Illini Central Community Unit School District #189 2008-2009 Budget (FY ’09) Presented to the Board of Education August 21, 2008.

Illini Central Community Unit Illini Central Community Unit School District #189School District #189

2008-2009 Budget (FY ’09)2008-2009 Budget (FY ’09)

Presented to the Board of Education August 21, 2008Presented to the Board of Education August 21, 2008

Budget 2008-2009Budget 2008-2009Informational NotesInformational Notes

Changes to the Illinois Program Changes to the Illinois Program Accounting Manual (IPAM)Accounting Manual (IPAM)– The biggest change was the change The biggest change was the change

of the 80 Fund from RENT to TORT. of the 80 Fund from RENT to TORT. Tort monies, which are generated Tort monies, which are generated through local revenue, have through local revenue, have traditionally been spread out traditionally been spread out between the Education Fund, between the Education Fund, Operation and Maintenance Fund, Operation and Maintenance Fund, and Transportation Fund. and Transportation Fund.


Illini Central uses Cash Basis Illini Central uses Cash Basis Accounting:Accounting: Revenues and Revenues and expenditures are recognized at the expenditures are recognized at the time cash is received or disbursed.time cash is received or disbursed.

Beginning fund balances shown Beginning fund balances shown (7/1/08) are tentative at this time (7/1/08) are tentative at this time as the 2007-08 audit has not as the 2007-08 audit has not been finalized and adjusting been finalized and adjusting entries have not yet been posted.entries have not yet been posted.


Public School Budgets are Public School Budgets are estimatesestimates of of revenues and expenditures. With revenues and expenditures. With much uncertainty with regard to much uncertainty with regard to funding from Springfield, this budget funding from Springfield, this budget was prepared using conservative was prepared using conservative estimates:estimates:– Revenues are budgeted using Revenues are budgeted using lowlow

estimatesestimates– Expenditures are budgeted using Expenditures are budgeted using highhigh

estimatesestimates


The small increase in state The small increase in state funding that is reflected in the funding that is reflected in the budget is due to the increase in budget is due to the increase in the foundation level from $5,734 the foundation level from $5,734 to $5,959 (+ $225).to $5,959 (+ $225).

All funds are estimated to have a All funds are estimated to have a positive fund balance at the end positive fund balance at the end of FY ’09.of FY ’09.


The deficit spending in the Operation The deficit spending in the Operation and Maintenance fund are a result of the and Maintenance fund are a result of the renovation projects approved for West renovation projects approved for West Campus during the past fiscal year.Campus during the past fiscal year.

Similarly there is an estimated account Similarly there is an estimated account balance in the Fire Prevention and balance in the Fire Prevention and Safety account for FY ‘09 as anticipated Safety account for FY ‘09 as anticipated project costs were under the $4.0 million project costs were under the $4.0 million bond issuance.bond issuance.


The FY ‘09 budget depicts a positive The FY ‘09 budget depicts a positive budget with total ending revenues in all budget with total ending revenues in all funds exceeding total expenditures in all funds exceeding total expenditures in all funds.funds.

The goal will be to project future The goal will be to project future revenues and expenditures and reduce revenues and expenditures and reduce spending where possible seeking spending where possible seeking additional revenue streams where additional revenue streams where available.available.

Budget Summary DetailBudget Summary Detail“Operating” Funds“Operating” Funds

State Defined “Operating” State Defined “Operating” FundsFunds– Education Fund Education Fund – Operations & Maintenance Operations & Maintenance – Transportation FundTransportation Fund– Working Cash FundWorking Cash FundThese funds are used in the formula to determine These funds are used in the formula to determine

the financial profile of a school districtthe financial profile of a school district

RevenuesRevenues

Revenue SourcesRevenue Sources

Local Sources:Local Sources: Tax Revenues from LevyTax Revenues from Levy Corporate Personal Property Replacement TaxCorporate Personal Property Replacement Tax Food Service Revenues (Breakfast/Lunch Sales)Food Service Revenues (Breakfast/Lunch Sales) Textbook RentalTextbook Rental InterestInterest

State Sources:State Sources: General State AidGeneral State Aid Grant RevenuesGrant Revenues Sub-Categoricals (Special Ed/Transportation Sub-Categoricals (Special Ed/Transportation

Reimbursements)Reimbursements)

Federal Sources:Federal Sources: Title FundingTitle Funding MedicaidMedicaid I.D.E.A. I.D.E.A. Grant Revenues Grant Revenues

Revenue SourcesRevenue SourcesOperating FundsOperating Funds

LocalLocal $3,327,850 - $3,327,850 - 41%41%

StateState $4,263,167 $4,263,167 - 52% - 52%

Fed. $619,327 - 7%Fed. $619,327 - 7%

Total Total $8,210,344 - $8,210,344 - 100%100%

Local

State

Federal

Operating Fund Revenues

ExpendituresExpenditures

ExpendituresExpendituresOverviewOverview

ISBE classifies expenditures using the ISBE classifies expenditures using the following categories:following categories:SalariesSalariesEmployee BenefitsEmployee BenefitsPurchased ServicesPurchased ServicesSupplies and MaterialsSupplies and MaterialsCapital OutlayCapital OutlayOther Objects Other Objects (Includes Tuition, etc.)(Includes Tuition, etc.)Non-Capitalized EquipmentNon-Capitalized EquipmentTermination BenefitsTermination Benefits

Education Fund Education Fund ExpendituresExpenditures

Salaries $ 4,639,520 70% Salaries $ 4,639,520 70%

Benefits $ 813,498 11%Benefits $ 813,498 11%

Purch Serv $ 495,400 8%Purch Serv $ 495,400 8%

Supplies $ 337,231 5%Supplies $ 337,231 5%

Cap Outlay $ 99,600 2%Cap Outlay $ 99,600 2%

OtherOther $ 275,200 4% $ 275,200 4%

TotalTotal $ 6,660,449$ 6,660,449 100.0%100.0%

Salaries

Benefits

Purch Serv

Supplies

Cap Outlay

Other

Operations & Operations & MaintenanceMaintenance

Salaries

Benefits

Purch Serv

Supplies

Cap Outlay

Other

Total

SalariesSalaries $ 227,500 23% $ 227,500 23%

BenefitsBenefits $ 19,850 2% $ 19,850 2%

Purchase Services $ 460,950* 47%Purchase Services $ 460,950* 47%

SuppliesSupplies $ 238,250** 24% $ 238,250** 24%

Cap Outlay Cap Outlay $ 34,500 3% $ 34,500 3%

OtherOther $ 10,200 1% $ 10,200 1%

TotalTotal $ 991,250 $ 991,250 100.0%100.0%

*Includes Telephone & Water/Sewer Service **Includes Gas/Electric Service

Budget Summary DetailBudget Summary Detail“Operating” Funds - Education “Operating” Funds - Education FundFund

Education FundEducation Fund

Budgeted RevenuesBudgeted Revenues $ 6,787,287 $ 6,787,287Budgeted ExpendituresBudgeted Expenditures ($ 6,660,449) ($ 6,660,449)

Surplus/(Deficit)Surplus/(Deficit) $ 126,838 $ 126,838

Estimated Fund Balance 7/1/08 Estimated Fund Balance 7/1/08 $ 1,490,489 $ 1,490,489Projected Ending Fund Balance 6/30/09Projected Ending Fund Balance 6/30/09 $ 1,617,327*$ 1,617,327* **This balance represents restricted use fundsThis balance represents restricted use funds

Budget Summary DetailBudget Summary Detail“Operating” Funds - Operations & “Operating” Funds - Operations & Maint FundMaint Fund

O&M FundO&M FundBudgeted RevenuesBudgeted Revenues $ 623,875 $ 623,875Budgeted ExpendituresBudgeted Expenditures ($ 991,250) ($ 991,250)

Surplus/(Deficit)Surplus/(Deficit) ($ 367,375) ($ 367,375)

Estimated Fund Balance 7/1/08Estimated Fund Balance 7/1/08 $ 482,784 $ 482,784Projected Ending Fund Balance 6/30/09 Projected Ending Fund Balance 6/30/09 $115,409*$115,409* **This balance represents restricted use funds earmarked for This balance represents restricted use funds earmarked for

facilityfacility

Budget Summary DetailBudget Summary Detail“Operating” Funds - Transportation “Operating” Funds - Transportation FundFund

Transportation FundTransportation Fund

Budgeted RevenuesBudgeted Revenues $ 749,382$ 749,382

Budgeted ExpendituresBudgeted Expenditures ($ 621,100) ($ 621,100)

Surplus/(Deficit) Surplus/(Deficit) $ 128,282 $ 128,282

Estimated Fund Balance 7/1/08 $ Estimated Fund Balance 7/1/08 $ 773,566773,566Projected Ending Fund Balance 6/30/09 Projected Ending Fund Balance 6/30/09 $901,848$901,848

Budget Summary DetailBudget Summary Detail“Operating” Funds - Working Cash “Operating” Funds - Working Cash FundFund

Working Cash FundWorking Cash Fund

Budgeted RevenuesBudgeted Revenues $ 49,800 $ 49,800Budgeted ExpendituresBudgeted Expenditures ($ 0)($ 0)

Surplus/(Deficit)Surplus/(Deficit) $ 49,800 $ 49,800

Estimated Fund Balance 7/1/08 $ 546,219Estimated Fund Balance 7/1/08 $ 546,219Projected Ending Fund Balance 6/30/09 Projected Ending Fund Balance 6/30/09 $596,019 $596,019

Budget Summary DetailBudget Summary DetailTotal “Operating” FundsTotal “Operating” Funds

RevenuesRevenues $ 8,210,344 $ 8,210,344

Expenditures ($ 8,272,799)Expenditures ($ 8,272,799)

Surplus/(Deficit ($ Surplus/(Deficit ($ 62,455)*62,455)*

*The District budgets conservatively … Revenues *The District budgets conservatively … Revenues are budgeted on the “low” side and expenditures are budgeted on the “low” side and expenditures are budgeted at “worse case”.are budgeted at “worse case”.

Budget Summary DetailBudget Summary DetailOther Funds – Debt Services (Bond Other Funds – Debt Services (Bond and Interest)and Interest)

Debt Services FundDebt Services Fund

Budgeted RevenuesBudgeted Revenues $ 129,150 $ 129,150Budgeted Expenditures ($ 128,000)Budgeted Expenditures ($ 128,000)


Estimated Fund Balance 7/1/08 $Estimated Fund Balance 7/1/08 $ 29,560 29,560Projected Ending Fund Balance 6/30/09Projected Ending Fund Balance 6/30/09$30,710$30,710

Budget Summary DetailBudget Summary DetailOther Funds – IMRF/Social Security FundOther Funds – IMRF/Social Security Fund

IMRF/Social Security FundIMRF/Social Security Fund

Budgeted RevenuesBudgeted Revenues $ 261,775 $ 261,775

Budgeted ExpendituresBudgeted Expenditures ($ 238,525)($ 238,525)


Estimated Fund Balance 7/1/08Estimated Fund Balance 7/1/08 $ 363,927 $ 363,927

Projected Ending Fund Balance 6/30/09Projected Ending Fund Balance 6/30/09

$387,177$387,177

Budget Summary DetailBudget Summary DetailOther Funds – Tort FundOther Funds – Tort Fund

Tort FundTort Fund

Budgeted RevenuesBudgeted Revenues $ 124,500 $ 124,500Budgeted ExpendituresBudgeted Expenditures ($ 106,500)($ 106,500)


Estimated Fund Balance 7/1/08Estimated Fund Balance 7/1/08 $ $ 0* 0*Projected Ending Fund Balance 6/30/09Projected Ending Fund Balance 6/30/09$18,000$18,000

**Tort has previously been split between Education, Tort has previously been split between Education, Operation and Maintenance, and Transportation. Operation and Maintenance, and Transportation. At this time fund balances remain in those At this time fund balances remain in those accounts and should until legislation dictates accounts and should until legislation dictates otherwise.otherwise.

Budget Summary DetailBudget Summary DetailOther Funds - Life Safety FundOther Funds - Life Safety Fund

Life Safety FundLife Safety Fund

Budgeted RevenuesBudgeted Revenues $ 34,800 $ 34,800 Budgeted Expenditures Budgeted Expenditures ($ 3,240,000)($ 3,240,000)

Surplus/(Deficit) Surplus/(Deficit) ($ 3,205,200) ($ 3,205,200)

Estimated Fund Balance 7/1/08 $ Estimated Fund Balance 7/1/08 $ 3,601,5713,601,571Projected Ending Fund Balance 6/30/09Projected Ending Fund Balance 6/30/09$396,371$396,371

Illini Central Community Unit School District #189 2008-2009 Budget (FY ’09) Presented to the Board of Education August 21, 2008.

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informational notesthe