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Lafayette Parish School System
FY 2002-2003 Budget
Budget Workshop Agenda
April 18, 2002
Page
I.
II.
III.
Fund Balance
A.
Fund Balance
1.
History & FY 2001-02 Projection
2.
Undesignated / Designated Fund Balance
B.
General Fund Reserves—Policy DM
C.
General Fund Compliance with Policy
1
2
3
4
Property Tax / Millage Rates
A.
Current Property Tax Millage Rates—Policy DFA-E
B.
Historical Trend in Millage
C.
Historical & Projected Property Tax Revenue & Millage Rates
5
6
7
Sales Tax
A.
Schedule of Actual/Projected Net Sales Tax Revenues
1.
1965 Sales Tax
a.
For FY 2001-02 (Actual/Projected)
b.
For FY 2002-03 (Projected)
2.
1988 Sales Tax
a.
For FY 2001-02 (Actual/Projected)
b.
For FY 2002-03 (Projected)
c.
Tax Dedications—Comparison of FY 2001-02 to FY 2002-03
3.
2002 Sales Tax
a.
For FY 2001-02 (Actual/Projected)
b.
For FY 2002-03 (Projected)
c.
Projected Dedications/Usage for FY 2002-03
8
9
10
11
12
13
14
15
Lafayette Parish School System
Total Fund Balance History with 2002 Projection
$25,000,000
117,727,22$
441,562,02$
155,523,02$
525,582,81$
$20,000,000
299,755,51$
299,755,51$
$15,000,000
$10,000,000
$5,000,000
$0
96-97
97-98
98-99
99-00
Fiscal Year
Assumes that actual FY 01-02 revenues equal expenditures
00-01
Projected
01-02
Revised 03/2802 budget recap 02 03 MWD
Lafayette Parish School System
Fund Balance History with 2002 Projection
Undesignated
Reserve/Designated
$25,000,000
$20,000,000
$6,283,239
$6,478,136
$5,931,440
$6,435,873
$15,000,000
$10,000,000
$13,847,415
$16,444,472
$14,333,704
$7,282,235
$7,282,235
$8,275,757
$8,275,757
$11,849,652
$5,000,000
$0
96-97
97-98
98-99
99-00
Fiscal Year
Assumes that actual FY 01-02 revenues equal expenditures
00-01
Projected
01-02
revised 03/28/02 budget recap 02 03 mwd
File: DM
GENERAL FUND RESERVES
It shall be the objective of the LPSB to establish and maintain its General Fund Reserves as follows:
1. Allocate all required accounting reservations as required by generally accepted governmental
accounting principals (i.e. reserves for inventory, encumbrances, prepaid items, workers
compensation, debt services, etc.)
2. Designate those funds required for possible future expenditures (i.e. insurance claims, selfinsurance fund balance, etc.)
3. Of the remaining reserves establish:
a.) A contingency fund balance of five percent (5%) of the General Fund operating budget
for the current fiscal year. This fund shall be maintained for the purpose of providing
funds for catastrophic deviations in revenue or expense. At the end of each fiscal year
and after all ending balances have been confirmed, the Board shall review the status of
the Contingency Fund Balance. If the balance does not equal the stated objective, it may
take action to transfer funds from other available reserve balances to supplement the
Contingency Fund Balance toward the five percent (5%) level. Prior to using this
Contingency Fund Balance, management should demonstrate that it consider other
budget reductions as a source of funding. Disbursement from and use of the Contingency
Fund Balance must be authorized by resolution approved by at least two-thirds of the
entire Board. Therefore, any initial budget which requires use of the Contingency Fund
Balance or any agenda item during the year with fiscal impact which requires use of the
Contingency Fund Balance will require such a two-thirds vote of the entire Board.
b.) A fiscal year ending fund balance, excluding designations, (Item 2 above) and reserves
(Item 1 above), which is approximately eight percent (8%), including the contingency
fund in 3a above, of the budgeted operating expenditures for the year. This fund balance
shall include the contingency fund balance in 3a above. For any year in which this fund
balance is not anticipated to equal eight percent (8%) of budgeted operating
expenditures, the operating budget shall include a provision to increase this fund balance
toward the stipulated amount. Such provision shall be set by the Board but should be at
least $500,000 (if needed) but may be greater at the discretion of the Board. This
determination shall be made prior to any determinations as stipulated under 3a above.
4.
Shortages in category 3a or 3b above may be met by overages in category 3a or 3b above.
Adopted:
4/5/00
Lafayette Parish Public Schools, Louisiana
Lafayette Parish School System
General Fund Compliance with Board Policy
Budgeted Operating Expenditures
Required % per Policy DCAA & DCAB
FY 99/00
FY 00/01
FY 01/02
Actual
Actual
Projection
$142,613,228
$143,010,813
$155,457,904
8.00%
8.00%
8.00%
Requirement per Policy DCAA & DCAB
$11,409,058
$11,440,865
$12,436,632
Actual Undesignated Fund Balance
$11,849,652
$8,275,757
$8,275,757
Lafayette Parish School System
Required Undesignated Fund Balance
Actual Undesignated Fund Balance
$14,000,000
$12,000,000
$10,000,000
$8,000,000
$6,000,000
$4,000,000
$2,000,000
$0
FY 99/00
FY 00/01
Proj. FY 01/02
Revised: 03/27/02
\\Purchasing\common\02-03 Budget Documents\Accountant's Reports\Matt's Report\[budget recap 02 03.xls]chart des
MWD
File: DFA-E
MILLAGE RATES
GENERAL FUND
_______ 10thth year______
Assessment CollectionNotes
Year
Year
Tax
Millage
Rate
Date
Approved
Constitutional Tax
4.59 mills
------
------
Special Maintenance
and Operational Tax
7.27 mills
7-18-97
2006
2007
2
Special Maintenance
Improvement and
Operational Tax
5.00 mills
7-21-01
2011
2012
3
16.70 mills
6-15-95
2004
2005
4
.8 mills
------
Operational Tax
Consolidated School
District No. 1
SINKING FUND
------
------ 1
------ 5
Notes:
1. Continuous Millage provided by the State Constitution which does not require renewal.
2. Approved by voters 7/19/97 for 10 years
3. Approved by voters 7/21/01 for 10 years
4. Approved by voters 6/15/95 for 10 years
5. Millage set annually in an amount necessary to provide funds to service outstanding bonds.
Adopted:
Revised:
9/20/00
12/05/01
Lafayette Parish Public Schools, Louisiana
LAFAYETTE PARISH SCHOOL BOARD
HISTORICAL & PROJECTED PROPERTY TAX REVENUES AND MILLAGE RATES
Actual
FY 00-01
Budget
FY 01-02*
$824,767,112
$879,927,716
$1,016,794,854
(232,533,701)
($240,542,846)
($269,516,398)
($282,992,218)
$559,232,867
$592,233,411
$639,384,870
$747,278,456
$784,642,379
4.59
4.59
4.59
4.59
4.59
4.59
7.27
7.27
7.27
7.27
7.27
7.27
5.00
5.00
5.00
5.00
5.00
5.00
16.70
16.70
16.70
16.70
16.70
16.70
33.56
33.56
33.56
33.56
33.56
33.56
Gross Property Taxes Due
Less: Pension at 3.538%
$17,458,999
$18,767,855
$19,875,353
$21,457,756
$25,078,665
$26,332,598
Net Property Taxes Due
$16,843,159
Total Assessed
Less: Homestead Exemption
Net Taxable
Millages:
School (Constitutional)
Special School Tax
Special School Impr. ( M & O)Tax (1992 - 2002)
School 1985 Operational (1995 - 2005)
Total millages
Less: Allowance for Delinquencies/Recoveries/
Interest & Penalties
Actual/Expected Propety Tax Revenue
Actual
FY 97-98
Actual
FY 98-99
Actual
FY99-00
$736,912,486
$783,185,323
(216,680,086)
(223,952,456)
$520,232,400
(615,841)
(16,571)
$16,826,588
(638,818)
$18,129,037
(226,764)
$17,902,273
(703,190)
$19,172,163
174,531
$19,346,694
(759,175)
$20,698,581
(260,294)
$20,438,287
(887,283)
$24,191,382
(225,000)
$23,966,382
*Based on 11/01 Grand Recapitulation of the Assessment Roll
**Based on a preliminary estimate of five percent (5%) increase in January 2002 as provided by Mr. Conrad Comeaux, Assessor
Projected Budget
FY 02-03**
$1,067,634,597
(931,647)
$25,400,951
(225,000)
$25,175,951
LAFAYETTE PARISH SCHOOL BOARD
HISTORICAL TREND IN MILLAGE
Fiscal
Year
1974/75
1975/76
1976/77
1977/78
1978/79
1979/80
1980/81
1981/82
1982/83
1983/84
1984/85
1985/86
1986/87
1987/88
1988/89
1989/90
1990/91
1991/92
1992/93
1993/94
1994/95
1995/96
1996/97
1997/98
1998/99
1999/00
2000/01
2001/02
2002/03
Operating
Millage
17.00
17.00
17.00
14.45
9.11
9.29
9.35
12.88
8.46
8.49
9.31
19.31
25.77
26.50
33.15
28.56
33.15
33.15
31.15
31.15
33.56
33.56
33.56
33.56
33.56
33.56
33.56
33.56
33.56
General
Obligation
Millage
15.50
15.50
12.50
8.50
5.35
5.35
5.35
1.82
1.82
1.82
1.00
1.00
3.20
3.20
4.00
4.00
4.00
4.00
3.25
2.93
2.89
2.60
2.22
2.10
1.60
0.90
0.80
0.80
0.78
Total
School Board
Millage
32.50
32.50
29.50
22.95
14.46
14.64
14.70
14.70
10.28
10.31
10.31
20.31
28.97
29.70
37.15
32.56
37.15
37.15
34.40
34.08
36.45
36.16
35.78
35.66
35.16
34.46
34.36
34.36
34.34
LAFAYETTE PARISH SCHOOL SYSTEM - SALES TAX DIVISION
SCHEDULE OF ACTUAL / PROJECTED NET SALES TAX REVENUES
1965 (1%) SALES TAX
YEAR ENDED JUNE 30, 2002
Collection Month
Jul 01
Aug
Sep
Oct
Nov
Dec
Jan 02
Feb
Mar
Apr
May
Jun 02
TOTAL
Net Revenues
Available
$3,163,782
3,091,646
2,954,655
2,945,335
3,027,008
2,898,087
3,944,554
2,742,164
2,711,696
3,174,182
2,965,153
3,188,154
$36,806,415
BUDGET REVISION #2$37,113,624
VARIANCE
-$307,209
General
Fund
actual
actual
actual
actual
actual
actual
actual
actual
projected
projected
projected
projected
DISTRIBUTION
Bond
Capital
Sinking Improvement
Minor
Repairs
$2,330,850
$768,348
2,258,714
768,348
2,121,723
768,348
2,112,403
768,348
2,194,076
768,348
2,065,155
768,348
3,111,622
768,348
1,801,143
876,437
1,850,797
796,315
2,313,283
796,315
2,104,254
796,315
2,327,263
796,315
$26,591,282 $9,440,133
$47,917
47,917
47,917
47,917
47,917
47,917
47,917
47,917
47,917
47,917
47,917
47,913
$575,000
$16,667
16,667
16,667
16,667
16,667
16,667
16,667
16,667
16,667
16,667
16,667
16,663
$200,000
$26,898,491 $9,440,133
$575,000
$200,000
$0
$0
-$307,209
$0
NOTE: For forecast purposes, actual net revenues are used for the months already collected (Jul 01 thru Feb 02)
and projected net revenue for the remaining months in the fiscal year is estimated to be equal to 2% over the
actual net revenue for the same month in the prior year.
LAFAYETTE PARISH SCHOOL SYSTEM - SALES TAX DIVISION
SCHEDULE OF PROJECTED NET SALES TAX REVENUES
1965 (1%) SALES TAX
YEAR ENDED JUNE 30, 2003
Collection Month:
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
TOTAL
Distribution of Net Revenue:
TOTAL
$37,358,512
Projected / Actual
Net Revenue
FYE 6/30/02
Projected
Net Revenue
FYE 6/30/03
Difference
$3,163,782
3,091,646
2,954,655
2,945,335
3,027,008
2,898,087
3,944,554
2,742,164
2,711,696
3,174,182
2,965,153
3,188,154
$3,211,239
3,138,021
2,998,975
2,989,515
3,072,413
2,941,558
4,003,722
2,783,296
2,752,371
3,221,795
3,009,630
3,235,976
$47,457
46,375
44,320
44,180
45,405
43,471
59,168
41,132
40,675
47,613
44,477
47,822
$36,806,416
$37,358,512
$552,096
General Fund
$26,808,614
Bond Sinking
$9,556,639
Capital Imp.
Minor Repairs
$575,000
$418,259
NOTE: The projected net revenues for fiscal year ended June 30, 2003 are estimated to be 1.5% over the net
revenues for the prior year.
LAFAYETTE PARISH SCHOOL SYSTEM - SALES TAX DIVISION
SCHEDULE OF ACTUAL / PROJECTED NET SALES TAX REVENUES
1988 (½%) SALES TAX
YEAR ENDED JUNE 30, 2002
Collection Month:
Jul 01
Aug
Sep
Oct
Nov
Dec
Jan 02
Feb
Mar
Apr
May
Jun
Net Revenue
$1,429,571
1,385,279
1,313,305
1,317,442
1,346,611
1,320,608
1,743,821
1,240,109
1,214,684
1,426,280
1,319,831
1,428,038
TOTAL
$16,485,579
BUDGET REVISION #2
$16,815,060
VARIANCE
actual
actual
actual
actual
actual
actual
actual
actual
projected
projected
projected
projected
-$329,481
NOTE: For forecast purposes, actual net revenues are used for the months already collected
(Jul 01 thru Feb 02)and projected net revenue for the remaining months in the fiscal year is
estimated to be equal to 2% over the actual net revenue for the same month in the prior year.
LAFAYETTE PARISH SCHOOL SYSTEM - SALES TAX DIVISION
SCHEDULE OF PROJECTED NET SALES TAX REVENUES
1988 (1/2%) SALES TAX
YEAR ENDED JUNE 30, 2003
Collection Month:
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
TOTAL
Projected / Actual
Net Revenue
FYE 6/30/02
Projected
Net Revenue
FYE 6/30/03
Difference
$1,429,571
1,385,279
1,313,305
1,317,442
1,346,611
1,320,608
1,743,821
1,240,109
1,214,684
1,426,280
1,319,831
1,428,038
$1,451,015
1,406,058
1,333,005
1,337,204
1,366,810
1,340,417
1,769,978
1,258,711
1,232,904
1,447,674
1,339,628
1,449,459
$21,444
20,779
19,700
19,762
20,199
19,809
26,157
18,602
18,220
21,394
19,797
21,421
$16,485,579
$16,732,863
$247,284
Note: The projected net revenues for fiscal year ended June 30, 2003 are estimated to be 1.5% over the
net revenues for the prior fiscal year.
LAFAYETTE PARISH SCHOOL SYSTEM
1988 1/2 Cent Sales Tax Budget
Comparison of Draft Budget 2002 - 2003 to Projected 2001 - 2002
DESCRIPTION
Projected
Actual
2001 - 2002
Draft
BUDGET
2002 - 2003
REVENUES
Sales Tax Receipts
Potential Carry forward
TOTAL PROJECTED REVENUE
16,485,579
16,732,863
-
$ 16,485,579
$ 16,732,863
4,984,500
597,731
$ 5,582,231
$ 5,084,190
609,686
33,733
$ 5,727,609
DISTRIBUTION PER PRIORITIES
Priority:
#1 5% Salary Restoration:
LTRS
SERS
Total Priority #1
#2
Materials of Instruction Restoration:
192,520
$
192,520
Elementary Counselor Restoration (10)
LTRS
320,169
41,942
$
320,169
41,942
Drop-Out Prevention Restoration
Total Priority #2:
90,000
90,000
$
644,631
$
644,631
-
$
-
#3
Asbestos Removal until Complete
$
#4
Active/Retired Employee Only Health Premiums
$ 7,149,011
$ 8,321,503
#5
Enhancement Programs:
1,221,196
159,977
$ 1,221,196
159,977
Enhancements & Drop-Out Prevention Expansion:
Behavior Clinic
Student Remediation
760,000
120,000
657,947
-
Teacher In-service
742,000
-
$ 3,003,173
$ 2,039,120
Textbooks & Materials of Instruction
$
$
TOTAL PROJECTED EXPENDITURES
$ 16,485,579
$ 16,732,863
$
$
Elementary Physical Ed. Restoration
LTRS on Elementary P.E.
Total Priority #5:
#6
Proceeds in excess of above items:
Projected Excess To Be Carried Forward
106,533
-
-
0
\\Purchasing\common\02-03 Budget Documents\Accountant's Reports\Matt's Report\[88HLFCET03.xls]budget comp
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LAFAYETTE PARISH SCHOOL SYSTEM - SALES TAX DIVISION
SCHEDULE OF ACTUAL / PROJECTED NET SALES TAX REVENUES
2002 (½%) SALES TAX
YEAR ENDED JUNE 30, 2002
Collection Month:
Net Revenue
Jul 01
Aug
Sep
Oct
Nov
Dec
Jan 02
Feb
Mar
Apr
May
Jun 02
TOTAL
0
0
0
0
0
0
0
$1,181,919
1,202,537
1,412,017
1,306,633
1,413,757
$6,516,864
BUDGET REVISION #2
$6,677,600
VARIANCE
actual
actual
actual
actual
actual
actual
actual
actual
projected
projected
projected
projected
-$160,736
NOTE: For forecast purposes, actual net revenue is used for the month already collected (Feb 02) and
projectednet revenue for the remaining months in the fiscal year is estimated to be ninety nine percent of the
projected1988 net revenue.
LAFAYETTE PARISH SCHOOL SYSTEM - SALES TAX DIVISION
SCHEDULE OF PROJECTED NET SALES TAX REVENUES
2002 (1/2%) SALES TAX
YEAR ENDED JUNE 30, 2003
Collection Month:
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
TOTAL
Projected / Actual
Net Revenue
FYE 6/30/02
Projected
Net Revenue
FYE 6/30/03
$0
0
0
0
0
0
0
1,181,919
1,202,537
1,412,017
1,306,633
1,413,757
$1,436,504
1,391,998
1,319,675
1,323,832
1,353,142
1,327,013
1,752,279
1,246,124
1,220,575
1,433,197
1,326,232
1,434,964
$6,516,863
$16,565,534
Difference
N/A
N/A
N/A
N/A
N/A
N/A
N/A
$64,205
18,038
21,180
19,599
21,207
N/A
Note: The projected net revenues for fiscal year ended June 30, 2003 are estimated to be ninety nine
percent of the 1988 tax.
Lafayette Parish School System
General Fund Budget - 2002 Dedicated Sales Tax
FY 2002-2003
Revenue
$
16,565,534
$
9,934,500
Expenditures
Teacher Raises (11.3%)
Classroom Teacher Salaries:
Lower Class Size Salaries
Extra Instruction Salaries
Incentive Compensation for Teaching in High Poverty Schools
Professional Development for Teachers
Classroom Salaries for Targeted Instructional Counseling
?
?
?
?
?
Reserve
?
Total Expenditures:
Dedicated 2002 Tax-Sheet1/jbs-jag/Rev. 4.11.02
$
16,565,534