2015-16 Budget Hearing Monday, October 19 th , 2015 @ 4:00 p.m. - - PowerPoint PPT Presentation

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2015 16 budget hearing
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2015-16 Budget Hearing Monday, October 19 th , 2015 @ 4:00 p.m. - - PowerPoint PPT Presentation

May 17, 2023 44 likes •268 views

2015-16 Budget Hearing Monday, October 19 th , 2015 @ 4:00 p.m. Board Conference Room, District Office Building 200 S. Broadway Green Bay, WI 54303 Mission Statement: We educate every child to be college, career and community ready,

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2015-16 Budget Hearing

Monday, October 19th, 2015 @ 4:00 p.m. Board Conference Room, District Office Building 200 S. Broadway Green Bay, WI 54303

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Mission Statement:

We educate every child to be college, career and community ready, inspired to succeed in our diverse community.

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Why a Budget Hearing?

Per Wisconsin Statute 65.90, staff and board shall formulate a proposed budget, hold a public hearing and adopt a budget identifying expected revenues, expenditures and fund balances.

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Debt Capacity

  • The total indebtedness of a public K-12

school district may not exceed ten percent (10%) of the equalized value of property in the school district or $811,507,881 for GBAPS.

  • GBAPS has total debt of $12,762,643
  • Represents 0.157% of our property value.
  • Represents 1.57% of our borrowing authority.

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Health of Debt: Bond Rating

It is possible that the District will be incurring new debt in the next few years, so this rating is important to maintain through healthy financial decisions, specific to fund balance and expenditure justification.

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Community Service Fund Activity

Per Statute, the State of Wisconsin requires communication to provide awareness of the types of expenses included in our Fund

  • 80. The following is a summarized list:
  • After-school academic programming is offered to students of

various schools

  • Middle School sports are available to age-appropriate members
  • f the community
  • School & Community Resource Officers
  • Board of Education communications, specific at it relates to the

taping of monthly meetings (No notable changes have been made compared to last year)

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Fund Balance: GASB 54

Rules under the Governmental Accounting Standards Board require categorization of fund balance into descriptors.

  • General Fund (Fund 10) fund balance increased by $126,952 (audited) as a result of fiscal

awareness and conservancy

  • Special Projects Fund (20’s Funds) decreased slightly by $2,587 due to use of fund balance

from prior fund-raising opportunities

  • Debt Services Fund (30’s Fund) increased fund balance by $4,207,801 due to a transfer from

the District’s General Fund to offset future unfunded debt

  • Capital Projects Fund (40’s Funds) decreased fund balance by $5,191,509 due to incurring

expenses related to renovation projects approved by the Board of Education

  • Food Service Fund (Fund 50) increased fund balance by $721,117 due to efficiencies in

production and procurement

  • The Community Service Fund (Fund 80) began with a balance of $136,880 and the district

underspent leaving an ending balance of $803,455 to be used in the 2015-16 school year

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Basic School Funding Formula #1

Revenue Limit = General State Aid + Property Taxes

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Students Drive our Revenue

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Allowed per-Pupil Change

206.00 206.00 208.88 212.43 220.29 226.68 230.08 236.98 241.01 248.48 256.93 264.12 274.68 200.00 200.00 (627.07) 50.00 75.00 75.00 (700.00) (600.00) (500.00) (400.00) (300.00) (200.00) (100.00) 0.00 100.00 200.00 300.00 400.00 96-97 97-98 98-99 99-00 00-01 01-02 02-03 03-04 04-05 05-06 06-07 07-08 08-09 09-10 10-11 11-12 12-13 13-14 14-15

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No increase is allowed for 2015-16 per State statute…

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Act 10… …It Still Applies.

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Our 2015-16 Estimated Revenue Limit

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Counted Students (Membership) X (Multiplied by) Allowable Revenue per Student = Revenue Limit

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Formula #1 ~ Revisited

Revenue Limit = General State Aid + Property Taxes

OR…more appropriately:

Revenue Limit – General State Aid

= Property Taxes

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General State Aid

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Basic School Funding Formula #2

Tax (Mill) Rate = Property Taxes (Levy) ÷ Total Assessed (Equalized) Value (Why is this important?...)

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Property Values Drive Taxes

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Basic School Funding Formula #2

  • Rate is spread out equally among all

taxpayers

  • Differences in values across the state

impact us

Tax (Mill) Rate = Property Taxes (Levy) ÷ Total Assessed (Equalized) Value = ÷

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A History of a Home’s Taxes

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…Accurate as an “Average”.

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Expenses

Assumptions are still visible this afternoon as we discuss both revenues and

  • expenditures. Because of this:
  • Membership count will be updated before 11/2
  • Final State Aid amount has yet to be provided
  • Impact of Vouchers is not included in this information
  • Salaries need to be finalized ~ but ~ Benefits are set
  • Budget is a working document…amendments will be

brought forward as changes need to be made

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2015-16 Budget Proposal

  • A $3.8M deficit budget is being presented
  • Chappell renovation of $2.0M included
  • No increase in per-student revenue
  • Staffing (# and possible raises) have been budgeted, as have all benefits
  • Use of fund balance will offset the deficit assuming that all

expenditures are realized

  • Our membership count is based on estimates
  • Our General State Aid is an estimate and will be finalized soon
  • The levy ($) is estimated to rise approximately 2.0%
  • The mill rate (%) is estimated to decrease by >1.0%*
  • The District continues to be financially stable
  • Vouchers are not included in today’s information and will have

an impact on most of the above data

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Questions?...

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Thank you…