BETHEL SCHOOL DISTRICT

FY 2015-16 BudgetPublic Hearing

7/28/15

1

Transportation Vehicle Fund2

Actual Budget Budget2013-14 2014-15 2015-16

Revenues: State Funding 1,268,018 1,000,000 1,275,000Sale of Equip 1,645Interest 1,458 3,000 1,000Total 1,271,121 1,003,000 1,276,000

Expenditures: Buses 982,254 2,000,000 1,500,000Difference 288,867 (997,000) (224,000)Beginning Balance 1,969,754 1,950,000 1,600,000Ending Balance 2,258,621 953,000 1,376,000

Transportation Vehicle FundSignificant Changes

3

Budget allows for purchase of approximately 19 buses 9 small approximately $60K each 10 regular approximately $100K each

(or 9 propane approximately $120K each)

Budget matches revenue with small contingency

Capital Projects Fund4

Actual Budget Budget2013-14 2014-15 2015-16

Revenues: Property tax 2,362,500 4,410,000State Funding 4,769,126 8,000,000 1,117,161Interest 50,146 30,450 12,450Impact Fees 1,052,142 1,010,000 1,010,000Other 139,774 58,080 15,680Total 6,011,188 11,461,030 6,565,291

Expenditures: Sites 2,773,541 7,830,000 1,886,333Buildings 34,481,860 23,561,000 10,516,250Equipment 497,203 6,919,633 4,198,931Other 5,385 779,628Total 37,757,989 38,310,633 17,381,142

Other financing source 3,520,438Transfer tech levy to GF (363,305) (400,000)Difference (31,746,801) (23,692,470) (11,215,851)Beginning Balance 58,262,459 26,515,658 12,721,204Ending Balance 26,515,658 2,823,188 1,505,353

Capital Projects FundSignificant Changes

5

Technology levy Est $4.4 million collected from $4.5 million

levy Declining state funding

Eligible projects completing

Decreased investment earnings No more bond sales until new authorization

Capital Projects FundList of Projects

6

Maint/Tech Remodel $5,353,750Tech Levy $4,401,059Portables $2,900,000

PreBond Planning $1,375,000Spanaway Elem Demo $1,017,583

Fields $858,750HVAC $575,000

Small Projects $900,000$17,381,142

Debt Service Fund7

Actual Budget Budget2013-14 2014-15 2015-16

Revenues: Property tax 16,758,921 16,309,182 16,200,762Interest 4,339 10,000 3,500BABs payment 225,948 243,478 243,478Sale of Bonds 74,217,974Total 91,207,182 16,562,660 16,447,740

Expenditures: Debt Service 18,274,689 17,510,000 18,751,545Refunding 73,869,999

Difference (937,506) (947,340) (2,303,805)Beginning Balance 5,568,840 3,823,324 3,900,000Ending Balance 4,631,334 2,875,984 1,596,195

Debt Service FundSignificant Changes

8

Flat estimated tax rate ($1.87/thousand)

Assumed Assessed Value increase 3%

Associated Student Body9

Actual Budget Budget2013-14 2014-15 2015-16

Revenues: 1,839,766 4,575,205 4,786,493Expenditures: 1,738,505 4,767,647 4,674,024Difference 101,261 (192,442) 112,469Beginning Balance 1,365,375 1,341,742 1,547,700Ending Balance 1,466,636 1,149,300 1,660,169

Associated Student BodySignificant Changes

10

The ASB Fund budget is comprised of individual budgets by school for the extracurricular benefit of the students.

Clubs and activities can only spend funds on hand.

General Fund11

Actual Budget Budget2013-14 2014-15 2015-16

Revenues: Property tax 31,504,535 35,817,222 40,088,622State funding 129,717,746 138,411,498 153,661,314Federal funding 12,461,119 19,289,563 20,287,258Local & other 4,238,534 4,424,113 4,235,584Total 177,921,934 197,942,396 218,272,778

Expenditures: Reg instruction 92,639,571 103,276,988 113,203,314Special Ed 22,659,793 24,690,179 28,387,244CTE 7,380,734 7,744,339 7,288,534Skills Center 2,209,423 2,337,439 2,766,239Other 10,264,998 18,996,101 19,806,401Support 40,357,559 43,660,174 47,391,337Total 175,512,078 200,705,220 218,843,069

Difference 2,409,856 (2,762,824) (570,291)Beginning Balance 19,148,332 16,500,000 17,250,000Ending Balance 21,558,188 13,737,176 16,679,709

12.3% 6.8% 7.6%

General FundSignificant Changes (Revenues)

12

Increased M&O levy First full year of increased levy of $8.4

million Increased state apportionment

$14.0 million due to increased MSOCs, funding factors

Increased special education funding $1.5 million due to increased MSOCs,

funding factors Increased federal funding

$1.0 million Dept of Defense grant

General FundSignificant Changes (Expenditures)

13

Increased regular instruction Added certificated staff Salary and benefit increases Curriculum adoption

Increased other instructional Salary and benefit increases Increased special services

Increased administration Salary and benefit increases Elementary AAs, Assist Principals

Increased support services Salary and benefit increases Increased HR, warehouse, technology staff Increased insurance, utilities

General FundChanges from 6/23/15 preliminary

14

Estimated Budget6/23/2015 Change 7/28/2015

Revenues: Property tax 40,121,000 (32,378) 40,088,622State funding 151,774,780 1,886,534 153,661,314Federal funding 20,387,258 (100,000) 20,287,258Local & other 4,263,584 (28,000) 4,235,584Total 216,546,622 1,726,156 218,272,778

Expenditures: Reg instruction 112,143,814 1,059,500 113,203,314Special Ed 28,287,244 100,000 28,387,244CTE 7,288,534 0 7,288,534Skills Center 2,766,239 0 2,766,239Other 19,577,440 228,961 19,806,401Support 47,463,837 (72,500) 47,391,337Total 217,527,108 1,315,961 218,843,069

Difference (980,486) 410,195 (570,291)Beginning Balance 17,000,000 250,000 17,250,000Ending Balance 16,019,514 660,195 16,679,709

7.4% 50.2% 7.6%

General FundSignificant Changes (from 6/23/15)

15

Increase in apportionment Additional state ADK schools (all except Elk Plain) Increased health care allocation ($780 from

$768) Funding for reduced K-3 class sizes

Increase in regular instruction Added elementary teachers to reduce class size Increased health care contributions

Increase in other instruction Increased health care contributions

General FundEnding Fund Balance

16

Actual Budget Budget2013-14 2014-15 2015-16

Restricted Art Crate Field 1,200,000 1,200,000 0Child Nutrition 187,607 200,000PCSC 302,971 200,000 500,000Grants 669,747 50,000 450,000Debt Service 2,102,365 190,000 2,811,075Total Restricted 4,462,690 1,640,000 3,961,075

Nonspendable Inventory 500,000 500,000 500,000Assigned System failure 3,000,000 3,000,000 3,000,000

School carryovers 400,000 0 700,000Curriculum 2,000,000 800,000 1,000,000Renovations 4,000,000 3,000,000 3,000,000Portables 2,000,000Art Crate Field 500,000Total Assigned 11,900,000 6,800,000 7,700,000

Unrestricted, unassigned 4,695,498 4,797,176 4,518,634Total ending fund balance 21,558,188 13,737,176 16,679,709

Ending Fund BalanceSignificant Changes

17

$1.6 million increase of Restricted Balance Art Crate field contribution transferred to CPF Added laptop lease liability, comp absences liability

$0.9 million increase of Assigned Balance $0.7 million budgeted school carryover funds $0.2 million increase budgeted curriculum adoption

Ending fund balance at 7.6% of expenditures