Middle Bucks Institute of Technology February 8, 2016 2016/2017 General Fund Budget Middle Bucks Institute of Technology February 8, 2016

Update November 9, 2015 first look at budget-to-budget increase: General Fund & Lease Rental $387,994 or 3.71% Unknowns: Health insurance Retirement Insurance State subsidies Federal grant Goal to be at or under Act 1 index – 2.4%

General fund & Lease Rental budget-to-budget 2016/17 2015/16 $ Change % Change General Fund $9,300,294 $8,982,933 $317,361 3.53% Authority Lease $1,460,021 $1,472,466 -$12,445 -0.85% Total Expenditures $10,760,315 $10,455,399 $304,916 2.92%

Assumptions: Teachers’ salaries per MBEA Contract Administrative salaries per Act 93 Agreement All other Salaries and Wages – 2% increase on 2015/2016 pay rates Health Insurance – 1st look out of 3 - IBC rates – 5.7% Medical & -9.9% Rx Retirement – PSERS certified employer rate 30.03% Purchased property services – increase for cleaning services, equipment maintenance in programs, and facilities. Use of Committed Fund Balance Use of funds held by BMCSHCC

Summary of budget-to-budget change: Description $ Change % Change Teacher’s salaries – net $65,733 0.73% Admin & support staff salaries & wages - net 16,821 0.19% Retirement 216,100 2.41% Health insurance 27,525 0.31% Contractual & other statutory benefits 22,314 0.25% Purchased property services 39,843 0.44% All other net -70,975 -0.79% Total General Fund $317,361 3.53% Lease rental -12,444 -0.85% Total budget-to-budget $304,917 2.92%

Receipts from Member Districts 2016/17 2015/16 $ Change % Change General Fund $7,498,934 $7,282,183 $216,751 2.98% Authority Lease Rental $1,460,022 $1,472,466 -$12,444 -0.85% Total Contribution $8,958,956 $8,754,649 $204,307 2.33%

Local, state & federal revenue + Other Local Revenue - $82,300 vs. $78,550 State Subsidies – increase Voc Ed and Retirement Subsidies Total state $1,288,060 vs. $1,157,200 Federal funding – increase from Carl D. Perkins Grant Total Federal $281,000 vs. $265,000 + Committed fund balance & BMCSHCC $150,000

Other budgets Capital Reserve Fund Funded at discretion of Executive Council using unspent current year budget. Proposed $100,000 Funds used for acquisition of program equipment, capital repairs and maintenance to facilities Digital road sign – carryover $30,000 Plumbing 15,000 Campus lighting 12,500 Roof repairs 100,000 Concrete repairs 35,000 Equipment & grant matching funds 50,000

Other Budgets Adult Education $152,778 vs. $157,520 Fall & Spring Adult Evening Programs Customized Industry Training Emission Recertification Production Fund $269,800 vs. $256,620 Live work by students: Aspirations, Salon Extreme, the student- built modular house Student workbooks, Cosmetology kits & field trips Summer Career Exploration Program

Other budgets Proprietary Fund $209,240 vs. $204,000 Fiduciary Li’l Bucks Preschool Educational programs for Toddlers & Preschool Children Fiduciary Student Activities Fund Skills USA Future Health Professionals - HOSA Future Farmers of American - FFA Pennsylvania Builders Association - PBA

Questions? Next step: Final revisions Board action – March 14, 2016