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Rod Zivkovich Executive Director of Finance and Support Services
Budget Update December 11, 2017 Rod Zivkovich Executive Director of Finance and Support Services
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Presentation Objectives
Prepare School Board to make an informed decision on the Proposed Revised Budgets Board Action tonight
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New information since Board approved the budget
Timeline Decision Decision Date New information since Board approved the budget Proposed Budget Adjustments December 11, 2017 Audit Updated enrollment, legislation and financial data
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Budget Revision Categories
Prior year carry over Updated information Grants/Gifts/Revenue Other
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Funds Capital and Deferred Maintenance Debt Service
Operating Capital Alternative Facilities (Deferred Maintenance) Construction Capital Projects (Technology and Security) Debt Service Insurance and Internal Services Self-Insured Dental and Medical OPEB Trust and Debt Internal Service (Vacation and Severance) Operating Funds Food Services Community Services General Fund/Transportation
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2017-18 Proposed Revised Budget
Operating Capital
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Operating Capital Beginning Fund Balance $5,287,810 $4,583,283
Audit Budget Board Approved June 2017 Proposed Budget Revisions Proposed Revised Budget Beginning Fund Balance $5,287,810 $4,583,283 $8,119,541 Revenues 3,828,925 3,645,511 72,145 3,717,656 Expenditures 997,194 4,420,174 1,085,767 5,505,941 Rev over Exp 2,831,731 (774,663) (1,013,622) (1,788,285) Ending $3,808,620 $6,331,256
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2017-18 Proposed Revised Budget
Alternative Facilities Fund
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Alternative Facilities Fund
Audit Budget Board Approved June 2017 Proposed Budget Revisions Proposed Revised Budget Beginning Fund Balance $11,684,690 $27,218,885 $23,903,542 Revenues 28,667,340 3,481,335 Expenditures 16,448,487 15,618,187 Rev over Exp 12,218,852 (12,136,852) Ending $15,082,033 $11,766,690
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2017-18 Proposed Revised Budget
Capital Projects Fund
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Capital Projects Fund Beginning Fund Balance $2,524,462 $1,246,622
Audit Budget Board Approved June 2017 Proposed Budget Revisions Proposed Revised Budget Beginning Fund Balance $2,524,462 $1,246,622 $4,284,126 Revenues 5,988,723 6,864,950 Expenditures 4,229,059 6,550,000 1,200,000 7,750,000 Rev over Exp 1,759,664 314,950 (885,050) Ending $1,561,572 $3,399,076
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2017-18 Proposed Revised Budget
Debt Service Fund
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Debt Service Fund Beginning Fund Balance $675,609 $748,197 $1,357,182
Audit Budget Board Approved June 2017 Proposed Budget Revisions Proposed Revised Budget Beginning Fund Balance $675,609 $748,197 $1,357,182 Revenues 11,789,373 10,592,324 Expenditures 11,107,800 11,167,799 Rev over Exp 681,573 (575,475) Ending $172,722 $781,707
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2017-18 Proposed Revised Budget
Self-Insured Dental Fund
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Self-Insured Dental Fund
Audit Budget Board Approved June 2017 Proposed Budget Revisions Proposed Revised Budget Beginning Fund Balance $1,193,408 $1,153,408 $1,167,765 Revenues 1,241,590 1,300,000 Expenditures 1,267,233 1,400,000 Rev over Exp (25,643) (100,000) Ending $1,053,408 $1,067,765
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2017-18 Proposed Revised Budget
Self-Insured Medical Fund
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Self-Insured Medical Fund
Audit Budget Board Approved June 2017 Proposed Budget Revisions Proposed Revised Budget Beginning Fund Balance $5,577,520 $6,037,520 $7,461,312 Revenues 21,925,335 20,010,000 Expenditures 20,041,543 19,760,000 Rev over Exp 1,883,792 250,000 Ending $6,287,520 $7,711,312
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2017-18 Proposed Revised Budget
Other Post Employment Benefits (OPEB) and Internal Service Funds
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OPEB Trust Fund Beginning Fund Balance $14,927,737 $14,202,738
Audit Budget Board Approved June 2017 Proposed Budget Revisions Proposed Revised Budget Beginning Fund Balance $14,927,737 $14,202,738 $15,066,751 Revenues 139,264 75,000 Expenditures 250 400,000 600,000 1,000,000 Rev over Exp 139,014 (325,000) (925,000) Ending $13,877,738 $14,141,751
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OPEB Debt Fund Beginning Fund Balance $204,574 $196,639 $189,514
Audit Budget Board Approved June 2017 Proposed Budget Revisions Proposed Revised Budget Beginning Fund Balance $204,574 $196,639 $189,514 Revenues 12,329,167 829,121 Expenditures 12,344,257 877,306 Rev over Exp (15,060) (48,185) Ending $148,454 $141,329
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Internal Services Fund
Audit Budget Board Approved June 2017 Proposed Budget Revisions Proposed Revised Budget Beginning Fund Balance $6,821,718 $6,421,718 $2,455,514 Revenues 517,122 Expenditures 4,883,326 600,000 (600,000) Rev over Exp (4,366,204) Ending $5,821,718
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2017-18 Proposed Revised Budget
Food Services Fund
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Food Services Fund Beginning Fund Balance $1,144,191 $1,021,452
Audit Budget Board Approved June 2017 Proposed Budget Revisions Proposed Revised Budget Beginning Fund Balance $1,144,191 $1,021,452 $1,171,653 Revenues 5,243,131 5,167,141 Expenditures 5,215,669 5,318,113 Rev over Exp 27,462 (150,972) Ending $870,480 $1,020,681
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2017-18 Proposed Revised Budget
Community Services Fund
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Community Services Fund
Audit Budget Board Approved June 2017 Proposed Budget Revisions Proposed Revised Budget Beginning Fund Balance $3,016,707 $3,644,138 $4,791,155 Revenues 13,573,521 12,351,191 (72,307) 12,278,884 Expenditures 11,799,074 12,447,182 99,671 12,546,853 Rev over Exp 1,774,448 (95,991) (171,978) (267,969) Ending $3,548,147 $4,523,186
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2017-18 Proposed Revised Budget
General/Transportation Funds
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General/Transportation Funds
Audit Budget Board Approved June 2017 Proposed Budget Revisions Proposed Revised Budget Beginning Fund Balance $13,052,692 $12,081,943 $12,285,264 Revenues 140,828,651 132,950,206 1,399,490 134,349,696 Expenditures 140,432,442 135,664,853 866,506 136,531,359 Adjusted to Restricted or Committed (1,163,638) 532,984 (2,181,663) Rev over Exp (767,428) (2,714,647) Ending Fund Balance 8.7% of Expenditures $9,367,296 6.9% of Expenditures $10,103,601 7.4% of Expenditures
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Next Steps Board approval December 11, 2017
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2017-18 Proposed Revised Budgets Presentation
Questions and/or Comments
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