Budget Overview Jackson Zimmermann Executive Director – Fiscal Services

Your Budget Book Section C Operational Expenses Section D Self-Sustaining Expenses Section E Budget Data Analysis Section F Supporting Documents Section B Revenue Analysis Section A Overview 2

Revenue Sources (in Millions) Total Revenues: $153,972,043 3

Revenues FY School Board’s Adopted FY Superintendent’s Requested$ Change% Change Local-Schools $1,592,574$2,052,531 $459, % State $42,950,045$43,319,323 $369, % Federal $2,935,218 $00.00% Local Transfers $100,106,298 $102,618,995$2,512, % Use of Fund Balance $2,790,771$2,170,976 ($619,795)-22.21% CIP and Other Transfers$875,000 $00.00% Totals$151,249,906$153,972,043 $2,722, % 4

Use of Fund Balance Current Fund Balance (Unaudited) $7,932,654 Budgeted in FY $2,790,771 Anticipated Transfer to CIP (FY 12/13) $2,300,000 Proposed Use in FY $2,170,976 Projected Available Fund Balance FY $670,907 Fund Balance Percentage of FY (As a % of Current Anticipated Revenues) 0.44% 5

Where do we Invest Our Resources

Superintendent's 2013/2014 Proposed Budget By Type of Expense Total Expenses: $155,444,689 7

Drivers of the Superintendent’s Funding Request Student Enrollment Free/Reduced Lunch Students Maintenance of Effort Market Competitiveness

Student Enrollment Enrollment is projected to increase by 6.52% (846 students) over the next 5 years.

Free/Reduced Lunch Student Trends Free/Reduced trends are based upon a three year weighted average to temper major fluctuations

Maintenance of Effort (Page A-19) $3,198,210

World at Work estimates a 2.5% compensation increase. Based upon staff recommendations, the Joint Boards adopted a 1% – 2% market adjustment. Classified  2% pay for performance increase  Address position discrepancies identified as below defined market Teacher  Meet competitive market with scale  Maintain anchor point on scale at 0, 10, 20 and 30 years of experience  Meet requirements for one-time state funding Compensation: Market Recommendations

Compensation: Teacher Increases

Each full-time participating employee will receive: Health Insurance Contribution $6,745$7,217 Dental Insurance Contribution $301$322 Health Benefits Summary

County Portion of Health Costs over Six Years

5% Employee Share VRS Rates Over Time

Changes in Budgeting Practices Lapse Account Realigning Budgets

Budget to Budget Current Staff Retirements Resignations Terminations New Staff Savings Within Budget Year Current Staff Retirements Resignations Terminations Time Between Hires Savings Due to Time Savings Due Change in Experience Levels Compensation Lapse Cycles

Risk Expectations Lapse Balancing Risk and Expectations Through Lapse

Fiscal Year Percent Savings in Salaries and Benefits % % Proposed Lapse Increase ($1.5M Increase) 1.16% Balancing Risk and Expectations Through Lapse

Budgeting Focus: Reduce the variance between actual and budgeted amounts where it made sense. Outcome: The number of departments and schools that had a variance of greater than 20% was reduced by 60% Realigning Budgets

FundActual 12Adopted 13VarianceSups 14Variance W. Albemarle569,607407, %569, % Federal Pgms.925,5071,654, %995, % Accomplished by: Transferring Money from Departments into Schools Budgeting Anticipated Carryover to Schools Budgeted Anticipated Donations Realigning Budgets

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