Swallow School District 2018-19 BUDGET HEARING August 22, 2018 - - PowerPoint PPT Presentation

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Swallow School District 2018-19 BUDGET HEARING August 22, 2018 - - PowerPoint PPT Presentation

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Swallow School District 2018-19 BUDGET HEARING August 22, 2018 Budget Development Timeline December 2017 through May 2018 Revenue estimates are developed based on projected enrollment and state budget Expenditure estimates are developed

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SLIDE 1

Swallow School District

2018-19 BUDGET HEARING August 22, 2018

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SLIDE 2

Budget Development Timeline

December 2017 through May 2018

  • Revenue estimates are developed based on projected enrollment and state budget
  • Expenditure estimates are developed based on staffing, programming, and available revenue

June

  • Preliminary budget presented to the School Board

July

  • Preliminary budget approved by the School Board

August

  • Budget published
  • Annual Meeting & Budget Hearing

September and October

  • Adjustments made based on September enrollment counts and property valuation

Late October/Early November

  • October 15 – State Equalization Aid certified by Wisconsin DPI
  • October 29 – School Board final certification of the tax levy and budget
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SLIDE 3

Factors Affecting 2018-19 Budget

Enrollment

  • Largest factor in school finance
  • Resident enrollment is declining

Changing Student Needs

  • Moving from three sections to two
  • Special education
  • Open enrollment
  • New math and science curriculum implementation

Maintenance Needs

  • Major expenses for long range maintenance needs
  • Aging building – 1890s/1950s wing especially

Price increases

  • Inflation has recently accelerated
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SLIDE 4

Revenue Formulas

Total Revenue Limit - State Equalization Aid = Local Property Taxes

  • When aid goes up, property taxes drop
  • When aid goes down, property taxes go up
  • Revenue Limit and Equalization Aid each have their own complex formulas

Revenue Limit State Aid Property Tax Levy

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SLIDE 5

100 200 300 400 500 600 700 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19

Total Enrollment

Resident Open Enrollment

Membership & Enrollment

2018-19 enrollment is an estimate

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SLIDE 6

100 200 300 400 500 600 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19

Revenue Limit Membership

Membership & Enrollment

2018-19 membership is an estimate

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SLIDE 7

$0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 $7,000,000 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19

Total Revenue Limit

Tax Levy Equalization Aid

Total Revenue Limit

2018-19 Revenue Limit is an estimate

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SLIDE 8

State Equalization Aid

2018-19 aid amounts are estimated

200 400 600 800 1,000 1,200 1,400 $0 $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 $1,400,000 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19

Equalization Aid and Membership

Equalization Aid Per Pupil Aid Aid Membership

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SLIDE 9

Property Taxes

2018-19 Levy is an estimate

$0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 Tax Levy Under Revenue Limit

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SLIDE 10

District Equalized Value

2018-19 Equalized Value is an estimate

$680 $700 $720 $740 $760 $780 $800 $820 $840 $860 $880 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 Millions

Equalized Value

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SLIDE 11

Local Property Tax Levy 2017-18 Actual 2018-19 Proposed % Change Fund 10 – General Fund $4,680,663 $4,584,247 Fund 39 – Debt Service 625,000 607,300 Fund 41 – Capital Expansion 250,000 225,000 Total Taxes $5,555,663 $5,416,547

  • 2.50%

Mill Rate (Tax Rate per $1,000) $6.71 $6.38

  • 4.92%

Equalized Value 827,747,651 848,441,342 2.50%

Tax Levy Calculation

2018-19 amounts are estimates dependent upon enrollment, state aid, and equalized value certifications

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SLIDE 12

Mill Rate (Tax Rate per $1,000)

2018-19 Mill Rate is an estimate

$7.25 $7.19 $7.18 $7.18 $6.71 $6.38 $6.30 $6.50 $6.70 $6.90 $7.10 $7.30 $7.50 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19

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Revenue Sources: Fund 10

$4,717,547 $681,403 $550,580 $54,099

Taxes and Local Sources 79% State Sources 11% Open Enrollment Revenue 9% Federal and Other Sources 1%

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Annual Fund 10 Expenditures

$0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 $7,000,000 2014-15 2015-16 2016-17 2017-18 2018-19

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Budgeted Expenditures by Function - Fund 10

$3,252,440 $1,088,430 $506,855 $484,485 $421,721 $277,500 $222,500

Instruction - 52% Business Admin. & Central Services - 17% Pupil & Instructional Services - 8% General & Building Administration - 8% Special Education Transfer - 7% Instructional Service Payments - 4% Insurance, Technology, & Other - 4%

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Budgeted Expenditures by Object - Fund 10

$2,934,820 $1,228,995 $1,101,495 $421,721 $411,345 $81,055 $74,500

Salaries - 47% Purchased Services - 20% Benefits - 17% Special Education Transfer - 7% Non-Capital Objects - 7% Insurance and Other - 1% Capital Objects - 1%

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SLIDE 17

SPECIAL PROJECTS FUND – Fund 21 & 27 Audited 2016-2017 Unaudited 2017-2018 Budget 2018-2019 Beginning Fund Balance 14,752.30 102,742.50 58,288.81 Ending Fund Balance 102,742.50 58,288.81 48,288.81 REVENUES & OTHER FINANCING SOURCES 632,959.14 623,417.92 684,808.00 EXPENDITURES & OTHER FINANCING USES 544,968.94 667,871.61 694,808.00 DEBT SERVICE FUND – Fund 39 Audited 2016-2017 Unaudited 2017-2018 Budget 2018-2019 Beginning Fund Balance 105,630.41 20,033.97 14,592.17 Ending Fund Balance 20,033.97 14,592.17 14,592.17 REVENUES & OTHER FINANCING SOURCES 626,660.74 625,101.52 607,300.00 EXPENDITURES & OTHER FINANCING USES 712,257.18 630,543.32 607,300.00 CAPITAL PROJECTS FUND – Fund 41 & 46 Audited 2016-2017 Unaudited 2017-2018 Budget 2018-2019 Beginning Fund Balance 334,406.71 396,372.40 652,258.45 Ending Fund Balance 396,372.40 652,258.45 877,758.45 REVENUES & OTHER FINANCING SOURCES 61,965.69 255,886.05 225,500.00 EXPENDITURES & OTHER FINANCING USES 0.00 0.00 0.00 FOOD SERVICE FUND – Fund 50 Audited 2016-2017 Unaudited 2017-2018 Budget 2018-2019 Beginning Fund Balance 72,936.46 68,108.85 84,479.01 Ending Fund Balance 68,108.85 84,479.01 70,829.01 REVENUES & OTHER FINANCING SOURCES 160,236.19 144,744.56 145,000.00 EXPENDITURES & OTHER FINANCING USES 165,063.80 128,374.40 158,650.00

Other Funds

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SLIDE 18

Fund Balance – General Fund

2016-17 Audited 2017-18 Unaudited 2018-19 Budget Committed Fund Balance – Retirement 39,000 38,000 38,000 Assigned Fund Balance – Technology 250,000 250,000 250,000 Assigned Fund Balance – Facilities 450,000 450,000 450,000 Unassigned Fund Balance 3,967,834 4,322,182 4,071,880 Total Fund Balance 4,706,834 5,060,182 4,809,880

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SLIDE 19

2018-19 Budget Variables Yet-To-Be Certified

Actual September Membership Count

  • Occurs on third Friday of September

Actual Apportionment of Equalized Value

  • WI Dept. of Revenue certifies on October 1

Actual Apportionment of State Equalization Aid

  • WI Dept. of Public Instruction certifies on October 15

Tax Levy

  • Final approval occurs at October 29 board meeting
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SLIDE 20

Future Challenges

  • Declining resident enrollment will continue to lead to reduced revenue, while inflation will

increase operating costs.

  • Continuing reductions in state equalization aid will place a larger burden on district residents.
  • A shortage of qualified staff will lead to higher staffing costs.
  • The annual operating budget is incapable of keeping up with facility maintenance and capital

improvement needs.