CEDAR FALLS COMMUNITY SCHOOL DISTRICT 2016/17 Budget Presentation - - PowerPoint PPT Presentation

2016/17 Budget Presentation

CEDAR FALLS COMMUNITY SCHOOL DISTRICT

 Iowa Code Chapter 257.1(2)

• “... each school district in the state is entitled to receive foundation

aid, in an amount pe per pu pupi pil 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.

STATE SCHOOL FOUNDATION PROGRAM - STATE AID

 Aid & Levy Worksheet

• Implements the school foundation aid formula
• Calculates the amount of spending authority, state aid and property

taxes for a school district

• A school district’s spending is limited by it’s maximum spending authority
• Formula first determines the total spending authority
• Primarily enrollment times cost per pupil
• Determines state aid vs. property taxes

GENERAL FUND BUDGET DETERMINATION

BUDGET PREPARATION

 Aid & Levy Worksheet – 21 Sections

• 1. Budget Enrollment
• 2. Cost per Pupil Amounts
• 3. Weighted Enrollment
• Special Education
• Sharing
• At-Risk (Now included as a part of drop-out funding)
• English Second Language (ESL)
• 4. District Cost Calculations
• Regular Program
• Other District Cost Calculations (TSS/PD/Early Childhood/TLC)
• AEA District Cost Calculations
• 5. Combined District Cost (Summary of Section 4)

GENERAL FUND BUDGET DETERMINATION

 Aid & Levy Worksheet Continued

• 6. Uniform Levy
• Basic
• Utility Replacement Adjustment
• Uniform Levy Commercial & Industrial State Replacement Adjustment
• 7. State Foundation Aid
• Regular Program Cost
• Preschool Foundation Aid
• 8. Additional Dollar Levy
• Combined District Cost
• Property Tax Replacement Payment (PTRP)
• Property Tax Equity & Relief (PTER) (57 schools for Fy16 - $30.3 million)
• Final Additional Levy Before Utility Replacement Adjustment
• 9. Final State Foundation Aid Calculation

GENERAL FUND BUDGET DETERMINATION

 Aid & Levy Worksheet Continued

• 10. Instructional Support Levy Calculation
• 11. Educational Improvement Program (CF currently not eligible)
• 12.

Reserved for Future Use

• 13. Additional Levy Adjustment
• Utility Replacement
• C & I State Replacement Adjustment
• 14. Reserved for Future Use
• 15. Summary of General Fund Levies
• 16. State Aid Payments to AEA & District
• 17. Summary of General Fund Budget Spending Authority
• 18. Summary of Financing for General Fund Maximum Budget

GENERAL FUND BUDGET DETERMINATION

 Aid & Levy Worksheet Continued

• 19. Voted Physical Plant & Equipment Levy (PPEL)
• 20.

Income Surtax Rates & General Fund Surtax Dollars

• 21. Other Property & Utility Tax Replacement Taxes
• Management Levy
• Regular Physical Plant & Equipment Levy

GENERAL FUND BUDGET DETERMINATION

4,224.2 4,301.5 4,306.8 4,398.3 4,442.9 4,489.3 4,741.4 4,738.1 4,799.3 4,951.1 67.0 63.8 56.2 53.9 311.8 292.1 121.0 121.0 108.0 101.0

3,800 4,000 4,200 4,400 4,600 4,800 5,000 5,200 Oct-06 Oct-07 Oct-08 Oct-09 Oct-10 Oct-11 Oct-12 Oct-13 Oct-14 Oct-15

Student

CF OE Out

CERTIFIED ENROLLMENT

SECTION 1

5.71% 6.92% 7.65% 7.93% 8.51% 8.08% 7.22% 6.58% 5.89% 5.72% 2.86% 2.93% 2.93% 2.85% 3.11% 2.71% 2.90% 2.88% 3.21% 3.06% 1.43% 1.71% 1.60% 1.60% 1.47% 1.36% 1.31% 1.47% 1.35% 1.57%

0% 2% 4% 6% 8% 10% 12% 14% Fy07 Fy08 Fy09 Fy10 Fy11 Fy12 Fy13 Fy14 Fy15 Fy16 L1 L2 L3

SPECIAL ED ENROLLMENT BY PERCENTAGE

SECTION 3

0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% Fy08 Fy09 Fy10 Fy11 Fy12 Fy13 Fy14 Fy15 Fy16 Fy17 Cedar Falls CF w/o PLS State

HISTORY OF ALLOWABLE GROWTH/SUPPLEMENTAL STATE AID IN PERCENTAGE

State Ran ank Sc School l Dis istric ict 2015/ 5/16 16 RPD RPDC 2015/ 5/16 16 RPD RPDC/P 10/1/ 1/15 15 Count 2016/ 6/17 17 RPD RPDC Dolla llar Growt wth % Growt wth Per r Pupil l Growt wth Enro roll llment In Incre rease 12 Linn-Mar $46,065,104 $6,447 7,197.9 $47,333,390 $1,859,023 2.75% $ 258.27 52.7 13 SE Polk $42,765,342 $6,446 6,801.5 $44,719,863 $ 1,954,521 4.57% $ 287.37 167.1 14 Johnston $42,683,827 $6,446 6,756.1 $44,421,358 $1,767,531 4.14% $ 261.62 139.0 15** Marshalltown $34,932,495 $6,487 5,321.1 $35,281,820 $ 349,325 1.00% $ 65,65 ( 63.9) 16** Muscatine $34,362,675 $6,446 5,170.0 $34,690,335 $ 327,660 0.95% $ 63.37 (158.4) 17 Cedar Falls $31,666,807 $6,453 5,052.1 $33,252,922 $1,586,115 5.01% $ 313.95 144.8 18 College $30,946,601 $6,446 4,947.4 $32,529,155 $1,582,554 5.11% $ 319.88 146.5 19 Ottumwa $29,638,063 $6,446 4,622.9 $30,395.568 $ 757,504 2.56% $ 163.86 25.0 20 Pleasant Valley $28,856,152 $6,579 4,531.8 $30,399,314 $ 1,543,162 5.35% $340.52 145.7 21** Burlington $29,811,119 $6,446 4,457.5 $29,908,402 $ 97,283 0.33% $ 21.82 (136.4) 22 Ames $27,690,211 $6,536 4,181.2 $27,867,698 $ 177,487 0.64% $ 42.43 9.8

“NEW MONEY” COMPARISON WITH SIMILAR SIZED SCHOOLS (ASSUMES 2.0% SSA)

** = Indicated budget guarantee for Fy17

254.9 184.6 347.1

• 67.4
• 174.4

193.0 262.1 45.5 243.2

• 179.0
• 65.4
• 200.0
• 150.0
• 100.0
• 50.0

0.0 50.0 100.0 150.0 200.0 250.0 300.0 350.0 400.0

SIMILAR SIZED SCHOOLS THREE YEAR CUMULATIVE CHANGE CERTIFIED ENROLLMENT

• Oct. 2013, 2014 & 2015 enrollment count

$0 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000

SIMILAR SIZED SCHOOLS THREE YEAR AVERAGE INCREASE SUPPLEMENTAL STATE AID (ASSUMES 2.0%)

Included any budget guarantee funds received

$0.0 $0.2 $0.4 $0.6 $0.8 $1.0 $1.2 $1.4 $1.6 $1.8 $2.0 Fy10 Fy11 Fy12 Fy13 Fy14 Fy15 Fy16 Fy17 Billions Regular TIF

CEDAR FALLS CSD HISTORY OF ASSESSED VALUATION

SECTION 6

 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

TAX INCREMENT FINANCING BASICS

$200,000 $220,000 $240,000 $260,000 $280,000 $300,000 $320,000 $340,000 $360,000 $380,000 $400,000 Fy09 Fy10 Fy11 Fy12 Fy13 Fy14 Fy15 Fy16 Fy17 Cedar Falls State Average

ASSESSED VALUATION PER STUDENT

70.48% 70.23% 65.13% 74.10% 76.05% 76.98% 1.42% 1.33% 1.21% 1.35% 1.36% 1.29% 26.68% 27.15% 32.57% 23.38% 21.61% 16.81% 4.01% 1.42% 1.29% 1.10% 1.17% 0.98% 0.91%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 2011/12 2012/13 2013/14 2014/15 2015/16 2016/17 Residential Ag land & bldgs Comm./Indust. Multi-residential RR/Utility/Other

ASSESSED VALUATION BY CATEGORY

$100,000 $150,000 $200,000 $250,000 $300,000 $350,000 $400,000 Cedar Falls Dike-NH Hudson Janesville Waterloo Waverly-SR State Avg

2015/16 VALUATION PER STUDENT – AREA SCHOOL COMPARISON

$100,000 $150,000 $200,000 $250,000 $300,000 $350,000 $400,000 Cedar Falls Dike-NH Hudson Janesville Waterloo Waverly-SR State Avg

Fy14 Fy15 Fy16

VALUATION PER STUDENT AREA SCHOOL 3 YR. COMPARISON

$100,000 $150,000 $200,000 $250,000 $300,000 $350,000 $400,000 $450,000 $500,000 $550,000

2015/16 VALUATION PER STUDENT – SIMILAR SIZE SCHOOL COMPARISON

$100,000 $150,000 $200,000 $250,000 $300,000 $350,000 $400,000 $450,000 $500,000 $550,000

Fy14 Fy15 Fy16

VALUATION PER STUDENT SIMILAR SIZE SCHOOL 3 YR. COMPARISON

12.90% $ 849 per Student Additional Levy Combined District Cost – Foundation Dollar Level 64.01% $4,213 per Student State Foundation Aid = Foundation Dollar Level – Uniform Levy Foundation dollar cost per pupil as set by the State of Iowa x Weighted Enrollment - Uniform Levy + SSA Prop Tax Replacement Paymt. 23.09% $1,520 per Student Uniform Levy = $5.40 per $1,000 assessed valuation x school district assessed valuation

2016/17 COMBINED DISTRICT COST – $6,582 PER STUDENT (ASSUMES 2.0% SSA)

$5,775 $5,890 $5,890 $6,008 $6,128 $6,373 $6,453 $6,582 $5,200 $5,400 $5,600 $5,800 $6,000 $6,200 $6,400 $6,600 $6,800 FY10 FY11 FY12 FY13 Fy14 Fy15 Fy16 Fy17 (est)

HISTORY OF COST PER PUPIL

37.52% 37.47% 37.16% 38.20% 40.65% 37.92% 36.63% 35.99% 62.48% 62.53% 62.84% 61.80% 59.35% 63.08% 63.37% 64.01%

0% 10% 20% 30% 40% 50% 60% 70% Fy10 Fy11 Fy12 Fy13 Fy14 Fy15 Fy16 Fy17 Property Tax State Aid

HISTORICAL COMBINED DISTRICT COST MIX

(ASSUMES 2.0% SSA INCREASE)

 Aid & Levy budget worksheet determines the

• Uniform Levy (Section 6)
• Property Tax Portion = $9,209,192 (Ln 6.3)
• Property Tax Rate = $5.40000
• Final State Foundation Aid (Section 9)
• Regular Program = $28,995,425 (Ln 9.12 – Ln 9.11)
• Includes TSS, PD, Early Intervention & Property Tax Replacement Payment (PTRP)
• Additional Levy (Section 8 minus Section 13)
• Gross Property Tax Additional Levy (8.4)

$6,446,131

• Utility Replacement Adjustment (8.38)
• 43,366
• AEA Statewide Reduction (8.41)

+ 66,618

• Property Tax Replacement Payment (8.42)
• 413,405
• Add. Levy Utility Replacement Adjust (13.5)
• 1,029
• Add. Levy C & I State Replacement (13.21)
• 135,423
• Dropout Prevention Program (5.17)
• 773,047
• Net Additional Levy

$5,146,479

• Property Tax Rate = $3.01775

COMBINED DISTRICT COST FUNDING

 Aid & levy budget worksheet

• Property Tax Portion = $14,355,671
• Property Tax Rate = $8.41775

 Dropout Prevention (approved by BOE on Feb. 8, 2016)

• Property Tax Portion = $773,047
• Property Tax Rate = $0.45329

 Totals

• Property Tax Portion = $15,128,718
• Property Tax Rate = $8.87104

COMBINED DISTRICT COST FUNDING

$8.85 $9.61 $10.03 $8.62 $10.67 $9.12 $9.18 $0.00 $2.00 $4.00 $6.00 $8.00 $10.00 $12.00 Cedar Falls Dike-NH Hudson Janesville Waterloo Waverly-SR State Avg

2015/16 COMBINED DISTRICT COST – TAX RATE COMPARISON

Includes Drop Out Prevention Funding.

$9.62 $10.57 $9.35 $11.60 $10.33 $8.85 $8.64 $9.62 $9.53 $10.88 $8.06 $8.00 $8.50 $9.00 $9.50 $10.00 $10.50 $11.00 $11.50 $12.00

2015/16 COMBINED DISTRICT COST – SIMILAR SIZE SCHOOL COMPARISON

Includes Drop Out Prevention Funding

$11.19 $11.56 $12.28 $13.21 $14.63 $13.71 $13.90 $14.36 $0.57 $0.57 $0.57 $0.66 $0.66 $0.74 $0.74 $0.77

$0 $2 $4 $6 $8 $10 $12 $14 $16 Fy10 Fy11 Fy12 Fy13 Fy14 Fy15 Fy16 Fy17 Millions CDC Dropout

HISTORY OF COMBINED DISTRICT COST & DROPOUT PROPERTY TAX REVENUE

$8.79961 $8.80455 $8.80728 $8.58129 $8.23849 $8.46427 $8.44032 $8.41775 $0.44951 $0.43527 $0.40703 $0.43082 $0.37572 $0.45951 $0.44868 $0.45329

$0.00 $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 $7.00 $8.00 $9.00 $10.00 Fy10 Fy11 Fy12 Fy13 Fy14 Fy15 Fy16 Fy17 CDC Dropout

HISTORY OF COMBINED DISTRICT COST & DROPOUT PROPERTY TAX RATES

 Included with General Fund for reporting to Dept. of Education  10 year levy approved by voters of District (Fy2022)  10% of regular district program cost (Ln 10.5) $3,325,292  Less gross ISL State Aid (23.63% of total)

• $ 785,766

 Net Property Tax $2,539,526  Instructional Support State Aid + $ 0

• (0% of Gross State Aid)

 Total Adjusted ISL Dollars = $2,539,526  Less anticipated actual ISL State Aid

• $ 0

 Anticipated Actual ISL Dollars = $2,539,526  Property tax rate of $1.28655/$1,000

INSTRUCTIONAL SUPPORT LEVY

SECTION 10

$1.98 $2.03 $2.15 $2.23 $2.37 $2.39 $2.44 $2.54

$1.0 $1.2 $1.4 $1.6 $1.8 $2.0 $2.2 $2.4 $2.6 Fy10 Fy11 Fy12 Fy13 Fy14 Fy15 Fy16 Fy17 Millions

HISTORY OF INSTRUCTIONAL SUPPORT LEVY PROPERTY TAX REVENUE

$1.5537 $1.5497 $1.5390 $1.4508 $1.2924 $1.2678 $1.2854 $1.2866

$0.00 $0.20 $0.40 $0.60 $0.80 $1.00 $1.20 $1.40 $1.60 $1.80 Fy10 Fy11 Fy12 Fy13 Fy14 Fy15 Fy16 Fy17

HISTORY OF INSTRUCTIONAL SUPPORT LEVY PROPERTY TAX RATES

 SBRC #1 Approved Requests

• Increased enrollment, open enrollment out, LEP excess cost
• $934,394 – Increased enrollment, approved by BOE on Nov. 9, 2015
• $ 8,518 – ELL beyond 5 years, approved by BOE on Nov. 9, 2015
• $ 80,675 – LEP allowable excess cost, approved by BOE on Oct. 26, 2015
• Special Education
• $ 675,685 – Special Ed excess cost, approved by BOE on Oct 12, 2015
• Total SBRC #1 approved requests - $1,699,272
• Implement difference between Fy16 & Fy17 over the next two years
• Fy17 total request $1,699,272 minus Fy16 request $514,189 = $1,185,083
• $1,185,083 / 2 = $592,541 + Fy16 $514,189 = $1,106,730
• Total Fy17 SBRC #1 request = $1,106,730
• $592,541 deferred to Fy18

CASH RESERVE LEVY – PART ONE

SECTION 15

 SBRC #2

• Cash flow needs

$ 0

• Other SBRC approved requests

$ 0

• Total request for Fy17

$ 0

CASH RESERVE LEVY – PART TWO

SECTION 15

 SBRC #1 Approved/Requested $1,106,730  SBRC #2 Request $ 0  Total Cash Reserve Levy $1,106,730

• $592,540 deferred until Fy18

 Property Tax Rate of $0.64895

CASH RESERVE LEVY – SUMMARY

SECTION 15

$4,000,000 $5,000,000 $6,000,000 $7,000,000 $8,000,000 $9,000,000 $10,000,000 $11,000,000 $12,000,000 $13,000,000 6/30/15 6/30/16 6/30/17 6/30/18 6/30/19 6/30/20 Full Amt Fy17

• Prop. Amt Fy17

Delay 1 Yr Do not fund

JUNE 30TH CASH BALANCE PROJECTIONS

Projections assume full funding of all future year SBRC allowable growth requests.

• $1,000,000

$0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 8/31/15 8/31/16 8/31/17 8/31/18 8/31/19 8/31/20 Full Amt Fy17

• Prop. Amt Fy17

Delay 1 Yr Do not fund

AUGUST 31ST CASH BALANCE PROJECTIONS

Projections assume full funding of all future year SBRC allowable growth requests.

0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 06/30/15 06/30/16 06/30/17 06/30/18 06/30/19 06/30/20 Full Amt Fy17

• Prop. Amt Fy17

Delay 1 Yr Do not fund

PROJECTED SOLVENCY RATIO’S

Projections assume full funding of all future year SBRC allowable growth requests.

District Goal

$0.0 $0.2 $0.4 $0.6 $0.8 $1.0 $1.2 $1.4 $1.6 $1.8 $2.0 Actual Fy16 Fy17 Fy18 Fy19 Fy20 Fy21 Fy22 Fy23 Fy24 Fy28 Fy26 Millions Enrollment Special Ed ELL/LEP 1 Yr Deferred

FUTURE PROJECTED SBRC REQUESTS

Projections based on RSP & Associates student enrollment growth, $675,685 annual special education program & $89,193 annual ELL/LEP program deficits.

$0.00 $0.20 $0.40 $0.60 $0.80 $1.00 $1.20 Actual Fy16 Fy17 Fy18 Fy19 Fy20 Fy21 Fy22 Fy23 Fy24 Fy28 Fy26 Enrollment Special Ed ELL/LEP 1 Yr. Deferred

FUTURE PROJECTED SBRC REQUESTS - TAX RATE

Projections based on RSP & Associates student enrollment growth, $675,685 annual special education program deficit, $89,193 annual ELL/LEP program deficit & 3.0% annual assessed valuation increase.

$0.0 $0.2 $0.4 $0.6 $0.8 $1.0 $1.2 $1.4 $1.6 $1.8 $2.0 Fy10 Fy11 Fy12 Fy13 Fy14 Fy15 Fy16 Fy17 Fy18 (Est) Millions SBRC #1 SBRC #2

HISTORY OF SBRC CASH RESERVE LEVY – TAX REVENUE

$0.1367 $0.4665 $0.2757 $0.7459 $0.9935 $0.4870 $0.1908 $0.6490 $0.6678 $0.6508 $0.6701 $0.6251 $0.1416 $0.0000 $0.1235 $0.1215 $0.0000 $0.3373

$0.00 $0.20 $0.40 $0.60 $0.80 $1.00 $1.20 Fy10 Fy11 Fy12 Fy13 Fy14 Fy15 Fy16 Fy17 Fy18 (est) SBRC #1 SBRC #2

HISTORY OF CASH RESERVE LEVY TAX RATES

 Total General Fund Request

Dollars

Tax Rate

• Comb. District Cost

$14,355,671 8.41775

• Dropout

$ 773,047 0.45329

• Instructional Support

$ 2,539,526 1.28655

• Cash Reserve Levy

$ 1,106,730 0.64895

• Totals

$ 18,774,974 10.80654

GENERAL FUND SUMMARY

SECTION 15

$14.73 $15.65 $16.25 $17.48 $19.42 $17.83 $17.59 $18.77

$8 $10 $12 $14 $16 $18 $20 Fy10 Fy11 Fy12 Fy13 Fy14 Fy15 Fy16 Fy17 Millions

HISTORY OF OPERATING FUND PROPERTY TAX REVENUE

$11.59 $11.92 $11.65 $11.35 $10.95 $10.80 $10.49 $10.81

$10.00 $10.20 $10.40 $10.60 $10.80 $11.00 $11.20 $11.40 $11.60 $11.80 $12.00 Fy10 Fy11 Fy12 Fy13 Fy14 Fy15 Fy16 Fy17

HISTORY OF OPERATING FUND PROPERTY TAX RATES

 Beginning in Fy2015, commercial & industrial property valuations are being reduced through rollback. Rollback will be 95% in Fy2015 and 90% beginning in Fy2016. The state is reimbursing local governments and school districts for the loss of property tax receipts.

COMMERCIAL & INDUSTRIAL (C & I) STATE REPLACEMENT ESTIMATE

 C & I Non-TIF 100% valuation $319,124,953  C & I Non-TIF taxable valuation

• $287,212,458

 Est. Non-TIF valuation reduction (GF/Mgt. Fund) $31,912,495  C & I TIF 100% valuation $276,005,500  C & I TIF taxable valuation

• $248,404,950

 Est. TIF valuation reduction $27,600,550  Est. combined valuation reduction (Debt/PPEL/ISL) $59,513,045  Est. General Fund C & I replacement

• ($31,912,495 / 1,000) * 9.51999 (tax rate)

$303,807

 Est. Inst. Support Levy C & I replacement

• ($27,600,550 / 1,000) * 1.28655 (tax rate)

$ 76,567

CFCSD COMMERCIAL & INDUSTRIAL (C & I) STATE REPLACEMENT ESTIMATE

$750,932 $40,989 $30,000 $40,975 $40,000 $490,359 $2,206,926 $0 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000

• Misc. Other

Pools Facilities Rentals Interest Sp Ed Tuition OE Tuition

GENERAL FUND – PROJECTED OTHER LOCAL REVENUE

$235,714 $0 $380,374 $2,439,055 $1,681,750 $424,088 $3,471,146 $23,085,224 $0 $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000

• Misc. Other

ISL C&I Repl. AEA Flow Thru State - TLC State - PreSch State - Tchr State - CDC

GENERAL FUND – PROJECTED STATE REVENUE

$34,135 $0 $30,000 $38,950 $900,000 $115,774 $229,612 $145,341 $430,000 $- $200,000 $400,000 $600,000 $800,000 $1,000,000

• Misc. Other

PEP Grant Perkins TAP Medicaid Head Start Part B Title IIA Title I

GENERAL FUND – PROJECTED FEDERAL REVENUE

Federal, $1,923,812, 3.45% Local, $22,193,206, 39.75% State, $31,717,351, 56.81%

TOTAL 2016/17 GENERAL FUND REVENUE

(ASSUMES 2.0% SSA INCREASE)

Due to rounding, percentages may not equal 100.00%

 Restricted fund

• Board of Education Controlled
• Used for property/liability/auto/workman compensation/etc.

insurance premiums

• Property loss not covered by deductibles
• Early severance benefits

 Amount requested for 2016/17

• $500,000
• Property tax rate of $0.29319/$1,000

 Est. General Fund C & I replacement

• ($31,912,495 / 1,000) * 0.29319 (tax rate) = $9,356

MANAGEMENT FUND

$600 $735 $650 $550 $450 $500 $530 $500

$0 $100 $200 $300 $400 $500 $600 $700 $800 Fy10 Fy11 Fy12 Fy13 Fy14 Fy15 Fy16 Fy17 Thou housands

HISTORY OF MANAGEMENT FUND PROPERTY TAX REVENUE

$0.47198 $0.55987 $0.46602 $0.35722 $0.25485 $0.30864 $0.32191 $0.29319

$0.00 $0.10 $0.20 $0.30 $0.40 $0.50 $0.60 Fy10 Fy11 Fy12 Fy13 Fy14 Fy15 Fy16 Fy17

Per T Thou housand

HISTORY OF MANAGEMENT FUND PROPERTY TAX RATES

 2 Parts

• Board of Education Controlled – up to $0.33/$1,000 (regular)
• Voters approved additional $1.34/$1,000 levy for 10 years beginning

with the 2008/09 school year (voted)

• Can be used for:
• Purchase or improvement of grounds
• Construction, repairing or remodeling of schoolhouses or roads to

schoolhouses including debt for same

• Purchase or lease of equipment greater that $500 per unit
• Purchasing of “bundled” technology greater than $500
• Purchase or lease of school buses or other vehicles
• Leasing or renting of facilities

PHYSICAL PLANT & EQUIPMENT LEVY (PPEL)

 PPEL Fund

• Amount requested for 2016/17
• $651,388 (regular) & $2,645,032 (voted) = $3,296,420
• Property tax rate of $1.67/$1,000
• Est. Inst. Support Levy C & I replacement
• ($59,513,045 / 1,000) * 1.67 (tax rate) = $99,386

PHYSICAL PLANT & EQUIPMENT LEVY (PPEL)

$0.46 $0.49 $0.51 $0.54 $0.59 $0.61 $0.62 $0.63 $0.65 $1.87 $1.98 $2.08 $2.18 $2.38 $2.46 $2.52 $2.55 $2.65

$0.0 $0.5 $1.0 $1.5 $2.0 $2.5 $3.0 $3.5 Fy09 Fy10 Fy11 Fy12 Fy13 Fy14 Fy15 Fy16 Fy17 Millions Regular Voted

HISTORY OF PHYSICAL PLANT & EQUIPMENT LEVY (PPEL) PROPERTY TAX REVENUE

$0.33 $0.33 $0.33 $0.33 $0.33 $0.33 $0.33 $0.33 $1.34 $1.34 $1.34 $1.34 $1.34 $1.34 $1.34 $1.34

$0.00 $0.20 $0.40 $0.60 $0.80 $1.00 $1.20 $1.40 $1.60 $1.80 Fy10 Fy11 Fy12 Fy13 Fy14 Fy15 Fy16 Fy17 Regular Voted

HISTORY OF PHYSICAL PLANT & EQUIPMENT LEVY (PPEL) PROPERTY TAX RATES

 Comb. Dist. Cost $15,128,718  Cash Res. Levy - SBRC $ 1,106,730  Cash Res. Levy - Other $ 0  Sub-Total – General Fund $16,235,448 $ 9.51999  Instructional Support Levy $ 2,539,526 $ 1.28655  Management Fund $ 500,000 $ 0.29319  Voted PPEL Levy $ 2,645,032 $ 1.34000  Regular PPEL Levy $ 651,388 $ 0.33000  Total $22,571,394 $12.76973

SUMMARY

(ASSUMING 2.0% SSA)

$13.73 $14.15 $13.79 $13.38 $12.83 $12.78 $12.44 $12.77

$8 $9 $10 $11 $12 $13 $14 $15 Fy10 Fy11 Fy12 Fy13 Fy14 Fy15 Fy16 Fy17

TOTAL PROPERTY TAX RATE HISTORY

Dropout Prevention 3.42% Instructional Support 11.25% Cash Reserve Levy 4.90% Management Fund 2.22% PPEL - Regular 2.89% PPEL - Voted 11.72% Combined District Cost 63.60%

2016/17 PROPERTY TAX BREAKDOWN

(ASSUMING 2.0% SSA)

Due to rounding, percentages may not equal 100.00%

Voted PPEL &

• Inst. Sup.

22.97% DRP, CR, Mgt,

• Reg. PPEL

13.43% Combined District Cost 63.60%

2016/17 PROPERTY TAX BREAKDOWN

(ASSUMING 2.0% SSA)

Due to rounding, percentages may not equal 100.00%

0% 10% 20% 30% 40% 50% 60% 70% CDC Dropout Inst Sup Cash Res Mgt R PPEL V PPEL 2013/14 2014/15 2015/16 2016/17

TAX LEVY HISTORY BY PERCENTAGE

$7.00 $8.00 $9.00 $10.00 $11.00 $12.00 $13.00 $14.00 2015/16 2016/17 Per T Thou housand V PPEL R PPEL Mgt Cash Res ISL Dropout CDC  2015/16 $12.44447/$1,000  2016/17 $12.76973/$1,000  Change +$ 0.32526/$1,000

PROPERTY TAX RATE COMPARISON

$8 $10 $12 $14 $16 $18 $20 $22 $24 2015/16 2016/17 Milli llions V PPEL R PPEL Mgt Cash Res ISL Dropout CDC  2015/16 $21,243,908  2016/17 $22,571,394  Change +$ 1,327,486

PROPERTY TAX REVENUE COMPARISON

$96,590 $23,787

• $30,006

$592,541 $94,524 $34,315 $515,735

• $600,000
• $100,000

$400,000 $900,000 V PPEL R PPEL Mgt Cash Res ISL Dropout CDC

2015/16 PROPERTY TAX REVENUE CHANGE

0% SSA 2. 2.0% 0% SSA 2. 2.45% 45% S SSA 3. 3.0% 0% SSA

• Comb. Dist.

Cost $14,334,739 $14,355,671 $14,359,807 $14,360,578 Dropout Prevention $ 773,047 $ 773,047 $ 773,047 $ 773,047 CR Levy – SBRC $ 1,106,730 $ 1,106,730 $ 1,106,730 $ 1,106,730 CR Levy – Other $ 0 $ 0 $ 0 $ 0

• Inst. Support

Levy $ 2,489,754 $ 2,539,526 $ 2,550,714 $ 2,564,219 Management Fund $ 500,000 $ 500,000 $ 500,000 $ 500,000 Voted PPEL $ 2,645,032 $ 2,645,032 $ 2,645,032 $ 2,645,032 Regular PPEL $ 651,388 $ 651,388 $ 651,388 $ 651,388 Total $ 22,500,690 $22,571,394 $22,586,718 $22,600,994

SSA SCENARIOS PROPERTY TAX PORTION (ONLY)

0% SSA 2. 2.0% 0% SSA 2. 2.45% 45% S SSA 3.0% S SSA

• Comb. Dist.

Cost $ 8.40548 $ 8.41775 $ 8.42018 $ 8.42063 Dropout Prevention $ 0.45329 $ 0.45329 $ 0.45329 $ 0.45329 CR Levy – SBRC $ 0.64895 $ 0.64895 $ 0.64895 $ 0.64895 CR Levy – Other $ 0.00000 $ 0.00000 $ 0.00000 $ 0.00000

• Inst. Support

Levy $ 1.26133 $ 1.28655 $ 1.29222 $ 1.29906 Management Fund $ 0.29319 $ 0.29319 $ 0.29319 $ 0.29319 Voted PPEL $ 1.34000 $ 1.34000 $ 1.34000 $ 1.34000 Regular PPEL $ 0.33000 $ 0.33000 $ 0.33000 $ 0.33000 Total $12.73224 $12.76973 $12.77783 $12.78512

SSA SCENARIOS PROPERTY TAX RATE

 Iowa Code 441.21

• Adjustments in value to comply with state law that allows no more than

a 4% increase in taxable value from year to year for all classes of property, except utility property which has a maximum increase of 8% per year.

• Rate adjustment determined by Iowa Department of Revenue.
• Rate adjustment is the same for all counties in Iowa.

ASSESSMENT & VALUATION OF PROPERTY ASSESSMENT LIMITATIONS ORDER (ROLLBACK)

40% 42% 44% 46% 48% 50% 52% 54% 56% 58%

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

RESIDENTIAL ROLLBACK HISTORY

Assessment Yr.

Fiscal Yr. F2008 F2009 F2010 F2011 F2012 F2013 F2014 F2015 F2016 F2017

• 2015/16

2016/17  Prop. Value $100,000 $100,000  Rollback x 0.557335 0.556259  Tax Rate x 0.01244447 0.01276973  Gross Tax = $ 693.57 $ 710.33  Est. Homestead - $ 62.00 $ 62.00  Net Tax = $ 631.57 $ 648.33  Change $ 16.76

PROJECTED RESIDENTIAL PROPERTY TAX

 March 21, 2016 – Establish Proposed Budget  March 25, 2016 – Publish Proposed Budget  April 11, 2016 – Public Hearing & Adoption of Budget  April 15, 2016 – File Budget with County Auditor

2016/17 BUDGET TIMELINES

 Iowa Code Section 24.9

• Budget estimates adopted and certified in accordance with this

chapter may be amended and increased as the need arises ...... to permit appropriation and expenditure during the fiscal year covered by the budget of amounts of cash anticipated to be available during the year fr from sou

• urces ot
• ther t

tha han t taxation and which had not been estimated and appropriated for expenditure during the fiscal year of the budget sought to be amended.

 Iowa Code Section 257.7(2)

• If actual miscellaneous income for a budget year exceeds the

anticipated miscellaneous income in the certified budget for that year …… a school district may amend its certified budget.

2015/16 SCHOOL BUDGET AMENDMENT

 Amendment to 2015-16 Budget

• Instruction
• Amend expenditures from $37,174,144 to $37,612,154
• Staffing & equipment costs due to increased enrollment
• Total Support Services
• No Change
• Non-instructional Programs
• No Change
• Other Expenditures
• No Change

 Public hearing required

2015/16 SCHOOL BUDGET AMENDMENT NOT DONE

 March 21, 2016 – Establish Proposed Budget Amendment  March 25, 2016 – Publish Proposed Budget Amendment  April 11, 2016 – Public Hearing & Adoption of Budget Amendment  April 15, 2016 – File Budget Amendment with County Auditor

2015/16 BUDGET AMENDMENT TIMELINES

QUESTIONS?