AGENDA Revenue Assumptions Recent Budget Experience FY14 Budget Discussion Analysis of Fund Balances Risks and Opportunities.

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Presentation transcript:

Fiscal Year 2013-14 Proposed Budget Presented by Chief Financial Officer Charles A. Burbridge

AGENDA Revenue Assumptions Recent Budget Experience FY14 Budget Discussion Analysis of Fund Balances Risks and Opportunities

Revenue Assumptions Comments: Local tax revenues for fiscal year 2012 include $25 million in TAD settlement Other Sources for Fiscal Year 2013 include $15 million in E-rate funding FY 2014 other sources include indirect cost and E-rate funding

General Fund Multi-year Comparison (millions) *

Superintendent Recommendation for Balancing FY 2014 Budget $ Millions Projected Revenues $554.0 Projected Expenditures 602.0 Projected gap in preliminary budget $48.0 Actions that are recommended to reduce gap: Eliminate salary increase ($10.0) Sell AIS property ($6.0) Vacancy Management (2%) ($3.0) HS/MS Staffing & Scheduling ($2.0) Media Paraprofessional ($1.0) Position Elimination ($2.1) Extended Day ($0.9) Bell Schedule Changes Accelerate the Outsourcing of Janitors Use of Fund Balance ($20.0) Remaining Gap $0.0

Analysis of Fund Balance FY09-FY14 (millions)

Risks/Opportunities Risks Opportunities Appropriations Risks Opportunities Appropriations Estimate of students (Traditional v. Charter) Under estimated student count Unexpected cost increases Unexpected program needs Revenue Higher student count Property digest (Over estimated) (Under estimated) Indirect cost (Drawdowns of federal funds do not meet expectations) Belt-line payments E-Rate (funding pending from prior years) Indirect costs (Apply indirect cost against expanded pool of grants)