FY 14 Budget Presentation - BoardDocs...FY#2012(13#Final#Budget Revenues FY#2012’13# Original...
Transcript of FY 14 Budget Presentation - BoardDocs...FY#2012(13#Final#Budget Revenues FY#2012’13# Original...
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FY 2013-‐14 BudgetFY 2012-‐13 Final Budget
Canyons School DistrictJune 18, 2013
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Agenda| Declare opening of public hearing of FY 2012-‐13 Final
Budget and the FY 2013-‐14 Budget
| Staff presentaDon of budgets
| Allow public comment
| Close public hearing
| Board discussion
| Adopt FY 2012-‐13 Final Budget & FY 2013-‐14 Budget
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Final Budget FY 2012-‐13
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FY 2012-‐13 Final Budget(All Funds)
FY 2012-‐13 Original
FY 2012-‐13 Final Change
Revenue $310,952,000 $317,315,000 $6,363,000
Expenditures 400,846,000 432,918,000 32,072,000
Excess(Deficit) ($89,894,000) ($115,603,000) ($25,709,000)
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FY 2012-‐13 Final BudgetRevenues
FY 2012-‐13 Original
FY 2012-‐13 Final Change
General Fund $214,585,000 $218,807,000 $4,222,000
Capital Fund 22,640,000 23,302,000 662,000
Non K-‐12 Fund 6,593,000 7,011,000 418,000
District AcDvity Fund 7,952,000 8,100,000 148,000
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FY 2012-‐13 Final BudgetExpenditures
FY 2012-‐13 Original
FY 2012-‐13 Final Change
General Fund $217,338,000 $220,608,000 $3,270,000
Capital Fund 99,731,000 128,857,000 29,126,000
Non K-‐12 Fund 6,930,000 7,321,000 391,000
District AcDvity Fund 7,859,000 8,181,000 322,000
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Summary of Changes| General Fund
{ $1.7 million from FY12 unspent school supplies, textbooks, equipment, etc. Added to FY 13 school budgets
{ $0.9 million in Early ReDrement IncenDve
| Capital Fund{ $10.4 million land purchases
{ $19.9 million in FY 13 bond projects expense (note:the projects are NOT over budget just more construcDon and FF&E purchases occurred in FY 13 than projected).
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FY 2013-‐14 Budget
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FY 2013-‐14 BudgetRevenues Expenditures Excess/(Deficit)
General Fund $220,530,000 $223,286,000 ($2,756,000)
Capital Fund 24,271,000 50,076,000 (25,805,000)
Debt Service Fund 24,542,000 28,731,000 (4,189,000)
NutriDon Fund 11,823,000 13,182,000 (1,359,000)
Non K-‐12 Fund 7,151,000 7,372,000 (221,000)
District AcDvity Fund 8,468,000 8,287,000 181,000
Canyons FoundaDon Fund 413,000 664,000 (251,000)
Employee Insurance Fund 23,496,000 26,516,000 (3,020,000)
Total All Funds $320,694,000 $358,114,000 ($37,420,000)
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!$198!! !$200!!
!$211!!
!$190!!!$197!!
!$204!!
!$170!!
!$180!!
!$190!!
!$200!!
!$210!!
!$220!!
2010! 2011! 2012!
Millions!
General!Fund!!Expenditures!
Final!Budget!(Exps)! Actuals!(Exps)!
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!$(2)!
!$6!!
!$(1)!
!$5!!
!$10!!
!$5!!
!$(5)!
!$&!!!!
!$5!!
!$10!!
!$15!!
2010! 2011! 2012!
Millions!
General!Fund!!Excess/(Deficit)!
Final!Budget! Actual!
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12*Budgeted Amounts
!$195!!
!$208!! !$210!!
!$219!! !$221!!
!$190!!
!$197!!
!$204!!
!$221!!!$223!!
!$170!!
!$180!!
!$190!!
!$200!!
!$210!!
!$220!!
!$230!!
2010! 2011! 2012! 2013*! 2014*!
Millions!
General!Fund!!Revenue!v.!Expenditures!
Revenues! Expenditures!
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CerOfied Tax Rate Value2012-‐13
2012 Value $13,439,102,588
2013 Value 14,015,663,114
Change $576,560,526
Percentage Change 4.29%
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CerOfied Tax Rate Value
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!$15,464!!
!$13,949!!!$13,717!!
!$13,439!!
!$14,016!!
(9.80%)!
(1.66%)!(2.03%)!
4.29%!
(12.00%)!
(10.00%)!
(8.00%)!
(6.00%)!
(4.00%)!
(2.00%)!
0.00%!
2.00%!
4.00%!
6.00%!
!$12,000!!
!$12,500!!
!$13,000!!
!$13,500!!
!$14,000!!
!$14,500!!
!$15,000!!
!$15,500!!
!$16,000!!
2010! 2011! 2012! 2013!
Percen
t'Cha
nge'
Cer,fie
d'Tax'Ra
te'Value
'
Millions'
Tax'Year'
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Tax Levies2012-‐13 2013-‐14 Change
Basic State 0.001651 0.001691 0.000040
Board Local 0.001881 0.001729 (0.000152)
Voted Leeway 0.001600 0.001600 0.000000
Capital Outlay 0.001067 0.001055 (0.000012)
Capital EqualizaDon 0.000600 0.000600 0.000000
Debt Service 0.001619 0.001619 0.000000
Total All Levies 0.008418 0.008294 (0.000124)
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Cer5fied Tax Rate
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Property Value CerDfied Tax Rate
Revenue received by theDistrict remains the same
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Cer5fied Tax Value v. Tax Rate
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!0.006400!!
!0.006600!!
!0.006800!!
!0.007000!!
!0.007200!!
!0.007400!!
!0.007600!!
!0.007800!!
!0.008000!!
!0.008200!!
!0.008400!!
!0.008600!!
!$12,000!!
!$12,500!!
!$13,000!!
!$13,500!!
!$14,000!!
!$14,500!!
!$15,000!!
!$15,500!!
!$16,000!!
2009! 2010! 2011! 2012! 2013!
Millions'
Cer2fied!Tax!Rate!Value! Tax!Rate!
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Effect on Homeowner for Every $100,000 of Assessed Value
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2012-‐13 2013-‐14 $ Change % Change
$100K Appraised Value
$100,000 $100,000 $0 0.00%
Primary Home ExempDon
(45,000) (45,000) 0 0.00%
Taxable Value $55,000 $55,000 $0 0.00%
Tax Rate 0.008418 0.008294 (0.000124) (1.47%)
Taxes Due $462.99 $456.17 ($6.82) (1.47%)
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Employee CompensaOon| Fund Steps & Lanes for cerDfied employees & steps
for administraDve employees
| 0.5% COLA for licensed & administraDve employees
| Licensed-‐decreased employee share of insurance premium effecDve January 1, 2014. Employee will now pay 28.6% of premium rather than 33.0%
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Included in Budget| Fund 9% URS contribuDon increase ($1.9 million)
| 2 secondary achievement coaches
| 1 educaDon technology specialist
| 9 teachers for grade reconfiguraDon
| 1 bus mechanic
| $1 million for under mileage bus routes
| Expand AVID at Mt. Jordan MS20
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General Fund Revenue
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Property Taxes34.9%
State -‐ Unrestricted34.2%
State -‐ Restricted20.8%
Federal6.5%
Local3.6%
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General Fund Expenditures
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Salaries & Benefits84.2%
Other7.2%
Supplies & Texts4.6% UDliDes
3.9%
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General Fund Expenditures
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InstrucDon63.3%
Student Services4.4%
Staff Services5.2%
District AdministraDon0.9%
School AdministraDon7.1%
Business Services5.3%
OperaDon of Plant10.4%
TransportaDon3.3%
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Capital Fund
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Bond Project TimelineProject Start Opening
Mt. Jordan MS June 2013 August 2015
Midvale MS June 2015 August 2017
Indian Hills MS June 2017 August 2018
Butler ES June 2017 August 2018
White City Area ES June 2018 June 2019
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Small Capital ProjectsBudget
Jordan HS-‐tennis courts, HVAC, commons $1,680,000
Alta HS-‐convert shops, fire panel replacement 1,035,000
Draper ES-‐interior, lighDng & electrical upgrade 350,000
LighDng upgrades-‐6 elementary schools 300,000
Silver Mesa ES-‐wall carpet replacement 200,000
District-‐wide projector installment 100,000
Jordan Valley-‐pool pump replacement 100,000
Other small capital projects 700,000
Total $4,465,000
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Other Capital ExpendituresBudget
District-‐wide building repairs & site work $4,590,000
IT projects & equipment 3,100,000
Buses 1,910,000
Bond issuance, copy machines, driver ed cars, equip. 1,525,000
School equipment & FF&E for new buildings 3,716,000
Total $14,841,000
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Bond Issuance| Plan for next bond issue
| Adopt Parameters ResoluDon-‐Aug 6th Board Mtg
| Up to $60 million
| Sale late September, early October
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Board AcOon| Adopt the 2012-‐13 final budget as presented
| Adopt the 2013-‐14 budget as presented and adopDng the tax rates as follows:{ Set the tax rate at the CerDfied Tax Rate as calculated
by the State Tax Commission
{ Set the State Basic Rate at the rate determined by USOE when received
{ Set the Debt Rate 0.001619 for 2013-‐14
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Budgeted Revenues/ExpendituresGeneral Fund
!$196!! !$196!!
!$207!!
!$215!!
!$221!!
!$198!! !$199!!
!$206!!
!$217!!
!$223!!
!$180!!
!$185!!
!$190!!
!$195!!
!$200!!
!$205!!
!$210!!
!$215!!
!$220!!
!$225!!
!$230!!
2010! 2011! 2012! 2013! 2014!
Millions!
Budgeted!Revenue! Budgeted!Expenditures!