MENAHGA

ISD 821

FY24 REVISED BUDGET

Regular School Board Meeting

Monday, April 15, 2024
 MENAHGA
FY24 Revised Budget

Table of Contents

Page
All Funds Summary ……………………………………………….
1

Fund 01 - General Fund ……………………………………………….

2

Fund 01 - General Fund Balance Summary ……………………………………………….

3

Fund 02 - Food Service Fund ……………………………………………….

4

Fund 04 - Community Education Fund ……………………………………………….

5

Fund 07 - Debt Service Fund ……………………………………………….

6
 MENAHGA
FY24 REVISED BUDGET
BUDGET SUMMARY - ALL FUNDS

Revised Budget
Final Final Original Budget Increase/ %
FY22 FY23 FY24 FY24 (Decrease) Change
FUND 01 - General Fund
Incl. Transportation, Capital, Scholarships & Student
Revenue $ 11,856,780 $ 12,490,503 $ 12,689,336 $ 13,501,574 $ 812,238 6.40%
Expenditures $ 11,348,314 $ 12,534,826 $ 12,660,992 $ 13,105,607 $ 444,615 3.51%
Net Surplus/(Deficit) $ 508,466 $ (44,323) $ 28,344 $ 395,967 $ 367,623
FUND 02 - Food Service Fund
Revenue $ 895,951 $ 823,555 $ 831,164 $ 864,800 $ 33,636 4.05%
Expenditures $ 785,510 $ 811,216 $ 829,296 $ 956,598 $ 127,302 15.35%
Net Surplus/(Deficit) $ 110,441 $ 12,339 $ 1,868 $ (91,798) $ (93,666)
FUND 04 - Community Ed Fund
Revenue $ 195,353 $ 218,150 $ 210,564 $ 205,337 $ (5,227) -2.48%
Expenditures $ 193,490 $ 231,702 $ 222,468 $ 263,571 $ 41,103 18.48%
Net Surplus/(Deficit) $ 1,863 $ (13,552) $ (11,904) $ (58,234) $ (46,330)
FUND 07 - Debt Service Fund
Revenue $ 1,323,793 $ 1,035,435 $ 1,403,681 $ 1,369,407 $ (34,274) -2.44%
Expenditures $ 1,034,013 $ 1,229,775 $ 1,284,925 $ 1,284,925 $ - 0.00%
Net Surplus/(Deficit) $ 289,780 $ (194,340) $ 118,756 $ 84,482 $ (34,274)
TOTAL REVENUE $ 14,271,877 $ 14,567,643 $ 15,134,745 $ 15,941,118 $ 806,373 5.54%
TOTAL EXPENDITURES $ 13,361,327 $ 14,807,519 $ 14,997,681 $ 15,610,701 $ 613,020 4.14%

TOTAL ALL FUNDS

Net Surplus/(Deficit) $ 910,550 $ (239,876) $ 137,064 $ 330,417 $ 193,353

1
MENAHGA
Original Budget FY24 GENERAL FUND 01
Revised Budget FY24

Original Revised Increase / %

Final Final Budget Budget (Decrease) Change
FY22 FY23 FY24 FY24 FY24 FY24
EXPENDITURES

100 Salaries & Wages $ 6,855,347 $ 7,269,069 $ 7,624,116 $ 7,702,775 $ 78,659 1.03%
200 Employee Benefits 1,891,743 1,959,565 2,101,875 2,165,592 63,717 3.03%
300 Purchased Services 1,520,730 1,702,951 1,419,770 1,744,267 324,497 22.86%
400 Supplies & Materials 677,739 912,712 805,022 884,970 79,948 9.93%
500 Capital Expenditures 375,365 460,343 686,080 517,683 (168,397) -24.54%
800 Other Expenditures 27,390 90,187 24,129 90,320 66,191 274.32%
900 Transfers - 139,999 - - - 0.00%
$ 11,348,314 $ 12,534,826 $ 12,660,992 $ 13,105,607 444,615 3.51%

REVENUE $ 11,856,780 $ 12,490,503 $ 12,689,336 $ 13,501,574 812,238 6.40%

Net Surplus/(Deficit)
$ 508,466 $ (44,323) $ 28,344 $ 395,967 $ 367,623

2
 MENAHGA
GENERAL FUND BALANCE SUMMARY
Expenditures Expenditures
Reserve Fund Balance
Final FY22 Revenue FY23 FY23 Transfers Final FY23 Revenue FY24 FY24 Transfers FY24
Gifted and Talented 438 - 13,462 (13,462) - $ - 13,408 (13,408) - -
Long Term Facilities Maint 467 (286,013) 260,226 (217,544) - $ (243,331) 106,688 (148,750) - (285,393)
Medical Assistance 472 116,669 132,849 (164,898) - $ 84,620 112,500 (165,100) - 32,020
Student Activities 131,895 228,739 (229,959) $ 130,675 64,429 (64,429) 130,675
Scholarships 402 47,105 1,812 - - $ 48,917 1,800 - - 50,717
TOTAL RESERVE FUND BALANCE $ 145,426 $ 637,088 $ (625,863) $ - $ 20,881 $ 298,825 $ (391,687) $ - (71,981)

Expenditures Expenditures
Unassigned Fund Balance
Final FY22 Revenue FY23 FY23 Transfers Final FY23 Revenue FY24 FY24 Transfers FY24
TOTAL UNASSIGNED FUND BALANCE $ 3,221,776 $ 11,610,970 $ (11,482,631) $ - $ 3,235,986 * $ 13,202,749 $ (12,713,920) $ - $ 3,724,815 **

FY23 FY24
Assigned Fund Balance
Final FY22 (Use)/Assign Final FY23 (Use)/Assign FY24
Separation $ 8,500
TOTAL ASSIGNED FUND BALANCE 8,500 - - - -

* FY23 Unassigned Fund Balance 26%

**FY24 Projected Unassigned Fund Balance 28%

3
MENAHGA
Original Budget FY24 FOOD SERVICE FUND 02
Revised Budget FY24

Original Revised Increase / %

Final Final Budget Budget (Decrease) Change
FY22 FY23 FY24 FY24 FY24 FY24
EXPENDITURES

100 Salaries & Wages $ 265,390 $ 258,849 $ 283,028 $ 321,344 $ 38,316 13.54%
200 Employee Benefits 67,206 63,455 68,600 76,939 8,339 12.16%
300 Purchased Services 24,008 30,078 28,163 41,465 13,302 47.23%
400 Supplies & Materials 428,906 452,995 441,379 484,850 43,471 9.85%
500 Capital Expenditures - 5,839 8,126 32,000 23,874 0.00%
800 Other Expenditures - - - - - 0.00%
$ 785,510 $ 811,216 $ 829,296 $ 956,598 127,302 15.35%

REVENUE $ 895,951 $ 823,555 $ 831,164 $ 864,800 33,636 4.05%

Net Surplus/(Deficit)
$ 110,441 $ 12,339 $ 1,868 $ (91,798) $ (93,666)

FUND BALANCE PROJECTION - FUND 02 FOOD SERVICE

June 30 Bal % of Exp

Restricted
FY19 $ 52,103 7.64%
FY20 $ (96,496) $ (44,393) -4.45%
FY21 $ 46,221 $ 1,828 0.31%
FY22 $ 110,441 $ 112,269 14.29%
FY23 $ 12,339 $ 124,608 15.36%

Projected:
FY24 $ (91,798) $ 32,810 3.43% *

*Notes:
Target fund balance = 3 months of expenditures / $320K
MENAHGA
Original Budget FY24 COMMUNITY EDUCATION FUND 04
Revised Budget FY24

Original Revised Increase / %

Final Final Budget Budget (Decrease) Change
FY22 FY23 FY24 FY24 FY24 FY24
EXPENDITURES

100 Salaries & Wages $ 93,169 $ 121,751 $ 121,592 $ 142,920 $ 21,328 17.54%
200 Employee Benefits 22,234 28,726 30,347 35,464 5,117 16.86%
300 Purchased Services 66,723 70,973 62,775 76,475 13,700 21.82%
400 Supplies & Materials 10,654 10,252 7,365 8,712 1,347 18.29%
500 Capital Expenditures - - - - - 0.00%
800 Other Expenditures 710 - 389 - (389) -100.00%
$ 193,490 $ 231,702 $ 222,468 $ 263,571 41,103 18.48%

REVENUE $ 195,353 $ 218,150 $ 210,564 $ 205,337 (5,227) -2.48%

Net Surplus/(Deficit)
$ 1,863 $ (13,552) $ (11,904) $ (58,234) $ (46,330)

FUND BALANCE PROJECTION - FUND 04 COMMUNITY EDUCATION

June 30 Bal % of Exp

Restricted
FY19 $ 72,217 42.35%
FY20 $ 20,759 $ 92,976 61.63%
FY21 $ (112,113) $ (19,137) -6.30%
FY22 $ 1,863 $ (17,274) -8.93%
FY23 $ (13,552) $ (30,826) -13.30%

Projected:
FY24 $ (58,234) $ (89,060) -33.79%

5
MENAHGA
Original Budget FY24 DEBT SERVICE FUND 07
Revised Budget FY24

Original Revised Increase / %

Final Final Budget Budget (Decrease) Change
FY22 FY23 FY24 FY24 FY24 FY24
EXPENDITURES

710 Bond Principal $ 535,000 $ 745,000 $ 745,000 $ 825,000 $ 80,000 10.74%

720 Bond Interest 497,350 483,350 483,350 458,500 (24,850) -5.14%
790 Other 1,663 1,425 1,425 1,425 - 0.00%
$ 1,034,013 $ 1,229,775 $ 1,229,775 $ 1,284,925 55,150 4.48%

REVENUE $ 1,323,793 $ 1,035,435 $ 1,403,681 $ 1,369,407 (34,274) -2.44%

Net Surplus/(Deficit)
$ 289,780 $ (194,340) $ 173,906 $ 84,482 $ (89,424)

FUND BALANCE PROJECTION - FUND 07 DEBT SERVICE

June 30 Bal % of Exp

Restricted
FY19 $ 133,089 14.50%
FY20 $ 14,585 $ 147,674 12.93%
FY21 $ (7,462) $ 140,212 13.65%
FY22 $ 289,780 $ 429,992 41.58%
FY23 $ (194,340) $ 235,652 19.16%

Projected:
FY24 $ 84,482 $ 320,134 24.91%