Post on 12-Jan-2016
Integrity. Commitment. Performance.™
PMA Financial Planning ProgramJanuary 22, 2014Wheaton Warrenville
CUSD 200
Integrity. Commitment. Performance.™2Data & Assumptions provided by District
PMA Financial Planning Program| Wheaton Warrenville CUSD 200
Process
• What is the Financial Planning Program (FPP)?– A comprehensive, interactive planning process that can be
dynamically updated to assist the District in making important financial decisions.
• How are we going to use the plan?– Budget Planning– Trend Analysis– Set Fiscal Policies– Annual Update and Reassessment– Scenario Analysis
Integrity. Commitment. Performance.™3Data & Assumptions provided by District
PMA Financial Planning Program| Wheaton Warrenville CUSD 200
Data Elements
• Annual Financial Reports (AFRs) for the past five years• District’s FY14 Budget - Base for financial projections• Historical Tax Extension Reports• Equalized Assessed Valuations / New Construction• Contract and scattergram for certified staff• Salary & Benefits information• Enrollment• Student/staffing ratios
Integrity. Commitment. Performance.™4Data & Assumptions provided by District
PMA Financial Planning Program| Wheaton Warrenville CUSD 200
Operating Funds Revenue Budget – $153,674,000
Operating Funds: Educational, Operations & Maintenance, Transportation, IMRF, and Working Cash Funds
REVENUE BY SOURCE DETAIL - FY 2014
Property Taxes78.9%
Other Local5.2%
General State Aid4.2%
Other State7.0% Federal
4.8%
Integrity. Commitment. Performance.™5Data & Assumptions provided by District
PMA Financial Planning Program| Wheaton Warrenville CUSD 200
Revenue Assumptions – Property Taxes
Consumer Price Index (CPI) - Levy Years
0.1%
2.7%
1.5%
3.0%
1.7%
2.4% 2.4% 2.4% 2.4% 2.4%
1.5%
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019Actual Projected
Integrity. Commitment. Performance.™6Data & Assumptions provided by District
PMA Financial Planning Program| Wheaton Warrenville CUSD 200
Revenue Assumptions – Property Taxes
New EAV Growth (In Millions)
$23.2
$86.5
$17.9 $21.1
$12.0$20.0 $20.0
$40.0
$20.0 $20.0 $20.0
$0.0
$10.0
$20.0
$30.0
$40.0
$50.0
$60.0
$70.0
$80.0
$90.0
$100.0
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019Actual Projected
Integrity. Commitment. Performance.™7Data & Assumptions provided by District
PMA Financial Planning Program| Wheaton Warrenville CUSD 200
Revenue Assumptions – Other Local Revenue
• CPPRT:– Projected at current FY14 budget ($2.2 million annually)
• Investment Income:– 0.15% rate of return
• All other local revenues:– Projected at current FY14 budget
Integrity. Commitment. Performance.™8Data & Assumptions provided by District
PMA Financial Planning Program| Wheaton Warrenville CUSD 200
Revenue Assumptions – State & Federal• State Revenue
– General State Aid (GSA)• Factor of enrollment - Average Daily Attendance (ADA)
• Foundation Level – currently $6,119 prorated to 89%– No Foundation Level increases projected– 89% annual proration for FY15, 85% thereafter
• Remain in Alternate Formula Funding – Other State Categorical Grants
• Projected at current FY14 budget levels – Except $200,000 transportation reduction resulting from bid cost savings
• Federal Revenue– Projected at current FY14 budget levels
• Except $142,000 reduction for IDEA Room & Board reimbursement
Integrity. Commitment. Performance.™9Data & Assumptions provided by District
PMA Financial Planning Program| Wheaton Warrenville CUSD 200
General State Aid Revenue (in Millions)
$7.21
$6.56 $6.44 $6.32 $6.43 $6.21 $6.14 $6.05 $5.96$6.52
0
1
2
3
4
5
6
7
8
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Actual Projected
Integrity. Commitment. Performance.™10Data & Assumptions provided by District
PMA Financial Planning Program| Wheaton Warrenville CUSD 200
Revenue – Sensitivity
• Tax Levy:– CPI 1% ≈ +/- $1.3 million– New Property: $1 million ≈ +/- $45,000– Tax Collection rate: 0.1% ≈ +/- $112,000
• General State Aid– $100 Foundation Level ≈ +/- $113,000– 1% proration ≈ +/- $73,000
Integrity. Commitment. Performance.™11Data & Assumptions provided by District
PMA Financial Planning Program| Wheaton Warrenville CUSD 200
Operating Funds Expense Budget – $153,539,000
Operating Funds: Educational, Operations & Maintenance, Transportation, IMRF, and Working Cash Funds
FY 2014 EXPENDITURES BY OBJECT
Salaries67.3%
Benefits11.4%
Purchased Services12.5%
Supplies And Materials
4.0%
Capital Outlay1.0%
Other Objects3.7%
Non-Capitalized Equipment
0.0%
Integrity. Commitment. Performance.™12Data & Assumptions provided by District
PMA Financial Planning Program| Wheaton Warrenville CUSD 200
Expenditure Assumptions• Salaries
– Teachers• FY15: per current contract• FY16-19: CPI annual increases, plus lane movement ($500,000)
– All Other Staff• CPI annual increases
Integrity. Commitment. Performance.™13Data & Assumptions provided by District
PMA Financial Planning Program| Wheaton Warrenville CUSD 200
Expenditure Assumptions - Other
• Health & Dental Benefits– 7% annual increases
• Purchased Services, Supplies, Capital Outlay, Tuition– CPI annual increases– 2.5% Transportation increases per contract for FY15 &
FY16, then CPI
Integrity. Commitment. Performance.™14Data & Assumptions provided by District
PMA Financial Planning Program| Wheaton Warrenville CUSD 200
Staffing Assumptions
Excluding administration
CERTIFIED STAFF (FTE)
1,069.2 1,069.2 1,069.2 1,069.2 1,069.2 1,069.2
0.0
200.0
400.0
600.0
800.0
1000.0
1200.0
2014 2015 2016 2017 2018 2019Actual Projected
Integrity. Commitment. Performance.™15Data & Assumptions provided by District
PMA Financial Planning Program| Wheaton Warrenville CUSD 200
Additional Assumptions
• No legislative changes in school funding
• No change to PTELL (Tax Cap)
• Includes potential TRS pension shift starting in FY16 compounding @ .5% per year ($450,000 per each .5%)
• Includes known retirements in future years (112 over next 3 years) with replacement teachers hired in at the BA+24 Lane Step 3
• Current FY14 Budget is accurate basis for projections
Integrity. Commitment. Performance.™16Data & Assumptions provided by District
PMA Financial Planning Program| Wheaton Warrenville CUSD 200
Projected Revenues vs. Expenditures - Aggregate
Operating Funds: Educational, Operations & Maintenance, Transportation, IMRF, and Working Cash Funds
BUDGET
FY 2014 FY 2015 % chg FY 2016 % chg FY 2017 % chg FY 2018 % chg FY 2019 % chgREVENUE
Local $129,229,900 $131,266,762 1.58% $134,557,032 2.51% $138,908,484 3.23% $143,387,588 3.22% $147,500,396 2.87%State $17,129,400 $16,967,012 -0.95% $16,610,632 -2.10% $16,541,443 -0.42% $16,446,527 -0.57% $16,361,883 -0.51%
Federal $7,314,700 $7,172,700 -1.94% $7,172,700 0.00% $7,172,700 0.00% $7,172,700 0.00% $7,172,700 0.00%Other $0 $0 $0 $0 $0 $0
TOTAL REVENUE $153,674,000 $155,406,474 1.13% $158,340,364 1.89% $162,622,627 2.70% $167,006,815 2.70% $171,034,979 2.41%
EXPENDITURESSalary and Benefit Costs $120,879,100 $123,483,520 2.15% $127,105,231 2.93% $127,344,713 0.19% $131,763,448 3.47% $136,488,289 3.59%
Other $32,659,900 $33,220,669 1.72% $34,022,982 2.42% $34,837,134 2.39% $35,670,825 2.39% $36,524,525 2.39%TOTAL EXPENDITURES $153,539,000 $156,704,189 2.06% $161,128,214 2.82% $162,181,847 0.65% $167,434,273 3.24% $173,012,814 3.33%
SURPLUS / DEFICIT $135,000 ($1,297,715) ($2,787,850) $440,780 ($427,458) ($1,977,835)
OTHER FINANCING SOURCES/USESTransfer Among Funds (Net) $0 ($500,000) ($500,000) ($500,000) ($500,000) ($500,000)
Sale of Bonds $0 $0 $0 $0 $0 $0Other Financing Sources $0 $0 $0 $0 $0 $0
Other Financing Uses ($860,000) $0 $0 $0 $0 $0TOTAL OTHER FIN. SOURCES/USES ($860,000) ($500,000) ($500,000) ($500,000) ($500,000) ($500,000)
SURPLUS / DEFICIT INCL. OTHER FIN. SOURCES ($725,000) ($1,797,715) ($3,287,850) ($59,220) ($927,458) ($2,477,835)
BEGINNING FUND BALANCE $44,583,894 $43,858,894 $42,061,179 $38,773,329 $38,714,109 $37,786,651
PROJECTED YEAR END BALANCE $43,858,894 $42,061,179 $38,773,329 $38,714,109 $37,786,651 $35,308,816
FUND BALANCE AS % OF REVENUES 28.54% 27.07% 24.49% 23.81% 22.63% 20.64%
REVENUE / EXPENDITURE PROJECTIONS
Integrity. Commitment. Performance.™17Data & Assumptions provided by District
PMA Financial Planning Program| Wheaton Warrenville CUSD 200
Historical / Projected Fund BalancesProjected Year-End Balances
(Educational, Operations and Maintenance, Transportation, IMRF, and Working Cash Funds.)
$37,112,266
$28,087,893$29,757,129
$40,913,746
$44,583,894 $43,858,894$42,061,179
$38,773,329 $38,714,109$37,786,651
$35,308,816
$8,317,452
($2,181,938) ($2,466,114)
$7,291,865$8,854,651
$7,287,702$5,641,726
$1,637,825($460,149)
($2,564,077)
($5,968,343)($10)
$0
$10
$20
$30
$40
$50
Educational Operations and Maintenance Transportation IMRF Working Cash
Mill
ion
s
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 FY End Balances Est. Low-Point Balance
Integrity. Commitment. Performance.™18Data & Assumptions provided by District
PMA Financial Planning Program| Wheaton Warrenville CUSD 200
ISBE Financial Profile
3.35
3.00
3.35
3.80 3.803.70
3.35
3.00 3.00 3.00 3.00
0
0.5
1
1.5
2
2.5
3
3.5
4
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
0 - Watch - 2.61
2.62 - Early Warning - 3.07
3.08 - Review - 3.53
3.54 - Recognition - 4
Integrity. Commitment. Performance.™19Data & Assumptions provided by District
PMA Financial Planning Program| Wheaton Warrenville CUSD 200
Copyright 2014 PMA Financial Network, Inc.
The information contained herein is solely intended to suggest/discuss potentially applicable financing applications and is not intended to be a specific buy/sell recommendation, nor is it an official confirmation of terms. Any terms discussed herein are preliminary until confirmed in a definitive written agreement.
The analysis or information presented herein is based upon hypothetical projections and/or past performance that have certain limitations. No representation is made that it is accurate or complete or that any results indicated will be achieved. In no way is past performance indicative of future results. Changes to any prices, levels, or assumptions contained herein may have a material impact on results. Any estimates or assumptions contained herein represent our best judgment as of the date indicated and are subject to change without notice. Examples are merely representative and are not meant to be all-inclusive.
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