2013-2014 Budget Information - PowerPoint PPT Presentation

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2013-2014 Budget Information

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  1. 2013-2014 Budget Information

  2. OUR School District…OUR Children

  3. Budget Process At all times during the process, the goal is to maintain the highest quality of excellence in our educational program for our students as possible. Our students’ needs come first! 2

  4. Sources of Revenue Revenue is comprised of four sources: local, state, federal and fund balance. • Local revenue sources include real estate taxes, Per Capita taxes, tuitions, earnings on investments and miscellaneous revenue. • State revenue sources include state subsidies for Basic Education Funding, Special Education, and Transportation, State Property Tax Relief, Reimbursement for Social Security and Retirement payments. • Federal revenue source consists of Title I & II and ACCESS funds that have restricted uses. • Fund balance is the difference between net assets and liabilities and results when revenues are greater than expenditures. It’s often referred to as asavings account, but does not consist of only cash.

  5. The Act 1 Index • The Act 1 Index is a result of the Taxpayer Relief Act of 2006, which establishedlimits on tax increases. The Index is calculated based on the percentage of increase in the State Wide Average Weekly Wage (SAWW) and the percentage increase in the national Education Cost Index (ECI). The SAWW is determinedby the Department of Labor and Industry in the same manner as the Unemployment Compensation Law and it is calculated on the previous calendaryear. The ECI is also based on the previous 12-month period beginning July 1stthrough June 30th using Elementary and Secondary school data reported by theBureau of Labor and Statistics. • *SAWW calculation changed by Act 6 of 2011 to a 36-month from 12-month Fiscal Year *13/14 12/13 11/1210/11 09/10 08/09 07/08 06/07 SAWW $875 $872 $855 $847 $825 $788 $756 $735 ECI 117 116 114 112 109 105 101 97 SAWW % + 2.0% 2.1% 0.9% 2.7% 4.6% 4.3% 2.8% 4.2% ECI % + 1.4% 1.3% 1.9% 3.0% 3.6% 4.5% 4.0% 3.5% Base Index 1.7% 1.7% 1.4% 2.9% 4.1% 4.4% 3.4% 3.9%

  6. RevenueAct 1 Index vs. RTMSD Increases

  7. Delaware County School District Proposed Mills Ranked by Mills - June 2012 For 2012-2013

  8. Delaware County School District Proposed Mills Ranked by Percentage - June 2012

  9. Tax History

  10. Assessment – Ten Year History

  11. Revenue Budget Comparison

  12. Revenue Summary

  13. Local Revenue

  14. State Revenue

  15. 1 millage point (mill) is equal to approximately $2.81 million Act 1 Index is 1.7% 2011-2012 Homestead exemption $207 2012-2013 Homestead exemption $209 2013-2014 Homestead exemption $211 Average homeowner assessment is $205,173 Average homeowner tax bill in 2013-2014 $4,717 Increase in average homeowner tax bill for 2013-2014 is $77 The use of $1.5 million in fund balance Key Facts and Figures of the Revenue Budget. -- Key Points -- 14

  16. In accordance with the Pennsylvania Department of Education expenditures are categorized by objects and functions. Objects Salaries - wages for all school district employees Benefits - health care, tuition reimbursement, retirement and social security Contracted Professional Services – tuition to the Intermediate Unit, legal and auditing services Purchased Property Services - utilities, repairs and rentals. Other Purchased Services - transportation, property insurances, advertising, tuitions and travel Supplies- books, general supplies and natural gas. Equipment - computers, furniture and vehicles Other objects – interest on bonds, dues and fees Other Uses of Funds – bond principal and fund transfers Expenditure Budget for 2013-2014 15

  17. Expenditure Comparison by Function

  18. Expenditure Comparison by Function

  19. Expenditure Comparison by Object

  20. Expenditure Comparison by Object

  21. In accordance with the Pennsylvania Department of Education expenditures are categorized by objects and functions. Functions 1000Instruction-regular, special, vocational, alternative education programs and the Delaware County Community College 2000 Support Services-guidance, administration, student health, business, operations and maintenance, student transportation, staff and technology services 3000 Operations of Non-Instructional Services-athletics, student activities, and community services 5000 Other Expenditures and Financing Uses-debt service, fund transfers, and budgetary reserve Expenditure Budget for 2013-2014 is $82,481,722 20

  22. Rose Tree Media School District’s Expenditure Budget for 2013-2014

  23. iPad initiative for Penncrest students Reduction in staff through attrition ADSUP II Non-Instructional Instructional Maintain Current Programs Savings through energy efficiencies Key Facts of the Expenditure Budget. -- Key Points -- 22

  24. Summary Budget Budget Final Expenditures 2012-2013 2013-2014 Instructional 1000 $43,918,147 $44,625,442 Support Services/ 2000 25,236,041 26,653,732 Operations Non-Instructional Services 3000 1,515,246 1,588,821 Other Financing Services 5000 9,635,6679,613,727 Totals $80,305,101 $82,481,722 Budget Final Revenues 2012-2013 2013-2014 Local 6000 $66,314,685 $67,828,429 State 7000 11,298,577 12,342,814 Federal 8000 592,700 636,600 Sub Totals $78,205,962 $80,807,843 Fund Balance 2,099,139 1,673,879 Totals $80,305,101 $82,481,722

  25. Challenges • Tax Appeals • Level State Funding • Unfunded Mandates • Charter School Tuition • Alternative Education • Special Education • Future Retirement Costs • Rising Health Care Costs

  26. Highlights • 2013-2014 Homestead exemption $211 • Average homeowner assessment is $205,173 • Average homeowner tax bill is $4,717 • Maintain Current Programs • An Award Winning District