2-9-10 PMA Budget Presentation
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2-9-10 PMA Budget Presentation 2-9-10 PMA Budget Presentation Presentation Transcript

  • Belvidere Community Unit School District 100 Financial Planning Program Presented by: Scott Smith PMA Financial Network, Inc. February 9, 2010 Integrity Commitment Performance
  • Financial Planning Program Data Elements Five Years of Audited Annual Financial Reports FY2010 Budget Tax Levy / Extensions Equalized Assessed Valuation Maximum Tax Rates Enrollment Staffing Ratios Compensation and Benefits Provided Belvidere CUSD 100 All assumptions provided by District 2 Copyright 2010 PMA Financial Network, Inc. Presented February 9, 2010
  • Financial Planning Program Revenue FY 2010 Budget Revenue by Source – Operating Funds Federal Other State 14% 8% General State Aid Levy 23% 43% Other Local 12% Source: District FY10 Budget Belvidere CUSD 100 All assumptions provided by District 3 Copyright 2010 PMA Financial Network, Inc. Presented February 9, 2010 View slide
  • Financial Planning Program Revenue Assumptions Revenue Equalized Assessed Valuation (EAV) Growth 2009 Levy – 1.5% decline in total EAV $14.2 million New Property 2.8% decline in existing EAV (reassessment) 2010 Levy – 7.5% decline in total EAV $5 million New Property 8% decline in existing EAV (reassessment) General State Aid Foundation Level currently $6,119 FY2011 - $160 decrease assumed FY2012 and future years - $150 increase assumed each year Categorical State Funding FY2010 – Assumes two payments FY2011 through FY2015 – Assumes four payments Belvidere CUSD 100 All assumptions provided by District 4 Copyright 2010 PMA Financial Network, Inc. Presented February 9, 2010 View slide
  • Financial Planning Program Revenue A ssumptions Total EAV % Change 15% 13.8% 13.3% 10% 10.4% 5% 6.2% 2.8% 2.8% 0% 0.8% -1.5% -5% -7.5% -7.3% -10% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Actual Projected Source: District Projections Belvidere CUSD 100 All assumptions provided by District 5 Copyright 2010 PMA Financial Network, Inc. Presented February 9, 2010
  • Financial Planning Program Revenue A ssumptions New Growth (In Millions) Millions $60.0 $57.3 $57.2 $50.0 $40.0 $40.0 $30.0 $29.3 $20.0 $10.0 $14.2 $7.0 $7.0 $7.0 $7.0 $0.0 $5.0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Actual Projected Source: District Projections Belvidere CUSD 100 All assumptions provided by District 6 Copyright 2010 PMA Financial Network, Inc. Presented February 9, 2010
  • Financial Planning Program Revenue A ssumptions Existing EAV % Change 8% 6% 6.6% 6.0% 4% 5.1% 2% 3.3% 2.0% 2.0% 0% -2.8% 0.0% -2% -4% -6% -8.0% -8.0% -8% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Actual Projected Source: District Projections Belvidere CUSD 100 All assumptions provided by District 7 Copyright 2010 PMA Financial Network, Inc. Presented February 9, 2010
  • Financial Planning Program Revenue A ssumptions Consumer Price Index (CPI) - Levy Years 5.0% 4.5% 4.0% 4.1% 3.5% 3.0% 3.4% 3.3% 2.5% 2.7% 2.5% 2.5% 2.5% 2.5% 2.5% 2.5% 2.0% 1.5% 1.0% 0.5% 0.1% 0.0% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Actual Projected Source: District Projections Belvidere CUSD 100 All assumptions provided by District 8 Copyright 2010 PMA Financial Network, Inc. Presented February 9, 2010
  • Financial Planning Program Revenue A ssumptions General State Aid Millions $30 $25 $26.3 $25.8 $22.7 $22.3 $22.9 $20 $21.5 $21.0 $19.7 $19.9 $18.2 $15 $16.1 $10 $5 $0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Actual Projected Source: District Projections Belvidere CUSD 100 All assumptions provided by District 9 Copyright 2010 PMA Financial Network, Inc. Presented February 9, 2010
  • Financial Planning Program Expenditures FY 2010 Budget Expenditures by Object – Operating Funds Capital Outlay 1% Other Objects 5% Supplies And Materials 6% Purchased Services 24% Salary Costs 49% Benefits 15% Source: District FY10 Budget Belvidere CUSD 100 All assumptions provided by District 10 Copyright 2010 PMA Financial Network, Inc. Presented February 9, 2010
  • Financial Planning Program District Expenditure A ssumptions Expenditures Salaries FY2011 – No wage increases FY2012 through FY2015 – 2% to 3% (CPI increases) Medical Insurance FY2011 and future years – 10% increase each year Purchased Services, Supplies, Capital Outlay CPI increase each year One-time exceptions accounted for accordingly Belvidere CUSD 100 All assumptions provided by District 11 Copyright 2010 PMA Financial Network, Inc. Presented February 9, 2010
  • Financial Planning Program District Enrollment A ssumptions Enrollment History and Projections 9,000 8901 8931 8856 8767 8651 8680 8593 8507 8370 8422 8,000 7982 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Actual Projected Source: District Projections Belvidere CUSD 100 All assumptions provided by District 12 Copyright 2010 PMA Financial Network, Inc. Presented February 9, 2010
  • Financial Planning Program District Staffing A ssumptions FTE Retirees Replaced Retirees Staff Change FY - 2010 581.0 11 FY - 2011 571.2 11 11 (10) FY - 2012 565.5 16 11 (6) FY - 2013 559.8 20 16 (6) FY - 2014 554.2 2 20 (6) FY - 2015 548.7 0 2 (6) Belvidere CUSD 100 All assumptions provided by District 13 Copyright 2010 PMA Financial Network, Inc. Presented February 9, 2010
  • Financial Planning Program Operating Funds – Projected Deficits Re ve nue vs. Expe nditure s Analysis $100,000,000 $80,000,000 $60,000,000 $40,000,000 $20,000,000 $0 ($4,135,179) ($3,745,280) ($1,108,524) ($2,030,419) ($5,341,357) ($4,972,947) ($20,000,000) FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 Revenue Expenditures Excess Deficit Belvidere CUSD 100 All assumptions provided by District 14 Copyright 2010 PMA Financial Network, Inc. Presented February 9, 2010
  • Financial Planning Program Operating Funds – Projected A ggregate Fund Balances Fund Balance $35,000,000 $31,749,748 $30,000,000 $26,408,391 $25,000,000 $21,435,444 $20,000,000 $17,690,164 $16,581,640 $14,551,221 $15,000,000 $10,000,000 $5,000,000 $0 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 Belvidere CUSD 100 All assumptions provided by District 15 Copyright 2010 PMA Financial Network, Inc. Presented February 9, 2010
  • Financial Planning Program Operating Funds – Projected A ggregate Fund Balances 2010 2011 2012 2013 2014 2015 $35,000,000 $31,749,748 $30,000,000 $26,408,391 $25,000,000 $21,435,444 $21,433,610 $20,000,000 $17,690,164 $16,581,640 $15,088,318 $14,551,221 $15,000,000 $9,789,926 $10,000,000 $5,530,274 $5,000,000 $3,597,561 $1,249,691 $0 Educational Operations and Transportation IMRF Working Cash Tort Maintenance 2010 2011 2012 2013 2014 2015 FY-End Balances Low-Point Balance Belvidere CUSD 100 All assumptions provided by District 16 Copyright 2010 PMA Financial Network, Inc. Presented February 9, 2010
  • Disclaimer The information contained herein is solely intended to suggest/discuss potentially applicable financing applications and is not intended to be a specific buy/sell recommendation, nor is it an official confirmation of terms. Any terms discussed herein are preliminary until confirmed in a definitive written agreement. The analysis or information presented herein is based upon hypothetical projections and/or past performance that have certain limitations. No representation is made that it is accurate or complete or that any results indicated will be achieved. In no way is past performance indicative of future results. Changes to any prices, levels, or assumptions contained herein may have a material impact on results. Any estimates or assumptions contained herein represent our best judgment as of the date indicated and are subject to change without notice. Examples are merely representative and are not meant to be all-inclusive. The information set forth herein was gathered from sources which we believe, but do not guarantee, to be accurate. Neither the information, nor any options expressed, constitute a solicitation by us for purposes of sale or purchase of any securities or commodities. Investment/financing decisions by market participants should not be based on this information. You should consider certain economic risks (and other legal, tax, and accounting consequences) prior to entering into any type of transaction with PMA Securities, Inc. or PMA Financial Network, Inc. It is imperative that any prospective client perform its own research and due diligence, independent of us or our affiliates, to determine suitability of the proposed transaction with respect to the aforementioned potential economic risks and legal, tax, and accounting consequences. Our analyses are not and do not purport to be appraisals of the assets, or business of the District or any other entity. PMA makes no representations as to the actual value which may be received in connection with a transaction nor the legal, tax, or accounting effects of consummating a transaction. PMA cannot be relied upon to provide legal, tax, or accounting advice. You should seek out independent and qualified legal, tax, and accounting advice from outside sources. If posted on a webpage, this information has been prepared for informational and educational purposes and does not constitute a informational solicitation to purchase or sell securities, which may be done only after client suitability is reviewed and determined. Services offered only Services by PMA Securities, Inc. and this registered representative presenter, in particular, are available only in the following state: IL. This presenter, information is not an advertisement of services available in any state other than those listed above. Belvidere CUSD 100 All assumptions provided by District 17 Copyright 2010 PMA Financial Network, Inc. Presented February 9, 2010