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Northeastern School District

Northeastern School District. Preliminary Budget Presentation 2013-2014 School Year. The Bobcat Way: 100% of our students will graduate and be fully prepared for post-secondary education. Preliminary Budget. Budget 2013-2014 Summary. Revenue

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Northeastern School District

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  1. Northeastern School District Preliminary Budget Presentation 2013-2014 School Year The Bobcat Way: 100% of our students will graduate and be fully prepared for post-secondary education.

  2. Preliminary Budget

  3. Budget 2013-2014 Summary • Revenue • Total increase of <$1M from 2012-13 (w/o tax increases). • Local • Growth through higher assessed values is non-existent. • ES3 challenging district on LERTA and assessed value at -$900k. • Relying on millage rate tax increases to fuel revenue growth • State • Partially offsetting employer retirement payments into PSERS. • State no longer supports cyber and charter school funding costs. • Expenditures • Total increase of $2.8M • Total Salary increased $525k. • Gross Retirement cost increased $1.2M , net cost >500k. • Health insurance (after plan redesign) increased $72k • Debt Service budgetincreased >$600k. • We must continue to look for ways to reduce REOCCURING expenditures while maintaining a quality education for our children.

  4. Budget 2013-2014 Summary • Savings • No use of fund balance and no transfer of money into Capital Reserve fund. • Have less than 2 weeks of savings left. • Taxes • The school board approved a preliminary budget AND filed for the retirement exception capping additional tax revenue at $1.1M and the possible millage rate increase to 3.5%. • FIRST TIME district has filed for a tax exception to balance budget!

  5. Fund Balance: Total $ amount

  6. TAXES: District Perspective

  7. TAXES: Taxpayer Perspective

  8. Ways to Balance Budget

  9. Expenditure Reductions

  10. Rolling Furlough • Shutdown for 1 school day in 2013-14 and 1 school day in 2014-15 • Saves district $140k per year of reoccurring savings • Amend (not open) professional contract through an MOU to have 189 work and paid days and reduce the student days to 180. • Amend calendar to have furlough last day of year after the clerical day

  11. Final Thoughts • Financial: • Revenue • Expenditures • Fund Balance • Taxation • Budget Forecast

  12. Northeastern School District: One Family • "Although the 2013-14 budget and forecasted upcoming budgets probably will require both tax increases and significant cost cutting to balance, Northeastern School District will balance its budgets while providing a quality education for all of our students." - Brian Geller, Director of Operations • “Northeastern School District, in partnership with the community, is committed to provide a high quality education to our students while developing a fiscally responsible long-term plan. Achievement of this goal is only made possible by all stakeholders working together.” –Dr. Shawn Minnich, Asst. Superintendent of Curriculum & Instruction

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