Illini Central Community Unit School District # Budget (FY ’09) Presented to the Board of Education August 21, 2008

Budget Informational Notes Changes to the Illinois Program Accounting Manual (IPAM) Changes to the Illinois Program Accounting Manual (IPAM) –The biggest change was the change of the 80 Fund from RENT to TORT. Tort monies, which are generated through local revenue, have traditionally been spread out between the Education Fund, Operation and Maintenance Fund, and Transportation Fund.

Budget Informational Notes Illini Central uses Cash Basis Accounting: Revenues and expenditures are recognized at the time cash is received or disbursed. Illini Central uses Cash Basis Accounting: Revenues and expenditures are recognized at the time cash is received or disbursed. Beginning fund balances shown (7/1/08) are tentative at this time as the audit has not been finalized and adjusting entries have not yet been posted. Beginning fund balances shown (7/1/08) are tentative at this time as the audit has not been finalized and adjusting entries have not yet been posted.

Budget Informational Notes Public School Budgets are estimates of revenues and expenditures. With much uncertainty with regard to funding from Springfield, this budget was prepared using conservative estimates: Public School Budgets are estimates of revenues and expenditures. With much uncertainty with regard to funding from Springfield, this budget was prepared using conservative estimates: –Revenues are budgeted using low estimates –Expenditures are budgeted using high estimates

Budget Informational Notes The small increase in state funding that is reflected in the budget is due to the increase in the foundation level from $5,734 to $5,959 (+ $225). The small increase in state funding that is reflected in the budget is due to the increase in the foundation level from $5,734 to $5,959 (+ $225). All funds are estimated to have a positive fund balance at the end of FY ’09. All funds are estimated to have a positive fund balance at the end of FY ’09.

Budget Informational Notes The deficit spending in the Operation and Maintenance fund are a result of the renovation projects approved for West Campus during the past fiscal year. The deficit spending in the Operation and Maintenance fund are a result of the renovation projects approved for West Campus during the past fiscal year. Similarly there is an estimated account balance in the Fire Prevention and Safety account for FY ‘09 as anticipated project costs were under the $4.0 million bond issuance. Similarly there is an estimated account balance in the Fire Prevention and Safety account for FY ‘09 as anticipated project costs were under the $4.0 million bond issuance.

Budget Informational Notes The FY ‘09 budget depicts a positive budget with total ending revenues in all funds exceeding total expenditures in all funds. The FY ‘09 budget depicts a positive budget with total ending revenues in all funds exceeding total expenditures in all funds. The goal will be to project future revenues and expenditures and reduce spending where possible seeking additional revenue streams where available. The goal will be to project future revenues and expenditures and reduce spending where possible seeking additional revenue streams where available.

Budget Summary Detail “Operating” Funds State Defined “Operating” Funds State Defined “Operating” Funds –Education Fund –Operations & Maintenance –Transportation Fund –Working Cash Fund These funds are used in the formula to determine the financial profile of a school district

Revenues

Revenue Sources Local Sources: Tax Revenues from Levy Tax Revenues from Levy Corporate Personal Property Replacement Tax Corporate Personal Property Replacement Tax Food Service Revenues (Breakfast/Lunch Sales) Food Service Revenues (Breakfast/Lunch Sales) Textbook Rental Textbook Rental Interest Interest State Sources: General State Aid General State Aid Grant Revenues Grant Revenues Sub-Categoricals (Special Ed/Transportation Reimbursements) Sub-Categoricals (Special Ed/Transportation Reimbursements) Federal Sources: Title Funding Title Funding Medicaid Medicaid I.D.E.A. I.D.E.A. Grant Revenues Grant Revenues

Revenue Sources Operating Funds Local $3,327, % State $4,263, % Fed. $619, % Total $8,210, % Operating Fund Revenues

Expenditures

Expenditures Overview ISBE classifies expenditures using the following categories: ISBE classifies expenditures using the following categories: Salaries Salaries Employee Benefits Employee Benefits Purchased Services Purchased Services Supplies and Materials Supplies and Materials Capital Outlay Capital Outlay Other Objects (Includes Tuition, etc.) Other Objects (Includes Tuition, etc.) Non-Capitalized Equipment Non-Capitalized Equipment Termination Benefits Termination Benefits

Education Fund Expenditures Salaries $ 4,639,520 70% Benefits $ 813,498 11% Purch Serv $ 495,400 8% Supplies $ 337,231 5% Cap Outlay $ 99,600 2% Other $ 275,200 4% Total $ 6,660, %

Operations & Maintenance Salaries $ 227,500 23% Benefits $ 19,850 2% Purchase Services $ 460,950* 47% Supplies $ 238,250** 24% Cap Outlay $ 34,500 3% Other $ 10,200 1% Total $ 991, % *Includes Telephone & Water/Sewer Service **Includes Gas/Electric Service

Budget Summary Detail “Operating” Funds - Education Fund Education Fund Education Fund Budgeted Revenues $ 6,787,287 Budgeted Revenues $ 6,787,287 Budgeted Expenditures ($ 6,660,449) Surplus/(Deficit) $ 126,838 Estimated Fund Balance 7/1/08 $ 1,490,489 Projected Ending Fund Balance 6/30/09 $ 1,617,327* *This balance represents restricted use funds *This balance represents restricted use funds

Budget Summary Detail “Operating” Funds - Operations & Maint Fund O&M Fund Budgeted Revenues $ 623,875 Budgeted Expenditures ($ 991,250) Surplus/(Deficit) ($ 367,375) Estimated Fund Balance 7/1/08 $ 482,784 Projected Ending Fund Balance 6/30/09 $115,409* *This balance represents restricted use funds earmarked for facility *This balance represents restricted use funds earmarked for facility

Budget Summary Detail “Operating” Funds - Transportation Fund Transportation Fund Budgeted Revenues$ 749,382 Budgeted Revenues$ 749,382 Budgeted Expenditures ($ 621,100) Surplus/(Deficit) $ 128,282 Estimated Fund Balance 7/1/08 $ 773,566 Projected Ending Fund Balance 6/30/09 $901,848

Budget Summary Detail “Operating” Funds - Working Cash Fund Working Cash Fund Budgeted Revenues $ 49,800 Budgeted Expenditures ($ 0) Surplus/(Deficit) $ 49,800 Estimated Fund Balance 7/1/08 $ 546,219 Projected Ending Fund Balance 6/30/09 $596,019

Budget Summary Detail Total “Operating” Funds Revenues $ 8,210,344 Revenues $ 8,210,344 Expenditures ($ 8,272,799) Expenditures ($ 8,272,799) Surplus/(Deficit ($ 62,455)* Surplus/(Deficit ($ 62,455)* *The District budgets conservatively … Revenues are budgeted on the “low” side and expenditures are budgeted at “worse case”. *The District budgets conservatively … Revenues are budgeted on the “low” side and expenditures are budgeted at “worse case”.

Budget Summary Detail Other Funds – Debt Services (Bond and Interest) Debt Services Fund Budgeted Revenues $ 129,150 Budgeted Expenditures ($ 128,000) Surplus/(Deficit) $ 1,150 Estimated Fund Balance 7/1/08 $ 29,560 Projected Ending Fund Balance 6/30/09 $30,710

Budget Summary Detail Other Funds – IMRF/Social Security Fund IMRF/Social Security Fund Budgeted Revenues $ 261,775 Budgeted Expenditures ($ 238,525) Surplus/(Deficit) $ 23,250 Estimated Fund Balance 7/1/08 $ 363,927 Projected Ending Fund Balance 6/30/09 $387,177

Budget Summary Detail Other Funds – Tort Fund Tort Fund Budgeted Revenues $ 124,500 Budgeted Expenditures ($ 106,500) Surplus/(Deficit) $ 18,000 Estimated Fund Balance 7/1/08 $ 0* Projected Ending Fund Balance 6/30/09 $18,000 *Tort has previously been split between Education, Operation and Maintenance, and Transportation. At this time fund balances remain in those accounts and should until legislation dictates otherwise.

Budget Summary Detail Other Funds - Life Safety Fund Life Safety Fund Budgeted Revenues $ 34,800 Budgeted Expenditures ($ 3,240,000) Surplus/(Deficit) ($ 3,205,200) Estimated Fund Balance 7/1/08 $ 3,601,571 Projected Ending Fund Balance 6/30/09 $396,371