MERIDIAN CUSD 223 FY 17 Tentative Budget Presentation EXAMINATION - - PowerPoint PPT Presentation

MERIDIAN CUSD 223

FY 17 Tentative Budget Presentation

EXAMINATION OF BUDGETING PROCESSES AND DATA

Overall data Year in Review for FY 15 Baseline numbers for FY 16 (Unaudited numbers) The budgeting process examined FY 17 Tentative Budget Data Dashboard Concept

REVIEW OF OVERALL DATA

Operating Reserves at End of Fiscal Year

$- $1,000,000.00 $2,000,000.00 $3,000,000.00 $4,000,000.00 $5,000,000.00 $6,000,000.00 $7,000,000.00 $8,000,000.00 $9,000,000.00 FY 13 FY 14 FY 15 FY 16 (Projected) FY 17 Budgeted

Operating Fund Reserve Percentage

0% 10% 20% 30% 40% 50% 60% FY 13 FY 14 FY 15 Projected FY 16 Budgeted FY 17

FY 13 FY 14 FY 15 Projected FY 16 Budgeted FY 17 Surplus/Deficit $(1,488,784.0 $(638,825.00) $3,404,136.00 $8,706,545.00 $(7,759,000.0

$(10,000,000.00) $(8,000,000.00) $(6,000,000.00) $(4,000,000.00) $(2,000,000.00) $- $2,000,000.00 $4,000,000.00 $6,000,000.00 $8,000,000.00 $10,000,000.00

Surplus/Deficit

FY 15 – THREE TAX PAYMENTS FY 16 – RECEIPT OF ALL HLS FUNDS FY 17 – EXPENDING HLS FUNDS RECEIVED IN FY 16

FY 16 BUDGET SUMMARY

“Unexpecteds”

• Boiler Repairs
• Approval and commencement of HLS work
• Three categorical payments received
• Ability to hire an Elementary Counselor

What is going on with the tax payments?

• We typically receive two tax payments per year. They

arrive in late June and Mid-September. These payments make up over 50% of our total revenue. While we have received payments in June, we simply do not cash them until July to stay consistent with the fiscal year.

• This is no longer an option as payments are direct
• deposited. OGLE COUNTY ONLY
• As a result we will have received 3 tax payments in FY 15

and will receive 2 in FY 16.

• This does not change our cash flow situation – but does

impact our end of year financial numbers

FINAL FY 16 DATA

FY 16 DATA NOT YET AVAILABLE

• FY 16 DATA

NOT YET AVAILABLE

INITIAL FY 17 DATA

ALL FUNDS FY 17 BUDGET

FY 17 (Tentative Budget) Education O+M Debt Services Transportation IMRF/SS Capital Projects Working Cash Tort Fire Prevention and Safety TOTALS Opening Year Fund Balance $ 5,692,981.00 $ 112,242.00 $ 744,327.00 $ 1,187,983.00 $ 231,041.00 $ 292,705.00 $ 325,746.00 $ 205,861.00 $ 8,427,879.00 $17,220,765. 00 Revenue $ 12,349,000.00 $ 1,310,000.00 $ 1,775,000.00 $ 1,045,000.00 $ 455,000.00 $ - $ 87,000.00 $ 520,000.00 $ 80,000.00 $17,621,000. 00 Expenditure $ 11,978,000.00 $ 1,335,000.00 $ 1,775,000.00 $ 1,040,000.00 $ 509,000.00 $ 50,000.00 $ - $ 486,000.00 $ 8,207,000.00 $25,380,000. 00 Projected Annual Total $ 371,000.00 $ (25,000.00) $ - $ 5,000.00 $ (54,000.00) $ (50,000.00) $ 87,000.00 $ 34,000.00 $ (8,127,000.00 ) $ (7,759,000.00 ) Remaining Fund Balances $ 6,063,981.00 $ 87,242.00 $ 744,327.00 $ 1,192,983.00 $ 177,041.00 $ 242,705.00 $ 412,746.00 $ 239,861.00 $ 300,879.00 $ 9,461,765.00

OPERATING FUNDS FY 17 BUDGET

FY 17 (Tentative Budget) Education O+M Transportation Working Cash Opening Year Fund Balance $ 5,692,981.00 $ 112,242.00 $ 1,187,983.00 $ 325,746.00 Revenue $ 12,309,000.00 $ 1,310,000.00 $ 1,045,000.00 $ 87,000.00 Expenditure $ 11,800,000.00 $ 1,335,000.00 $ 1,040,000.00 $ Projected Annual Fund Balance $ 509,000.00 $ (25,000.00) $ 5,000.00 $ 87,000.00 Remaining Fund Balances $ 6,201,981.00 $ 87,242.00 $ 1,192,983.00 $ 412,746.00

NON- OPERATING FUNDS FY 17 BUDGET

FY 17 (Tentative Budget) Debt Services IMRF/SS Capital Projects Tort Fire Prevention and Safety Opening Year Fund Balance $ 744,327.00 $ 231,041.00 $ 292,705.00 $ 205,861.00 $ 8,427,879.00 Revenue $ 1,775,000.00 $ 455,000.00 $ - $ 520,000.00 $ 80,000.00 Expenditure $ 1,775,000.00 $ 509,000.00 $ 50,000 - $ 486,000.00 $ 8,207,000.00 Projected Annual Fund Balance $ - $ (54,000.00) $ (50,000) - $ 34,000.00 $ (8,127,000.00) Remaining Fund Balances $ 744,327.00 $ 177,041.00 $ 242,705.00 $ 239,861.00 $ 300,879.00

HOW DO YOU CREATE THE TENTATIVE BUDGET?

2 separate, but related processes

• Expenditures
• Time-bound
• Must project this forward to make Reduction decisions in February,

etc.

• Revenues
• Driven by two major items – the levy and the state. The levy the

district has understanding and control over. The state . . . .

Expenditures

• More scientific
• Budget must reflect priorities
• Some hard numbers
• Salaries (sort of)
• Controlled expenditures
• Some soft numbers
• Energy
• Major projects
• Contingencies

Revenue

• Tax payments driven by the levy
• GSA or General State Aid
• Grant funding
• Fees and payments
• Other miscellaneous revenue
• Gifts
• Medicare/Medicaid Reimbursement

Control vs. Lack of Control

• We can control expenditures (to a point), revenue, we

have very little control over.

State Funding

• We receive state funding in two ways – GSA and Categorical

Payments

• GSA based on
• Available local resources
• Poverty level
• Total attendance average of best 3 months over past 3 years
• CPPRT
• State proration
• Categoricals
• Supplemental funding for particular programs
• SpEd
• Transportation
• Lunch programs
• Should receive quarterly
• Last year received 3 of 4 payments

At 92% - We lose over $450k

FUND BY FUND EXPLANATION

FUND 10 - Education

• Revenue
• Levy – Max Rate = 3.48 (maximum by statute for 7 years as

bolstered by referendum)

• SpEd Levy – Max Rate = 0.04
• Lease Levy – Max Rate = 0.05
• Vast preponderance of GSA
• SpEd categoricals
• Bi-lingual grant
• Pre-K grant
• Free and Reduced Lunch funding
• Title I
• Title II
• IDEA Flow-Through Grants
• Medicaid

Fund 10 Education

• Expenditures
• Teacher, aide, administrator, cafeteria worker salaries, technology

costs and salaries, athletic and activity costs, health benefits, and teacher/administrator retirement

• Supplies
• Software licensing
• SIS
• Audit
• OCEC
• Internet connection
• Phone Service

Fund 20 -

• Revenues
• Tax Levy (.50) – Statutory limit for MCUSD 223 – only adjustable

through referendum

• Portion of GSA
• Rental fees
• Lease monies
• Expenditures
• Custodian and Maintenance salaries and benefits
• Water
• Sewer
• Gas
• Electric

Fund 30

• Revenue
• Tax levy (We tax for exact amount needed – capped only by debt

limit calculation)

• Expenditures
• Directly to pay off long-term debt

Fund 40

• Revenue
• Levy (.20 – statutory maximum for MCUSD 223 unless a

referendum is passed)

• GSA (tiny portion)
• Categoricals

Fund 50

• Revenue
• Levy based on need (.22 this year)
• Not enough to cover need, but we had a surplus
• Expenditures
• IMRF and Social Security for all Employees

Fund 60

• Not really used
• IMPACT fees
• Specific bonds
• May use this year to transfer funds to O+M

Fund 70

• Revenues
• Levy .05210
• Expenditures
• None expected – can transfer as needed

Fund 80

• Revenue
• As needed levy – current rate .317
• Expenditures
• Portion of administrator and director salaries
• Liability insurance
• Portion of legal fees
• Projects designed to increase safety and security

Fund 90

• Revenue
• Levy .05 max rate
• Bonding for total cost of HLS need as dictated by architect, local

district, ROE, and ISBE

• Expenditures
• Large projects dictated by amendment as created by architect and

following protocol above

• None budgeted for