1 / 16

OVERVIEW OF FINANCIAL STATUS

OVERVIEW OF FINANCIAL STATUS. Presented To: Chenango Forks CSD Presented On: November 14, 2013 Presented By: Kathy Blackman, C.P.A. Controller, Central Business Office. Tonight’s Topics. Fund Balance Concepts Long Range Projection Assumptions

rene
Télécharger la présentation

OVERVIEW OF FINANCIAL STATUS

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. OVERVIEW OF FINANCIAL STATUS Presented To: Chenango Forks CSD Presented On: November 14, 2013 Presented By: Kathy Blackman, C.P.A. Controller, Central Business Office

  2. Tonight’s Topics • Fund Balance Concepts • Long Range Projection Assumptions • CBO Long Range Projection • Other Long Range Projection Scenarios • Summary of Scenarios • Impact to Programs • Questions

  3. Fund Balance • Fund Balance is the Equity of the School District • Unassigned Fund Balance is that part of Fund Balance which is not designated for reserves, tax levy reductions, etc. • Unassigned Fund Balance is statutorily limited to 4% of the budget for the upcoming school year • Assigned Fund Balance is the amount of fund balance designated to support the following year’s budget.

  4. Structural Deficit • A budget deficit that results from a fundamental imbalance in government receipts and expenditures, as opposed to one based on one-time or short-term factors.

  5. Long Range Projections • Developed based on ACTUAL projected expenditures and revenues—NOTBUDGET • 2013-2014 thru 2017-2018 • Breaks down major categories of expenditures and revenues and applies a series of assumptions

  6. Long Range Projection Assumptions Expenditure Increases • Salaries: 2.5% all years • TRS Rate: Increase to 17.75% and then slowly decrease • ERS Rate: Small decrease in 14-15 with continued decrease • Health Insurance: 3.99% in 14-15 and then 7% • BOCES: 7% in 14-15 and then 4% • Fuel & Utilities: 3% all years • Debt Service: Based on actual schedules • All Other Expenditures: 1% all years

  7. Long Range Projection Assumptions Revenue Increases • Building Aid: Based on projected debt service • All Other State Aid: 1.5% all years • Other Revenue: Flat with adjustments made for anticipated change in health insurance surplus distribution • Tax Levy: 1.5% in 14-15 and 2% Thereafter

  8. CBO Long Term Projection1.5% Levy and 2% Thereafter *Excludes encumbrance carry over

  9. Additional Scenarios In the following scenarios the only change that was made was for the tax levy: • 2.5% for 4 years • 9.9%, 9.9% and then 2.5% for 2 years • 0% for one year and 2.5% thereafter • 12.5% for one year and 2.5% thereafter

  10. Long Term Projection2.5% Tax Levy Increase Annually *Excludes encumbrance carry over

  11. Long Term Projection9.9% Tax Levy Increase for 2 Years *Excludes encumbrance carry over

  12. Long Term Projection0% Tax Levy Increase for 1 Year *Excludes encumbrance carry over

  13. Long Term Projection12.5% Tax Levy Increase for 1 Year *Excludes encumbrance carry over

  14. Summary

  15. Summary

  16. Impact to Programs

More Related