1. Final General Fund Budget
11/24/2018
Final General Fund Budget
Update
June 14, 2016
Adoption Date: June 21, 2016
11/24/2018

2. FY Estimate
11/24/2018

3. FY 2015-2016 General Fund Revenue
11/24/2018

4. FY 2015-2016 General Fund Expenses
11/24/2018

5. FY 2016-2017 General Fund Revenue
11/24/2018

6. RECENT INFORMATION & CHANGES TO: GENERAL FUND BUDGET REVENUE
During May/June, 2016 the Medicaid School Based Service Cost Settlement was approved. FY 16.17
FY Impact: $47,575 in additional revenue. Total Cost Settlement for was $222,668.
Title I allocation for $475,031, or $81,880 more in federal revenue.
Basis Ed & Special Ed Subsidies budgeted at 25% and 40%, respectively, of Governor’s Proposed Budget, or $122,063 in additional state revenue. Governor’s proposed budget reflects a 2.97% increase in BEF, or $264k more in revenue; and a 7.3% increase in SEF, or $140k more in revenue.
11/24/2018

7. PlanCon Reimbursement – 2015-2016
PLANCON UPDATE: The Commonwealth Financing Authority will not meet on June 13 to review the PlanCon borrowing proposal. Because the PlanCon borrowing is being tied by some caucuses to the state budget, resolution of the budget is necessary for PlanCon to move forward.
Auditor Opinion on recording PlanCon Reimbursement:
Receivable will be recorded and deferred inflow will be recognized. Revenue will not be recognized in because the funding won’t be received within 60 days of year-end. It is considered unavailable.
Budget will reflect scheduled annual reimbursement for
11/24/2018

8. FY 2016-2017 General Fund Expenses
15-16
16-17
Major Object / Description
Final Budget 6/16/2015
Budget Estimate
Profinal Budget
16-17 ProFinal vs Estimate
% change
Estimate to Original Budget
100 - Employee Wages
$29,905,482
$29,590,618
$30,439,683
$849,065 3%
-$314,864
200 - Employee Benefits
$18,209,577
$17,842,907
$19,801,911
$1,959,004
11%
-$366,670
Professional & Technical Serv.
$2,241,398
$2,106,174
$2,111,608
$5,434 0%
-$135,224
400 - Purchased Property Services
$1,737,526
$1,685,020
$1,782,688
$97,668 6%
-$52,506
500 - Other Purchased Services
$5,024,934
$5,129,986
$5,398,242
$268,256 5%
$105,052
600 - Supplies, Books, Heat/AC, Fuel
$2,227,232
$2,032,332
$2,197,521
$165,189 8%
-$194,900
700 - Property
$635,717
$623,334
$1,246,745
$623,411
100%
-$12,383
800 - Dues, Interest, Claims
$5,047,943
$5,044,422
$5,074,717
$30,295 1%
-$3,521
900 - Principal Payment, Fund Transfers, Reserve
$4,094,747
$3,927,747
$4,132,595
$204,848
-$167,000
Total Expenditures Excluding Major Maint & Improv.
$69,124,556
$67,982,540
$72,185,710
$4,203,170
-$1,142,016
750/760 - Major Improvements
$637,203
$620,292
$445,325
-$174,967
-28%
-$16,911
Total General Fund Expenditures
$69,761,759
$68,602,832
$72,631,035
$4,028,203
5.87%
-$1,158,927
11/24/2018

9. RECENT INFORMATION & CHANGES TO: GENERAL FUND BUDGET EXPENSE
Personnel wage/benefit changes: HR Director Retirement/Replacement; add Back Spec Ed Teacher previously removed; add security aide; reflect healthcare premium increase at 6.5% – FY 16.17
FY Budget for Wages & Benefits - Adjusted downward by $44,500.
Added professional service cost for sign language interpreter for new student – FY $55,000
Facility Study and Security Study Cost reflected in FY 16.17
Facility Study cost estimate - $46,394 ; Security Study - $35,000
Estimated amount in for Facility Study was removed.
11/24/2018

10. RECENT INFORMATION & CHANGES TO: GENERAL FUND BUDGET EXPENSE
Laptop and Chromebook Lease Financing Costs 16.17
Rental, Interest & Principal reduced by $54k
STEM related costs & Other major improve project costs Net reduction of $48k
11/24/2018

11. FY Major Cost Drivers
11/24/2018

12. Prelim to Profinal
11/24/2018

13. FY 2016-2017 Laptop and ChromeBook Financing
11/24/2018

14. FY STEM
11/24/2018

15. FY 2016-2017 Capital Projects Included in General Fund
11/24/2018

16. FY 2016-2017 Capital Projects Included in General Fund
11/24/2018

17. Summary of Revenue, Expense, and Fund Balance
11/24/2018

18. Summary of Revenue, Expense, and Fund Balance
Exeter Township School District General Fund Budget
PROPOSED FINAL
Act 1 Index
W/Spec Ed exception
Plus Pension Exception
Real Estate Property Tax Rate
3.10%
3.78%
4.82%
1.50%
2.50%
Total Revenue
$ 69,933,412
$ 71,253,504
$ 71,542,760
$ 71,988,436
$ 70,563,767
$ 70,989,852
Total Expenditures
$ 72,621,335
Revenue less Expense
$ (2,687,923)
$ (1,367,831)
$ (1,078,575)
$ (632,899)
$ (2,057,568)
$ (1,631,483)
Fund Balance Components :
Commitments
$ ,904,460
Net Assignments
$ ,074,000
$ ,069,000
$ ,969,000
$ ,369,000
$ ,469,000
$ ,319,000
Unassigned
$ ,331,789
$ ,656,881
$ ,046,137
$ ,091,813
$ ,567,144
$ ,143,229
$ 14,310,249
$ 15,630,341
$ 15,919,597
$ 16,365,273
$ 14,940,604
$ 15,366,689
Unassigned Fund Balance as % of Total Expense 5%
7.8%
8.3%
9.8%
6.3%
7.1%
11/24/2018

19. 11/24/2018

20. Commitments & Assignments
11/24/2018

21. 11/24/2018

22. 11/24/2018

23. PSERs EMPLOYER CONTRIBUTION RATE
11/24/2018

24. 11/24/2018

25. 11/24/2018

26. 11/24/2018

27. Property Tax Relief
State’s Allocation to ETSD for $1,362,771.06
Approved Homestead/Farmstead Properties ,075
Assessed Value Exclusion Amount ,983
Tax relief assuming millage of $ approx.
11/24/2018

28. FINAL ADOPTION: JUNE 21, 2016
Resolutions to be added to June 21, 2016 agenda:
Recommendation to approve the Final General Fund Budget for the school year.
Recommendation to approve the Per Capita Tax for the school year.
Recommendation to establish the real estate millage for the school year.
Recommendation to adopt the Homestead and Farmstead Exclusion Resolution authorizing real estate tax assessment reductions for the year beginning July 1, 2016.
Recommendation to approve fund balance commitment balances.
11/24/2018

29. Discussion
Extracurricular Activity Fee
11/24/2018