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FY2011 Preliminary Budget Appoquinimink School District July 13, 2010 Presentation. ASD FY2011 Preliminary Budget. What we will cover Process and timeline Principles Major changes from FY2010 The budget. Process and timeline. Start with FY2010 Final Budget - PowerPoint PPT Presentation
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FY2011 Preliminary BudgetAppoquinimink School District
July 13, 2010 Presentation
What we will coverProcess and timelinePrinciplesMajor changes from FY2010The budget
ASD FY2011 Preliminary Budget
Start with FY2010 Final BudgetMay/June – forecast final FY2010
revenues/expendituresMay/June – meet with schools and
departments to discuss FY2011 needs
Process and timeline
May/June – make Superintendent and Financial Advisory Committee aware of potential major budget issues
June – forecast FY2011 revenues based on FY2010 and draft State budget
June/July – set tax rates
Process and timeline
July – adjust based on final State budget and FY2010 ASD figures
July – preliminary budget reviewed by Financial Advisory Committee (FAC)
July – preliminary budget presented to the Board for approval
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 budgetBuild and maintain our reservePreliminary budget conservatively
forecasts revenues in a lean year like FY2011
Budgeting Principles
Federal – in FY2010 we received $2.7 million in ARRA (“Stimulus”) SFSF (State Fiscal Stabilization Fund) that backfilled several unfunded/underfunded State appropriations: Student Success Block Grant Technology Block Grant Tax Relief Academic Excellence Allotment Limited English Proficiency Division I, II, III (underfunded)
Major changes from FY2010
Federal – in FY2011 we will only receive $1.3 million to replace what was funded by the $2.7 million SFSF. In response, we had to reduce support for Technology Block Grant Limited English Proficiency
… and absorb locally … Academic Excellence Allotment (substitutes) Student Success Block Grant (interventionists)
Major changes from FY2010
The State also cut support for math and reading specialists. Appoquinimink will keep them, funding them locally.
Local tax receipts will increase due to increased total assessed value of taxable property. However, we still project that we have to draw on reserves to cover the budget.
Major changes from FY2010
FY2011 Preliminary Revenue BudgetState Funds (Div I/II/III/Other) 67,698,230
Local Funds Current Operations Tuition Minor Cap/Tax Match Debt Service Other Local
14,631,7754,433,1641,252,9676,330,6692,280,000
Federal Funds 3,762,647
Construction (State + Local) 38,519,900Debt Service State Share 6,691,937
Minor Cap State Share 472,229
TOTAL 146,073,518
FY2011 Preliminary Revenue Budget
Revenue Budget by Major Sourcewithout Major Cap, Debt Service - outer ring FY2011, inner is FY2010
68.2%
23.9%
72.2%
3.9%
24.5%7.4%
Local
State
Federal
FY2011 Preliminary Expenditure BudgetOperating Budget 87,007,673Debt Service 13,008,613
Tuition In-State Tuition/Private Placement ILC, DFP, DFP PreK, Needs-Based
1,500,0003,550,000
Match Tax Funds 997,656Major/Minor Capital Improvements Major Capital Projects Minor Capital
38,519,900788,353
Cafeteria 2,850,000
TOTAL 148,222,195
FY2011 Preliminary Budget
This preliminary budget was reviewed and endorsed by the Financial Advisory Committee on July 6, 2010.
Questions?Approval