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2014-15 General Fund Budget BUDGET PROCESS

2014-15 General Fund Budget BUDGET PROCESS. THE BUDGET PROCESS. LOCAL REVENUE. LOCAL REVENUE– STAGNANT, PROJECTED SLIGHT DECREASE IN EIT $1,100,000 INCREASE REAL ESTATE TAXES $297,263-TAX INCREASE. STATE REVENUE.

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2014-15 General Fund Budget BUDGET PROCESS

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  1. 2014-15 General Fund BudgetBUDGET PROCESS

  2. THE BUDGET PROCESS

  3. LOCAL REVENUE • LOCAL REVENUE– STAGNANT, PROJECTED SLIGHT DECREASE IN EIT • $1,100,000 • INCREASE REAL ESTATE TAXES • $297,263-TAX INCREASE

  4. STATE REVENUE • STATE REVENUE DOESN’T MATCH MANDATES WITH THE EXCEPTION OF SOCIAL SECURITY AND RETIREMENT • BASIC EDUCATION FUNDING REMAINS ESSENTIALLY THE SAME • SPECIAL EDUCATION FUNDING REMAINS ESSENTIALLY THE SAME

  5. Change in revenue over time

  6. NEW SOURCES OF STATE REVENUE • $20 Million in New Special Education Funding to be Distributed to Districts Based upon 3 Special Education Cost Categories pursuant to recommendations by Special Education Funding Commission • School District- Specific factors such as Aid Ratios, Equalized Millage Rates, Sparsity/Size Factor used to provide adjustments. • New special education money for Franklin $50,368

  7. New source of state revenue • READY TO LEARN FUNDING • ACCOUNTABILITY BLOCK GRANT MAINTAINED AT SAME LEVEL $162,272 • STUDENT FOCUSED FUNDING SUPPLEMENT - USE RESTRICTED BASED ON DISTRICT SPP SCORE – FRANKLIN ESTIMATED TO RECEIVE $343,094

  8. Federal revenue • TITLE I used for improving academic achievement of disadvantaged • School-wide at all elementary schools • Currently funds 5 reading teachers and 3 math coaches • Drastic decrease over the last 3 years • 2013-14 decrease due to sequestration • 2014-15 adjustment to “poverty census”

  9. Title I allocation

  10. Federal revenue • Title II A is used for Class-Size Reduction teachers • 3 teacher salaries and benefits were funded in 13-14 • 2 teacher salaries/benefits will be funded in 14-15 • Title II A is also used for professional development

  11. Federal revenue • School Based Access Medicaid Reimbursement • Reimburses for Direct Health-Related Services of Special Needs Students • Administration of Program has changed from Leader Services to PCG and processing has become cumbersome • Reimbursement has decreased from $350,000/$367,000 to slightly over $200,000

  12. EXPENDITURES MANDATED OR REQUIRED TO BE SPENT

  13. SALARIES AND BENEFITS 2014-15 • STAFFING • PROFESSIONAL STAFF DECREASE FROM 165 TO 163 • 5 RETIREMENTS- 4 REPLACEMENTS AT LOWER STEP , 1 NOT REPLACED • RESTRUCTURING OF TITLE I MATH COACHES BECAUSE OF SHRINKING FEDERAL DOLLARS • BENEFITS • NO INCREASE IN HEALTH BENEFIT COST • NO INCREASE IN DENTAL BENEFIT COST

  14. 2012-13 BUDGETED EXPENDITURES

  15. BUDGET 2014-15

  16. FUTURE CONSIDERATIONS • SHRINKING STUDENT ENROLLMENT • According to October 1, enrollment numbers there has been a decrease of 288 students over the last 10 years.

  17. Future considerations PSERS obligations

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