2018-19 Budget Workshop May 21, 2018 2018-19 Summary of Fund Types - - PowerPoint PPT Presentation

2018-19 Budget Workshop

May 21, 2018

Supported Funds $234,388,424 Flow-Through $31,463,046 Self-Supported $23,055,086 Capital & Debt Retirement $78,020,891 Federal $11,105,298

2018-19 Summary of Fund Types

SUPPORTED (OPERATING) FUNDS

• Funds are used to account for the general operation
• f the district.
• Includes the general and supplemental general fund,

as well as other funds that are supported by transfers from these funds.

• Main revenue sources -- state aid, local taxes and

reimbursable fees.

Current Budget Assumptions:

Funding

• BASE increases $159 to $4,165
• Special Education funding increased due to increase

in categorical aid and transportation cost reimbursement

• LOB funding decreases due to less weighted FTE

Anticipated Funding

2018-19 Est. Funding – KSDE Runs

Weighted FTE Increase General State Aid 35,599.2 2,391,167 SPED State Aid 4,842.5 1,904,459 LOB Restored 36,303.9

• Funding Increase

$4,295,626

2018-19 Est. Funding – SMSD Estimate

Weighted FTE Increase General State Aid 35,653.7 3,064,549 SPED State Aid 5,272.6 2,025,900 LOB Restored 35,653.7 (961,919) Funding Increase $4,128,530 Reimbursables/Other 444,319 Estimated Funding Increase $4,572,849

Adjustments for SMSD Estimate

• Enrollment drop after 2015-16 (-376.8 FTE)
• Student Growth Reserve added ($1.2 million)
• Bilingual – decreased 15%
• Vocational Ed – increased 10%
• New Facilities – Lenexa Hills added
• Declining enrollment eliminated (-397.8 FTE)

2018-19 Estimated Supported Funds

General $148,497,931 LOB 61,440,697 Special Education 21,866,635 Reimbursables 2,491,750 Medicaid 1,340,000 Other 898,465 Total $236,535,478

Current Budget Assumptions:

Expenditures

• Professional Growth included; no other salary

increases - $500,000

• Personnel Changes of 15.9 FTE - $1,606,000
• Maintains health cap at $649 - $657,000
• Includes 3% increase for transportation - $444,000
• Includes decrease for textbooks – ($900,000)
• Student Growth Reserve added - $1,200,000

112,840,949 48.2% 1,541,534 0.7% 12,713,799 5.4% 26,459,880 11.3% 9,361,047 4.0% 32,443,426 13.8% 14,353,522 6.1% 9,639,493 4.1% 12,949,100 5.5% 2,085,675 0.9%

2018-19 Budget Summary

Teachers Pyschologists Administrators Classified Other Salaries Benefits Transportation Utilities Supplies & Services Other

83.4% of Budget for Salaries and Benefits – $195,360,634

Summary of Fund Balances

Actual Restated Original Projected Anticipated 2016-17 2017-18 2017-18 2018-19 Base State Aid Per Pupil $3,852 $4,006 $4,006 $4,165 Revenues $216,099,302 $234,628,748 $231,962,629 $236,535,478 Expenditures $216,507,717 $233,182,089 $233,158,820 $234,388,424 Surplus (Deficit) Operating ($408,415) $1,446,659 ($1,196,191) $2,147,054 Workers' Compensation 600,000 Beginning Fund Balance $15,910,190 $15,501,775 $15,501,775 $14,305,584 Ending Fund Balance $15,501,775 $16,948,434 $14,305,584 $16,452,638 Balance as % of Expenditures 7.16% 7.27% 6.14% 8.13% Workers Comp Reserve $2,600,000 $2,600,000 $2,600,000 $2,600,000 Contingency Reserve $5,638,052 $5,638,052 $5,638,052 $5,638,052

FLOW-THROUGH FUNDS TO THE STATE

Cost of Living $ 6,508,796 KPERS 24,954,250 Total $ 31,463,046

SELF-SUPPORTED FUNDS

• Revenue received equals (or exceeds) the

expenditure budget

• Receive no transfers from general or LOB fund
• Revenue received is for a specific purpose
• Revenue includes:
• Fees
• Local Taxes
• Interest
• Gifts, Grants, and/or Donations

Self Supported Funds

Fund Beginning Balance Receipts Expenditures Ending Balance Adult Supplemental $ 35,421 $ 0 $ 35,421 $ 0 E‐School 389,264 76,500 81,235 384,529 Food Service 3,538,957 10,998,367 14,532,452 4,872 Summer School 947,519 474,000 768,562 652,957 Special Liability 1,847,982 401,042 1,241,675 1,007,349 Student Materials 346,102 739,000 1,085,102 Textbook Rental 3,750,643 919,755 2,877,909 1,792,489 Health Reserve 51,724 1,336,000 1,320,000 67,724 Gifts, Grants & Donations 1,345,113 1,169,671 1,026,641 1,488,143 Drug Free Schools‐Local 47,089 39,000 86,089

CAPITAL & DEBT RETIREMENT FUNDS

• Capital Outlay fund - receives local taxes for the purpose
• f construction, repair, remodeling, furnishings,

equipment, software, uniforms and technology for district facilities.

• Debt Retirement fund - receives local taxes for the

payment of interest & principal on general long‐term debt and special assessments.

• These funds can not be used for operating expenditures.

Assessed Valuation (In Billions)

0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 $3.863 6.24%

Beginning Fund Balance $ 18,365,395 Property Taxes 29,683,598 Motor Vehicle Taxes 3,258,514 Miscellaneous 49,853 Apple Repair/Replacement Fees 150,000 Apple Trade-In 1,653,100 Sale of Warehouse 2,400,000 Total Budget Available $55,560,460

Capital Outlay:

Revenue

Instructional $ 980,317 Departments 4,708,717 Operations and Maintenance 12,550,000 Salaries and Benefits 4,356,723 Bond and Note Payments 19,539,843 Unallocated Projects 8,424,859 Total Capital Outlay $ 50,560,459

Capital Outlay:

Expenditures

0.00 5.00 10.00 15.00 20.00 25.00 30.00 2019 2021 2023 2025 2027 2029 2031 2033 2035 2037 2039 In Millions

Debt Service Requirements by Year and Issue

1996A - Refunding 2008A - Refunding 2012A - Refunding 2015A - Construction 2016B - Construction Interest

7.440 Current Mill Rate 7.434 Projected Mill Rates 7.434 6.934 6.934 6.934 6.934

Fund Beginning Balance Receipts Expenditures Ending Balance Bond & Interest $ 23,833,183 $ 29,666,958 $ 26,560,432 $ 26,939,709 Special Assessment 640,751 753,939 900,000 494,690

Other Debt Funds

• Federal grants received directly from the federal

government or passed through the state of Kansas.

• Restricted to the specific use detailed in the grant

documents.

FEDERAL FUNDS

Title I $3,205,001 Title I Migrant 73,000 Title IIA 609,192 Title III 232,494 Title VIB 6,166,203 Carl Perkins 175,087

0.000 10.000 20.000 30.000 40.000 50.000 60.000 70.000 Special Liability Special Assessment Declining Enrollment Cost of Living Bond & Interest Capital Outlay LOB General Fund * Anticipated 2018 cost to owner of $200,000 home -- $1,169

Mill Levy History

Projected 2018 Mill Levy – 52.822 (1.57% decrease)

Projected Expenditures 2017-18 Requested Budget 2018-19 Supported $ 233,158,820 $ 234,388,424 Self‐Supported Funds 15,780,021 23,055,086 Capital & Debt Retirement 69,247,250 78,020,891 Flow‐Through Funds to State 29,607,038 31,463,046 Federal Funds 11,519,882 11,105,298 Total Budgets* $ 359,313,011 $ 378,032,745 * Actual budget amounts will be increased by student growth reserve, fund transfers and ending balances in accordance with the state reporting format.

Total of All Budgets

Budget Timeline

Budget Workshop May 21,2018 Approval of Publication July 23, 2018 (tentative) Publication of Notice of Hearing in KC Star July 26, 2018 (approximately) 10-day Publication Noticed Ends August 5, 2018 Budget Hearing and Adoption August 13, 2018 (tentative) Budget Submission Deadline August 25, 2018 Presentation can be found at SMSD.org – Budget & Finance Section