FY 2015-2016 General Fund Budget Update February 16, 2016 11/21/2018 FY 2015-2016 General Fund Budget Update February 16, 2016 11/21/2018

FY 2015-2016 Summary of Revenue, Expense, and Fund Balance Exeter Township School District General Fund Budget 2015-2016 FINAL BUDGET 2015-2016 ESTIMATE   Real Estate Property Tax Rate 31.2500 CHANGE Total Revenue $ 68,253,697 $ 68,306,106 $ 52,409 Total Expenditures $ 69,761,759 $ 69,067,291 $ (694,468) Revenue less Expense $ (1,508,062) $ (761,185) $ (746,877) Fund Balance Components : Commitments $ 2,904,460 $ 2,904,460 Net Assignments $ 6,624,300 $ 6,474,300 Unassigned $ 5,415,997 $ 6,848,874 $ 14,944,757 $ 16,227,634 Unassigned Fund Balance as % of Total Expense 7.8% 9.9% 11/21/2018

Current Year Revenue Sources FY 2015-16 EXETER TOWNSHIP SCHOOL DISTRICT - GENERAL FUND REVENUE   FY 13-14 FY 14-15 FY 15-16 Change in Budget Estimate Actual Final Adopted Budget Estimate FY 2015-2016 Local Sources $ 46,757,010 $ 47,822,922 $ 47,618,363 $ 47,645,947 $ 27,584 State Sources $ 17,635,627 $ 18,779,555 $ 19,965,960 $ 19,992,107 $ 26,148 Federal Sources $ 452,838 $ 617,434 $ 646,874 $ 646,551 $ (323) Other Sources $ 327,646 $ 22,500 $ 21,500 $ (1,000) Total Revenue $ 65,173,121 $ 67,242,411 $ 68,253,697 $ 68,306,106 $ 52,409 % Change 2.99% 3.2% 1.5% 1.6% 0.08%

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FY 15.16 Basic Education, Special Education, and RTL State Source 12.13 Actual 13.14 Actual 14.15 Actual 15.16 Board Adopted Agreed upon Budget Framework 11.17.15 12.15.15 Presentation of Allocation "Blue-lined Budget Amount"   Basic Education Funding 7,884,597 8,143,032 $ 8,143,047 $ 8,294,488 $ 8,639,113 $ 8,577,551 $ 8,290,664 Special Education Funding 1,775,958 1,852,400 $ 1,834,206 $ 1,905,489 $ 1,976,773 $ 1,975,318 $ 1,917,309 Ready to Learn (ABG) 180,893 $ 415,445 $ 415,445 $ 471,252 11/21/2018

Basic Education Funding NOTE: the formula used to distribute the temporary relief will likely NOT be the formula used to distribute the rest of the money. The most likely increase for FY 15-16 will be based on the $100 million increase for Education funding that was part of the “blue-lined” budget. (Governor’s proposed $377 million increase would provide an additional $231,000 in BEF) Until there is legislative action, no additional BEF will flow to the district. Estimated BEF outstanding: $4.7 million What ultimately gets decided for 15-16 sets the base onto which the 16-17 funds get added.

Special Education Funding $30 million increase in 15.16 distributed through the new special education funding formula. (Governor proposed $20 million more, or $60k more in SEF). 11/21/2018

PlanCon For 2015-16 there is total confusion. The Plan… The Problem… $2.5 billion borrowing done through the Commonwealth Financing Authority. Pays for current, in-progress, and new PlanCon projects. Zero-out line item for 2015-16; districts paid for 15-16 with bond proceeds. The Problem… Zero dollars appropriated for 2015-16 Borrowing legislation is not approved; Administration now says borrowing is too costly. No money to pay 15-16 obligations. Funding PlanCon will require a tax increase. Be prepared to not get 15-16 dollars in 15-16. ETSD Subsidy for 15-16: $1,413,179

Social Security 2015-16 2 month lag (10 months) of payments to districts. Saves state $84 million. May and June payments will be received in July and August.

FY 2015-2016 General Fund Expenses 13-14 14-15 15-16 Major Object / Description Actual Final Budget 6/16/2015 Estimate 2.16.16 Estimate to Original Budget 100 - Employee Wages $28,708,572 $28,908,546 $29,905,482 $29,696,255 -$209,227 200 - Employee Benefits $14,609,983 $15,988,740 $18,209,577 $17,939,354 -$270,223 300 - Professional & Technical Serv. $1,989,077 $2,319,953 $2,241,398 $2,182,908 -$58,490 400 - Purchased Property Services $1,406,518 $1,567,720 $1,737,526 $1,721,929 -$15,597 500 - Other Purchased Services $5,118,380 $4,945,157 $5,024,934 $5,082,541 $57,607 600 - Supplies, Books, Heat/AC, Fuel $2,097,250 $1,983,075 $2,227,232 $2,136,540 -$90,692 700 - Property $879,910 $950,338 $635,717 $632,106 -$3,611 800 - Dues, Interest, Claims $3,999,025 $5,001,684 $5,047,943 $5,034,702 -$13,241 900 - Principal Payment, Fund Transfers, Reserve $5,135,984 $4,201,916 $4,094,747 $3,997,953 -$96,794 Total Expenditures Excluding Major Maint & Improv. $63,944,698 $65,867,130 $69,124,556 $68,424,288 -$700,268   750/760 - Major Improvements $734,232 $666,578 $637,203 $643,003 $5,800 Total General Fund Expenditures $64,678,930 $ 66,533,709 $69,761,759 $69,067,291 -$694,468 11/21/2018

Expense Object 100 – Salary/Wage Estimate of 15.16 Wages: $29.7 million or $209,000 less than budgeted. Teacher Leaves – long-term sub costs less than budgeted salary of teacher Teacher Resignations – replacement teacher costs less than teacher with several years of experience Long-Term Substitute positions –temporarily filling positions with LTS’s at reduced salary. Teacher Column Movement – less than budgeted. New Budget Position not yet filled – ex. Technology coach Per Diem substitute costs trending lower than budget. Support Staff Vacancies – custodians, aides, bus drivers. 11/21/2018

Expense Object 200 - Benefits Estimate of 15.16 Benefits: $17.9 million or $270,000 less than budgeted. Group Health Insurance – Unfilled positions, waive benefits ($57k) Soc. Security & Retirement – driven by reduction in wages. ($134k) Retirement Pay – based on current year retirements. ($100k) 11/21/2018

- 322 SERVICES FROM INTERMEDIATE UNIT ($171,826) EXPENSE OBJECTS: 300 – Professional & Technical Services 500 – Other Purchased Services - 322 SERVICES FROM INTERMEDIATE UNIT ($171,826) STUDENT PLACEMENT PRIVATE TUITION COST vs IU PROVIDED SERVICE - 339 MISC LEGAL SVC $109,575 SPECIAL EDUCATION SETTLEMENT AGREEMENTS – LEGAL COSTS - 562 CHARTER SCHOOL TUITION ($88,191) - 563 PRIVATE TUITION $220,369 PRIVATE PLACEMENT vs IU PROVIDED SERVICE; HIGHER PRIVATE PLACEMENT COSTS - 500 OTHER PURCHASED SERVICES ($98,744) 11/21/2018

- 621-626 – ELECTRIC, NATURAL GAS, GASOLINE ($60,049) EXPENSE OBJECTS: 600 - UTILITIES, SUPPLIES, BOOKS SOFTWARE 900 – BUDGET RESERVE - 621-626 – ELECTRIC, NATURAL GAS, GASOLINE ($60,049) - 610, 618, 641-642 – SUPPLIES, TEXTBOOKS, SOFTWARE ($54,500) - 990 BUDGET RESERVE ($97,000) 11/21/2018

FY 2015-2016 Summary of Revenue, Expense, and Fund Balance Exeter Township School District General Fund Budget 2015-2016 FINAL BUDGET 2015-2016 ESTIMATE   Real Estate Property Tax Rate 31.2500 CHANGE Total Revenue $ 68,253,697 $ 68,306,106 $ 52,409 Total Expenditures $ 69,761,759 $ 69,067,291 $ (694,468) Revenue less Expense $ (1,508,062) $ (761,185) $ (746,877) Fund Balance Components : Commitments $ 2,904,460 $ 2,904,460 Net Assignments $ 6,624,300 $ 6,474,300 Unassigned $ 5,415,997 $ 6,848,874 $ 14,944,757 $ 16,227,634 Unassigned Fund Balance as % of Total Expense 7.8% 9.9% 11/21/2018

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