FY2010 Preliminary BudgetAppoquinimink School District

July 14, 2009 Presentation

What we will cover

Process and timelinePrinciplesMajor changes from FY2009The budget

ASD FY2010 Preliminary Budget

Start with FY2009 Final BudgetMay/June – forecast final FY2009

revenues/expendituresMay/June – meet with schools and

departments to discuss FY2010 needs

Process and timeline

May/June – make Superintendent and Financial Advisory Committee aware of potential major budget issues

June – forecast FY2010 revenues based on FY2009 and draft State budget

June/July – set tax rates

Process and timeline

July – adjust based on final State budget and FY2009 ASD figures

July – preliminary budget reviewed by Financial Advisory Committee (FAC)***

July – preliminary budget presented to the Board for approval***

*** These may be done in June in years of more financial certainty

Process and timeline

July 1 – fiscal year begins – operate conservatively using draft preliminary budget until Board approval

July 1 (or so) – State pre-loads State appropriations in Appoquinimink’s “account” (typically 75%)

October – unit count finalized, balance of State money allocated

Process and timeline

December – prepare final budgetJanuary – final budget reviewed by

FAC, presented to BoardApril-July – amendments to the final

budget may be considered by the FAC and Board

May – cycle starts again

Process and timeline

Monitoring and reporting Finance Director monitors appropriation

balances and expenditure budgets almost daily

Payroll staff monitor reports after each payroll disbursement

Finance staff review reports weekly/monthly as applicable

Monthly reporting to FAC, Board, public

Process and timeline

Balanced budget (total revenue budget = total expenditure budget)

Build and maintain our reservePreliminary budget conservatively

forecasts revenues in a lean year like FY2010

Budgeting Principles

Federal – additional $1.8 million in ARRA (“Stimulus”) one-time special education funds – spending plan being developed openly with a committee of parents, Board, district and school staff

Federal – also receiving smaller amounts of ARRA funds for nutrition equipment and homeless student support

Major changes from FY2009

ARRA Stabilization funds are filling State cuts in Student Success, Technology, ELL, Reading Resource, Math Specialists, Tax Relief, Academic Excellence Allotment (~$1.5M total)

Preliminary budget shows these funds as State – will likely show as Federal in the final budget

Major changes from FY2009

The ARRA Stabilization funds should also be available to backfill the zeroed-out State appropriations for FYs 2010 and 2011, but not after that

State salaries – 2.5% cut on State side – Appoquinimink’s “furlough” plan has not been finalized

Major changes from FY2009

Local –$500K from reserve to balance the budget (to cover contractual local raises)

IBU16 (Instructional Materials) cut 17% then split between school budgets and the district textbook fund

Building Use/Rentals revenue is now a line in the detailed revenue budget

Major changes from FY2009

Major capitalAll Year Three funding is in the Bond

Bill (less $273,966)“Escheat” funded construction from

FY2009 – never received in FY09 but it was added to FY2010 bond bill

Major changes from FY2009

Major Capital Bond FundingProject State Local TotalRenov/Add MHS 3,942,900 1,548,400 5,401,300

Renov CLE 9,371,400 3,466,134 12,837,534

Renov RMS 555,500 205,500 761,000

Renov MMS 40,300 14,900 55,200

BME Serving Line 56,700 21,000 77,700

Renov SLE 260,600 96,400 357,000

TOTALS 14,227,400 5,262,334 19,489,734

FY2010 Prelim Revenue BudgetState Funds (Div I/II/III/Other) 65,789,148

Local Funds Current Operations Tuition Minor Cap/Tax Match Debt Service Other Local

13,654,4115,285,0001,226,7405,960,0002,247,812

Federal Funds 3,926,457

Construction (State + Local) 19,489,734

Debt Service State Share 6,049,446

Minor Cap State Share 472,716

TOTAL 124,101,464

FY2010 Prelim Revenue Budget

70%

27%

3%

STATE86.5M

FEDERAL3.9M

LOCAL33.6M

TOTAL124.1M

Was 3%, 26%, 72% in FY09

FY2010 Prelim Expenditure BudgetOperating Budget 36,416,629

Division I 45,518,706

Tuition In-State Tuition/Private Placement ILC, DFP, DFP PreK, Needs-Based

1,600,0003,685,000

Federal Funds 3,926,457

Major Capital Improvements Debt Service Construction

12,009,44619,489,734

Minor Capital/Match Extra Time Local Minor Capital Improvements Technology Local

413,000787,860254,632

TOTAL 124,101,464

FY2010 Preliminary Budget

This preliminary budget was reviewed and endorsed by the Financial Review Committee on July 7, 2009

Questions?Approval