final budget 2016-2017 - north shore school district 112 · bus office_boardmemos_fy17 final...
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Board of Education Meeting
September 20, 2016
Prepared by:
Christopher Wildman, CPA
CFO &TREASURER
Final Budget 2016-2017
North Shore School District 112 FY17 BUDGET 2016-2017
Mission Statement
The mission of North Shore School District 112, a community
partnership committed to a world-class education, is to
nurture every child to become an inspired learner, a well-
rounded individual and contributing member of a global
community by striving for excellence within an environment
that fosters innovation, respect, engagement and intellectual
inquiry.
2Bus Office_Boardmemos_FY17 Final Budget_Date:9/20/16
North Shore School District 112 FY17 BUDGET 2016-2017
• Review Tentative Budget June 21, 2016
• Display Tentative Budget July 14, 2016
• For Public Display minimum of 30 Days
• Review/Adopt Final Budget September 20, 2016
• Public Hearing
• File Adopted Budget – County September 30, 2016
3Bus Office_Boardmemos_FY17 Final Budget_Date:9/20/16
Timetable
North Shore School District 112 FY17 BUDGET 2016-2017
• Ensure new and existing programs are consistent with
the strategic plan and that benefits justify costs
• Maintain an operating fund balance of at least 25%
• Ensure the sustainability of the district’s financial and
human resources and their equitable distribution
4Bus Office_Boardmemos_FY17 Final Budget_Date:9/20/16
Strategic Plan Objectives and Parameters
North Shore School District 112 FY17 BUDGET 2016-2017 5Bus Office_Boardmemos_FY17 Final Budget_Date:9/20/16
FY17 Budget – All Funds - Snapshot
FUNDS REVENUES EXPENDITURESEducation 59,828,540 59,264,864
Operations & Maintenance
10,358,167 13,029,021
Transportation 2,979,335 2,937,011
Working Cash 84,936
Life Safety 712,952
Tort 56,018
Total Operating $73,963,930 $75,286,914
SS/IMRF 1,654,029 1,628,560
Debt Service 6,827
Total – All funds $75,624,786 $76,915,474
North Shore School District 112 FY17 BUDGET 2016-2017
Revenues
• GSA allocation has been finalized. Increase of $25,000.
• CPPRT to include payback of FY16 overpayment.
Decrease of $180,000.
Expenditures
• Decrease of $90,000 in enrollment related
expenditures, due to finalization of building budgets.
What has changed since the FY17
Tentative Budget Presentation?
6Bus Office_Boardmemos_FY17 Final Budget_Date:9/20/16
Changes
Net Decrease: $65,000
North Shore School District 112 FY17 BUDGET 2016-2017
89%
6%
3%0%1%
1%0%
PROPERTY TAXES
STATE
FEDERAL
INTEREST
LOCAL
OTHER
NOTE - EXCLUDES: TRANSFERS AND ON-BEHALF PAYMENT TO TRS
7Bus Office_Boardmemos_FY17 Final Budget_Date:9/20/16
Sources of Revenues
North Shore School District 112 FY17 BUDGET 2016-2017
• General State Aid
• Special Education Aid
• Early Childhood
• Bilingual
• School Breakfast/Lunch
• Library
• Transportation
8Bus Office_Boardmemos_FY17 Final Budget_Date:9/20/16
State Revenues (Categories)
North Shore School District 112 FY17 BUDGET 2016-2017
State Aid:
• General State Aid $ 1,207,676
• Other Categorical Aid $ 3,552,214- Special Ed; School Breakfast/Lunch;
Transportation;
9Bus Office_Boardmemos_FY17 Final Budget_Date:9/20/16
State Revenues (Categories)
North Shore School District 112 FY17 BUDGET 2016-2017
• Title I – Improving Achievement $ 439,395
• Title II – Teacher Quality $122,141
• Title III – Improving Instruction $ 98,250
Total Title Funds $ 659,786
10Bus Office_Boardmemos_FY17 Final Budget_Date:9/20/16
Federal Revenues (Categories)
North Shore School District 112 FY17 BUDGET 2016-2017 11Bus Office_Boardmemos_FY17 Final Budget_Date:9/20/16
Federal Revenues (Categories)
Other Federal Revenue:
• Medicaid $ 129,458
• IDEA $ 717,321
North Shore School District 112 FY17 BUDGET 2016-2017
• Real Estate Taxes
• Corporate Replacement Taxes
• Interest Income
• Food Service Sales
• Student Fees
• Rental Fees
12Bus Office_Boardmemos_FY17 Final Budget_Date:9/20/16
Local Revenues (Categories)
North Shore School District 112 FY17 BUDGET 2016-2017
58%
10%
15%
4%
10%
3%0%
SALARIES
EMPLOYEE BENEFITS
PURCHASED SRVICES
SUPPLIES
CAPITAL OUTLAY
TUITION
OTHER
NOTE - EXCLUDES: TRANSFERS AND ON-BEHALF PAYMENT TO TRS
13Bus Office_Boardmemos_FY17 Final Budget_Date:9/20/16
Types of Expenditures
North Shore School District 112 FY17 BUDGET 2016-2017
Revenues not keeping pace with expenditures
• Historically low CPI
• Stagnant Federal/State funding
• Military Impact Aid is Insignificant
• Interest Rates continue to stay low
Facilities Needs
• Aging Buildings are Costly to Repair
• Small Buildings are Inefficient to Operate
14Bus Office_Boardmemos_FY17 Final Budget_Date:9/20/16
Financial Challenges
North Shore School District 112 FY17 BUDGET 2016-2017
• Continuation of 1-to-1 Chromebook initiative: $270,000
• New website: $32,000
• Experiential kindergarten learning environment
enhancements:- $70,000 multi-year roll-out
• Elementary FOSS science resources: $218,000 + $270,000
special allocation
• Co-teaching: $15,000
• Social Emotional Learning: $10,000 multi-year roll-out
15Bus Office_Boardmemos_FY17 Final Budget_Date:9/20/16
Major Initiatives in FY 17
North Shore School District 112 FY17 BUDGET 2016-2017 16Bus Office_Boardmemos_FY17 Final Budget_Date:9/20/16
• Getting ahead of the capital curve – change in approach to normalize the project work by ‘doubling up’
• Large roof replacements – Indian Trail ($600,000), Northwood ($1,000,000) and Sherwood ($600,000)
Major Capital Projects in FY 17
North Shore School District 112 FY17 BUDGET 2016-2017 17Bus Office_Boardmemos_FY17 Final Budget_Date:9/20/16
• Monthly Treasurer’s Report: Month-to-month report of the District’s activity. Includes cash and investments.
• Monthly Financial Report: Budgetary summary report with metrics and variance analysis:
• Prior Year Actual to Current Year Actual.• Current Year Budget to Current Year Actual.
Oversight
North Shore School District 112 FY17 BUDGET 2016-2017 18Bus Office_Boardmemos_FY17 Final Budget_Date:9/20/16
QUESTIONS?
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