Assumptions for the 2018-19 Budget Presented to the Board of - - PowerPoint PPT Presentation

Assumptions for the 2018-19 Budget

Presented to the Board of Trustees, May 22, 2018

Unrestricted General Fund Projections

5/22/2018 2 2018-19 Budget

2017-18 Estimated Actuals 2018-19 Adoption Budget 2019-20 Projected 2020-21 Projected Revenue 39,966,472 41,974,062 42,847,090 44,941,886 Expenditures 39,748,499 42,451,768 42,830,519 44,344,833 Increase/Decrease 217,973 (504,706) 16,571 597,053 Beginning Fund Balance 322,835 540,808 36,102 52,673 Ending Fund Balance 540,808 36,102 52,673 649,726 Reserved for Textbooks (472,879) Unappropriated Bal. 56,779 36,102 52,673 649,726 Balance in Fund 17 3,204,601 3,224,601 3,244,601 3,264,601 Total Reserve 3,261,380 3,260,703 3,297,274 3,914,327

Enrollment/ADA

• The budget projections assume student

growth

5/22/2018 2018-19 Budget 3

2017-18 2018-19 2019-20 2020-21 Enrollment 3,424 3,474 3,524 3,574 ADA 3,277 3,311 3,358 3,406

Revenue Assumptions

• Property Taxes: The growth in assessed valuation for

2018-19 is strong. Assumed 5% increase in property taxes in 18-19 and 4.5% thereafter

5/22/2018 2018-19 Budget 4

2.17 2.30 2.91 3.39 3.61 3.80 4.10 4.22 4.53 4.86 5.32

JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER JANUARY FEBRUARY MARCH APRIL MAY JUNE

18-19 Tax Roll Percent Increase over 17-18

Revenue Assumptions

• One-Time Funds: The governor’s May Revision

includes one-time funds of $344 per ADA, up slightly from the January proposal. The district is maintaining an assumption of $900,000, which is the same as assumed previously. One-time funds offset mandated cost claims

• State COLA: the cost of living adjustment for

state programs such as Special Education is 2.71%

5/22/2018 2018-19 Budget 5

Revenue Assumptions

• Lottery Funding: is assumed to remain at

$146/ADA unrestricted and $44/ADA restricted

• These funds are distributed to schools for

instructional materials and other site discretionary purposes

5/22/2018 2018-19 Budget 6

Other Funding

• Parcel Taxes: are flat at $49 per parcel, with

total annual revenue of $965,000

• Facility Use Fees: A portion of these fees is

recorded in Fund 40, the Special Reserve for Capital Outlay. The amount in the General Fund is budgeted at $300,000

• Rental Income: Rental Income at 809

University Avenue and the District office is $120,000

5/22/2018 2018-19 Budget 7

Expenditure Assumptions

• The budget assumes a 2.0 FTE increase in

teachers annually to account for enrollment

• increases. This cost is partially offset by an

assumption of 2 retirements annually. In 2018-19 an increase of a 0.8 FTE psychologist is also assumed

5/22/2018 2018-19 Budget 8

2017-18 2018-19 2019-20 2020-21 FTE 302.5 305.3 307.3 309.3

Salary Costs

• Salaries and benefits have been adjusted to

reflect current staffing costs

• For purposes of developing the budget the

cost of the tentative agreement with CSEA has been included

5/22/2018 2018-19 Budget 9

PERS and STRS

• These rates continue to rise. The PERS rate for

2018-19 is higher than originally expected

5/22/2018 2018-19 Budget 10

2017-18 2018-19 2019-20 2020-21 STRS 14.43% 16.28% 18.13% 19.10% PERS 15.531% 18.062% 20.80% 23.80%

Health and Welfare

• The district will learn of the new rates to be

implemented on January 1, 2019 after the budget adoption. The assumption is a 10% increase in medical and no increase in vision and dental.

• Actual rates will be adjusted as of the First

Interim report.

5/22/2018 2018-19 Budget 11

Textbooks

• One time funds received in 2017-18 have been

reserved in the unrestricted ending fund

• balance. These funds ($472,879) will be spent

in 2018-19, and later.

5/22/2018 2018-19 Budget 12

5/22/2018 2018-19 Budget 13