Budget Study SessionFiscal Year 2015-16

5/26/2015Sandy Rotella CPA, SFO -

Chief Financial Operations Officer

BudgetBeginning Fund Balance

+Revenues

-Expenditures

=Ending Fund Balance

Beginning Fund Balance

Beginning Fund Balance - CalculationAMOUNT

Fiscal Year 13-14 Audited Fund Balance (Fund 10 & 12) $ 9,058,079

Estimated Revenue FY 14-15 61,724,089

Estimated Expenditures FY 14-15 62,163,315

Estimated Ending Fund Balance – June 30, 2015 $ 8,618,853

Revenue Assumptions

School Finance Act

Enrollment

49.00

Per Pupil Revenue

$171.39

Other Revenue ChangesIncrease in Property TaxesIncrease in Specific Ownership TaxIncrease in transfer to Athletic FundDecrease in Categorical FundingIncrease of Transfer to Capital Reserve FundDecrease of Transfer to Risk Management

FundMaintain Federal Impact Aid

Revenue – Estimate for FY 15-16AMOUNT

Est. Revenue for Fiscal Year 14-15 $ 61,724089

Estimated Increase to FY 15-16 Revenue

4,053,917

Estimated Revenue for FY 15-16 $62,516,037

Expenditure Assumptions

Salary & Benefits• Salary Increase:

• Certified:• Steps and Column Movement• 1.5% COLA

• Classified:• Steps• Restructure of Longevity Payments• 1.0% COLA

• Benefits • PERA: 0.9% increase (from 18.35% to 19.20%)• Health Insurance: No change

Targeted Student / TeacherStaffing Ratios by Core Content Area

Preschool 16:1Kindergarten 20:1Grades 1-3 24:1Grades 4-5 26:1Grades 6-8 28:1Grades 9-12 30:1

Referendum

$4,890,000

REFERENDUM(I)RESTORING OR

ENHANCING ELIMINATED PROGRAMS IN MUSIC, ART, PHYSICAL EDUCATION, CAREER-TECHNICAL EDUCATION AND MIDDLE SCHOOL ATHLETICS;

REFERENDUM (continued)

(II) PROVIDING OPERATING FUNDS FOR PROGRAMS INTENDED TO INCREASE GRADUATION RATES, KEEP STUDENTS IN SCHOOL, AND IMPROVE READING AND WRITING SKILLS OF ALL STUDENTS IN KINDERGARTEN THROUGH TWELFTH GRADE;

REFERENDUM (concluded)(III) UPGRADING AND

IMPROVING COMPUTER TECHNOLOGY FOR ALL STUDENTS IN KINDERGARTEN THROUGH TWELFTH GRADE

Estimated Expenditures – Fiscal Year 2015-16

AMOUNT

Estimated Salaries: Based on FY 2015-16 FTE and negotiated agreements $40,425,645

Estimated Benefits: Based on FY 15-16 FTE, negotiated agreements, PERA rate increase and no change in ER healthcare contribution. 11,782,624

FY 15-16 Purchased Services, Supplies and Other Expenditures

10,307,768

Estimated FY 15-16 Expenditures $62,516,037

Recap of Revenue/ExpendituresAMOUNT

Estimated Beginning Fund Balance $ 8,618,853

Estimated Revenue FY 14-15 62,516,037

Estimated Expenditures FY 14-15 62,516,037

Excess Exp over Revenue -0-

Estimated Ending Fund Balance 6/30/16 $8,618,853

Analysis of Fund BalanceTABOR – estimate $3,100,000

Board Policy – estimate 3,125,802

Non-spendable/Restricted - estimate 100,000

Assigned – estimate 150,000

Unassigned – estimate 2,143,051

Total Estimated Fund Balance $8,618,853

Budget Reduction ConsiderationsIMPACT AMOUNT

Reduce ESS Administration

Realign resources to the Buildings $700,000

Other FundsGeneral Fund – Sub FundsAthletics FundInsurance Reserve FundSpecial Revenue FundsNutrition Services FundGovernment Designated Purpose Grant FundAthletic FundFee Supported FundDebt Service FundsBond Redemption FundCapital Projects FundCapital Reserve Fund

MAY - 2015

12 Board of Education Meeting – Budget Strategic Planning

19 Board of Education – Study Session Proposed Budget submitted to Supt & BOE

26 Board of Education Meeting – Presentation of 2015-16 Preliminary Budget

JUNE – 2015

09 Board of Education Meeting – Public Hearing on the 2015-16 Proposed Budget

16 Possible Board of Education Meeting

23 Board of Education Meeting – Adoption of 2015-16 Budget

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