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 2017-18 2018-19 2019-20 2020-21 Estimated Adoption Projected Projected Actuals Budget 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) 0 0 0 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 5/22/2018 2018-19 Budget 2

Enrollment/ADA • The budget projections assume student growth 2017-18 2018-19 2019-20 2020-21 Enrollment 3,424 3,474 3,524 3,574 3,277 3,311 3,358 3,406 ADA 5/22/2018 2018-19 Budget 3

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 18-19 Tax Roll Percent Increase over 17-18 2.91 3.39 3.61 3.80 4.10 4.22 4.53 4.86 5.32 2.17 2.30 JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER JANUARY FEBRUARY MARCH APRIL MAY JUNE 5/22/2018 2018-19 Budget 4

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 2017-18 2018-19 2019-20 2020-21 302.5 305.3 307.3 309.3 FTE 5/22/2018 2018-19 Budget 8

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 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% 5/22/2018 2018-19 Budget 10

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