Overview of financial status
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OVERVIEW OF FINANCIAL STATUS PowerPoint PPT Presentation


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OVERVIEW OF FINANCIAL STATUS. Presented To: Chenango Forks CSD Presented On: November 14, 2013 Presented By: Kathy Blackman, C.P.A. Controller, Central Business Office. Tonight’s Topics. Fund Balance Concepts Long Range Projection Assumptions

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OVERVIEW OF FINANCIAL STATUS

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Overview of financial status

OVERVIEW OF FINANCIAL STATUS

Presented To: Chenango Forks CSD

Presented On: November 14, 2013

Presented By: Kathy Blackman, C.P.A.

Controller, Central Business Office


Tonight s topics

Tonight’s Topics

  • Fund Balance Concepts

  • Long Range Projection Assumptions

  • CBO Long Range Projection

  • Other Long Range Projection Scenarios

  • Summary of Scenarios

  • Impact to Programs

  • Questions


Fund balance

Fund Balance

  • Fund Balance is the Equity of the School District

  • Unassigned Fund Balance is that part of Fund Balance which is not designated for reserves, tax levy reductions, etc.

  • Unassigned Fund Balance is statutorily limited to 4% of the budget for the upcoming school year

  • Assigned Fund Balance is the amount of fund balance designated to support the following year’s budget.


Structural deficit

Structural Deficit

  • A budget deficit that results from a fundamental imbalance in government receipts and expenditures, as opposed to one based on one-time or short-term factors.


Long range projections

Long Range Projections

  • Developed based on ACTUAL projected expenditures and revenues—NOTBUDGET

  • 2013-2014 thru 2017-2018

  • Breaks down major categories of expenditures and revenues and applies a series of assumptions


Long range projection assumptions

Long Range Projection Assumptions

Expenditure Increases

  • Salaries: 2.5% all years

    • TRS Rate: Increase to 17.75% and then slowly decrease

    • ERS Rate: Small decrease in 14-15 with continued decrease

  • Health Insurance: 3.99% in 14-15 and then 7%

  • BOCES: 7% in 14-15 and then 4%

  • Fuel & Utilities: 3% all years

  • Debt Service: Based on actual schedules

  • All Other Expenditures: 1% all years


Long range projection assumptions1

Long Range Projection Assumptions

Revenue Increases

  • Building Aid: Based on projected debt service

  • All Other State Aid: 1.5% all years

  • Other Revenue: Flat with adjustments made for anticipated change in health insurance surplus distribution

  • Tax Levy: 1.5% in 14-15 and 2% Thereafter


Cbo long term projection 1 5 levy and 2 thereafter

CBO Long Term Projection1.5% Levy and 2% Thereafter

*Excludes encumbrance carry over


Additional scenarios

Additional Scenarios

In the following scenarios the only change that was made was for the tax levy:

  • 2.5% for 4 years

  • 9.9%, 9.9% and then 2.5% for 2 years

  • 0% for one year and 2.5% thereafter

  • 12.5% for one year and 2.5% thereafter


Long term projection 2 5 tax levy increase annually

Long Term Projection2.5% Tax Levy Increase Annually

*Excludes encumbrance carry over


Long term projection 9 9 tax levy increase for 2 years

Long Term Projection9.9% Tax Levy Increase for 2 Years

*Excludes encumbrance carry over


Long term projection 0 tax levy increase for 1 year

Long Term Projection0% Tax Levy Increase for 1 Year

*Excludes encumbrance carry over


Long term projection 12 5 tax levy increase for 1 year

Long Term Projection12.5% Tax Levy Increase for 1 Year

*Excludes encumbrance carry over


Summary

Summary


Summary1

Summary


Impact to programs

Impact to Programs


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