2013-14 budget - Hawthorn School District 73

Hawthorn School District 73
201 Hawthorn Parkway • Vernon Hills, Illinois 60061
Phone (847) 990-4223 • Fax (847) 367-3290
BRAD GOLDSTEIN
ASSOCIATE SUPERINTENDENT OF
FINANCE AND BUSINESS OPERATIONS
Memorandum
To:
Nick Brown
From: Brad Goldstein
Date: August 10, 2013
Re: Final Budget 2013-14
I enclose the Final Budget for your review. Summary sheets are enclosed which include charts
of the 2013-2014 Final Budget Summary showing proposed receipts, disbursements and
comparisons with the Tentative Budget, as well as the Final Budget from last year. The Budget
Hearing will occur during the board meeting on Monday, August 12, 2013. The Board is
scheduled to approve the Final Budget on Monday, September 9, 2013, and I will submit it to the
Regional Office of Education and the Illinois State Board of Education by September 30 th to
comply with all the required laws pertaining to the timeline for budget approval.
There are some changes in both revenue and expenditures from the Tentative Budget. I will
highlight them below. There is still a slight surplus of $72,844 in the when looking at the funds
other than Capital Projects, Bond and Interest and Working Cash Bond Funds. The difference in
revenues are mainly due to looking at our June receipts from property taxes, and then calculating
the remaining amount due from the 2012 tax extension that we will receive in September. Also,
I looked at the funding we received from the state in June for categoricals and grants. Many of
these increased compared to the tentative budget. We also received our integration payment
from SEDOL in July instead of June, which will increase our revenues in FY 2014. We operate
on a cash basis, meaning that we book our revenues and expenditures as they are received or
incurred, so if we receive or pay bills early or late, they are reflected in the year in which they are
recorded.
Some other key changes include:
• We made our computer lease payment in June in order to meet the July 1 st deadline on the
bill. This is our last payment on the lease.
• Our transfers were reduced due to the lease payment being made early.
• Our GSA was prorated downward at 88.7%, slightly less than we had projected.
• Our Special Education costs have increased when looking at incoming and outgoing
students in private placement.
Final Budget 2013-14 discussion.doc