FY2016 Preliminary Budget Appoquinimink School District July 14, 2015 Presentation

FY2016 Preliminary BudgetAppoquinimink School District

July 14, 2015 Presentation

What we will cover Budget process and timeline Goals Tax rates Major changes from last year’s final budget Preliminary budget Fund balances

Preliminary Budget

May/June Forecast final revenues/expenditures Meet with schools and departments to discuss

upcoming needs Make Superintendent and Financial Advisory

Committee aware of potential major budget issues Project next fiscal year revenues based on

forecasted final revenues/expenditures, draft State budget, and other known factors that may affect the budget

Process and timeline

NOTE: New fiscal year begins July 1. State pre-loads appropriations in Appoquinimink School District’s “account” (typically 75%)

June/July Draft annual tax warrant Draft preliminary budget based on final State budget

and prior year figures Preliminary budget and tax warrant reviewed by

Financial Advisory Committee (FAC) Preliminary budget and tax warrant presented to the

Board for approval


October/November – unit count finalized by DOE December/January – balance of State money

allocated to districts; prepare final budget January/February – final budget reviewed by FAC,

presented to Board April through July – if needed, amendments to the

final budget are considered by the FAC and Board


Monitoring and reporting Finance Director monitors appropriation balances

and expenditure budgets Payroll staff monitor reports after each payroll

disbursement Finance staff, schools and departments review

reports weekly/monthly as applicable Monthly reporting to FAC, Board, public Annual audits performed by State Auditor of

Accounts (results posted on AoA web site)


Goals Support the District’s mission and goals Develop a transparent budget document that

tells the big-picture story regarding our revenue and expenditure budgets, fund balances, tax rates and revenue, and bonded debt

Build and maintain our reserve

Budgetary Goals

Tax rates Operating: no change Debt Service: -2.0¢ per $100 Match (Minor Capital, Tech, Extra Time, Reading

and Math Specialists): -1.0¢ per $100 overall Tuition: +3.6¢ per $100 Per penny tax revenue is up $6,871 ($198,701)

Tax rates

In general OEC (Other Employment Costs) went up from

30.08% of payroll to 30.48%, a 1.3% increase Projected enrollment change is +230 students

(+2.3%) Projected inflation for budgeting purposes is

+2.0% (CPI-All for Phila-Wilm-Atl City was +0.0%, Wash-Balto was +0.4%; without energy and food, Phila-Wilm-Atl City was +2.0%)

Major changes from last FY

Revenue Budget Projections Div I salaries (State formula salaries) – $2.7M

increase over FY15 actual based on steps, OEC and benefit cost increases, and enrollment growth

Div II, Div III and Ed Sustainment increased based on enrollment growth. Ed Sustainment increased $1 million statewide and ASD will receive a share of it

State Transportation – decreased due to lower fuel costs


Total local tax revenues increased due to increase in assessment base ($6,871 per penny) and 0.6¢ per $100 overall tax rate increase

Federal funds total is up 3.3% (preliminary allocations)


Expenditure Budget Projections Div I, Federal, Trans – adjusted to match revenue 99940400/99999 Div III/Local Salaries – increased

$2.65 million (4.6%) due to local raises, steps, OEC rate increases, and enrollment growth

Tuition - $765K increase due to local raises, OEC rate increase, increased needs-based special education enrollment, increased cost of out-of-district placements


One-time budget line for Technology ($682K) to cover costs of infrastructure (wired and wireless) for the one-to-one iPad project and the bring your own device (BYOD) project, for some urgently needed hardware replacements (computers, printers, servers etc.), and a visitor sign-in system at each school


Match Tax Revenue and Associated Expenditures To increase transparency, the four match tax

components were split out: Minor Capital Improvements (MCI) Technology Match Extra Time Match Reading and Math Specialists Match


FY2016 Revenue Budget

State Funds (Div I/II/III/Other) 84,229,194

Minor Capital Projects State Share 722,000

Local Funds Current Operations Tuition Match Taxes Debt Service Choice and Charter (payments) Other Local

18,856,8458,503,1971,764,5616,194,250

(1,273,800)3,732,000

Federal Funds 2,951,214

Construction (State + Local) 0

TOTAL 125,541,388

FY2016 Revenue Budget

State Local Federal

FY 2016 72.8% 24.7% 2.5%

FY 2015 72.9% 24.5% 2.6%

FY 2014 71.8% 25.9% 2.3%

FY 2013 74.9% 22.9% 2.2%

FY 2012 72.6% 23.1% 4.3%

FY 2011 72.6% 23.7% 3.7%

Sources of Revenue(excludes Major Capital, Debt Service, Local Cafeteria)

FY2016 Expenditure Budget

Operating Budget 106,389,843

Tuition Special Placements Needs-Based

2,500,0006,520,000

Match Tax Funds (excluding Minor Cap) 1,110,000

Local Cafeteria 2,900,000

Major/Minor Capital Improvements Major Capital Projects Minor Capital (State and Match)

01,203,333

Local Debt Service 5,848,288

TOTAL 126,471,464

Operating FundStarting fund balance July 1 (unencumbered) 8,416,227

Projected surplus (or shortfall) of revenuesover expenditures, FY16 (414,590)

Projected final fund balance (unencumbered) 8,001,637

This is our “local carryover” amount.

It includes $4,500,000 in our Reserve Appropriation.

Fund balances

Local Debt Service FundStarting fund balance July 1 (unencumbered)

2,899,853

Projected surplus (or shortfall) of revenuesover expenditures, FY16 354,962

Projected final fund balance (unencumbered) 3,254,815

Fund balances

Tuition FundStarting fund balance July 1 (unencumbered)

824,730


Projected final fund balance (unencumbered) 164,127

Fund balances

Minor Capital Projects Match FundStarting fund balance July 1 (unencumbered) 69,267

Projected surplus (or shortfall) of revenuesover expenditures, FY16 127,608


Fund balances

Reading and Math Specialists Match FundStarting fund balance July 1 (unencumbered) 61,941



Fund balances

Technology Match FundStarting fund balance July 1 (unencumbered) 10,741



Fund balances

Extra Time Match FundStarting fund balance July 1 (unencumbered) 525,283



Fund balances

Cafeteria FundStarting fund balance July 1 (unencumbered) 420,876



Fund balances

FY2016 Preliminary Budget

Questions?

Documents

FY2016 Preliminary Budget Appoquinimink School District July 14, 2015 Presentation