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Evansville Vanderburgh School Corporation 2021 Budget Presentation August 10, 2020
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Board Approval Required
2021 Funds Education Fund Operations Fund Rainy Day Debt Service and Exempt Debt Service
2021 Budget
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August 10, 2020 1 2021 Budget Board Approval Required 2021 Funds - - PowerPoint PPT Presentation
August 10, 2020 1 2021 Budget Board Approval Required 2021 Funds - - PowerPoint PPT Presentation
Evansville Vanderburgh School Corporation 2021 Budget Presentation August 10, 2020 1 2021 Budget Board Approval Required 2021 Funds Education Fund Operations Fund Rainy Day Debt Service and Exempt Debt Service 2 2021 Budget 2021 Budget
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2021 Budget Assumptions
1. Enrollment projections reflect 2019-2020 levels.
2021 Budget
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Education Fund Revenue
2021 Basic Tuition Support Factors I.C. 20-43
- Basic Tuition Support/Complexity Grant
- Honors
- Special Education
- Vocational Education
2021 Budget
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2021 Budget Funding Formula 2021
1. Basic Tuition Support/ Complexity Grant $145,759,400 2 Academic Honors Diploma 508,600 3. Special Education (Based on Exceptionality) 12,479,976 4. Vocational Education (Based on Course) 2,822,410 TOTAL $161,570,386
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2021 Budget Education Revenue Total
Basic Grant 161,570,386 Miscellaneous State and Local 1,200,000* TOTAL $162,770,386
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*Revenue may be lower due to COVID-19
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Permissible Education Fund
Expenditures
All Category 1 (“Academic Achievement”) and 2 (“Student Support”) Expenditures Examples Include: Teachers Principals Counselors Nurses Secretaries Teacher Assistants Classroom Supplies and Equipment 2021 Budget
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2021 Budget
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2021 Budget Operations Fund Revenue Source Property Tax Miscellaneous Taxes:
- Motor Vehicle Excise Tax
- Commercial Vehicle Excise Tax
- Financial Institutions Tax
Local Revenue Sources Education Fund Transfers
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2021 Budget Operations Fund Revenue 2021
1. Property Tax $43,437,858 2 Miscellaneous Tax 3,692,910 3. Local Revenue Sources 12,469,819 4. Education Fund Transfers 22,000,000 TOTAL $81,600,587
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Permissible Operations Fund
Expenditures
All Category 3 (“Overhead”) and 4 (“Non-Operational”) Examples Include: Operations Daycare Insurance Utilities Vendor Services 2021 Budget
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2021 Budget
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2021 Budget Capital Projects Plan (Operations Fund)
Capital Projects Plan – Three-Year Plan Construction/Improvements Building Construction Building Renovation Building Repair Building Maintenance Utilities Equipment and Technology Equipment/Technology Purchases Equipment/Technology Repair
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2021 Budget Capital Projects Detail (Operations Fund) 2021
Improvements and Replacements: Construction/Improvements 19,800,722 Lease/ Purchase 500,000 Utilities 4,651,747 Technology 2,801,123 Equipment 445,000 Skilled Labor 1,000,000 Emergency Allocation 300,000 Total $29,498,592
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2021 Budget Transportation Funds (Operations Fund)
Transportation Operating Bus Replacement Budget - $14,690,036 Budget - $11,351,710 5 year Replacement Plan Statutory provision for Fair Market Lease
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2021 Budget Five Year Bus Replacement Plan Eligibility 2021
Thirty-Seven 72-Passenger Buses 3,748,000 Thirty-Two 54 Passenger Ambulatory Buses 3,296,000 Twenty- One 54 Passenger Size W/C Buses 2,901,000 One 42 Passenger Tour Bus 250,000 Six 14 Passenger Conforming Vehicles 420,000 Fair Market Lease Value 736,710 TOTAL $11,351,710
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2021 Budget Art Institute Fund (Operations Fund) Funding currently provided to The Arts Council of Southwestern Indiana to provide ongoing programs for our students Budget - $375,000
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2021 Budget Historical Society Fund (Operations Fund) Funding to Bosse Field Historical Society Budget - $750,000* *The State inadvertently omitted in 2019 the availability of the levy. A one
time correction allowing to capture funds was approved during the last legislative session. Moving forward it is anticipated this will remain at a level that is equal to the Art Institute Fund.
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2021 Budget Debt Service - Regular
2021 Expenditure Budget Debt Service – Regular $15,297,478
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2021 Budget Debt Service - Exempt
2021 Expenditure Budget Debt Service – Exempt $12,321,000
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2021 Budget Rainy Day Fund 2021 Budget
Personal Services $7,934,517 TOTAL $7,934,517
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2021 Budget
2021 Fund Name Advertised Budget Anticipated Funding Education Fund 140,030,458 140,030,458 Operations Fund 30,355,597 30,355,597 Capital Projects Plan (Operations Fund) 29,498,592 21,188,915 Bus Transportation (Operations Fund) 14,690,036 14,690,036 Bus Replacement (Operations Fund) 11,351,710 2,534,135 Art Institute (Operations Fund) 375,000 307,778 Historical Society (Operations Fund) 750,000 615,556 Debt Service – Regular 15,297,478 15,297,478 Debt Service – Exempt 12,321,000 12,321,000 Rainy Day 7,934,517 TOTAL $262,604,388 $237,340,953
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2021 Property Tax Caps are estimated at $9,521,740.00
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2021 Budget 2020 School Corporation Tax Rates for the 5 largest Indiana School Districts
Indianapolis Public Schools 1.4284 Hamilton Southeastern 1.2521 South Bend 1.0414 Fort Wayne .9660 EVSC .9420
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2021 Budget
August 24, 2020 Board Meeting- Budget Review and Permission to Advertise Budget August 26, 2020 Bus Replacement Plan and Capital Projects Fund in Gateway and posted on the EVSC website September 8, 2020 Board Meeting – Public Hearing of Proposed 2021 Budget, Bus Replacement Plan and Capital Projects Plan September 21, 2020 Board Meeting – Proposed 2021 Budget, Bus Replacement Plan, and Capital Projects Plan Adopted by the Board at Public Meeting
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