First Draft Budget

Fiscal Year 2015

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Monday, July 14, 2014

Presentation Overview

• Budget to Actual review for FY 2014

• State funding for FY 2015

• FY 2015 First Draft Budget

• Options for Budget Excess

• Future Focus and Activities

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• Drilled down into FY2014 as of May, 2014

Revenues • Property tax revenues

• Increase in new property – developments are picking up

• CPI for 2013 tax year – 1.7%

• General State Aid

• Prorated at 89%

• Categorical Aid

• Anticipate receiving 4 mandated categorical aid payments

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Budget to Actual Review FY 2014

Budget to Actual Review FY 2014

Expenditures • Salaries

• Appear to be within budget

• Benefits • Claim experience appears to be trending better than previous years

• Delayed Affordable Care Act (ACA)

• Purchased services, supplies & capital outlay all within budget • Transportation trending better than previous years

– Regular

– Special Education

– Homeless

• Food Service trending better than previous years

• Overall – Appear to be within budget

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FY 2015 Budget Information

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• GSA – Foundation Level @ $6,119 • FY 2012 Prorated @ 94%

• FY 2013 Prorated @ 89%

• FY 2014 Prorated @ 89%

• FY 2015 GSA • General Assembly Initial Proration @ 65%

• Governors Non - Recommended Proration @ 79%

• Governors Recommended Proration @ 91%

• ISBE Recommendation @ 100%

• District Forecasted Proration @ 82%

• FY 2015 Final Proration @ 89%

FY 2015 Budget Information

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SpEd - Personnel Reimbursement 0.1% 5,673.24$

SpEd - Funding for Children Sped. Serv. -0.1% (3,462.78)$

SpEd - Orphanage Tuition -9.5% (578.13)$

SpEd - Private Tuition 5.1% 126,743.45$

SpEd - Summer School 0.0% -$

SpEd - Transportation 2.3% 157,203.26$

Illinois Free Lunch/Breakfast -37.1% (11,977.74)$

Transportation Regular/Vocational 0.0% -$

273,601.31$

GSA 2,645,257.73$

Total 2,918,859.03$

Additional $273K in Categorical & $2.6M in GSA

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FY 2015 First Draft Budget Operating Funds

48,765,736 19,500,472 10,367,358 5,261,677 12,481,310 57,163 96,433,716

PROJECTED REVENUE

Local Sources 212,115,089 25,753,647 8,962,190 6,810,838 667,240 1,430,981 255,739,985

State Sources 39,248,202 300,000 6,530,000 46,078,202

Federal Sources 10,258,143 10,258,143

Total Projected Revenue 261,621,434 26,053,647 15,492,190 6,810,838 667,240 1,430,981 312,076,330

PROJECTED EXPENDITURES

Salaries 193,085,196 812,457 395,814 194,293,468

Benefits 33,591,359 42,229 30,759 6,673,655 40,338,002

Purchased Services 10,273,946 12,504,951 14,964,668 1,420,000 39,163,565

Supplies & Material 6,799,220 5,803,530 12,602,750

Capital Outlay 219,310 6,710,870 46,000 6,976,180

Other Objects 8,462,583 8,462,583

Non-Capital Equipment 5,293,224 18,640 5,311,864

Total Projected Expenditures 257,724,839 25,874,037 15,455,881 6,673,655 0 1,420,000 307,148,412

PROJECTED EXCESS / (DEFICIT) 3,896,595 179,610 36,309 137,183 667,240 10,981 4,927,917

Other financing sources (uses)

Lease transfer -1,112,200 -112,500 -1,224,700

Excess (Deficit) & other financing sources (uses) 2,784,395 67,110 36,309 137,183 667,240 10,981 3,703,217

51,550,131 19,567,582 10,403,667 5,398,860 13,148,550 68,144 100,136,933

32.09%

PROJECTED BEGINNING FUND BALANCE

PROJECTED ENDING FUND BALANCE

OPERATING FUNDS

TotalTort

Working

CashIMRF/SSTransportation

Operations &

MaintenanceEducation

FY 2015 Budget Continued

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• Draft Budget as presented – 32.09% fund balance

• $3.5M in Capital Improvements

• $2.5M in additional Technology

• $3.7M excess • State revenue will continue to be unpredictable

• Avoid ongoing expenses

• Opportunity to partially air condition elementary schools

• Increase H.S. athletic opportunities to align with DuPage Valley Conference (DVC)

• Place in Fund Balance

• Complete some Capital Improvements

Recommendation

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Partial Elementary AC 2,775,000$ Partial Elementary AC 2,775,000$

Electrical Upgrade (4 schools) 600,000$ Electrical Upgrade (4 schools) 600,000$

Engineers Fees 50,000$ Engineer Fees 50,000$

H.S. Athletics 120,000$ H.S. Athletics 120,000$

Building Automation System Upgrade 150,000$

Total 3,695,000$ Total 3,545,000$

Fund Balance 8,217$ Fund Balance 158,217$

Option A Option B

Heat Committee Recommendations

• Temperature Monitoring Devices • Equipment has been identified

• Equipment sampled in July

• Installation this August

• 4 classrooms per building in all non air conditioned buildings

• Water Fountain Bottle Fillers • 1 bottle filler per building

• Installation completed by the end of July

• Instructional Ideas shared across buildings

• Principals continue to share ideas with each other about PTA collaboration

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Center For American Progress

Return on Educational Investment: 2014

A District – by – District of U.S. Educational Productivity

By Ulrich Boser July 2014

• “Bang for educational buck”

• Measures productivity of nations schools

• Educators are asked to do more with less

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Return On Educational Investment

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Lowest Achievement

Highest Achievement

Medium Achievement

Lowest Cost

Medium Cost

Highest Cost

IPSD 204 & 1 Comparable District

6 of our Comparable Districts

Looking Forward……

• Continue to monitor Springfield • SB16

• Amendment 1 to SB589

• Race for Governor

• Pension Reform

• Income Tax Rate

• Continue finalizing FY15 budget

• Upcoming Dates • August 18, Board Meeting – Approve Tentative Budget

• September 22, Board Meeting – Budget Hearing and final approval

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