Parkview School District 2013-2014 Budget Hearing and Annual

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Parkview School District
2014-2015 Budget Hearing and
Annual Meeting
Monday, August 18, 2014
5:30 p.m.
Parkview Jr./Sr. High School LMC
Parkview School District
2013-2014 Budget Overview
•
The Parkview School District is expected to have a
shortfall of $277,819.99 in the General Fund for the
2013-2014 fiscal year.
•
This number could change depending on the results of
the audit for 2013-2014.
•
The projected shortfall from last year’s Annual Meeting
was $331,699.81.
•
The District’s fund balance will be reduced by the
amount of the shortfall.
2
Parkview School District
2014-2015 Budget Overview
•
The Parkview School District is expected to have a
budget deficit of $186,730.30 for the 2014-2015 fiscal
year.
•
The main reason for the budget deficit is a reduction in
revenue from 2014-2015 due to declining enrollment.
•
The budget deficit will be paid for using funds from the
District’s fund balance.
•
The budget deficit would have been $536,730.30 if the
operational referendum for $350,000 did not pass.
•
2014-2015 numbers are still estimates at this time as
there are various factors that could still change the final
amount.
3
Parkview School District 20142015 Budget Timeline
•
The 2014-2015 Budget for the Parkview School
District is an estimate.
-
The budget presented today may change between
now and November 1st when the final levy is set.
-
Events that could change the final numbers.
•
The 3rd Friday pupil count in September.
•
Final Equalization Aid numbers from DPI.
•
The 2013-2014 audit.
•
Staffing changes with new hires.
4
School Finance Accounting
Basics
•
School districts in Wisconsin use the Wisconsin Uniform Financial
Accounting Requirements (WUFAR) to categorize all of their finances.
•
The WUFAR is fund accounting, which separates each revenue and
expenditure into a specific fund.
•
A majority of school finances are held in the General Fund (Fund 10), but
there are also other funds for areas like food service and special
education.
5
Parkview School District
2014-2015 Budget Adoption
GENERAL FUND
Audited
2012-2013
Unaudited
2013-2014
Budget
2014-2015
Beginning Fund Balance
Ending Fund Balance
REVENUES & OTHER FINANCING SOURCES
Transfers-In (Source 100)
Local Sources (Source 200)
Inter-district Payments (Source 300 + 400)
Intermediate Sources (Source 500)
State Sources (Source 600)
Federal Sources (Source 700)
All Other Sources (Source 800 + 900)
TOTAL REVENUES & OTHER FINANCING SOURCES
EXPENDITURES & OTHER FINANCING USES
Instruction (Function 100 000)
Support Services (Function 200 000)
Non-Program Transactions (Function 400 000)
TOTAL EXPENDITURES & OTHER FINANCING USES
2,772,042.00
2,528,348.59
2,528,348.59
2,250,528.60
2,250,528.60
2,063,798.30
0.00
3,791,188.95
248,754.00
600.00
5,936,548.57
161,677.02
290,469.41
10,429,237.95
0.00
3,780,354.54
340,039.00
8,040.00
5,805,953.22
200,166.33
65,685.98
10,200,239.07
0.00
4,012,199.66
339,389.00
500.00
5,705,537.00
199,225.00
63,897.78
10,320,748.44
5,005,806.18
3,958,404.33
1,708,720.85
10,672,931.36
4,958,884.81
3,819,400.42
1,699,773.83
10,478,059.06
4,693,189.89
3,993,731.54
1,820,557.31
10,507,478.74
•
The Department of Public Instruction requires every school district in the
state to complete a Budget Adoption sheet each year for the proposed
budget for the upcoming year and the last two years.
6
Parkview School District
Budget Cuts and Reductions for 2014-2015
•
In order to ease the financial shortfall for 2014-2015, the Parkview
School District has taken numerous steps to reduce expenses.
•
The District made changes to the health insurance plan for 20142015 by switching from a POS plan with Dean to an HMO plan.
Switching to an HMO plan helped reduce the cost impact of the
renewal rates from Dean for 2014-2015 which came in at a 8.9%
increase for 2014-2015. Going to an HMO plan reduced that
increase by 2%.
•
The Parkview School District has reduced the health insurance
alternative benefit amount for eligible staff by $1,500 per
employee.
•
The District has also reduced costs by not replacing the
technology education teacher, by reducing another teacher
position to half-time and from the replacement of teachers who
have retired or left.
7
Parkview School District
Revenue Limit
•
•
•
•
The revenue limit is adjusted each
year based on many factors
including enrollment, property
value and a per pupil adjustment.
From 2001 to 2010, the average
per pupil adjustment amount was
an increase of $237.90.
In 2011, the per pupil adjustment
amount was a decrease of $528.81
for every district in the state (Act
10).
In 2013, the per pupil adjustment
amount was $75 and will be $75
again this year with another $150
increase outside of the revenue
limit.
8
Year
Revenue
Limit
Yearly
Change
10-11
$11,102,556
0.70%
11-12
$10,162,211
-8.47%
12-13
$9,645,261
-5.09%
13-14
$9,608,961
-0.37%
14-15*
$9,661,699
0.55%
Parkview School District
Revenue Limit History
9
Parkview School District
Operational Referendum
•
Starting in 2014-2015, the Parkview School District will be able to
exceed the revenue limit by $350,000 for three years.
•
Without this approved operational referendum, the District would
have had a revenue limit of $9,311,699 this year, or $350,000
less than projected.
10.
A.
B.
C.
D.
E.
11.
12.
A.
B.
Total 2014-15 Non-Recurring Exemptions (A+B+C+D+E)
Non-Recurring Referenda to Exceed 2014-15 Limit
Declining Enrollment Exemption for 2014-15 (from left)
Energy Efficiency Exemption for 2014-15
Adjustment for Refunded or Rescinded Taxes for 2014-15
Prior Year Open Enrollment (uncounted pupils)
2014-15 Revenue Limit With All Exemptions (Ln 9 + Ln 10)
Total Aid to be Used in Computation (12A + 12B)
2014-15 July 1 ESTIMATE of General Aid
State Aid to High Poverty Districts (not all dists)
625,624
350,000
275,624
0
0
0
<<Ent er if not pre-f illed
<<Ent er if not pre-f illed
9,661,699
5,486,241
5,486,241
0
DISTRICTS WILL NEED TO PROJECT AN OCTOBER 15, 2014 AID ESTIMATE.
10
Parkview School District
State General Aid
•
•
Determining state general
aid each year involves
many different factors and
a complex calculation.
Year
State general aid for the
Parkview School District
has been decreasing
mainly due to declining
enrollment and the amount
of funding from the state,
the two main factors in the
equation.
11
State General Yearly
Aid
Change
10-11
$7,097,241
-4.49%
11-12
$6,387,517
-10.00%
12-13
$5,806,470
-9.10%
13-14
$5,646,272
-2.76%
14-15*
$5,486,241
-2.83%
Parkview School District
Local Property Taxes
Year
Tax Levy
Yearly
Change
10-11
$4,190,570
12.00%
11-12
$3,967,282
-5.33%
12-13
$3,927,580
-1.00%
13-14
$3,961,803
0.87%
14-15*
$5,125,576
29.37%
12
•
After a 12% increase in 20102011, the tax levy for the District
has decreased by 5.33% in 20112012, 1.00% in 2012-2013 and
then increased by .87% in 20132014. For 2014-2015, the tax
levy is expected to increase by
29.37% due mainly to the
operational and facility
referendums that were passed on
April 1, 2014.
•
The levy also increased due to
the reduction in state aid. Without
the referendums, the tax levy
would have increased by 5.36%.
Parkview School District
State General Aid and Local Property Tax
History
13
Parkview School District
Mill Rate
Year
State Avg. Dist. Avg. Yearly
Mill Rate Mill Rate Change
10-11
$9.80
$10.02
16.24%
11-12
$9.88
$9.87
-1.50%
12-13
$10.21
$10.02
•
The mill rate is a number used to
equate the amount of taxes that
will be assessed on a property
that has a certain valuation.
•
For example, a mill rate of $14.10
would equal a tax levy of $1,410
on a house valued at $100,000.
•
An increase or decrease of the
mill rate could vary due to
changes in property values.
•
It is important to remember that
the mill rate is an average for
multiple municipalities and an
individual’s actual mill rate could
vary.
1.52%
13-14
$10.36
$10.46
4.39%
14-15
n/a
$14.10
34.80%
14
Parkview School District
Enrollment FTE
•
•
Enrollment FTE (Full-Time
Equivalency) is not a head count,
but a calculation based on the
September counts, summer
school enrollment and resident
additions and subtractions.
The Parkview School District is
currently experiencing declining
enrollment, which has had an
adverse affect on the revenue
limit and the amount of state
general aid the District receives.
15
Year
Enrollment
FTE
Yearly
Change
10-11
992
-4.71%
11-12
952
-4.03%
12-13
931
-2.21%
13-14
891
-4.30%
14-15*
870
-2.36%
Parkview School District
Enrollment FTE History
16
Parkview School District
Open Enrollment
•
•
•
•
In addition to declining enrollment,
the Parkview School District also
has more students enrolling out of
the District than enrolling in through
open enrollment.
When a student who lives in a
district decides to attend another
district, the resident district must pay
the other district open enrollment
tuition for the student.
Open enrollment tuition per student
is $6,485.
Estimating open enrollment numbers
is difficult before the September
count due to many different factors.
17
Year
OE In FTE
OE Out
FTE
10-11
37.5
67.2
11-12
38.0
72.1
12-13
46.5
122.3
13-14
55.5
117.2
14-15*
56.0
124.0
Parkview School District
General Fund Revenue
•
It is projected that 90.73% of
General Fund (Fund 10)
revenue will come from state
aid (53.16%) and local property
taxes (37.57%).
•
The other sources of revenue
include open enrollment tuition,
district fees, and federal grants.
•
Only the tax levy for the
General Fund is represented on
this chart. The revenue from the
referendum is credited to other
funds (Fund 38 and 39).
18
Parkview School District
General Fund Expenses
19
•
It is projected that 64.46%
of general fund expenses
will be from salaries and
benefits for the General
Fund (Fund 10).
•
Purchased services include
expenses for services to
the District and open
enrollment tuition.
•
Other expenses include
capital purchases, lease
payments, fund transfers,
dues and fees and
insurance.
Parkview School District
General Fund Revenue and Expense History
20
Parkview School District
Fund Balance
•
Fund balance is not the same as a
cash account, it is a combination of
assets and liabilities.
•
The actual cash in the bank is
usually a lot lower during the year
than the fund balance.
•
•
Year
Ending
Balance
Fund
Balance %
10-11
$2,661,344.57
22.92%
11-12
$2,772,039.89
24.91%
12-13
$2,528,348.59
23.69%
13-14
$2,250,528.60
21.48%
14-15* $2,063,798.30
19.64%
If the fund balance drops below
$2,000,000, the Parkview School
District may need to short-term
borrow to cover expenses before
revenues come in.
The fund balance % is the fund
balance amount divided by
expenses.
21
Parkview School District
Fund Balance History
22
Parkview School District
Community Service Fund (Fund 80)
•
Since there is enough fund
balance in Fund 80 to pay for the
expenses listed, the Parkview
School District will not levy in
Fund 80 for the 2014-2015 fiscal
year.
•
However, Act 20 still requires the
District to report all expenses in
Fund 80 for the fiscal year.
•
The Community Service Fund
(Fund 80) Summary will have a
more detailed breakdown of the
expenses for 2014-2015. This
document can be found in the
Annual Meeting packet and on
the District website.
Description
23
Amount
Community LMC
Staff
Parkview Voice
(Staffing and
Materials)
Summer Rec
Program
$14,750.00
Community Sign
$800.00
Total
$27,800.00
$4,300.00
$7,950.00
Contact Information
• Ben Irwin - Business Manager
• Email - [email protected]
• Phone - 608-879-2717 ext. 6114
• Office located in the Parkview Jr./Sr. High
School Main Office
• A copy of this PowerPoint and other budget
information can be found on the Parkview
School District website under the Business
Office link.
24
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