Utica Community Schools Board Presentation Utica Community Schools - - PowerPoint PPT Presentation

Utica Community Schools Board Presentation

Utica Community Schools

Key Audit Highlights:  2016-2017 Audit Results – Rating of Excellent  14th straight year receiving an Unmodified Opinion with no findings  Uniform Budgeting Act –record of no violations  Pro-active community focus

Bonded Debt refunding – taxpayer savings $378,000 Bonded Debt – federal interest subsidy $739,000 savings annually

 Awarded 2016 Certificate of Excellence in Financial Reporting award

(5th year) from Association of School Business Officials International

 Revenue from the sale of land of $5.5 million – one time funding  Adoption of GASB 77 – New tax abatements disclosure

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General Fund Revenue Budget vs. Actual June 30, 2017

$29,769 $223,899 $11,638 $13,403 $30,029 $222,977 $10,443 $13,393

$0 $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 $140,000 $160,000 $180,000 $200,000 $220,000 $240,000 Local State Federal Other Budget Actual

3 $278,709,196 $276,842,105

Thousands of Dollars

* Includes $5.5 million

• f one time land sale

revenue *

General Fund Revenue and Other Financing Sources June 30, 2017

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$203,647,935 73% $10,443,419 4% $30,028,680 11% $19,329,512 7% $1,773,248 1% $11,619,311 4%

Year Ended June 30, 2017 $276,842,105

State Federal Local Restricted State Retirement Transfers In Interdistrict & Other

$200,647,896 76% $9,118,608 3% $29,291,133 11% $17,760,033 7% $2,117,012 1% $6,124,044 2%

Year Ended June 30, 2016 $265,058,726

* *One time revenue source due to sale of land for $5.5M

General Fund Expenditures Budget vs. Actual June 30, 2017

$200,238 $79,281 $491 $197,758 $75,955 $344

$0 $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 $140,000 $160,000 $180,000 $200,000 $220,000 Instruction Support Services Other Budget Actual

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Thousands of Dollars

$280,010,469 $274,056,922

General Fund Expenditures (By Function) June 30, 2017

$220,259,036 81% $15,017,536 5% $7,192,335 3% $16,254,156 6% $11,018,374 4% $431,510 0% $3,005,792 1%

Year Ended June 30, 2016 $273,178,739

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Instruction and Instructional Support - Teachers, parapros, other pupil support School Administration - School building offices (principal, secretaries, etc.) Business and General Administration - Central office, Business office Operations - Utilities, maintenance Transportation Other - Transfers out, payments to other schools Athletics $221,560,466 81% $14,707,348 5% $6,889,987 3% $16,831,653 6% $10,730,428 4% $361,846 0% $2,975,194 1%

Year Ended June 30, 2017 $274,056,922

General Fund Expenditures (By Object) June 30, 2017

Salaries $151,094,492 55% Benefits $74,888,320 27% Restricted State Retirement $19,329,512 7% Purchased Services $18,111,209 7% Supplies and Materials $9,055,702 3% Other $1,577,687 1%

Year Ended June 30, 2017 $274,056,922

Salaries Benefits Restricted State Retirement Purchased Services Supplies and Materials Other

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Salaries $151,169,016 55% Benefits $76,302,015 28% Restricted State Retirement $17,760,033 7% Purchased Services $17,226,153 6% Supplies and Materials $8,541,069 3% Other $2,180,453 1%

Year Ended June 30, 2016 $273,178,739

General Fund Expenditures

Comparison of 2017 and 2009 breakdown

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Instruction and Instructional Support 81% All Other Support Services 19%

Year Ended June 30, 2017

Instruction and Instructional Support All Other Support Services

Instruction and Instructional Support 74% All Other Support Services 26%

Year Ended June 30, 2009

Year Per Pupil Foundation Allowance 2009 $7,807 2017 $7,684 $123 less per pupil ($3.4 million) in 2017 than in 2009 Cumulative effect is $59.5 million less in revenue since foundation cut of $470 per pupil in 2012

General Fund Revenue/Expenditures Actual Results for the Years Ended June 30, 2016 & 2017

$276.8 $265.1 $274.0 $273.2 $100.0 $150.0 $200.0 $250.0 $300.0 2017 2016

Revenue Expenditures

Net Fund Balance Increase: $2.8M

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In Millions

Net Fund Balance Decrease: $(8.1)M

$5.5 $271.3

One time land sale revenue

Note: Without the one time land sale revenue of $5.5 million, the district would have had a decrease in fund balance of $2.7 million

General Fund Fund Balance Last Five Years

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2013 2014 2015 2016 2017 Fund Balance $38,036,093 $32,645,170 $26,030,696 $17,910,683 $20,695,866 % of Expenditures 15.0% 12.5% 9.6% 6.6% 7.6% $15,000,000 $20,000,000 $25,000,000 $30,000,000 $35,000,000 $40,000,000 $45,000,000

*

* $5.5 million land sale revenue 2016/2017

14.5% 5.88% 7.58% 6.69% 8.48% 13.75%

2 4 6 8 10 12 14 16

2011 2016

20J Districts (Hold Harmless) Middle Funded Minimum Foundation Allowance Districts

Fund Balance as a % of Expenditures Macomb County School Districts June 30, 2011 Compared to June 30, 2016

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Thank you.

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