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2019-2020 Proposed Operating Budget February 26, 2019

This proposed budget outlines financial challenges, revenue sources, expenses, personnel, and capital investments.

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2019-2020 Proposed Operating Budget February 26, 2019

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  1. 2019-2020 Proposed Operating Budget February 26, 2019

  2. Opening Remarks • 2017-2018 was met with significant financial challenges • Revenue from state grants, contracts = 13%, was as high as 75% in the past • Our non-discretionary costs equal approximately 81% of our operating budget • Our health insurance renewal rate is estimated to be between 11% and 18% • We will receive less funding from state sources (magnet school tuition etc.) • We are experiencing unsustainable turnover rates in some employee groups

  3. Opening Remarks • Everyone in the Agency has the license to innovate and create new programs • We need a well organized marketing campaign to develop new business • We need to be a presence in our region and beyond • Collectively, we have the strength to overcome the challenges of today

  4. General Fund – Fund Balance Roll-Forward Note: 6/30/18 General Fund balance of $4,527,855 = 14.2% of the FY19/20 Operating Expense Budget

  5. Operating Budget Revenue Summary

  6. Local Program Revenue – FY19/20 Budget

  7. Operating Budget Revenue Summary

  8. Projected Grant Budget

  9. Projected Grant Budget

  10. Projected Grant Budget

  11. Proposed Operating Budget Expenses Summary

  12. Proposed Operating Budget Expenses Summary

  13. Local Program Projected Expenses 2019-2020

  14. Personnel Summary • Salary costs shown reflect the gross wages paid to each employee in the program based on current and anticipated positions and include the application of the following: • 3.0% Federation Of Teachers Gross Wage Increase • 1.5% Federation Of Educational Personnel (Instructional Assistants) Gross Wage Increase • 2.65% Federation Of Instructors Gross Wage Increase • 2.0% Non-Bargaining Unit Personnel Gross Wage Increase • Extra Duty Assignments and Overtime Costs • Grant funded student help (Job #2601) are not included. Local budget funded work study students (Job #2602) are included. • Benefit costs shown includes the following budgeted employer costs: • Health (Medical, Dental, Vision) (F= $13,970; I=$6,930) • FICA (6.2% FICA + 1.45% MFICA = 7.65%) • Retirement (5% if Participating) • Unemployment Compensation (.5%) • Workers’ Compensation (Drivers – 3.24%; Custodial/Security – 1.44%; Others - .23%)

  15. Teachers’ Contract Rate Increases

  16. Teachers’ Contract Rate Increases

  17. Personnel Summary

  18. Personnel Summary

  19. Personnel Summary

  20. Personnel Summary

  21. Proposed Capital Expense Budget FY2019-2020

  22. Proposed Site/Investment Acquisition PlansStrategic Purpose: To selectively invest in sites offering the optimal use of financial resources. • Establish site for the development of an Alternative Education Program in the greater Windham region. Current Consideration: Plan on acquiring the former Path Academy building on Main Street in Willimantic. May involve entering into a lease with an option to purchase. • Purchase the Westcott Road site in Danielson which is currently leased and accommodates Adult Education and Head Start Program. Current Consideration: Develop a purchase/finance agreement whereby the annual mortgage payment would be equal to the current annual lease payment. • Establish permanent facility for the Transportation Program. Current Consideration: Looking to acquire an existing facility that is geographically positioned within the agency’s primary service area, and also accommodates program operations. Purchase of land which is suitable to build upon is also an option. Financing would be structured to maintain annual payments similar to the existing lease. • Establish a regional sports facility Current Consideration: To acquire land which is suitable for creating a relatively low-cost sports facility, which would operate 24/7, offering sporting opportunities to regional communities. Note: Each site proposal will be analyzed within program parameters, as appropriate. Financing will be secured in accordance with the agency’s overall cash flow plan, to balance debt and operating cash.

  23. Fiduciary Funds Budget-FY 2018-2019 • Eastern Connecticut Insurance Program (ECHIP) $32,054,131 • CT-CHIP

  24. 2019-2020 Proposed Budget Summary RemarksThis is an “Investment Budget” necessary to advance the AgencyIt requires diversification of programs and servicesIt responds to the needs of our member districtsThis proposed budget demonstrates an unwavering commitment to the vision for EASTCONN and the relationships associated with its successIt incorporates elements of shared services, regional service model and regionalism.

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