2014 budget power point 1.final
DESCRIPTION
TRANSCRIPT
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Noblesville Schools2014 BUDGET PRESENTATION
Budget - A systematic plan for the expenditure of a usually fixed resource, such as money, during a given period. The total sum of money allocated for a particular purpose.
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2014 BUDGET General Fund
Operating Referendum Fund
Debt Service Funds – (2)
Capital Projects Fund
Transportation Operating Fund
Bus Replacement Fund
Rainy Day Fund
Noblesville SchoolsBudget Preparation
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Noblesville Schools
2014 Budget Presentation
2014 BUDGET
General Fund $ 60,847,180
58.60%
Debt Service Funds – Exempt / Non-Exempt
$ 19,325,164
18.61%
Capital Projects Fund $ 8,815,118
8.49%
Referendum Operating Fund $ 6,786,068
6.54%
Transportation Operating Fund $ 5,200,480
5.01%
Bus Replacement Fund $ 1,530,000
1.47%
Rainy Day Fund $ 1,325,350
1.28%
Total $ 103,829,36
0
100.00%
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Noblesville Schools2014 Budget Presentation
STATE SUPPORTED FUND
General Fund
Required By I.C. 20-40-2
(Accounting for all receipts and disbursements for current
operating purposes excluding student transportation.)
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Noblesville Schools2014 Budget Presentation
General Fund - Sources of Revenue
State Funding Formula – Based on Student Enrollment
Kindergarten Grant – Based on Student Enrollment
Summer School Funding - Reimbursement
Investment Earnings – Interest Income
Facility - Rental Income
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Noblesville Schools2014 Budget Presentation
Source of Revenue2014
Estimate Percentage
State Funding Formula $ 55,236,256 98.700%
Summer School Reimbursement $ 225,000 0.4020%
Investment Income $ 30,000 0.0536%
Facility Rental $ 75,000 0.1340%
Student Fees & Miscellaneous $ 400,022 0.7148%
Totals $ 55,966,278 100.00%
General Fund Estimated Revenues
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2013 2014 Inc./Dec. %
1. Tuition Support $45,007,369
$47,976,424
2. Academic Honors 196,200 218,000
3. Special Education 4,811,738 4,811,738
4. Voc. Education 325,550 325,550
5. Full Day Kindergarten 1,920,000 1,904,544
6. Prime Time 1,365,056 0
Net State Support $53,625,913
$55,236,256
$1,610,343
3.00%
Noblesville Schools2014 Budget Presentation
Funding Comparison – 185 Additional Students
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2013 – 2014 Actual 9,354.5 1852012 – 2013 Actual 9,170.0 1622011 – 2012 Actual 9,008.0 2062010 – 2011 Actual 8,802.0 1882009 – 2010 Actual 8,613.5 2552008 – 2009 Actual 8,358.5 1862007 – 2008 Actual 8,172.0 2442006 – 2007 Actual 7,928.0 485
2.05%1.84%2.39%2.19%3.05%2.28%3.08%6.52%
Noblesville Schools2014 Budget Presentation
Student Enrollment – ADM (Average Daily Member.)
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2008 2009 2010 2011 2012 20137800800082008400860088009000920094009600
8358.5
8613.58802
90089170
9354.5
5 Year Growth in ADM – 996 Students (11.92%)
Noblesville Schools2014 Budget Presentation
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2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 20130
100020003000400050006000700080009000
10000
6,863
9,355
10 Year Growth in ADM – 2,492 Students (36.3%)
Noblesville Schools2014 Budget Presentation
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Noblesville Schools
Academic Achievement, 81%
Std Inst Support, 7%Overhead,12%
General Fund Budget $60,847,180
2014 Budget Presentation
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Noblesville Schools
Salaries Benefits Purch Serv
Supplies Other 0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%68.5%
22.5%
4.5% 4.2%0.3%
General Fund Budget $60,847,180
2014 Budget Presentation
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Local Tax Supported Funds
Debt Service Fund
Capital Projects Fund
Transportation Operating Fund
Bus Replacement Fund
Referendum Operating Fund
Referendum Debt Exempt Capital Fund
Noblesville Schools2014 Budget Preparation
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Noblesville Schools2014 Budget Presentation
Impacting 2014 Tax Supported Funds
Net Assessed Valuations – Real & Personal Property
Circuit Breaker Loss – Tax Caps
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Noblesville Schools2014 Budget Presentation
Property Tax Assessed ValuationBudget
YearNet Assessed
ValuationPercentage
Increase
2014 – Est. $ 2,470,062,500 1.00%
2013 $ 2,445,606,389 0.18%
2012 $ 2,441,132,994 1.89%
2011 $ 2,395,761,297 1.36%
2010 $ 2,363,595,005 1.03%
2009 $ 2,339,534,508 (19.39%)
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2009 2010 2011 2012 2013 2014 2,250,000,000
2,300,000,000
2,350,000,000
2,400,000,000
2,450,000,000
2,500,000,000
1.3%
1.36%
1.89% 0.18%
1.0%
Noblesville Schools2014 Budget Presentation
5 Year Growth in A.V. – (5.73% vs. 11.92% Std)
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Noblesville Schools2014 Budget Presentation
Fund Advertised Tax Levy
Circuit Breaker
Loss - (2013)
Debt Service Fund $ 16,057,297 $ 2,232,548
Capital Projects Fund $ 7,838,522 $ 1,089,840
Transp. Operating Fund $ 4,634,628 $ 644,382
Bus Replacement Fund $ 1,191,708 $ 165,690
Referendum Operating Fund $ 6,303,917 Not Applicable
Referendum Capital Debt Fund $ 5,185,163 Not Applicable
Totals $ 41,211,235 $ 4,132,460
Circuit Breaker Loss – Tax Caps
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Noblesville Schools2014 Budget Presentation
Budget Year Levy
CircuitBreaker
NetLevy
CircuitBreaker %
2010$
26,408,447$ 3,046,504 $
23,361,943 11.5%
2011$
26,571,388$ 3,260,916 $
23,310,472 12.3%
2012$
26,166,505$ 3,663,360 $
22,503,145 14.0%
2013$
27,603,560$ 4,132,460 $
23,471,100 15.0%
Totals $ 106,749,900
$ 14,103,240
$ 92,646,660 13.2%
Circuit Breaker - History
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Local Tax Supported Funds
Debt Service Fund
Capital Projects Fund
Transportation Operating Fund
Bus Replacement Fund
Referendum Operating Fund
Referendum Debt Exempt Capital Fund
Noblesville Schools2014 Budget Preparation
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Noblesville Schools2014 Budget Presentation
Debt Service Funds - $19,325,164 Budget
NHS Ref Cap WMS NC WR MS-GO EMS NE Temp Ln
Txt BK0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%31.8%
23.1%21.2%
7.5%6.2%4.5% 3.3%1.8%
0.5%0.1%
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-
5,000,000
10,000,000
15,000,000
20,000,000
25,000,000
17.6
19.7 19.9
18.6
11.7
11.1 11.8 12.1
6.9
4.2
High SchoolNorth Elm
West M.S.Noble Cross-ing
White River Elm
East M.S.
Noblesville Schools2014 Budget Presentation
Debt Service Funds – Payment Amortization
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Local Tax Supported Funds
Debt Service Fund
Capital Projects Fund
Transportation Operating Fund
Bus Replacement Fund
Referendum Operating Fund
Referendum Debt Exempt Capital Fund
Noblesville Schools2014 Budget Preparation
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Noblesville Schools2014 Budget Presentation
Capital Projects - Funding Concerns
Funding Technology:
Student Population Increasing - 11.92% in 5 YearsOne–To–One Implementation
Maintaining Facilities:
Additional 200,000 Square Feet in Past 3 Years – 10% Increase
Revenue Shortfall:
Revenue Flat Lined Over Past 5 Years
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2005 2006 2007 2008 2009 2010 2011 2012 2013 -
1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 6,000,000 7,000,000 8,000,000 9,000,000
10,000,000
6.0
6.8
7.1
8.7
6.1
6.3
5.9 5.4
5.9
Noblesville Schools2014 Budget Presentation
Capital Projects Fund – Tax Levy Revenue
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Noblesville Schools2014 Budget Presentation
Program Budget %Technology – Equipment & Ser. $ 3,226,000 36.6%
Land Acquisition & Prof. Services $ 750,000 8.5%
Utilities & Property Insurance $ 1,342,193
15.2%
Maintenance of Facilities / Rental $ 1,039,750 11.8%
Maintenance of Equip. $ 807,300 9.2%
Purchase of Equip. $ 695,000 7.9%
Installment Contracts $ 304,875 3.6%
Sports Facilities / Other $ 650,000 7.3%
Capital Projects Fund – $8,815,118
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Local Tax Supported Funds
Debt Service Fund
Capital Projects Fund
Transportation Operating Fund
Bus Replacement Fund
Referendum Operating Fund
Referendum Debt Exempt Capital Fund
Noblesville Schools2014 Budget Preparation
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Admin.7.3%
Vehicle Oper. 56.5%
Monitor-ing Ser.
9.2%
Training0.5%
Vehicle Maint. 25.4%
Insur.1.7%
Con-tract
Ser,0.2%
Noblesville Schools2014 Budget Presentation
Transportation Fund - $5,200,480
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Noblesville Schools2014 Budget Presentation
Bus Replacement Fund
Replacement Budget $1,530,000
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Noblesville Schools2014 Budget Presentation
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 $-
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$1,530,000 $1,501,200
$147,300
$2,654,400
$2,152,600
$1,600,000 $1,572,000
$730,800
$1,183,600
$1,479,000
$1,166,000
$1,004,000
Bus Replacement Schedule – By Annual Cost
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Local Tax Supported Funds
Debt Service Fund
Capital Projects Fund
Transportation Operating Fund
Bus Replacement Fund
Referendum Operating Fund
Referendum Debt Exempt Capital Fund
Noblesville Schools2014 Budget Preparation
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Aca-demic
Achievement
75.90%
Std Inst Support9.28%
Over-head
14.82%
Noblesville Schools2014 Budget Presentation
Operating Referendum Fund - $6,786,068
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Noblesville Schools2014 Budget Presentation
Program Budget %
Transportation Operational Cost
$ 825,350 62.3%
Capital Expenditures $ 500,000
37.7%
Totals $ 1,325,350
100.0%
Rainy Day Fund
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Noblesville Schools2014 Budget Presentation
FundAssessed
Value Adv. Levy Est. Levy
Non-Exempt Debt $ 2,470,062,453 $ 16,057,297
$ 16,057,297
Capital Projects $ 2,470,062,453 $ 7,838,522
$ 7,266,265
Transportation Oper. $ 2,470,062,453 $ 4,634,628
$ 4,365,706
Bus Replacement $ 2,470,062,453 $ 1,191,708
$ 991,131
Referendum Oper. $ 2,711,562,453
$ 6,303,917
$ 5,814,265
Exempt Debt $ 2,711,562,453 $ 5,185,163
$ 5,185,163
Totals $ 41,211,235
$ 39,679,830
Property Tax Levies
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Noblesville Schools2014 Budget Presentation
Fund2013Actual
2014 Advertised
2014 Projected
Total Tax Levy $ 36,456,491
$ 41,211,235
$ 39,679,830
Assessed Valuation $ 2,445,606,389
$ 2,470,062,453
$ 2,484,192,919
Change In A.V. 1.00% 1.578%
Tax Rate $ 1.4584 $ 1.6269 $ 1.5546
Property Tax Levies
Updated Values – Oct. 7th AmountProjected A.V. Increase of 1.578% $ 2,484,192,919
Additional TIF A.V. $ 264,868,467
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Noblesville Schools2014 Budget Presentation
Additional Consideration For 2014
Tax Anticipation Warrants
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Noblesville Schools2014 Budget Presentation
Budget Adoption Meeting
October 29, 2013
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Noblesville Schools
SUMMARY COMMENTS
Student EnrollmentConsistent Growth Averaging 2.4% Over 5 Years
Property Tax Assessed ValuationModest Positive Growth Averaging 1.2% Over 5 Years
Increasing Operational CostStudent Growth Exceeding Assessed Valuation Growth
Circuit Breaker / Tax CapsFlat Lining Local Property Tax Revenue