Presented by Brian Lueders Business Manager Brookings School - - PowerPoint PPT Presentation

Presented by Brian Lueders Business Manager Brookings School District August 15, 2016

Brookings Schools

Brookings Schools

General Fund

2014-15 Ending Fund Balance: $4,628,887-24.5%

• Est. 2015-16 Ending Fund Balance $4,194,000 –

20.75%  Budget: $22,609,215

 Includes:

○ Use of Fund Balance $768,005 ○ $1,756,090 of new money – ½ penny ○ Growth of 50 students ○ Estimated increases for staff, insurance,

utilities, etc.

○ New Positions ○ $300,000 transfer in from Capital Outlay

Brookings Schools

Brookings Schools

Brookings Schools

Brookings Schools

General Fund Levies

 2016 taxes payable 2017

 Ag

$1.568 per thousand

 OO

$3.687 per thousand

 Other $7.630 per thousand  Opt Out $750,000

 2015 taxes payable 2016

 Ag

$1.568 per thousand

 OO

$4.075 per thousand

 Other $8.727 per thousand  Opt Out $750,000

Brookings Schools

Capital Outlay

2014-15 Ending Fund Balance: $1,244,921 – 24%

• Est. 2015-16 Ending Fund Balance $1,633,549 –37%

 Budget: $4,698,835

 Includes:

○ Estimated change in revenue for 3% or

inflation whatever is less for growth in reappraisals.

○ Federal reimbursement of $118,500 to cover

interest costs for BHS Phase II addition - Qualified School Construction Bonds.

○ Ad Team recommended 2016-17 summer

projects and equipment purchases.

○ $300,000 transfer to General Fund. ○ $150,000 for Facilities Study.

Brookings Schools

Capital Outlay Levy

 2016 taxes payable 2017

 $4,880,000

 2015 taxes payable 2016

 $3.00 per thousand

Brookings Schools

Special Education

2014-15 Ending Fund Balance: $88,175 – 2.12%

• Est. 2015-16 Ending Fund Balance $58,070 –1.3%

 Budget: $4,958,995

 Includes:

○ Increase of $800,000 in state aid increases

due to reallocation of the funding formula and 3% increase.

○ Use of fund balance $235,220. The district

may have to apply for extra ordinary cost fund.

○ Estimated increases for staff, insurance,

placements, etc.

○ New positions based upon student need.

Brookings Schools

Special Education Levy

 2016 taxes payable 2017

 $1.505 per thousand

 2015 taxes payable 2016

 $1.409 per thousand

Brookings Schools

Pension Fund

2014-15 Ending Fund Balance: $725,768

• Est. 2015-16 Ending Fund Balance $653,456

 Budget: $441,950

 Includes:

○ Use of fund balance $214,350 ○ Revenue of approximately $221,000 – 2nd half

• f taxes 2015 payable 2016. This will be the

last tax payment received by the district due to change in state funding formula.

○ Transfer $200,000 SDRS expenses from

General Fund and Special Education.

○ Pension Fund will not exist after – 2020.

Brookings Schools

Bond Redemption

 Fund 31 (Dakota Prairie)

 14-15 Fund Balance $342,915  Est. 15-16 Fund Balance $157,736

○ Budget – $1,088,000 ○ 15 taxes levy $.724 – 16 taxes est. levy $.70

 Fund 32 (Camelot)

 14-15 Fund Balance $4,674,510  Est. 15-16 Fund Balance $4,620,746

○ Budget $614,600 ○ 15 taxes levy $.325 – 16 taxes est. levy $.333

Brookings Schools

Other Funds

 Food Service

 Budget $1,749,200

○ Includes increases in: meal prices, staff/benefits and

food costs.  Enterprise Fund

 Budget $100,440

○ Includes estimated increased cost in staff/benefits.

 Self Insurance Fund

 Budget 4,760,000

○ Includes insurance increase.

Brookings Schools

Questions

Brookings Schools