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Slide 1: 2008-09 BUDGET UPDATE David J. Root Superintendent
Slide 2: Refresher ► School Finance 101 – School Funding Tutorial State of the District 2007-08 ► Financial ► Media and Communication
Slide 3: Podcast Format ► Review Historical Information ► Goals for 2008-09 ► 2008-09 Projected Budget / Current Financial Position ► Savings & Solutions ► Budget vs. Teacher Salaries ► Future Goals
Slide 4: Historical Information ► ISBE Financial Watch List 2001-03 ► Early Tax Money Arrived in 2004 ► Masked Financial Distress of District ► Higher % of Early Tax Every Year ► Communication and Understanding ► Cash Shortfall ► Borrowed Money 2005-08
Slide 5: Historical End of the Year Balances
Slide 6: Four-Year Financial Timeline
Slide 7: Goals for 2007-08 ► Immediate budget freeze ► Seek new revenue streams ► Re-bid “Big Ticket” items ► Review efficiency of personnel & programs / attrition / reductions ► Increase fees ► Team effort to keep costs down ► Close middle school building temporarily ► Balance the budget & “Stop the Bleeding”
Slide 8: Goals for 2008-09 ► Balanced budget with a surplus ► No borrowing of money ($600,000) and address the cash flow problem ► Have enough surplus to start chipping away at our dependency on early tax $ ► Get off the State’s Financial Early Warning List
Slide 9: Projected Budget 2008-09
Slide 10: Savings & Solutions
Slide 11: Budget & Teacher Salaries
Slide 12: Future Goals ► Eliminate the need to borrow for operating expenses. ► Eliminate our dependency on Early Tax. ► Create a positive fund balance without early tax figured in the end of the year balance. ► Attain 1/3 of the school year in reserve in case State funding gets held and taxes are delayed – future “big ticket” needs ► Maintain the quality of education expected at Williamsville Schools
Slide 13: For More Information… Please feel free to contact me at: Dave Root, Superintendent of Schools rootd@wcusd15.org (217)566-2014 800 S. Walnut Williamsville, IL 62693