2018-19 Budget Workshop May 21, 2018
2018-19 Summary of Fund Types Federal $11,105,298 Capital & Debt Retirement $78,020,891 Supported Funds $234,388,424 Self-Supported $23,055,086 Flow-Through $31,463,046
SUPPORTED (OPERATING) FUNDS • Funds are used to account for the general operation of the district. • Includes the general and supplemental general fund, as well as other funds that are supported by transfers from these funds. • Main revenue sources -- state aid, local taxes and reimbursable fees.
Current Budget Assumptions: Funding • BASE increases $159 to $4,165 • Special Education funding increased due to increase in categorical aid and transportation cost reimbursement • LOB funding decreases due to less weighted FTE
Anticipated Funding 2018-19 Est. Funding – KSDE Runs 2018-19 Est. Funding – SMSD Estimate Weighted FTE Increase Weighted FTE Increase General State Aid 35,599.2 2,391,167 General State Aid 35,653.7 3,064,549 SPED State Aid 4,842.5 1,904,459 SPED State Aid 5,272.6 2,025,900 LOB Restored 36,303.9 - LOB Restored 35,653.7 (961,919) Funding Increase $4,295,626 Funding Increase $4,128,530 Reimbursables/Other 444,319 Adjustments for SMSD Estimate Enrollment drop after 2015-16 (-376.8 FTE) Estimated Funding $4,572,849 Student Growth Reserve added ($1.2 million) Increase Bilingual – decreased 15% Vocational Ed – increased 10% New Facilities – Lenexa Hills added Declining enrollment eliminated (-397.8 FTE)
2018-19 Estimated Supported Funds General $148,497,931 LOB 61,440,697 Special Education 21,866,635 Reimbursables 2,491,750 Medicaid 1,340,000 Other 898,465 Total $236,535,478
Current Budget Assumptions: Expenditures • Professional Growth included; no other salary increases - $500,000 • Personnel Changes of 15.9 FTE - $1,606,000 • Maintains health cap at $649 - $657,000 • Includes 3% increase for transportation - $444,000 • Includes decrease for textbooks – ($900,000) • Student Growth Reserve added - $1,200,000
2018-19 Budget Summary 9,361,047 32,443,426 4.0% 26,459,880 13.8% 11.3% 14,353,522 12,713,799 6.1% 5.4% 1,541,534 9,639,493 0.7% 4.1% 12,949,100 5.5% 2,085,675 0.9% 112,840,949 48.2% Teachers Pyschologists Administrators Classified Other Salaries Benefits 83.4% of Budget for Salaries and Benefits – Transportation Utilities $195,360,634 Supplies & Services Other
Summary of Fund Balances Restated Actual Original Anticipated Projected 2016-17 2017-18 2017-18 2018-19 Base State Aid Per Pupil $3,852 $4,006 $4,006 $4,165 Revenues $216,099,302 $234,628,748 $231,962,629 $236,535,478 Expenditures $216,507,717 $233,182,089 $233,158,820 $234,388,424 Surplus (Deficit) Operating ($408,415) $1,446,659 ($1,196,191) $2,147,054 Workers' Compensation 600,000 0 0 0 Beginning Fund Balance $15,910,190 $15,501,775 $15,501,775 $14,305,584 Ending Fund Balance $15,501,775 $16,948,434 $14,305,584 $16,452,638 Balance as % of Expenditures 7.16% 7.27% 6.14% 8.13% Workers Comp Reserve $2,600,000 $2,600,000 $2,600,000 $2,600,000 Contingency Reserve $5,638,052 $5,638,052 $5,638,052 $5,638,052
FLOW-THROUGH FUNDS TO THE STATE Cost of Living $ 6,508,796 KPERS 24,954,250 Total $ 31,463,046
SELF-SUPPORTED FUNDS • Revenue received equals (or exceeds) the expenditure budget • Receive no transfers from general or LOB fund • Revenue received is for a specific purpose • Revenue includes: • Fees • Local Taxes • Interest • Gifts, Grants, and/or Donations
Self Supported Funds Beginning Ending Fund Balance Receipts Expenditures Balance Adult Supplemental $ 35,421 $ 0 $ 35,421 $ 0 E ‐ School 389,264 76,500 384,529 81,235 Food Service 3,538,957 10,998,367 14,532,452 4,872 Summer School 947,519 474,000 768,562 652,957 Special Liability 1,847,982 401,042 1,241,675 1,007,349 Student Materials 346,102 739,000 1,085,102 0 Textbook Rental 3,750,643 919,755 2,877,909 1,792,489 Health Reserve 51,724 1,336,000 1,320,000 67,724 Gifts, Grants & Donations 1,345,113 1,169,671 1,026,641 1,488,143 Drug Free Schools ‐ Local 47,089 39,000 86,089 0
CAPITAL & DEBT RETIREMENT FUNDS • Capital Outlay fund - receives local taxes for the purpose of construction, repair, remodeling, furnishings, equipment, software, uniforms and technology for district facilities. • Debt Retirement fund - receives local taxes for the payment of interest & principal on general long ‐ term debt and special assessments. • These funds can not be used for operating expenditures.
Assessed Valuation (In Billions) $3.863 6.24 % 4.0 3.5 3.0 2.5 2.0 1.5 1.0 0.5 0.0 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Capital Outlay: Revenue $ 18,365,395 Beginning Fund Balance Property Taxes 29,683,598 Motor Vehicle Taxes 3,258,514 Miscellaneous 49,853 Apple Repair/Replacement Fees 150,000 Apple Trade-In 1,653,100 Sale of Warehouse 2,400,000 Total Budget Available $55,560,460
Capital Outlay: Expenditures Instructional $ 980,317 Departments 4,708,717 Operations and Maintenance 12,550,000 Salaries and Benefits 4,356,723 Bond and Note Payments 19,539,843 Unallocated Projects 8,424,859 Total Capital Outlay $ 50,560,459
Current Mill Debt Service Requirements by Year and Issue Rate 7.440 7.434 2019 7.434 2021 6.934 Projected Mill Rates 6.934 2023 6.934 6.934 2025 2027 2029 1996A - Refunding 2031 2008A - Refunding 2033 2012A - Refunding 2035 2015A - Construction 2037 2016B - Construction 2039 0.00 5.00 10.00 15.00 20.00 25.00 30.00 Interest In Millions
Other Debt Funds Beginning Ending Fund Balance Receipts Expenditures Balance Bond & Interest $ 23,833,183 $ 29,666,958 $ 26,560,432 $ 26,939,709 Special Assessment 640,751 753,939 900,000 494,690
FEDERAL FUNDS • Federal grants received directly from the federal government or passed through the state of Kansas. • Restricted to the specific use detailed in the grant documents . Title I $3,205,001 Title I Migrant 73,000 Title IIA 609,192 Title III 232,494 Title VIB 6,166,203 Carl Perkins 175,087
Mill Levy History Projected 2018 70.000 Mill Levy – 52.822 (1.57% decrease) 60.000 Special Liability 50.000 Special Assessment 40.000 Declining Enrollment Cost of Living 30.000 Bond & Interest 20.000 Capital Outlay LOB 10.000 General Fund 0.000 * Anticipated 2018 cost to owner of $200,000 home -- $1,169
Total of All Budgets Projected Requested Expenditures Budget 2017-18 2018-19 Supported $ 233,158,820 $ 234,388,424 Self ‐ Supported Funds 15,780,021 23,055,086 Capital & Debt Retirement 69,247,250 78,020,891 Flow ‐ Through Funds to State 29,607,038 31,463,046 Federal Funds 11,519,882 11,105,298 Total Budgets* $ 359,313,011 $ 378,032,745 * Actual budget amounts will be increased by student growth reserve, fund transfers and ending balances in accordance with the state reporting format.
Budget Timeline Budget Workshop May 21,2018 Approval of Publication July 23, 2018 (tentative) Publication of Notice of Hearing in KC Star July 26, 2018 (approximately) 10-day Publication Noticed Ends August 5, 2018 Budget Hearing and Adoption August 13, 2018 (tentative) Budget Submission Deadline August 25, 2018 Presentation can be found at SMSD.org – Budget & Finance Section
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