Minooka school district 201 finance committee august 20 2009
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Minooka School District 201 Finance Committee August 20, 2009 PowerPoint PPT Presentation


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Minooka School District 201 Finance Committee August 20, 2009. Al Gegenheimer, Superintendent Minooka Elementary School (Library?) From 6:00 to 8:00 p.m. August 20, 2009 - Agenda. Welcome Purpose of Committee School Finance 101 Review Enrollment & Facilities Plans Review Tentative Budget

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Minooka School District 201 Finance Committee August 20, 2009

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Minooka school district 201 finance committee august 20 2009

Minooka School District 201Finance CommitteeAugust 20, 2009

Al Gegenheimer, Superintendent

Minooka Elementary School (Library?)

From 6:00 to 8:00 p.m.


August 20 2009 agenda

August 20, 2009 - Agenda

  • Welcome

  • Purpose of Committee

  • School Finance 101

  • Review Enrollment & Facilities Plans

  • Review Tentative Budget

  • Set Next Meeting Date

  • Adjourn at 8:00 P.M.


Purpose of committee

Purpose of Committee

  • Education: The committee will learn about School Finance and the critical issues confronting the school community.

  • Feedback: The committee will provide feedback to the Board and administration.

  • Advisory: The committee will serve as an advisory committee to the Board of Education.


Education

Education

SCHOOL FINANCE 101:

  • Educate key members of the community on School Finance in general

  • Educate members on School Finance specific to Minooka School District 201


General school finance

General School Finance

Two very good publications:

  • “Understanding School Finance”

  • “Where does the Lottery Money Go?”


Revenue sources for schools

Revenue Sources for Schools

  • Property Taxes

  • Corporate Personal Property Replacement Tax

  • General State Aid

  • Grants & Entitlements

  • Fees


Expenses at minooka schools

Expenses at Minooka Schools

  • 80% to 90% of all expenses can be tied to salaries & benefits.

  • Remaining 10% to 20% is spent on everything from band-aids to paper clips, electricity to phones, computers to playground balls, etc.


School funds

School Funds

  • 10 Education Fund

  • 20 Operations & Maintenance Fund

  • 30 Debt Service Fund (Bond & Interest Fund)

  • 40 Transportation Fund

  • 50 IMRF/Social Security Fund

  • 60 Capital Projects Fund (Site & Construction)

  • 70 Working Cash Fund

  • 80 Tort Fund (Rent Fund)

  • 90 Fire Prevention & Safety Fund


Enrollment projections

Enrollment Projections

Attached


Enrollment history

Enrollment History


Enrollment projections1

Enrollment Projections

* Estimated enrollment

** According to Ehler’s Projections


Exploding enrollment

“Exploding Enrollment”

  • Illinois defined term given to schools subjected to tremendous enrollment growth

  • Defined as: Schools that are growing at a rate of 10 percent or more of their current population or by 200 or more students annually.


What does this mean

What does this mean?

  • Growth in the community has slowed.

  • Our student enrollments have grown very quickly in the past several years.

  • Our student enrollments will continue to grow in the near future.

  • The growth has required additional staff and classrooms in the past several years.


Facilities status

Facilities Status


Capacities prior to construction

Capacities Prior to Construction

  • Minooka Jr. High School - ~1100

  • Minooka Intermediate School - ~250

  • Minooka Elementary School - ~600

  • Walnut Trails Elementary School - ~800

  • Aux Sable Elementary School – ~800

    Total district (maximum) capacity ~3550 full time students

    Administration is located 304 Mondamin Street, Suites 116, 120 & 124


New district configuration for fy2010

New District Configuration for FY2010!

Combined 5-6 & 7-8 Campus

  • 7th & 8th @ MJHS ~1100

  • 5th-6th @ New MJHS ~1100

  • Pre-K & Kind. @ MIS ~600 (FY2011)

  • 1st-4th @ MES ~700

  • 1st-4th @ WT ~800

  • 1st-4th @ AUX ~800

  • 1st-4th @ Jones ~800

  • Totals ~5900 Students


Construction costs

Estimates: (*Includes $2,593,950 of Life Safety Costs)

*New 5th-6th Grade School - $28,147,681

Jones Elementary School - $17,856,474

*Addition to MES - $6,145,385

*Renovation to MIS - $4,844,410

*Total Costs - $57,459,265

Actual Costs: (*Includes Actual and Estimated Life Safety Costs)

*New 5th-6th Grade School – $25,273,520

Jones Elementary School - $16,480,737

Addition to MES - $7,016,070

Renovations to MIS - $5,026,806

Total cost - ~$53,797,133

Construction Costs


Construction costs continued

Construction Costs (continued)

  • Total estimated costs = $57,459,265

  • Total actual (and estimated) costs = $53,797,133

  • Estimated under(over) budget = $3,662,132


Minooka school district 201 fy2010 tentative budget

Minooka School District 201FY2010 Tentative Budget

Presented by Al Gegenheimer, Superintendent

Presented to the Minooka School Community

August 20, 2009


Welcome

Welcome

Thank you all for coming!


School budgets

School Budgets

  • Budget must be approved by the end of the first quarter annually (September 30, 2009)

  • Tentative Budget must be placed on public display for at least 30 days (approved at the July Board Meeting)

  • District must hold a public hearing after budget is displayed for 30 days prior to approving the final budget


Fy2010 minooka 201 budget

FY2010 Minooka 201 Budget

  • FY 2010 Budget is based on FY2009 experience & we have some good news and some not so good news

    • We had an operating surplus in FY2005, FY2006, FY2007, FY2008, & FY2009

    • We will experience a large deficit this year and much of the deficit will not be easily resolved


Four major parts to budget

Four Major Parts to Budget

There are four major parts to the Budget:

  • Revenues

  • Expenditures

  • Budget Summary

  • Cash Summary


Funds

Funds

The budget money received and expended gets divided up into nine (9) major funds:

Education (10)

Operations & Maintenance (20)

Debt Service (30)

Transportation (40)

IMRF/Social Security (50)

Capital Projects (60)

Working Cash (70)

Tort (80)

Fire Prevention & Safety (90)


Revenues

Revenues

  • The major sources of Revenue are:

    • Local Sources (1000)

    • Flow-Through (2000)

    • State Sources (3000)

    • Federal Sources (4000)


Expenditures

Expenditures

  • Sorted by Fund, Function, & Object:

    • FUND - Money is spent by FUND (nine major funds covered earlier)

    • FUNCTION – This identifies the program that money is being expended for (rows)

    • OBJECT – This identifies the type of expense (columns)


Budget summary

Budget Summary

  • Summarizes

    • Starting Fund Balance

    • Revenues

    • Expenses

    • Ending Fund Balance


Cash summary

Cash Summary

  • Summarizes cash:

    • Starting Fund Balance

    • Revenues

    • Expenses

    • Ending Fund Balance

  • Can never have “negative cash”


Operating funds

Operating Funds

  • Education Fund (10)

  • Operations & Maintenance Fund (20)

  • Transportation Fund (40)

  • Working Cash Fund (70)


The bank working cash 70

The “Bank” – Working Cash (70)

  • Working Cash is the solution to a school district’s “cash-flow” problems

    • Why is there a problem?

    • How does it work?

  • School Finance experts (IASBO) recommend that the fund balance in the Working Cash Fund be maintained at somewhere between 33% & 50% of the projected operating expenses.


Non operating funds

Non-Operating Funds

  • Debt Service Fund (30)

  • IMRF/Social Security (50)

  • Capital Projects (60)

  • Tort Fund (80)

  • Fire & Life Safety (90)


Fy2010 tentative budget generalizations

FY2010 Tentative Budget “Generalizations”

  • Operating Budget has a $4,189,449 deficit due to:

    • Purchase of school property ($2.4 million)

    • $950,000 is listed as “Provisions for Contingencies”

    • Includes increased expenses associated with opening two new buildings and lowering class sizes

  • Non-Operating Budget has a $27,119,208 deficit due to:

    • Construction costs associated with building two (2) new schools, putting an addition on Minooka Elementary School, and renovating the old Minooka Intermediate School

    • Life Safety Work at Minooka Jr. High, Intermediate (old), and Elementary Schools

    • Most of construction revenue was received in prior year (FY2008)


Operating funds cash balances projected for june 30 2010

Operating Funds Cash Balances (projected for June 30, 2010)

  • Education Fund = $9,206,903

  • O & M Fund = $2,961,777

  • Transportation = $288,314

  • Working Cash Fund = $10,528,727


Non operating fund balances projected for june 30 2010

Non-Operating Fund Balances(Projected for June 30, 2010)

  • Debt Service Fund = $2,553,742

  • IMRF/SS Fund = $313,743

  • Capital Projects Fund = $5,569,598

  • Tort Fund = $25,000

  • Fire & Life Safety Fund = ($1,087,310)


Any questions

Any questions?

Thank you for your time and interest in our schools.


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