CEDAR FALLS COMMUNITY SCHOOL DISTRICT 2018/19 Budget Presentation
GOALS & PRINCIPALS OF IOWA SCHOOL’S FOUNDATION FORMULA (GENERAL FUND) Equity in expenditures Pupil-driven Property tax relief Provide for local discretion and incentives Equalization of method of taxation ESTABLISHES MAXIMUM SPENDING CONTROL Uniform state aid allocation formula Same formula for all Iowa K-12 public schools and Predictable AEA’s
FOUR KEY FACTORS IOWA PUBLIC SCHOOL FOUNDATION FORMULA 1. Enrollment Number of students enrolled on October 1 st determines budget and spending authority for the following school year 2. Equalization Legislature established a law that “cost per student” across the state will be nearly equal to ensure every student equal access to a quality education 3. Supplemental State Aid Growth (SSA) Legislature & Governor control the annual increase in dollars available per student State foundation formula sets t the e expendit iture c ceilin iling for each school district’s total spending authority and tells lls the school district how to fund its spending authority. 4. Balance The ratio of property tax & state aid supporting a district’s budget varies by district. Districts with a higher “assessed valuation per student” will receive less state aid.
IOWA PUBLIC SCHOOL FOUNDATION PROGRAM - STATE AID Iowa Code Chapter 257.1(2) “... each school district in the state is entitled to receive foundation aid, in an amount per pupil equal to the difference between the amount per pupil of foundation property tax in the district, and the combined foundation base per pupil or the combined district cost per pupil, whichever is less.
GENERAL FUND BUDGET DETERMINATION Aid & Levy Budget Worksheet Implements the school foundation aid formula Calculates the amount of spending authority, state aid and property taxes for a school district Formula first determines the total maximum spending authority Determines state aid vs. property taxes
CERTIFIED ENROLLMENT SECTION 1 4,754.7 4,781.4 4,862.4 4,859.1 4,907.3 5,052.1 5,146.8 5,127.5 5,200 95.6 99.6 5,000 101.0 108.0 4,800 121.0 121.0 292.1 4,600 311.8 tudent Stu 5,051.2 5,027.9 4,400 4,951.1 4,799.3 4,741.4 4,738.1 4,200 4,489.3 4,442.9 4,000 3,800 Oct-10 Oct-11 Oct-12 Oct-13 Oct-14 Oct-15 Oct-16 Oct-17 CF OE Out
SPECIAL ED ENROLLMENT BY PERCENTAGE SECTION 3 14% 1.47% 12% 1.36% 1.31% 1.47% 10% 3.11% 2.02% 1.35% 2.08% 1.57% 2.71% 2.90% 8% 2.88% 3.21% 3.06% 3.27% 2.99% 6% 8.51% 4% 8.08% 7.22% 6.58% 5.89% 5.72% 5.67% 5.62% 2% 0% Oct 10 Oct 11 Oct 12 Oct 13 Oct 14 Oct 15 Oct 16 Oct 17 L1 L2 L3
HISTORY OF SUPPLEMENTAL STATE AID IN PERCENTAGE 8.00% 7.00% 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% 0.00% Fy12 Fy13 Fy14 Fy15 Fy16 Fy17 FY18 FY19 Cedar Falls CF w/o PLS State
SSA COMPARISON - SIMILAR SIZED SCHOOLS State te School Dis Distric ict 20 2017/18 18 RP RPDC DC 2017/ 7/18 8 10 10/1/ 1/17 7 2018/ 8/19 R 19 RPDC Do Dolla llar G Growth % % Per Pe Pupi pil Enrol ollment Ra Rank RPDC RP DC/P Cou ount Grow owth Grow owth Increa ease 12 Linn-Mar $48,737,813 $6,665 7,436.2 $50,060,498 $ 1,322,685 2.71% $ 177.87 123.7 13 Johnston $45,942,949 $6,664 7,074.1 $47,615,767 $ 1,672,818 3.64% $ 236.47 179.9 14 Southeast Polk $45,296,541 $6,664 6,843.1 $46,060,906 $ 764,365 1.69% $ 110.70 45.9 15 Marshalltown $36,443,016 $6,705 5,458.4 $36,964,285 $ 521,268 1.43% $ 94.50 23.2 16 College $33,897,102 $6,664 5,162.7 $34,750,134 $ 853,032 2.52% $ 165.23 76.1 17 Cedar Falls* $34,334,303 $6,671 5,127.5 $34,549,095 $ 343,343 1.00% $ 66.96 (19.3) 18 Muscatine* $34,416,225 $6,664 4,935.8 $34,219,920 $ (196,305) (0.57)% $ (39.77) (148.4) 19 Pleasant Valley $32,255,164 $6,797 4,922.4 $33,787,354 $ 1,532,190 4.75% $ 311.27 176.9 20 Ottumwa* $30,942,285 $6,664 4,612.2 $31,251,708 $ 309,423 1.00% $ 67.09 (31.0) 21 Ames $28,285,752 $6,754 4,299.8 $29,328,936 $ 1,043,936 3.69% $ 242.79 111.8 22 Burlington* $29,673,177 $6,664 4,263.3 $29,767,602 $ 94,425 0.32% $ 22.15 (159.4) * = Indicates budget guarantee for FY19
SIMILAR SIZED SCHOOLS THREE YEAR CUMULATIVE CHANGE CERTIFIED ENROLLMENT 450.0 tudents 390.6 400.0 350.0 Stu 318.0 300.0 238.3 250.0 215.3 200.0 137.3 150.0 118.6 100.0 75.4 41.6 50.0 0.0 -10.7 -50.0 -100.0 -150.0 -200.0 -194.2 -250.0 -234.2 Oct. 2015, 2016 & 2017 certified enrollment count
SIMILAR SIZED SCHOOLS THREE YEAR AVERAGE INCREASE SUPPLEMENTAL STATE AID $1,800,000 $1,651,701 $1,646,666 $1,600,000 $1,400,000 $1,329,457 $1,266,181 $1,200,000 $1,096,320 $1,003,937 $1,000,000 $800,000 $677,142 $537,936 $547,679 $600,000 $400,000 $200,000 $0 -$14,506 -$47,585 -$200,000 Included any budget guarantee funds received
CEDAR FALLS CSD HISTORY OF ASSESSED VALUATION SECTION 6 $2.5 illions Billio $2.0 $1.5 $1.0 $0.5 $0.0 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 TIF $228,952,490 $238,279,052 $69,938,785 $262,029,070 $255,379,885 268,498,450 $155,010,642 $133,875,589 Regular $1,394,788,675 $1,539,679,334 $1,765,749,164 $1,620,002,240 $1,646,442,620 1,705,405,959 $1,881,942,714 $1,952,212,278
TAX INCREMENT FINANCING BASICS Used by cities/counties/community colleges since 1958 City/county adopt urban renewal plans Community Colleges job training projects City/county adopts an ordinance to initiate Tax Increment Financing Establishes a base valuation at the prior years’ taxable valuation level Increased value of TIF area is incremental valuation Revenue on base valuation goes to all taxing authorities Revenue on incremental valuation goes to TIF project with some exceptions
ASSESSED VALUATION PER STUDENT $400,000 $380,000 $360,000 $340,000 $320,000 $300,000 $280,000 $260,000 Fy11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 Cedar Falls State Median Avg
NET ASSESSED VALUATION BY CLASS 0.89% 0.95% 0.77% 0.65% 0.78% 0.73% 100% 3.31% 4.02% 4.28% 90% 21.66% 23.44% 16.84% 21.01% 22.03% 32.64% 80% 1.29% 1.36% 1.35% 1.21% 1.17% 70% 1.21% 60% 50% 77.13% 76.21% 74.27% 73.70% 71.80% 65.27% 40% 30% 20% 2013/14 2014/15 2015/16 2016/17 2017/18 2018/19 Residential Ag land & bldgs Comm./Indust. Multi-residential RR/Utility/Other
2017/18 VALUATION PER STUDENT – AREA SCHOOL COMPARISON $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 Cedar Falls Dike-NH Hudson Janesville Waterloo Waverly-SR State Avg
VALUATION PER STUDENT AREA SCHOOL 3 YR. COMPARISON $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 Cedar Falls Dike-NH Hudson Janesville Waterloo Waverly-SR State Avg FY16 FY17 FY18
2017/18 VALUATION PER STUDENT SIMILAR SIZE SCHOOL COMPARISON $600,000 $550,000 $500,000 $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 Linn-Mar Johnston SE Polk M'town College Cedar Falls Muscatine Pleasant Ottumwa Ames Burlington Valley
VALUATION PER STUDENT SIMILAR SIZE SCHOOL 3 YR. COMPARISON $600,000 $550,000 $500,000 $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 Linn-Mar Johnston SE Polk M'town College Cedar Falls Muscatine Pleasant Ottumwa Ames Burlington Valley FY16 FY17 FY18
2018/19 COMBINED DISTRICT COST – $6,738 PER STUDENT Additional Levy 12.82% $ 864 per Student Combined District Cost – Foundation Dollar Level State Foundation Aid = Foundation Dollar Level – Uniform Levy Foundation dollar cost per pupil as set 62.08% $4,183 per Student by the State of Iowa x Weighted Enrollment - Uniform Levy + SSA Prop Tax Replacement Payment Uniform Levy = 25.10% $1,691 per Student $5.40 per $1,000 assessed valuation x school district assessed valuation
HISTORY OF COST PER PUPIL $7,000 $6,738 $6,671 $6,598 $6,453 $6,500 $6,373 $6,128 $6,008 $6,000 $5,890 $5,500 $5,000 $4,500 $4,000 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19
HISTORICAL COMBINED DISTRICT COST MIX 70% 63.93% 63.37% 63.08% 62.84% 62.82% 62.08% 61.80% 59.35% 60% 50% 40.65% 38.20% 37.92% 37.92% 40% 37.16% 37.18% 36.63% 36.07% 30% 20% 10% 0% FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 Property Tax State Aid
COMBINED DISTRICT COST FUNDING Aid & Levy budget worksheet Uniform Levy (Section 6) Property Tax Portion = $10,413,395 (Ln 6.3 – Ln 5.2) Property Tax Rate = $5.40000 Regular Program Adjustment (101% guarantee) Property Tax Portion = $128,551 (Ln 5.2) Property Tax Rate = $0.06585 Final State Foundation Aid (Section 9) Regular Program = $31,359,887 (Ln 9.12 – Ln 9.11) Includes TSS, PD, TLC, Early Intervention & Property Tax Replacement Payment (PTRP)
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