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EAST PENN SCHOOL DISTRICT

EAST PENN SCHOOL DISTRICT. BUDGET OUTLOOK 1/14/13. EAST PENN TIMELINE. January 14, 2013 – Adopt resolution not to exceed the index March 25, 2013 – Budget presentation for 2013-14 proposed final budget May 13, 2013 – Proposed final budget adoption

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EAST PENN SCHOOL DISTRICT

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  1. EAST PENN SCHOOL DISTRICT BUDGET OUTLOOK 1/14/13

  2. EAST PENN TIMELINE • January 14, 2013 – Adopt resolution not to exceed the index • March 25, 2013 – Budget presentation for 2013-14 proposed final budget • May 13, 2013 – Proposed final budget adoption • June 24, 2013 – Final budget adoption for 2013-14

  3. History of East Penn Millage % Increases versus Act 1 Index

  4. Dollar Value of Exceptions

  5. Capsule Look at 2013/14 Budget • 1.7% Index • State/Federal Funding Unknown • County-wide Reassessments and Court Appeals • EIT New Collector 2012 • Employee Contracts • Retirement Rate – 37% Rate Increase

  6. State Sources • Overall state sources are up due mainly to increased expenditures for: • Retirement payments based on the state’s half of retirement contributions for our employees. • State’s share of social security contributions

  7. Biggest Factors in Positive Position Debt Service -We spent $1,379,229 less in ‘11/12 than budgeted (refinancing and low interest on variable debt) Earned Income Tax – We received $1,037,890 more in ‘11/12 than budgeted (were told to expect lag with switch in collector starting Jan. 2012, but old collectors were still sending funds through June 2012 too)

  8. Rental & Sinking Fund Revenue from the state exceeded the budget in ‘11/12 by $994,270 due to $1,250,294 in unbudgeted funds received for Plancon J one-time final project reimbursements. Most of this was for debt service paid in prior years.

  9. CHARTER SCHOOL TUITION COST Charter Schools Charter Schools Charter Schools Charter Schools Charter Schools Charter Schools

  10. Other Items to Monitor for 2013/14 Budget Enrollment is starting to increase, especially Special Education students Transportation contract Few retirements are expected

  11. Summary • This is a constantly moving worksheet. It is a snapshot look at where we are at this point in time. • We stayed well under the index last year even though we qualified for exceptions to exceed the index. • Our ending fund balance was significantly higher than budgeted last year, which will allow us stay within the index in 2013-14 by spending it down. • We are also approaching the budget differently and allowing less to be budgeted in areas that were not spent last year. • We will continue to examine line items and revenues and make adjustments that will be reflected in the March 25 budget draft presentation to try to keep taxes as low as possible without cutting programs.

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