Evansville Vanderburgh School Corporation 2021 Budget Presentation August 10, 2020 1
2021 Budget Board Approval Required 2021 Funds Education Fund Operations Fund Rainy Day Debt Service and Exempt Debt Service 2
2021 Budget 2021 Budget Assumptions 1. Enrollment projections reflect 2019-2020 levels. 3
2021 Budget Education Fund Revenue 2021 Basic Tuition Support Factors I.C. 20-43 • Basic Tuition Support/Complexity Grant • Honors • Special Education • Vocational Education 4
2021 Budget Funding Formula 2021 1. Basic Tuition Support/ Complexity Grant $145,759,400 2 Academic Honors Diploma 508,600 3. Special Education (Based on Exceptionality) 12,479,976 4. Vocational Education (Based on Course) 2,822,410 TOTAL $161,570,386 5
2021 Budget Education Revenue Total Basic Grant 161,570,386 Miscellaneous State and Local 1,200,000* TOTAL $162,770,386 *Revenue may be lower due to COVID-19 6
2021 Budget Permissible Education Fund Expenditures All Category 1 (“Academic Achievement”) and 2 (“Student Support”) Expenditures Examples Include: Teachers Principals Counselors Nurses Secretaries Teacher Assistants Classroom Supplies and Equipment 7
2021 Budget 8
2021 Budget Operations Fund Revenue Source Property Tax Miscellaneous Taxes: • Motor Vehicle Excise Tax • Commercial Vehicle Excise Tax • Financial Institutions Tax Local Revenue Sources Education Fund Transfers 9
2021 Budget Operations Fund Revenue 2021 1. Property Tax $43,437,858 2 Miscellaneous Tax 3,692,910 3. Local Revenue Sources 12,469,819 4. Education Fund Transfers 22,000,000 TOTAL $81,600,587 10
2021 Budget Permissible Operations Fund Expenditures All Category 3 (“Overhead”) and 4 (“Non - Operational”) Examples Include: Operations Daycare Insurance Utilities Vendor Services 11
2021 Budget 12
2021 Budget Capital Projects Plan (Operations Fund) Capital Projects Plan – Three-Year Plan Construction/Improvements Building Construction Building Renovation Building Repair Building Maintenance Utilities Equipment and Technology Equipment/Technology Purchases Equipment/Technology Repair 13
2021 Budget Capital Projects Detail (Operations Fund) 2021 Improvements and Replacements: 19,800,722 Construction/Improvements Lease/ Purchase 500,000 Utilities 4,651,747 Technology 2,801,123 Equipment 445,000 1,000,000 Skilled Labor 300,000 Emergency Allocation $29,498,592 Total 14
2021 Budget Transportation Funds (Operations Fund ) Transportation Operating Bus Replacement Budget - $14,690,036 Budget - $11,351,710 5 year Replacement Plan Statutory provision for Fair Market Lease 15
2021 Budget Five Year Bus Replacement Plan Eligibility 2021 Thirty-Seven 72-Passenger Buses 3,748,000 Thirty-Two 54 Passenger Ambulatory 3,296,000 Buses Twenty- One 54 Passenger Size W/C 2,901,000 Buses One 42 Passenger Tour Bus 250,000 Six 14 Passenger Conforming Vehicles 420,000 Fair Market Lease Value 736,710 TOTAL $11,351,710 16
2021 Budget Art Institute Fund (Operations Fund) Funding currently provided to The Arts Council of Southwestern Indiana to provide ongoing programs for our students Budget - $375,000 17
2021 Budget Historical Society Fund (Operations Fund) Funding to Bosse Field Historical Society Budget - $750,000* * The State inadvertently omitted in 2019 the availability of the levy. A one time correction allowing to capture funds was approved during the last legislative session. Moving forward it is anticipated this will remain at a level that is equal to the Art Institute Fund. 18
2021 Budget Debt Service - Regular 2021 Expenditure Budget Debt Service – Regular $15,297,478 19
2021 Budget Debt Service - Exempt 2021 Expenditure Budget Debt Service – Exempt $12,321,000 20
2021 Budget Rainy Day Fund 2021 Budget Personal Services $7,934,517 TOTAL $7,934,517 21
2021 Budget Advertised Anticipated 2021 Fund Name Budget Funding Education Fund 140,030,458 140,030,458 Operations Fund 30,355,597 30,355,597 Capital Projects Plan (Operations Fund) 29,498,592 21,188,915 Bus Transportation (Operations Fund) 14,690,036 14,690,036 Bus Replacement (Operations Fund) 11,351,710 2,534,135 Art Institute (Operations Fund) 375,000 307,778 Historical Society (Operations Fund) 750,000 615,556 Debt Service – Regular 15,297,478 15,297,478 Debt Service – Exempt 12,321,000 12,321,000 Rainy Day 7,934,517 0 TOTAL $262,604,388 $237,340,953 22 2021 Property Tax Caps are estimated at $9,521,740.00
2021 Budget 2020 School Corporation Tax Rates for the 5 largest Indiana School Districts Indianapolis Public Schools 1.4284 Hamilton Southeastern 1.2521 South Bend 1.0414 Fort Wayne .9660 EVSC .9420 23
2021 Budget NEXT STEPS - August 24, 2020 Board Meeting- Budget Review and Permission to Advertise Budget August 26, 2020 Bus Replacement Plan and Capital Projects Fund in Gateway and posted on the EVSC website Board Meeting – Public Hearing of Proposed 2021 Budget, Bus September 8, 2020 Replacement Plan and Capital Projects Plan Board Meeting – Proposed 2021 Budget, Bus Replacement September 21, 2020 Plan, and Capital Projects Plan Adopted by the Board at Public Meeting 24
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