Peters Township School District Final Budget 2020-2021 June 22, 2020
Peters Township School District Final Budget 2020-2021 June 22, 2020 School Board Finance Committee AGENDA I. Review of Proposed Final Budget II. Revenue Updates III. Expenditure Updates IV. 2020-2021 Final Budget Summary V. Public Comment
Peters Township School District Proposed Final Budget Summary Millage Increase of 2.6% REVENUES: 6000 Local Revenues $ 52,917,989 7000 State Revenues $ 16,740,323 8000 Federal Revenues $ 435,000 9000 Other Financial Sources $ 1,000 2020 ‐ 2021 Revenues $ 70,094,311 1000 Instruction $ 41,499,475 2000 Support Services $ 19,993,418 3000 Operations of Non ‐ Instructional Services $ 1,477,325 4000 Facilities $ ‐ 5000 Other Financing Uses $ 7,815,273 2020 ‐ 2021 Expenditures $ 70,785,491 2020 ‐ 2021 Budget Gap $ (691,180)
Peters Township School District Final Budget 2020-2021 June 22, 2020 REVENUES KEY POINTS TO NOTE: Local Revenue o Effect of COVID-19 on Local Tax Revenue Review of 2008-2009 tax impact. State Revenue o 2020-2021 State Budget Approved 5-month stop-gap for nearly all operation EXCEPT for K-12 education, which received 12 month funding. Districts will receive level funding at 2019-2020 amounts. This includes Basic Education Funding and Special Education Funding. Federal CARES Act Funds will be provided in addition to Basic Education Funding. Property Tax Relief Allocations were funded at the 2019-2020 amount with the supplement of federal stimulus funds. School Safety and Security Grants will be funded with additional Federal Funds for COVID-19 related purposes.
Earned Income Tax Collection History $7,000,000 $6,276,171 $6,063,020 $5,961,676 $5,760,656 $6,000,000 $5,629,430 $5,489,738 $5,035,831 $4,451,464 $5,000,000 $4,258,325 $4,580,822 $4,224,726 $4,130,822 $3,935,099 $4,000,000 $3,583,388 $3,000,000 $2,000,000 $1,000,000 $0
Real Estate Transfer Tax $1,200,000 $1,009,043 $1,000,000 $942,433 $881,487 $837,204 $855,468$839,039 $840,183 $824,568 $805,520 $798,795 $789,631 $800,000 $703,653 $576,710$600,467 $600,000 $400,000 $200,000 $0
Peters Township School District Revenue Changes from Proposed Final Budget Estimated Category Budget Decreases and Increases Interim Real Estate Tax $ (50,000) Real Estate Transfer Tax $ (130,171) State Safe School Grant $ (40,000) Federal Title Funding $ (35,990) Federal CARES Act Funding $ 484,754 Net Revenue Changes $ 228,593
DISTRICT REVENUE BY SOURCE Budgeted Projected 2019 ‐ 2020 2020 ‐ 2021 Local Revenue $ 51,587,767 $ 52,741,893 State Revenue $ 16,167,886 $ 16,704,167 Federal Revenue $ 405,000 $ 883,764 Other Revenue $ 1,000 $ 1,000 Total Revenues $ 68,161,653 $ 70,330,824 Projected 2020 ‐ 2021 Revenue by Source $883,764 $1,000 1% 0% $16,704,167 24% $52,741,893 75% Local Revenue State Revenue Federal Revenue Other Revenue
Peters Township School District Revenue by Major Function ACT 16 ‐ 17 ACT 17 ‐ 18 ACT 18 ‐ 19 19 ‐ 20 BUD 20 ‐ 21 BUD 6000 REVENUE FROM LOCAL SOURCES 6111.1 CURRENT REAL ESTATE TAXES* 37,702,463 39,286,363 40,614,891 41,968,297 43,635,397 6112.1 INTERIM REAL ESTATE* 226,115 278,718 173,935 250,000 200,000 6113 PUBLIC UTILITY TAX 47,248 44,772 46,163 45,000 45,000 6143 LOCAL SERVICES TAX 47,891 47,770 47,982 45,000 45,000 6151 EARNED INCOME TAX* 5,961,675 6,276,170 6,063,019 6,286,807 5,972,467 6153 REAL ESTATE TRANSFER TAX* 839,039 942,433 1,009,042 878,980 800,000 6411 DELINQUENT REAL ESTATE TAX 489,026 544,751 554,204 513,470 529,327 6451 DELINQUENT EARNED INCOME TAX 116,394 135,429 51,082 112,171 50,000 6510 INTEREST ON INVESTMENTS* 103,385 239,818 604,111 450,000 241,644 6710 REVENUE FROM ATHLETIC EVENTS 118,412 144,759 179,259 131,041 162,009 6740 STUDENT FEES ‐ PARKING 27,780 27,115 29,100 26,000 26,000 6740 STUDENT FEES ‐ ACTIVITIES 6,560 8,650 7,640 8,000 8,000 6740 STUDENT FEES ‐ ATHLETICS 109,915 108,020 107,800 108,000 108,000 6740 STUDENT FEES ‐ TRANSPORTATION 24,056 16,181 14,719 18,000 18,000 6740 STUDENT FEES ‐ COACHES PAID BY BOOSTERS 0 0 0 0 0 6790 COACHES SALARIES PAID BY ATHLETIC 15,901 13,254 11,928 13,000 13,000 6832 FED. REV. FROM OTHER LEA'S ‐ Idea 545,961 532,384 516,573 532,000 532,000 6910 RENTAL FROM SCHOOL FACILITIES 46,704 34,398 42,492 40,000 55,000 6920 CONTRIBUTIONS AND DONATIONS 44,843 0 0 10,000 10,000 6941 TUITION ‐ REGULAR DAY STUDENTS 10,142 10,853 10,612 10,000 10,000 6942 TUITION ‐ SUMMER SCHOOL 94,816 59,800 60,011 90,000 60,000 6944 TUITION ‐ OTHER LEA'S 0 113,682 93,657 0 90,000 6961 TRANSPORTATION PROVIDED TO LEA'S 11,700 ‐ 107,867 11,570 10,000 10,000 6990 REFUNDS AND MISC. REVENUE 0 0 0 0 0 6991 REFUND OF PRIOR YR. EXPENSE ‐ ERATE 55,252 148,856 57,039 30,000 87,049 6992 ENERGY EFFICIENCY ‐ CLEARCHOICE 0 0 24,722 0 24,000 6999 MISCELLANEOUS 13,891 10,789 6,227 12,000 10,000 6000 TOTAL LOCAL REVENUE 46,659,169 48,917,098 50,337,778 51,587,766 52,741,893 7000 REVENUE FROM STATE SOURCES ACT 16 ‐ 17 ACT 17 ‐ 18 ACT 18 ‐ 19 19 ‐ 20 BUD 20 ‐ 21 JUNE BUD 7110 BASIC INSTRUCTIONAL SUBSIDY* 5,413,907 5,489,147 5,553,247 5,553,343 5,630,083 7160 TUITION FOR FOSTER CHILDREN 4,514 10,235 1,686 5,000 5,000 7250 MIGRATORY CHILDREN 0 0 160 0 150 7271 SPECIAL ED. ‐ REGULAR PROGRAMS* 1,589,123 1,607,116 1,613,601 1,620,745 1,657,860 7310 TRANSPORTATION SUBSIDY 858,365 841,142 813,709 950,000 850,000 7321 RENTAL/SINKING FUND PAYMENTS 647,260 245,727 386,941 269,640 497,236 7330 HEALTH SERVICE 88,545 54,380 73,840 75,000 75,000 7340 STATE PROPERTY TAX ALLOCATION 731,178 731,943 733,867 728,324 729,445 7361 SAFE SCHOOLS GRANTS 0 0 40,007 0 0 7501 READY TO LEARN GRANT 335,813 335,813 335,813 335,813 335,813 7810 REVENUE ‐ SOC. SEC. PAYMENTS 1,066,056 1,095,585 1,114,692 1,206,123 1,256,295 7820 REVENUE ‐ RETIREMENT 4,267,786 4,760,083 4,976,894 5,423,899 5,667,285 7000 TOTAL STATE REVENUE 15,002,547 15,171,171 15,644,457 16,167,887 16,704,167 8000 REVENUE FROM FEDERAL SOURCES ACT 16 ‐ 17 ACT 17 ‐ 18 ACT 18 ‐ 19 19 ‐ 20 BUD 20 ‐ 21 JUNE BUD 8514 ECIA ‐ TITLE I 193,002 164,003 127,834 175,000 100,733 8515 TITLE IIA CLASS SIZE REDUCTION 53,109 61,408 59,234 60,000 53,277 8517 TITLE IV 0 10,000 11,868 0 10,000 8731 BUILD AMERICA BONDS 17,312 34,681 34,811 20,000 35,000 8741 CARES ACT ‐ SCHOOL EMERGANCY RELIEF FUND 0 0 0 0 89,000 8742 CARES ACT ‐ COVID ‐ 19 DISASTER SAFETY GRANT 0 0 0 0 395,754 8810 SBAP ‐ SCHOOL BASED ACCESS PROGRAM 2,817 1,838 117,052 150,000 200,000 8000 TOTAL FEDERAL REVENUE 266,240 271,930 350,799 405,000 883,764 TOTAL LOCAL/STATE/FEDERAL REVENUE 61,927,956 64,360,199 66,333,034 68,160,653 70,329,824 9000 OTHER FINANCING SOURCES ACT 16 ‐ 17 ACT 17 ‐ 18 ACT 18 ‐ 19 19 ‐ 20 BUD 20 ‐ 21 JUNE BUD 9400 SALE/COMP. ‐ LOSS OF FIXED ASSETS 1,323 943 467 1,000 1,000 9000 TOTAL OTHER FINANCING SOURCES 1,323 943 467 1,000 1,000 TOTAL REVENUE ALL SOURCES 61,929,279 64,361,142 66,333,501 68,161,653 70,330,824 INCREASE (DECREASE) $2,757,238 $2,431,863 $1,972,359 $1,828,152 $236,513
Peters Township School District Final Budget 2020-2021 June 22, 2020 EXPENDITURES KEY POINTS TO NOTE: Expenditure increases are driven primarily by contractual and mandated staff costs. Debt Service will increase due to construction borrowing. Technology investment for 1:1 initiative.
Peters Township School District Expenditure Changes from Proposed Final Budget Estimated Category Budget Decreases and Increases Technology ‐ 1:1 Initiative $ 429,364 Safety Supplies $ 50,000 Transportation $ 47,955 Insurance $ (68,555) Athletics $ (7,133) Net Expenditure Changes $ 451,631
DISTRICT EXPENDITURE BY FUNCTION Budgeted Projected 2019 ‐ 2020 2020 ‐ 2021 Instruction $ 40,377,280 $ 41,921,680 Support Services $ 19,388,721 $ 20,042,949 Operations of Non ‐ Instructional $ 1,492,802 $ 1,462,597 Other Financing Sources $ 6,902,850 $ 7,815,273 Total Revenues $ 68,161,653 $ 71,242,499 Projected 2020 ‐ 2021 Expenditures by Function $7,815,273 11% $1,462,597 2% $20,042,949 $41,921,680 28% 59% Instruction Support Services Operations of Non ‐ Instructional Other Financing Sources
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