September 26 th , 2016 Overall budget $274,624,109 (excludes - - PowerPoint PPT Presentation

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September 26th, 2016

Overall budget $274,624,109 (excludes $58.77M for TRS On-Behalf payment) Operating funds $231,714,168 (increase of $7.5M or 3.34% from FY16 budget)

Revenue  Corporate Personal Property Replacement Tax (CPPRT) projected decrease - $1M or 10.64% due to:

• Expected replacement tax revenues being flat,
• Correction in the calculation error
• Business income tax refund percentage increased from 15.14% in FY16 to 17% in FY17.
• $100 million expenditure out of the personal property replacement tax fund was authorized

by SB2047

 2. General State Aid increase of $1.75 million  3. Property tax levy increase of $1.0 million, 50% of which applies to FY17, limited by the Tax cap to .7% of the prior year’s extension

Expenditures  Increase in salary costs of 3.2% per labor agreements and added positions for math blocks at MS/HS, as well as the HS restructuring  Benefits budgeted for a increase of 2.6% in claims and fixed costs  Addition of WILCO construction bond payment for VV share of $76,000  Tuition budget for outside placement students reduced by $650,000  Increase of $2.4 million in our scheduled debt service payment  Addition of over $10M in construction costs for roofs, parking lots and mechanical projects  Addition of $3.69M in technology hardware and staffing for the 1:1 technology initiative

• Addition of two social workers and two 1:1 classroom aides
• Addition of one teacher at JRT and one bilingual parapro
• Include $4.2M of categorical payments owed from FY16
• Addition of $4.8M in grant revenues and expenses that

were unknown at the time the tentative budget was presented

• There is no inclusion of any revenues or expenses for PreK

Expansion grant, since it has not been released.

Local State* Federal TOTALS FUND Educational $ 123,182,149 $ 107,581,254 $ 15,828,866 $ 246,592,269 Operations and Maintenance $ 16,864,001 $ 200,000 $ 17,064,001 Debt Service $ 28,759,539 $ 28,759,539 Transportation $ 6,428,345 $ 8,280,000 $ 14,708,345 IMRF $ 7,680,530 $ 7,680,530 Capital Projects $ 25,000 $ 25,000 Working Cash $ 1,137,000 $ 1,137,000 Tort $ 1,207,525 $ 1,207,525 Fire Prevention and Safety $ 944,000 $ 944,000 $ - TOTALS $ 186,228,089 $ 116,061,254 $ 15,828,866 $ 318,118,209

59% 36% 5% 100% * Includes $58.775 million in TRS on-behalf payment in book entry only Percentages change if On-Behalf is NOT included $ 186,228,089 $ 57,286,254 $ 15,828,866 $ 259,343,209 72% 22% 6%

Local State* Federal 2012-13 78% 16% 6% 2013-14 76% 18% 6% 2014-15 74% 20% 6% 2015-16 73% 21% 6% 2016-17 72% 22% 6% 5 Year Average 74.6% 19.4% 6.0% * Does not include TRS On-Behalf Payment

Year

Entitlement Amount Proration % Prorated Amount

Lost due to proration

2011-12 $ 21,511,380 95.04% $ 20,444,398 $ (1,066,982) 2012-13 $ 21,010,906 89.17% $ 18,742,204 $ (2,268,702) 2013-14 $ 28,736,204 88.70% $ 25,515,902 $ (3,220,302) 2014-15 $ 34,198,627 87.17% $ 30,497,460 $ (3,701,167) 2015-16 $ 37,280,259 92.06% $ 34,340,421 $ (2,939,838) 2016-17 $ 36,099,150 0.00% $ 36,099,150 $ -

Totals $ 178,836,526 $ 165,639,535

$ (13,196,991)

2016-17 increase due to prior year EAV rollover, field audit aujustment & stop loss adjustment

Year Proration % Amount Lost Cumulative Impact 2010-11 26% $ 1,140,861 $ 1,140,861 2011-12 23% $ 887,230 $ 2,028,091 2012-13 24% $ 1,151,543 $ 3,179,634 2013-14 26% $ 1,258,608 $ 4,438,242 2014-15 29% $ 1,117,205 $ 5,555,447 2015-16 29% $ 1,285,245 $ 6,840,692 **2016-17** 31% $ 1,575,379 $ 8,416,071 Yearly average of proration $ 1,202,296 **estimated**

General State Aid (since FY12) $ 13,196,935 Regular Transportation ( since FY11) $ 8,416,071 Total $ 21,613,006

2016-17 2015-16

ALL FUNDS

Object Budget Percent Actual Percent Salaries $ 146,300,927 53.3% 4.5% $ 139,934,804 55.3% Benefits $ 37,701,591 13.7% 4.0% $ 36,239,693 14.3% Purchased Services $ 23,458,056 8.5% 10.9% $ 21,160,447 8.4% Supplies and Materials $ 11,307,401 4.1%

• 3.7%

$ 11,744,891 4.6% Capital Outlay $ 14,393,811 5.2% 203.7% $ 4,739,938 1.9% Other Objects $ 37,997,206 13.8% 3.3% $ 36,797,951 14.5% Non-Capitalized Equip. $ 3,316,617 1.2% 320.4% $ 788,871 0.3% Post Employment Benefits $ 148,500 0.1% 56.5% $ 94,860 0.0% Transfers $ 1,685,000 0.7% Total $ 274,624,109 100.0% 8.5% $ 253,186,455 100.0%

Education Fund

Object Budget Percent Actual Percent Salaries $ 132,736,927 70.4% 3.9% $ 127,748,733 70.6% Benefits $ 27,515,341 14.6% 2.6% $ 26,813,988 14.8% Purchased Services $ 12,150,096 6.4% 22.3% $ 9,935,262 5.5% Supplies and Materials $ 7,007,296 3.7%

• 2.8%

$ 7,206,297 4.0% Capital Outlay $ 982,611 0.5% 125.7% $ 435,440 0.2% Other Objects $ 7,615,190 4.0%

• 8.0%

$ 8,274,692 4.6% Non-Capitalized Equip. $ 369,617 0.2% 7.1% $ 345,257 0.2% Post Employment Benefits $ 127,000 0.1% 70.4% $ 74,533 0.0% Total $ 188,504,078 100% 4.2% $ 180,834,202 100%

Beginning Fund Balance Education Operations & Maint Transportation IMRF/FICA Tort Working Cash Total 1 **As of June 30, 2016 $ 33,765,882 $ 4,763,688 $ 1,227,408 $ 2,132,731 $ 1,682,693 $ 18,867,555 $ 62,439,957 2 Revenues: $ 187,817,269 $ 17,064,001 $ 14,708,345 $ 7,680,530 $ 1,207,525 $ 1,137,000 $229,614,670 3 Expenses: $ 190,867,153 $ 18,014,905 $ 12,933,310 $ 7,675,300 $ 2,223,500 $ - $231,714,168 Note: excludes TRS On Behalf of $58.775m 4 Estimated Ending Balance: $ 30,715,998 $ 3,812,784 $ 3,002,443 $ 2,137,961 $ 666,718 $ 20,004,555 $ 60,340,459 5 Difference $ (3,049,884) $ (950,904) $ 1,775,035 $ 5,230 $(1,015,975) $ 1,137,000 $ (2,099,498) % change in fund balance

• 9.03%
• 19.96%

144.62% 0.25%

• 60.38%

6.03%

• 3.36%

6 # Days cash on hand 6/30/16 59 77 85 102 109 95 Fund balance divided by (expenses/365) ** Unaudited NOTE: District owed $4.2M in categorical grants from FY16

Fund 2016 2015 2014 2013 2012 Education $ 24,947,873 $22,158,242 $19,977,432 $ 25,095,504 $ 35,230,531 Food Service $ 8,818,009 $ 8,127,080 $ 7,273,850 $ 6,825,818 $ 6,266,565 Subtotal $ 33,765,882 $30,285,322 $27,251,282 $ 31,921,322 $ 41,497,096 Operations and Maintenance $ 4,763,688 $ 7,643,950 $ 8,561,168 $ 9,341,110 $ 13,364,731 Transportation $ 1,227,408 $ 4,345,579 $ 4,950,799 $ 4,892,918 $ 2,147,455 IMRF/Social Security $ 2,132,731 $ 2,219,185 $ 2,087,742 $ 2,165,106 $ 2,276,667 Working Cash $ 18,867,555 $17,804,277 $17,231,057 $ 17,173,009 $ 30,629,656 Tort $ 1,682,692 $ 1,816,940 $ 1,095,362 $ 953,321 $ 9,542 Life Safety $ 887,653 $ 412,892 $ 406,636 $ 378,854 $ 366,404 $ 63,327,609 $64,528,145 $61,584,046 $ 66,825,640 $ 90,291,551 *unaudited* NOTE: District owed $4.2M in categorical grants from FY16