Estimated Final Budget 12/13Projected Budget 13/14

Estimated Budget Revenues as of May 20, 2013

Local Sources – tax dollars◦ School Pines $9,435.48

State Sources – foundation ($6,966) + one time categoricals

Federal sources ( Title I A; Title II A) Carryover in Federal Funds + Title VI = $81,093

ISDSpecial Education Room + SPED

Reimbursement + Preschool = $219,911

Estimated Budget Revenues as of May 20, 2013 Revenue Detail

Total Expenditures 7,957,429

Excess (Deficiency) of Revenues Over (Under) Expenditures (329,343)

Transfers from Other funds 10,000

Net Change in Fund Balance (319,343)

Beginning of Year Fund Balance 930,170

End of Year Projected Fund Balance 610,827

Estimated Budget Expenditures as of May 20, 2013

Estimated Budget Revenue as of May 20, 2013 $7,628,086

Estimated Budget Expenditures as of May 20, 2013

$7,957,429

Expenditures over Revenue = (329,343) + $10,000 transfer from other funds = (319,343)

MDE updated this amount at the end of last week the allocation is$36,220 less than what is in this budget

-456,500

Revenue Changes from 2012-13 to 2013-14

Projected Student Count – 875 for fall; Declining enrollment of 37 students for lost revenue of $236,430

2013-2014 Foundation used is $7,100 - right now we are being told the foundation will actually be $6,966

Eliminated MPSERS Offset – Lost revenue of $85,849

Eliminated Performance-Based Funding – Lost Revenue of $37,795

Eliminated Best Practices – Lost Revenue of $47,365

Reduction in Federal Consolidated Grant Funds - $36,220

Preschool Savings of $20,000 - $25,000

Expenditures = $7,789,216Expenditures = $7,789,216

Total Expenditures 7,789,216

Excess (Deficiency) of Revenues Over (Under) Expenditures (617,630)

Transfers from Other funds 10,000

Net Change in Fund Balance (607,630)

Beginning of Year Fund Balance 610,827

End of Year Projected Fund Balance 3,197

Projected 2013-2014 Expenditures as of May 20, Projected 2013-2014 Expenditures as of May 20, 20132013

Expenditure Changes from 2012-13 to 2013-14

• Retirement Rate 24.79% (average)

• Includes 7-12 Principal hire budgeted: $120,000

• Replaced two retires with BA Step 1 and Family Insurance

• One teacher not replaced

• Teacher salaries outside the parentheses; step increases; lane changes and + status changes; longevity

• 0% salary/wage increase for all other employees

• Insurance Hard Cap increases

• Difference between 12-13 and 13-14 Expenditures = (168,213)

• Plus the budget has $175,000 in reductions

Take the difference between the projected final budget 2013 revenues and the projected 2014 revenues ($456,500)

Add to it the net change in fund balance or difference between revenues and expenditures for 2013 ($319,343)

The result is the amount of projected fund equity to be spent if we did everything next year the same as this year ---($775,843)

Enrollment History 2005 through 2013

We have less students – In 2004-2005 we had 1160 students. In 2013-2014 we estimate 875 students.

This is a -24.5% change

We have less teachers – In 2004-2005 we had 71 teachers. In 2013-2014 we estimate 56.75 teachers. This is a -20.7% change

We had 142.5 employees in 2004-2005. In 2013-2014 we estimate 106.6.

This is a -25.1% change

Total Revenues in the year ending June 30, 2005 were $8,713,615

Total Expenditures in the year ending June 30, 2005 were 8,554,820

United State Department of Labor – Bureau of Labor Statistics provides this information:

The Foundation Grant for 2006-2007, was$7085 and is comparable to our current foundation of $6966. If we compared this rate with inflation we would find that we would need a foundation grant of $7812

To have the same buying power.The CPI inflation calculator uses the

average CPI for each calendar year .

What difference would this make?

$846 more per student

That would equate to $740,250 dollars.