Meridian CUSD #223

Financial Review FY 05

INTRODUCTION & IMPORTANCEA Financial Understanding of the District’s

Past, Present, and Future

The purpose of this presentation is to give a point in time historical view of various district data.An understanding of this information is critical in addressing district issues about growth and facility needs, establishing tax rates, determining district priorities for the future, and establishing staffing, equipment, and supply needs for the future.

1157

1447 14911799

1895

1569

1222 1233

1275

13091386

1357 1396 14591558

1601 1686

1762

1197119510001100120013001400150016001700180019002000

YearACTUAL ENROLL.

Actual Fall Enrollment: Pre-K - 121986 through 2005 (9/30)

7387

87

84

8897

103

93

126

112

104

123

111

92

115

106

110

94

122

108

129

0

50

100

150

86 88 90 92 94 96 98 '00 '02 '04 '06

Kindergarten Enrollment

t

Actual Kindergarten Enrollment

1986 through 2005

5

Current Grade Kg. Enrollment to Present and % Increase

0

50

100

150

200

12 11 10 9 8 7 6 5 4 3 2 1 Kg

Kg.Enrollment

CurrentEnrollment

5.5

38.445.2

2632.4 69.6 40

31.121.8

26.617.2

13.9

Local (55%)

Federal (2.4%)

State (43%)

2004-05 (FY05) Revenue by SourceLocal, State, and Federal Sources

00.10.20.30.40.50.60.7

Local State Federal

Revenue by Source: FY86 - FY05(Local, State, and Federal)

-500000

0

500000

1000000

1500000

2000000

Local GSA TOTAL

Revenue: Yearly IncreasesFY91 - FY05

2004-05 (FY05) Expenditures by Fund

(by Percentage)

75%

7%6%3% 9%

Education

O. & M.

Transportation

IMRF/Med./SS

Site &ConstructionB. & I.

10

State Average vs. Meridian CUSD #223Operating Expenditure per Pupil

State: $8,786 (+3.58% from previous)Meridian: $6,308 (+1.56% from previous)Meridian FY 05: $6,284 (-.4% from previous)

FY 04 Expenditure per Student(2005 State Report Card)

11

District Contribution to Health Insurance

District Contribution to Ind. Health Insurance

$361$393

$352$313

$284

$279

$247

$225

$246

$199

$181

$168

$145

$101

$85$0

$50$100$150$200$250$300$350$400$450

1991-1992

1992-1993

1993-1994

1994-1995

1995-1996

1996-1997

1997-1998

1998-1999

1999-2000

2000-2001

2001-2002

2002-2003

2003-2004

2004-2005

2005-2006

MonthlyCost

-1000000-500000

0500000

100000015000002000000250000030000003500000

Fiscal Year

Unre

serv

ed F

und

Bala

nce

Ed. O.& M. Trans. W.C. TOTALS:

UNRESERVED Fund BalancesFY86 thru FY05

3.64

4.38

4.48

4.50

4.48

4.41

4.38

4.44

4.51

4.39

4.57

4.54

4.504.48

4.684.72

4.73

4.62

4.72

012345

$$$

per $

100

EAV

'86 '87 '88 '89 '90 '91 '92 '93 '94 '95 '96 '97 '98 '99 '00 '01 '02 '03 '04Calendar Year Payable in next FY

Total Tax Rate

Total Tax RateCalendar Year: 1986 to 2003

14

Meridian CUSD #223FY 05

Financial Profile

15

Revenue vs. Expenditure:Operating Funds (Ed, O & M, Trans., W.C.)

5000000550000060000006500000700000075000008000000850000090000009500000

1000000010500000110000001150000012000000

1998 1999 2000 2001 2002 2003 2004 2005

Revenue

Expenditure

Score: 4

Weight: .35

Value: 1.40

16

Fund Balance to Revenue Ratio:Fiscal Years 1998-2005

Score: 4

Weight: .35

Value: 1.40

0.3470.340.330.42

0.480.54

0.430.4

0

0.1

0.2

0.3

0.4

0.5

0.6

Score: 4

Weight: .35

Value: 1.40

17

Expenditure to Revenue Ratio:Fiscal Years 1998-2005

Score: 3Weight: 35%Weighted Score: 1.05Note: 1.0 – 1.10 = 3

0.96 0.94

1.11.05

1.081.05

0.98 0.961

0.85

0.9

0.95

1

1.05

1.1

1.15

Score: 4

Weight: .35

Value: 1.40

18

Days Cash on HandFiscal Years 1998-2005

Score: 3

Weight: .10

Value: .30

126148

133

83

109116 122

130.75

02040

6080

100120

140160

1998 1999 2000 2001 2002 2003 2004 2005

Score: 3

Weight: .10

Value: .30

19

Short/Long-term Debt

• Percent of short-term borrowing maximum remaining: 100%, score of 4, weighted at 10% for a weighted score of .40

• Percent of long-term debt margin remaining: 38.58% (15% in FY 02, 23% in FY 03, 35% in FY 04); score of 2, weighted at 10% for a score of .20

Note: 50% - 75% results is a score of 3

20

ISBE Financial Profile: Meridian CUSD #223

Over-all ScoreMeridian CUSD #223 FY 05 Score: 3.70

(Financial Recognition) • Categories

– Financial Recognition: 3.54 – 4.00– Financial Review: 3.08 – 3.53– Early Warning: 2.62 – 3.07– Financial Watch: 1.00 – 2.61

21

Summary • Enrollment increase continues• Onyx assessment appeal increased local revenue• Increased certified staff by nearly 5 FTE in FY 05• Expenditures in Education, O & M, Transportation

and Working Cash increased 6.43% from FY 04• Revenues in Education, O & M, Transportation and

Working Cash increased 8% from FY 04• NO early tax money for FY 05