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2013-14 Amended Budget. East Grand Rapids Public Schools. Discussion Topics. Budget History – Where have we been, what have we done, where are we heading?. Proposed 2013-14 General Fund budget amendment - Review of June adoption, summary of changes since June. Future Years Budget Forecast

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2013 14 amended budget

2013-14 Amended Budget

East Grand Rapids Public Schools


Discussion topics
Discussion Topics

Budget History – Where have we been, what have we done, where are we heading?

Proposed 2013-14 General Fund budget amendment

- Review of June adoption, summary of changes since June

Future Years Budget Forecast

- Forecast assumptions, potential variances

Revenue & Expense Trends: What has driven our budget, what will drive our budget?

2014-15 General Fund Budget Development Process

Proposed 2013-14 Sinking Fund amendment and long range plan



Amended budget change in revenues
Amended Budget – Change in revenues

  • $42,435 increase from June

    • State Funding: $91,866

      • Higher than expected Section 147 a & c offset funding

      • Actual student FTE count at 2,995 vs. 3,000 budget in June

    • County Act 18 funding: ($40,642)

    • Others: ($8,789)


Amended budget change in expenses
Amended Budget – Change in expenses

  • $103,044 increase from June

    • Budget for the study of new programs: $56,000

      • Expenses covered by reserved fund balance

    • Operational expense increase: $47,044

      • Building/Department budget carryover: $60,583

      • Others: ($13,539)





Where are we heading
Where are we heading?

Budget Assumptions

Further retirement reform?

What will the legislature do?

Revenue Assumptions:

Expense assumptions:

  • No increase in per pupil funding for all forecast years

    • Addt’l. SAF money absorbed by MPSERS for several years?

  • No Best Practices or Performance grant funding

    • $92/pupil in 2013-14

  • 3,000 student FTE’s

    • 259 seniors this year, a little larger than normal

  • No EGR Now funds in future years forecast

  • No base salary scale increases

  • Step increases included (1.8%)

  • 3% health care annual increase

  • Retirement rate (Net)

    • 2013-14: 24.79%

    • 2014-15: 25.87%

    • 2015-16: 26.00%

    • 2016-17: 26.00%

  • All other operational expenses held flat



What has driven our budget
What has driven our budget?

State Funding

Salaries

Health Insurance

Retirement

* State Funding includes Federal Stimulus from 2008-09 to 2011-12


What will drive budget in future
What will drive budget in future?

State Tax Collections:

- SAF $215 million ahead of May estimate as of October

- Does SAF growth continue?

- Improved job market in Michigan

Legislative Decisions:

- How is additional SAF money allocated?

- How is K-12 prioritized in budget process?

- Election year for Governor

- More MPSERS reform?

Compensation:

- Health and retirement costs under better control

- Based on all other factors, what salary/wage structure can be afforded?

Current StructuralDeficit per pupil: $108

2014-15 Cost Increases:

- Step Increase: $375,000

- 3% Health increase: $80,000

- Retirement: $185,000

- Total: $635,000

- Per Pupil Increase: $212


2014 15 budget development process
2014-15 Budget Development Process

- Now until mid-February:

* Monitor budget assumptions

- Mid-February:

* Begin process after Governor’s budget proposal

- Collaborative Process:

* Involve administration, staff, community

- Future budget decisions will require tough decisions

about academic programs and significant

restructuring

- Recommend that collaborative process review and

provide comment on potential solutions that have

been already thought through and priced



Long term sinking fund plan
Long Term Sinking Fund Plan

Through 2020-21

In the event there was no additional capital funds raised through a bond issue, district has a long range plan to maintain facilities with its sinking fund

10 year sinking fund millage expires in 2016 and will need to be renewed to continue funding

Major building needs over next several years are listed in ovals to right

Sinking fund not yet eligible for technology or bus purchases

Long term plan is sustainable and cover major items