1. Middle Bucks Institute of Technology February 8, 2016
2016/2017 General Fund Budget
Middle Bucks Institute of Technology
February 8, 2016

2. Update November 9, 2015 first look at budget-to-budget increase:
General Fund & Lease Rental $387,994 or 3.71%
Unknowns:
Health insurance
Retirement
Insurance
State subsidies
Federal grant
Goal to be at or under Act 1 index – 2.4%

3. General fund & Lease Rental budget-to-budget
2016/17
2015/16
$ Change
% Change
General Fund
$9,300,294
$8,982,933
$317,361
3.53%
Authority Lease
$1,460,021
$1,472,466
-$12,445
-0.85%
Total Expenditures
$10,760,315
$10,455,399
$304,916
2.92%

4. Assumptions: Teachers’ salaries per MBEA Contract
Administrative salaries per Act 93 Agreement
All other Salaries and Wages – 2% increase on 2015/2016 pay rates
Health Insurance – 1st look out of 3 - IBC rates – 5.7% Medical & -9.9% Rx
Retirement – PSERS certified employer rate 30.03%
Purchased property services – increase for cleaning services, equipment maintenance in programs, and facilities.
Use of Committed Fund Balance
Use of funds held by BMCSHCC

5. Summary of budget-to-budget change:
Description
$ Change
% Change
Teacher’s salaries – net
$65,733
0.73%
Admin & support staff salaries & wages - net
16,821
0.19%
Retirement
216,100
2.41%
Health insurance
27,525
0.31%
Contractual & other statutory benefits
22,314
0.25%
Purchased property services
39,843
0.44%
All other net
-70,975
-0.79%
Total General Fund
$317,361
3.53%
Lease rental
-12,444
-0.85%
Total budget-to-budget
$304,917
2.92%

6. Receipts from Member Districts
2016/17
2015/16
$ Change
% Change
General Fund
$7,498,934
$7,282,183
$216,751
2.98%
Authority Lease Rental
$1,460,022
$1,472,466
-$12,444
-0.85%
Total Contribution
$8,958,956
$8,754,649
$204,307
2.33%

7. Local, state & federal revenue +
Other Local Revenue - $82,300 vs. $78,550
State Subsidies – increase Voc Ed and Retirement Subsidies
Total state $1,288,060 vs. $1,157,200
Federal funding – increase from Carl D. Perkins Grant
Total Federal $281,000 vs. $265,000
+ Committed fund balance & BMCSHCC $150,000

8. Other budgets Capital Reserve Fund
Funded at discretion of Executive Council using unspent current year budget. Proposed $100,000
Funds used for acquisition of program equipment, capital repairs and maintenance to facilities
Digital road sign – carryover $30,000
Plumbing ,000
Campus lighting ,500
Roof repairs ,000
Concrete repairs ,000
Equipment & grant matching funds 50,000

9. Other Budgets Adult Education $152,778 vs. $157,520
Fall & Spring Adult Evening Programs
Customized Industry Training
Emission Recertification
Production Fund $269,800 vs. $256,620
Live work by students: Aspirations, Salon Extreme, the student- built modular house Student workbooks, Cosmetology kits & field trips
Summer Career Exploration Program

10. Other budgets Proprietary Fund $209,240 vs. $204,000 Fiduciary
Li’l Bucks Preschool
Educational programs for Toddlers & Preschool Children
Fiduciary
Student Activities Fund
Skills USA
Future Health Professionals - HOSA
Future Farmers of American - FFA
Pennsylvania Builders Association - PBA

11. Questions?
Next step:
Final revisions
Board action – March 14, 2016