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North Mac CUSD #34

North Mac CUSD #34. 2016-2017 Budget Presented to the Board of Education August 24, 2016. Budget 2016-2017 School Funding Basics. North Mac uses Cash Basis Accounting: Revenues and expenditures are recognized at the time cash is received or disbursed

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North Mac CUSD #34

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  1. North Mac CUSD #34 2016-2017 Budget Presented to the Board of Education August 24, 2016

  2. Budget 2016-2017School Funding Basics • North Mac uses Cash Basis Accounting: Revenues and expenditures are recognized at the time cash is received or disbursed • Beginning fund balances as of 7/1/2016 have been determined by the district auditors

  3. Budget 2016-2017School Funding Basics • Public School Budgets are estimates of revenues and expenditures • Unanticipated personnel costs will impact expenditures • State and local revenue delays will affect cash flow and budget revenue streams • Changes in personnel or student needs will impact expenditures

  4. Budget 2016-2017State Funding Changes • General state aid increased $103,255 • Transportation will be prorated at 72%; a loss of $132,871 • The state currently owes the district $195,704 from FY16 • No legislative change was made to the school funding formula

  5. Budget 2016-2017Local Tax Revenues • FY17 budget reflects an increase in EAV of approximately 1.50% • FY17 budget contains $125,000 corporate personal property replacement tax dollars in the Transportation Fund and $9,000 in the IMRF fund • The State has yet to set repayment method or schedule for the $28,000 in CPPRT overpayments discovered last year

  6. Budget 2016-2017Federal Revenues • Projected Federal revenues are $1,098,900 from various programs including: • Title I • Title II • I.D.E.A.(Special Education) • Medicaid • School Meals Program

  7. Budget 2016-2017General • Education Fund will have deficit spending ($59,120) • Operations & Maintenance Fund will increase $88,982 • The Transportation Fund will increase $35,345* • The Health Life Safety Fund will be in deficit spending ($1,146,173)as HLS Bond projects are completed and paid *dependent upon final state budget and timeliness of payments

  8. Budget Summary Detail“Operating” Funds • State Defined “Operating” Funds • Education Fund • Operations & Maintenance • Transportation Fund • Working Cash Fund These funds are used in the formula to determine the financial profile of a school district

  9. North Mac Financial Profile Score • June 30, 2012 2.55 Watch • June 30, 2013 3.35 Review • June 30, 2014 3.9 Recognition • June 30, 2015 3.9 Recognition • June 30, 2016 3.9 Recognition (est.)

  10. Daily Operating Costs

  11. Revenue Detail

  12. Revenue Sources Local Sources: • Tax Revenues from Levy • Corporate Personal Property Replacement Tax • Food Service Revenues • Local and School Fees • County School Facilities Sales Tax • Interest State Sources: • General State Aid • Grant Revenues • Mandated Categoricals (Special Ed/Transportation) Federal Sources: • Title Funding • Medicaid • I.D.E.A. (Special Education) • Grant Revenues • Food Programs

  13. Revenue % Breakdowns

  14. Revenue History

  15. Expenditure Detail

  16. Expenditure Overview • ISBE classifies expenditures using the following categories: • Salaries • Benefits • Purchased Services • Supplies • Capital Outlay • Other (Includes Dues/Fees, Tuition and Debt Principal/Interest)

  17. Education Fund Expenditures

  18. Operations & Maintenance FundExpenditures

  19. Transportation Expenditures

  20. FY 17 Budget Summary

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