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 IH Employees ees IH Par arents/Commu ommuni nity Memb mbers Amy Campa Pamela Bosley Mary Lou Forte Mick Davis Marci Blachman Nolan Marx Joel Dunahoe Mary McClure Jeff Heinichen Mary Siegel

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

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 on 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 62. 2.73 73 51. 1.41

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 otal al Home omeowne 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 ou