2.27.15
Financial Advisory Committee
FAC Goals
To inform the Financial Advisory Committee of District goals and strategic design and how it aligns to the District’s budget - All stakeholders understand, articulate, and support the mission.
To seek financial input for further discussion and obtain valuable information to share with the Board of Education - All stakeholders desire efficient utilization of resources.
To be transparent and have open communication - All stakeholders desire accountability through continuous assessment, periodic review, and renewal of vision.
FAC Meeting Timeline
2014-2015 November- 5 Year Planning Projections February-Budget Reduction Plan May-Update on District’s Financial
Outlook August-FY16 Budget
FAC Norms
Maintain positive intent All voices heard Stay on time
Agenda 2.27.15
Introductions
Presentation of District 427 Budget Deficit Reduction Plan
Topics for next meeting
Leaders collaborate to ensure District decisions and resources align with the District’s Strategic Design
FY16 Budget Goals Increased communication Improving efficiencies Informed decisions Foster relationships 3 year deficit reduction plan▪ Balanced budget▪ Strengthen the Fund Balance related to the
Board Policy
FY16 Budget Calendar
October-PMA Five Year Projections November-PMA Debt Structure December-Presentation of Deficit Reduction
Plan-BOE Parameter Input January-Program Managers/Staff Budget Work February-Program Managers Present to
Board/Reduction Plan for Personnel February- Prioritization Discussion April- Revenue Picture May-Budget Update June-Tentative Budget August-Final Budget
The Budget is a Roadmap
Economic Conditions/Constraints
Revenues State Funding Proration over timeTiming of paymentsAdditional unknown factors
▪ SB1▪ Pension Reform
Declining EAV Declining grant
funding
Expenses Deficit Spending Declining Fund
Balances
General State Aid (GSA) Based on Enrollment (Average Daily Attendance) and
Available Local Resources▪ District in Foundation Formula▪ Receives about $2,050 per ADA ($1,830 after proration)
FY2015 Proration: 89%, FY2016-2020 Proration: 89% State Mandated Categoricals
Ed Fund Spec Education and Transportation Reimbursement▪ Modeled after FY15 ISBE Estimates▪ 21% Increase over FY15 Budget
All Other: No change over FY15 Budgeted levels Federal Revenue
No change With the exception of Fed Spec Ed, timing
Key Revenue Assumptions
Salaries Per Contract where applicable▪ Teachers: Current contract through FY2017▪ Custodians: Current contract through FY2017▪ Aides: Current contract through FY2019▪ Future years to be negotiated
Health Benefits 10% annual increases
Other Expenses No change over FY15 Budgeted levels Any one time adjustments accounted for accordingly
Key Expenditure Assumptions
Eleven Year Perspective-Current
FPP Model
3 Year Reduction Plan
FY16- $1,600,000
FY17-$1,500,000
FY18-$700,000
Total $3,800,000
Five Year Perspective
Current Reduction Plan
Eleven Year Perspective
Current Reduction Plan
Fund Balance Board Policy
Operating Funds Fund Balance is 25% of Operating Fund Expenses-Minimum Reserve
Operating Funds Fund Balance is 10% of Operating Fund Expenses-Plan must be presented to restore future budgets
Base Integrity Commitment Performance
BUDGET
FY 2015 FY 2016 % chg FY 2017
REVENUE / EXPENDITURE PROJECTIONS
% chg FY 2018 % chg FY 2019 % chg FY 2020 % chg
REVENUELocal State
Federal Other
TOTAL REVENUE
$30,654,956$9,309,655$1,789,397
$0
$29,428,000$11,368,649
$1,847,169$0
-4.00%22.12%
3.23%
$30,236,662$12,075,741
$1,847,169$0
2.75%6.22%0.00%
$31,192,850$12,332,315
$1,847,169$0
3.16%2.12%0.00%
$32,183,190$12,322,865
$1,847,169$0
3.17%-0.08%0.00%
$33,207,240$11,981,973
$1,847,169$0
3.18%-2.77%0.00%
$41,754,008 $42,643,818 2.13% $44,159,572 3.55% $45,372,334 2.75% $46,353,224 2.16% $47,036,383 1.47%
EXPENDITURESSalary and Benefit Costs
OtherTOTAL EXPENDITURES
$33,128,434$11,953,984
$34,740,949$11,203,350
4.87%-6.28%
$36,367,713$11,203,350
4.68%0.00%
$37,251,171$11,203,350
2.43%0.00%
$38,387,503$11,203,350
3.05%0.00%
$39,336,684$11,203,350
2.47%0.00%
$45,082,418 $45,944,299 1.91% $47,571,063 3.54% $48,454,521 1.86% $49,590,853 2.35% $50,540,034 1.91%
SURPLUS / DEFICIT ($3,328,410) ($3,300,482) ($3,411,491) ($3,082,187) ($3,237,629) ($3,503,651)
OTHER FINANCING SOURCES/USESTransfer Among Funds (Net)
Sale of Bonds Other Financing Sources
Other Financing UsesTOTAL OTHER FIN.
SOURCES/USES
($408,710)$805,000
$0 ($2,010,921)
($415,741)$360,000
$0$0
($422,028)$360,000
$0$0
($422,497)$360,000
$0$0
($427,435)$360,000
$0$0
($431,235)$360,000
$0$0
($1,614,631) ($55,741) ($62,028) ($62,497) ($67,435) ($71,235)
SURPLUS / DEFICIT INCL. OTHER FIN. SOURCES ($4,943,041) ($3,356,222) ($3,473,520) ($3,144,684) ($3,305,063) ($3,574,886)
BEGINNING FUND BALANCE $15,171,840 $10,228,799 $6,872,577 $3,399,057 $254,373 ($3,050,691)
PROJECTED YEAR END BALANCE $10,228,799 $6,872,577 $3,399,057 $254,373 ($3,050,691) ($6,625,577)
FUND BALANCE AS % OF EXPENDITURES
FUND BALANCE AS # OF MONTHS OF EXPEND.
22.69%
2.72
14.96%
1.80
7.15%
0.86
0.52%
0.06
-6.15%
(0.74)
-13.11%
(1.57)
Sycamore 427Aggregate - Projection Summary
© 2012 PMA Financial Network, Inc. All Assumptions have been provided by the District.
Page: 18 12/9/2014 - 2:34
PM
Fund Balance Policy
Integrity Commitment Performance
BUDGET
FY 2015 FY 2016 % chg FY 2017
REVENUE / EXPENDITURE PROJECTIONS
% chg FY 2018 % chg FY 2019 % chg FY 2020 % chg
REVENUELocal State
Federal Other
TOTAL REVENUE
$30,654,956$9,309,655$1,789,397
$0
$29,429,556$11,368,649
$1,847,169$0
-4.00%22.12%
3.23%
$30,247,093$12,075,741
$1,847,169$0
2.78%6.22%0.00%
$31,221,361$12,332,315
$1,847,169$0
3.22%2.12%0.00%
$32,236,878$12,322,865
$1,847,169$0
3.25%-0.08%0.00%
$33,291,209$11,981,973
$1,847,169$0
3.27%-2.77%0.00%
$41,754,008 $42,645,374 2.13% $44,170,003 3.58% $45,400,846 2.79% $46,406,912 2.22% $47,120,351 1.54%
EXPENDITURESSalary and Benefit Costs
OtherTOTAL EXPENDITURES
$33,128,434$11,953,984
$34,740,949$9,603,350
4.87%-19.66%
$36,367,713$8,103,350
4.68%-15.62%
$37,251,171$7,403,350
2.43%-8.64%
$38,387,503$7,403,350
3.05%0.00%
$39,336,684$7,403,350
2.47%0.00%
$45,082,418 $44,344,299 -1.64% $44,471,063 0.29% $44,654,521 0.41% $45,790,853 2.54% $46,740,034 2.07%
SURPLUS / DEFICIT ($3,328,410) ($1,698,925) ($301,060) $746,325 $616,059 $380,317
OTHER FINANCING SOURCES/USESTransfer Among Funds (Net)
Sale of Bonds Other Financing Sources
Other Financing UsesTOTAL OTHER FIN.
SOURCES/USES
($408,710)$805,000
$0 ($2,010,921)
($415,741)$360,000
$0$0
($422,028)$360,000
$0$0
($422,497)$360,000
$0$0
($427,435)$360,000
$0$0
($431,235)$360,000
$0$0
($1,614,631) ($55,741) ($62,028) ($62,497) ($67,435) ($71,235)
SURPLUS / DEFICIT INCL. OTHER FIN. SOURCES ($4,943,041) ($1,754,666) ($363,089) $683,828 $548,625 $309,083
BEGINNING FUND BALANCE $15,171,840 $10,228,799 $8,474,133 $8,111,044 $8,794,872 $9,343,496
PROJECTED YEAR END BALANCE $10,228,799 $8,474,133 $8,111,044 $8,794,872 $9,343,496 $9,652,579
FUND BALANCE AS % OF EXPENDITURES
FUND BALANCE AS # OF MONTHS OF EXPEND.
22.69%
2.72
19.11%
2.29
18.24%
2.19
19.70%
2.36
20.40%
2.45
20.65%
2.48
Sycamore 427Aggregate - Projection Summary
Page: 19
12/9/2014 - 2:24
PM
© 2012 PMA Financial Network, Inc.
All Assumptions have been provided by the District.
Fund Balance Policy
Reduction Plan
Implementation of the 3 Year Budget Reduction Plan
Yearly Review Input from Staff, Board of Education and
Administration Review of impact on students opportunities Review of impact on student achievement
Sycamore Success- Looking at the Big PicturePrograms Drive Resources
Sycamore Community School District…
Empowering all Learners to Succeed in their World
Strategic
DesignMission/Vision
•Professional Learning Communities (PLC)•Curriculum Assets
•Mass Customized Learning (MCL)•Response to Intervention (RTI)
•Technology
•Extra Curricular Activities•Co-Curricular Opportunities•Dual Credit Opportunities- Academies
•Educational Institutions•Business Community
•Non-Profits
•Grant Opportunities
•Building Budgets
•Account Consolidation•Review of Expenditures•Examine Revenues
How we are going to get there? Is the expenditure mandated? What is the alignment to Strategic
Design? (Evidence through the Strategic Design
Book) What is the alignment to the District
Vision? (Evidence through the Vision Statement)
What is the alignment to the current District goals? (Which goal?)
What is the impact on students?
(Quantity and Depth) What is the impact on the overall
organization?
How we are going to get there?
What is the impact on the culture? Can this be accomplished another
way? (Schedule, community resources)
What data is there to back up the recommendation? (Data source)
What is the actual cost?
Budget Proposal
Proposal Impact of Proposal
Reassignment of administrative duties and roles
Partial or full position reduction- (to be determined)
Elimination of courses with low enrollment at SHSClass size increasesContinued practice of student assignment in elementary buildings
Reduction 7.0 FTECertified Core Positions(Based on unknown enrollments and high school course requests)
Reassignment/Realigned schedules of intervention services
Reduction 1.0 FTE Certified Reading Specialist
Budget Proposal
Proposal Impact of Reduction
Realignment of service delivery Review of caseloads
Reduction of 3.0 FTE Certified Special Education Positions
Resource allocation of intervention services based onstudent need 2.0 Certified Related Services Positions
Realignment of schedules
Reduction 3.2 Certified Non-Core Positions (Art, Music, PE, technology, non-core)Staff may be required to serve multiple buildings
Budget Proposal
Proposal Impact of Proposal
Decrease in enrollment of ELL students served
Reduction of .6 Certified ELL Position- Services will be clustered at identified buildings.
Grant funded programs and positions will be eliminated/ placed on hold until evidence of funding is received
Reduction of 1.0 Certified Reading TeacherReduction of grant funded support staffREACH Program
Budget Proposal
Proposal Impact of Proposal
Realignment of student support services (Special Education,instructional, library, health)
Reduction 26.0 FTEEducational Support Positions (Based on unknown enrollment and caseloads)21.0 additional support were added in 2014-2015 Decrease in students with IEP over the 2014-2015 school year
Realignment of Central Office duties Reduction of 0.5 FTE support staff position
Budget Proposal Proposal Impact of Proposal
Realign custodial duties Reduction of 2.5 FTE Custodial Positions
Realign maintenance duties Reduction of .5 FTE Maintenance Position
Budget Proposals
Proposal Impact of Reduction
Place a limit on number of students attending KEC based on priority for courseworkWhen possible offer courses on SHS campus in lieu of CTE courses at KEC
Reduction in tuition paid to KECReduction in transportation costsPossible student scheduling benefit
Schedules reviewed for staff assignmentsReduction in overloads at SHS/SMSReduction in extra pay for supervision
Review of number of stipends in PNA extra curricular contracts
Reduction in coaching/activities positionsStudent participation limitedCurrently 24 volunteer coaches /activities also provide assistance
Realign District Grade Level Elementary PLC meetings to after school Staff would meet after school
Budget Proposals
Proposal Impact of Reduction
Restructuring of staff professional development opportunities Staff access to professional development
Deferred purchase of new buses Possible increase in maintenance costsDecline in resale value
Elementary Budget
North $(7,892.00)
South Prairie $(4,813.00)
Southeast $(6,203.00)
West $(3,850.00)
North Grove $(5,300.00)
$-
$10,000.00
$20,000.00
$30,000.00
$40,000.00
$50,000.00
$60,000.00
FY15FY16
MS-HS Budget
MS $(16,400.00) Ath/Act $(30,760.00)
HS $(37,544.00)
$-
$100,000.00
$200,000.00
$300,000.00
$400,000.00
$500,000.00
$600,000.00
$700,000.00
$800,000.00
$900,000.00
FY15
FY16
Admin
Curric
ulum
$(7
4,76
7.00
)
OSCARE
$(9
,550
.00)
Tech
$(2
22,3
83.0
0)
O&M $
(142
,344
.11)
Tran
s $
(153
,717
.17)
RTI
$(24
,000
)
Spec
ial E
d $
(158
,390
.52)
$-
$500,000.00
$1,000,000.00
$1,500,000.00
$2,000,000.00
$2,500,000.00
FY15
FY16
FY16 Budget
Operating Budget Reduction $897,914
Personnel Budget Reduction $1,266,595
Total Reduction $2,164,509
Contingency $400,000
Total Reduction With Contingency $1,764,509
Requests For Board Input
DESCRIPTION SCHOOL/ PROGRAM ESTIMATED AMOUNT
Teaching & Learning
Pre-K Program Pre-K $ 91,915
Resource Coordinator District $ 12,000
Operations
35 Samsung Galaxy Tablets MS $ 8,630
70 sets of Samsung Galaxy Tablets MS $ 17,260
Fenced Play Area SP $ 29,000
Bandroom Accoustical Treatment HS $ 8,000
$ 166,805
All stakeholders desire efficient utilization of resources
Questions?
Top Related