District 11 approves fiscal year 2013 budget
BY KELLY JOHNSON – ECM PUBLISHERS
Approval came at the board’s June 25 meeting. Board Chairman Tom Heidemann was not at the meeting.
Overall, the district’s proposed revenues for fiscal year 2013, which runs from July 1, 2012, through June 30, 2013, are expected to total $471,600,410. Total expenditures are proposed at $481,773,045.
These expenditures include $4.4 million in “strategic investments” designed to improve student learning and achievement.
The district is expected to carry over a fund balance of $141,537,290 from fiscal year 2012.
At the end of fiscal year 2013, the district’s fund balance is expected to total $131,364,656.
In the general fund, there is $407,791,185 in proposed revenues and $415,485,469 in proposed expenditures.
In all, the district is anticipating a decrease of $3,583,760 or 4.7 percent in property tax revenue from the fiscal year 2012 budget amount. Property tax revenue in fiscal year 2013 is anticipated to be $72,977,804.
State revenue is set to increase by $5,949,866 or 2 percent from fiscal year 2012 levels. In the coming year, District 11 anticipates receiving $310,116807 from the state.
Revenue in the general fund includes a $50 per pupil unit increase approved by the Legislature, bringing the per pupil unit to $5,224.
According to Michelle Vargas, the district’s chief financial officer, declining enrollment of 420 students is projected in the budget, or 490 pupil units.
General fund expenditures include a 3.5 percent increase in salaries to $255,172,743 in fiscal year 2013.
Benefits will also see a 4.2 percent increase to $76,417,434.
Food service fund
Proposed fiscal year 2013 revenues in the food service fund are $17,952,242 and proposed expenditures are $19,456,788.
No price increases are planned for food services in the 2012-2013 school year.
District 11’s federal revenue for the food service fund is anticipated to increase $740,000 from an increased free and reduced lunch program enrollment. Revenue from local sales are anticipated to decrease by $570,000 due to the economy and declining enrollment impacting participation in the school lunch program.
According to Vargas, there are 4.4 million lunches served throughout the district.
Community service fund
Proposed fiscal year 2013 revenues in the community service fund are $18,454,833. Proposed expenditures are $18,285,551.
Local revenue in this fund is anticipated to increase by $93,000 primarily due to increased enrollment in Adventures Plus and community school participation.
There will be a purchased services decrease primarily due to reduction in costs associated with lease space vacated at the end of fiscal year 2012. There is also a minor reduction in salaries and benefits due to the elimination of K extra programs at sites that no longer offer fee-based all day, every day kindergarten.
Capital projects fund
The capital projects fund will remain unchanged from fiscal year 2012. There is a projected fund balance of $721,792 on June 30. Proposed fiscal year 2013 revenues and expenditures are both set at $3,699,313. There is a projected fund balance of $721,792 at the conclusion of the 2013 fiscal year.
Debt service fund
The district’s debt service fund is projected to have a $4,948,492 fund balance June 30. Projected fiscal year 2013 revenues are $22,497,837. Projected expenditures are $22,660,923. There is a projected fund balance of $4,785,406 on June 30, 2013.
Vargas said the fund’s revenue is decreasing by $462,000 because of the retirement of debt. Expenditures are also decreasing by $313,000 due decreased interest and principal payments on declining overall long-term debt.
The trust fund will have a projected fund balance of $29,807,472 on June 30. There are $1,205,000 in proposed revenues in fiscal year 2013 and $2,185,000 in proposed expenses, leaving a projected fund balance of $28,827,472 on June 30, 2013.
By law, the district is required to approve the fiscal year 2013 budget by June 30.