Millburn School District 24 Fiscal Year 2025 Budget Overview
The Millburn School District 24 Fiscal Year 2025 budget covers various funds such as Education, Operations & Maintenance, Debt Service, Transportation, and more. It highlights expenditure details, revenue sources, and revenue comparison between FY 24 and FY 25. The district follows a prudent spending approach influenced by federal, state laws, and grant stipulations.
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Millburn School District 24 Fiscal Year 2025 Budget
Fund Descriptions Fund Description Pays for the instructional programs, daily operations of our schools and general functions of our District including salaries and benefits for most employees. Pays for all of the necessary repairs and maintenance for our buildings. Also included are utilities and supplies to maintain the buildings. 10 - Education 20 - Operations & Maintenance 30 - Debt Service Receives the money that is collected from our taxpayers to repay long-term debt. Pays for the transportation services provided for both regular and special education students. Pays the district s portion of Illinois Municipal Retirement Fund, social security and Medicare. Pays for construction projects/repairs. No expenses are paid out of this fund. Serves as a savings account so the district can loan itself funds for cash flow purposes (as we currently do now using Tax Anticipation Warrants). Pays attorney fees, liability insurance, and workers compensation expenses. Paysfor work identified by the Architect and approved by the Illinois State Board of Education as necessary in order for Millburn to remain in compliance with the State Life Safety Standards. 40 - Transportation 50 - IMRF / FICA 60 - Capital Projects 70 - Working Cash 80 - Tort 90 - Life Safety
Expenditure Highlights The budget includes some costs that are known as well as some that are unknown. Known Costs Examples: Base Salaries, Benefits, Recurring Technology Applications Unknown Costs Examples: Substitute Costs, Number of Staff Development Requests, New Special Education Students Changes to vendor contracts, student enrollment, employee count, labor agreements, and benefit plan design could impact future budgets. These are expenses that have the largest impact on the overall budget. Student enrollment remains flat and is expected to remain so for the next couple of years. The culture of the district is to only expend funds when necessary. Federal and state law, grant stipulations, and board policies regulate how revenue can be spent.
Revenue Highlights Revenues come from three sources: Federal (grants like IDEA and ESEA), State (Evidence Based Funding, transportation reimbursement), and Local (property taxes, student fees, and building rentals). The majority of Millburn s revenue comes from property taxes. The budget includes some costs that are known as well as some that are unknown. Known Revenue Examples: Evidence Based Funding, Majority of Federal Grant Dollars Unknown Revenue Examples: New donations, unforeseen grants or interest Changes to anticipated building rentals, interest, and federal or state funding could impact the budget. Elementary and Secondary School Emergency Relief (ESSER) grant ended in FY24.
Revenue FY24 and FY25 Comparison of Operating Funds Fund FY 24 Actual Revenue FY 25 Anticipated Revenue 10 Education $16,944,765.65 $16,395,479.00 20 Buildings & Grounds $2,013,124.79 $1,980,082.00 40 Transportation $1,659,316.51 $1,736,185.00 70 Working Cash $108,520.98 $95,496.00 * Revenue and Expenditure comparisons for the remaining funds are covered at the end of this presentation.
Summary of FY 25 Revenue & Expenses Budget for Public Display
State Form Budget Summary No Deficit Reduction Plan is required at this time
Education Fund - Revenues & Expenditures FY25 BUDGETED REVENUES - $16,395,479.00 FY25 BUDGETED EXPENDITURES - $16,809,188.00
Education Fund Expenditure Highlights Expenditure FY 24 Actual Expenditures FY 25 Budgeted Amount FY 25 Information Salaries $ 10,702,111.45 $ 11,689,511 - - $40,000 for lane changes $150,000 substitute costs Benefits $ 2,582,250.68 $ 2,801,106 - 2% increase to PPO Medical Insurance, 5% increase to HMO Medical, 4.5% increase to Dental PPO Cost of life insurance correlates to salary - Purchased Services $ 1,363,155.97 $ 1,218,512 - Includes software, repairs, professional development Supplies $ 268,391.44 $ 416,145 - Includes classroom, curriculum, food services, and general administrative supplies Non-Capitalized Equipment $ 117,884.06 $ 66,900 - Includes cafeteria equipment, furniture, tech equipment Other Objects $568,038.91 $603,264 - Includes out of district special education, termination benefits, and capital outlay
Operations/Maintenance Fund - Revenues and Expenditures FY25 BUDGETED REVENUES - $1,980,082 FY25 BUDGETED EXPENDITURES - $1,823,326
Operations/Maintenance Fund - Highlights Expenditure FY 24 Actual Expenditures FY 25 Budgeted Amount FY 25 Information Salaries - Includes 5 1.0 FTE summer help $590,142.34 $639,081 Benefits - 2% increase to PPO Medical Insurance, 5% increase to HMO Medical, 4.5% increase to Dental PPO Cost of life insurance correlates to salary - $166,661.25 $156,468 Purchased Services - HVAC, plumbing, water services, communications $388,376.53 $385,144 Supplies $364,299.90 $437,610 Capitalized Equipment - - Mower for elementary school Potential early childhood hallway updates $63,515.21 $41,164 Non-Capitalized Equipment - Grounds equipment so to spend less on contractors $119,642.29 $126,000
Transportation Fund Revenues and Expenditures FY25 BUDGETED REVENUES - $1,736,185 FY25 BUDGETED EXPENDITURES - $1,537,495
Transportation Fund - Highlights Expenditure FY 24 Actual Expenditures FY 25 Budgeted Amount FY 25 Information - Less out of district special ed routes Assumes hiring 2 new drivers - The majority of drivers do not take medical PPO - Reduced need for cabs for out of district special ed and homeless students - Reduction for out of pocket repair expense due to newly leased buses - Increased bus lease cost Salaries $567,076.88 $600,748 - Benefits $147,984.76 $153,161 Purchased Services $685,695 $689,686 Supplies $95,037.31 $90,700
Working Cash Fund Used as a savings account since property taxes are only collected twice a year, yet school districts have monthly obligations. Does not have any direct expenditures. $65,496 anticipated from property taxes, bringing the total available cash flow to approximately $904,393 as of June 30, 2025.
Remaining Funds Fund FY 24 Actual Revenue FY 25 Budgeted Revenue FY 24 Actual Expenditure FY 25 Budgeted Expenditures FY 25 Information Debt - Pays iPad lease - Paid off MMS Bond in FY24 $3,413,732.04 $5,674,969.87 $12,000 $148,427 IMRF/Social Security - Medicare/SS/municipal retirement contributions Personal Property Replacement Tax - $715,935.63 $667,461.20 $701,282 $740,879 Tort - Includes liability insurance/attorney fees $122,900.43 $87,241 $113,914 $104,217 Life Safety - Pays for life safety plan requirements, possibly cameras $13,508.56 $33,515 $9,450 $257500 Capital Projects - Pays for large scale building projects - Impact Fees $593,971.39 $275,639 $228,786.19 $344,500
Summary Program Initiatives Captured in FY25 Budget Attract and retain quality staff in all areas Salary increase District continues to fully pay employee only medical, dental, vision, and life insurance coverage Purchase new phonics curriculum at elementary school Replacing elementary school east gym floor Add additional interior and exterior cameras to both schools Replace copiers at both buildings (a total of five copiers)
Future Project Considerations The FY25 budget aligns with the district s current long-range financial plan based on what is known today. Parents prefer small class sizes New math curriculum at all grade levels Phonics curriculum in elementary grades Maintaining safe buildings and grounds During FY24, the district s architect completed its comprehensive facilities assessment and create a 10-year building and grounds plan. Interested parties, including staff and the board, will work through prioritizing large scale projects identified through the facilities plan. This project will help the district best determine its long range financial planning.
