fy2010 preliminary budget appoquinimink school district july 14, 2009 presentation
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FY2010 Preliminary Budget Appoquinimink School District July 14, 2009 Presentation. ASD FY2010 Preliminary Budget. What we will cover Process and timeline Principles Major changes from FY2009 The budget. Process and timeline. Start with FY2009 Final Budget - PowerPoint PPT PresentationTRANSCRIPT
FY2010 Preliminary BudgetAppoquinimink School District
July 14, 2009 Presentation
What we will coverProcess and timelinePrinciplesMajor changes from FY2009The budget
ASD FY2010 Preliminary Budget
Start with FY2009 Final BudgetMay/June – forecast final FY2009
revenues/expendituresMay/June – meet with schools and
departments to discuss FY2010 needs
Process and timeline
May/June – make Superintendent and Financial Advisory Committee aware of potential major budget issues
June – forecast FY2010 revenues based on FY2009 and draft State budget
June/July – set tax rates
Process and timeline
July – adjust based on final State budget and FY2009 ASD figures
July – preliminary budget reviewed by Financial Advisory Committee (FAC)***
July – preliminary budget presented to the Board for approval***
*** These may be done in June in years of more financial certainty
Process and timeline
July 1 – fiscal year begins – operate conservatively using draft preliminary budget until Board approval
July 1 (or so) – State pre-loads State appropriations in Appoquinimink’s “account” (typically 75%)
October – unit count finalized, balance of State money allocated
Process and timeline
December – prepare final budgetJanuary – final budget reviewed by
FAC, presented to BoardApril-July – amendments to the final
budget may be considered by the FAC and Board
May – cycle starts again
Process and timeline
Monitoring and reporting Finance Director monitors appropriation
balances and expenditure budgets almost daily
Payroll staff monitor reports after each payroll disbursement
Finance staff review reports weekly/monthly as applicable
Monthly reporting to FAC, Board, public
Process and timeline
Balanced budget (total revenue budget = total expenditure budget)
Build and maintain our reservePreliminary budget conservatively
forecasts revenues in a lean year like FY2010
Budgeting Principles
Federal – additional $1.8 million in ARRA (“Stimulus”) one-time special education funds – spending plan being developed openly with a committee of parents, Board, district and school staff
Federal – also receiving smaller amounts of ARRA funds for nutrition equipment and homeless student support
Major changes from FY2009
ARRA Stabilization funds are filling State cuts in Student Success, Technology, ELL, Reading Resource, Math Specialists, Tax Relief, Academic Excellence Allotment (~$1.5M total)
Preliminary budget shows these funds as State – will likely show as Federal in the final budget
Major changes from FY2009
The ARRA Stabilization funds should also be available to backfill the zeroed-out State appropriations for FYs 2010 and 2011, but not after that
State salaries – 2.5% cut on State side – Appoquinimink’s “furlough” plan has not been finalized
Major changes from FY2009
Local –$500K from reserve to balance the budget (to cover contractual local raises)
IBU16 (Instructional Materials) cut 17% then split between school budgets and the district textbook fund
Building Use/Rentals revenue is now a line in the detailed revenue budget
Major changes from FY2009
Major capitalAll Year Three funding is in the Bond
Bill (less $273,966)“Escheat” funded construction from
FY2009 – never received in FY09 but it was added to FY2010 bond bill
Major changes from FY2009
Major Capital Bond FundingProject State Local TotalRenov/Add MHS 3,942,900 1,548,400 5,401,300
Renov CLE 9,371,400 3,466,134 12,837,534
Renov RMS 555,500 205,500 761,000
Renov MMS 40,300 14,900 55,200
BME Serving Line 56,700 21,000 77,700
Renov SLE 260,600 96,400 357,000
TOTALS 14,227,400 5,262,334 19,489,734
FY2010 Prelim Revenue BudgetState Funds (Div I/II/III/Other) 65,789,148
Local Funds Current Operations Tuition Minor Cap/Tax Match Debt Service Other Local
13,654,4115,285,0001,226,7405,960,0002,247,812
Federal Funds 3,926,457
Construction (State + Local) 19,489,734Debt Service State Share 6,049,446
Minor Cap State Share 472,716
TOTAL 124,101,464
FY2010 Prelim Revenue Budget
70%27%
3%
STATE86.5M
FEDERAL3.9M
LOCAL33.6M
TOTAL124.1M
Was 3%, 26%, 72% in FY09
FY2010 Prelim Expenditure BudgetOperating Budget 36,416,629Division I 45,518,706
Tuition In-State Tuition/Private Placement ILC, DFP, DFP PreK, Needs-Based
1,600,0003,685,000
Federal Funds 3,926,457Major Capital Improvements Debt Service Construction
12,009,44619,489,734
Minor Capital/Match Extra Time Local Minor Capital Improvements Technology Local
413,000787,860254,632
TOTAL 124,101,464
FY2010 Preliminary Budget
This preliminary budget was reviewed and endorsed by the Financial Review Committee on July 7, 2009
Questions?Approval