New Trier Budget: Fiscal Year 2022

September 2021

Overview

• Each year, District must adopt budget by September 30• Budget is spending plan for the year• Developed to accomplish the District’s strategic goals and objectives

through strong fiscal stewardship• Aligned to support strategic focus and key results areas• Directly supports the educational outcomes for our students

Academics

• Budget supports deep and broad curriculum, providing for a rigorous and dynamic experience

• 98% of students continue to college, with assistance of comprehensive post high school counseling program

• 83% of students take 18-20 core academics over 4 years, including 4 years of English, and average 3.9 years of math, 3.9 years of science, 3.7 years of social studies, and 3.4 years of foreign language

• 88% of students pursue two or more elective courses over four years

Student Activities, Performing Arts and Athletics

• Budget supports a robust extracurricular program, with over 85% of students participating in one or more opportunities in Athletics, Performing Arts or Activities led by hundreds of committed coaches, directors and sponsors

• 50% of students participate in one or more athletic teams, no cut opportunities each season

Addressing the Individual Needs of Learners

• Budget supports the Adviser Program, developing student connections to the school and each other, helping make a large school small, providing social/emotional skill development and academic counseling

• Comprehensive array of supports for students struggling academically or with social emotional needs through the multi-tiered system of supports

• Special Education program supports over 650 students with a full spectrum of needs

Budget Summary

Fiscal Year 2021 (Amended Budget) 2022 (Final Budget)Revenues $115,064,336 $121,209,451Expenditures $115,055,808 $116,043,777Other Uses From Current Fiscal Year

($3,065,105)

Oper. Funds Surplus/Deficit

$8,528 $2,100,569

Transfers From Fund Balances

($7,650,000) $(7,650,000)

Net Oper. Funds Bal. Change

($7,641,472) ($5,549,431)

Budget Highlights (Revenue)

• Property taxes comprise 92% of revenue• District last asked for an operating rate referendum in 2003 and made

a 5-year no referendum commitment• Commitment has been extended over 17 years past original date• State revenue up slightly and categorized using Evidence Based

Funding methodology• Federal revenue up 25.16%, largely due to COVID-19 funds

Budget Highlights (Expenditures)

• Salaries are largest component of budget: 66%• District employs 383.1 FTE of faculty, teaching students in wide variety of

courses, leading academic departments, and providing student services• Surveys show that maintaining high quality teaching staff is a top priority of

the community• 97% have masters or higher, far exceeding 61% state average; 80% of

teachers have 15 years or more of teaching experience• 80% of teachers have achieved Master Teacher or Leader Teacher status• Teachers compensated to work 182 days, above state average, providing

extra instructional and professional development time

Budget Highlights (Expenditures)

• Employee Benefits total 13% of the budget and include health insurance, 403b contributions, payroll taxes, and district contributions to employee retirement systems

• Largest component of benefits is health insurance; District is member of the NIHIP Cooperative

• Health and dental costs increased 3.9% for this fiscal year, returning to a trend of historically low renewal rates; average of 3.03% for prior 5 years, which includes unusual 12.2% FY 21 increase

• District’s IMRF rate will decrease from 6.95% to 4.32%

Budget Highlights (Expenditures)

• Purchased Services, which includes professional development, printing, postage, legal and other services projected to decrease 0.35%; continued focus on Special Education legal costs in FY 22

• Supplies and materials includes utilities, office and instructional supplies, and vehicle supplies is expected to decrease 16.16%

Budget Highlights (Expenditures)• Capital outlay includes the purchase of equipment and construction costs and is expected to

decrease slightly in operating funds• Renovations, maintenance and improvements allow the district to deliver the best possible

education to students today and tomorrow• Budget includes funds for the conclusion of the portion of the 15-Year plan Year 2 improvements

from summer/fall 2021• Budget also includes funds for a portion of the 15-Year Plan Year 3 improvements through June 30,

2022• Improvements to both campuses, including completing the Winnetka 3rd floor, classroom

modernization at NF, and roof replacements• Transfers total $7,650,000 to fund this work• The budget also includes funds for the Winnetka Campus East Side Academic and Athletic Project,

including estimated construction expenses for the first phase of the project

Budget Highlights (Expenditures)

• The Other category includes Special Education tuition, room and board and will increase by 9.2%

• District expects fewer COVID-related expenses and will continue to seek out reimbursement where possible

• Some extra costs and reductions from FY21 will remain in FY22

Awards

• Certificate of Excellence Award in Financial Reporting – Demonstrates offered by ASBO International, confirms that the District’s Comprehensive Annual Financial Report has met or exceeded the standard. The District has received this award for the seventeen consecutive years.

• Certificate of Achievement Award in Financial Reporting - In order to receive this award, a government unit must publish an easily readable and efficiently organized CAFR. The CAFR must satisfy both Generally Accepted Accounting Principles and applicable legal requirements. The District has received this award for seventeen consecutive years.

• Certificate of Financial Recognition - The District received the Certificate of Financial Recognition for fiscal year ending June 30, 2020 from the Illinois State Board of Education. This award recognizes the strong financial position of the District in its management of annual resources and fund balances.

Conclusion

• Thanks to the Administration and Business Office for their assistance in developing the budget

• Thanks to the community for their support of New Trier• The budget demonstrates the community’s commitment to the

educational program offered by the District and the District’s commitment to strong fiscal stewardship

• Questions?