1. 2019-2020 Proposed Preliminary Budget
February 4, 2019

2. Budget Development Updated Budget Calendar
Includes Topic Discussions for each Board Meeting through June
March Discussion to include Debt Service Options
April Discussions to include:
Facilities and Long Range Planning
Special Education
Revenues are based off of 17-18
February 4, 2019

3. Local Revenue Estimates – Local Revenue
Real Estate Assessed Value Trend:
: 1,950,663,700
: 1,895,943,300
As of 12/28/2018: 1,926,419,500
Real Estate Tax Increase
Act 1 Index = 2.3% = $445,000
Earned Income Tax
Increase to Actuals = $500,000
February 4, 2019

4. Earned Income Tax
Earned income tax collection is driven by the economy and the state of our local unemployment and retiree situation.
In the budget, EIT has been adjusted to the collection rate. The current year rate so far is trending the same as 17/18 collection through January.
We forecast a 1.00% increase annually for the next 5 years.
February 4, 2019

5. State and Federal Revenue
State Revenue Growth
Funding levels based on funding allocations.
Federal Revenues
The preliminary budget is based on state and federal funding levels.
Revenue adjustments have been made based on projected PSERS and FICA expenditures.
February 4, 2019

6. Basic Education Funding
February is when the State will roll out their funding projections for the school year.
February 4, 2019

7. Composition of Revenue
Total Local Revenue $26,515,581
Total State Revenue $10,598,343
Total Federal Revenue $260,000
Total Revenue $37,373,924
February 4, 2019

8. Composition of Revenue
1% Federal
28% State
71% Local Effort
February 4, 2019

9. Expenditures Increase in Expenditures – By Category
Personnel - $166,547
Health Insurance - $310,645
PSERS - $294,867
Transportation - $15,310
Debt Service - $80,000
February 4, 2019

10. Health Insurance
Projecting an increase in health insurance by 18% which is our contractual cap. Early data from change to HSA shows slight decrease in claims; which may help with negotiations but current data still at 18% cap.
February 4, 2019

11. PSERS
PSERS rates have continue to rise year after year but the District has been able to control the impact of that annual growth with the movement of salary cost off of our district payroll and into contract service costs /2020 Rate is 34.29%
February 4, 2019

12. District Debt Service Schedule
Discussion in March will be on our 2014 Bond. This bond makes –up $315, ($5000 of principal and $315, of Interest). Last payment in
February 4, 2019

13. Historical Review – Results of Operations
Updated from prior report with 2017/2018 audited figures.
February 4, 2019

14. Budget Projection – 2019-2020 Assumptions:
BUDGET PROJECTIONS SUMMARY
Budget
TOTAL EXPENDITURES
37,373,924
TOTAL REVENUE
SURPLUS OR DEFICIT
ENDING FUND BALANCE - Unassigned
2,209,495
Ending % of Expenditures
5.9%
Assumptions:
Projecting a full Act 1 tax increase
Educational programs are the same as 18-19
No departmental budget meetings have been held
Updated with final audited information
February 4, 2019

15. 5yr Budget Projection Updated with from audited 2017/2018 report.
February 4, 2019

16. Timeline February March
Approved Preliminary Budget at February 19, 2019 Board Meeting
March
Discussion and possible board action on Refinancing of Debt
Expenditure Impact from Budget Leader Meetings
February 4, 2019

17. Timeline (continued) April May June
Topic Discussion on Facilities and Long Range Plans
Topic Discussion on Special Education Budget
May
Adopt Proposed Final General Fund Budget
June
Adopt Final General Fund Budget
February 4, 2019