School District 2017-2018 Original Budget October 24, 2017 Change - - PowerPoint PPT Presentation

Kettle Moraine School District 2017-2018 Original Budget

October 24, 2017

Change in Revenue Limit

• Revenue Limit lowest since 2004-05

2016-17 $37,992,291 2017-18 $37,566,160 ($ 426,131)

Maximum Revenue Per Member (Revenue Limit)

How does that (Maximum Revenue per Member) equate to dollars available for KMSD to operate with?

• Revenue Limit = Max. Revenue/Member x Membership
• $11,631/Member(Elmbrook(highest)) vs. $9,870 (KMSD)

The ($1,761) difference x 3,627 (KMSD) members = $6.3M Less per

*$5.0M less per year than New Berlin (2nd Highest) year for Operating

• $10,378/Member(County(average)) vs. $9,870 (KMSD)

The ($508) difference x 3,627 (KMSD) members = $1.8M Less per year for Operating Consider the Cumulative effect…

Reasons for change in Revenue Limit;

Declining enrollment (1.8%)

(67) Less FTE for Revenue Limit calculation

Allowed per member $0

Change in Tax Levy

2017-18 Tax Levy $36,127,978 2016-17 Tax Levy $35,539,812 Variance $ 588,166

Reasons for Change in Tax Levy

(15.07%) Decrease in State Aid ($1,031,612) Lowest since 1995-96* (1.12%) Reduction of Revenue Limit ($ 426,131)

• 5,000,000

10,000,000 15,000,000 20,000,000 25,000,000 30,000,000 35,000,000 40,000,000 45,000,000 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18

PROPERTY TAX STATE AID

Kettle Moraine State Aid Property Tax Relationship between Kettle Moraine State Aid and Property Tax

Change in Levy Rate

2017-18 Levy Rate $10.08 2016-17 Levy Rate $10.31 Variance ($ 0.23)

Reasons for Change in Levy Rate

3.9% Increase in Equalized Value

As the district’s property value (denominator) increases and the tax levy (numerator) increases (modestly), the levy rate decreases. Tax Levy

.

Property Value x 1,000 = Levy Rate

Balancing the Budget

• 2017-18 Reduce Committed Fund Balance

by ($1,033,356)

• Currently $3.2 million is Committed in Fund

Balance to support the payment of expiring Post Employment Benefits

• The fund balance remaining will be

approximately 24.0% of general fund expenditures

2017-18 Budget Highlights General Fund

• Retirement related expenditures
• $3.2 million Committed Fund Balance is sufficient to

pay off the district’s post employment liability

• Open Enrollment into KMSD is at a 3 to 1 ratio of

Transfers-In vs. Transfers-Out

• Coding Language (Code to the Future) instruction

implemented in Grades K-6

• Upgrades to Wireless Network Infrastructure to

enhance technology experience (and capture Federal E-rate Funding)

Updates on Remaining Funds

Special Education

• Increasing costs (a number of new high cost

students) & Decreasing funding

Debt Service

• Debt Defeasance (pre-payment) incorporated

Updates on Remaining Funds

Capital Projects Fund

Referendum work complete; remaining balance of funds slated for additional restroom renovations

Food Service Fund

Work done within budget (self-sustaining program)

Community Education Fund

Work done within budget (self-sustaining program)

Cultivating academic excellence, citizenship and personal development