North Mac CUSD #34

2012-2013 Budget

Presented to the Board of Education

August 22, 2012

North Mac uses Cash Basis Accounting: Revenues and expenditures are recognized at the time cash is received or disbursed.

Beginning fund balances as of 7/1/2012 have been finalized by the district auditors.

Budget 2012-2013Informational Notes

Public School Budgets are estimates of revenues and expenditures. Contract negotiations, once resumed, will

impact expenditures State revenue delays will affect cash flow

and budget revenue streams Changes in personnel or student needs will

impact expenditures

Budget 2012-2013Informational Notes

The decrease in general state aid of $636,000 reflected in the budget is due to the 10.84% proration of GSA by the legislature’s budget

The state currently owes the district $224,560 from FY12 for the following:

Transportation - $111,769 Special Education - $106,352 Other - $6,439

Budget 2012-2013Informational Notes

FY13 budget reflects an increase in EAV of approximately 1%

FY13 budget contains corporate personal property replacement tax dollars in the Education ($144,035) and IMRF funds ($4,800)

Budget 2012-2013Local Revenue

Federal revenues are projected at $1,053,763 from various programs including Title I Title II I.D.E.A.(Special Education) Medicaid

Budget 2012-2013Informational Notes

The Education, Operations & Maintenance, Bond & Interest, Transportation and Municipal Retirement/Social Security Funds are expected to have deficit spending

The goal will be to reduce spending where possible and to seek additional funding sources such as grants, when available

District health insurance rates for renewal are not yet available

Budget 2012-2013Informational Notes

State Defined “Operating” Funds Education Fund Operations & Maintenance Transportation Fund Working Cash Fund

These funds are used in the formula to determine the financial profile of a school district

Budget Summary Detail“Operating” Funds

Revenues

Local Sources: Tax Revenues from Levy Corporate Personal Property Replacement Tax Food Service Revenues (Breakfast/Lunch Sales) Textbook Rental/School Fees Interest

State Sources: General State Aid Grant Revenues Categoricals (Special Ed/Transportation)

Federal Sources: Title Funding Medicaid I.D.E.A. (Special Education) Grant Revenues

Revenue Sources

Revenue SourcesOperating Funds

Local $6,236,302 43%

State $7,370,762 50%

Federal $1,053,763 7%

Total $14,660,827 100%

Revenue Sources

Local43%

State50%

Federal7%

Revenue SourcesOperating Funds

FY 2011 FY 2012 FY 2013% Change FY12

to FY13

Local $6,566,804 $ 5,768,188 $6,236,302 +8%

State $ 8,209,590 $ 7,693,0682 $ 7,370,762 -4%

Federal $ 1,655082 $ 1,036,456 $1,053,763 +1.6%

$ 16,431,476 $ 14,497,712 $ 14,660,827 +1.1%

Expenditures

ISBE classifies expenditures using the following categories: Salaries Benefits Purchased Services Supplies Capital Outlay Other (Includes Dues/Fees, Tuition and Debt

Principal/Interest)

ExpendituresOverview

Education Fund Expenditures

Salaries $6,229,869

Benefits $1,637,223

Purch Serv $300,957

Supplies $799,665

Cap Outlay $96,200

Other/Tuition $2,696,492

TOTAL $11,760,374

Salaries52%

Benefits14%

Purch Serv3%

Supplies7%

Outlay1%

Tuition23%

Operations & MaintenanceExpenditures

Salaries $496,769

Benefits $114,020

Purch Serv $286,900

Supplies $426,350

Cap Outlay $3,000

Other/Tuition $0

TOTAL $1,327,039

Salaries37%

Benefits9%

Purch Serv22%

Supplies32%

Cap Outlay0%

Other/Tuition0%

TransportationExpenditures

Salaries $526,450

Benefits $77,940

Purch Serv $66,341

Supplies $157,000

Cap Outlay $126,907

Other/Tuition $100

TOTAL $954,738

Salaries56%

Benefits8%

Purch Serv7%

Supplies16%

Cap Outlay13%

Other/Tuition0%

Education Fund

Budgeted Revenues $11,313,463Budgeted Expenditures ($11,760,406)

Surplus/(Deficit) ($446,943)

Audit Fund Balance 7/1/12 $274, 965Projected Fund Balance 6/30/13 ($171,978)

Budget Summary Detail“Operating” Funds - Education

O&M Fund

Budgeted Revenues $1,319,904Budgeted Expenditures ($1,327,039)

Surplus/(Deficit) ($7,135)

Audit Fund Balance 7/1/12 $89,214Projected Fund Balance 6/30/13 $82,079

Budget Summary Detail“Operating” Funds - Operations & Maintenance

Transportation Fund

Budgeted Revenues $660,377Budgeted Expenditures ($954,738)

Surplus/(Deficit) ($294,361)

Audit Fund Balance 7/1/12 ($118,140)Projected Fund Balance 6/30/13 ($412,501)

Budget Summary Detail“Operating” Funds - Transportation

Working Cash Fund

Budgeted Revenues $55,635Budgeted Expenditures (0)

Surplus/(Deficit) $55,635

Audit Fund Balance 7/1/12 $759,121Projected Fund Balance 6/30/13 $814,757

Budget Summary Detail“Operating” Funds - Working Cash

Revenues $ 13,349,379

Expenditures $ (14,042,183)

Surplus/(Deficit) $ (692,804)

Budget Summary DetailTotal “Operating” Funds

Bond & Interest Fund

Budgeted Revenues $760,611Budgeted Expenditures ($787,623)

Surplus/(Deficit) ($27,012)

Audit Fund Balance 7/1/12 $81,132Projected Fund Balance 6/30/13 $54,120

Budget Summary DetailOther Funds - Bond & Interest

IMRF/Social Security Fund

Budgeted Revenues $167,429

Budgeted Expenditures ($413,383)

Surplus/(Deficit) ($245,954)

Audit Fund Balance 7/1/12 $ 41,115

Projected Ending Fund Balance 6/30/13 ($204,838)

Budget Summary DetailOther Funds – IMRF/Social Security Fund

Life Safety Fund

Budgeted Revenues $55,235Budgeted Expenditures ($0)

Surplus/(Deficit) ($55,235)

Audit Fund Balance 7/1/12 $179,821Projected Fund Balance 6/30/13 $235,056

Budget Summary DetailOther Funds - Life Safety Fund

Tort Fund

Budgeted Revenues $328,173Budgeted Expenditures ($203,228)

Surplus/(Deficit) $124,945

Audit Fund Balance 7/1/12 $ 61,243Projected Fund Balance 6/30/13 $186,189

Budget Summary DetailOther Funds – Tort

Budget Summary

Revenues Expenditures Surplus/(Deficit) 7/1/12 balance 6/30/13 balance

Education $ 11,313,463 $ 11,760,406 $ (446,943) $ 274,965 $ (171,978)

Operations & Maintenance $ 1,319,904 $ 1,327,039 $ (7,135) $ 89,214 $ 82,079

Bond & Interest $ 760,611 $ 787,623 $ (27,012) $ 81,132 $ 54,120

Transportation $ 660,377 $ 954,738 $ (294,361) $ (118,139) $ (412,501)

Municipal Retirement / Soc Security $ 167,429 $ 413,383 $ (245,954) $ 41,115 $ (204,838)

Capital Projects $ - $ - $ - $ - $ -

Working Cash $ 55,635 $ - $ 55,635 $ 759,121 $ 814,757

Tort $ 328,173 $ 203,228 $ 124,945 $ 61,243 $ 186,189

Fire Prevention & Safety $ 55,235 $ 0 $ 55,235 $ 179,821 $ 235,056

Total $ 14,660,827 $ 15,446,417 $ (785,590) $ 1,368,474 $ 582,884