PowerPoint Presentation · sy 2010–11 sy 2011–12 sy 2012–13 sy 2013–14 sy 2014–15 sy...

39

Transcript of PowerPoint Presentation · sy 2010–11 sy 2011–12 sy 2012–13 sy 2013–14 sy 2014–15 sy...

Page 1: PowerPoint Presentation · sy 2010–11 sy 2011–12 sy 2012–13 sy 2013–14 sy 2014–15 sy 2015–16 sy 2016–17 sy 2017–18 sy 2018–19 IPS Operations Innovation-LEA Innovation-Non-LEA
Page 2: PowerPoint Presentation · sy 2010–11 sy 2011–12 sy 2012–13 sy 2013–14 sy 2014–15 sy 2015–16 sy 2016–17 sy 2017–18 sy 2018–19 IPS Operations Innovation-LEA Innovation-Non-LEA

SY 2018-19BUDGET APPROPRIATIONS

Weston Young, CPA – Chief Financial Manager

February 15, 2018

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overview

3

1

2

3

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4 Budget Appropriation

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budget appropriation

5 key messages

Budget appropriation authorizes maximum spending

authority.

Projected cash flows create structural deficits which exceed

cash reserves.

Appropriation of rainy-day and referendum funds addresses

structural deficits.

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budget appropriation

6 what is a budget appropriation?

An estimate of maximum

expenditures of the school

corporation from each fund.

Authorization from the

Board to spend a

maximum amount from

each fund for a fiscal year.

A submission to the

Department of Local

Government Finance (DGLF).

A line-item budget to allocate

resources to schools and

divisions.

A breakdown of expenditures

by use (salaries, benefits,

contracted services, etc.).

A guarantee of district revenues.

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budget appropriation

7 key terminology

Levy - property tax proceeds

Appropriation – legal spending authority

Structural Deficit – amount of spending required for a level of service greater than revenues in a budget

year regardless of how well the economy is performing. A deficit which continues for a longer period of time

rather than a cyclical deficit which is related to short-term factors.

Circuit Breaker – unpaid property tax resulting in reduced property tax funds received by school district.

Indiana law limits the amount of property taxes paid by a taxpayer based upon their type of property and

the property’s fair market value. The maximum limits are commonly referred to as property tax caps.

Rainy Day Fund – board appropriated fund which accumulates prior year excess cash balances from other

board appropriated funds. Board resolution 3032-15 in July 2015 provides guidance on use of funds. The

funds are available to provide relief to support funding shortfalls, in any other fund, as necessary.

Fund Balance % - amount of cash in an appropriated fund as a percentage of the fund’s annual

expenditures. Cash divided by Annual Expenditures multiplied by 100%.

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8

When What Who

January–FebruaryProject Revenues, and Determine School and

Operational NeedsAdministration and Staff

February 15 Conduct initial review of Budget Appropriation Administration and Board

February 20 and 22Conduct additional review of Budget

AppropriationAdministration and Board

February 23Publish first advertisement of Budget

Appropriation in Newspaper and on WebsiteAdministration and Staff

March 2Publish second advertisement of Budget

Appropriation in Newspaper and on WebsiteAdministration and Staff

March 5Conduct Budget Appropriation Public Hearing

(10 days before adoption)

Board of School

Commissioners

March 15 Approve Budget AppropriationBoard of School

Commissioners

April–June Utilize Authorized Appropriation to Develop

Line-Item BudgetsAdministration and Staff

budget appropriation

timeline

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9

budget appropriation

Funds Requested

Levy

Proposed

Appropriation

1 General n/a $269,000,000

2 Debt Service $52,700,000 $36,300,000

3 Retirement/Severance Debt $4,250,000 $2,882,000

4 Referendum Debt 2008 $26,500,000 $21,063,000

5 Capital Projects $38,200,000 $51,400,000

6 Transportation $38,200,000 $40,300,000

7 Bus Replacement $12,400,000 $13,200,000

8 Total $172,250,000 $434,145,000

SY 2018–19: proposal to maximize revenue

Requested Levy (requested property-tax proceeds) – Amount of cash requested from local property taxes; this

amount is reduced by DLGF due to maximum levy and debt service reserve limitations.

Proposed Appropriation (spending authority/budget estimate) – Current cash balance plus projected maximum

annual expenditures; this is the amount needed to fund the desired activities of the school corporation.

Note: Debt funds have levies which exceed appropriations due to minimum cash balance required by

Indiana statute (IC 6-1.1-17-22).

Subject to change due to state, federal or county funding fluctuations Content updated 2.12.2018

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10 Financial Landscape

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financial landscape

A B C D E F

Funds Requested

Levy

Projected

Circuit Breaker

Projected Net

Revenue

Projected

Expenditures

Projected

Deficit

1 General n/a n/a $242,700,000 ($269,000,000) ($26,300,000)

2 Capital Projects $38,200,000 ($10,600,000) $27,600,000 ($32,000,000) ($4,400,000)

3 Transportation $38,200,000 ($11,200,000) $27,000,000 ($37,700,000) ($10,700,000)

4 Bus Replacement $12,400,000 ($4,700,000) $7,700,000 ($11,400,000) ($3,700,000)

Total Projected Operating Funds Deficit ($45,100,000)

SY 2018-19 revenues and expenditures

Subject to change due to state, federal or county funding fluctuations Content updated 2.12.2018

Recommended appropriations project structural deficits

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financial landscape

Subject to change due to state, federal or county funding fluctuations Content updated 2.12.2018

FundsProjected Balance

6.30.2018

Projected

Net Cash Flow

Projected Balance

6.30.2019

General $18,700,000 ($26,300,000) ($7,600,000)

Capital Projects $10,000,000 ($4,400,000) $5,600,000

Transportation $0 ($10,700,000) ($10,700,000)

Bus Replacement $1,000,000 ($3,700,000) ($2,700,000)

Subtotal $29,700,000 ($45,100,000) ($15,400,000)

Cash flows based on proposed budget appropriations

SY 2018-19 projected cash flows

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13 Recommendations

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recommendations

14 authorize appropriations to address structural deficits

Funds Levy Appropriation

1 Rainy-Day n/a $18,919,896

2 Proposed Operating Referendum $92,492,139 $46,246,070

Authorize appropriation of rainy-day funds

Authorize appropriation of proposed operating

referendum funds

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recommendations

Subject to change due to state, federal or local funding fluctuations Content updated 2.12.2018

Funds

Projected

Balance

6.30.2018

Projected

Net Cash Flow

Rainy-Day

Fund

Referendum

Proceeds

Projected

Balance with

Additional

Funds

6.30.2019

Fund

Balance

%

General $18,700,000 ($26,300,000) $0 $44,471,070 $36,871,070 14%

Capital Projects $10,000,000 ($4,400,000) $0 $0 $5,600,000 18%

Transportation $0 ($10,700,000) $14,469,896 1,775,000 $5,544,896 15%

Bus Replacement $1,000,000 ($3,700,000) $4,450,000 $0 $1,750,000 15%

Total $29,700,000 ($45,100,000) $18,919,896 $46,246,070 $34,519,896 14%

authorize SY 2018-19 cash flows

Fund Reserve Balance Policy (Board policy 6227) provides guidance on retaining reserves equal to at least 1 to 3

months or 8% to 25% of annual expenditures.

based with rainy-day and operating referendum funds

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16 APPENDIX

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general fund

17

$0

$50,000,000

$100,000,000

$150,000,000

$200,000,000

$250,000,000

$300,000,000

General Fund and Related Supporting FundsCalendar Year 2010 through SY 2017–18 Projected

Education JobsRevenue

Fiscal StabilizationRevenue

Other LocalRevenue

Tuition SupportRevenue

Total Expenditures

General FundCash Balance

Content updated 2.12.2018

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debt service funds

18

$0

$10,000,000

$20,000,000

$30,000,000

$40,000,000

$50,000,000

$60,000,000

$70,000,000

Debt Service FundsCalendar Year 2010 through SY 2017–18 Projected

Other LocalRevenue

Misc. TaxRevenue

Property TaxRevenue

TotalExpenditures

Cash Balance

Content updated 2.12.2018

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capital projects fund

19

$0

$10,000,000

$20,000,000

$30,000,000

$40,000,000

$50,000,000

$60,000,000

Capital Projects FundCalendar Year 2010 through SY 2017–18 Projected

Other LocalRevenue

Misc. TaxRevenue

Property TaxRevenue

TotalExpenditures

Cash Balance

Content updated 2.12.2018

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transportation operating fund

20

($5,000,000)

$0

$5,000,000

$10,000,000

$15,000,000

$20,000,000

$25,000,000

$30,000,000

$35,000,000

$40,000,000

Transportation Operating FundCalendar Year 2010 through SY 2017–18 Projected

TemporaryLoans

Other LocalRevenue

Misc. TaxRevenue

Property TaxRevenue

TotalExpenditures

Cash Balance

Content updated 2.12.2018

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bus replacement fund

21

$0

$5,000,000

$10,000,000

$15,000,000

$20,000,000

$25,000,000

Bus Replacement FundCalendar Year 2010 through SY 2017–18 Projected

TemporaryLoans

Other LocalRevenue

Misc. TaxRevenue

Property TaxRevenue

TotalExpenditures

Cash Balance

Content updated 2.12.2018

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rainy-day fund

22

$0

$5,000,000

$10,000,000

$15,000,000

$20,000,000

$25,000,000

Rainy-Day FundCalendar Year 2010 through SY 2017–18 Projected

TemporaryLoans

Other LocalRevenue

Misc. TaxRevenue

Property TaxRevenue

TotalExpenditures

Cash Balance

Content updated 2.12.2018

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long-term budget planning

23 estimated fund balances

Fund Balances 6.30.2016 6.30.2017 6.30.2018 6.30.2019

General and Rainy Day $72,000,000 $52,000,000 $37,000,000 $0

Debt Services $35,000,000 $26,000,000 $22,000,000 $21,000,000

School Lunch $30,000,000 $26,000,000 $23,000,000 $18,000,000

CPF/Transportation $33,000,000 $29,000,000 $11,000,000 $0

Other $30,000,000 $24,000,000 $16,000,000 $14,000,000

Total $200,000,000 $157,000,000 $109,000,000 $53,000,000

$0

$50,000,000

$100,000,000

$150,000,000

$200,000,000

$250,000,000

6.30.2016 6.30.2017 6.30.2018 6.30.2019

General and Rainy Day

Debt Service

School Lunch

CPF/Transportation

Other

Content updated 2.12.2018

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33,408 32,59530,557 30,496

29,57027,988

26,14524,032 23,786

539

1,762

2,897 2,781

850 1,398 3,425 4,082

1,986 1,9741,903 1,602 1,616

1,563 1,563

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

SY 2010–11 SY 2011–12 SY 2012–13 SY 2013–14 SY 2014–15 SY 2015–16 SY 2016–17 SY 2017–18 SY 2018–19

IPS Operations Innovation-LEA Innovation-Non-LEA Turnaround

long-term budget planning

24

32,47031,473 30,979 30,921 31,917

32,54333,408 32,595

historical perspective: enrollment

32,212

Projection

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25

$7,367 $7,332

$7,209 $7,265

$7,058

$6,732

$6,971

$6,934

$7,014

$6,400

$6,600

$6,800

$7,000

$7,200

$7,400

$7,600

2010–11 2011–12 2012–13 2013–14 2014–15 2015–16 2016–17 2017–18 2018-19

historical perspective: state fund budget $ per pupil

Projected

funding sources

Content updated 2.12.2018

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long-term budget planning

26

$9,086,317,992 $9,024,119,677

$9,745,667,423 $9,667,203,109

$10,045,427,309

$10,738,720,168

$8,000,000,000

$8,500,000,000

$9,000,000,000

$9,500,000,000

$10,000,000,000

$10,500,000,000

$11,000,000,000

2013 2014 2015 2016 2017 2018

historical perspective: certified assessed value

Content updated 2.12.2018

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long-term budget planning

27

Percent Change in Gross Assessed Value of

All Indiana Property 2008–2016

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long-term budget planning

28 certified tax rates

2013 2014 2015 2016 2017 2018

Referendum Debt $0.2433 $0.0790 $0.1621 $0.2025 $0.0777 $0.1232

Retirement/Severance $0.0365 $0.0283 $0.0325 $0.0362 $0.0140 $0.0229

Debt Service $0.4249 $0.4014 $0.3958 $0.4654 $0.0983 $0.2516

School Bus Replacement $0.1108 $0.1145 $0.1089 $0.0735 $0.1125 $0.1094

Transportation $0.2954 $0.2929 $0.3036 $0.3478 $0.3323 $0.3036

Capital Projects $0.3720 $0.3728 $0.3475 $0.2916 $0.3387 $0.3229

$0.0000

$0.2000

$0.4000

$0.6000

$0.8000

$1.0000

$1.2000

$1.4000

$1.6000$1.4829

$1.2889

$1.3504 $1.4170

$0.9735

$1.1336

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long-term budget planning

29 indiana forecast revenues 2017–19

Budget

2017

Budget

2018

Budget

2019

Average Change

2017–19

Revenues 15,389 15,780 16,378 3.2%

Sales Tax 7,433 7,630 7,886 3.0%

Indiana

Income Tax5,473 5,661 5,997 4.7%

Corporate

Income Tax914 949 975 3.2%

Gaming 432 419 402 (3.6%)

All Other 1,137 1,121 1,119 (0.8%)

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long-term budget planning

30

Indiana State Appropriations as Percent of

Indiana Total Personal Income (estimated 2017–19)

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long-term budget planning

31 indiana budget appropriations 2017–19

Budget

2017

Budget

2018

Budget

2019

Average Change

2017–19

Appropriations 15,989 15,861 16,430 1.4%

K–12 Education 8,117 8,218 8,375 1.6%

Higher Education 1,902 1,935 1,962 1.6%

Medicaid 2,242 2,107 2,365 2.7%

Health/Social Services 1,267 1,353 1,407 5.4%

Public Safety 983 1,003 1,021 1.9%

All Others 1,478 1,246 1,300 (6.2%)

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long-term budget planning

32

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example allotments

33 example: traditional school funding

Local State Federal

Combination

Funds Distributed to

School Through IPS

School Admin. & Choice

Programming

Title I Program

Student-Based

Allocation

Funds Distributed

Directly to School

Services Provided

to School

Food Services

Facilities &

Transportation

Special Education

& EL

Content updated 1.18.2018

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example allotments

34 example: traditional school funding

Through SBA

Outside SBA

Allocation Source (Under SBA) $ PP Students Dollars

Base Allocation $3,985 349 $1,390,765

Grade Weight $400 161 $64,400

Poverty Weight $500 302 $151,000

Baseline Supplement - - - - - - $45,000

Transition Adjustment - - - - - - $120,000

Strategic Support - - - - - - - - -

Total: $1,771,165

Restricted Funds (not comprehensive)

Title I Allocation $124,238

Title II/III Allocation $16,799

Total: $141,000

Locked Resources (not comprehensive)

Custodial Services $120,338

Food Service $218,695

Special Education $342,000

English Learners $78,987

School Admin. and Central Services $253,251

Choice Programming $0

Transportation Services $400,695

Facilities Maintenance $500,695

Total: $1,915,000

Local State Federal

Combination

Content updated 1.18.2018

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example allotments

35 example: innovation-lea school funding

Funds Distributed to

School Through IPS

School Admin. & Choice

Programming

Title I Program

Student-Based

Allocation

Funds Distributed

Directly to School

Services Provided

to School

Food Services

Facilities &

Transportation

Special Education

& EL

Local State Federal

Combination

Content updated 1.18.2018

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example allotments

36 example: innovation-lea school funding

Allocation Source (Under SBA) $ PP Students Dollars

Base Allocation $3,985 349 $1,390,765

Grade Weight $400 161 $64,400

Poverty Weight $500 302 $151,000

Baseline Supplement - - - - - - $45,000

Transition Adjustment - - - - - - $120,000

Strategic Support - - - - - - - - -

Total: $1,771,165

Restricted Funds (not comprehensive)

Title I Allocation $124,238

Title II/III Allocation $16,799

Total: $141,000

Locked Resources (not comprehensive)

Custodial Services $120,338

Food Service $218,695

Special Education $342,000

English Learners $78,987

School Admin. and Central Services $253,251

Choice Programming $0

Transportation Services $400,695

Facilities Maintenance $500,695

Total: $1,915,000

Per-Pupil Agreement

Services and OperationsPer AgreementLocal State Federal

Combination

Content updated 1.18.2018

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example allotments

37 example: innovation-non-lea school funding

Local State Federal

Combination

Funds Distributed to

School Through IPS

State Tuition &

Complexity Support

State Special

Education Support

Funds Distributed

Directly to School

Title Programs

Special Education

& EL

Food Service

Services Provided to School

(if elected in agreement)

Food Service

Facilities &

Transportation

*

Special Education

& EL

*Non-LEA innovation schools may utilize state tuition dollars to fund transportation and facilities; however,

some innovation operators are provided transportation and facilities due to access to IPS property-tax

funded services. See individual non-LEA innovation agreements for more details. Content updated 1.18.2018

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example allotments

38 example: innovation-non-lea school funding

Allocation Source $ PP Students Dollars

Tuition Support $5,088 349 $1,775,712

Complexity Index Support $1,661 349 $579,689

Special Education Support – Level 1 $500 10 $5,000

Special Education Support – Level 2 $2,300 3 $6,900

Special Education Support – Level 3 $8,976 1 $8,976

Equity Retainer - - - - - - - - -

Total: $2,376,277

Per-Pupil

Agreement

Services and

Operations

Per Agreement

Restricted Funds (not comprehensive)

Title I Allocation $124,238

Title II/III Allocation $16,799

Total: $141,000

Locked Resources (not comprehensive)

Custodial Services ($120,338)

Food Service $218,695

Special Education $321,300

English Learners $78,987

School Admin. and Central Services ($253,251)

Transportation Services* ($400,695)

Facilities Maintenance* ($500,695)

Total: ($656,000)

*Non-LEA innovation schools may utilize

state tuition dollars to fund transportation

and facilities; however, some innovation

operators are provided transportation and

facilities due to access to IPS property-tax

funded services. See individual non-LEA

innovation agreements for more details.

Local State Federal

Combination

Content updated 1.18.2018

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