Proposed Final Budget Overview 2024-2025
Explore the detailed breakdown of the 2024-2025 proposed final budget, including expenditures by function, anticipated revenues from local, state, and federal sources, and more. Dive into the budget development process and understand the financial landscape for the upcoming year.
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2024-2025 Proposed Final Budget May 28, 2024 Dr. Marcia Stokes, SFO
Agenda Budget Development Process Budget Overview Proposed Expenditures By Function and by Object Anticipated Revenues Local, State, and Federal 24-25 Proposed ESSER Expenditures
2024-25 Proposed Final 30.7800 $62,714,512 126,573,052 20,827,115 1,600,000 $211,714,679 2023-2024 PDE 2028 30.7800 $61,453,916 114,812,728 46,563,089 REVENUE Mill Rate 6000 Local Sources 7000 State Sources 8000 Federal Sources 9000 Other Revenue Total Revenue EXPENDITURES 1100 Regular Instruction Programs 1200 Special Instruction Programs 1300 Vocational Education Programs 1400 Other Instructional Programs 1500 Non-Public School Programs 1600 Adult Education Programs 1800 Pre-Kindergarten 2100 Support Services -Students 2200 Support Services Instructional Staff 2300 Support Services Administration 2400 Support Services Pupil Health 2500 Support Services Business 2600 Operation & Maintenance 2700 Student Transportation Services 2800 Support Services Central 2900 Other Support Services 3200 Student Activities 3300 Community Services 4600 Existing Building Improvement Services 5000 Debt Service/Transfers Total Expenditures 0 $222,829,733 $70,808,223 33,915,196 3,295,377 3,563,403 363,978 387,162 816,012 6,135,552 7,056,857 10,508,712 2,706,985 1,957,221 15,289,078 5,280,105 5,531,794 39,125 1,260,884 983,432 25,669,939 27,260,698 $222,829,733 $68,718,819 37,222,347 3,334,590 3,028,209 601,916 396,841 687,462 7,057,596 9,571,289 11,311,870 2,797,952 2,208,991 16,888,629 5,658,119 5,443,972 38,524 1,324,371 1,163,043 7,998,509 26,261,630 $211,714,679 Budget Overview
2024-25 Estimated Revenues
2024-25 Proposed Final 2023-24 PDE 2028 40,589,364 39,911,709 55,000 1,914,500 1,294,410 6111 Real Estate Taxes 6113 Public Utility Realty Tax 6114 Pmt in Lieu of Current Tax 6140 Current Act 511-Flat Rate Assessments 6150 Proportional Assessments (511) 6400 Delinquency on Taxes Levied 6500 Earnings on Investments 6700 Revenue from LEA Activities 6800-Rev from IU/Pass Through Funds 6910 Rentals 6920 Contrib/Donations Private Sector 6940 Tuition from Patrons 6960 SVCS provide to other LEAs/Govt Units 6990 Refunds and Other Misc. Revenue Total Local Sources 53,000 1,872,500 970,000 Revenues- Local 8,053,782 6,131,026 1,325,000 50,000 1,325,506 80,328 275,000 85,000 8,510,001 6,244,500 3,000,000 50,000 1,204,248 338,554 275,000 0 0 10,000 275,000 275,000 61,453,916 62,714,512
Property Taxes Proposed Mill Increase 0% Mill rate remains at 30.78 Property Tax Relief funds of $4,101,390 (State Revenue) Increase in the amount of the Homestead Exemption for qualified taxpayers due to a lesser number of qualified properties (5,541 for 24-25 vs. 5,561 for 23-24) and an increase in the Property Tax Relief funds.
Homestead Exemption 2023-2024 Qualified for Homestead exemption 5,561 Estimated Exemption Amount $20,496 Estimated Value of Exemption $631 2024-2025 Qualified for Homestead exemption 5,541 Estimated Exemption Amount $24,140 Estimated Value of Exemption $743
Example Tax Bill Comparison With Homestead Exemption Mill Rate Assessed Valuation Homestead Exclusion Amt Taxable Assessed Value Estimated Tax Bill Increase/Decrease Amount 2023-24 2024-25 30.78 $54,600 $20,496 $34,104 $1,050 30.78 $54,600 $24,140 $30,460 $938 -$112
MILL MILL RATE INCREASE YEAR 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25* 27.92 27.80 27.80 28.80 29.78 29.78 29.78 30.78 30.78 30.78 0.00 -0.12 0.00 1.00 0.98 0.00 0.00 1.00 0.00 0.00 Mill Rate History Average Increase: 0.29
Assessment Growth History 3.00% Property Tax Assessment Growth 2.00% 1.00% 0.00% -1.00% -2.00% 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
2024-25 Proposed Final 89,714,289 2023-24 PDE 2028 81,299,301 2,788,673 7111 Basic Education Funding 7112 Basic Education Funding - SS 7160 Tuition for Orphans Subsidy 7250 Migratory Child Subsidy 7271 Special Ed. Funding 7292 Pre-K Counts 7299 Other Program Revenue 7310 Transportation 7320 Rental & Sinking fund 7330 Health Services 7340 State Property Tax Reduction Allocation 7360 Safe Schools/Learn & Serve 7361 PCCD Grant - COVID 19 7505 Ready to Learn Block Grant 7599 Other State Revenue 7810 State Share of SS and Medicare 7820 State Share of Retirement Contrib Total State Sources 0 0 0 0 0 7,874,330 680,000 100,000 2,070,000 2,194,390 100,000 3,499,438 184,766 8,087,892 680,000 25,000 2,070,000 2,258,863 75,000 4,101,391 694,000 Revenues- State 0 0 1,807,251 1,807,251 0 0 0 3,101,734 13,957,632 126,573,052 12,214,579 114,812,728
2023-24 Budget-PDE 2028 2024-25 Proposed Final 8110 Pymt for Federally Impacted Area 8390 Grant in Aid Directly from Fed 8514 Title I 8515 Title II 8516 Title III 8517 Title IV 8610 Homeless Assistance Act 8690 Other Restricted Federal Grants 8732 ARRA QSCB 8741 CARES Act-ESSER I 8742 CARES Act GEER 8742 ESSER II 8743 ESSER III 8749 Other CARES Act Funding 8751 ARP ESSER Learning Loss 8752 ARP ESSER Summer Programs 8753 ARP ESSER Afterschool Programs 8755 ARP ESSER Emergency Relief 8810 Medical Assistance (ACCESS) 8820 Medical Assistance/Admin Total Federal Sources 0 0 35,000 717,420 8,629,883 497,430 233,854 514,740 0 103,395 8,124,583 497,430 299,590 1,625,334 0 Revenues- Federal 67,864 418,787 404,594 0 0 0 0 0 0 33,000,000 8,000,000 0 0 2,000,000 250,000 210,000 70,000 500,000 100,000 46,563,089 540,300 0 0 0 500,000 50,000 20,827,115
Expenditures -Function
Expenditures -Object
1000- Instruction 2024-25 Proposed Final 37,957,205 29,309,340 5,421,211 2023-24 Budget-PDE 2028 38,056,746 27,429,557 8,816,546 100 Salaries 200 Employee Benefits 300 Purchased Prof & TechSvcs 400 Purchased Property Services 500 Other Purchased Services 600 Supplies 700 Property 800 Other Objects Total 1000 Expenditures- Instruction 1,996 2,800 34,547,881 4,220,125 38,380,103 2,819,025 0 0 76,500 100,500 113,149,351 113,990,184
2000- Support Services 2024-25 Proposed Final 19,677,702 14,044,583 8,293,316 6,852,180 6,359,967 5,057,565 458,600 233,029 60,976,942 2023-24 Budget-PDE 2028 18,724,814 13,478,668 4,791,075 6,326,905 6,136,574 4,690,839 128,800 227,754 54,505,429 Expenditures- Support Services 100 Salaries 200 Employee Benefits 300 Purchased Prof & TechSvcs 400 Purchased Property Services 500 Other Purchased Services 600 Supplies 700 Property 800 Other Objects Total 2000
3000- Operation of Non-Instructional Services 2024-25 Proposed Final 1,143,051 715,188 114,865 55,700 209,810 229,800 2023-24 Budget-PDE 2028 1,093,983 665,839 Expenditures- Operation of Non- Instructional Services 100 Salaries 200 Employee Benefits 300 Purchased Prof & TechSvcs 400 Purchased Property Services 500 Other Purchased Services 600 Supplies 700 Property 800 Other Objects Total 3000 74,473 55,300 204,350 98,371 40,000 12,000 2,244,316 5,500 13,500 2,487,414
4000 - Facilites Acquisition, Construction, & Improvement Services Expenditures- Facilities Acquisition, Construction, & Improvement Services 2024-25 Proposed Final 2023-24 Budget-PDE 2028 300 Purchased Prof & TechSvcs 400 Purchased Property Svcs 600 Supplies 700 Property Total 4000 620,200 24,049,739 500,000 500,000 25,669,939 38,000 7,960,509 0 0 7,998,509
5000 - Other Expenditures & Financing Uses Expenditures- Other Expenditures & Financing Uses 2024-25 Proposed Final 2022-23 Budget-PDE 2028 300 Purchased Prof & TechSvcs 800 Other Objects 900 Other Financing Uses Total 5000 0 0 13,823,779 13,436,919 27,260,698 12,182,317 14,079,313 26,261,630
Revenues Assumptions Property Taxes-0 Mill increase Basic Education Funding-50% of the Governor s proposed budget Special Education Funding-50% of the Governor s proposed budget Additional rental income-1010 N. 7thStreet Leases Investment earnings-rates remain close to current rates Grants: COPS Grant, STOP grant, Title Grants, CSI Grant, Stronger Communities Grant, ESSER III, ARP ESSER Learning Loss
ESSER Funding 2024-2025 Budget: $8,540,300 One time source of funding-9/30/2024 ESSER III ARP ESSER Set Asides-Learning Loss
2024-2025 ESSER Funded Expenditures ESSER Set Aside: $540,300 ESSER III $8,000,000 Salaries & Benefits for ESSER Administrator HVAC equipment replacements Steele Elementary renovation Phase II and Phase III of the Curriculum Audit UnboundEd Standards Training Academic supplies Teacher salaries and benefits for curriculum work
Empowering Academic Achievers and Lifelong Learners 2024-2025 Budget Adoption June 27, 2024
