1. Wissahickon School District
Budget Update December 2016 Review of Audited Revenue & Expense Summary for plus Challenges/Opportunities for

2. Decrease in General Fund Balance
Wissahickon School District Budget Update General Fund Revenue & Expenses
DESCRIPTION
Actual Audited Revenue Total
88,605,500 
92,275,916
Actual Audited Expenses Total
99,051,687
92,829,265
(Transferred $12M and $1M to Capital Projects)
Decrease in General Fund Balance
(10,446,187)
(553,349)

3. Wissahickon School District Revenue Summary 2014/15 vs 2015/16
Local Revenue – Overall increase of $2.0M (Real Estate Assessment Value Increase, Tax Increase & EIT)
State Revenue – Overall increase of $1.6M (Primarily for PSERS – (50% of expense) )
Federal Revenue – Overall increase of $33.1K

4. Wissahickon School District Revenue Summary
Local Revenue $74.4 mill 80.7% State Revenue $17.3 mill 18.8% Federal/OthRev. $ 0.5 mill 0.5%

5. Wissahickon School District Budget Update

6. Wissahickon School District 2017-18 Challenges/Opportunities
Real Estate Tax Uncertainty
Revenue: Real Estate Assessment Appeals
Expenses: Public School Employees’ Retirement System (PSERS)
Expenses: Facilities Plans/Supporting Achievement Gap Initiatives
Keeping an eye on Enrollment Projections

7. Wissahickon School District 2017-18 Challenges/Opportunities
Assessment Appeals
On the downslope
Many large properties settled within District reserve amounts
Several very significant properties remain under appeal (for several years)

8. Wissahickon School District 2017-18 Challenges/Opportunities

9. Wissahickon School District 2017-18 Challenges/Opportunities
Expenses
PSERS
Actual
Budget
11/12
12/13
13/14
14/15
15/16
16/17
17/18
PSERS
Rate
8.65%
12.36%
16.93%
21.40%
25.84%
30.03%
32.23%*
Amount
$3.9M
$5.6M
$7.8M
$10.1M
$12.4M
$14.4M
$15.6M*
* Projected

10. Wissahickon School District 2017-18 Challenges/Opportunities

11. Wissahickon School District 2017-18 Challenges/Opportunities

12. Wissahickon School District 2017-18 Challenges/Opportunities
Expenses
Facilities
The Natatorium and Central Plant Project is going very well. Will likely need to sell 2nd set of $10M bonds in the early Spring of 2017.
Average building age over 50 years other than Lower Gwynedd
Capital Projects Fund of $18M for Capital Preservation vs 5-Year Capital Maintenance Plan projected total of $25M

16. Wissahickon School District
Timeline
Act 1 amount for is 2.5%.
January – decide whether to have a Preliminary Budget with exceptions (Special Education/PSERS) or stay within the 2.5% index.
Various meetings and discussions concluding with
the May/June adoption of the Budget.

17. Questions