SLPS FY 2013 – Q3 Update

General Operating Budget (GOB)

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Leon Fisher, Chief Financial Officer

June 2012 - Adopted Budget: $264.8M◦ (Revenues = Expenditures)

July 2012 - Budget Amendment◦ $7.1M for revenues and expenditures associated with1,700

additional students (Formerly Imagine Academy)

November 2012 - Budget Amendment ◦ $12.4M for revenues and expenditures associated with 800+

additional students, tax levy (recoupment), misc. adjustmentsAmended GOB Revenues = $284.3 Million

◦ Amended GOB Expenditures = $288.1 Million◦ Planned Utilization of Unrestricted Fund Balance = $3.8 Million

FY 2013 GOB Budget Modifications

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Q2 Projection Q3 Projection

Revenues 285.2M 286.8M

Expenditures 287.7M 286.6M

Annual Surplus/(Deficit) ($ 2.5M) $ 0.2M

FY 2013 Year-End Projection Q2 vs Q3

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Revenues $ 1.6MHigher tax revenue collection rate offset by lower transportation revenue

Expenditures ($ 1.1M)New staff salary savings & vacancies

FY 2013 Year-End Projection Q2 vs Q3 cont.

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5Saint Louis Public Schools Quarterly Financial Report 5

FY 2012-13 GOB Year-End Projection (end of Q3)

Description FY11/12 FY12/13 FY12/13 FY12/13Final Adopted Amended 3rd Quarter

Projection

Beginning Fund Balance $0 $3,278 $3,278 $3,278

Local Revenues 206,272 212,540 216,831 220,577 County Revenues 3,581 3,649 3,611 3,537

State Revenues 53,542 42,485 58,801 56,915 Federal Revenues 7,798 6,126 4,992 5,810 Total Revenues $271,193 $264,800 $284,235 $286,839

Salaries & Benefits

Regular Salaries 134,156 129,454 137,234 135,861 Temporary/Overtime 11,587 9,778 11,900 12,538

Benefits 52,932 56,411 63,188 62,965 Total Salary & Benefits $198,675 $195,643 $212,322 $211,364

Operational Expenditures

Purchased/Prof. Services 26,559 26,632 27,897 27,108 Property Services 9,501 10,933 11,609 11,586

Contracted Transportation 21,172 20,325 23,060 23,076 Operational Expenditures 11,944 11,268 13,207 13,443

Debt Obligations - - - - Total Other $69,176 $69,157 $75,772 $75,213

Total Expenditures $267,851 $264,800 $288,094 $286,577

Addition/(Depletion) of Reserves $3,278 0 (3,859) 262 Ending Fund Balance - GOB $3,278 $3,278 ($581) $3,540

FY 2012-13 Additional Considerations

Risks Opportunities

Tax Revenues◦ Protested taxes

Retirement Payouts (vacation, sick, and personal days)

State Formula Funds

Staff Vacancies

Savings Due to Improved Contract Monitoring

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