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2013/ 2014 General Fund Budget

2013/ 2014 General Fund Budget. November 12, 2012 First Draft. Challenges. Many unknowns as of November 12, 2012: Health insurance costs Retirement Insurance Utilities State subsidies Federal grants Contract negotiations. A ssumptions. Teachers’ salaries

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2013/ 2014 General Fund Budget

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  1. 2013/ 2014 General Fund Budget November 12, 2012 First Draft

  2. Challenges Many unknowns as of November 12, 2012: • Health insurance costs • Retirement • Insurance • Utilities • State subsidies • Federal grants • Contract negotiations

  3. Assumptions • Teachers’ salaries • Net decrease due to retirements • Admin, Instructional Assistants and Support Staff Used 3% increase on 2012/13 pay rates • Medical & prescription benefit cost • 12% increase on 2012/13 rates • PSERS used 16.75% vs. 12.36% current employer rate • Increase in Professional & Technical Services for testing of aging transformers • Increased supplies for program growth – BFO, Computerized Drafting & Engineering Graphics, Web Design and new half day program – Administrative Sciences & Business Technology • Utilities – electricity rates will be lower in 2013/14

  4. Status • Budget-to-budget increase $199,230

  5. Components of Increase • Net decrease salaries & wages $ (11,547) • Net decrease health insurance & contract benefits (37,916) • Increase on account of employer’s PSERS rate 191,974 • Net decrease Purchased Property Services (16,858) • Net increase Other Purchased Services 14,860 • Net increase program supplies 24,415 • Decrease in electric and gas utilities (20,000) • Net increase in non-instructional supplies 17,680 • Increase in equipment – classroom & IT 10,000 • All other – net 27,002 • Total $199,610

  6. Projected Revenue • Member School District Contributions for 2013/14:

  7. State & Federal Revenue • Increase from state subsidies is primarily due to increased employer contribution for PSERS • Total state $893,000 vs. $799,000 • Increase from federal sources reflects increase funding for Carl D. Perkins Grant for 2012/2013 • Total federal $320,000 vs. $244,150 • Actual 2012/2013 = $318,270

  8. Next step • Gather more information • Look for budget savings • Goal – to be within ACT 1 Index • Next presentation: February 11, 2013

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