2014/ 2015

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UPDATE

First Look November 11, 2013 Budget-to-Budget increase:

General Fund & Lease Rental $300,987 or 3.03%

Unknowns: Health insurance costs Retirement Insurance Utilities State subsidies Federal grants

Goal – to be at or under Act 1 Index of 2.1%

STATUS – GENERAL FUND & LEASE RENTAL

Budget-to-budget increase $208,193 or 2.1%

2014/15 2013/14 $ %

General Fund $8,677,407 $8,470,459

$206,948

2.44%

Authority Lease

$1,468,364 $1,467,119

$1,245 0.08%

Total Expenditures

$10,145,771

$9,937,578

$208,193

2.1%

ASSUMPTIONS Teachers’ Salaries – per contract

Administrators, Instructional Assistants and Support Staff – used 3% increase on 2013/14 pay rates

Medical & Prescription benefit cost – 5.2% decrease based on second look

PSERS pension cost increases to 21.4% from 16.93% of eligible payroll

Other items – lowered advertising, printing, & supplies lines. Utilities level with 2013/14

COMPONENTS OF INCREASE

Net increase salaries & wages $ 61,566

Net decrease health insurance & contract benefits (36,353)

Increase on account of employer’s PSERS rate growth 209,093

Net decrease in program supplies (26,015)

Net increase in non-instructional supplies 11,350

Net decrease all others (12,693)

Total $206,948

GENERAL FUND – RECEIPTS FROM MEMBER SCHOOL DISTRICTS

2014/15 2013/14 $Change

%Change

General Fund $7,286,372

$7,190,719

$95,653 1.33%

Authority Lease

$1,468,364

$1,467,119

$ 1,245 0.08%

Total Expenditures

$8,754,736

$8,657,838

$96,898

1.12%

OTHER REVENUE

2014/2015

2013/2014

$Change

%Change

Other Local $88,550 $95,300 -$ 6,750 -7.08%

State $1,025,400

$898,000 $127,400 14.19%

Federal $277,085 $286,440 -$ 9,355 -3.27%

Total $1,391,035

$1,279,740

$111,295 8.70%

STATE & FEDERAL REVENUEState Subsidies - Increase Vocational

Educational, Social Security and Retirement Subsidies Total state $1,025,400 vs. $893,000

Decrease Federal funding for Carl D. Perkins Grant Projected for 2013/2014 = $286,440 Actual received 2013/2014 = $277,085 Federal coordinator recommended same as

2013/2014 funding

OTHER BUDGETS

Capital Reserve FundFunded at discretion of Executive Council using unspent current year budget contribution – proposed $125,000

Funds to be used for acquisition of program equipment, capital repairs and maintenance to facilities

Traffic signal $30,000Digital road sign $35,000Concrete walkway & stairs $25,000Transformer replacement $150,000Equipment matching funds $50,000

OTHER BUDGETS

Adult Education $157,520 vs. $155,195 Fall & Spring Evening Programs Industry Specific Training

Production Fund $316,408 vs. $326,619 Live work Student Built Modular House Aspirations Salon Extreme Student fees MBIT Summer School Consortium Summer Enrichment Camp

OTHER BUDGETS – PROPRIETARY & FIDUCIARYProprietaryLi’l Bucks Partners in Learning Childcare Center Educational Programs for Toddlers & Preschool

Children

FiduciaryStudent Activities Fund - CTSO

Skills USA HOSA FFA PBA

NEXT STEP

Finalize General Fund & Lease Rental BudgetMarch 10, 2014 Executive Council Meeting

Finalize Other BudgetsMarch 10, 2014 Executive Council Meeting

Questions