2020 2021 Budget Planning Update April 20, 2020 2020 2020-2021 - - PowerPoint PPT Presentation

2020 – 2021 Budget Planning Update

April 20, 2020

2020 2020-2021 Bu Budget Pla lannin ing Ca Cale lendar

• April 20, 2020

Budget Planning Update for Board of Trustees

• April 30, 2020

Receive Certified Estimated Tax Values

• April – May

Work Sessions with Executive Cabinet

• May 18, 2020

Budget Planning Update for Board of Trustees

• June 11, 2020

Publish “Notice of Public Meeting to Discuss Budget and Proposed Tax Rate” & post summary of proposed budget on district website

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2020 2020-2021 Bu Budget Pla lannin ing Ca Cale lendar

• June 22, 2020

Public hearing on 2020-2021 proposed budget; Board of Trustees adopts the 2020-2021 budget and approves final 2019-2020 budget amendment

• July 25, 2020

Receive Certified Taxable Values from HCAD & TCAD

• August 24, 2020

Board of Trustees approve Certified Appraisal Roll for Tax Year 2020

• Aug/Sept, 2020

Board of Trustees adopts tax rate for 2020

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2020 – 2021 Budget Planning

Original Budget Current Revised Budget Projections on Actual Thru March, 2020 Variance Explanation of Variances & Other Notes Revenues:

Taxes (Current & Delinquent) 56,650,000 $ 56,650,000 $ 58,075,000 $ 1,425,000 $ TAVs have increased since July certified and collections are strong Taxes (P&I) 200,000 200,000 150,000 (50,000) Other Local 1,792,500 1,792,500 1,910,015 117,515 Would be higher except projecting refunds of $200k Pre-K tuition State - ASF & FSP 3,466,622 3,839,070 4,010,183 171,113 State - Other 2,797,373 3,178,005 3,100,000 (78,005) Federal 558,100 1,158,100 1,262,705 104,605 2 Yrs SHARS Adj. Settlements - 2016-17 & 2017-18 Other Sources 100,000 100,000 100,000

• Total Revenues

65,564,595 $ 66,917,675 $ 68,607,903 $ Recapture (3,110,703) (2,581,022) (2,409,712) 171,310

Revenues Less Recapture 62,453,892 $ 64,336,653 $ 66,198,191 $ 1,861,538 $ Expenditures:

Payroll Costs 52,968,059 $ 53,678,301 $ 53,250,000 $ (428,301) $ Based on nine months of fiscal year activity Contracted Services 5,177,211 5,223,549 4,300,000 (923,549) Recapture 3,110,703 2,581,022 2,409,712 (171,310) Supplies and Materials 2,513,687 2,618,309 2,900,000 281,691 Includes Technology #6 Refresh approved by Board in March Other Operating Costs 1,125,728 1,170,365 1,100,000 (70,365) Debt Service 1,133,667 1,133,667 1,133,667

• Capital Outlay

164,290 168,764 168,764

• Other Uses

95,000 95,000 95,000

• Total Expenditures

66,288,345 $ 66,668,977 $ 65,357,143 $ (1,311,834) $ Recapture (3,110,703) (2,581,022) (2,409,712) 171,310

Expenditures Less Recapture 63,177,642 $ 64,087,955 $ 62,947,431 $ (1,140,524) $ Net Operating Results (723,750) $ 248,698 $ 3,250,760 $ 3,002,062 $

Transfers In/(Out)

• (500,000)

(500,000) Allot for transfers out for CN, CDC & Kids Club due to Covid-19

Net Change to Fund Balance (723,750) $ 248,698 $ 2,750,760 $ 2,502,062 $

Beginning Fund Balance 36,635,702 36,635,702 36,635,702

Estimated Ending Fund Balance 35,911,952 $ 36,884,400 $ 39,386,462 $

Dripping Springs Independent School District Summary of Revenue and Expenditure Projections thru June 30, 2020 Fiscal Year 2019-2020 5

Texas Economy & Budget Outl tlook

• State Comptroller Glenn Hegar Interview on April 7, 2020
• Texas economy strong through March, 2020
• Pandemic & oil price drop has now put Texas in recession
• Recommends state agencies to start looking for savings now
• Expects a difficult budget session when lawmakers return in January, 2021
• Economic Stabilization Fund (ESF) will help meet obligations this biennium
• ESF projected to be $8.5 billion at end of biennium
• 2020 Property Values
• Appraisal districts are concerned about how to handle protests with shelter in

place guidelines

• State statute require appraisal as of January 1 and Comptroller has no authority to

waive that requirement

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• Budget Parameters:
• Enrollment of 7,696, an increase of 486 students, for staffing &

7,542 (98%) for funding based off of PASA projections

• Average Daily Attendance – 94.5%
• Local property value increase of 10.00%
• Will receive Preliminary Certified Values in late April
• Cost-of-living increase – 2%
• Inflationary increase – 1.2% on non-payroll accounts
• Include growth of 40 new FTE’s (30 approved + 10 contingency)
• Maintain $300 monthly contribution to health insurance
• Maintain $75 monthly contribution to HSA/HRA for employees taking

health insurance

2020 2020-2021 Bu Budget Preparation

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Projections Projection Notes Revenues: Taxes (Current & Delinquent) 58,750,000 $

Based on 98.00% collections on TAV estimates

Taxes (P&I) 200,000 Other Local 1,492,500

Reduced interest earnings budget by $300k vs 2019-20

State - ASF & FSP 4,824,655 State - Other 3,549,773 Federal 500,000 Other Sources 100,000 Total Revenues 69,416,928 $ Recapture (1,984,804) Projected Revenues Less Recapture 67,432,124 $

Based on 7,542 student enrollment at 94.5% attendance

Expenditures: Payroll Costs 57,448,502 $

Based on a 2% Cost of Living Adjustment increase

Contracted Services 5,467,588 Recapture 1,984,804 Supplies and Materials 2,742,606 Other Operating Costs 1,353,943 Debt Service 554,178 Capital Outlay 106,790 Other Uses 95,000 Total Expenditures 69,753,411 $ Recapture (1,984,804) Projected Expenditures Less Recapture 67,768,607 $

Current 2019-2020 revised budgeted amount - $64,087,955

Net Operating Results (336,483) $ Dripping Springs Independent School District Summary of Revenue and Expenditure Projections Fiscal Year 2020-2021

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Net Operating Results (336,483) $ 2% Budget Deficit Limit (1,388,339) $ Deficit Amount Exceeding Limit

• $

Transfers In/(Out)

• Fund Balance Expenditure Designations

Buses - 7 new in 2020-2021 800,000 $

• Net Change to Fund Balance

(1,136,483) $ Beginning Fund Balance (Projected) 39,386,462 Estimated Ending Fund Balance 38,249,979 $ Dripping Springs Independent School District Summary of Revenue and Expenditure Projections Fiscal Year 2020-2021

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7.76 7.31 7.29 6.52 7.40 6.75 7.43 7.45 6.77 $- $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 $30,000,000 $35,000,000 $40,000,000 $45,000,000 5.00 5.50 6.00 6.50 7.00 7.50 8.00 2013 2014 2015 2016 2017 2018 2019 2020 - Projections 2021 - Projections

Dripping Springs ISD - Fund Balance History (2013 - 2021)

Actual Months of Operating Expenditures Year End Annual M&O Fund Balances 4 Months Operating Expenditures 12

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