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 – 2 nd half of 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

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