0923 MPS - Flipbook - Page 3
general fund financial overview
Total revenues/resources increased
approximately 3.8% in fiscal year
Resources Taken In
2023 (July 2022 to June 2023). We
saw an increase of approximately
2021
2022
2023
Amount
Amount
Amount
Local Sources
$81,132,292
$80,678,579
$84,698,948
State Sources
$24,475,066
$23,854,958
$24,186,554
Federal Sources
$561,201
$1,019,910
$637,122
Other Revenue
Sources
$644,745
$494,083
$517,176
$106,813,304
$106,047,531
$110,039,800
$2.1 million (3.1%) more in local
property tax collections and an
increase of approximately $1.7 million
in our investment income. These two
factors accounted for the majority
of the $4 million increase in Local
Sources revenue. State funding was
up approximately $351,000 based
on the changes made to the Fair
School Funding Plan. We received
approximately $383,000 less in
federal funding this fiscal year because
some grants we were awarded in FY22
were no longer offered.
Total Revenue
Total expenditures increased by
8.02%. A primary driver was the
decision to transfer approximately
$14 million from the general fund
Services Provided
to support the district’s Five Year
Capital Plan for the next four years.
If you net out the transfer for FY24
2021
2022
2023
Amount
Amount
Amount
Instruction
$66,572,212
$67,802,758
$69,320,952
Pupil Support
$5,684,420
$5,951,947
$6,379,978
Instructional
Staff Support
$5,972,540
$6,099,392
$6,107,091
Administration
$9,570,174
$9,731,762
$10,315,864
Operation and
Maintenance
$9,221,260
$9,310,891
$8,816,564
Athletics/
Extracurricular Activities
$1,611,260
$1,663,742
$1,719,785
Transportation
$5,141,197
$6,348,620
$5,829,997
$129,148
$101,972
$104,458
$4,074,671
$6,667,653
$14,204,813
$107,976,883
$113,678,737
$122,799,503
through FY26, the net increase is
only 0.02%. Contracts for employee
unions and administrators included
increases in base compensation
of 2.75%. The district saw an
approximate 7% increase in Pupil
Support costs because of changes
to the negotiated agreement costs
and costs previously associated
with other non-general funds, which
returned due to changes to the Fair
School Funding Plan. A 6% increase
in administrative costs was realized
as costs that were previously paid
through restricted state funds are now
associated with the general fund due
to changes to the Fair School Funding
Plan (administrative staffing numbers
remained constant; changes were
due to how the costs associated were
expensed based on the new state
funding formula). Costs associated
with operation and maintenance
decreased approximately 5%
Other
because of a normalization post
COVID, and transportation decreased
approximately 8% because the
purchase of five buses did not occur.
Transfers/Advances
to Other Funds
The buses were delayed as a result
of supply chain constraints. This will
result in a corresponding increase in
Total Expenditures
the fiscal year they are received.
M E N TO R S C H O O L S . N E T / C F O
3
