florence county school district three
DESCRIPTION
Florence County School District Three. 1 st Reading General Fund Budget Fiscal Year 2013-2014. Dr. V. Keith Callicutt Superintendent Donna D. Sullivan Director for Finance. March 21, 2013. Ensuring all students are prepared for success 100% College or Career Ready. MISSION. - PowerPoint PPT PresentationTRANSCRIPT
Florence County Florence County School District ThreeSchool District Three
1st Reading
General Fund BudgetFiscal Year 2013-2014
Dr. V. Keith CallicuttSuperintendent
Donna D. SullivanDirector for Finance
March 21, 2013
MISSIONMISSIONEnsuring all students are prepared for
success 100% College or Career Ready
FLORENCE SCHOOL DISTRICT THREEFLORENCE SCHOOL DISTRICT THREESUMMARY OF EXPENDITURES AND REVENUES – SUMMARY OF EXPENDITURES AND REVENUES –
GENERAL FUNDGENERAL FUNDFY 2014 PROJECT BUDGETFY 2014 PROJECT BUDGET
11stst Reading– March 21, 2013 Reading– March 21, 2013 Base Student cost of $2101. (Projected) Projected enrollment of 3,590 based on the 45th day enrollment
in FY 2013. Includes a 3.9 mil increase. No additional personnel No furlough days of certified or classified staff. No salary increases other than step increase for teachers. Unknown factors at this time – insurance costs (employee and
employer) and employer retirement match. This budget includes a SRO for each school which represents
an increase of 6 SRO’s district-wide at a cost of approximately $54,000/each, therefore, the total cost associated with these additional SRO’s is approximately $324,000.
Florence County School District ThreeFlorence County School District ThreeSummary of Expenditures and RevenuesSummary of Expenditures and RevenuesFY 2014 Projected General Fund BudgetFY 2014 Projected General Fund Budget
11stst Reading– March 21, 2013 Reading– March 21, 2013 PROPOSED 2014
REVENUES Local Sources 5,475,500 State Sources 16,950,448 Federal Sources 10,000 TOTAL REVENUES $22,435,948EXPENDITURESCurrent: Instruction 12,832,112 Supporting Services 10,464,407 Community Services 0 Intergovernmental Expenditures 0Debt Service: Principal 56,485 Interest 8,004TOTAL EXPENDITURES $23,361,008EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES ______________
_ (925,060)OTHER FINANCING SOURCES (USES) Sale of Fixed Assets 0
Use of Fund Balance 0
Operating Transfers In 665,000 Operating Transfers Out (37,000)TOTAL OTHER FINANCING SOURCES (USES) $628,000Net Change in Fund Balances _ ($297,060)
Florence County School District ThreeFlorence County School District ThreeProjected Revenue Budget 2013-2014Projected Revenue Budget 2013-2014
11stst Reading – March 21, 2013 Reading – March 21, 2013
Property Taxes 4,000,000 Property Tax Relief 802,083 Delinquent Taxes 300,000 Homestead Tax Exemption 429,000 Vehicle Taxes 1,000,000 Residential Tax Relief 1,567,344Penalties & Interest 10,000 Merchant's Inventory 94,239 Revenue in Lieu of Taxes 518,000 Manufacturer's Depreciation 700,000 Other Local Revenue 163,500 Misc Other State Revenue 21,000
Interest on Investments 2,000 Maintenance - Federal 10,000
Bus Driver Salary/Fringe 143,847 Transfer from EIA 415,000 Employee Fringe Benefits 3,542,077 Transfer from Special Revenue 250,000
Retiree Insurance 776,906 Education Finance Act 8,355,952
Revenue Source Amount Revenue Source Amount
GRAND TOTAL $23,100,948
FLORENCE COUNTY SCHOOL DISTRICT THREE FLORENCE COUNTY SCHOOL DISTRICT THREE PROJECTED EXPENDITURE BUDGET PROJECTED EXPENDITURE BUDGET
2013-20142013-201411stst Reading – March 21, 2013 Reading – March 21, 2013
% of Total Projected Expenditures% of Total Projected ExpendituresFY 2013-2014FY 2013-2014
5-Year Trend of 135-day ADM5-Year Trend of 135-day ADM
5-Year BSC Trend5-Year BSC Trend
Projected/Hse W&M
FCSD3 School District FCSD3 School District Assessed Value HistoryAssessed Value History
5-Year General Fund Budget Trend5-Year General Fund Budget Trend
5-Year Fund Balance Trend5-Year Fund Balance Trend
2012-2013 Proposed Timeline for 2012-2013 Proposed Timeline for Budget ApprovalBudget Approval
Thursday, March 21, 2013 1st Reading of2013-2014 Budget
March 22nd - April 15th , 2013 District Leadership Team Reviews Potential Cost Saving
Measures Tuesday, April 16th, 2013 1st Public Hearing
Balanced Budget Presented
Tuesday, May 14th, 2012 2nd Public Hearing
Thursday, May 16th, 2012 2nd Reading of
2013-2014 Budget All the above-meetings will begin at 6:30 pm
in the District Office Board Room