PMA Budget Projection & Financial Forecasting Presentation

At the June 23 Board of Education Meeting Gary Sinclair, with the Iowa Association of School Boards worked with the Board and the PMA Financial Planning Program (FPP). The district has been using the system for the past three years.

PMA FPP™ is a financial planning program that allows interaction with a full spectrum of assumptions in order to project a district’s financial position. These projections are made by analyzing years of historical Annual Financial Report data and analysis of the district’s current budget and projections for revenue and expense variables.

At the meeting Sinclair explained the forecasting model and assumptions, reviewed the FY14 projected year-end as well as provided budget forecasts for the next five years. Board members and stakeholders were reminded that the district purposely spent down their reserves this year (FY14) and in FY13 to offset the lack of funding the district received in 2012 when the state funded 0% allowable growth for Iowa schools.

PMA FPP™ has proven to be a hugely effective tool in our budgeting process. It has enabled the district to make informed decisions regarding staffing levels, compensation packages and contract negotiations. The district remains on a very strong and stable financial footing, due largely to the disciplined focus and conservative assumptions that the Board has embraced in past years.

No formal action was necessary by the Board for this agenda item. A final version of the FY14 year-end report will be available in October.

PMA Budget Projection & Financial Forecasting Presentation

To download a PDF version of the presentation click here.

560 Southeast University Avenue
Waukee, Iowa 50263
Phone 515.987.5161
Fax 515.987.2701