1022 MPS - Flipbook - Page 3
General Fund Financial Overview
Total revenues/resources
decreased approximately 0.72%
in fiscal year 2022 (July 2021
to June 2022). While we saw
an increase of approximately
$1.0 million (1.4%) more in
Local Property Tax collections
as a result of the Lake County
auditor’s triennial property
valuation increase, we also saw
a reduction in our investment
income of almost $1.4 million,
causing our Local Sources
of revenue to decrease by
$453,713 from the prior year.
Likewise, our State Funding was
down approximately $620,000
based on the changes made
with the Fair School Funding
Plan. Additionally, we received
$874,345 in emergency
connectivity grant funding in
fiscal year 2022 (FY22) that
we did not receive in fiscal year
2021 (FY21) and therefore
saw an increase in our Federal
Funding by $458,709.
Total Expenditures increased
by 5.28%. A primary driver was
staffing and related benefits.
Contracts for both employee
unions included increases in
base compensation of 2.25%.
Additionally, there was an
increase in transfers/advances
to other funds to support the
district’s five-year capital plan
and $2.1 million transfer to the
district’s budget reserve that
did not get transferred over in
FY21 as a result of the budget
surplus experienced in fiscal
year 2020 (FY20). Additionally,
transportation costs in FY20
and FY21 were reduced because
of the COVID-19 pandemic.
Because busing returned to
pre-pandemic services, we
experienced more traditional
costs associated within our
transportation department albeit
higher gasoline prices.
RESOURCES TAKEN IN
2020
2021
2022
Amount
Amount
Amount
Local Sources
$80,737,663
$81,132,292
$80,678,579
State Sources
$22,681,553
$24,475,066
$23,854,958
Federal Sources
$746,661
$561,201
$1,019,910
Other Revenue Sources
$482,277
$644,745
$494,083
$104,648,154
$106,813,304
$106,047,531
2020
2021
2022
Amount
Amount
Amount
Instruction
$64,970,612
$66,572,212
$67,802,758
Pupil Support
$5,408,031
$5,684,420
$5,951,947
Instructional Staff
Support
$5,930,300
$5,972,540
$6,099,392
Administration
$9,331,138
$9,570,174
$9,731,762
Operation and
Maintenance
$8,033,616
$9,221,260
$9,310,891
Athletics/
Extracurricular Activities
$1,567,834
$1,611,260
$1,663,742
Transportation
$5,768,116
$5,141,197
$6,348,620
$90,735
$129,148
$101,972
Transfers/Advances
to Other Funds
$1,591,545
$4,074,671
$6,667,653
Total Expenditures
$102,691,927
$107,976,883
$113,678,737
Total Revenue
SERVICES PROVIDED
Other
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