REDMOND SCHOOL DISTRICT 2019-2020 Proposed Budget Looking Through - - PowerPoint PPT Presentation

REDMOND SCHOOL DISTRICT

2019-2020 Proposed Budget

MAKING SUCCESS POSSIBLE FOR EVERY STUDENT

“Looking Through the Lights” by Skyler Abbas, Ridgeview High School

RSD Strategic Priorities

2019-20 Proposed Budget Overview

Fund Description 19-20 Budget % of Total

100 General Fund $86,019,700 73.6% 200 Special Revenue Funds $12,245,300 10.5% 300 Debt Service $17,281,500 14.8% 400 Capital Projects $ 67,400 0.1% 600 Internal Service Fund $ 987,200 0.8% 700 Trust & Agency $ 267,600 0.2%

Total Budget $116,868,700

100.0%

2019-20 Proposed Budget – All Funds –

$116,868,700

2019-20 Proposed Budget – Grant Funds –

$5,103,200

2019-20 Proposed Budget – Debt Service –

$17,281,500

2019-20 Proposed Budget –

District Tax Rate

Rate/$1,000 TAV

Redmond School District –

Outstanding General Obligation Bonds

Issue Purpose Date of Issue Date of Maturity Amount Issued Amount Outstanding as of 6/30/19 Series 2004A* New school construction and renovation and refunding of FFCO 06/15/04 06/15/21 $18,110,000 $330,000 Series 2004B New school construction and renovation and refunding of FFCO 06/16/04 06/15/24 $18,487,977 $7,092,083 Series 2008A* New school construction and renovation 12/23/08 06/15/16 $72,530,000

• Series 2008B

New school construction and renovation 12/23/08 06/15/31 $37,467,881 $28,398,448 Series 2012 Advance refunding of Series 2004A bonds 06/28/12 06/15/21 $3,650,000 $3,650,000 Series 2013 Advance refunding of Series 2008A bonds 01/29/13 06/15/34 $62,905,000 $59,945,000 Total General Obligation Bonds * Refunded $99,415,531

2019-20 Proposed Budget –

Bond Rate & Taxable Assessed Value (TAV)

Bond Rate/$1,000 TAV

2019-20 Proposed Budget –

Contingency & Unappropriated Reserves $8,526,300 – 8.1% of Revenues

2019-2021 Education Funding –

Legislative Update

HB 3427 – Student Success Act

Student Success Fund

20%

Early Learning Account

50%

Student Investment Account

30%

Statewide Initiative Account Biennial Appropriations or Transfers to the State School Fund

New Tax Revenue

HB 3427 – Student Success Act

• Fully fund EI/ECSE
• Expand OPK, Head Start, Preschool Promise
• Culturally specific early learning, relief nurseries

Early Learning Account $190 Million

• Additional instructional time
• Student health & safety, incl. social &

emotional

• Reducing Class Sizes
• Well rounded education program

Student Investment Account

$475 Million

• Fully fund Measure 98
• Fund universal school meals
• Double High Cost Disability Grant

Statewide Initiative Account $285 Million

PERS – Legislative Update

PERS – Legislative Update

Governor’s Plan “Everyone Sacrifices Something”

• School District Offset

Account

• Limit the personal

kicker rebate

• SAIF capital surplus
• Redirect $1.6 B in

revenues – extend to 15 years

• Tier I/II – Contribute

3% to System

• OPSRP – Contribute

1.5% to System Technical Fixes “Kick the Can”

• Lengthening the

amortization period

• Freeze employer’s

PERS contribution rates at 25%

• Place conditions or

limits on lowering assumed rate of return Business Community Ballot Measures “Negotiating Leverage”

• 401(k)-style option for

new hires

• All employees

contribute toward

• benefits. Proposals

are different but range is 2.8% to 6% of salary.

RSD 2019-20 Budget – Next Steps

• Proposed Budget and Tax

Rate Levies Approval

• Budget Adoption

School Board Meeting Redmond School District Office Wed, June 26, 2019 5:30pm

“Golden Hour” by Genevieve Burke, Redmond High School