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September 10, 2020 School Board Meeting/Final Public Budget Hearing
Title
Operating, Debt Service, Capital Projects, Special Revenue - Food Service, Special Revenue - Other, Internal Service Casualty, Internal Service Medical, and Enterprise Funds Budget Amendments for June 30, 2020
Meeting Date(s)
Consent w/o Information - 09/10/2020
Consent Type
Discussion

Operating Fund Budget Amendment Resolution #10

Operating Revenue (pages 1-2) has increased $3,921,736 since the last budget amendment.

Federal sources have increased $1,587,390.

Main Drivers:  
Medicaid Reimbursement 363,797
Misc. Federal Through State 1,280,653

 

State revenue has increased $942,431.

Main Drivers:  
State License Tax 78,105
Voluntary PreK 176,350
Miscellaneous State 687,001

 

Local sources have increased $1,237,531.

Main Drivers:  
Ad Valorem 1,917,396
Income/Investments 1,573,829
Additional Ad Valorem (1,663,041)
Miscellaneous Local (647,111)

 

Other Financing sources have increased $154,383.

Main Drivers:  
Transfers from Capital Projects 1,062,033
Transfer from Enterprise Fund (939,340)

 

Appropriations have also increased or decreased based on budget amendments done by individual schools and departments.

Debt Service Fund Budget Amendment Resolution #2

Revenues and other financing sources increased by a net amount of $44,333 since Resolution #1 was approved by the School Board on January 14, 2020. Appropriations have increased or decreased based on budget amendments.

Capital Projects Fund Budget Amendment Resolution #2

Revenues and other financing sources have increased by a net amount of $8,371,196 since Resolution #1 was approved by the School Board on January 14, 2020. Appropriations have increased/decreased based on budget amendments. Main Drivers for Resolution #2 are:

Revenues  
State sources for District including PECO and CO&DS $685,172
State grants ($1,623,584)
Sales Surtax $2,464,553
Impact Fees $4,049,661
Miscellaneous local including interest on investments $2,648,038
Other financing sources - sale of property $287,962
   
Other Financing Sources:  
Transfer to General Fund from Capital $209,124

 

The transfer from the capital fund to the general fund is recommended to cover facility related operating needs that will be expended in FY2020-21. These funds were originally planned for capital renewal needs that will be funded by LCI.

Special Revenue - Food Service Fund Budget Amendment Resolution #2

Revenues and other financing sources have decreased by a net amount of $1,621,071 since the last budget amendment approved by the School Board on January 14, 2020. Revenue variances are primarily due to COVID 19 school related closures during the 2019-20 school year. Appropriations have increased/decreased based on budget amendments. Main drivers for Resolution #2 are:

School Lunch Reimbursement ($4,389,591)
School Breakfast Reimbursement ($1,583,134)
Child Care Food Program ($340,731)
Summer Feeding Program $6,915,396
Student Lunches ($718,245)
Adult Breakfast/Lunch ($101,137)
Student & Adult A La Carte ($1,444,139)

 

Special Revenue - Other Fund Budget Amendment Resolution #1

Revenues and other financing sources have decreased by a net amount of $9,443,466 since the adopted budget dated September 10, 2019. Appropriations have increased/decreased based on budget amendments. Main drivers for Resolution #1 are:

IDEA ($4,945,716)
Title I ($2,722,268)
Head Start ($304,723)
ROTC ($169,699)
Vocational Education $108,233
Title II ($205,691)
Title III ($157,448)
21st Century Schools ($747,226)
Miscellaneous Federal ($288,687)

 

Internal Service Casualty Fund Budget Amendment Resolution #1

Revenues have increased $910,842 since the adopted budget. This increase is due to premiums and interest.

In addition, appropriations have increased or decreased based on budget adjustments.

Internal Service Medical Fund Budget Amendment Resolution #1

Revenues have decreased $65,269 since the adopted budget. This change is due to a decrease in premiums and an increase in interest.

In addition, appropriations have increased or decreased based on budget adjustments.

Enterprise Fund Budget Amendment Resolution #1

Revenues have decreased $1,866,650 due to the loss of fee revenue from the program being shuttered mid-March.

In addition, appropriation have increased or decreased based on budget adjustments.

Recommendation

Approve resolution #10 to amend the Operating Fund Budget as of June 30, 2020.

Approve resolution #2 to amend the Debt Service Fund Budget as of June 30, 2020.

Approve resolution #2 to amend the Capital Projects Fund Budget as of June 30, 2020.

Approve resolution #2 to amend the Special Revenue - Food Service Fund Budget as of June 30, 2020.

Approve resolution #1 to amend the Special Revenue - Other Fund Budget as of June 30, 2020.

Approve resolution #1 to amend the Internal Service Casualty Fund Budget as of June 30, 2020.

Approve resolution #1 to amend the Internal Service Medical Fund Budget as of June 30, 2020.

Approve resolution #1 to amend the Enterprise Fund Budget as of June 30, 2020.

 

Authority for Action
2009.53(1), 237.02 FS
Involves Expenditure of Funds Directly in the Classroom
No
Source of Funding
Financial Impact
FY Amount Budgeted Fund Cost Center Project Function Object Program
                 
Legal Counsel Review
No
Contact
Karen Strickland, Director of Budgeting, Cost Accounting & FTE, ext. 11610 Jo Ann Clark, Director of Accounting Services, ext. 11660 Kevin Thornton, Director of School Food & Nutrition, ext. 11690 Cindy Lesinski, Chief Financial Officer, ext. 11600
Attachments
Operating Fund Budget Amendment #10 - June 30, 2020.pdf
2019-20 Debt Service Budget Amendment #2.pdf
2019-20 Capital Project Budget Amendment #2.pdf
2019-20 Special Revenue-Food Service Fund Budget Amendment #2.pdf
2019-20 Special Revenue-Other Budget Amendment #1.pdf
2019-20 Internal Service-Casualty Funds (71X) Budget Amend #1.pdf
2019-20 Internal Service-Medical Funds (731) Budget Amend #1.pdf
2019-20 Enterprise Fund Budget Amendment #1.pdf
Agenda Plus