basic school finance 101 everything you wanted to know but were afraid to ask! prepared by galen...
TRANSCRIPT
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Basic School Finance 101
Everything You Wanted To
Know But Were Afraid To Ask!
Prepared by
Galen Howsare, RSBA
Associate Superintendent of Administrative Services
West Des Moines Community School District
226-2716
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Goals
Help everyone to LEARN and UNDERSTAND some of the complexities of Iowa School Finance.
ANSWER your questions.
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What if you don’t understand?
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Have a question?
I would appreciate it if you would interrupt me, by raising your hand or calling my name, so that I can address your question at that time.
Thanks in advance for your cooperation!!!!!!
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Want to know more?
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Helpful ResourcesIowa Department of
Education (www.state.ia.us/educate)
School Laws of Iowa (www.edinfo.state.ia.us/web/law.asp)
Iowa School Finance Manual (Iowa Association of School Boards)
Certified Annual Report Spreadsheets(www.state.ia.us/educate/fis/sft/car/spreads.html)
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Helpful Resources (continued)
Iowa Condition of Education Reportwww.state.ia.us/educate
Uniform Administrative Procedures for Iowa School Officials (UAP) and Uniform Financial Accounting Manual (www.state.ia.us/educate/fis/sft/pubs.html)
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Helpful Resources (continued)
Iowa Association of School Boards (www.ia-sb.org/finance/finance.asp)
District Documents Proposed Certified Budget 2001-02; Certified Budget Enrollment
September 21, 2001;
10-year Facility Master Plan (on web); Board Policies (on web)
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District’s Web Site
http://www.wdm.k12.ia.us
Check it out!!!
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Where do we start?
You have to know the rules first!
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Good stuff to know!!!!!!!
Dillon’s RuleDistrict Boundaries versus
City BoundariesDifferent FundsSchool Foundation
FormulaAllowable Growth and
Enrollment
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Good stuff to know!!!!!!!
Spending Authority versus Money in the Bank
What is the source of spending authority and cash?
Where does the money go?Long term debtCost efficiencies
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Good stuff to know!!!!!!!
Dillon’s Rule
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Dillon’s Rule severely limits the district’s legal authority
In 1868 I issued a decision that schools only have authority for things which are expressly granted or necessarily implied in governing statutes. They don’t have HOME RULE authority.
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Home Rule
Cities/Counties have the broad authority to exercise any power or perform any function deemed appropriate except for statutory prohibition.
“Do whatever you want except for what law says you can’t”
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Home Rule Is Far Less Limiting Than Dillon’s Rule
Cities &
Counties
Schools
Home Rule
Dillon’s Rule
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Good stuff to know!!!!!!!
District Boundaries versus City Boundaries
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School District Map
60th Street
142nd Street
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School District versus City
Boundaries for school districts are INDEPENDENT of city
boundaries. Therefore, as city boundaries change, school district boundaries remain
unchanged.
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Good stuff to know!!!!!!!
Different Funds
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District FundsGeneralActivityManagementPhysical Plant
and Equipment Levy (Regular and Voted PPEL)
Public Education & Recreation Levy (PERL)
Capital Projects includes Sales and Services Tax Fund
Debt ServiceEnterprise-
School NutritionEnterprise-
Community Education
Trust
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GENERAL FUND
Description: Used to account for all financial resources except those required in another fund. Typical items include employee salaries, benefits, services, supplies, maintenance and equipment
Revenue Sources: Foundation Formula determines property tax and state aid, cash reserve, federal dollars and funding from other sources (miscellaneous income) such as tuition, earned interest, and open enrollment
Authority: State Foundation Formula & Board
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ACTIVITY FUND
Description: Student-related activities such as fundraising events, athletics, and other extra curricular
Revenue Sources: Student fees,
gate admissions, sales
Authority: Board and student groups
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MANAGEMENT FUND
Description: Used to pay district unemployment charges, non-employee insurances, and early retirement benefits
Revenue Sources: Property tax with rate dependent on dollars needed
Authority: Board
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PHYSICAL PLANT AND EQUIPMENT LEVY (PPEL)
Description: (Iowa Code Chapter 298.3) Used for the purchase and improvement of sites, buses, and major building repair and re-modeling, single units of equipment over $1,500
Revenue Sources: Property tax (calculated on Taxable Valuation plus Tax Increment Finance Valuation)
Authority: Regular (33-cents per $1,000) and Voted (max. $1.34). Currently, WDMCSD max. is $1.34.
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Public Education and Recreation Levy (PERL)
Description: (Iowa Code Chapters 276 and 300) This levy is used for the support of community education in WDMCSD.
Revenue Sources: Property tax
Authority: Voters, maximum allowed 13.5 cents per $1,000 of valuation, stays in place unless petitioned for election
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CAPITAL PROJECTS FUND
Description: Used to account for the resources that pay bills for school building additions and loans authorized by Chapter 297.36 or the local option sales and services tax
Revenue Sources: Bond proceeds, Local Option Sales and Services Tax
Authority: Voters, requires 60% for bonds
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DEBT SERVICE FUND Description: Used for the
accumulation of dollars for, and the payment of, general long-term debt, principal and interest
Revenue Sources: Property tax (calculated on Taxable Valuation plus Tax Increment Finance Valuation)
Authority: Board, rate set as needed to meet scheduled payments
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ENTERPRISE: SCHOOL NUTRITION FUND
Description: Used for school lunch and breakfast program
Revenue Sources: Lunch and breakfast sales, ala carte sales, federal and state subsidies
Authority: Board approves lunch prices
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ENTERPRISE: COMMUNITY EDUCATION FUND
Description: Used for educational programs available to the public such as KIDS WEST, construction technology class, and student stores
Revenue Sources: Fees and sales
Authority: Board, CE Advisory Board
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TRUST FUND
Description: Used for the assets held by the district from memorials not donated to the educational foundation*.
Revenue Sources: Donations
Authority: Board
* West Des Moines Community Schools Foundation for Educational Excellence
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Good stuff to know!!!!!!!
School Foundation Formula
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State Foundation Formula
Used to calculate a school district’s general fund budget, which primarily supports the education program of a school district. Each school district is responsible for calculating its budget (revenues and expenditures) under the state foundation formula. The formula also determines the maximum amount (spending authority limit) for the district’s expenditures.
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State Foundation Formula
In other words, the state foundation formula SETS AN EXPENDITURE CEILING for each school district’s total spending authority and TELLS the school district how to fund its spending authority.
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The maximum limit on a credit card is much like spending authority.
The maximum limit does not necessarily mean you have the money to spend to that limit.
Spending authority is a calculation. It does not generate its own money.
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School Foundation Principles
Equity in expenditures
Property tax relief Equalization of
method of taxation Uniform state aid
allocation formula Predictable Simple
Pupil driven Provide for
local discretion and incentives
ESTABLISH MAXIMUM SPENDING CONTROL
One formula for AEA & K-12
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Equity in Expenditures
Enrollment # Districts 1999-2000<250 25 6,402$
250-399 53 5,835$ 400-599 71 5,591$ 600-999 105 5,477$
1,000-2,499 84 5,447$ 2,500-7,499 24 5,515$
7,500+ 9 5,936$ WDMCSD 5,618$
STATE AVG 5,630$ Total 371
Average General Fund Per Pupil Expenditures by Enrollment
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Equity in Expenditures
Wow!Wisconsin spent nearly$1,900 more per pupil
than the Iowa average in 1999-2000!
Rank 1999-2000Iowa 34 6,008$
Nation 6,627$ Illinois 26 6,149$ Kansas 23 6,386$
Minnesota 14 7,435$ Missouri 37 5,846$ Nebraska 32 6,000$
South Dakota 45 5,369$ Wisconsin 11 7,886$
Source: Iowa Condition of Education (NEAoriginal source)
Surrounding States Average General Fund Per
Pupil Expenditures
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Pupil Driven
times DCPP =
DCPP = District Cost Per Pupil = Property Tax/State Aid Revenue per pupil
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Certified Enrollment
This is the number of resident pupils on the third Friday in September. This count generates the budget and spending authority for the following school year.
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Certified Enrollment History
SEPT. PK-6 7-8 9-12 Total1996 4,680.3 1,358.6 2,454.7 8,493.6 1997 4,620.9 1,375.0 2,581.4 8,577.3 1998 4,698.7 1,382.2 2,612.9 8,693.8 1999 4,744.6 1,346.7 2,589.0 8,680.3 2000 4,761.0 1,314.1 2,657.5 8,732.6 2001 4,781.5 1,383.4 2,688.7 8,853.6
2002 * 4,745.0 1,475.0 2,705.0 8,925.0 2003 * 4,743.0 1,455.0 2,779.0 8,977.0
* Projection
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Open Enrollment
Open Enrollment History/Projections
-
100.0
200.0
300.0
400.0
500.0
600.0
Stu
de
nt
Co
un
t
IN OUT
Current projectionsshow the gap between
ins and outs narrowing.
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What is Allowable Growth?Allowable Growth is the percentage increase of the State Cost Per Pupil, which is set each year by the Iowa Legislature. This percentage, when multiplied by the current year’s State Cost Per Pupil, determines the amount of dollar growth in each district’s cost per pupil. For example, if the State Cost Per Pupil is $4,512, then a 4% allowable growth means that it will increase by $180 for the next year ($4,512 x 4% = $180). So, $4,692 ($4,512 + $180) becomes the State Cost Per Pupil for the next year.
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How is Allowable Growth determined?
State Cost AG% $ Incr.
93-94 3,406$ 2.85% 97$ 94-95 3,503$ 3.50% 123$ 95-96 3,626$ 3.30% 120$ 96-97 3,746$ 3.50% 131$ 97-98 3,877$ 3.50% 136$ 98-99* 4,013$ 3.00% 158$ 99-00 4,171$ 4.00% 167$ 00-01 4,338$ 4.00% 174$ 01-02 4,512$ 4.00% 180$ 02-03 4,692$ ????03-04* Adjusted for $38 G&T
State Cost AG% $ Incr.
93-94 3,406$ 2.85% 97$ 94-95 3,503$ 3.50% 123$ 95-96 3,626$ 3.30% 120$ 96-97 3,746$ 3.50% 131$ 97-98 3,877$ 3.50% 136$ 98-99* 4,013$ 3.00% 158$ 99-00 4,171$ 4.00% 167$ 00-01 4,338$ 4.00% 174$ 01-02 4,512$ 0.00% -$ 02-03 4,512$ 1.00% 45$ 03-04 4,557$
* Adjusted for $38 G&T
We planned on this! Right now itlooks this!!!
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Why is Allowable Growth Important?
ACTUAL AG 4% AG 1% AG 0%2001-02 2002-03 2002-03 2002-03
Allowable Growth Increase 180$ 45$ -$
DCPP * 4,512$ 4,692$ 4,557$ 4,512$ x
Budget Enrollment 8,732.6 8,853.6 8,853.6 8,853.6 =
Spending Authority 39,401,491$ 41,541,091$ 40,345,855$ 39,947,443$
INCREASE 2,139,600$ 944,364$ 545,952$
Teacher Contract Increase 1,700,000$ 1,700,000$ 1,700,000$
Dollars remaining for all other increases such as
salaries (e.g. secretaries, custodians, bus drivers, principals),
benefits (e.g. medical insurance, FICA, etc.), supplies, utilities, fuel,
books, etc. 439,600$ (755,636) (1,154,048)
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Why is this IMPORTANT?This is really serious! I hope parents and staff understand the significance that theallowable growth rate has in determiningthe district’s ability to maintainCURRENT programs and services forstudents.
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District’s Cost Per Pupil
The District’s Cost Per Pupil, DCPP, is the same as the state cost per pupil.
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State Cost Per Pupil Analysis
53% of the districts have a DCPP HIGHER than the state cost per pupil! There is no way for WDMCSD to be higher than the state minimum.
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Cost Per Pupil Comparisons
$4,400
$4,450
$4,500
$4,550
$4,600
$4,650
$4,700
Cost Per Pupil
JohnstonAnkenySE PolkDes MoinesUrbandaleWest Des MoinesMaximum
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What if WDMCSD DCPP was the….?
Same as Des Moines
WDMCSD would receive an additional $68 per student (spending authority and money) or $593,818 for FY02
Same as State Maximum
WDMCSD
would receive an additional $175 (spending authority and money) per student or $1,528,205 for FY02.
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Regular Program Calculation
2000-01 2001-02 2002-03
BudgetEnrollment 8,680.3 8,732.6 8,853.6
DCPP $4,338 $4,512 $4,512
RegularProgram $37,653,753 $39,401,491 ?
Dollar Increase $1,391,913 $1,747,738 ?
% Increase 3.84% 4.64% ?%
What willthis number
be?
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Instructional Support Program Levy (ISP)
Local district has the ability to generate up to 10% of the Regular Program in spending authority.
Funding is a combination of property taxes and state aid which counts as miscellaneous income.
Total state dollars have been capped since inception of the ISP. So as more districts approve an ISP, there are fewer state dollars for each district.
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Instructional Support Program Levy (ISP)
POSSIBLE SOLUTION: Legislation which would give the district full spending authority for state share with money coming from local taxpayers or FULL STATE FUNDING.
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Spending Authority
How is it calculated?
Line numbers refer to Aid & Levy Worksheet
Pupil CountCost per
PupilRegular Program (Line 5.1) 8732.6 4,512$ 39,401,491$ Supplemental Weighting (Line 5.3) 57.187 4,512$ 258,028$ Special Education weighting (Line 5.4) 794.84 4,512$ 3,586,318$ AEA Special Ed support (Line 5.5) 9527.44 190.39$ 1,813,929$ AEA media services (Line 5.7) 10177 36.79$ 374,412$ AEA ed services (Line 5.8) 10177 40.30$ 410,133$ AEA prorata reduction (Line 5.9) (127,770)$ Dropout-Allowable Growth (Line 5.10) 837,764$ SBRC-Allowable Growth #1 (Line 5.11) 545,952$ SBRC-Allowable Growth #2 (Line 5.12) -$ Instructional Support Program (Line 10.27) 3,592,692$ Current year's Spec. Ed deficit 200,000$ Current year's Miscellaneous Income 6,021,191$ TOTAL OF ALL ITEMS ABOVE EQUALSTOTAL SPENDING AUTHORITY (without previous year's unspent balance) 56,914,140$
Increase over previous year 3.96%
TOTAL EXPENDITURES 57,207,995$ Increase over previous year 6.73%
Excess/(Deficiency) (293,855)$
Unspent Balance (Cumulative unused spending authority from previous years)
Beginning of Year 9,168,406$ End of Year 8,874,551$
2001-02
For those who want the more technical calculation..
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Fund Balance
Assumes $902,000 reduction state aid
Use Aid & Levy Lines for Expected Use CAR for ACTUALS
EXPECTED EstimateProperty Tax-District Cost (Line 15.3) 22,909,579$ 22,878,294$ Property Tax-Instruct. Supt.- (Line 15.4) 3,364,887$ 3,364,887$ Property Tax-Cash Res. (Lines 15.9+15.10) 300,000$ 300,000$ State Aid to District (Line 16.9 + M&E) 20,946,247$ 20,085,804$ State Aid to AEA (Line 16.8) 2,470,704$ 2,470,704$ State Aid-Instruct. Supt (Line 10.24) 227,805$ 227,805$
SBRC On-time Funding -$ -$
Miscellaneous Income 6,021,191$ 6,021,191$ AdjustmentsTOTAL REVENUE 56,240,413$ 55,348,685$
-1.80% -3.16%
PROJECTED EXPENDITURES 57,207,995$ 57,207,995$ 6.73% 6.73%
Excess/(Deficiency) (967,582)$ (1,859,310)$
Fund Balance Beginning of Year 12,668,585$ 11,661,151$ End of Year 11,701,003$ 9,801,841$
2001-02This is for the
accounting folks.Too technical? Justgo to the next slide.
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Authority FundBeginning Balance 8,687,258$ 9,614,548$
Annual Authority/Revenue 57,993,418$ 58,489,177$
ExpendituresSalaries 37,130,481$ 37,130,481$
Benefits 9,578,946$ 9,578,946$
Services 5,612,161$ 5,612,161$
Supplies 4,664,599$ 4,664,599$
Equipment 599,524$ 599,524$
Other 32,296$ 32,296$
AEA/Transfers 2,970,704$ 2,970,704$
TOTAL 60,588,712$ 60,588,712$
Excess(Deficiency) ($2,595,294) ($2,099,535)
Ending Balance 6,091,964$ 7,515,013$
% of Expenditures 10.1% 12.4%
Projection 0% AG2002-03
One possible scenario for
2002-03
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How can the district increase spending authority?
Higher allowable growth rate
Increase certified enrollment
Increase miscellaneous income
School Budget Review Committee request for unique circumstances
Decrease expenditures
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How can the district increase its cash balance?
Increase the cash reserve levy
Increase miscellaneous income
Decrease expenditures
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Property Valuation History
General, PERL, Management
Fund Valuation % Inc.Dallas
TIF Polk TIF % Inc.
PPEL and Debt Service
ValuationPercent
Increase
01-Jan-01 100% 4,404,297,917$ 7.8% -$ 373,457,003$ 59.4% 4,777,754,920$ 10.6%
Taxable 2,954,384,680$ 1.0% -$ 342,502,293$ 46.2% 3,296,886,973$ 4.3%
01-Jan-00 100% 4,085,502,521$ 2.0% -$ 234,321,659$ 49.2% 4,319,824,180$ 3.8%
Taxable 2,925,201,385$ 2.8% -$ 234,308,589$ 49.6% 3,159,509,974$ 5.3%
01-Jan-99 100% 4,006,234,228$ 7.2% -$ 157,082,649$ 141.1% 4,163,316,877$ 9.5%
Taxable 2,844,945,014$ 4.5% -$ 156,667,349$ 141.0% 3,001,612,363$ 7.6%
01-Jan-98 100% 3,737,875,841$ 5.4% -$ 65,159,550$ -60.6% 3,803,035,391$ 2.4%
Taxable 2,723,358,157$ 7.9% -$ 65,018,540$ -53.3% 2,788,376,697$ 4.7%
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Rollback-What is it?It is the percentage of residential property that is taxed.
Residential Residential100% Valuation $150,000 $150,000times Rollback 0.5444 0.5167
Taxable Valuation 81,665$ 77,505$
Rate per $1,000 13.49 13.49
District Tax Levy 1,102$ 1,046$
less Homestead Credit 65$ 65$
Taxpayer Pays 1,036$ 980$
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Rollback-What’s the difference?
General Fund-Increases state aid necessary PPEL and Debt Service-DECREASES
dollars generated for the district
Residential Residential100% Valuation $150,000 $150,000times Rollback 0.5444 0.5167
Taxable Valuation 81,665$ 77,505$
PPEL rate 1.67 1.67
District Tax Levy 136$ 129$
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Rollback Impact on PPEL
Residential Residential100% Valuation $2,804,732,950 $2,804,732,950times Rollback 0.5444 0.5167
Taxable Valuation 1,526,980,760$ 1,449,205,515$
PPEL rate 1.67 1.67
District Tax Levy 2,550,058$ 2,420,173$
Difference $129,885
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Comparison of Valuations
Comparison of 100%, Taxable and Commercial Valuations
$0
$500,000,000
$1,000,000,000
$1,500,000,000
$2,000,000,000
$2,500,000,000
$3,000,000,000
1995 1996 1997 1998 1999 2000 2001
Assessment year
Valu
ati
on
in
Do
llars
$
100% Residential
Taxable Residential
Commercial
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Property Tax Valuation
January 2001
Ag Land0.1%
Utilities0.7%
Personal Property R.E.0.1%
Industrial1.2%
Ag Buildings0.0%
Residential47.0%
Commercial48.4%
Gas & Electric2.6%
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TAXABLE VALUATION PER PUPIL
85,000
170,000
313,000 320,000
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
LowAverageWDMCSDHigh
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Property Tax versus State Aid
0%10%20%30%40%50%60%70%80%90%
100%
Low Val. Avg. Val. High Val.
AdditionalLevyState Aid
UniformLevy
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How does our tax rate compare?
Polk County School District Tax RatesFY02
DC-Grimes CSD 17.82$ Des Moines ISD 17.14$ Ankeny CSD 17.05$ Carlisle CSD 16.33$ SE Polk CSD 15.13$ Johnston CSD 15.09$ Saydel CSD 14.78$ North Polk CSD 14.63$ Bon-Farrar CSD 14.60$ WEST DES MOINES CSD 13.49$ Urbandale CSD 12.91$
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Tax Rate and Levy for Each Fund
Rate LevyGeneral Fund 9.09$ 26,574,460$ Management 0.72$ 2,100,002$ PPEL regular 0.33$ 1,042,638$ PPEL voted 1.34$ 4,233,743$ PERL 0.14$ 394,902$ Debt Service 1.88$ 5,934,709$
TOTAL 13.49$ 40,280,454$
2000-01
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Miscellaneous Income Examples
Tuition Open
enrollment Bus fees Textbook
fees Earned
interest Rentals Donations
Categorical money
All federal source dollars
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Good stuff to know!!!!!!!
Where is the source of money?
Where does the money go?
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What are the sources of funding for the General Fund?
$0
$5,000,000
$10,000,000
$15,000,000
$20,000,000
$25,000,000
$30,000,000
2000-01
State Aid
Property Taxes
Other-Local
Other-State
AEA
Federal
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What are the sources of funding for the General Fund?
Misc. Income
11%
State Aid39%
Property Tax50%
2000-2001
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Miscellaneous Income
All money that is NOT property tax or state aid.
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Categorical Funding Examples
Phase II/III Class Size
Reduction Student
Achievement and Teacher Quality
Technology Vocational Aid Nonpublic
Technology
Title VI Title I Carl
Perkins Eisenhower STAR Goals 2000 Drug Free E-rate
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Phase II Teacher Payment History
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
96-97 97-98 98-99 99-00 00-01
ActualWith AG
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Can we do more somehow?
Currently, the district is taking advantage of EVERY AVAILABLE source of funding within the Iowa School Foundation Formula.
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Where did the money in the General Fund go?
Central/Non-instr0%
AEA & Transfer5%
Instruction64%
Transport.4%
Bldg. Admin5%
Operations10%
Student/Staff Support
8%
Board/Central Admin
4%
2000-01
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Where did the money in the General Fund go?
Other0%
Salaries63%
Capital Outlay1%
Supplies7%
AEA5%
Benefits15%
Purchased Services
9%
2000-01
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Key Financial Measures
Unspent BalanceFund BalanceFinancial Solvency
Ratio
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Unspent and Fund Balances
Comparison of Unspent Balance and Fund Balance
02000000400000060000008000000
100000001200000014000000
91 92 93 94 95 96 97 98 99 00 01 02est
03est
Budget Year
Unspent Balance Fund Balance
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Unspent and Fund Balances Financial Goals
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
99 00 01 02 03 04
Fiscal Year
Pe
rce
nt
of
Ex
pe
nd
itu
res
Unspent Fund
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Financial Solvency Ratio
General Fund
Unreserved, undesignated fund balance divided by Total Revenues
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Financial Solvency Ratio
16.0%
18.3%
22.4%
18.5%
15.9% 13.6%
12.8%
16.7%
9.9%9.9%
10.8%11.0%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
91 92 93 94 95 96 97 98 99 00 01 02 est
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Good stuff to know!!!!!!!
Long term debt
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Bonded Indebtedness Schedule
$-
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
03 04 05 06 07 08 09 10 11 12
Fiscal Year
Current New
By keeping debtservice level, currentdebt can be paid off
sooner. Provides option for bringing
on new debt ($28 m.)without increasing
taxes.
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Good stuff to know!!!!!!!
Cost efficiencies
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Significant Ways District Maximizes Resources
Maximum Instructional Support Program Levy
Maximum PPEL and PERL levies
K-6 class size policy of 26 and 28
Bus policy (43% ride bus)Minimum number of
attendance centers for number of students
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Financial Comparison
In spite of the funding challenges, the district’s financial condition remains one of the top districts in the state.
Gold Star!!!
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Comprehensive Annual Financial Report (CAFR) - Certificates of Excellence in Financial Reporting
Association of School Business Officials International every year since 1984-85
Government Finance Officers Association every year since 1986-87
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QUESTIONS???
Thank you!