1. Ottawa Elementary District #141
Fiscal Year 2019 Budget

2. Education Fund
The Education Fund is the largest fund. It represents 68% of the district’s total expenditures in FY19. It pays all salary, benefits, textbook, materials, supplies, and equipment costs associated with students during the teaching and learning process. Total revenues (minus working cash abatement) for the year is estimated to be $17,305,776, a decrease of $645,075 (-3.7%) from last year. Reason for decrease: -MCAT’s will total fewer revenues in FY19 due to: -Late/discontinued FY17 MCAT payments received in FY18 Total expenditures for the year are estimated to be $17,331,368, a decrease of $47,064 (<1 % ) from last year. Reasons for decrease: -Multiple retirements in FY18; -Reduction of 1 teaching section. Note: An abatement of working cash to the Ed Fund at the close of FY19 is not anticipated.

3. Education Fund Year Revenues Expenditures Difference 2019 Projected
17,305,776
17,331,368
(25,592)
2018
17,950,851
17,378,432
572,419
2017
16,122,303
17,112,154
(989,851)
2016
15,843,956
17,419,962
(1,576,006)
2015
15,604,323
17,558,680
(1,954,357)
2014
16,466,277
17,492,658
(1,200,000)
2013
16,509,609
17,391,934
(882,324)

4. Operations and Maintenance Fund
The O&M pays custodial and maintenance salaries, as well as all material, supply, and equipment costs associated with building and grounds maintenance. Total revenue for the year is estimated to be $997,952, an increase of $33,935 (3.5%) from last year. Total expenditures for the year are estimated to be $2,242,183, an increase of $770,506 (52%) from last year. Reasons for the increase: -Boiler project at Jefferson -Parking lot upgrades earmarked for this year -Bat guano clean up Note: Working cash bonds earmarked for capital projects will cover the bulk of the boiler project costs

5. Operations & Maintenance
Year
Revenues
Expenditures
Difference
2019
Projected
997,952
2,242,183
(1,244,231)
2018
964,017
1,471,677
(507,660)
2017
946,337
1,327,393
(381,056)
2016
964,816
1,515,472
(550,657)
2015
931,227
2,115,047
(1,183,820)
2014
1,242,104
1,606,228
364,124
2013
1,665,194
1,391,793
273,401

6. Debt Service Fund
The Debt Service (Bond and Interest) Fund was created to allow school districts to pay off bonds issued for allowable purposes.
The levy is determined by the amount due for bonds.
We currently have 3 bond issues outstanding:
-2017 Working Cash Bond
-2015 Life Safety Bond
-2010B Building Bond
Total revenue for the year is estimated to be $3,003,518, a decrease of $132,584 (4.4%) from last year.
Reason:
-We issued the 2017 working cash bond at a lower rate than the previous bond in
2015.
Total expenditures for the year are estimated to be $3,004,518, a decrease of $142,013 (4.7%) from last year.

7. Debt Service Year Revenues Expenditures Difference 2019 Projected
3,003,518
3,004,518
(1,000)
2018
3,136,102
3,146,531
(10,429)
2017
3,123,702
3,147,358
(23,656)
2016
2,128,056
2,129,791
(1,735)
2015
2,039,613
2,040,563
(950)
2014
3,766,830
3,845,523
(78,694)
2013
2,295,293
2,303,388
(8,095)

8. Transportation Fund
The Transportation Fund pays all driver and maintenance salaries, as well as all material, supply, and equipment costs associated with transporting regular and special education students to and from school and co-curricular field trips and events. Total revenue for the year is estimated to be $1,426,042, a decrease of $50,846 (3.5%) from last year. This is our best estimate of receipt of categorical payments. Total expenditures for the year are estimated to be $1,530,805, a decrease of $407,178 (27%) from last year. Reason for decrease: - Six new buses were purchased outright through the working cash abatement in FY18.

9. Transportation Year Revenues Expenditures Difference 2019 Projected
1,426,042
1,530,805
(104,762)
2018
1,476,888
1,937,984
(461,095)
2017
1,345,967
1,332,438
13,529
2016
1,443,947
1,256,699
187,247
2015
1,176,567
1,331,072
(154,505)
2014
1,407,935
1,335,716
72,219
2013
1,341,698
1,321,777
19,921

10. IMRF/SS Fund
The Illinois Municipal Retirement Fund pays the support staff pension, social security contributions and teacher Medicare contribution. These contribution rates are established for us and then we are allowed to levy a tax rate to meet our estimated obligations. Currently, our contribution rates are: IMRF (Calendar) 2018 (11.57 %) 2019 (9.59%), Social Security (6.20%); and, Medicare (1.45%). Total revenue for the year is estimated to be $923,210, an increase of $2,938 (<1%) from last year. Total expenditures for the year are estimated to be $892,079, a decrease of $10,822 (1.2%) from last year.

11. IMRF/Social Security Year Revenues Expenditures Difference 2019
Projected
923,210
892,079
31,131
2018
920,273
902,901
17,371
2017
917,747
919,308
(1,561)
2016
976,073
926,870
49,203
2015
1,007,598
994,010
28,686
2014
979,559
969,866
9,693
2013
982,790
980,120
2,670

12. Working Cash Fund
The Working Cash Fund dollars are generated by the 5 cent levy or through issuing bonds. This year the fund estimated revenues are $187,501 (Levy $141,909) The estimated expenditures/abatement are $750,000. This represents an abatement to the Operation and Maintenance Fund. We issued a 3 year $6,278,645 working cash bond in November 2017

13. Working Cash Year Beginning Balance Revenues Abatements/Loans
Anticipated Balance
Projected
2019
6,312,742
187,501
750,000
5,750,243
2018
3,349,927
6,462,540
3,499,724
2017
4,762,464
157,462
1,570,000
2016
1,912,212
5,000,253
2,150,000
4,762,465
2015
3,729,855
139,215
1,950,000
1,911,262
2014
5,134,700
145,155
1,550,000
2013
5,877,660
145,403
900,000
5,123,063

14. Tort Fund
The Tort Fund is taxes that are levied for tort immunity or tort judgment purposes. The Tort Fund is designed to protect the school operating budgets from unexpected legal costs, such as lawsuit settlements. Tort funds can also be used for risk management purposes. This year our anticipated revenues are $563,054. This is a $2,186 increase (<1%) over last year. Our expenditures are anticipated to be $550,607, or an increase of $47,378 (9%).

15. Tort Year Revenues Expenditures Difference Projected 2019 563,054
550,607
12,447
2018
560,868
503,229
57,639
2017
419,170
396,382
22,789
2016
418,619
400,513
18,106
2015
398,487
444,441
(45,954)
2014
413,070
471,702
(58,632)

16. Life Safety Fund
This fund is established to provide funds needed to address building repair and renovation projects that are deemed to life safety hazards by the District’s Architect and the Illinois State Board of Education. The projects must meet standards for safety and energy conservation. Funding is obtained by two local taxing sources: the regular $.05 levy; and through the issuance of Life Safety Bonds. Total revenue for the year is $1,000 based on interest income. We elected not to levy for Life Safety last year because we believe that we have enough money for Jefferson roof repair banked through previous levies. Total expenditures for the year are estimated to be $2,000. This includes possible architect fees and “what ifs”.

17. Life Safety Year Beginning Balance Revenues Expenditures Difference
Projected
2019
451,282
1,000
2,000
(1,000)
2018
336,482
137,485
22,684
114,800
2017
476,402
133,015
291,500
(158,485)
2016
1,612,871
129,324
1,265,792
1,136,468
2015
359,238
2,030,715
2,246,600
(215,885)
2014
224,930
134,308
2013
83,353
145,403
2,825
142,577

18. Budget Expenditure % by Fund

19. End of Year Fund Balances
2013
2014
2015
2016
2017
2018
2019
Projected
Education
35,298
63,799
58,589
39,426
246,075
2,557,211
2,551,619
O & M
465,094
451,025
17,205
21,250
25,194
517,535
23,304
Debt Service
52,390
(26,303)
29,245
0.42
(30,484)
(31,484)
(41,912)
Trans
123,619
201,018
46,513
237,685
251,213
562,628
457,865
IMRF
5,405
15,098
76,686
125,889
112,826
118,698
149,817
Working Cash
5,123,062
3,729,855
1,911,262
4,762,465
3,349,926
6,312,742
5,750,244
Tort
42,472
549
18,655
41,444
61,216
118,854
131,301
Life Safety
224,930
359,238
1,611,626
476,402
336,482
451,282
450,282

20. Local Revenue Sources
Property Taxes Our main source of income is property taxes. This year, we approximate that 31% of our revenues (minus CPPRT and Bond and Interest levy) will be collected from property taxes.

21. Corporate Personal Property Replacement Tax
Considered a local revenue
Established in 1979
Replaced personal property tax on businesses
Tax on the net income of businesses and on invested capital of utilities
Proceeds distributed based on relative share of pre-1979 personal property taxes
This year we anticipate receiving approximately ($1,383,075) from CPPRT or 16% more than last year (1,190,638).

22. Interest on Investments
Interest rates remain low

23. Property Taxes/Levy Extension
Fund
2012
2013
2014
2015
2016
2017
2018 Ed
7,127,596
6,764,920
6,479,151
5,849,401
5,959,096
6,197,015
6,357,557
O & M
771,382
732,134
701,206
652,834
665,078
691,631
709,549
Debt Service
2,284,836
2,302,914
2,325,426
2,146,051
3,145,365
3,145,040
3,002,018
Trans
370,263
351,424
336,579
313,360
319,237
331,983
340,583
IMRF/SS
615,563
765,021
765,045
825,026
765,026
765,027
765,035
Working Cash
154,276
146,426
140,241
130,567
133,015
138,326
141,910
Tort
370,020
370,012
370,001
500,005
500,022
Life Safety
Totals
11,848,455
11,579,285
11,257,901
10,417,807
11,619,837
11,907,369
11,816,657

24. Evidence Based Funding
Consolidation of Grants
EBF Formula consolidates and replaces 5 previous grant programs
-General State Aid
-Special Education Personnel
-Special Ed Funding for Children
-Special Ed Summer School
-English Learner Education
Result: MCAT payments that were often received after the close of the fiscal year are now tied into the monthly payment formula previously referenced as GSA. This makes budgeting more predictable and reliable.
Gross Base Funding Minimum
Guarantees that the amount of EBF revenues are not less than the previous fiscal year
Tier funds allot revenue in addition to the Gross Base Funding Minimum. In FY18 the total EBF = $6,213,326
OES is scheduled to receive an additional $238,750 as compared to FY18 for a total of $6,452,076 in FY19

25. General State Aid/Evidence Based Model
2019
Projected EBF
6,452,076
(22 payments)
2018
EBF
6,213,326
2017
GSA
5,043,505
2016
4,884,268
2015
4,436,809
2014
4,458,023
2013
3,930,150

26. Education Fund Resources & Trends

27. Education Fund Revenue Source 2013 2014 2015 2016 2017 2018 2019
Projected
State
5,665,848
6,286,685
6,199,553
6,294,914
6,678,841
7,098,438
7,329,989
Federal
1,418,976
1,362,052
1,441,281
1,456,452
1,638,439
1,574,622
1,610,835
Local
(Levy/Extension)
6,559,924
6,479,151
6,039,051
5,849,401
5,959,096
6,197,014
6,357,557

28. Education Fund FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY2019
Expenditure Source
FY 2013
FY 2014
FY 2015
FY 2016
FY 2017
FY 2018
FY2019
Projected
Salaries and Benefits
14,818,660
14,823,351
14,800,238
14,494,179
14,549,062
14,470,308
14,489,378
Contracted Labor and Supplies
1,791,054
1,712,256
1,745,163
1,735,386
1,882,694
1,894,600
1,766,586
Capital Outlay and Tuitions
782,219
895,100
1,018,576
1,190,397
1,052,283
1,248,745
1,075,404
Totals
17,391,933
17,430,707
17,563,977
17,419,962
17,484,039
17,613,653
17,331,368

29. Operations & Maintenance
Expenditure
Source
FY 2013
FY 2014
FY 2015
FY 2016
FY 2017
FY2018
FY2019
Projected
Salaries & Benefits
1,156,496
1,209,449
1,189,910
1,154,671
1,019,438
1,049,325
1,072,633
Contracted Labor and Supplies
177,631
221,900
288,600
197,585
267,700
245,800
333,250
Capital Imprvmts
57,666
261,000
797,989
141,487
131,300
178,176
836,300

30. Contracted Labor and Supplies
Transportation
Expenditure
Source
FY 2013
FY 2014
FY 2015
FY 2016
FY 2017
FY2018
FY2019
Projected
Salaries & Benefits
827,195
845,127
884,051
866,287
891,549
896,795
1,005,705
Contracted Labor and Supplies
379,219
402,040
418,525
276,157
293,625
297,215
290,100
Capital Outlay
115,363
165,000
185,000
114,255
264,519
941,064
235,000

31. FY 19 Budget Overview
The budget is our best estimate of revenues and expenses for FY19 – a guide to our anticipated financial outcomes.
The budget meets all Illinois Code provisions
The budget reflects anticipated receipts and expenditures in eight funds
Overall, receipts are expected to decrease $7,200,970 as compared to FY18. The main reason for the large decrease in revenues is the issuance of the 2017 working cash bond in FY18.
Overall expenditures are expected to increase $191,121 as compared to last year (O&M projects factor into the increase).

32. Scenarios/Reasons for Fund Revenue Increases
Third consecutive increase in EAV
,148,209
,641,713
,553,195
,853,750
,482,728
,009,458
,133,987
,031,067
,652,437
,819,523
State/Local Sources
EBF is providing more revenue
Previous high - revenue MCAT’s are now included in EBF
EAV continues to trend upward
EAV lowest since (248,000,000)

33. FY 19 Summary Sheet Fund Unaudit begin Balance Unaudit Revenue
Unaudit Expend.
Rev – Exp
Abate
Unaudit Proj.
Balance
Education
$2,557,211
$17,305,776
$17,331,368
($25,592)
$2,531,619
O/M
$517,535
$997,952
$2,242,183
($1,244,231)
$750,000
$23,304
Debt Ser.
($40,912)
$3,003,518
$3,004,518
($1,000)
(41,912)
Trans.
$562,628
$1,426,042
$1,530,805
($104,763)
$457,865
IMRF/SS
$118,685
$923,210
$892,079
$ 31,131
$149,817
Working Cash
$6,312,742
$187,501 -
(750,000)
abate
$5,750,244
Tort
$118,854
$563,054
$550,607
$12,447
$131,301
Life Safety
$451,282
$1,000
$2,000
($2,000)
$450,282
Total
$10,598,026
$24,407,156
$25,490,151
($1,082,995)
$9,452,520

34. Questions?