new cedar falls community school district 2011-12 budget … · 2020. 6. 20. · state foundation...

2018/19 Budget Presentation

CEDAR FALLS COMMUNITY SCHOOL DISTRICT

GOALS & PRINCIPALS OF IOWA SCHOOL’S FOUNDATION FORMULA (GENERAL FUND)

Equity in expenditures Property tax relief Equalization of method of

taxation Uniform state aid

allocation formula Predictable

Pupil-driven Provide for local

discretion and incentives ESTABLISHES MAXIMUM

SPENDING CONTROL Same formula for all Iowa

K-12 public schools and AEA’s

FOUR KEY FACTORS IOWA PUBLIC SCHOOL FOUNDATION FORMULA

1. Enrollment Number of students enrolled on October 1st determines budget and spending

authority for the following school year 2. Equalization Legislature established a law that “cost per student” across the state will be nearly

equal to ensure every student equal access to a quality education 3. Supplemental State Aid Growth (SSA) Legislature & Governor control the annual increase in dollars available per student State foundation formula sets the expenditure ceiling for each school district’s

total spending authority and tells the school district how to fund its spending authority.

4. Balance The ratio of property tax & state aid supporting a district’s budget varies by

district. Districts with a higher “assessed valuation per student” will receive less state aid.

Iowa Code Chapter 257.1(2) “... each school district in the state is entitled to receive foundation

aid, in an amount per pupil equal to the difference between the amount per pupil of foundation property tax in the district, and the combined foundation base per pupil or the combined district cost per pupil, whichever is less.

IOWA PUBLIC SCHOOL FOUNDATION PROGRAM - STATE AID

Aid & Levy Budget Worksheet Implements the school foundation aid formula Calculates the amount of spending authority, state aid and property

taxes for a school district Formula first determines the total maximum spending authority Determines state aid vs. property taxes

GENERAL FUND BUDGET DETERMINATION

4,442.9 4,489.3

4,741.4 4,738.1 4,799.3 4,951.1

5,051.2 5,027.9

311.8 292.1

121.0 121.0 108.0

101.0 95.6 99.6

3,800

4,000

4,200

4,400

4,600

4,800

5,000

5,200

Oct-10 Oct-11 Oct-12 Oct-13 Oct-14 Oct-15 Oct-16 Oct-17

Stud

ent

CF OE Out

CERTIFIED ENROLLMENT SECTION 1

4,754.7 4,781.4 4,862.4 4,859.1 4,907.3 5,052.1 5,146.8 5,127.5

8.51% 8.08% 7.22% 6.58% 5.89% 5.72% 5.67% 5.62%

3.11% 2.71%

2.90% 2.88%

3.21% 3.06% 2.99% 3.27%

1.47% 1.36%

1.31% 1.47% 1.35% 1.57% 2.08% 2.02%

0%

2%

4%

6%

8%

10%

12%

14%

Oct 10 Oct 11 Oct 12 Oct 13 Oct 14 Oct 15 Oct 16 Oct 17L1 L2 L3

SPECIAL ED ENROLLMENT BY PERCENTAGE SECTION 3

0.00%

1.00%

2.00%

3.00%

4.00%

5.00%

6.00%

7.00%

8.00%

Fy12 Fy13 Fy14 Fy15 Fy16 Fy17 FY18 FY19Cedar Falls CF w/o PLS State

HISTORY OF SUPPLEMENTAL STATE AID IN PERCENTAGE

State Rank

School District 2017/18 RPDC 2017/18 RPDC/P

10/1/17 Count

2018/19 RPDC Dollar Growth % Growth

Per Pupil Growth

Enrollment Increase

12 Linn-Mar $48,737,813 $6,665 7,436.2 $50,060,498 $ 1,322,685 2.71% $ 177.87 123.7

13 Johnston $45,942,949 $6,664 7,074.1 $47,615,767 $ 1,672,818 3.64% $ 236.47 179.9

14 Southeast Polk $45,296,541 $6,664 6,843.1 $46,060,906 $ 764,365 1.69% $ 110.70 45.9

15 Marshalltown $36,443,016 $6,705 5,458.4 $36,964,285 $ 521,268 1.43% $ 94.50 23.2

16 College $33,897,102 $6,664 5,162.7 $34,750,134 $ 853,032 2.52% $ 165.23 76.1

17 Cedar Falls* $34,334,303 $6,671 5,127.5 $34,549,095 $ 343,343 1.00% $ 66.96 (19.3)

18 Muscatine* $34,416,225 $6,664 4,935.8 $34,219,920 $ (196,305) (0.57)% $ (39.77) (148.4)

19 Pleasant Valley $32,255,164 $6,797 4,922.4 $33,787,354 $ 1,532,190 4.75% $ 311.27 176.9

20 Ottumwa* $30,942,285 $6,664 4,612.2 $31,251,708 $ 309,423 1.00% $ 67.09 (31.0)

21 Ames $28,285,752 $6,754 4,299.8 $29,328,936 $ 1,043,936 3.69% $ 242.79 111.8

22 Burlington* $29,673,177 $6,664 4,263.3 $29,767,602 $ 94,425 0.32% $ 22.15 (159.4)

SSA COMPARISON - SIMILAR SIZED SCHOOLS

* = Indicates budget guarantee for FY19

238.3

318.0

41.6

137.3

215.3

75.4

-234.2

390.6

-10.7

118.6

-194.2 -250.0-200.0-150.0-100.0

-50.00.0

50.0100.0150.0200.0250.0300.0350.0400.0450.0

Stud

ents

S IMILAR SIZED SCHOOLS

THREE YEAR CUMULATIVE CHANGE CERTIFIED ENROLLMENT

Oct. 2015, 2016 & 2017 certified enrollment count

$1,329,457

$1,651,701

$1,096,320

$677,142

$1,266,181

$1,003,937

-$47,585

$1,646,666

$537,936 $547,679

-$14,506 -$200,000

$0

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

$1,800,000

SIMILAR SIZED SCHOOLS THREE YEAR AVERAGE INCREASE

SUPPLEMENTAL STATE AID

Included any budget guarantee funds received

FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19TIF $228,952,490 $238,279,052 $69,938,785 $262,029,070 $255,379,885 268,498,450 $155,010,642 $133,875,589Regular $1,394,788,675 $1,539,679,334 $1,765,749,164 $1,620,002,240 $1,646,442,620 1,705,405,959 $1,881,942,714 $1,952,212,278

$0.0

$0.5

$1.0

$1.5

$2.0

$2.5

Billi

ons

CEDAR FALLS CSD HISTORY OF ASSESSED VALUATION

SECTION 6

Used by cities/counties/community colleges since 1958 City/county adopt urban renewal plans Community Colleges job training projects

City/county adopts an ordinance to initiate Tax Increment Financing Establishes a base valuation at the prior years’ taxable valuation level Increased value of TIF area is incremental valuation Revenue on base valuation goes to all taxing authorities Revenue on incremental valuation goes to TIF project with some

exceptions

TAX INCREMENT FINANCING BASICS

$260,000

$280,000

$300,000

$320,000

$340,000

$360,000

$380,000

$400,000

Fy11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19Cedar Falls State Median Avg

ASSESSED VALUATION PER STUDENT

65.27% 74.27% 76.21% 77.13% 73.70% 71.80%

1.21%

1.35% 1.36% 1.29% 1.21% 1.17%

32.64% 23.44% 21.66% 16.84% 21.01% 22.03%

4.02% 3.31% 4.28% 0.89% 0.95% 0.77% 0.65% 0.78% 0.73%

20%

30%

40%

50%

60%

70%

80%

90%

100%

2013/14 2014/15 2015/16 2016/17 2017/18 2018/19Residential Ag land & bldgs Comm./Indust. Multi-residential RR/Utility/Other

NET ASSESSED VALUATION BY CLASS

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

Cedar Falls Dike-NH Hudson Janesville Waterloo Waverly-SR State Avg

2017/18 VALUATION PER STUDENT – AREA SCHOOL COMPARISON

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

Cedar Falls Dike-NH Hudson Janesville Waterloo Waverly-SR State AvgFY16 FY17 FY18

VALUATION PER STUDENT AREA SCHOOL 3 YR. COMPARISON

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000

$500,000

$550,000

$600,000

Linn-Mar Johnston SE Polk M'town College Cedar Falls Muscatine PleasantValley

Ottumwa Ames Burlington

2017/18 VALUATION PER STUDENT SIMILAR SIZE SCHOOL COMPARISON

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000

$500,000

$550,000

$600,000



FY16 FY17 FY18

VALUATION PER STUDENT SIMILAR SIZE SCHOOL 3 YR. COMPARISON

12.82% $ 864 per Student

Additional Levy Combined District Cost – Foundation Dollar Level

62.08% $4,183 per Student

State Foundation Aid = Foundation Dollar Level – Uniform Levy Foundation dollar cost per pupil as set by the State of Iowa x Weighted Enrollment - Uniform Levy

+ SSA Prop Tax Replacement Payment

25.10% $1,691 per Student

Uniform Levy = $5.40 per $1,000 assessed valuation x school district assessed valuation

2018/19 COMBINED DISTRICT COST – $6,738 PER STUDENT

$5,890 $6,008

$6,128

$6,373 $6,453 $6,598 $6,671 $6,738

$4,000

$4,500

$5,000

$5,500

$6,000

$6,500

$7,000

FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19

HISTORY OF COST PER PUPIL

37.16% 38.20% 40.65%

37.92% 36.63% 36.07% 37.18% 37.92%

62.84% 61.80% 59.35%

63.08% 63.37% 63.93% 62.82% 62.08%

0%

10%

20%

30%

40%

50%

60%

70%

FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19Property Tax State Aid

HISTORICAL COMBINED DISTRICT COST MIX

Aid & Levy budget worksheet Uniform Levy (Section 6) Property Tax Portion = $10,413,395 (Ln 6.3 – Ln 5.2)

Property Tax Rate = $5.40000

Regular Program Adjustment (101% guarantee) Property Tax Portion = $128,551 (Ln 5.2)


Final State Foundation Aid (Section 9) Regular Program = $31,359,887 (Ln 9.12 – Ln 9.11)

Includes TSS, PD, TLC, Early Intervention & Property Tax Replacement Payment (PTRP)

COMBINED DISTRICT COST FUNDING

Additional Levy (Section 8 minus Section 13) Gross Property Tax Additional Levy (Ln 8.4) $6,922,399 Utility Replacement Adjustment (Ln 8.38) - 37,428 AEA Statewide Reduction (Ln 8.41) + 66,618 Property Tax Replacement Payment (Ln 8.42) - 543,105 Add. Levy Utility Replacement Adjust (Ln 13.5) + 219 Add. Levy C & I State Replacement (Ln 13.21) - 169,569 Dropout Prevention Program (Ln 5.17) - 855,139 Net Additional Levy $5,383,995


COMBINED DISTRICT COST FUNDING

Uniform and Additional Levy Property Tax Portion = $15,797,390 Property Tax Rate = $8.09204

Regular program adjustment (101% guarantee) Property Tax Portion = $128,551 Property Tax Rate = $0.06585

Dropout Prevention (approved by BOE on Nov. 27, 2017) Property Tax Portion = $855,139 Property Tax Rate = $0.43804

Totals Property Tax Portion = $16,781,080 Property Tax Rate = $8.59593

COMBINED DISTRICT COST SUMMARY

$8.24

$9.74 $10.20

$8.42

$10.68

$8.67 $9.04

$0.00

$2.00

$4.00

$6.00

$8.00

$10.00

$12.00

Cedar Falls Dike-NH Hudson Janesville Waterloo Waverly-SR State Avg

2017/18 COMBINED DISTRICT COST – TAX RATE COMPARISON

Includes Drop Out Prevention Funding.

$9.65

$9.29

$10.19

$10.65

$8.71 $8.60

$10.35

$9.43

$9.89

$7.70

$10.53

$7.00

$7.50

$8.00

$8.50

$9.00

$9.50

$10.00

$10.50

$11.00

Linn-Mar Johnston SE Polk M'town College CedarFalls

Muscatine PleasantValley


2017/18 COMBINED DISTRICT COST – SIMILAR SIZE SCHOOL COMPARISON

Includes Drop Out Prevention Funding

$12.28 $13.21 $14.63 $13.71 $13.90 $14.35

$15.35 $15.80

$0.13

$0.57 $0.66

$0.66 $0.74 $0.74 $0.77

$0.83 $0.86

$4

$6

$8

$10

$12

$14

$16

$18


Mill

ions

CDC Budget Guarantee Dropout

HISTORY OF COMBINED DISTRICT COST & DROPOUT PROPERTY TAX REVENUE

$8.80728 $8.58129 $8.23849 $8.46096 $8.40597 $8.41638 $8.15828 $8.09204

$0.06585

$0.40703 $0.43082 $0.37572 $0.45951 $0.44868 $0.45329 $0.44004 $0.43804

$0.00

$1.00

$2.00

$3.00

$4.00

$5.00

$6.00

$7.00

$8.00

$9.00

$10.00

FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19CDC Budget Guarantee Dropout

HISTORY OF COMBINED DISTRICT COST & DROPOUT PROPERTY TAX RATES

Included with General Fund for reporting to Dept. of Education 10 year levy approved by voters of District (Thru FY2022) 10% of regular district program cost ( L n 10 . 5 ) $3,467,765 Less gross ISL State Aid (22.72% of total) - $ 787,876 Net Property Tax $2,679,889 Instructional Support State Aid + $ 0 (0% of Gross State Aid)

Total Adjusted ISL Dollars = $2,679,889 Less anticipated actual ISL State Aid - $ 0 Anticipated Actual ISL Dollars = $2,679,889 Property tax rate of $1.28465/$1,000

INSTRUCTIONAL SUPPORT LEVY SECTION 10

$2.15 $2.23

$2.37 $2.40 $2.45 $2.55

$2.66 $2.68

$1.0

$1.2

$1.4

$1.6

$1.8

$2.0

$2.2

$2.4

$2.6

$2.8


Mill

ions

HISTORY OF INSTRUCTIONAL SUPPORT LEVY

PROPERTY TAX REVENUE

$1.5354 $1.4512

$1.2927 $1.2749 $1.2856 $1.2915 $1.3053 $1.2847

$0.00

$0.20

$0.40

$0.60

$0.80

$1.00

$1.20

$1.40

$1.60

$1.80


HISTORY OF INSTRUCTIONAL SUPPORT LEVY PROPERTY TAX RATES

SBRC Approved Requests Increased enrollment, open enrollment out, LEP excess cost $125,229 – Open enrollment out increase - approved by BOE on Oct. 23, 2017 $ 11,740 – ELL beyond 5 years - approved by BOE on Oct. 23, 2017 $100,596 – LEP allowable excess cost - approved by BOE on Oct. 9, 2017

Special Education $972,951 – Special Ed excess cost - approved by BOE on Oct. 9, 2017

Total SBRC #1 approved requests - $1,210,516

CASH RESERVE LEVY – PART ONE SECTION 15

Other Cash flow needs $ 600,000 Other SBRC approved requests $ 0 Total request for FY19 $ 600,000

CASH RESERVE LEVY – PART TWO SECTION 15

SBRC Approved/Requested $1,210,516 Other Requests (Cash Flow) $ 600,000 Total Cash Reserve Levy $1,810,516

Property Tax Rate of $0.92742

CASH RESERVE LEVY – SUMMARY SECTION 15

$0.38

$1.15

$1.75

$0.79

$0.31

$1.10

$1.54 $1.21

$0.87

$0.22

$0.00

$0.20

$0.20

$0.00

$0.60

$0.60

$0.0

$0.5

$1.0

$1.5

$2.0

$2.5


Mill

ions

SBRC Cash Flow

HISTORY OF SBRC CASH RESERVE LEVY TAX REVENUE

$0.2757

$0.7459 $0.9935

$0.4870 $0.1908

$0.6453 $0.8209

$0.6201

$1.2597 $0.1416

$0.0000

$0.1235

$0.1215

$0.0000

$0.3181

$0.3074

$0.00

$0.20

$0.40

$0.60

$0.80

$1.00

$1.20

$1.40

$1.60

$1.80

FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19SBRC Cash Flow/Other

HISTORY OF CASH RESERVE LEVY TAX RATES

Total General Fund Request Dollars Tax Rate

Comb. District Cost $15,797,390 8.19204 Budget Guarantee $ 128,551 0.06585 Dropout $ 855,139 0.43804 Instructional Support $ 2,679,889 1.28465 Cash Reserve Levy $ 1,810,516 0.92742

Totals $ 21,271,185 10.80800

GENERAL FUND SUMMARY SECTION 15

$16.25

$17.48

$19.34

$17.84 $17.54

$18.78

$20.98 $21.27

$10

$12

$14

$16

$18

$20

$22


Mill

ions

HISTORY OF OPERATING FUND PROPERTY TAX REVENUE

$11.65

$11.35

$10.90 $10.81

$10.45

$10.81

$11.04

$10.81

$10.00

$10.20

$10.40

$10.60

$10.80

$11.00

$11.20

$11.40

$11.60

$11.80

$12.00


HISTORY OF OPERATING FUND PROPERTY TAX RATES

Beginning in FY2015, commercial & industrial property valuations are being reduced through rollback. Rollback was 95% in FY2015 and 90% beginning in FY2016. State of Iowa is reimbursing local governments and school districts for the loss of property tax receipts.

Beginning in FY2018, commercial and industrial replacement payments paid by the State of Iowa becomes limited by the total amount of payments made in FY2017.

District is estimating a 95% prorated payment from Fy2018 amounts.

COMMERCIAL & INDUSTRIAL (C & I) STATE REPLACEMENT ESTIMATE

C & I Non-TIF 100% valuation $483,273,870 C & I Non-TIF taxable valuation -$429,999,239 Est. Non-TIF valuation reduction (GF/Mgt. Fund) $ 53,274,631

C & I TIF 100% valuation $140,250,834 C & I TIF taxable valuation -$131,172,997 Est. TIF valuation reduction $ 9,077,837 Est. combined valuation reduction (Debt/PPEL/ISL) $ 62,352,468

Est. General Fund C & I replacement ($53,274,631 / 1,000) * 9.52335 (tax rate) $507,353 x 0.95 = $481,985

Est. Inst. Support Levy C & I replacement ($62,352,468 / 1,000) * 1.28465 (tax rate) $ 80,101 x 0.95 = $ 76,096

CFCSD COMMERCIAL & INDUSTRIAL (C & I) STATE REPLACEMENT ESTIMATE

$436,594

$38,000

$30,000

$34,585

$75,000

$100,800

$2,631,043

$0 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000

Misc. Other

Pools

Facilities

Rentals

Interest

Sp Ed Tuition

OE Tuition

GENERAL FUND – PROJECTED OTHER LOCAL REVENUE

$231,164

$0

$558,081

$2,557,938

$2,916,266

$346,260

$345,594

$1,674,129

$468,152

$23,519,700

$0 $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000

Misc. Other

ISL

C&I Repl.

AEA Flow Thru

TSS

PD

Early Intervention

TLC

4 yr old Pre Sch

CDC

GENERAL FUND – PROJECTED STATE REVENUE

State CDC includes Property Tax Replacement Payment (PTRP)

$11,540

$22,426

$41,840

$975,000

$147,883

$236,498

$95,897

$400,000

$- $200,000 $400,000 $600,000 $800,000 $1,000,000

Misc. Other

Perkins

TAP

Medicaid

Head Start

Part B

Title IIA

Title I

GENERAL FUND – PROJECTED FEDERAL REVENUE

Federal, $1,931,084, 3.26%

Local, $24,688,007, 41.67%

State, $32,620,412, 55.07%

TOTAL 2018/19 GENERAL FUND REVENUE

Due to rounding, percentages may not equal 100.00%

Restricted fund Board of Education Controlled Used for property/liability/auto/workman compensation/etc. insurance

premiums Property loss deductible Early severance benefits

Amount requested for 2018/19 $600,000 Property tax rate of $0.30734/$1,000

Est. Management Fund C & I replacement ($53,274,631 / 1,000) * 0.30734 (tax rate) * 0.95 = $15,555

MANAGEMENT FUND

$650

$550

$450 $500

$530 $500

$698

$600

$0

$100

$200

$300

$400

$500

$600

$700

$800


Thou

sand

s HISTORY OF MANAGEMENT FUND PROPERTY TAX

REVENUE

$0.46602

$0.35722

$0.25485

$0.30864 $0.32191 $0.29319

$0.37196

$0.30734

$0.00

$0.05

$0.10

$0.15

$0.20

$0.25

$0.30

$0.35

$0.40

$0.45

$0.50


Per T

hous

and

HISTORY OF MANAGEMENT FUND PROPERTY TAX RATE

Restricted fund with two parts Board of Education controlled – up to $0.33/$1,000 (regular) Voters approved renewal of additional $1.34/$1,000 levy for 10 years on

December 6, 2016. Levy now expires June 30, 2028 (voted). Can be used for: Purchase or improvement of grounds Construction, repairing or remodeling of schoolhouses or roads to schoolhouses

including debt for same Purchase or lease of equipment greater that $500 per unit Purchasing of “bundled” equipment and technology greater than $500

Purchase or lease of school buses or other vehicles Leasing or renting of facilities

PHYSICAL PLANT & EQUIPMENT LEVY (PPEL)

PPEL Fund Amount requested for 2018/19 $688,409 (regular) & $2,795,358 (voted) = $3,483,767 Property tax rate of $1.67/$1,000

Est. PPEL C & I replacement ($62,352,468 / 1,000) * 1.67 (tax rate) *0.95 = $98,922

PHYSICAL PLANT & EQUIPMENT LEVY (PPEL)

$0.54 $0.59 $0.61 $0.62 $0.63 $0.65 $0.67 $0.69

$2.18 $2.38 $2.46 $2.52 $2.55 $2.65 $2.73 $2.80

$0.0

$0.5

$1.0

$1.5

$2.0

$2.5

$3.0

$3.5

$4.0


Mill

ions

Regular Voted

HISTORY OF PHYSICAL PLANT & EQUIPMENT LEVY (PPEL) PROPERTY TAX REVENUE

$0.33 $0.33 $0.33 $0.33 $0.33 $0.33 $0.33 $0.33

$1.34 $1.34 $1.34 $1.34 $1.34 $1.34 $1.34 1.34

$0.00

$0.20

$0.40

$0.60

$0.80

$1.00

$1.20

$1.40

$1.60

$1.80

FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19Regular Voted

HISTORY OF PHYSICAL PLANT & EQUIPMENT LEVY (PPEL) PROPERTY TAX RATES

Restricted fund Used to pay interest as it becomes due and the amount necessary to pay the

principal when due on bonds or other authorized indebtedness issued by the district, and to make payments required under a loan, lease-purchase agreement, or other evidence of indebtedness authorized by this code. (298A.10)

$32 million bond – Voter approved on April 5, 2016 Bonds sold February 7, 2017 – 19 years at 3.0785%

Amount requested for 2018/19 $2,423,200 Property tax rate of $1.16160/$1,000

Est. Debt Service Levy C & I replacement ($62,352,468 / 1,000) * 1.16160 (tax rate) * 0.95 = $68,807

DEBT SERVICE LEVY

$0.000 $0.000 $0.000 $0.000 $0.000 $0.000

$2.420 $2.423

$0.0

$0.5

$1.0

$1.5

$2.0

$2.5

$3.0


Mill

ions

HISTORY OF DEBT SERVICE LEVY PROPERTY TAX REVENUE

$0.00000 $0.00000 $0.00000 $0.00000 $0.00000 $0.00000

$1.18791 $1.16160

$0.00

$0.20

$0.40

$0.60

$0.80

$1.00

$1.20

$1.40


Per T

hous

and

HISTORY OF DEBT SERVICE LEVY PROPERTY TAX RATE

Combined Distr ict Cost $15,797,390 Budget Guarantee $ 128,551 Dropout Prevention $ 855,139 Cash Res. Levy - SBRC $ 1 ,210,516 Cash Res. Levy - Other $ 600,000 Sub-Total – General Fund $18,591,596 $ 9.52335

Instruct ional Support Levy $ 2,679,889 $ 1 .28465 Management Fund $ 600,000 $ 0.30734 Voted PPEL Levy $ 2,795,358 $ 1 .34000 Regular PPEL Levy $ 688,409 $ 0.33000 Debt Service Levy $ 2,423,200 $ 1 .16160 Total $27,778,452 $13.94694

SUMMARY

$13.79 $13.38

$12.83 $12.78 $12.44

$12.77

$14.27 $13.95

$13.08 $12.79

$8

$9

$10

$11

$12

$13

$14

$15

FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19Total w/o Debt Service

TOTAL PROPERTY TAX RATE HISTORY

Dropout Prevention 3.08%

Budget Guarantee 0.46%

Instructional Support 9.65%

Cash Reserve Levy 6.52%

Management Fund 2.16%

PPEL - Regular 2.48% PPEL - Voted

10.06%

Combined District Cost 56.87%

Debt Service 8.72%

2018/19 PROPERTY TAX BREAKDOWN


Voted PPEL, Inst. Sup. & Debt Serv.

28.43%

DRP, CR, Mgt, Reg. PPEL, Guarantee

14.70%

Combined District Cost 56.87%

2018/19 PROPERTY TAX BREAKDOWN


0%

10%

20%

30%

40%

50%

60%

70%

CDC Bgt Guar Dropout Inst Sup Cash Res Mgt R PPEL V PPEL Debt Serv2015/16 2016/17 2017/18 2018/19

TAX LEVY HISTORY BY PERCENTAGE

$7.00

$8.00

$9.00

$10.00

$11.00

$12.00

$13.00

$14.00

$15.00

2017/18 2018/19

Per T

hous

and

DebtV PPELR PPELMgtCash ResISLDropoutCDC w/ Guarantee

2017/18 $14.27271/$1,000 2017/18 $13.94894/$1,000 Change - $ 0.32377/$1,000

PROPERTY TAX RATE COMPARISON

$10

$12

$14

$16

$18

$20

$22

$24

$26

$28

2017/18 2018/19

Mill

ions

DebtV PPELR PPELMgtCash ResISLDropoutCDC w/ Guarantee

2017/18 $27,505,897 2018/19 $27,778,442 Change +$ 272,545

PROPERTY TAX REVENUE COMPARISON

$3,483

$65,831

$16,214

-$98,427

-$333,152

$19,322

$26,990

$572,284

-$500,000 -$300,000 -$100,000 $100,000 $300,000 $500,000 $700,000

Debt Serv

V PPEL

R PPEL

Mgt

Cash Res

ISL

Dropout

CDC w/ Guarantee

2017/18 PROPERTY TAX REVENUE CHANGE

$13.28 $12.66 $13.46 $15.69

$12.73 $11.04 $12.22 $11.88

$13.59

$8.56

$12.82

$4.09 $5.66 $6.03 $2.26

$3.91

$3.23 $2.70 $2.07

$1.07

$5.78

$3.03

$0.00

$2.00

$4.00

$6.00

$8.00

$10.00

$12.00

$14.00

$16.00

$18.00

$20.00



Gen Fund All Other Funds

2017/18 TOTAL TAX RATE SIMILAR SIZE SCHOOL COMPARISON

Iowa Code 441.21 Adjustments in value to comply with state law that allows no more than a 4%

increase in taxable value from year to year for all classes of property, except utility property which has a maximum increase of 8% per year. Rate adjustment determined by Iowa Department of Revenue. Rate adjustment is the same for all counties in Iowa.

ASSESSMENT & VALUATION OF PROPERTY ASSESSMENT LIMITATIONS ORDER (ROLLBACK)

40%

42%

44%

46%

48%

50%

52%

54%

56%

58%

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

RESIDENTIAL ROLLBACK HISTORY

Assessment Yr.

Fiscal Yr. F2010 F2011 F2012 F2013 F2014 F2015 F2016 F2017 F2017 F2019

2017/18 2018/19

Prop. Value $100,000 $100,000 Rollback x 0.569391 0.556209 Tax Rate x 0.01427271 0.01394694 Gross Tax = $ 812.68 $ 775,74 Est. Homestead - $ 66.96 $ 66.96 Net Tax = $ 745.72 $ 708.78

Change w/o Debt Service $ - 33.91 Debt Service $ - 3.03 Total Change $ - 36.94

PROJECTED RESIDENTIAL PROPERTY TAX

Property Value 2017/18 2018/19 Change $100,000 $ 745.72 $ 708.78 - $ 36.94 $200,000 $1,558.39 $1,484.52 - $ 73.87 $300,000 $2,371.07 $2,260.26 - $110.81

PROJECTED RESIDENTIAL PROPERTY TAX

Districts eligible for the regular program budget adjustment (101% guarantee) must adopt a resolution.

Copy of resolution (board minutes) due to Department of Management no later than April 15th.

Resolution “If necessary, the Board of Education of the Cedar Falls Community School

District, will levy property tax for fiscal year 2018-2019 for the regular program budget adjustment as allowed under section 257.14, Code of Iowa.”

BUDGET ADJUSTMENT (GUARANTEE) RESOLUTION

March 26, 2018 – Establish Proposed Budget March 28, 2018 – Publish Proposed Budget April 9, 2018 – Public Hearing & Adoption of Budget April 16, 2018 – File Budget with County Auditor

2018/19 BUDGET TIMELINES

Iowa Code Section 24.9 Budget estimates adopted and certified in accordance with this chapter may

be amended and increased as the need arises ...... to permit appropriation and expenditure during the fiscal year covered by the budget of amounts of cash anticipated to be available during the year from sources other than taxation and which had not been estimated and appropriated for expenditure during the fiscal year of the budget sought to be amended.

Iowa Code Section 257.7(2) If actual miscellaneous income for a budget year exceeds the anticipated

miscellaneous income in the certified budget for that year …… a school district may amend its certified budget.

2017/18 SCHOOL BUDGET AMENDMENT

Amendment to 2017-18 Budget Instruction Amend expenditures from $42,751,853 to $43,577,509 Technology equipment & staffing

Total Support Services No Change

Non-instructional Programs No Change

Other Expenditures No Change

Public hearing required

2017/18 SCHOOL BUDGET AMENDMENT

March 26, 2018 – Establish Proposed Budget Amendment March 28, 2018 – Publish Proposed Budget Amendment April 9, 2018 – Public Hearing & Adoption of Budget Amendment April 16, 2018 – File Budget Amendment with County Auditor

2017/18 BUDGET AMENDMENT TIMELINES

QUESTIONS?

new cedar falls community school district 2011-12 budget … · 2020. 6. 20. · state foundation...

Documents