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FY2013 Budget Assumptions

FY2013 Budget Assumptions. Park Hill Board Of Education Meeting January 26 , 2012. Budget Cycle. Board Approves the Budget on last meeting in June Fiscal Year Begins July 1. Review Unit Budgets Report to the Board of Education Balance the Budget Project Revenue & Expenditures.

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FY2013 Budget Assumptions

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  1. FY2013 Budget Assumptions Park Hill Board Of Education Meeting January 26, 2012

  2. Budget Cycle Board Approves the Budget on last meeting in June Fiscal Year Begins July 1 Review Unit Budgets Report to the Board of Education Balance the Budget Project Revenue & Expenditures Collect Revenue Make Expenditures Identify Efficiencies Monitor Accounts Identify Efficiencies Monitor Accounts & Propose Changes for future years Prepare Budget Assumptions (New Programs) Project Revenues Project Expenditures

  3. Budget Calendar • JANUARY, 2012 • 2012-2013 Budget Assumptions discussed with Board of Education • Schools and District Program leaders begin budget planning • February, 2012 • 2011-2012 Student Demographic and Enrollment Projection Report presented to Board of Education • Budget reviews for each school and program (Unit) conducted with Assistant Superintendent for Business & Technology. • March, 2012 • Preliminary revenue budget presented to Board of Education on March 29, 2012 • April, 2012 • Preliminary expenditure budget presented to Board of Education on April 26, 2012

  4. Budget Calendar • MAY, 2012 • Preliminary revenue budget updated and preliminary expenditure budget presented to Board of Education on May 24, 2012 • June, 2012 • Preliminary revenue budget updated and preliminary expenditure budget presented to Board of Education on June 14, 2012 • 2012-2013 budget recommended to Board of Education for approval on June 28, 2012 • AUGUST, 2012 • 2012-2013 Tax Levy Hearing at last Board of Education meeting in August, 2012 to set the district tax rate

  5. Budget Assumptions • Revenue • Local • State • Federal • Expenditures • Academic Services • Human Resources • School Improvement • Business Services • Fund Balance

  6. Revenue • Current budget assumptions include no voluntary rollback of operational tax levy (sets rate at tax rate ceiling) • Current rollback $0.1091 (would generate ~$1.5 million) • If a voluntary rollback is approved in August, 2012, the BOE would be unable to capture any rollback until 2014 (Senate Bill 711). • Prop C revenues expected to decrease slightly • State revenue is expected to be flat • State legislators discussing multiple options for changing the state foundation formula.

  7. Expenditures • Salaries • Salaries for all work groups are budgeted to be competitive with like work groups in the Kansas City area • Teacher negotiation process • Benefits • Locked in district paid premiums until January, 2013 • No change in retirement contributions • 10th Elementary • Operational costs for the 10th Elementary will be included within the 2012-2013 budget

  8. Fund Balance The Park Hill Board of Education has established an expected range for operational fund balance at 18 to 22%. Beginning of the year operational fund balance was 19.1%. The 2012-2013 budget will be developed to utilize fund balance to assist with one-time operational costs associated with the opening of the 10th elementary school. The budget will be planned in such a way as to end the 2012-2013 school year with approximately 18% operational fund balance.

  9. FY2013 Budget Assumptions Park Hill Board Of Education Meeting January 26, 2012

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