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2013-2014 Preliminary Budget Projections

2013-2014 Preliminary Budget Projections. March 25, 2013. What Will Be Covered Tonight?. Update on state legislature and public school funding Update on 2012-2013 Budget 2013-2014 Preliminary Budget Projections. Update on State Legislature and Public School Funding.

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2013-2014 Preliminary Budget Projections

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  1. 2013-2014 Preliminary Budget Projections March 25, 2013

  2. What Will Be Covered Tonight? • Update on state legislature and public school funding • Update on 2012-2013 Budget • 2013-2014 Preliminary Budget Projections

  3. Update on State Legislature and Public School Funding State projection: $8.8B surplus by 8/31 Senate Bill 1 introduced - $1.5B Lockhart ISD – possible $690K House Bill 1 - $2.5B No new Instructional Facilities Allotment Direction of 2013-2015 final state budget?

  4. 2012-2013 Average Daily Attendance (ADA) • 2011-2012 final ADA 4,420 • 2012-2013 budgeted ADA 4,509 • 2012-2013 year to date ADA (as of 3/4/13)4,568 • (increase of 59 ADA over budget) • (increase of 148 ADA over last year’s actual) • Subject to change throughout the year (usually decreases) • Possible increase in General Fund revenues of $265 K • (Increase contingent upon continued ADA levels) • Hired 3 teachers at $150 K + classroom supplies of $7,500 + Instructional improvements/support of $63K = $221K • Increased revenues of $265 – additional costs $221K = $44K

  5. Budget Assumptions Through 2014 • No new money • More students = more revenues • Balanced budget • Projections: • 2.5% property values increase (No impact on total LISD revenues) • 3.5% ADA increase

  6. Sequestration of Federal FundsPossible for 2013-2014 • Approximately 5.1% reduction -reduces federal budget deficit • Effective date of 3/1/13 at the federal level • Possibly affects 2013-2014 school funds • Possible reduction of approximately $165K for LISD • LISD evaluating options • Reduce federal expenditures • Absorb federal expenditures in General Fund

  7. TRS Active Care Premium Increase for 2013-2014 • Active Care 2 increase: $69 per month/$828 per year • Estimated cost of $439,668 • General Fund $373,718 • Special Revenue Funds $65,950 • General Fund cost possibly higher due to sequestration • Options? • Do nothing (employee absorbs cost) • LISD increases employer contribution • Cost sharing (employee + LISD share the increase)

  8. 2013-2014 Requests for Capital Outlay and Facilities Improvements • 2012-2013 Budget savings redirected to purchase 2013-2014 capital outlay requests now • Maintenance budget fulfilling facilities improvement requests

  9. 2013-2014 Preliminary Budget Projections (Current Law)

  10. Budget Timelines • Budget Updates at Regular meetings: • April 22, 2013 • May 20, 2013 • Special Called Meeting: • June 3, 2013 –– to call a public hearing and approve a tax rate to be published • Regular meetings: • June 24, 2013 – Budget adoption • August or September 2013– adopt tax rate

  11. Questions?

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