PARKLAND SCHOOL DISTRICT PROPOSED FINAL GENERAL FUND BUDGET FISCAL YEAR 2023-2024 Presented to: Parkland Board of School DirectorsPARKLAND SCHOOL DISTRICT 2023-2024 PROPOSED FINAL GENERAL FUND BUDGET PLO ee LiPe} 2023-2024 Total Revenues $21,382,253 $217,339,613 42.9% Total Expenditures $216,244,747 $25,387,002 +6.5% Shortfall ($5,074,177) ($8,047,389) Proposed Millage Increase 2.5% (0.40 mills) $3,579,580 Shortfall after Millage Increase ($4,467,809) Fund Balance Transfer to Capital Reserve ($5,000,000) Total Estimated Use of Fund Balance ($9,467,809) ‘The 2023-2024 Proposed Final Budget Includes a total taxable assessed value of $9,005,231,800, generating $142,448,108 of current real estate taxes which includes a 2.5% MILLAGE INCREASE, $3,579,580 for Real Estate Taxes. The estimated value of 1 mill is $9,006,613. The rem: shortfall of $4,467,809 will be funded using Fund Balance, plus an additional $5,000,000 transfer of Fund Balance to the Capital Reserve Fund. SIGNIFICANT BUDGETARY INCREASES- (oo MeN) Salaries $4,061,917 Benefits (healthcare, PSERS, SS, W/C, U/C) 3,796,491 Special Education Services 565,969 Charter School Tuition 554,250 Total $8,978,627 Rutetad urd 2022-2023 Millage Rate 15.90 mills Proposed 2023-2024 Millage Rate 16.30 Average Residential Assessed Value $247,502 2023-2024 Average Residential Tax Bill $4,034 Increase over 2022-2023 Tax $98.38PARKLAND SCHOOL DISTRICT TAX MILLAGE RATE 2023-2024 PROPOSED FINAL BUDGET Proposed Final | Max Allowable Millage Increase | Act 1 Index 4.40% [2022-23 Millage Rate 15.90] |2023-24 Proposed Millage Rate ge Increase Over Prior Year New Tax Revenue Generated * [2023-24 Budget Shortfall (w/o Millage Increase) ** Millage Rate Increase [2023-24 Revised Budget Short $ — (9,467,809)] $__(7,182,774)| [Average Residential Taxpayer Impact on Tax Increase JAverage Assessed Value (Residential) *** Estimated Tax Bill _ Dollar ($) increase to Average Taxpayer 247,502 4,096.63 | 5 150,000 2,482.79 97.78 [Assessed Value $150,000 Estimated Tax Bill 400,000] $400,000] 76 260.76 [Assessed Value $400,000 Estimated Tax Bill Dollar ($) Increase to Average Taxpayer * Assessed value used for calculation as of April 2023. Amount represents the change in Assessed [Value from July 2022 through April 2023. + 2023-24 Budget Shortfall includes the additional one time $5,000,000 Capital Reserve Transfer. /=** average Assessed Value calculated by the Property Classification Taxable Totals report from Lehigh County Assessment dated February 2, 2023.PARKLAND SCHOOL DISTRICT 2023-2024 PROPOSED FINAL BUDGET BUDGET SUMMARY REVENUES BY SOURCE _ ‘2021-2022 Actual] 2022-2023 Budget | 2023-2024 Budget Local Source: $ 156,445,744 | $ 160,605,187 |$ 171,282,108 ~ [Commonwealth Sources - 36,670,245 39,155,698 44,103,477 al Sources 6,002,946 11,409,685 5,533,608 | [Other Financing Sources 839,032 =| - ‘TOTAL REVENUES - [S__ 199,957,967 /$ 211,170,570 |§ 220,919,198 | Fund Balance Appropriation - General Fund Budget : 5,074,177 9,467,809 HTOTAL SOURCES OF FUNDS INCLUDING FUND BALANCE $ 199,957,967 | $ 216,204,747 | $ 730,387,002 EXPENDITURES BY FUNCTION - 72021-2022 Actual | 2022-2023 Budget | 2023-2024 Budget [Instruction - Regular Programs S 90,319,420 | $ 98,795,409 |$ 99,588,778 faz Instruction - Special Programs 30,471,334 31,607,842 34,722,725 ‘Vocational Education Programs 4,290,189 | 4,851,291 | 5,240,918 Other instructional Programs 829,912 791,875 810,245, 1237,77 | _1,256,891 1,266,532 32 | $ 137,303,348 |$ 141,629,198 Community College Program ‘TOTAL INSTRUCTION 12100 __| Pupil Personnel Services [ 7,439,886 «8,148,937 9,305,554 | 200 Instructional Staff Services 5 ana 749 5,345,039 / 5,338,114 2300 Administration Services _ | 9,181,942 [2400 Pupil Health Services 2,652,137 2,992,267 2,959,325, 2500 Business Services 2,034,316 2,053,355 | 2,084,238 12600 Operation & Maintenance Services 15,684,936 16,239,335 17,933,402 2700. [Transportation Services 31,014,807 11,687,224 13,790,392 2800 __|Central Support Services — 4,587,436 |__—_—3,725,208| _—_—5,294,466 }2900 Support Services - Intermediate Unit I 205,686 205,000 205,000, TOTAL SUPPORT SERVICES $ [Ss _60114,160/ $64,781,212 }3200 Student Activities 2627115. 086,26 | }s300 Community Services : : ‘TOTAL OPER. OF NON-INSTR. SVCS. [$2,627,115 | $ 3,036,269 acilties Aca, Construction & Improvements a3 | > "TOTAL FACILITIES ACQ, CONSTRUCTION & IMPROV |S 20,423 $2,000,000 | $ 5 loTHeR Finaweine uses _ 5100 Debt serce/Other Expenditures & Financing Uses TOTAL OTHER FINANCING USES 1 [TOTAL EXPENDITURES $ 203,443,454 § 216,244,747 | $ 230,387,002 [ NOTE: $100 Debt Service/Other Expenditures & Financing Uses for 2023-2024 includes the $5,000,000 Capital Reserve Transfer 15,486,389 $14,343,427 $ 20,940,323 15,486,389 $ 14,343,427 | $ 20,940,323PARKLAND SCHOOL DISTRICT [GENERAL FUND BUDGET 2023-2028 LOCAL, STATE, FEDERAL & OTHER REVENUE SOURCES Torte || moa || — aoa sym] —% FUNDING SOURCES ‘ACTUAL ‘BUDGET ‘Yr Fe ‘Guance Chance | REAL ESTATE ASSERSMENT | |S aas0.062300 | 3165270500 17x] MIWLAGE RATE Ea 3550 1550 040 | 752%] mae 2003 | 2022 2008 symm e000 toca: souAces ‘ByDGET ‘Yros8 (GuaNGe | CHANGE: 111 [Curent Real alex 326818750] | $ 13663490 || §_134,76,106 3 5816188 112 [ner Rea Estate Tax 3188131 2.000,000 6ag.8 250000 6113 [Pubic Us sky Tax 18228 130000, 102 769 '5 000 6116 [Paymentsin leu of Tax Revenue 000 “4000 5 7 6143 [Leal Serves Tax ams i000 30838 6151 [Esmed Income Tax 4277,490/| | 2,600,000 || 310,708 ona00 | | [55 [nea estate Transfer Tax 4945 205 '3750,00 || 321178 2,000 ‘5400 [Delingent Rea Estate Tax 2486308, 2,000,000 54358 20,000 6540 [terest on investments 56550 200.000 || 235.92 300,000, {6710 [Disrie Actes Gate Receipts 3471 300 145740 350000 16890 [Federal Revenve from LEAs 3.955082 1526267 73680 aso733| | | 6510 Remal Revenue 25600 20,00 308725 30000| ‘contbutions/Oorains Piva Soares 27557) | 425,000 130510 75,000] ution Receits 08508 300,000 145,570 350000, ‘Miscellaneous Lea Revere 464891 310,00 305,604 340,000, [roTAL tocat souRcES 3 seas 708 || § 160305, || a8 427 3 iariesa | 67 7000 STATE SOURCES i 7itt [Basi Education Funding S_sasa7eo| [$ —9gsqana || sanaae0 450 7342 Sci Security Reimbursement 335001 Baits || 2550716 1075 | 7160_Tlon fr Cour laced Ciren 755086, 250.000 : - 7250_[ gator Ciren 120) = - 7270 |Special vestion Funding 38362 || 3805200 35508 7310 Transportation Subsy 3485300 2,608 759 5.136 7520-[Retal/ Sinking Fund Payments 3003729 500,00 (20000) 7530 Heath Serves 165,508 185,00 Hi 7340 State Property Tax Albeaton 2.755506 7a, 7500 [era Grants S552 551722 = 7820 Retreen Reimbursement TeaToss0 | 16.650350, 30) frova stave SOURCES 336670245 | [$39,155,598 | S__aga7.779 | aa sooo FEDERAL SOURCES 3514 Te, Improving de Programs 5__ago3s7 [$726 250||5 307359 = aoa 3515 [Teel merovng Teacher Cuslty 25,144 773306 || 193375 3 17 3516 [Tee LEP & immigrant Students 59538) 39,008 41388 372585 3517 [Tie V-21st Century Schools $0251 107758 37896 S_iru6[ TES An ESSER 37730 - 4256 s 744 [ARP ESSER 235491 370 || 37.257 [S_(6543379] 8749 [COVIO-18 Heath 8 Seely Grant 31 a ‘3000 ARB ESSER eating Loss 5787 ante eae (a00.09] [ARP Homeless 30306 = 25521 s ‘Media Assitance ACCESS] 330594 e000. 35558 s zi [rovas FEDERAL sounces| S002 a6 | [$_a.aosees |S a2455 'S_Ea6o7N| SLSR [soo orven nancing soUnces - 5200 [Long-Term Fhaneng 3am | [5 3 = s 9500 Refund of Por Yew Bx [—aas.gan E 8 [TOTAL OTHER INANCING SOURCES __as9032 | 15 [52608 = [om [TOTAL REVENUE AND OTHER aaa | Sra Se SaaS Jrmancins sources INOTE: Totals donot refioe wie of Fund lanes.PARKLAND SCHOOL DISTRICT 2023-2024 PROPOSED FINAL BUDGET MAJOR OBJECT SUMMARY ‘oFTotal || changefrom | object Description 2021-22 Actual 2022-23 Budget 2023-26 Budget suger 202223 change 300 | Salaries $91,633,277 $ _94578,861 § 98,600,798 42881 4061917, 43%] 200 Employee Benefits 59,023,800 68,440,881 68,391,322 237%2-3a46aai 6.74] 300_ Purchased Profesional Services 7,521,219 7.964031 9,110,100 40% 3, 1,146,063 15.24] 4400 Purchased Property Services 2,149,953 4097500 2,235,050, 10% 4 (1862450) 266 '500_ Other Purchased Services 16476977 | _17,848,631 18,437,275 30% 5 sabeea 3.6% 600 supplies 10205214, 12417,296 «13,092,679 5266 (a245i7) -42% 700 | Equipment 161,594 300,000, 321,000 01% 7 21,000 13.0%] £800 Other Objects 1,008,080 563427 5578578 24% 8 (53,848) 60% 900 | Debt Service & Other Financing Uses 15,267,340, '8.955,000__15,680,000 63% 86,725,000 440%] “otal Estimated Expenditures 3 203,403.454 § 216244747 § 730,387,002 Too0% |$14142,255 6.5%) NOTES! 41 Overalincrease to Salaries is driven by contractual increases, new stafing, and ational savings on retirement/replacements 2. security due to increased salaries, 15% reduction tie and disability renewals, adit of new staffing positions and attrtonal savings from replacements and resignations 3. Overall increas driven by increased professional education services, increases to technical services. ‘4 Overall decrease driven by the Ironton HVAC project funded by ESSER in 2022-23, 5 Overalncrease driven by increases to charter tuition, insurance renewals and LCCC and LCT sponsorships. 6 Decrease in general supplies offset by increases in uttes including (propane, natura gas, heating ol electri), increases to diesel fel and _Bsoline in transportation, and increases to technology replacements based on the replacement cyl. 7 Minimal changes to property/replacement equipment. 8 Increase of planned Capital Reserve transfer from $1,000,000 to $2,000,000 as part of annual funding plan for Summer Capital Projects ‘Additional $5,000,000 onetime Capital Reserve Transfer. 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