Wheaton Warrenville CUSD 200

Integrity. Commitment. Performance.™

PMA Financial Planning ProgramPresented byMichael Frances | Senior Financial AdvisorPMA Financial Network, Inc.January 26, 2011

Wheaton Warrenville CUSD 200

Integrity. Commitment. Performance.™2Data & Assumptions provided by District

PMA Financial Planning Program| Wheaton Warrenville CUSD 200

REVENUE BY SOURCE DETAIL - FY 2011

Property Taxes75.8%

Federal6.2%

Other State8.0%General State Aid

4.5%

Other Local5.5%

Operating Funds Revenue Budget – $145,057,505

Operating Funds: Educational, Operations & Maintenance, Transportation, IMRF, and Working Cash Funds



Consumer Price Index (CPI) - Levy Years

3.40%

2.50%

4.10%

0.10%

2.70%

1.50%

2.50% 2.50% 2.50% 2.50% 2.50%

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

3.5%

4.0%

4.5%

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016Actual Projected

Revenue Assumptions – Property Taxes



New Growth (In Millions)

$31.94 $31.71 $29.10$23.19

$90.0

$20.0 $20.0

$30.0 $30.0 $30.0 $30.0

$0.0

$10.0

$20.0

$30.0

$40.0

$50.0

$60.0

$70.0

$80.0

$90.0

$100.0

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016Actual Projected

Revenue Assumptions – Property Taxes



Revenue Assumptions – Other Local Revenue

• CPPRT:– Projected at $1.93 million annually (between current budget of

$1.73 million and DOR current estimate of $2.14 million)

• Investment Income:– FY12: 0.25% rate of return with 0.25% annual increases

• All other local revenues:– Projected at current FY11 budget



Revenue Assumptions – State & Federal• State Revenue

– General State Aid (GSA)• Factor of enrollment - Average Daily Attendance (ADA)

• Foundation Level – currently $6,119– $0 increase projected for FY12 & FY13

– $100 annual increase projected for FY14 – FY16

• Remain in Alternate Formula Funding – Other State Categorical Grants

• 10% projected decrease over current FY11 budget

• Federal Revenue– Reduction in FY12 due to loss of ARRA stimulus ($2.48 million) – Other Federal: no increase over current FY11 budget



General State Aid Revenue (in Thousands)

$9,068$9,636

$9,084

$7,214$6,560 $6,687 $6,777 $6,836 $6,876$6,610

0

2,000

4,000

6,000

8,000

10,000

12,000

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Actual Projected



Revenue – Sensitivity

• Tax Levy:– CPI 1% = +/- $1.2 million– New Property: $1 million = +/- $35,000

• General State Aid– $100 Foundation Level = +/- $117,000– $220 = district returns to foundation level formula

funding for FY12



FY 2011 EXPENDITURES BY OBJECT

Benefits10.7%

Salaries67.8%

Capital Outlay1.3% Other Objects

3.4%

Termination Benefits0.1%

Supplies And Materials

4.3%Purchased Services

12.5%

Operating Funds Expense Budget – $145,057,200




Expenditure Assumptions• Salaries

– Teachers• FY12: 1% increase, plus lane movement (est. $650,000)• FY13-16: 2.5% annual increases, plus lane movement ($650,000)

– Support Staff• FY12-16: 2.75% (annual step increases)

– Administration• FY12: 1% increase• FY13-16: 2.5% annual increases



Expenditure Assumptions - Other

• Health & Dental Benefits– FY12-16: 7% annual increases

• Purchased Services, Supplies, Capital Outlay, Tuition– FY12-16: 2.5% annual increases



CERTIFIED STAFF (FTE)

1,015.3 1,015.3 1,015.3 1,015.3 1,015.3 1,015.3

0.0

200.0

400.0

600.0

800.0

1000.0

1200.0

2011 2012 2013 2014 2015 2016Actual Projected

Staffing Assumptions

Excluding administration



Additional Assumptions

• No legislative changes in school funding

• No change to PTELL (Tax Cap)

• Includes known retirements in future years (27 in FY11, 17 in FY12, 35 in FY13, & 30 in FY14) with replacement teachers hired in at the BA+24 Lane Step 1

• Current FY11 Budget is accurate basis for projections



Projected Revenues vs. Expenditures - Aggregate


BUDGET

FY 2011 FY 2012 % chg FY 2013 % chg FY 2014 % chg FY 2015 % chg FY 2016 % chgREVENUE

Local $117,931,500 $122,402,907 3.79% $125,483,138 2.52% $129,431,620 3.15% $133,687,678 3.29% $138,030,865 3.25%State $18,114,210 $17,008,377 -6.10% $17,166,600 0.93% $17,339,864 1.01% $17,484,582 0.83% $17,612,544 0.73%

Federal $9,011,795 $6,532,800 -27.51% $6,532,800 0.00% $6,532,800 0.00% $6,532,800 0.00% $6,532,800 0.00%Other $0 $0 $0 $0 $0 $0

TOTAL REVENUE $145,057,505 $145,944,083 0.61% $149,182,538 2.22% $153,304,283 2.76% $157,705,060 2.87% $162,176,210 2.84%

EXPENDITURESSalary and Benefit Costs $113,921,900 $115,039,685 0.98% $118,441,981 2.96% $120,589,562 1.81% $123,221,214 2.18% $128,121,607 3.98%

Other $31,135,300 $31,913,458 2.50% $32,711,069 2.50% $33,528,621 2.50% $34,366,611 2.50% $35,225,551 2.50%TOTAL EXPENDITURES $145,057,200 $146,953,142 1.31% $151,153,050 2.86% $154,118,183 1.96% $157,587,825 2.25% $163,347,159 3.65%

SURPLUS / DEFICIT $305 ($1,009,059) ($1,970,512) ($813,900) $117,235 ($1,170,949)

OTHER FINANCING SOURCES/USESTransfer Among Funds (Net) $0 $0 $0 $0 $0 $0

Sale of Bonds $0 $0 $0 $0 $0 $0Other Financing Sources $0 $0 $0 $0 $0 $0

Other Financing Uses $0 $0 $0 $0 $0 $0TOTAL OTHER FIN. SOURCES/USES $0 $0 $0 $0 $0 $0

SURPLUS / DEFICIT INCL. OTHER FIN. SOURCES $305 ($1,009,059) ($1,970,512) ($813,900) $117,235 ($1,170,949)

BEGINNING FUND BALANCE $28,087,893 $28,088,198 $27,079,139 $25,108,627 $24,294,728 $24,411,963

PROJECTED YEAR END BALANCE $28,088,198 $27,079,139 $25,108,627 $24,294,728 $24,411,963 $23,241,014

FUND BALANCE AS % OF REVENUES 19.36% 18.55% 16.83% 15.85% 15.48% 14.33%

REVENUE / EXPENDITURE PROJECTIONS



Historical / Projected Fund BalancesProjected Year-End Balances

(Educational, Operations and Maintenance, Transportation, IMRF, and Working Cash Funds.)

$23,241,014$24,411,963$24,294,728$25,108,627

$27,079,139$28,087,893 $28,088,198

$37,112,266

$24,646,753

$27,720,732

$31,153,987

$4,170,495

($227,519)

($4,376,568)

$8,317,452

($2,181,938)

($5,006,513)($7,182,701)

($9,879,879)($12,133,095)

($13,494,615)($15,684,561)

($20)

($10)

$0

$10

$20

$30

$40

$50

Educational Operations and Maintenance Transportation IMRF Working Cash

Mill

ion

s

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 FY End Balances Low-Point Balance



ISBE Financial Profile

3.00 3.00 3.00

3.35

3.00

3.35

3.00 3.00 3.00

3.35

3.00

0

0.5

1

1.5

2

2.5

3

3.5

4

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

0 - Watch - 2.61

2.62 - Early Warning - 3.07

3.08 - Review - 3.53

3.54 - Recognition - 4

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Wheaton Warrenville CUSD 200