Financ inance Com Commit ittee Analysis & Recommendations - - PowerPoint PPT Presentation

Financ inance Com Commit ittee

Analysis & Recommendations

Board of Education Presentation

January 2020

Agen genda da



Introductions & Committee Work History  Mission & Guiding Principles  Assumptions & Impact  Recommendations

Fin inan ance e Commit mmittee ee M Member embers

IH Par arents/Commu

• mmuni

nity Memb mbers

Pamela Bosley Mary Lou Forte Marci Blachman Nolan Marx Joel Dunahoe Mary McClure Jeff Heinichen Mary Siegel

IH IH Employees ees

Amy Campa Mick Davis

Timel imeline

May ay – Sep Sept 2 t 2019 Educational Meetings Dec c - Jan 20 2020 20 Alignment & Consensus Building Oc Oct – No Nov 2 2019 Research & Analysis

Mis issio sion



Honor the Facilities Assessment Task Force findings



Research bond type, term, and millage



Analyze current and future operational budgets



Research & benchmark operational costs against like schools



Recommend financial action steps to the Board of Education

Guidin uiding P g Prin inciples iples

To optimize financial resources provided by our taxpayers to benefit students, staff, and community members while maintaining the District’s:

 Excellent educational programming  Quality student support services  Low student to teacher ratios  All inclusive bus transportation  Extra-curricular programs

Bond Bond Option She

• n Sheet

Cu Curre rrent nt F Five ve-Year ear Fo Forec ecast ast

Ado dopt pted d by by t the B Board o rd of Educa Education in Novembe mber 2 r 2019

Modif dified F ied Fiv ive-Year ear F Forec ecast ast

As Assu sump mptio ions



No new revenue from state or federal government



Property tax revenue increases will be nominal



Maintenance costs reduced with adoption of facilities bond



Maintain current programming & services



Account for increases in personnel salaries and benefits

Modif dified F ied Fiv ive-Year ear F Forec ecast ast

Distr istrict T Tax ax M Millage illage R Ran ankin ing

23.9 .99

51. 1.41 62. 2.73 73

2. 2.4 Mills Sim Mills Simula latio ion 2. 2.7 7 Mills Sim Mills Simula latio ion 14 140 Day C Cas ash Bal Balan ance

Lev evy H y Homeo meown wner er I Impac mpact

1 Mill = $35/yr. per $100,000 of appraised value 3.5 Mills Facility Bond = $122.50/yr. per $100,000 2.4 Mills Operating Levy= $84/yr. per $100,000

Tot

• tal

al Home

• meowne

ner Imp mpac act = $ $206 206.50 50 per $ $100 100,000 ,000

Recommendatio dations



A combined bond levy ballot issue in November 2020



Approximately 3.5 mill, 30 year term for $82 million



Approximately 2.4 mills on a 5 year term operating levy



Not to exceed 6 mills total

Rationale

 Best option that delivers on our Guiding Principles  Sets up the District for future financial stability  Unanimous conclusion/decision of the committee

Tha hank Y nk You

• u