FY2011 Preliminary Budget Appoquinimink School District July 13, 2010 Presentation

1. FY2011 Preliminary Budget Appoquinimink School District July 13, 2010 Presentation

2. ASD FY2011 Preliminary Budget • What we will cover • Process and timeline • Principles • Major changes from FY2010 • The budget

3. Process and timeline • Start with FY2010 Final Budget • May/June – forecast final FY2010 revenues/expenditures • May/June – meet with schools and departments to discuss FY2011 needs

4. Process and timeline • May/June – make Superintendent and Financial Advisory Committee aware of potential major budget issues • June – forecast FY2011 revenues based on FY2010 and draft State budget • June/July – set tax rates

5. Process and timeline • July – adjust based on final State budget and FY2010 ASD figures • July – preliminary budget reviewed by Financial Advisory Committee (FAC) • July – preliminary budget presented to the Board for approval

6. Process and timeline • July 1 – fiscal year begins – operate conservatively using draft preliminary budget until Board approval • July 1 (or so) – State pre-loads State appropriations in Appoquinimink’s “account” (typically 75%) • October – unit count finalized, balance of State money allocated

7. Process and timeline • December – prepare final budget • January – final budget reviewed by FAC, presented to Board • April-July – amendments to the final budget may be considered by the FAC and Board • May – cycle starts again

8. Process and timeline • Monitoring and reporting • Finance Director monitors appropriation balances and expenditure budgets almost daily • Payroll staff monitor reports after each payroll disbursement • Finance staff review reports weekly/monthly as applicable • Monthly reporting to FAC, Board, public

9. Budgeting Principles • Balanced budget • Build and maintain our reserve • Preliminary budget conservatively forecasts revenues in a lean year like FY2011

10. Major changes from FY2010 • Federal – in FY2010 we received $2.7 million in ARRA (“Stimulus”) SFSF (State Fiscal Stabilization Fund) that backfilled several unfunded/underfunded State appropriations: • Student Success Block Grant • Technology Block Grant • Tax Relief • Academic Excellence Allotment • Limited English Proficiency • Division I, II, III (underfunded)

11. Major changes from FY2010 • Federal – in FY2011 we will only receive $1.3 million to replace what was funded by the $2.7 million SFSF. In response, we had to reduce support for • Technology Block Grant • Limited English Proficiency … and absorb locally … • Academic Excellence Allotment (substitutes) • Student Success Block Grant (interventionists)

12. Major changes from FY2010 • The State also cut support for math and reading specialists. Appoquinimink will keep them, funding them locally. • Local tax receipts will increase due to increased total assessed value of taxable property. However, we still project that we have to draw on reserves to cover the budget.

17. FY2011 Preliminary Revenue Budget

18. FY2011 Preliminary Revenue Budget

19. FY2011 Preliminary Expenditure Budget

20. FY2011 Preliminary Budget • This preliminary budget was reviewed and endorsed by the Financial Advisory Committee on July 6, 2010. • Questions? • Approval