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Thornton Township High School District 205 Presentation of 2014-15 Tentative Budget

Thornton Township High School District 205 Presentation of 2014-15 Tentative Budget. Preparing Today for the Challenges of Tomorrow August 2014. Major Budget Assumptions:. Revenues R/E Taxes will grow pursuant to tax cap restrictions (CPI =1.5%).

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Thornton Township High School District 205 Presentation of 2014-15 Tentative Budget

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  1. Thornton Township High School District 205Presentation of 2014-15 Tentative Budget Preparing Today for the Challenges of Tomorrow August 2014

  2. Major Budget Assumptions: Revenues • R/E Taxes will grow pursuant to tax cap restrictions (CPI =1.5%). • General State-Aid will decrease $374,000. • State grant revenues will decrease due to: • Specific grants received in FY14 being eliminated. • District projected to receive $1.5 million less in prior year grant revenues. • District must reimburse State for prior grants received. • Federal grants will increase as increase as prior year grants received will more than offset reimbursement due back to federal government. Expenses • District debt payments will decrease by $1.2 million. • District will spend $5 million in total capital expenses. • Salaries and all other expenses budgeted to increase between 1% - 2%.

  3. Budgeted Revenues: Comparison of Budget Verses Prior Years

  4. Breakdown of Budgeted Revenues by Source

  5. Budgeted Expenses: Comparison of Budget Verses Prior Years – Excluding Major Capital Expenses

  6. Breakdown of Expenses by Type

  7. Revenues vs. Expenses

  8. Breakdown of Budget by Fund

  9. Historical and Budgeted Fund BalanceExcluding Bond Fund and Capital Reserve Fund

  10. Current Financial Threats Facing District • Shifting of teacher pension costs from State to District. • Estimated Impact: loss of $1.4 - $2.8 million annually. • Passage of Senate Bill 16. • Estimated Impact: loss of $3.6 million annually. • Creation of charter school. • Estimated Impact: loss of $4 - $6 million annually.

  11. End of Presentation • Questions and Comments

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