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2011-12 End of Year Report
&2012-13 Tentative Budget
PresentationAugust 21, 2012
Operating Funds:
Adopted
Budget Actual
Education Fund $61,352,117 $64,216,580
Operations & Mtns $ 6,093,865 $ 5,752,940
Transportation $ 2,702,411 $ 3,743,638
IMRF/Social Security $ 2,430,895 $ 2,356,100
Working Cash Fund $ 5,222,000 $ 5,208,766
Total - Operating Funds $77,801,288 $81,278,024
2011-12 Revenues Adopted Budget Compared to Unaudited Actual
Operating Funds:
Amended
Budget Actual
Education Fund $63,224,165 $64,216,580
Operations & Mtns $ 6,093,865 $ 5,752,940
Transportation $ 2,953,129 $ 3,743,638
IMRF/Social Security $ 2,430,895 $ 2,356,100
Working Cash Fund $ 5,222,000 $ 5,208,766
Total - Operating Funds $79,924,054 $81,278,024
2011-12 Revenues Amended Budget Compared to Unaudited Actual
Non-Operating Funds:
Adopted
Budgeted Actual
Capital Projects $ 186,000 $ 223,232
Debt Service $8,092,435 $8,055,058
Tort $ 0 $ 0
Life/Fire/Safety $ 500 $ 93
Total
Non-Operating Funds $8,278,935 $8,278,383
2011-12 Revenues Adopted Budget Compared to Unaudited Actual
Non-Operating Funds:
Amended
Budget Actual
Capital Projects $ 227,663 $ 223,232
Debt Service $8,092,435 $8,055,058
Tort $ 0 $ 0
Life/Fire/Safety $ 500 $ 93
Total
Non-Operating Funds $8,320,598 $8,278,383
2011-12 Revenues Amended Budget Compared to Unaudited Actual
Operating Funds:
Adopted budget= $77,801,288
Amended budget= $79,924,054
Unaudited actual= $81,278,024
Difference between adopted/amended= $2,122,766
Difference between amended/actual= $1,353,970
Difference between adopted/actual= $3,476,736
Comparison—Adopted/Amended Budget to Unaudited Actual Received
Non-Operating Funds:
Adopted budget= $8,278,935
Amended budget= $8,320,598
Unaudited actual= $8,278,383
Difference between adopted/amended=$41,663
Difference between amended/actual=$42,215
Difference between adopted/actual=$552
Comparison—Amended Budget to Unaudited Actual Received
2009 TIF receiptsUnbudgeted prior year property taxesIncreased Corporate Personal Property TaxesIncreased local revenuesSignificantly more state revenue due
conservatively budgeted amounts
Reasons for Increased Revenue
Operating Funds:
Adopted
Budget Actual
Education Fund $57,617,771 $56,616,152
Operations & Mtns $ 6,186,432 $ 5,554,248
Transportation $ 3,201,335 $ 2,858,844
IMRF/Social Security $ 2,029,592 $ 1,991,612
Tort $ 256,184 $ 256,184
Working Cash Fund $ 0 $ 0
Total - Operating Funds $69,291,314 $67,277,040
2011-12 ExpendituresAdopted Budget Compared to Unaudited Actual
Operating Funds:
Amended
Budget Actual
Education Fund $57,964,748 $56,616,152
Operations & Mtns $ 6,186,432 $ 5,554,248
Transportation $ 3,201,335 $ 2,858,844
IMRF/Social Security $ 2,029,592 $ 1,991,612
Tort $ 256,184 $ 256,184
Working Cash Fund $ 0 $ 0
Total - Operating Funds $69,638,291 $67,277,040
2011-12 ExpendituresAmended Budget Compared to Unaudited Actual
Non-Operating Funds:
Adopted
Budget Actual
Capital Projects $ 3,223,988 $ 3,248,880
Debt Service $ 8,239,210 $ 7,518,975
Life/Fire/Safety $ 0 $ 0
Total
Non-Operating Funds $11,463,198 $10,767,855
2011-12 Expenditures Adopted Budget Compared to Unaudited
Actual
Non-Operating Funds:
Amended
Budget Actual
Capital Projects $ 3,223,988 $ 3,248,880
Debt Service $ 8,239,210 $ 7,518,975
Life/Fire/Safety $ 0 $ 0
Total
Non-Operating Funds $11,463,198 $10,767,855
2011-12 Expenditures Amended Budget Compared to Unaudited
Actual
Operating Funds:
Adopted budget= $69,291,314
Amended budget= $69,638,291
Unaudited actual= $67,277,040
Difference between adopted/amended= $ 346,977
Difference between amended/actual= $2,361,251
Difference between adopted/actual= $2,014,274
Comparison—Adopted/Amended Budget to Unaudited Actual Spent
Education fund underspent: Purchased services Supplies, Materials Capital Outlay Dues/Fees Tuition Total: $1,546,449
Operations/Maintenance fund underspent: Purchased services Supplies, Materials Capital Outlay Total: $632,184
Transportation fund underspent: Purchased services Total: $342,491
IMRF/Social Security Fund underspent:Benefits Total: $37,959
Reasons for Under Expenditures
2012-13 Tentative Budget
Operating Funds:
Revenues Expenditures
Education Fund $60,775,596 $59,481,314
Operations & Mtns $ 5,954,423 $ 6,225,096
Transportation $ 3,635,093 $ 3,085,312
IMRF/Social Security $ 2,283,230 $ 2,217,300
Working Cash Fund $ 3,691,584 $ 0
Total - Operating Funds $76,339,926 $71,009,022
2012-13 Proposed Revenues and Expenditures
Non-Operating Funds:
Revenues Expenditures
Capital Projects $ 76,150 $3,496,295
Debt Service $ 7,723,181 $8,274,095
Tort $ 0 $ 0
Life/Fire/Safety $ 150 $ 0
Total
Non-Operating Funds $ 7,799,481 $11,770,390
2012-13 Proposed Revenues and Expenditures
74.88%
17.17%
3.56%
4.39%
TOTAL 2012-13 REVENUES - By Source
LocalState FederalDSEB Borrowing
56.87%
10.21%
9.48%
4.71%
5.09%
0.26%
3.38%
10.00%
2012-13 Total Expenditures-By Object
SalariesBenefitsPurchased ServicesSupplies & MaterialsCapital OutlayDues & FeesTuitionDebt Service
Collection of 55% property taxes in March (prior year extension)
Collection of 45% property taxes in September (actual adopted levy with increased CPI and EAV)
TIF receiptsFlat federal revenueGSA (General State Aid) at 89%PreSchool Grant at 92%All other state revenue at 95% less FY2012 due
2012-13 Revenue Assumptions
Inclusion of all collective bargaining agreements
33% increase in health insurance costsData coaches added/tech integrationists
eliminatedIB/ Common CoreReferendum vision components (foreign
language, music, art, technology, physical education and math)
2012-13 Expenditure Assumptions
Operating fund revenues= $76,339,926Operating fund expenditures= $71,009,022Operating fund expenditures of $71,009,022 compared to
unaudited 2011-12 operating expenditures of $66,843,024. This represents an increase of 6.23%.
The 2012-13 budget (operating and non-operating) demonstrates revenues at $84,139,407 and expenditures at $83,002,488.
Total 2012-13 expenditures = $83,002,488 compared to 2011-12 unaudited $78,540,916 which represents an increase of 5.68%
One final observation…While we ended 2011-12 with over receipted operating revenues
and under expended our operating funds, this should be viewed extremely cautiously given the uncertainty of the pension reform conversations at the state level as well as continued diminishing
state receipts.
Observations
August 21, 2012—adoption of tentative 2012-13 budget
September 11, 2012—public comment on 2012-13 budget and continued discussion by board of education
September 27, 2012Public hearing on 2012-13 budgetAdoption of 2012-13 budget
Submission to Illinois State Board of Education (ISBE)
Next Steps
Questions and Comments