february 14, 2011 2011/2012 proposed budget middle bucks institute of technology
TRANSCRIPT
FEBRUARY 14, 2011
2011/2012 PROPOSED BUDGET
Middle Bucks Instituteof Technology
New Initiatives
Challenges
Assumptions
Salaries & Wages Teachers - updated for contract settlement @ NHSD Administrative & Support Staff - 2% increase
Medical & Prescription Benefits - used 19% for rate increase
PSERS – used certified rate 8.65%
Dental - net reduction for expected claims
Workers’ Compensation - level with current year
Overall Budget Change2011/12 vs. 2010/11
General Fund + Lease Rental = $109,481 increase
$9,651,216 vs. $9,541,735
Increase = 1.15%
General Fund & Lease Rental
2011/2012 2010/2011
$ %
General Fund $8,185,717 $8,074,685
$111,032 1.38%
Lease Rental – Authority
$1,465,499 $1,467,050
-$1,551 -0.11%
Total $9,651,216 $9,541,735
$109,481 1.15%
General Fund – Receipts from Members
2011/12 vs. 2010/11
Member District Increase = $115,682
$7,052,697 vs. $6,937,015
Increase = 1.67%
Allocated using 3 year averaging of ADM
Proposed Member Contributions
2011/2012 2010/2011
$ %
Receipts from Members – GF $7,052,697 $6,937,015 $115,682 1.67%
Lease Rental Paid Directly to Authority
$1,465,499 $1,467,050 -$1,551 -0.11%
Total Member Contribution $8,518,196 $8,404,065 $114,131 1.36%
General Fund Expenditures2011/12 vs. 2010/11
Expenditure Budget Increase = 1.38%
$8,185,717 vs. $8,074,685
Increase $111,032
Components of Increase
New teaching position $ 87,236Net increase – salaries & wages $ 107,527Net increase – health insurance $63,659Net decrease - dental claims ($26,846)Net increase - PSERS $27,042Supplies for new Health program $9,580Decrease in Electricity & Natural Gas ($65,000)All other ($92,166)
Net increase $111,032
OTHER BUDGETS
Capital Reserve Fund
Funded at discretion of Executive Council using unspent current year budget contribution – proposed $75,000
Funds to be used for acquisition of program equipment & capital repairs and maintenance to facilities
Traffic signal $30,000Digital Road Sign $75,000Matching funds $100,000
OTHER BUDGETS
Adult Education $152,800 vs. $152,990 Fall & Spring Evening Programs Industry Specific Training
Production Fund $ 302,960 vs. $353,850 Live work Student Built Modular House Aspirations Salon Extreme Student fees MBIT Summer School & Summer Enrichment Camp
OTHER BUDGETS : PROPRIETARY & FIDUCIARY
Proprietary Li’L Bucks Preschool in Learning
Programs for Toddlers & Preschool children
Fiduciary Student Activities Fund
Skills USA HOSA
Next Step
Finalize General Fund & Lease Rental Budget March 14, 2011 Executive Council Meeting
Finalize Other Budgets March 14, 2011 Executive Council Meeting
Questions