MENTOR PUBLIC SCHOOLS2013-2014 FISCAL YEAR SUMMARY

JUNE 30, 2014

JULY 8, 2014

MENTOR PUBLIC SCHOOLSGENERAL FUND INCOME

  2013-2014 2013-2014 2013-2014 2013-2014 2013-2014 2013-2014 2013-2014

  BUDGET OCT. ESTIMATE MAY UPDATE MAY TO BUDGET JUNE 30, 2014 JUNE TO BUDGET JUNE TO MAY

             

REAL ESTATE TAXES $ 57,912,550 $ 58,625,246 $ 61,966,726 $ 4,054,176 $ 61,966,726 $ 4,054,176 $ -

             

PERSONAL PROPERTY TAXES $ - $ - $ 2,446 $ 2,446 $ 2,446 $ 2,446 $ -

             

PERSONAL PROPERTY HOLD HARMLESS H.B.66 $ 6,636,490 $ 6,636,490 $ 6,636,490 $ - $ 6,620,489 $ (16,001) $ (16,001)

             

UTILITY DEREGULATION PAYMENT $ - $ - $ 5,629 $ 5,629 $ 5,629 $ 5,629 $ -

             

TAX NOTE DEDUCTION (2004) $ - $ - $ - $ -      

             

HOMESTEAD & ROLLBACK $ 6,825,897 $ 6,909,955 $ 7,322,586 $ 496,689 $ 7,298,307 $ 472,410 $ (24,279)

             

STATE FOUNDATION $ 15,948,472 $ 15,948,472 $ 15,630,006 $ (318,466) $ 15,626,771 $ (321,701) $ (3,235)

FEDERAL STATE BUDGET STABLIZATION $ -            

FEDERAL EDUCATION JOBS $ -   $ - $ - $ - $ - $ -

             

CASINO TAX REVENUE SHARING $ 393,975 $ 400,564 $ 404,064 $ 10,089 $ 404,064 $ 10,089 $ -

             

OTHER STATE $ 115,000 $ 115,000 $ 192,458 $ 77,458 $ 109,674 $ (5,326) $ (82,784)

             

INTEREST $ 200,000 $ 200,000 $ 150,662 $ (49,338) $ 148,421 $ (51,579) $ (2,241)

             

STUDENT FEES $ 331,050 $ 331,050 $ 338,547 $ 7,497 $ 338,551 $ 7,501 $ 4

             

MEDICAID REIMBURSEMENT $ 200,000 $ 200,000 $ 280,336 $ 80,336 $ 285,379 $ 85,379 $ 5,043

             

MISCELLANEOUS $ 1,611,200 $ 1,611,200 $ 2,163,379 $ 552,179 $ 2,363,614 $ 752,414 $ 200,235

             

TRANSFERS & ADVANCES $ 10,000 $ 10,000 $ 10,000 $ - $ 10,000 $ - $ -

             

RETURN OF 1/3 OF C.A.R.E.S. ADVANCE $ 339,737 $ 339,737 $ 339,737 $ - $ 339,737 $ - $ -

RETURN OF C.A.R.E.S. SUBSIDIES              

             

TOTAL INCOME $ 90,524,371 $ 91,327,714 $ 95,443,066 $ 4,918,695 $ 95,519,808 $ 4,995,437 $ 76,742

             

MENTOR PUBLIC SCHOOLSGENERAL FUND INCOME SUMMARY

INCLUDES BUDGET STABILIZATION AND ED JOBS FUND

(2009-2010 THROUGH 2012-2013)

FISCAL YEAR REVENUE REVENUE REVENUE   TOTAL PERCENT DOLLARS

2009-2010 $ 97,856,440 -2.15% $ (2,153,811)2010-2011* $ 99,260,080 1.43% $ 1,403,640 2011-2012 $ 96,416,517 -2.86% $ (2,843,563)

2012-2013** $ 94,172,051 -2.33% $ (2,244,466)2013-2014*** $ 95,519,808 1.43% $ 1,347,757

2014-2015 $ 90,891,956 -4.84% $ (4,627,852)2015-2016 $ 88,090,476 -3.08% $ (2,801,480)

2016-2017 $ 86,043,370 -2.32% $ (2,047,106)2017-2018 $ 84,096,572 -2.26% $ (1,946,798)

 * $1,505,298 of delinquent taxes collected

**Includes $1,131,700 one time money from Lincoln Electric

and Great Lakes Mall tax settlements

*** $2,297,463 of delinquent taxes collected

MENTOR PUBLIC SCHOOLSGENERAL FUND EXPENSES

2013-2014 2013-2014 2013-2014 2013-2014 2013-2014 2013-2014 2013-2014 2013-2014 2013-2014

BUDGET OCT. ESTIMATE MAY UPDATE MAY TO BUDGET JUNE 30, 2014 ENCUMBERED EXP + ENC JUNE TO BUDGET JUNE TO MAY

                 

SALARIES & WAGES                  

REGULAR $ 54,502,787 $ 53,715,449 $ 53,070,329 $ (1,432,458) $ 52,981,505   $ 52,981,505 $ (1,521,282) $ (88,824)

SUPPLEMENTAL $ 1,386,654 $ 1,386,654 $ 1,386,654 $ - $ 1,358,322   $ 1,358,322 $ (28,332) $ (28,332)

SUBSTITUTE $ 1,802,000 $ 1,802,000 $ 1,449,744 $ (352,256) $ 1,459,453   $ 1,459,453 $ (342,547) $ 9,709

OVERTIME $ 300,000 $ 300,000 $ 272,736 $ (27,264) $ 273,197   $ 273,197 $ (26,803) $ 461

TUTORS $ 286,256 $ 297,096 $ 295,876 $ 9,620 $ 287,386   $ 287,386 $ 1,130 $ (8,490)

OTHER $ 37,000 $ 37,000 $ 29,500 $ (7,500) $ 25,787   $ 25,787 $ (11,213) $ (3,713)

$ 58,314,697 $ 57,538,199 $ 56,504,839 $ (1,809,858) $ 56,385,650 $ - $ 56,385,650 $ (1,929,047) $ (119,189)

BENEFITS                  

RETIREMENT $ 9,173,103 $ 9,353,252 $ 8,816,026 $ (357,077) $ 8,732,478   $ 8,732,478 $ (440,625) $ (83,548)

INSURANCES AND UNEMPLOYMENT $ 14,699,727 $ 14,631,335 $ 14,374,547 $ (325,180) $ 14,388,759 $ 42,600 $ 14,431,359 $ (268,368) $ 14,212

SEVERANCE & INCENTIVE $ 830,263 $ 830,263 $ 741,073 $ (89,190) $ 678,204   $ 678,204 $ (152,059) $ (62,869)

$ 24,703,093 $ 24,814,850 $ 23,931,646 $ (771,447) $ 23,799,441 $ 42,600 $ 23,842,041 $ (861,052) $ (132,205)

                 

PURCHASE SERVICES $ 2,097,286 $ 2,097,286 $ 2,023,042 $ (74,244) $ 1,653,634 $ 476,314 $ 2,129,948 $ 32,662 $ (369,408)

LEGAL SERVICES $ 300,000 $ 300,000 $ 271,074 $ (28,926) $ 243,355 $ 60,374 $ 303,729 $ 3,729 $ (27,719)

TRAVEL & MILEAGE $ 158,137 $ 158,137 $ 198,409 $ 40,272 $ 134,176 $ 70,124 $ 204,300 $ 46,163 $ (64,233)

REPAIRS $ 1,043,630 $ 1,043,630 $ 1,043,630 $ - $ 919,722 $ 372,216 $ 1,291,938 $ 248,308 $ (123,908)

RENTALS & LEASES $ 77,440 $ 77,440 $ 66,025 $ (11,415) $ 57,532 $ 10,726 $ 68,258 $ (9,182) $ (8,493)

SPECIAL EDUCATION TRANS. $ 483,060 $ 483,060 $ 430,660 $ (52,400) $ 284,077 $ 92,444 $ 376,521 $ (106,539) $ (146,583)

UTILITIES $ 1,736,659 $ 1,736,659 $ 1,717,546 $ (19,113) $ 1,619,144 $ 13,355 $ 1,632,499 $ (104,160) $ (98,402)

TUITION $ 5,188,602 $ 5,188,602 $ 5,239,556 $ 50,954 $ 4,688,213 $ 1,111,064 $ 5,799,277 $ 610,675 $ (551,343)

$ 11,084,814 $ 11,084,814 $ 10,989,942 $ (94,872) $ 9,599,853 $ 2,206,617 $ 11,806,470 $ 721,656 $ (1,390,089)

                 

EDUCATIONAL SUPPLIES $ 662,310 $ 662,310 $ 659,436 $ (2,874) $ 610,882 $ 62,745 $ 673,627 $ 11,317 $ (48,554)

TEXTBOOKS $ 1,690,708 $ 1,690,708 $ 1,706,494 $ 15,786 $ 1,374,347 $ 331,116 $ 1,705,463 $ 14,755 $ (332,147)

LIBRARY BOOKS & SUPPLIES $ 78,322 $ 78,322 $ 62,521 $ (15,801) $ 51,917 $ 11,106 $ 63,023 $ (15,299) $ (10,604)

OFFICE SUPPLIES $ 89,776 $ 89,776 $ 78,133 $ (11,643) $ 69,409 $ 7,328 $ 76,737 $ (13,039) $ (8,724)

MAINTENANCE SUPPLIES $ 610,518 $ 610,518 $ 843,808 $ 233,290 $ 704,382 $ 139,637 $ 844,019 $ 233,501 $ (139,426)

VEHICLE SUPPLIES $ 1,031,214 $ 1,031,214 $ 1,174,318 $ 143,104 $ 839,113 $ 335,539 $ 1,174,652 $ 143,438 $ (335,205)

$ 4,162,848 $ 4,162,848 $ 4,524,710 $ 361,862 $ 3,650,050 $ 887,471 $ 4,537,521 $ 374,673 $ (874,660)

                 

EQUIPMENT $ 1,051,626 $ 1,051,626 $ 2,625,542 $ 1,573,916 $ 2,214,839 $ 608,088 $ 2,822,927 $ 1,771,301 $ (410,703)

SCHOOL BUSES $ 403,724 $ 403,724 $ 346,091 $ (57,633) $ 346,091 $ 1,605 $ 347,696 $ (56,028) $ -

OTHER VEHICLES $ 27,847 $ 27,847 $ 13,484 $ (14,363) $ 13,483 $ 12,500 $ 25,983 $ (1,864) $ 1

$ 1,483,197 $ 1,483,197 $ 2,985,117 $ 1,501,920 $ 2,574,413 $ 622,193 $ 3,196,606 $ 1,713,409 $ (410,702)

                 

INSURANCE $ 357,450 $ 357,450 $ 356,783 $ (667) $ 349,299 $ 7,485 $ 356,784 $ (666) $ (7,484)

AUDITOR & TREASURER FEES $ 932,500 $ 932,500 $ 1,001,408 $ 68,908 $ 1,031,007 $ - $ 1,031,007 $ 98,507 $ 29,599

OTHER EXPENSES $ 477,702 $ 477,702 $ 249,354 $ (228,348) $ 222,999 $ 49,274 $ 272,273 $ (205,429) $ (26,355)

TECHNICAL AND CONTINGENCY $ 150,000 $ 150,000 $ - $ (150,000) $ - $ - $ - $ (150,000) $ -

$ 1,917,652 $ 1,917,652 $ 1,607,545 $ (310,107) $ 1,603,305 $ 56,759 $ 1,660,064 $ (257,588) $ (4,240)

                 

TRANSFERS & ADVANCES $ 436,500 $ 457,500 $ 305,514 $ (130,986) $ 174,266 $ 386,414 $ 560,680 $ 124,180 $ (131,248)

TRANSFER FOR SELF INSURANCE FUND $ - $ -   $ - $ - $ - $ - $ - $ -

TRANSFER TO DEBT FUND FOR 1/10TH OF 1% $ 207,188 $ 207,188 $ 209,625 $ 2,437 $ 207,188 $ - $ 207,188 $ - $ (2,437)

TRANSFER TO DEBT FUND FOR H.B. 264 $ 84,247 $ 84,247 $ 84,247 $ - $ 84,247 $ - $ 84,247 $ - $ -

TOTAL $ 102,394,236 $ 101,750,495 $ 101,143,185 $ (1,251,051) $ 98,078,413 $ 4,202,054 $ 102,280,467 $ (113,769) $ (3,064,770)

                 

C.A.R.E.S. ADVANCE $ 104,942 $ 104,942 $ 104,942 $ - $ 445,967 $ - $ 445,967 $ 341,025 $ 341,025

$ 102,499,178 $ 101,855,437 $ 101,248,127 $ (1,251,051) $ 98,524,380 $ 4,202,054 $ 102,726,434 $ 227,256 $ (2,723,745)

JUNE TO BUDGET $ 3,974,798

MENTOR PUBLIC SCHOOLS

GENERAL FUND EXPENSE SUMMARY

INCLUDES BUDGET STABILIZATION AND ED JOBS FUND

(2009-2010 THROUGH 2012-2013)

FISCAL YEAR EXPENSE EXPENSE EXPENSE

  TOTAL PERCENT DOLLARS

2009-2010 $ 94,914,471 -0.05% $ (51,709)

2010-2011 $ 95,965,467 1.11% $ 1,050,996

2011-2012 $ 96,150,016 0.19% $ 184,549

2012-2013 $ 96,235,920 0.09% $ 85,904

2013-2014 $ 98,524,380 2.38% $ 2,288,460

2014-2015* $ 104,407,247 5.97% $ 5,882,867

2015-2016 $ 108,330,373 3.76% $ 3,923,126

2016-2017 $ 110,835,102 2.31% $ 2,504,729

2017-2018 $ 115,931,978 4.60% $ 5,096,876

* Projected year over year budget increase is 2.51%

MENTOR PUBLIC SCHOOLSBUDGET PERFORMANCE SUMMARY

2009-2010 & 2010-2011 INCLUDES FEDERAL STIMULUS FUNDS2011-2012 & 2012-2013 INCLUDES ED JOBS FUNDS

FISCAL REVENUE REVENUE PERCENT EXPENSE EXPENSE PERCENT YEAR PERCENT DOLLARS ACCURACY PERCENT DOLLARS ACCURACY

  OVER BUDGET   UNDER BUDGET   

2003-2004 0.00% $ (5,120) 100.0% -1.80% $ (1,626,995) 98.20% 

2004-2005 1.70% $1,445,397 98.3% -4.10% $ (5,788,970) 95.9% 

2005-2006 5.60% $5,045,997 94.4% -3.40% $ (2,989,738) 96.6% 

2006-2007 6.80% $6,462,291 93.2% -4.40% $ (3,823,461) 95.6% 

2007-2008 4.30% $4,137,990 95.7% -2.70% $ (2,570,025) 97.3% 

2008-2009 3.50% $3,386,582 96.5% -4.70% $ (4,848,338) 95.3% 

2009-2010 2.34% $2,233,133 97.7% -3.40% $ (3,344,462) 96.6% 

2010-2011 2.49% $2,414,244 97.5% -4.70% $ (4,848,906) 95.3% 

2011-2012 4.28% $3,955,660 95.7% -4.48% $ (4,504,520) 95.5% 

2012-2013 4.89% $4,601,126 94.9% -3.47% $ (5,798,156) 94.3% 

2013-2014 5.50% $4,995,437 94.5% -3.88% $ (3,974,798) 96.2% 

AVERAGE 96.2% 96.1%

MENTOR EXEMPTED VILLAGE SCHOOL DISTRICT BOARD OF EDUCATIONGENERAL FUND SUMMARY

(INCLUDING BUDGET STABILIZATION AND ED JOBS FUNDING*)

  2010-2011 2011-2012 2012-2013 2013-2014 2014-2015 2015-2016 2016-2017 2017-2018

  ACTUAL* ACTUAL* ACTUAL* ACTUAL PROJECTION PROJECTION PROJECTION PROJECTION

 

BEGINNING BALANCE $ 53,956,668 $ 57,251,281 $ 57,517,782 $ 55,453,912 $ 48,247,287 $ 34,731,996 $ 14,492,099 (10,299,633)

 

INCOME $ 99,260,080 $ 96,416,517 $ 94,172,050 $ 95,519,808 $ 90,891,956 $ 88,090,476 $ 86,043,370 84,096,572

 

TAX NOTE DEDUCTION  

 

EXPENSES $ 94,635,796 $ 95,573,496 $ 95,809,759 $ 97,786,978 $ 103,809,980 $ 108,123,673 $ 110,632,302 115,731,128

 

TRANSFER FOR H.B. 264 & 1/10 0F 1% $ 310,460 $ 301,520 $ 286,161 $ 291,435 $ 597,267 $ 206,700 $ 202,800 200,850

TRANSFER TO C.A.R.E.S. $ 1,019,211 $ 275,000 140,000 $ 445,967 $ - $ - $ -  

ENDING BALANCE $ 57,251,281 $ 57,517,782 $ 55,453,912 $ 52,449,340 $ 34,731,996 $ 14,492,099 $ (10,299,633) $ (42,135,039)

 

RESERVE FOR ENCUMBRANCES $ 4,202,053

$ 48,247,287

JUNE 30, 2014

MENTOR PUBLIC SCHOOLS

SUMMARY OF LOST REVENUE TO TAX POLICY AND FUNDING POLICY CHANGES

  2005-2006 2006-2007 2007-2008 2008-2009 2009-2010 2010-2011 2011-2012 2012-2013 2013-2014

       

STATE FOUNDATION $ 236,244 $ 326,533 $ 247,919 $ 178,709 $ 359,647 $ 497,836 $ 1,743,568 $ 1,740,297 $ 1,589,377

BASE YEAR 2004-2005 ($17,216,148)        

SCHOOL BUS SUBSIDY $ 223,553 $ 179,479 $ 196,688 $ 145,417 $ 244,059 $ 244,059 $ 244,059 $ 244,059 $ 244,059

BASE YEAR 2004-2005 ($244,059)        

STATE T.P.P. HOLD HARMLESS $ - $ - $ 84,129 $ 469,793 $ 2,231,484 $ 2,032,369 $ 4,372,043 $ 6,284,376 $ 6,300,377

BASE YEAR 2006 ($12,920,866)        

$10,000 P.P. EXEMPTION $ 99,286 $ 226,160 $ 277,935 $ 380,883 $ 483,722 $ 483,722 $ 483,722 $ 483,722 $ 483,722

BASE YEAR 2004 ($483,722)        

UTILITY DEREG. (Hold Harmless) $ 56,952 $ 2,316 $ 2,261 $ 5,385 $ 4,301 $ 4,301 $ 735,945 $ 735,945 $ 735,945

BASE YEAR 2004 (735,945)        

       

ANNUAL LOST REVENUE $ 616,035 $ 734,488 $ 808,932 $ 1,180,187 $ 3,323,213 $ 3,262,287 $ 7,579,337 $ 9,488,399 $ 9,353,480

       

ACCUMULATED LOST REVENUE $ 1,350,523 $2,159,455 $3,339,642 $ 6,662,855 $ 9,925,142 $17,504,479 $26,992,878 $36,346,358

PERCENT OF TOTAL ANNUAL 0.7% 0.7% 0.8% 1.2% 3.4% 3.3% 7.9% 10.1% 9.8%

GENERAL FUND REVENUE LOSS