Assumptions Used in the Deficit Reduction Plan. EBF and Estimated New Tier Funding: - Equal Assessed Valuation and Tax Rates: - Employee Salaries and Benefits: - Short and Long Term Borrowing: - Educational Impact: - Other Assumptions: - Has the district considered shared services or outsourcing (Ex: Transportation, Insurance) If yes please explain: ESTIMATED LIMITATION OF ADMINISTRATIVE COSTS (School Districts Only)
Assumptions Used in the Deficit Reduction Plan. EBF and Estimated New Tier Funding: ‐ Equal Assessed Valuation and Tax Rates: ‐ Employee Salaries and Benefits: ‐ Short and Long Term Borrowing: ‐ Educational Impact: ‐ Other Assumptions: ‐ Has the district considered shared services or outsourcing (Ex: Transportation, Insurance) If yes please explain: ESTIMATED LIMITATION OF ADMINISTRATIVE COSTS (School Districts Only) (For Local Use Only) This is an estimated Limitation of Administrative Costs Worksheet only and will not be accepted for Official Submission of the Limitation of Administrative Costs Worksheet. The worksheet is intended for use during the budgeting process to estimate the district's percent increase of FY2021 budgeted expenditures over FY2020 actual expenditures. Budget information is copied to this page. Insert the prior year estimated actual expenditures to compute the estimated percentage increase (decrease). The official Limitation of Administrative Costs Worksheet is attached to the end of the Annual Financial Report (ISBE Form 50‐35) and may be submitted in conjunction with that report. An official Limitation of Administrative Costs Worksheet can also be found on the ISBE website at: Limitation of Administrative Costs
Assumptions Used in the Deficit Reduction Plan. EBF and Estimated New Tier Funding: ‐ Equal Assessed Valuation and Tax Rates: ‐ Employee Salaries and Benefits: ‐ Short and Long Term Borrowing: ‐ Educational Impact: ‐ Other Assumptions: ‐ Has the district considered shared services or outsourcing (Ex: Transportation, Insurance) If yes please explain: ESTIMATED LIMITATION OF ADMINISTRATIVE COSTS (School Districts Only) (For Local Use Only) This is an estimated Limitation of Administrative Costs Worksheet only and will not be accepted for Official Submission of the Limitation of Administrative Costs Worksheet. The worksheet is intended for use during the budgeting process to estimate the district's percent increase of FY2022 budgeted expenditures over FY2021 actual expenditures. Budget information is copied to this page. Insert the prior year estimated actual expenditures to compute the estimated percentage increase (decrease). The official Limitation of Administrative Costs Worksheet is attached to the end of the Annual Financial Report (ISBE Form 50‐35) and may be submitted in conjunction with that report. An official Limitation of Administrative Costs Worksheet can also be found on the ISBE website at: Limitation of Administrative Costs ESTIMATED LIMITATION OF ADMINISTRATIVE COSTS WORKSHEET (Section 17‐1.5 of the School Code) School District Name: Peotone CUSD 207‐U RCDT Number: 56099207U26 Description Funct. No. Estimated Actual Expenditures, Fiscal Year 2021 Budgeted Expenditures, Fiscal Year 2022
Assumptions Used in the Deficit Reduction Plan. Funds will be taken from fund balance/reserves. - EBF and Estimated New Tier Funding: N/A - Equal Assessed Valuation and Tax Rates: N/A - Employee Salaries and Benefits: N/A - Short and Long Term Borrowing: N/A - Educational Impact: N/A - Other Assumptions: - Has the district considered shared services or outsourcing (Ex: Transportation, Insurance) If yes please explain: ESTIMATED LIMITATION OF ADMINISTRATIVE COSTS (School Districts Only) (For Local Use Only)
Assumptions Used in the Deficit Reduction Plan. Revenue for our district is primarily local revenue. I am assume as a tax capped county, 5% Levy this year and 3% the next two years. We are also ass - EBF and Estimated New Tier Funding: We do not forsee changing Tiers and assume EBF for the district will not change. We are not using FY22 EBF numbers because of pandemic influx of - Equal Assessed Valuation and Tax Rates: As I noted above, we are assuming the EAV of the community will continue to go up by 6-7% AND CPI for the given years will allow for us to levy for - Employee Salaries and Benefits: We are eliminating three teaching spots over the next three years through retirement. We will realign our courses to be covered by current staff. - Short- and Long-Term Borrowing: Not needed.
Assumptions Used in the Deficit Reduction Plan. EBF and Estimated New Tier Funding: - Equal Assessed Valuation and Tax Rates: - Employee Salaries and Benefits: - Short- and Long-Term Borrowing: - Educational Impact: - Other Assumptions: - Has the district considered shared services or outsourcing (Ex: Transportation, Insurance)? If yes, please explain: xxxxx://xx000xxx-xx.xxxxxxxxxx.xxx/personal/opitzj_sd149_org/Documents/1-XXXXXX/Budget/SDJAB2023FORM 8/31/2022 ESTIMATED LIMITATION OF ADMINISTRATIVE COSTS (School Districts Only)
Assumptions Used in the Deficit Reduction Plan. EBF and Estimated New Tier Funding: - Equal Assessed Valuation and Tax Rates: - Employee Salaries and Benefits: - Short- and Long-Term Borrowing: - Educational Impact: - Other Assumptions: - Has the district considered shared services or outsourcing (Ex: Transportation, Insurance)? If yes, please explain: xxxxx://xxxxxx000-xx.xxxxxxxxxx.xxx/personal/mooneyl_mcusd185_org/Documents/Finance/2023 Budget/FY23MacombBudget Amended 1.xlsm 5/12/2023 ESTIMATED LIMITATION OF ADMINISTRATIVE COSTS (School Districts Only)
Assumptions Used in the Deficit Reduction Plan. A 5% increase in EAV for future fiscal years was used for local sources revenue. We feel this is reasonable since we have been around 5% for multiple consecutive years. Additional Federal revnue was included for FY22, FY22, and FY24 as a part of XXXXX funding. There is currently an additional $2.9 million to be paid to the Distirct during these three years. - EBF and Estimated New Tier Funding: It appears that due to the passing of the State budget, there will be a slight increase in EBF funding for FY22. This should amount to approximately $200K additional revenue for the District. We will assume no additional increases in EBF for FY23 and FY24. Assuming flat funding for other state revenue except a modest 2% incrase to the Transportation Categoricals. For the FY23 and FY24, additional EBF money will be moved to O&M from the Education Fund if necessary. You will notice that in the plan, in FY24, we moved an additional $200K of State Funding (EBF) from the Ed Fund to O&M. -
Assumptions Used in the Deficit Reduction Plan. Increased local revenue, flat or modest increase in EBF funding, slowing of expenditures year over year (aided by retirements) - EBF and Estimated New Tier Funding: Flat EBF funding for 2021-22, modest increases for the following two years - Equal Assessed Valuation and Tax Rates: EAV increased a higher percentage this year and with continued development in our community, we expect it to continue. - Employee Salaries and Benefits: We will benefit from several retirements over the next 3-4 years that will help us slow our expenditures each year until the budget is balanced - Short and Long Term Borrowing: We are planning a working cash bond issue of $1.5 to help support the Ed fund until we are ready for a potential referndum to increase tax rate - Educational Impact: The current plan includes the potential for reductions of staff, but it will ultimately depend on the reliability of revenue. Cuts may not be needed. - Other Assumptions: Expecting a boost in revenue for 2021-22 if the pandemic ends and enrollment returns to normal - Has the district considered shared services or outsourcing (Ex: Transportation, Insurance) If yes please explain: The district is considering all options to limit expenditures, including outsourcing services such as transportation, food service, and custodial ESTIMATED LIMITATION OF ADMINISTRATIVE COSTS (School Districts Only)
Assumptions Used in the Deficit Reduction Plan. The district is using reserves as planned expenditures for the FY2021-2022 fiscal year. The district has fund balances to support its deficit spending. - EBF and Estimated New Tier Funding: Tier 1; State adds $350M to education funding - Equal Assessed Valuation and Tax Rates: Increases at 5% annually - Employee Salaries and Benefits: Increases between 3% and 5% annually. - Short and Long Term Borrowing: No additional borrowing - Educational Impact: No educational impact. The FY2021-2022 budget that is in deficit spending will significantly improve instruction and learning. - Other Assumptions: None - Has the district considered shared services or outsourcing (Ex: Transportation, Insurance) If yes please explain: The district currently does these things.
