MOSHANNON MOSHANNON VALLEY SCHOOL VALLEY SCHOOL

DISTRICTDISTRICT

2015-20162015-2016

PROPOSED BUDGET PROPOSED BUDGET 4-20-154-20-15

2015-16 Timeline2015-16 Timeline Oct ‘14 – Oct ‘14 – PDE issues 2015-16 adjusted index (2.8%)PDE issues 2015-16 adjusted index (2.8%) Nov ‘14 – Approve resolution not to increase taxes above Nov ‘14 – Approve resolution not to increase taxes above

index index (2.43 Mills)(2.43 Mills) Dec ‘14– 15-16 Budget request forms forwarded to staffDec ‘14– 15-16 Budget request forms forwarded to staff Jan ‘15 – Budget requests forwarded to principals for Jan ‘15 – Budget requests forwarded to principals for

reviewreview Feb ‘16 - Approved requests forwarded to district officeFeb ‘16 - Approved requests forwarded to district office Feb-May ‘15- Begin annual bid process & schedule Feb-May ‘15- Begin annual bid process & schedule

Finance comm. mtgs.Finance comm. mtgs. May ‘15 – Approve Proposed 15-16 budget (begin public May ‘15 – Approve Proposed 15-16 budget (begin public

display)display) June ‘15 – Advertise intent to adopt final 15-16 budgetJune ‘15 – Advertise intent to adopt final 15-16 budget June ‘15 – Adopt final 15-16 budget; release purchase June ‘15 – Adopt final 15-16 budget; release purchase

ordersorders

Fund BalanceFund BalanceProjection 6-30-16Projection 6-30-16

General Fund 10 General Fund 10 Unassigned Unassigned $1,448,153 $1,448,153

Less 15-16 deficitLess 15-16 deficit ($191,218)($191,218) BalanceBalance $1,256,935$1,256,935

AssignedAssigned Health Ins,Ret, Energy Health Ins,Ret, Energy $3,425,631 $3,425,631

Bldg. Projects $1,730,000 Bldg. Projects $1,730,000 ********************************************************************************************

Capital Reserve Fund 22 (Capital Reserve Fund 22 (RestrictedRestricted)) Capital Projects Capital Projects ESCOESCO $1,028,358$1,028,358

PROJECTION 2015-16 $13,616,319

14-15: $13,663,658 (projected)

13-14: $13,821,922(actual)

12-13: $13,293,570 (actual)

4 yr avg $13.5 M

State Subsidy State Subsidy $9,722,442$9,722,442

Basic Education Funding $6,974,374 Basic Education Funding $6,974,374 +2%+2%

Special EducationSpecial Education $767,068 +$767,068 + TransportationTransportation $720,000 - $720,000 - Rental & Sinking fd pmts $206,000Rental & Sinking fd pmts $206,000 RetirementRetirement $500,000 (25.84%) $500,000 (25.84%) OtherOther $555,000 $555,000

www.schoolsthatteach.comwww.schoolsthatteach.com

Local Revenue $3,518,877Local Revenue $3,518,877 Revenue source – RE Taxes, PC Taxes, Revenue source – RE Taxes, PC Taxes,

Delinquent Taxes & Interest Delinquent Taxes & Interest Local control – Real EstateLocal control – Real Estate

87.8 mills +1 mil87.8 mills +1 mil District collects approx 88% of RE taxesDistrict collects approx 88% of RE taxes Est. 2015-16 RE $2,405,777Est. 2015-16 RE $2,405,777

Est. Property Tax Relief:Est. Property Tax Relief: $327,000 - Lowers RE taxes $164 $327,000 - Lowers RE taxes $164 (est.)(est.)

1 mill equals approximately $30,0001 mill equals approximately $30,000Average Property Value $39,668Average Property Value $39,668

1 Mill Impact on Property 1 Mill Impact on Property OwnersOwners

$30,000 property - $7.50 increase$30,000 property - $7.50 increase $50,000 property - $12.50 increase$50,000 property - $12.50 increase $75,000 property - $19.63 increase$75,000 property - $19.63 increase $100,000 property - $25.00 increase$100,000 property - $25.00 increase $125,000 property – $31.25 increase$125,000 property – $31.25 increase $150,000 property - $37.50 increase$150,000 property - $37.50 increase Our last increase was 1 mill in 2008-09 Our last increase was 1 mill in 2008-09 Seven years agoSeven years ago

Coal LeaseCoal Lease

Will add to our Local RevenueWill add to our Local Revenue $5,000 received and deposited$5,000 received and deposited Not sure when operations will beginNot sure when operations will begin Added $3000 to local rev for 15-16Added $3000 to local rev for 15-16 Start budgeting royalties in 16-17Start budgeting royalties in 16-17 Different than tax revenue, has a beginning Different than tax revenue, has a beginning

and endand end Use for 1 time purchasesUse for 1 time purchases

Federal $375,000 estFederal $375,000 est

Title I (School wide) $265,000Title I (School wide) $265,000 Reading, Math Reading, Math

Title II $50,000Title II $50,000 Professional DevelopmentProfessional Development

Access $60,000Access $60,000 Based on billing forBased on billing for

Eligible ServicesEligible Services

Debt Service ScheduleDebt Service Schedule 2009 Series – Paid off in 20152009 Series – Paid off in 2015 $1,032,574 bond payment in 15-16$1,032,574 bond payment in 15-16 2012 Series - $16,000,0002012 Series - $16,000,000

The refinance savings ends 2017, The refinance savings ends 2017, payments will increase by approx. payments will increase by approx. $218,000 in 2018. (until 2032)$218,000 in 2018. (until 2032)

New 15-16New 15-16

Special Education Teacher $53,300Increased Minimum Wage to $10/hr $55,154 (Custodians/Aides)Cafeteria Transfer ?

OptimizeOptimizeStudent Student

AchievementAchievement

2015-16 Expenditures2015-16 Expenditureswithwith

AvailableAvailable

ResourcesResources

Expenditures by FunctionExpenditures by Function$13,807,537$13,807,537

1000 – Instructional; 2000- Support; 3000-Student Act; 4000-Building; 5000-Debt1000 – Instructional; 2000- Support; 3000-Student Act; 4000-Building; 5000-Debt

Expenditures by ObjectExpenditures by Object$13,807,537$13,807,537

100- Salaries; 200-Benefits; 300- Prof Svcs; 400-Bldg Svcs: 500-Transp/Tuition; 600-100- Salaries; 200-Benefits; 300- Prof Svcs; 400-Bldg Svcs: 500-Transp/Tuition; 600-Supplies; 700-Equip; 800-900-DebtSupplies; 700-Equip; 800-900-Debt

15-16 Instruction (1000) 15-16 Instruction (1000) Expenditures Expenditures $7,889,908$7,889,908

70 Employees; 2.8% Salary increase; 0% Health Insurance Increase; 70 Employees; 2.8% Salary increase; 0% Health Insurance Increase; Retirement – 25.84%; TTT-Cyber-Charter Tuition, Prof Svc-S4T, CIU, OTRetirement – 25.84%; TTT-Cyber-Charter Tuition, Prof Svc-S4T, CIU, OT

Support (2000) Expenditures Support (2000) Expenditures $4,440,084$4,440,084

45 Employees, 2.7-3% wage increase, 0% Medical Ins Increase, TTT-Pupil 45 Employees, 2.7-3% wage increase, 0% Medical Ins Increase, TTT-Pupil Transportation, Prof Svcs.-Technology, training, legal, auditors, Athletic Trainer, Bldg Transportation, Prof Svcs.-Technology, training, legal, auditors, Athletic Trainer, Bldg Svcs.-Maintenance AgreementsSvcs.-Maintenance Agreements

3000 STUDENT ACTIVITIES3000 STUDENT ACTIVITIES4000 BUILDING4000 BUILDING5000 BOND PAYMENTS5000 BOND PAYMENTS

Student Activities $372,471Student Activities $372,471 Building Improvements $30,000Building Improvements $30,000 Bond Debt $1,075,074Bond Debt $1,075,074

20152015

MVSD 5 Year Salary Projection Projected Salaries PSERS

TOTAL Salaries &

PSERS

Projected Salaries PSERS

TOTAL Salaries &

PSERS

Projected Salaries PSERS

TOTAL Salaries &

PSERS

Projected Salaries PSERS

TOTAL Salaries &

PSERS

Projected Salaries PSERS

TOTAL Salaries &

PSERS

Department 15-16 25.84%   16-17 29.69%   17-18 30.62%   18-19 31.56%   19-20 32.23%  

INSTRUCTION $ 3,684,769

$ 952,144

$ 4,636,913

$ 3,787,943 $ 1,124,640

$ 4,912,583

$ 3,894,005

$ 1,192,344

$ 5,086,349

$ 4,003,037

$ 1,263,358

$ 5,266,396

$ 4,115,122

$ 1,326,304

$ 5,441,426

SUPPORT $ 1,168,449

$ 301,927

$ 1,470,376

$ 1,203,502 $ 357,320

$ 1,560,822

$ 1,239,608

$ 379,568

$ 1,619,175

$ 1,276,796

$ 402,957

$ 1,679,753

$ 1,315,100

$ 423,857

$ 1,738,956

NON-INSTRUCTIONAL $ 164,000

$ 42,378

$ 206,378

$ 168,592 $ 50,055

$ 218,647

$ 173,313

$ 53,068

$ 226,381

$ 178,165

$ 56,229

$ 234,394

$ 183,154

$ 59,031

$ 242,184

Total $ 5,017,218

$ 1,296,449

$ 6,313,667

$ 5,160,037 $ 1,532,015

$ 6,692,052

$ 5,306,925

$ 1,624,980

$ 6,931,905

$ 5,457,998

$ 1,722,544

$ 7,180,542

$ 5,613,376

$ 1,809,191

$ 7,422,567

                     

GENERAL FUND SALARIES 2014-15

$ 5,051,128

GENERAL FUND PSERS 13-14 $ 926,453

PSERS REIMBURSEMENT 13-14 $ 463,227

TOTAL FUND BALANCE, BEGIN*   6,599,784    

6,414,786    

6,003,096    

5,398,035    

4,593,119

  (108,909)

(255,797)

(406,870)

(562,248)

CHANGE IN PSERS (369,996)

(605,562)

(698,527)

(796,091)

(882,738)

CHANGE IN PSERS REIMBURSEMENT 184,998

302,781

349,264

398,046

441,369

     

GENERAL FUND BALANCE, END   6,414,786    

6,003,096    

5,398,035    

4,593,119    

3,589,503

Projection for 6-30-2015

*Designated Ret, Ins, Utilities $ 3,425,631

*Designated Capital Projects $ 1,730,000

*Unreserved Undesignated $ 1,444,153

TOTAL $ 6,599,784

ASSUMES ALL OTHER REVENUE AND EXPENDITURES WOULD RESULT IN NO FUND BALANCE CHANGE (BALANCED BUDGET)