Transcript College Community Schools Budget Process Formula Basics

February, 2012
Cash & Authority must be minimally
maintained.
Staffing= Possible additional needs in 2012-13
+($600,000)
 Legislative
Unknowns:
13-14 Allowable growth?????
Educational Initiatives introduced by Governors office
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 Undesignated,
Fund Balance
(Cash)

Unreserved General
The District’s goal for its undesignated, unreserved
general fund balance at June 30 is a minimum of 15
percent of that year’s revenue. The District will certify annually a
cash reserve levy if needed to reach and/or sustain the desired fund balance. A
fund balance of a minimum of 15 percent enables the District to achieve the highest
possible credit ratings from rating agencies, such as Moody’s and Standard and
Poors. Higher credit ratings are directly related to lower interest rates on long-term
debt issued by the District. Sufficient fund balances also eliminate short-term
borrowings and related interest expense in the general fund and protect the
District if the State of Iowa reduces funding mid-year. A report on meeting this
target will be made annually to the Board.
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10000000
9000000
8000000
7000000
6000000
5000000
4000000
3000000
2000000
1000000
0
Cash
Authority
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 Basic
Calculation:
• Current year (11-12) Funding Per Pupil $5,883
2012-13 Allowable Growth Rate = 2%
2013-14 Allowable Growth Rate = 0% ???
(Regular Program Calculation-current year)
Current 4,382.3 X $5,883 = $25,781,071
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Budgeted Enrollment 2012-13: 4,507.9
12-13 calculation
2% 4,382.3 X $6,001 = $27,051,908 (+$1,270,837)
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Used to account for all financial
resources except those required to be
accounted for in another fund.
11-12 Levy = $ 12.80690
Estimated 12-13 Levy = $12.41147
REVENUES
EXPENDITURES
State Aid Formula
Salaries/Employee Benefits
Property taxes
(-Nutrition & Daycare)
Tuition/Open Enroll.
Supplies/Instructional Material
Miscellaneous Income
*May also be used for Buildings,
(Federal and State Targeted)
Equipment, Land, if not through
Cash Reserve
Other funds such as PPEL
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Special Revenue Fund, Must be
established in Districts receiving $’s
from student-related activities.
Athletics, Student Council, Music groups, Yearbook, Student clubs
REVENUES
EXPENDITURES
Admissions
Activity Travel
Activity Passes
Officials/Referees/Umpires
Family Passes
Supplies/Uniforms
Interest Income
Entry Fees
Balance Carryover
Bus Driver Salaries
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Special Revenue Fund Established for the purpose to
pay the cost of unemployment benefits, early
retirement benefits, & Liability Insurance and
judgments/settlements related to Liability.11-12
11-12 Levy = $ 0.77479
Estimated 12-13 Levy = $0.77894
REVENUES
EXPENDITURES
Property Tax Levy
Liability & Property Insurance
Interest Income
Workers Comp. Insurance
Balance Carryover
Automobile Insurance
Early Separation Program
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Special Revenue Fund Established for:
Facilities and Grounds, Maintenance,
Equipment.
Levy = Voted $ .67
Regular $ .33
REVENUES
EXPENDITURES
Property Tax Levy
Construction
Regular
Voter Approved
Equipment
Building Repairs
Balance Carryover
Capital Loan Note Payment
Investment Interest
School Busses
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Established Infrastructure Projects.
Currently: Buildings & Grounds, Property
Tax Relief through Debt Levy
REVENUES
EXPENDITURES
Bond Sales
Purchasing, Building, Furnishing
Interest Income
Repair and Remodel
Grants/Donations
Land Purchase and Preparation
SILO/SAVE Revenues
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Must be Established if Bonds or Other
authorized indebtedness
11-12 Levy = $ 1.98438
Estimated 12-13 Levy = $2.29201
REVENUES
EXPENDITURES
Property Tax Levy
Principal and Interest
Interest Income
Debt Service Expense
Balance Carryover
Legal Services
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“Enterprise” Fund that must be
established at all Public Schools
REVENUES
EXPENDITURES
Food Sales to Students/Adults
Salaries and Benefits
Interest Income
Food
State/Federal Subsidies
Supplies and Equipment
Special Functions
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“Enterprise” Fund that must be
established if the District is receiving
moneys from child care program(s).
REVENUES
EXPENDITURES
Fees
Salaries and Benefits
Interest Income
Food
State/Federal $’s
(Opportunity I)
Supplies and Equipment
Printing
Bus Drivers (Field Trips)
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“Enterprise” Funds that may be
established.
Vending Funds, Summer Camps, School Stores, TV Studio
REVENUES
EXPENDITURES
Fee based
School Store Supplies
Purchases
Vending Items
Supplies
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“Internal Service” Fund that may be
established.
REVENUES
EXPENDITURES
Charges against other funds
Supplies
Printing
Maintenance/Parts
Equipment (copiers)
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Funds that may be established for the
purpose of accounting for assets held
in a trustee capacity.
Foundation $’s, Parent Groups, Booster Club, Music Parents
REVENUES
EXPENDITURES
Fundraisers
Supplies
Investment Interest
Printing
Carryover Balance
Field Trips
Donations
Playground equipment
Bus Drivers (trips)
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
Residential Rollback has increased the past two years.. Future?
46.91% to 48.53% (2011-12) ($100,000 home = $48,530 taxable)
48.53% to 50.75% (2012-13) ($100,000 home = $50,750 taxable)
50.75% to ???
(2013-14) ($100,000 home = $???? taxable)
what is this? The portion/% Home owners pay on the assessed
value of their residential property…




Property Valuations … *See attached Valuation History Sheet
Desired cash Reserve Levy to maintain current cash level ($1.5M)
Management fund levy at ($1.2M)
$2.0M Debt Service Property tax relief continues

Budget Calculations for the 2012-13 fiscal year in March
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