River Valley School District Budget Hearing Date: Thursday, - - PowerPoint PPT Presentation

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River Valley School District Budget Hearing Date: Thursday, - - PowerPoint PPT Presentation

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River Valley School District Budget Hearing Date: Thursday, October 24, 2013 Time: 7:00 p.m. Location: River Valley High School Little Theater 660 Varsity Blvd. Spring Green, WI 53588 1 2013-2014 Board of Education Name Address Area

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River Valley School District Budget Hearing

Date: Thursday, October 24, 2013 Time: 7:00 p.m. Location: River Valley High School Little Theater 660 Varsity Blvd. Spring Green, WI 53588

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2013-2014 Board of Education

Name Address Area Term Expires Kay Taylor President Lone Rock 5 4/26/2015 Paula Caraway Vice President Arena 1 4/28/2014 Dick Cates Treasurer Spring Green 8 4/26/2015 Deborah Nelson Clerk Arena 2 4/28/2014 Todd Miller Spring Green 6 4/22/2016 Herman Kaldenberg Lone Rock 7 4/26/2015 Don Pulvermacher Lone Rock 4 4/28/2014 Paul Cummings Dodgeville 3 4/22/2016 John Bettinger Plain 9 4/22/2016

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2013-2014 Administration

Name Position Tom Wermuth Superintendent Kim Kaukl High School Principal James Radtke Middle School Principal Jaime Hegland Elementary Schools Director Darby Blakley Assistant Elementary Principal/High School Dean of Students Mati Palm-Leis Jon Novak K-12 Special Education Director Business Manager

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District Initiatives

  • 4K at Plain Elementary
  • RVTV
  • RV eSchool
  • WiFi at Arena, Lone Rock and Plain Elementary

Schools

  • Community engagement meetings
  • Think Tank/Innovations
  • Communications (Part of District PR Committee)
  • Technology (Part of District Technology Committee)
  • Strategic Planning
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Overview of Budget

  • Budget Publication
  • Budget Hearing is a Breakdown of the Budget

Publication

  • Budget Publication
  • Budget Hearing is a Breakdown of the Budget

Publication

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Fund Definitions

  • Fund 10: General Fund
  • Fund 21: Special Projects Fund - Gifts
  • Fund 27: Special Education
  • Fund 39: Debt Service Fund
  • Fund 50: Food Service Fund
  • Fund 80: Community Service Fund
  • All funds are set by Wisconsin Uniform Financial

Accounting Requirements (WUFAR)

  • Funds used to help in budgets and accountability
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Where does the money come from?

  • Revenue Cap Limit
  • 37% State Aid
  • 63% Local Taxes
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2013-2014 State Budget Decisions Revenue Cap

  • 0.714% ($97,180) decrease from 2012-2013.

13,919,161 14,317,722 14,478,55514,520,503 13,692,000 13,607,545 13,510,365 13,000,000 13,200,000 13,400,000 13,600,000 13,800,000 14,000,000 14,200,000 14,400,000 14,600,000 2007-2008 2008-2009 2009-2010 2010-2011 2011-2012 2012-2013 2013-2014

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2013-2014 State Budget Decisions State General Aid

  • State General Aid increased by 1.1% in

2013-2014.

  • RVSD state aid decreased 7% due to

declining enrollment.

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2013-2014 State Budget Decisions State General Aid

  • 2013-2014 budget plan based on state general

aid decrease of $364,622 (6.8%).

General State Aid

$4,997,580 $7,405,113 $7,311,176 $6,281,438 $6,314,310 $5,674,468 $5,362,202 $- $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 $7,000,000 $8,000,000 2007-2008 2008-2009 2009-2010 2010-2011 2011-2012 2012-2013 2013-2014

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Total Funds Tax Levy

2009- 2010 2010- 2011 2011- 2012 2012- 2013 2013- 2014 Total Funds Tax Levy

$9,013,033 $9,000,042 $8,749,914 $9,058,377 $9,325,955

Total Funds Tax Levy Change

15.33%

  • 0.14%
  • 2.78%

3.53% 2.95%

Tax Rate

$10.04 $10.38 $10.23 $10.69 $11.19

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Tax Rate Impact

School Portion Only

Property Value 2010- 2011 2011- 2012 2012- 2013 2013- 2014 Projected Impact

$100,000 $1,038.00 $1,023.00 $1,069.00 $1,119.00 $50.00 $200,000 $2,076.00 $2,046.00 $2,138.00 $2,238.00 $100.00 $300,000 $3,114.00 $3,069.00 $3,207.00 $3,357.00 $150.00 $400,000 $4,152.00 $4,092.00 $4,276.00 $4,476.00 $200.00

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Tax Rate Comparison to Surrounding Districts (2012-2013)

2012-2013 TAX RATES

16.58 12.69 11.69 11.27 10.92 10.69 10.19 9.80 8.70

  • 2.00

4.00 6.00 8.00 10.00 12.00 14.00 16.00 18.00 H i g h l a n d I t h a c a D

  • d

g e v i l l e P l a t t e v i l l e W I H e i g h t s R i v e r V a l l e y R e e d s b u r g S a u k

  • P

r a i r i e R i c h l a n d

Highland Ithaca Dodgeville Platteville WI Heights River Valley Reedsburg Sauk- Prairie Richland Mill Rate 16.58 12.69 11.69 11.27 10.92 10.69 10.19 9.80 8.70

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Definition of Fund Balance

Fund balance represents the fund's total assets minus its liabilities. The fund may have liabilities, such as an accounts payable amount due to a supplier, and it may include receivables, a promise of receipt of future payments.

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District Fund Balance

2010- 2011 2011- 2012 2012- 2013 2013-2014 Projected

Beginning Fund Balance

$4,327,180 $4,596,078 $5,651,609 $5,771,166

Ending Fund Balance

$4,596,078 $5,651,609 $5,771,166 $5,618,447

Fund Balance as % of Total Expenditures

29.6% 37.5% 32.7% 37.6%

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Fund 10 – General Fund Revenue

Audited 2011-2012 Audited 2012-13 Budgeted 2013-2014 Revenues Local Taxes $ 7,980,059 $ 8,261,064 $ 8,683,346 Other Local Revenue $ 108,119 $ 105,517 $ 126,400 WI Inter-District Payments $ 240,119 $ 195,808 $ 269,920 Other Intermediate Sources $ 29,989 $ 22,487 $ 16,000 State Categorical Aid $ 120,411 $ 186,298 $ 217,790 State Equalization Aid $ 5,743,249 $ 5,380,476 $ 4,858,417 Other State Revenue $ 327,795 $ 307,353 $ 266,000 Federal Revenue $ 825,608 $ 367,547 $ 460,746 Other Revenue $ 66,573 $ 55,193 $ 35,000 Total Revenues $ 15,441,922 $ 14,881,743 $ 14,933,619

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Fund 10 – General Fund Revenue

State Equalization Aid 33% Local Taxes 58% Other State Revenue 2% Federal Revenue 3% Other Revenue 0% Other Local Revenue 1% WI Inter-District Payments 2% State Categorical Aid 1% Other Intermediate Sources 0%

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Fund 10 – General Fund Expenses

Audited 2011-2012 Audited 2012-2013 Budgeted 2013-2014 Expenditures Salaries $6,475,979 $6,610,819 $6,733,702 Benefits $3,049,206 $2,994,283 $3,063,015 Purchased Services $2,278,999 $2,435,970 $2,412,430 Non-Capital Objects $405,454 $438,616 $478,295 Capital Objects $228,152 $101,963 $151,010 Insurance & Judgment $125,770 $121,093 $128,500 Transfers $1,781,028 $2,007,291 $2,080,569 Other $41,803 $52,151 $38,817 Total Expenditures $14,386,391 $14,762,186 $15,086,338

  • ‘Transfers’ includes amounts transferred to Fund 27 and Fund 50 to cover deficits.
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Fund 10 – General Fund Expenses

Benefits 20% Salaries 45% Purchased Services 16% Insurance & Judgement 1% Capital Objects 1% Non-Capital Objects 3% Transfers 14% Other 0%

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General Fund Expenditures

  • $15,086,338 in 2013-2013 (Budget)
  • 2.19% increase from 2012-2013
  • 4 Year Prior Comparison
  • $14,762,186 in 2012-2013
  • $14,386,391 in 2011-2012
  • $15,505,995 in 2010-2011
  • $15,399,343 in 2009-2010
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Fund 21 - Special Revenue Trust Fund

  • Purpose is to account for donor gifts for specified

uses.

Audited 2011-2012 Audited 2012-2013 Budgeted 2013-2014 Total Revenues $20,504 $76,319 $33,295 Total Expenditures $21,318 $14,783 $14,645 Revenue-Expense Total $(814) $61,536 $18,650 Beginning Fund Balance $57,496 $56,682 $118,218 Ending Fund Balance $56,682 $118,218 $136,868

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Fund 27 - Special Education

  • Accounts for special education programs and
  • perations.

Revenues Audited 2011-2012 Audited 2012-2013 Budgeted 2013-2014 Operating Transfers-In $1,737,904 $1,964,939 $2,024,062 Intermediate Sources $424 $36,401 $1,000 State Sources $748,457 $778,350 $736,700 Federal Sources $735,155 $501,836 $380,180 Total Revenues $3,221,940 $3,281,526 $3,141,942 Expenses Audited 2011-2012 Audited 2012-2013 Budgeted 2013-2014 Salary and Benefits $2,898,325 $2,871,125 $2,821,171 Other Objects $323,615 $410,401 $320,771 Total Expenses $3,221,940 $3,281,526 $3,141,942

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Fund 39 – Referendum Debt

Fund 39 Referendum Debt Fiscal Year Amount Due 2013-2014 $ 532,000 2014-2015 $ 529,000 2015-2016 $ 530,400 2016-2017 $ 536,000 2017-2018 $ 145,600

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Fund 50 – Food Service

Revenues Audited 2011-2012 Audited 2012-2013 Budgeted 2013-2014 Operating Transfer In $43,124 $42,352 $56,507 Pupil Breakfast $1,313 $1,348 $1,500 Pupil Lunches $334,120 $307,096 $310,000 Pupil a la Carte $15,419 $13,210 $13,000 Adult Lunches $415 $329 $350 Catering $2,136 $3,859 $4,400 Total Food Sales $353,403 $325,842 $329,250 Other Local $191 $124 $0 State Sources (Food Service Aid) $11,094 $10,605 $10,500 Fresh Fruit & Veggie Grant $4,472 $4,990 $5,000 Federal Sources (Food Service Aid) $239,718 $238,034 $237,000 Total Revenues $652,002 $621,947 $638,257 Expenses Salaries and Benefits $314,341 $311,540 $326,107 Other Expenses $337,661 $310,407 $312,150 Total Expenses $652,002 $621,947 $638,257

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Fund 80 – Community Service

The purpose and dollar amount for all planned expenditures from the district's Fund 80 for the 2013-14 fiscal year Middle School community athletics $28,971 RV TV $ 3,200 Eschool Network $ 8,000 Musical $ 6,115 School Fair $ 4,100 Celebration of the Valley $ 1,140 Social worker $13,100 Custodians $22,152 Weight room supervisor $ 1,212 Community garden $ 1,850

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Wisconsin Retirement System (WRS) Unfunded Prior Service Liability

  • Benefit improvement measures that have been applied

retroactively

  • Prior Service Liability is the cost of providing benefits for service

credit earned prior to an employer joining the WRS

  • 1988 unfunded liability was amortized over 40 years to 2028
  • All participating employers were allocated a portion of the

liability

  • In 1988 RVSD’s portion was $758,490.64 @ 8% interest
  • Current balance is $1,700,246.58 @ 7.2% interest
  • Proposal is to borrow $1.7M from the State Trust Fund Loan

Program @ 4.5% for 20 years to pay off the unfunded liability.