Financial Analysis Report 2022-2023
Explore budget data for various funds including Special Education, Food Service, Debt Service, Sinking Fund, and Capital Projects. Gain insights into revenue, expenses, fund balances, and more for the upcoming fiscal year.
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Presentation Transcript
21-22 FINAL BUDGET 22-23 ORIGINAL BUDGET 6/27/2022
SPECIAL EDUCATION FUND 2022-2023 Original Budget $3,119,977 $3,119,977 2021-2022 June Amendment $2,243,276 $2,243,276 2021-2022 Original Budget $2,556,729 $2,556,729 2020--2021 Audited Actual $2,075,191 $2,075,191 Total Revenue Total Expense Expense Over/Under Revenue Beginning Fund Balance Ending Fund Balance $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 21-22 FINAL BUDGET 22-23 ORIGINAL BUDGET 6/27/2022
FOOD SERVICE FUND 2022-2023 Original Budget $1,753,800 $2,314,388 ($560,588) $590,460 $29,872 2021-2022 June Amendment $2,519,853 $2,241,322 $278,531 $311,929 $590,460 2021-2022 Original Budget $1,774,900 $1,913,081 ($60,181) $311,929 $251,748 2020--2021 Audited Actual $991,888 $1,330,148 ($338,260 $650,189 $311,929 Total Revenue Total Expense Expense Over/Under Revenue Beginning Fund Balance Ending Fund Balance 21-22 FINAL BUDGET 22-23 ORIGINAL BUDGET 6/27/2022
DEBT SERVICE FUND 2022-2023 Original Budget $6,062,738 $6,770,582 ($707,844) $1,758,537 $1,050,693 2021-2022 June Amendment $5,748,851 $5,604,930 $143,921 $1,614,616 $1,758,537 2021-2022 Original Budget $5,712,015 $5,604,930 $107,085 $1,614,616 $1,721,701 2020--2021 Audited Actual $5,570,216 $5,688,699 ($118,484) $1,733,100 $1,614,616 Total Revenue Total Expense Expense Over/Under Revenue Beginning Fund Balance Ending Fund Balance 21-22 FINAL BUDGET 22-23 ORIGINAL BUDGET 6/27/2022
SINKING FUND 2022-2023 Original Budget $978,713 $1,389,000 ($410,287) $1,324,151 $913,864 2021-2022 June Amendment $916,049 $621,953 $294,096 $1,030,055 $1,324,151 2021-2022 Original Budget $921,642 $1,389,000 ($467,358) $1,030,055 $562,697 2020--2021 Audited Actual $878,337 $489,704 $388,633 $641,422 $1,030,055 Total Revenue Total Expense Expense Over/Under Revenue Beginning Fund Balance Ending Fund Balance 21-22 FINAL BUDGET 22-23 ORIGINAL BUDGET 6/27/2022
CAPITAL PROJECTS FUND 2022-2023 Original Budget 2021-2022 June Amendment $9,006,000 $8,499,000 $507,000 $6,134,576 $6,641,576 2021-2022 Original Budget $9,005,000 $5,198,007 $3,806,993 $6,134,576 $9,941,569 2020--2021 Audited Actual Total Revenue Total Expense Expense Over/Under Revenue Beginning Fund Balance Ending Fund Balance $6,000 $7,685 $6,647,576 ($6,641,576) $6,641,576 $6,371,495 ($6,363,630) $12,498,206 $6,134,576 $0 21-22 FINAL BUDGET 22-23 ORIGINAL BUDGET 6/27/2022
FIDUCIARY ACTIVITY FUND 2022-2023 Original Budget $600,000 $600,000 2021-2022 June Amendment $647,725 $616,094 $31,631 $528,472 $560,103 2021-2022 Original Budget $600,000 $600,000 2020--2021 Audited Actual Total Revenue Total Expense Expense Over/Under Revenue Beginning Fund Balance Ending Fund Balance $243,350 $253,460 ($10,110) $538,582 $528,472 $0 $0 $560,103 $560,103 $528,472 $528,472 21-22 FINAL BUDGET 22-23 ORIGINAL BUDGET 6/27/2022
21-22 FINAL BUDGET 22-23 ORIGINAL BUDGET 6/27/2022
GENERAL FUND 21-22 FINAL BUDGET 22-23 ORIGINAL BUDGET 6/27/2022
State Aid State Aid- - Foundation Foundation Allowance History Allowance History $9,500 9,100 $9,000 8,700 $8,500 8,228 8,228 8,004 $8,000 7,779 7,667 7,554 7,422 $7,500 7,372 7,318 7,318 $7,000 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 21-22 FINAL BUDGET 22-23 ORIGINAL BUDGET 6/27/2022
Student Count History Student Count History 5,347 5,400 5,225 5,137 5,200 5,030 5,000 4,868 4,800 4,700 4,646 4,619 4,557 4,600 4,510 4,333 4,400 4,213 4,200 4,000 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 21-22 FINAL BUDGET 22-23 ORIGINAL BUDGET 6/27/2022
STAFFING VBEA VBEST VBFSA VBAES VBASA Misc Total Projected 21-22 293+ 148 24 21 16 48 550 Active 11/1/21 289 158 28 21 17 53 566 Active 6/30/22 292 157 26 22 17 53 567 Projected 22-23 288 157 26 22 16 53 562 21-22 FINAL BUDGET 22-23 ORIGINAL BUDGET 6/27/2022
ESSER ESSER planning 20-21 Cabinet Survey 877 responses Deliver interventions for struggling students Lower class sizes Provide additional mental health supports Finance committee Budget hearing 21-22 FINAL BUDGET 22-23 ORIGINAL BUDGET 6/27/2022
ESSER ESSER Expenses 21-22 Increased staffing BOS Care Solace ESSER Expenses 22-23 Increased staffing Care Solace 21-22 FINAL BUDGET 22-23 ORIGINAL BUDGET 6/27/2022
NEW FEDERAL FUNDING TIMELINE 21-22 FINAL BUDGET 22-23 ORIGINAL BUDGET 6/27/2022
BUDGET ASSUMPTION SUMMARY 2022-2023 Original June November Amendment 2021-2022 Original Change Amendment (Final to Original) Student Count 4212.87 4,330.87 4,334.09 4,321.50 State Aid (Foundation Allowance) $9,100 $8,700 $8,700 $8,328 Staffing 562 567 566 550+ Coronavirus Funding $9,936,187 $4,424,227 $14,360,414 $14,360,414 21-22 FINAL BUDGET 22-23 ORIGINAL BUDGET 6/27/2022
REVENUE 2022-2023 Original Budget $13,491,429 2021-2022 June Amendment $12,542,188 2021-2022 November Amendment $12,519,519 2021-2022 Original Budget $12,742,681 2020-2021 Audited Actual $11,843,503 Change (Final to Original) Local Sources State Sources $37,357,537 $36,461,311 $35,915,180 $33,261,682 $34,580,650 Federal Sources $13,807,346 $8,294,926 $18,088,458 $17,742,649 $6,021,527 Incoming Transfers $2,191,350 $4,234,072 $2,330,703 $2,218,703 $3,137,339 Fund Modifications $320,000 $558,674 $290,360 $290,360 $464,642 Total Revenue $67,167,662 $62,091,171 $69,144,220 $66,256,075 $56,047,660 21-22 FINAL BUDGET 22-23 ORIGINAL BUDGET 6/27/2022
EXPENSE 2022-2023 Original Budget $31,290,861 2021-2022 June Amendment $27,561,060 2021-2022 November Amendment $34,484,941 2021-2022 Original Budget $32,714,955 2020-2021 Audited Actual $23,173,195 Change (Final to Original) Basic Programs Added Needs $8,727,055 $8,161,955 $7,792,679 $7,470,841 $6,574,898 Pupil Services $5,199,105 $5,013,002 $4,263,328 $4,122,616 $3,801,371 Instructional Services $3,041,466 $3,339,417 $3,524,461 $3,205,628 $3,160,224 General Administration $591,399 $538,674 $570,682 $574,700 $529,115 School Administration $3,495,806 $3,473,068 $3,448,921 $3,196,492 $2,988,966 Business Services $685,130 $720,527 $661,273 $664,555 $613,422 21-22 FINAL BUDGET 22-23 ORIGINAL BUDGET 6/27/2022
EXPENSE CONTINUED 2022-2023 Original Budget $6,920,874 2021-2022 June Amendment $7,373,583 2021-2022 November Amendment $6,251,164 2021-2022 Original Budget $10,082,872 2020-2021 Audited Actual $5,978,134 Change (Final to Original) Operations Transportation $4,985,192 $4,749,016 $4,929,937 $4,827,682 $3,629,346 Central Services $1,745,794 $1,791,063 $1,217,587 $1,112,336 $1,140,104 Athletics $802,396 $874,119 $765,382 $721,472 $576,039 Community Services $668,564 $21,648 $23,540 $28,213 $7,384 Facilities Construction $2,500,000 $1,581,740 $4,260,000 $0 $0 Other Financing Uses $0 $557,193 $919,827 $307,417 $171,624 Total Expense $70,653,642 $65,756,065 $73,113,722 $69,029,779 $52,343,823 21-22 FINAL BUDGET 22-23 ORIGINAL BUDGET 6/27/2022
SUMMARY 2022-2023 Original Budget $67,167,662 $62,091,171 $69,144,220 $66,256,075 $56,047,660 2021-2022 June Amendment 2021-2022 November Amendment 2021-2022 Original Budget 2020-2021 Audited Actual Change (Final to Original) Total Revenue Total Expense $70,653,642 $65,756,065 $73,113,722 $69,029,779 $52,343,823 Expense (Over)/Under Revenue ($3,485,980) ($3,664,894) ($3,969,502) ($2,773,704) $3,703,837 Beginning Fund Balance $9,203,707 $12,868,601 $12,868,601 $12,868,601 $9,164,763 Ending Fund Balance $5,717,727 $9,203,707 $8,899,099 $10,094,897 $12,868,601 BOE Assigned Fund Balance $2,105,000 $2,585,000 $2,585,000 $2,028,824 $2,405,200 Unassigned Fund Balance $3,612,727 $6,618,707 $6,314,099 $8,066,073 $10,463,401 21-22 FINAL BUDGET 22-23 ORIGINAL BUDGET 6/27/2022
SUMMARY 2022-2023 Original Budget $67,167,662 $62,091,171 $69,144,220 $66,256,075 $56,047,660 2021-2022 June Amendment 2021-2022 November Amendment 2021-2022 Original Budget 2020-2021 Audited Actual Change (Final to Original) Total Revenue Total Expense $70,653,642 $65,756,065 $73,113,722 $69,029,779 $52,343,823 Expense (Over)/Under Revenue ($3,485,980) ($3,664,894) ($3,969,502) ($2,773,704) $3,703,837 Beginning Fund Balance $9,203,707 $12,868,601 $12,868,601 $12,868,601 $9,164,763 Ending Fund Balance $5,717,727 $9,203,707 $8,899,099 $10,094,897 $12,868,601 BOE Assigned Fund Balance $2,105,000 $2,585,000 $2,585,000 8% 14% $2,028,824 $2,405,200 15% 12% 25% Unassigned Fund Balance $3,612,727 $6,618,707 $6,314,099 $8,066,073 $10,463,401 21-22 FINAL BUDGET 22-23 ORIGINAL BUDGET 6/27/2022
SUMMARY 2022-2023 Original Budget $67,167,662 $62,091,171 $69,144,220 $66,256,075 $56,047,660 Budget Amendment Amendment $50,000 $550,000 Enrollment Reserve (50) $455,000 Enhancement Millage $1,600,000 $1,600,000 Total $2,105,000 $2,585,000 2021-2022 June Amendment 2021-2022 November Amendment June 2021-2022 Original Budget 2020-2021 Audited Actual Change (Final to Original) 2022-2023 Original 2021-2022 2021-2022 November 2021-2022 Original Budget $450,000 2020-2021 Audited Actual $400,000 Assigned Fund Balance Total Revenue Total Expense $70,653,642 $65,756,065 $73,113,722 $69,029,779 $52,343,823 Football Turf $550,000 Expense (Over)/Under Revenue ($3,485,980) ($3,664,894) ($3,969,502) ($2,773,704) $435,000 $3,703,837 $435,000 $383,900 $405,200 Beginning Fund Balance $9,203,707 $12,868,601 $12,868,601 $12,868,601 $9,164,763 $1,600,000 $1,194,924 $1,600,000 Ending Fund Balance $5,717,727 $9,203,707 $8,899,099 $10,094,897 $12,868,601 $2,585,000 $2,028,824 $2,405,200 BOE Assigned Fund Balance $2,105,000 $2,585,000 $2,585,000 $2,028,824 $2,405,200 Unassigned Fund Balance $3,612,727 $6,618,707 $6,314,099 $8,066,073 $10,463,401 21-22 FINAL BUDGET 22-23 ORIGINAL BUDGET 6/27/2022
SUMMARY 2022-2023 Original Budget $67,167,662 $62,091,171 $69,144,220 $66,256,075 $56,047,660 2021-2022 June Amendment 2021-2022 November Amendment 2021-2022 Original Budget 2020-2021 Audited Actual Change (Final to Original) Total Revenue Total Expense $70,653,642 $65,756,065 $73,113,722 $69,029,779 $52,343,823 Expense (Over)/Under Revenue ($3,485,980) ($3,664,894) ($3,969,502) ($2,773,704) $3,703,837 Beginning Fund Balance $9,203,707 $12,868,601 $12,868,601 $12,868,601 $9,164,763 Ending Fund Balance $5,717,727 $9,203,707 $8,899,099 $10,094,897 $12,868,601 BOE Assigned Fund Balance $2,105,000 $2,585,000 $2,585,000 $2,028,824 $2,405,200 Unassigned Fund Balance $3,612,727 $6,618,707 $6,314,099 $8,066,073 $10,463,401 5% 10% 9% 12% 20% 21-22 FINAL BUDGET 22-23 ORIGINAL BUDGET 6/27/2022
Millage Rate History Millage Rate History 24 22 20.0000 19.6940 18.0000 19.6940 18.0000 19.4931 18.0000 19.4697 18.0000 19.3197 18.0000 20 18.0000 18.0000 18.0000 18.0000 18.0000 18.0000 18.0000 18.0000 18.0000 17.7822 17.7822 18 16 14 12 10 8 6 2.9800 2.9800 2.9800 2.9800 2.9800 2.9800 2.9800 2.9800 2.9800 2.9800 2.9800 4 1.1300 1.1300 1.1300 1.1300 2 0.4959 0.4972 0.4917 0.4911 0.4870 0.4838 0.4786 0 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Operating Available Operating Levy Sinking Fund Debt Fund 21-22 FINAL BUDGET 22-23 ORIGINAL BUDGET 6/27/2022
21-22 FINAL BUDGET 22-23 ORIGINAL BUDGET 6/27/2022
21-22 FINAL BUDGET 22-23 ORIGINAL BUDGET 6/27/2022
