Proposed Financial Plan for Fiscal 2014-2015

BUDGETED FUNDS SUMMARY 2012-2013 2013-2014 2014-2015 % ACTUAL REVISED PROPOSED Inc/(Decr)

BY FUND:  

OPERATING FUND  $        121,562,123   $        125,009,204   $           130,953,997  4.76%GRANTS FUND              11,350,936                  9,105,000                  11,673,597  28.21%

FOOD SERVICES FUND                 6,868,507                  7,699,013                     7,478,228  -2.87%

$ 139,781,566 $ 141,813,217 $ 150,105,822 5.85%

Revenue - All Funds

Op-erat -ing Fund $130,953,997

Grant Fund 

$11,673,597 

Food Services Fund $7,478,228 

Expenditures by Major Classification

Instruction $110,136,012

73.37% 

Admin & At -tendance 

$3,465,486 2.31%

Health & Psych $1,899,436 

1.27%

Transportation $7,874,3225.25% 

Operations & Maintenance $13,252,294

8.83% 

Food Services $7,478,2284.98% 

Technology $6,000,0444.00% 

Expenditures by Object Code

Personnel compensation and benefits make up 84.24% of the Operating fund budget.

Com-pensa-tion

59.20%

Benefits25.04%

Operating Costs15.77%

History of State Funds

2008-2009 2009-2010 2010-2011 2011-2012 $65,000,000

$67,000,000

$69,000,000

$71,000,000

$73,000,000

$75,000,000

$77,000,000

$73,981,870 

$72,450,870  $73,025,966 

$74,200,097 

76,399,339

State Revenue:

Basic Aid and Non-program specific $1.5mRetirement Rate adjustment .9mProgram Specific .5m

Total increase state revenue $2.9m

History of Local Appropriation of Funds

2009-2010 2010-2011 2011-2012 2012-2013 2013-2014 Proposed 2014-2015 $42,000,000

$44,000,000

$46,000,000

$48,000,000

$50,000,000

$52,000,000

$54,000,000

$56,000,000

$58,000,000

$48,052,130

$44,552,130

$45,952,130

$50,643,200

$55,643,200

$52,684,053

$44,552,130 $44,552,130

$43,643,200

$48,643,200 $49,684,053

Blue= SPS Requested                 Red = City of Suffolk Appropriated

Fiscal 2013-2014 Rates Health Keepers (HMO)10 month Monthly

2012-2013 2013-2014 IncreaseEmployee             24.30             69.30          45.00 Employee +1           293.40          354.94          61.54 Employee Both/One             24.30             69.30          45.00 Employee Family           412.50          499.14          86.64 Employee Both/Family             24.30             69.30          45.00 

Health Keepers (HMO)12 month Monthly

2012-2013 2013-2014 IncreaseEmployee             24.30             57.75          33.45 Employee +1           293.40          295.78            2.38 Employee Both/One             24.30             57.75          33.45 Employee Family           412.50          415.95            3.45 Employee Both/Family             24.30             57.75          33.45 

Other costs increased for Employees:

• Co-Payments $20/PCP  $40/Specialist (doubled) 

• Therapy Services $40/visit (doubled)• Emergency Room visits $150 then 10% each visit 

(increased $50)• Deductibles $100 single/$200 all other plans (new

this year)• Out of pocket Maximums $2000 single/$4000 all other plans (increased from $1000/$2000)

Proposed Budget:

• 3% Cost of living raise for all full-time TEACHER contracted employees 

• 2% Cost of living raise for all full-time NON-TEACHER contracted employees

• 1% VRS phase-in raise (year 3 of 5) as required by law• Increase in Employer share of retirement costs and group life expenses 

Total Personnel Costs of $4,469,289

Proposed Budget:

• Increased Budget –Joint Operations    • Software Renewal Increases• Homeless Transportation Increase• School Resource Officers (Grant ended)• IT infrastructure Replacement Costs• Grant matches –Algebra Readiness and IT grants• Transportation Fuel Increased Costs  

Total Non-personnel Costs: $1,475,504

City Appropriation Request:

Increased Appropriation Request $3.0 million

Appropriation Request for HVAC .5 million

Total $3.5 million