Annual Budget Fiscal Year 2014

1

Annual BudgetFiscal Year 2014

Jason W. Taylor

September 5, 2013

2

`ACTUAL BUDGET $ VAR % BUDGET

-------------- -------------- -------------- --------------

REVENUES

STATE REVENUES $ 108,078,774 $ 107,908,979 $ 169,795 0.1%

FEDERAL REVENUES 845,251 1,422,767 (577,516) -0.3%

LOCAL REVENUES 96,243,298 92,987,042 3,256,256 1.6%

OTHER REVENUES 371,957 10,000 361,957 0.2%

TOTAL REVENUES 205,539,280 202,328,788 3,210,492 1.6%

EXPENDITURES:

INSTRUCTIONAL SERVICES 121,540,151 119,636,495 (1,903,656) -1.0%

INSTRUCTIONAL SUPPORT SERVICES 30,241,415 35,237,781 4,996,366 2.5%

OPERATIONS & MAINTENANCE 24,359,609 23,324,132 (1,035,476) -0.5%

AUXILIARY SERVICES 5,899,051 6,370,789 471,738 0.2%

GENERAL ADMINISTRATIVE SERVICES 11,214,224 7,418,853 (3,795,371) -1.9%

DEBT SERVICES 1,227,753 1,227,753 - 0.0%

OTHER EXPENDITURES 1,957,572 5,236,836 3,279,264 1.7%

TOTAL EXPENDITURES 196,439,775 198,452,640 2,012,865 1.0%

OTHER FUND SOURCES (USES):

TRANSFERS IN 323,193 - 323,193 34.1%

OTHER FUND SOURCES 1,908,749 2,149,033 (240,284) -25.3%

TRANSFERS OUT 1,500,132 3,098,053 1,597,922 168.4%

TOTAL OTHER FUND SOURCES (USES) 731,810 (949,020) 1,680,831 177.1%

EXCESS REVENUES & OTHER SOURCES

OVER(UNDER)EXPENDITURES & OTHER FUND USES 9,831,316 2,927,128 6,904,188 235.9%

BEGINNING FUND BALANCE 844,421 844,421 -

ENDING FUND BALANCE $ 10,675,737 $ 3,771,549 $ 6,904,188 183.1%

RESERVED FUND BALANCE (ENDING) 1,625,597.38 - 1,625,597 43.1%

UNRESERVED FUND BALANCE (ENDING) 9,050,139.77 3,771,549.09 5,278,591 140.0%

10,675,737.15 3,771,549.09 6,904,188 183.1%

REQUIRED FUND BALANCE (ALSDE) 16,369,981.23 16,369,981.23

% COVERAGE OF REQUIRED FUND BALANCE 55.3% 23.0% 32.2%

Fiscal Year 2014 Budget (Proposed)

FIDUCIARYSPECIAL DEBT CAPITAL EXPENDABLE TOTAL

GENERAL REVENUE SERVICE PROJECTS TRUST (Memo Only)

REVENUES STATE REVENUES 108,196,347$ 1,097,897$ -$ 72,869,976$ -$ 182,164,220$ FEDERAL REVENUES 676,885 24,212,718 - - - 24,889,603 LOCAL REVENUES 93,112,935 9,326,211 - 2,101,865 397,500 104,938,511 OTHER REVENUES - 250,000 - - - 250,000

TOTAL REVENUES 201,986,167 34,886,826 - 74,971,841 397,500 312,242,334

EXPENDITURES: INSTRUCTIONAL SERVICES 117,299,607 11,683,598 - 900,000 147,870 130,031,075 INSTRUCTIONAL SUPPORT SERVICES 35,656,744 7,950,689 - - 186,257 43,793,690 OPERATIONS & MAINTENANCE 25,916,807 755,100 - 740,000 - 27,411,907 AUXILIARY SERVICES 7,367,986 12,028,367 - - - 19,396,353 GENERAL ADMINISTRATIVE SERVICES 7,286,360 949,391 - - - 8,235,751 CAPITAL OUTLAY 400,000 - - 85,825,000 - 86,225,000 DEBT SERVICES - - 3,661,263 6,959,509 - 10,620,772 OTHER EXPENDITURES 3,168,629 1,576,770 - - 9,500 4,754,899

TOTAL EXPENDITURES 197,096,133 34,943,915 3,661,263 94,424,509 343,627 330,469,447

OTHER FUND SOURCES (USES): OTHER FUND SOURCES 2,989,113 2,314,644 7,564,503 - - 12,868,260 OTHER FUND USES 7,879,147 2,000,000 - - - 9,879,147

TOTAL OTHER FUND SOURCES (USES) (4,890,034) 314,644 7,564,503 - - 2,989,113

EXCESS REVENUES & OTHER SOURCESOVER (UNDER) EXPENDITURES & OTHER FUND USES - 257,555 3,903,240 (19,452,668) 53,873 (15,238,000)

BEGINNING FUND BALANCE - OCT 1 17,900,000 7,056,969 3,250,000 40,000,000 330,386 68,537,355

ENDING FUND BALANCE - SEP 30 17,900,000$ 7,314,524$ 7,153,240$ 20,547,332$ 384,259$ 53,299,355$

GOVERNMENTAL

3

ACTUAL BUDGET $ VAR % BUDGET

-------------- -------------- -------------- --------------

REVENUES

STATE REVENUES $ 108,078,774 $ 107,908,979 $ 169,795 0.1%

FEDERAL REVENUES 845,251 1,422,767 (577,516) -0.3%

LOCAL REVENUES 96,243,298 92,987,042 3,256,256 1.6%

OTHER REVENUES 371,957 10,000 361,957 0.2%

TOTAL REVENUES 205,539,280 202,328,788 3,210,492 1.6%

EXPENDITURES:

INSTRUCTIONAL SERVICES 121,540,151 119,636,495 (1,903,656) -1.0%

INSTRUCTIONAL SUPPORT SERVICES 30,241,415 35,237,781 4,996,366 2.5%

OPERATIONS & MAINTENANCE 24,359,609 23,324,132 (1,035,476) -0.5%

AUXILIARY SERVICES 5,899,051 6,370,789 471,738 0.2%

GENERAL ADMINISTRATIVE SERVICES 11,214,224 7,418,853 (3,795,371) -1.9%

DEBT SERVICES 1,227,753 1,227,753 - 0.0%

OTHER EXPENDITURES 1,957,572 5,236,836 3,279,264 1.7%

TOTAL EXPENDITURES 196,439,775 198,452,640 2,012,865 1.0%

OTHER FUND SOURCES (USES):

TRANSFERS IN 323,193 - 323,193 34.1%

OTHER FUND SOURCES 1,908,749 2,149,033 (240,284) -25.3%

TRANSFERS OUT 1,500,132 3,098,053 1,597,922 168.4%

TOTAL OTHER FUND SOURCES (USES) 731,810 (949,020) 1,680,831 177.1%


OVER(UNDER)EXPENDITURES & OTHER FUND USES 9,831,316 2,927,128 6,904,188 235.9%

BEGINNING FUND BALANCE 844,421 844,421 -

ENDING FUND BALANCE $ 10,675,737 $ 3,771,549 $ 6,904,188 183.1%

RESERVED FUND BALANCE (ENDING) 1,625,597.38 - 1,625,597 43.1%

UNRESERVED FUND BALANCE (ENDING) 9,050,139.77 3,771,549.09 5,278,591 140.0%

10,675,737.15 3,771,549.09 6,904,188 183.1%

REQUIRED FUND BALANCE (ALSDE) 16,369,981.23 16,369,981.23

% COVERAGE OF REQUIRED FUND BALANCE 55.3% 23.0% 32.2%

General Fund Activity Fiscal Year 2014 vs. 2013

FY 2014 BUDGETFY 2013 BUDGET

(AMENDED) $ VAR % VAR

REVENUES STATE REVENUES 108,196,347$ 52.8% 106,839,479$ 49.7% 1,356,868$ 1.3% FEDERAL REVENUES 676,885 0.3% 1,570,788 0.7% (893,903) -56.9% LOCAL REVENUES 93,112,935 45.4% 101,695,037 47.3% (8,582,102) -8.4%

OTHER REVENUES 2,989,113 1.5% 5,062,433 2.4% (2,073,320) -41.0%

TOTAL REVENUES 204,975,280 100.0% 215,167,737 100.0% (10,192,457) -4.7%

EXPENDITURES: INSTRUCTIONAL SERVICES 152,956,351 74.6% 154,398,872 74.3% (1,442,521) -0.9% OPERATIONS & MAINTENANCE 25,916,807 12.6% 27,069,245 13.0% (1,152,438) -4.3% AUXILIARY SERVICES 7,367,986 3.6% 6,937,393 3.3% 430,593 6.2% GENERAL ADMINISTRATIVE SERVICES 7,286,360 3.6% 11,576,989 5.6% (4,290,629) -37.1% DEBT SERVICES - 0.0% 1,263,878 0.6% (1,263,878) -100.0%

OTHER EXPENDITURES 11,447,776 5.6% 6,674,845 3.2% 4,772,931 71.5%

TOTAL EXPENDITURES 204,975,280 100.0% 207,921,222 100.0% (2,945,942) -1.4%


OVER(UNDER) EXPENDITURES & OTHER FUND USES - 7,246,515 (7,246,515) -100.0%

BEGINNING FUND BALANCE 17,900,000 10,671,591 7,228,409

ENDING FUND BALANCE 17,900,000$ 17,918,106$ (18,106)$ -0.1%

% COVERAGE OF REQUIRED FUND BALANCE 109% 109% 0%

4

Revenue/ExpendituresAs % of Total Revenues

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

GENERAL FUND SPECIALREVENUE FUND

DEBT SERVICEFUND

CAPITALPROJECTS

FUND

OTHERREVENUES

63.0%

11.4%

2.3%

23.1%

0.1%

63.0%

11.4%

1.1%

29.0%

0.1%

Exp

endi

ture

s

Rev

enue

s

5

Sales

FederalStateLocalOther

Sales

StateFederalLocalOther

Revenues (by Source) *

* Percentage allocations are presented net of capital bond proceeds (~$68,000,000) in order to normalize the revenue allocation between funding sources.

$114,151,888

$24,889,603

$104,938,511

$250,000

STATE REVENUES - 46.7%

FEDERAL REVENUES - 10.2%

LOCAL REVENUES - 43.0%

OTHER REVENUES - 0.1%

6

Sales


Sales


Expenditures (by Function) *

* Percentage allocations are presented net of capital construction outlay (~$86,225,000) in order to normalize true direction of District expenditures.

$173,824,765

$27,411,907

$19,396,353

$8,235,751 $15,375,671

INSTRUCTIONAL - 71.2%

OPS & MAINT - 11.2%

AUXILIARY - 7.9%

GEN & ADMIN - 3.4%

OTHER USES - 6.3%

7

EXHIBIT F-I-A

FUND TYPES & ACCOUNT GROUPS GOVERNMENTAL PROPRIETARY FIDUCIARY ACCT GROUPS

SPECIAL DEBT CAPITAL ENTERPRISE TRUST & F/A &

DESCRIPTION GENERAL REVENUE SERVICE PROJECTS INTERNAL AGENCY L/T DEBT

-------------------------------------- -------------- -------------- -------------- -------------- -------------- -------------- --------------

ASSETS & OTHER DEBITS:

CASH & CASH EQUIVALENTS 9,770,165.15 9,733,973.38 4,500.26 64,873,420.93 0.00 529,508.68 0.00

INVESTMENTS 2,094.75 0.00 0.00 0.00 0.00 0.00 0.00

RECEIVABLES

ALLOWANCE FOR DOUBTFUL ACCTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00

INTERFUND RECEIVABLES 1,500,000.00 0.00 0.00 0.00 0.00 0.00 0.00

OTHER RECEIVABLES 5,321,734.39 4,111,162.47 0.00 0.00 0.00 730.39 0.00

INVENTORIES 0.00 316,421.31 0.00 0.00 0.00 0.00 0.00

OTHER ASSETS 0.00 0.00 0.00 0.00 0.00 0.00 0.00

FIXED ASSETS 0.00 0.00 0.00 0.00 0.00 0.00 475,653,053.75

ACCUMULATED DEPRECIATION 0.00 0.00 0.00 0.00 0.00 0.00 0.00

OTHER DEBITS

AMT AVAILABLE IN DEBT SVC 0.00 0.00 0.00 0.00 0.00 0.00 0.00

AMT PROV FOR PMT OF L-T DEBT 0.00 0.00 0.00 0.00 0.00 0.00 27,802,277.77

OTHER DEBITS 0.00 0.00 0.00 0.00 0.00 0.00 0.00

TOTAL ASSETS & OTHER DEBITS 16,593,994.29 14,161,557.16 4,500.26 64,873,420.93 0.00 530,239.07 503,455,331.52

LIABILITIES & FUND EQUITY:

LIABILITIES:

SALARIES & BENEFITS PAYABLE 274,082.01 0.00 0.00 0.00 0.00 0.00 0.00

PAYROLL W/H & DED PAYABLE 0.00 0.00 0.00 0.00 0.00 56,931.71 0.00

CLAIMS PAYABLE 18,950.00 5,362.88 0.00 0.00 0.00 0.00 0.00

OTHER PAYABLES

INTERFUND PAYABLES 0.00 1,500,000.00 0.00 0.00 0.00 0.00 0.00

OTHER PAYABLES 3,491,350.69 53,425.10 0.00 0.00 0.00 0.00 0.00

OTHER LIABILITIES 0.00 1,855,799.78 0.00 0.00 0.00 0.00 0.00

LONG-TERM LIABILITIES 2,133,874.44 0.00 0.00 0.00 0.00 0.00 27,802,277.77

TOTAL LIABILITIES 5,918,257.14 3,414,587.76 0.00 0.00 0.00 56,931.71 27,802,277.77

FUND EQUITY:

INVESTMENT IN FIXED ASSETS 0.00 0.00 0.00 0.00 0.00 0.00 475,653,053.75

RETAINED EARNINGS 0.00 0.00 0.00 0.00 0.00 0.00 0.00

CONTRIBUTED CAPITAL 0.00 0.00 0.00 0.00 0.00 0.00 0.00

RESERVED FUND BALANCE 1,625,597.38 485,435.30 0.00 1,854,033.30 0.00 0.00 0.00

UNRESERVED FUND BALANCE 9,050,139.77 10,261,534.10 4,500.26 63,019,387.63 0.00 473,307.36 0.00

TOTAL FUND EQUITY 10,675,737.15 10,746,969.40 4,500.26 64,873,420.93 0.00 473,307.36 475,653,053.75

TOTAL LIABILITIES & FUND EQUITY 16,593,994.29 14,161,557.16 4,500.26 64,873,420.93 0.00 530,239.07 503,455,331.52

EXHIBIT F-I-AFUND TYPES & ACCOUNT GROUPS GOVERNMENTAL PROPRIETARY FIDUCIARY ACCT GROUPS

SPECIAL DEBT CAPITAL ENTERPRISE TRUST & F/A & DESCRIPTION GENERAL REVENUE SERVICE PROJECTS INTERNAL AGENCY L/T DEBT

-------------------------------------- -------------- -------------- -------------- -------------- -------------- -------------- --------------ASSETS & OTHER DEBITS: CASH & CASH EQUIVALENTS 9,770,165.15 9,733,973.38 4,500.26 64,873,420.93 0.00 529,508.68 0.00 INVESTMENTS 2,094.75 0.00 0.00 0.00 0.00 0.00 0.00 RECEIVABLES ALLOWANCE FOR DOUBTFUL ACCTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 INTERFUND RECEIVABLES 1,500,000.00 0.00 0.00 0.00 0.00 0.00 0.00 OTHER RECEIVABLES 5,321,734.39 4,111,162.47 0.00 0.00 0.00 730.39 0.00 INVENTORIES 0.00 316,421.31 0.00 0.00 0.00 0.00 0.00 OTHER ASSETS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 FIXED ASSETS 0.00 0.00 0.00 0.00 0.00 0.00 475,653,053.75 ACCUMULATED DEPRECIATION 0.00 0.00 0.00 0.00 0.00 0.00 0.00 OTHER DEBITS AMT AVAILABLE IN DEBT SVC 0.00 0.00 0.00 0.00 0.00 0.00 0.00 AMT PROV FOR PMT OF L-T DEBT 0.00 0.00 0.00 0.00 0.00 0.00 27,802,277.77 OTHER DEBITS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 TOTAL ASSETS & OTHER DEBITS 16,593,994.29 14,161,557.16 4,500.26 64,873,420.93 0.00 530,239.07 503,455,331.52

LIABILITIES & FUND EQUITY: LIABILITIES: SALARIES & BENEFITS PAYABLE 274,082.01 0.00 0.00 0.00 0.00 0.00 0.00 PAYROLL W/H & DED PAYABLE 0.00 0.00 0.00 0.00 0.00 56,931.71 0.00 CLAIMS PAYABLE 18,950.00 5,362.88 0.00 0.00 0.00 0.00 0.00 OTHER PAYABLES INTERFUND PAYABLES 0.00 1,500,000.00 0.00 0.00 0.00 0.00 0.00 OTHER PAYABLES 3,491,350.69 53,425.10 0.00 0.00 0.00 0.00 0.00 OTHER LIABILITIES 0.00 1,855,799.78 0.00 0.00 0.00 0.00 0.00 LONG-TERM LIABILITIES 2,133,874.44 0.00 0.00 0.00 0.00 0.00 27,802,277.77 TOTAL LIABILITIES 5,918,257.14 3,414,587.76 0.00 0.00 0.00 56,931.71 27,802,277.77

FUND EQUITY: INVESTMENT IN FIXED ASSETS 0.00 0.00 0.00 0.00 0.00 0.00 475,653,053.75 RETAINED EARNINGS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 CONTRIBUTED CAPITAL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 RESERVED FUND BALANCE 1,625,597.38 485,435.30 0.00 1,854,033.30 0.00 0.00 0.00 UNRESERVED FUND BALANCE 9,050,139.77 10,261,534.10 4,500.26 63,019,387.63 0.00 473,307.36 0.00 TOTAL FUND EQUITY 10,675,737.15 10,746,969.40 4,500.26 64,873,420.93 0.00 473,307.36 475,653,053.75


Fiscal Year 2014 Special Initiatives

PRE-KINDERGARTEN PROGRAMS 700,000$

STEM PROGRAMS 900,000

ELL PROGRAMS 150,000

COLUMBIA STAGE LIGHTING/SOUND 400,000

ENHANCED SUPPLEMENTS* 340,000

TOTAL REVENUES 2,490,000$

Huntsville City Schools SupplementsPurpose

• Attract and retain HCS faculty/staff to participate in extracurricular academic and character development activities to further promote our students to higher levels of mental and physical performance and personal growth to help them succeed in life.

Huntsville City Schools SupplementsOverview

• Supplements are given at the discretion of the district• Governed by HCS Policy 5.4, Supplemental Duties• By appointment at district level (with principal input)• NOT an entitlement or guaranteed by tenure• Assignments to be made and approved on an annual basis• May be removed or resign from supplemental (i.e.,

coaching) position at any time

Huntsville City Schools SupplementsOverview

• Regardless of whether they are certified or classified employees or non-HCS employees, athletic and academic coaches will receive the same supplement amount

• With the exception of classified employees whose job duties are substantially similar to their coaching duties, classified athletic and academic coaches are considered “volunteers” • Volunteer coaches will not receive overtime for any of the

volunteer activities performed in their coaching capacity

Huntsville City Schools SupplementsExamples

• Academic: Academic Competition; Math Team; National Honor Society; Science Team; Career Tech; Debate; Foreign Language; Robotics; Cyber Security, etc.

• Athletics: High School/Middle School Athletic Directors; Head/Assistant Coaches (Football, Basketball, Baseball, Cheerleading, Wrestling, etc.)

• Arts: Band Directors/Assistants; Choral; Art Club; Drama; Newspaper/Journalism; Literary Publications

• Community: Junior/Senior Class; Service Clubs; Student Council; Yearbook; Webmaster; Safety Coordinator

Huntsville City Schools Supplements• New Supplements:

• High School/Middle School Athletics Directors: Oversee all athletics programs for the school; will also manage their school’s supplement program (with the exception of their own)

• Career Tech: Regional/ International-level performance teams (Green Car Team/Culinary Arts)

• IB Coordinators (moved from principal’s books)• Cyber Security• Robotics• Student to Student• STEM Coordinators• School Webmasters• School Safety Coordinators• District Scholarship Coordinator

• Deleted: Credit Recovery Coordinator

Huntsville City Schools SupplementsRate Changes

• Increase in Current Supplements• All will see an increase• Rates will meet or exceed those paid in Madison City

and Madison County for comparable duties• Larger supplement increases will be “stepped”• Last year’s (2012-2013) rate will be Step 1• Those in second year or more will receive Step 2• Increase each year to Step 4

• Effective Date: 2014 Budget Year (Oct 1, 2013)

Huntsville City Schools SupplementsExamples (Not All Inclusive)

Program School LevelMadison County

Madison City

Huntsville City Schools

Athletic Director High School $ - $4,000 $4,000

Band (Head) High School $6,000 $8,000 $8,500

Baseball (Head) High School $4,700 $6,000 $6,025

Basketball (Head) High School $8,000 $9,000 $9,025

Career Readiness High School $ - $ - $3500 - $8500

Competitive Academic Team High School $1,000 $1,800 $2,200

Cross Country Boys and Girls High School $600 $1,500 $1,500

Cyber Security High School $ - $ - $1,000 - $5,000

Football (Head) High School $8,000 $10,000 $13,000

Football Assistant OC/DC High School $4,500 $6,250 $6,250

Football Assistant High School $3,200 $5,000 $5,000

Robotics High School $ - $ - $1,000 - $5000

STEM Coordinator High School $ - $ - $2,000

Service Clubs High School $ - $200 $250

Huntsville City Schools SupplementsExamples (Not All Inclusive)

Program School LevelMadison County

Madison City

Huntsville City Schools

Webmaster K-12 $ - $ - $1,000 - $2000Artist Director Choreographic Magnet $ - $ - $6,000 Artist Director Ensemble Production Magnet $ - $ - $6,000 Artist Director Orchestra Magnet $ - $ - $6,000 Artist Director Vocal Magnet $ - $ - $6,000 Band Middle School $ - $2,400 $3,850 Cheerleaders Middle School $ - $1,800 $1,870 Choral Middle School $ - $900 $1,320 Football (Head) Middle School $ - $4,000 $4,400 IB Coordinator Middle School $ - $ - $4,000 STEM Coordinator Middle School $ - $ - $2,000 Academic Competition Coordinator Other $ - $ - $6,050 Scholarship Coordinator Other $ - $ - $1,000 School Safety Coordinator Other $ - $ - $275

17

EXHIBIT F-I-A




-------------------------------------- -------------- -------------- -------------- -------------- -------------- -------------- --------------



INVESTMENTS 2,094.75 0.00 0.00 0.00 0.00 0.00 0.00

RECEIVABLES




INVENTORIES 0.00 316,421.31 0.00 0.00 0.00 0.00 0.00

OTHER ASSETS 0.00 0.00 0.00 0.00 0.00 0.00 0.00

FIXED ASSETS 0.00 0.00 0.00 0.00 0.00 0.00 475,653,053.75


OTHER DEBITS



OTHER DEBITS 0.00 0.00 0.00 0.00 0.00 0.00 0.00



LIABILITIES:



CLAIMS PAYABLE 18,950.00 5,362.88 0.00 0.00 0.00 0.00 0.00

OTHER PAYABLES


OTHER PAYABLES 3,491,350.69 53,425.10 0.00 0.00 0.00 0.00 0.00




FUND EQUITY:














Fiscal Year 2014 Capital Projects

-

10,000,000

20,000,000

30,000,000

40,000,000

50,000,000

60,000,000

70,000,000

Grissom High School North Huntsville HighSchool

Huntsville HS 9thGrade Academy

Whitesburg P-8 University Place ElemSchool

Milton Frank - Phase II

FY 2014 Budget Total Program Budget

18

Sales


Sales


Fund Balance Historical/Projected

$485,806

$(19,766,842)

$844,421

$10,675,737

$17,900,000

$(25,000,000)

$(20,000,000)

$(15,000,000)

$(10,000,000)

$(5,000,000)

$-

$5,000,000

$10,000,000

$15,000,000

$20,000,000

2009 2010 2011 2012 2013

Fund Balance

19

Sales


Sales


Fund Balance Coverage Historical/Projected

2.9%

-119.8%

5.1%

64.7%

108.5%

-150.0%

-100.0%

-50.0%

0.0%

50.0%

100.0%

150.0%

2009 2010 2011 2012 2013

20

EXHIBIT F-I-A




-------------------------------------- -------------- -------------- -------------- -------------- -------------- -------------- --------------



INVESTMENTS 2,094.75 0.00 0.00 0.00 0.00 0.00 0.00

RECEIVABLES




INVENTORIES 0.00 316,421.31 0.00 0.00 0.00 0.00 0.00

OTHER ASSETS 0.00 0.00 0.00 0.00 0.00 0.00 0.00

FIXED ASSETS 0.00 0.00 0.00 0.00 0.00 0.00 475,653,053.75


OTHER DEBITS



OTHER DEBITS 0.00 0.00 0.00 0.00 0.00 0.00 0.00



LIABILITIES:



CLAIMS PAYABLE 18,950.00 5,362.88 0.00 0.00 0.00 0.00 0.00

OTHER PAYABLES


OTHER PAYABLES 3,491,350.69 53,425.10 0.00 0.00 0.00 0.00 0.00




FUND EQUITY:














Financial Forecast: Fiscal Year 2014

ALSDE Foundation Funding: Education Trust Fund appropriations (~$50M) diverted to fund private school transfer credits (Alabama Accountability Act).

While HCS saw a modest increase in pupil enrollment, there is a decrease in the number funded teaching units (5.7 units, loss of $355,000 in funding).

Although Foundation revenues allocated for fringe benefits and other current expenses increased by $1.5M, so did the required 10 Mill Foundation match (paid from local funds).

21

EXHIBIT F-I-A




-------------------------------------- -------------- -------------- -------------- -------------- -------------- -------------- --------------



INVESTMENTS 2,094.75 0.00 0.00 0.00 0.00 0.00 0.00

RECEIVABLES




INVENTORIES 0.00 316,421.31 0.00 0.00 0.00 0.00 0.00

OTHER ASSETS 0.00 0.00 0.00 0.00 0.00 0.00 0.00

FIXED ASSETS 0.00 0.00 0.00 0.00 0.00 0.00 475,653,053.75


OTHER DEBITS



OTHER DEBITS 0.00 0.00 0.00 0.00 0.00 0.00 0.00



LIABILITIES:



CLAIMS PAYABLE 18,950.00 5,362.88 0.00 0.00 0.00 0.00 0.00

OTHER PAYABLES


OTHER PAYABLES 3,491,350.69 53,425.10 0.00 0.00 0.00 0.00 0.00




FUND EQUITY:














Financial Forecast: Fiscal Year 2014 (cont’d)

$20,000,000

$20,500,000

$21,000,000

$21,500,000

$22,000,000

$22,500,000

$23,000,000

2012 2013 2014

10 Mill Foundation Match

Local Match

18.9% *

19.2% *

20.5% *

* Percentage of total Foundation Revenues

ALSDE Foundation Funding (continued):Meaning…the cost burden for the Foundation units’ salary increase, which will take effect in October 2012, and the 1.73% increase in TRSA match will fall on the District. Total estimated cost of the changes in the Foundation Program to Huntsville City Schools in Fiscal Year 2014 is approximately $2M.

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EXHIBIT F-I-A




-------------------------------------- -------------- -------------- -------------- -------------- -------------- -------------- --------------



INVESTMENTS 2,094.75 0.00 0.00 0.00 0.00 0.00 0.00

RECEIVABLES




INVENTORIES 0.00 316,421.31 0.00 0.00 0.00 0.00 0.00

OTHER ASSETS 0.00 0.00 0.00 0.00 0.00 0.00 0.00

FIXED ASSETS 0.00 0.00 0.00 0.00 0.00 0.00 475,653,053.75


OTHER DEBITS



OTHER DEBITS 0.00 0.00 0.00 0.00 0.00 0.00 0.00



LIABILITIES:



CLAIMS PAYABLE 18,950.00 5,362.88 0.00 0.00 0.00 0.00 0.00

OTHER PAYABLES


OTHER PAYABLES 3,491,350.69 53,425.10 0.00 0.00 0.00 0.00 0.00




FUND EQUITY:














Financial Forecast: Fiscal Year 2014 (cont’d)

USDE Federal Funding: Reduction(s) in 2014 Federal Funding for HCS

Title I, Part A $ 380,000

Title I, Part D $ 127,000

Title I, School Improvement $ 350,000

Title II, Part A $ 553,000

IDEA, Special Education $ 180,000

Total Reduction(s) $ 1,590,000

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EXHIBIT F-I-A




-------------------------------------- -------------- -------------- -------------- -------------- -------------- -------------- --------------



INVESTMENTS 2,094.75 0.00 0.00 0.00 0.00 0.00 0.00

RECEIVABLES




INVENTORIES 0.00 316,421.31 0.00 0.00 0.00 0.00 0.00

OTHER ASSETS 0.00 0.00 0.00 0.00 0.00 0.00 0.00

FIXED ASSETS 0.00 0.00 0.00 0.00 0.00 0.00 475,653,053.75


OTHER DEBITS



OTHER DEBITS 0.00 0.00 0.00 0.00 0.00 0.00 0.00



LIABILITIES:



CLAIMS PAYABLE 18,950.00 5,362.88 0.00 0.00 0.00 0.00 0.00

OTHER PAYABLES


OTHER PAYABLES 3,491,350.69 53,425.10 0.00 0.00 0.00 0.00 0.00




FUND EQUITY:














Financial Forecast: Fiscal Year 2014 (cont’d)Huntsville City/Madison County Funding: Based on current projections, we anticipate sustaining a General Fund balance between 105% and 110% of the required balance through fiscal year 2015 (barring proration or unanticipated decline in the local economy).No solid projection beyond 2015 at this point. Requires that we exercise caution when considering new/future recurring expenditures not otherwise included in this budget.

Regarding Capital Projects :

Anticipate that long term rates on municipal debt are likely to increase in the near term. Will recommend selling of final increment of debt to complete the capital plan this Fall.At current rates, HCS has sufficient capacity to service the cost of additional capital.

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EXHIBIT F-I-A




-------------------------------------- -------------- -------------- -------------- -------------- -------------- -------------- --------------



INVESTMENTS 2,094.75 0.00 0.00 0.00 0.00 0.00 0.00

RECEIVABLES




INVENTORIES 0.00 316,421.31 0.00 0.00 0.00 0.00 0.00

OTHER ASSETS 0.00 0.00 0.00 0.00 0.00 0.00 0.00

FIXED ASSETS 0.00 0.00 0.00 0.00 0.00 0.00 475,653,053.75


OTHER DEBITS



OTHER DEBITS 0.00 0.00 0.00 0.00 0.00 0.00 0.00



LIABILITIES:



CLAIMS PAYABLE 18,950.00 5,362.88 0.00 0.00 0.00 0.00 0.00

OTHER PAYABLES


OTHER PAYABLES 3,491,350.69 53,425.10 0.00 0.00 0.00 0.00 0.00




FUND EQUITY:














QUESTIONS

Annual Budget Fiscal Year 2014

Documents

Transcript of Annual Budget Fiscal Year 2014