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Budget Presentation. March 24, 2010. Starting Point. Projected Appropriation Increase (Roll-Over Current Programs) $6,128,710 Projected Revenue Decrease $5,383,190 Withdrawn Fund Balance Use $3,060,000. Total Projected Budget Gap. $6,128,710 + $5,383,190 + $3,060,000 $14,571,900.

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budget presentation

Budget Presentation

March 24, 2010

starting point
Starting Point
  • Projected Appropriation Increase (Roll-Over Current Programs)
    • $6,128,710
  • Projected Revenue Decrease
    • $5,383,190
  • Withdrawn Fund Balance Use
    • $3,060,000
total projected budget gap
Total Projected Budget Gap
  • $6,128,710 + $5,383,190 + $3,060,000
  • $14,571,900
information
Information
  • Available Unreserved/Undesignated Fund Balance
  • Available Dedicated Reserve Balance
  • Program Student Impact/Costs
available unreserved undesignated fund balance
Available Unreserved/Undesignated Fund Balance
  • $9,484,980
    • This is a projected number and is the best case scenario based on current spending levels.
    • Current law allows for a maximum of 4% of the district’s budget to be retained in this fund balance account. Our current $9.4 million projection exceeds that allowance.
    • I recommend the use of no more than 50% of the projected fund balance to reduce the levy impact of the 2010-2011 budget.
    • It is important to remember that the use of fund balance in this way requires a like commitment in subsequent years.
accessible dedicated reserve s balance
Accessible Dedicated Reserve(s) Balance
  • $7,879,250
    • This balance is the sum of all accessible reserve accounts: workers’ compensation, unemployment, debt service, liability, tax certiorari, and insurance reserves.
    • I “do not” recommend allocating any of these reserve funds to this year’s budget. I am very concerned about the impact of the loss of ARRA funds on the 2011-2012 budget and the impact of decimating these accounts in the event of unforeseen emergencies.
other outstanding issues
Other Outstanding Issues
  • ARRA Replacement Update
  • C4E Replacement Update
  • Health Insurance Community vs. Experience Rated
  • Department of Labor Grant Capabilities
  • Impact of the Closure of the New Covenant Charter School
  • Health Insurance Costs
  • State Aid / State Budget
  • Contingency Legislation
  • Other Program Costs not yet calculated
revised budget timeline
Revised Budget Timeline
  • March 24 Program Costs
  • March 31 Preliminary Budget Proposal by Superintendent
  • April 14 Budget Discussion
  • April 21 Budget Adoption by Board