MID-YEAR BUDGET REVIEW School Year 2016-2017 Nancy J Ross 505-330-3203 [email protected] GENERAL Revenue is dependent on state funding and, thus, the economy of our State as well as our Nation Though State funding has been restored from its plummet after 2009, the economy of our State has once again caused a drastic cut in the current year funding with the expectation of another cut for FY18. Legislative mandates may not be totally funded on the local level because of enrollment and/or demographic changes Additionally, PED continues to request the Legislature to place funding below the line to fund PEDs initiatives for education in our state.

Salaries and benefits typically continue to rise OPERATIONAL FUND State Equalization Guarantee % of Operational Revenue (Includes FY17 Reduction) 1600000 1400000 1200000 1000000 800000 600000 400000 200000 0 1

2 3 4 5 Nancy J Ross, FY17 Budget Analysis Salaries and Benefits Percentage of Budget All Funds, Over Time $1,000,000 $900,000 $800,000

$700,000 Salaries Benefits Other $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $FY17

FY16 FY15 FY14 FY13 Nancy J Ross, FY17 Budget Analysis FY17 Operational Budgeted Expenditures 0.15% 0.34% 8.72%

5.54% 16.19% 61.77% 0.98% 1.02% 5.30% Nancy J Ross, FY17 Budget Analysis FY17 Functional Budgeted Expenditures 8.72% 22.71%

Instruction, Administration, Plant Maintenance, Emergency Reserve, 68.57% Nancy J Ross, FY17 Budget Analysis STATUS OF BUDGETED EXPENDITURES Mosaic Academy Expenditure Report, Function Total Fiscal Year: 2016-2017 Func Description GL Budget .1000.50000.0000.000000.0000.0000

EXPENDITURES $917,496.00 .2100.50000.0000.000000.0000.0000 EXPENDITURES $96,522.00 .2200.50000.0000.000000.0000.0000 EXPENDITURES $26,928.00 .2300.50000.0000.000000.0000.0000 EXPENDITURES $31,407.00 .2400.50000.0000.000000.0000.0000 EXPENDITURES $252,422.00 .2500.50000.0000.000000.0000.0000 EXPENDITURES $82,166.00 .2600.50000.0000.000000.0000.0000

EXPENDITURES $277,278.00 .2700.50000.0000.000000.0000.0000 EXPENDITURES $2,200.00 .2900.50000.0000.000000.0000.0000 EXPENDITURES $30,000.00 .3100.50000.0000.000000.0000.0000 EXPENDITURES $5,000.00 OPERATIONAL - 11000 $1,721,419.00 Through January 31st YTD Encumbrance $371,719.38 $451,634.49 $27,543.43

$55,652.88 $4,949.67 $1,295.93 $4,024.94 $9,059.96 $127,986.15 $97,094.36 $42,227.98 $19,385.94 $128,275.16 $51,042.03 $0.00 $0.00 $0.00 $0.00 $0.00 $3,500.00 $706,726.71 $688,665.59

Budget Bal % Rem $94,142.13 10.26% $13,325.69 13.81% $20,682.40 76.81% $18,322.10 58.34% $27,341.49 10.83% $20,552.08 25.01% $97,960.81 35.33% $2,200.00 100.00% $30,000.00 100.00%

$1,500.00 30.00% $326,026.70 18.94% STATUS BY TYPE OF EXPENDITURE Mosaic Academy Expenditure Report, Function Total Through January 31st Fiscal Year: 2016-2017 AccountDescription Number GL Budget .51000.0000.000000.0000.0000 SALARIES $797,656.00 .52000.0000.000000.0000.0000 BENEFITS

$322,165.00 .53000.0000.000000.0000.0000 PROF & TECHNICAL $99,733.00 .54000.0000.000000.0000.0000 PROP SERV $257,352.00 .55000.0000.000000.0000.0000 OTH SERVICES $101,354.00 .56000.0000.000000.0000.0000 SUPPLIES $41,221.00 .57000.0000.000000.0000.0000 PROPERTY $71,938.00 .58000.0000.000000.0000.0000 EMERG RESERV $30,000.00

OPERATIONAL - 11000 $1,721,419.00 YTD Encumbrance Budget Bal % Rem $340,194.94 $400,628.50 $56,832.56 7.12% $131,224.31 $143,137.45 $47,803.24 14.84% $33,765.66 $56,458.60 $9,508.74 9.53% $112,765.87 $49,560.09 $95,026.04 36.92% $60,579.77 $31,404.17 $9,370.06 9.24%

$18,929.49 $7,476.78 $14,814.73 35.94% $9,266.67 $0.00 $62,671.33 87.12% $0.00 $0.00 $30,000.00 100.00% $706,726.71 $688,665.59 $326,026.70 18.94% Remember Save Harmless ?? Still there but we havent received this additional funding for several years. Small school size adjustment is now at stake !! SEG INCREASE: FY15 FY14 FY13 FY12 FY11

21,537 17,535 11,857 3,849 37,278 PAUSE FOR THOUGHT Salaries and Benefits Percentage of Budget All Funds, Over Time $1,000,000 $900,000 $800,000 $700,000

FY17 FY16 FY15 FY14 FY13 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000

$Salaries Benefits Other Salaries and Benefits Percentage of Budget FY17, All Funds 26.08% $373,019 $282,315 $779,566 Salaries

Other 19.55% 54.37% Benefits Fact Considering the state of the economy, management has been cautious in its efforts to protect Mosaic Academy Cash balance has remained fairly stable as a result of proper management by the Council and Administration. Any decreases in cash were a result of thoughtful consideration for the needs of the students and staff of Mosaic Academy and with a plan for replacement in the subsequent year The final unit value for FY16 has been set Loss to Mosaic Academy is $21,682 for current year

Our T & E (Training and Experience) index is reduced for next years budget hypothetically losing $98,191 based on FY17 final funding (demographics and final unit value) Fact Living within our means is a common sense approach In our homes In our charter school In our state and nation Occasional deficit spending CAN work but only when serious discussions have preceded the decision to do so and when a definitive plan is in place to ensure the cash balance goal will be re-established Continued control of cash balance is necessary in order to maintain stability Review of cash balance goal Budget decisions to protect cash balance goal while providing for the classroom Understand the impact of using cash balance for recurring expenses ANTICIPATE THE STATES INVOLVEMENT IN CASH BALANCES

Are We Living Within Our Means ? 1,600,000 1,400,000 1,200,000 1,000,000 Revenue Expenditures 800,000 600,000 400,000 200,000 0 2017 2016

2015 2014 2013 Nancy J Ross, FY17 Analysis Standard Focus for Budgeting Expenditure of resources must clearly reflect the goals of the Charter Every decision made should be based on these questions What is best for the students in our classrooms? Are we living within our means? Have we considered our cash balance goal? Now potentially overridden by the Governor/Legislature Which also means:

Utilizing best practices Thoughtful decision making at all levels Long-range planning even within a given year Efficient and effective operations Budget Impact for FY17 and FY18 2016 Special Session Reduction in the unit value reduced our SEG revenue by $21,678 for the current school year 2017 Legislative Information Signed by Governor Publicized impact for school year 2016-2017 Claw back of FY16 Audited cash, SB0114 (also HB0007) Cost to Mosaic Academy, $26,335

At 3% of 2016 Program Cost, the reduction could have been $257,715 Per Moodys bond rating company, this will impact the bond rating for school districts 2017 Legislative Information Tentative Potential impact for school year 2017-2018 Additional decrease estimated at 2% reduction in Program Cost (SEG); for Mosaic, $29,490 Minimum hourly wage for some employee groups, HB0134; for Mosaic, the estimated cost for Mosaic I.A.s, $33,118 SB329 minimum teacher salaries (no salary schedule change) ERB contributions increase for EMPLOYEE HB0273, Size Adjustment Units; $10,997 each year for 5 years then Governor wants more $$ to education but usually with

some under PED control Other 2017 Legislation HB41 Minimum Administrative salary, $50,000 times a responsibility index HB130 and SB200 Expanded National Board certified teachers definition to Licensed school employees HB273 Specific Charter issues SB35 Sufficiency funding, through SEG, for FY18 SB89 PED authority to create a new school district when a district exceeds 40,000 students SB135 Federal Impact Aide credit for Charters SB256 Length of school day SB290 DISTRICT waivers when funding is cut SB305 Virtual Charter Schools, SEG limited to 75% SB313 Charter buildings, facility requirements and lease allocations SB383 Charter Pre-K has first priority for Charter K SJR2 Move back to a State Board of Education and State Superintendent

Other items to consider for FY18 T & E decrease (Training and Experience Index) Increased salary costs as teachers move to higher levels of licensure Salaries of employees Rising insurance costs Cost of the educational retirement and retiree healthcare benefit; Cost of repair of equipment and facilities as they age Cost of permanent facilities and the potential loss of lease assistance funding from PSCOC Other costs related to the world economy QUESTIONS

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