Woodland Community Consolidated School District 50 June 26, 2012 FY13 Tentative Budget Report

Woodland District 50's fiscal year: July 1, 2012 through June 30, 2013

FY13 tentative budget: Scheduled for approval at June 26, 2012 Board meeting

Tentative budget: Remains on display for public comment 30 or more days until final

adoption

Final budget adoption: Scheduled for September 25, 2012 Governing Board

meeting

Comparison of FY13 and FY12 Revenue

FY13 Revenues by Source of Funds

Comparison of FY13 and FY12 Expense

FY13 Expenses by Type

PCCS: Cost of funding over time

FY13 Fund Balance SummaryTentative Budget: June 26, 2012

Budget Changes from May Report

Transportation Revenue – Maintained at 74% proration. Effect: Increase in budgeted revenues of $181,500 provided the

FY13 quarterly payments are received within the FY13 fiscal year. General State Aid (GSA) Prorated at 89%

Effect: Reduce by $202,183 in FY13 due to a $329 per student increase in the tuition cost for PCCS and 89% proration of GSA. District GSA is expected to be reduced from $460,882 to $258,699.

Corporate Personal Property Taxes (CPPT) Effect: $60,000 loss projected due to lower State collections and

the allocation of CPPT to fund the Regional Office of Education (ROE).

Concern: Senate Appropriations Bill 2365 increasing GSA to 92% proration. Governor could cut Transportation funding and add back GSA. Net affect dependent on cumulative Governor vetoes.

No significant Expenditure adjustments were made since May 22,2012

Areas of review prior to finalizing FY13 Budget

Legislative Activity: Governor authority to Veto, sign or reduce specific line items in the budget

$1.3 million in delayed State revenues: Proration of FY13 State Grants and Local Tax receipts based on FY12 receipts

Review FY13 Working Cash transfers due to Cash flow

Finalizing Salary & Benefit BudgetsReview of all budget line items with administration

to refine expense requestsFY13 Budget Hearing and Budget Adoption

scheduled for September 25, 2012

Questions