Business Office Fort Ringgold Rio Grande City, Texas 78582 Phone: (956) 716-6710 Fax: (956) 716-6610
Rio Grande City CISD Rio Grande City, Texas 2012-2013 Proposed Annual Budget For Fiscal Year September 1, 2012 – August 31, 2013
2012-2013 PROPOSED ANNUAL BUDGET TABLE OF CONTENTS PAGE Citizen's Guide to Our Budget……………...…..………………………………………………………… ii Board of Trustees, Superintendent, and Finance Staff………………...……………………………….. iii GENERAL OPERATING FUND (199) General Operating Fund and Debt Service Fund Proposed Annual Budget………...….……… 1 General Operating Fund - Major Revenues……………….…………………………………… 2-3 Statement of Revenues, Expenditures, and Changes in Fund Balance ….….…………….…… 4 Estimated Revenues - General Operating Fund…………………....…………………………… 5 Summary of Total Revenue by Major Source…………………....……………………………… 6 Preliminary 2012 - 2013 Estimate of State Aid (TEA State Template)……………....………… 7-8 Minimum Required Expense Analysis……………...……….…………………………………… 9 Budget Expenditures by Object……………….....……………………………………………… 10 Budget Expenditures by Function………………….…………….……………………………… 11 CHILD NUTRITION PROGRAM Child Nutrition Program Fund Summary………….………………………..…………………… 12 Fund 101 - Statement of Revenues, Expenditures, and Changes in Fund Balance…………...… 13 DEBT SERVICE FUND Debt Service Fund Summary…..….…...………………………...……………………..…..…. 14 Fund 513 - Statement of Revenues, Expenditures, and Changes in Fund Balance………….… 15 Fund 516 - Statement of Revenues, Expenditures, and Changes in Fund Balance……………. 16 Fund 513 - Statement of Estimated Revenues……………………...……..…………………… 17 Fund 516 - Statement of Estimated Revenues………….……………………..………………… 18 Outstanding Debt Schedule - Principal & Interest for Bond Loans……………........…………… 19 SPECIAL REVENUE Summary of Special Revenue (information only)…...……..…...……………………….……. 20 i
����������������������������� WHAT IS A DISTRICT BUDGET? The District budget is an annually revised document that describes the financial performance and the detailed financial allocations made to maintain district operations for the proposed budget year. WHAT IS THE PURPOSE OF A BUDGET? The objective of the budget is to communicate the financial plan about district operations to the public, the Rio Grande City Consolidated Independent School District (RGCCISD) Board of Trustees, and all members of the organization for each budget year. WHAT ARE PROPERTY TAXES? Property taxes are funds that are levied, assessed and collected annually (ad valorem taxes) for the further maintenance of public schools in the district and to pay bonds issued by the school district. WHAT IS A TAX RATE? It is the amount of dollars levied per $100 of taxable value (after exemptions). The resulting amount is called Ad Valorem Taxes. WHAT IS AD VALOREM TAX? Ad Valorem Tax is the Property Tax (after exemptions) that is placed on all the property within the district's jurisdiction. The appraised value is determined by the Starr County Appraisal District. HOW ARE PROPERTY TAXES CALCULATED? The taxable value (after exemptions) divided by 100 and multiplied by the tax rate: Average Appraised Value $ 37,766 Less Homestead Exemption 15,000 Total Taxable Value $ 22,766 RGCCISD Tax Rate 1.4426 $ 22,766 $ 227.66 x 1.4426 $ 328.42 Total Property Tax Due = = $ 100 WHERE CAN I GET ADDITIONAL INFORMATION ABOUT RGCCISD AND THE DISTRICT BUDGET? Rio Grande City CISD Fort Ringgold Rio Grande City, TX 78582 ii
2012-2013 BOARD OF TRUSTEES, SUPERINTENDENT & FINANCE STAFF BOARD OF TRUSTEES Basilio D. Villarreal, Jr. Roberto Gutierrez Cesar Gonzalez Noe R. Gonzalez President Vice-President Secretary Member Silvina S. Hinojosa Ruben Klein Leonel Lopez, Jr. Member Member Member SUPERINTENDENT & FINANCE STAFF Thelma Ramey Asst. Supt. for Finance and Operations Oneida Balderas Compliance Auditor Accounting Supervisor Diana Robles-Méndez Accountant Lourdes M. Elizondo Data Programmer Juan Ruiz Roel A. Gonzalez Superintendent of Schools iii
PROPOSED ANNUAL BUDGET FISCAL YEAR 2012 - 2013 Difference of Estimated Transfers Appropriations Fund Description Revenues Appropriations (Out) / In & Transfers GENERAL FUNDS: 101 Child Nutrition Program 8,436,302 8,436,302 8,436,302 199 Operating Fund (G/Fund) 87,238,581 87,238,581 0 87,238,581 Total 95,674,883 95,674,883 0 95,674,883 DEBT SERVICE FUNDS: 513 Debt Service - Alto Bonito - - - - 516 Debt Service - I & S 9,453,709 9,453,709 9,453,709 Total 9,453,709 9,453,709 0 9,453,709 Total 105,128,592 105,128,592 0 105,128,592 1
2012-2013 GENERAL OPERATING FUND MAJOR REVENUES Fiscal Year 2012-2013: The Revenues for the General Funds are $ 95,674,883. Non-cash Revenues are $ 3,182,733 which includes Teacher Retirement System payments. The net cash revenues for the District are $ 92,492,150. LOCAL REVENUES TAXES Property Taxes: Total assessed valuation for 2011-2012 was $ 1,167,879,710 with a total current tax of $ 1.4795. The District levied $ 17,215.216 in fiscal year 11-12. The maintenance and operation rate was $ 1.17 and the debt service rate was $.3095. Fiscal Year 2012-2013: The District will budget 90% of the estimated tax levy. The proposed tax rate is $ 1.4426 (M&O $ 1.17 and I&S $ 0.2726) for a total estimated tax collection of $ 14,839,259 (M&O $12,060,720 and I&S $ 2,778,539). Prior Year Taxes: The District budgeted $900,000 for prior year taxes. The District contracts with a law firm to collect prior taxes. Collection efforts by the Tax Office include mail outs, working with the Tax Attorney to file suit on properties, and foreclosure. A 15% commission is charged by the law firm and passed through to the taxpayers for the years that a 15% fee was assessed. OTHER REVENUES RELATED TO TAXES (PENALTY & INTEREST) Fiscal Year 2012-2013: The District estimates to collect $ 798,390 for penalties, interest, tax certificates and attorney fees. INTEREST EARNINGS Fiscal Year 2012-2013: The District expects to continue to invest all of its available cash into liquid transactions. The District will continue to invest in bank certificates of deposits to utilize these funds to maximize its returns. Total interest earnings of $ 50,000 is reflected in the budget. 2
2012-2013 GENERAL OPERATING FUND MAJOR REVENUES STATE PROGRAM REVENUES AVAILABLE SCHOOL FUND Fiscal Year 2012-2013: The District's pupil projection is based on last year's ADA, plus 100 projected enrollment. The projected refined Average Daily Attendance (ADA) is 10,047. It is projected that $ 4,165,064 will be generated for this year. FOUNDATION SCHOOL PROGRAM Fiscal Year 2012-2013: The projected ADA is 10,047. It is projected that $ 66,281,674 will be generated for this year. With the proposed tax rate, the District will generate the required amount in this fiscal year. FEDERAL PROGRAM REVENUES Fiscal Year 2012-2013: The District estimates to charge an administrative cost rate of 19.908% to the Federal Programs for this fiscal year. The General Fund utilizes this amount to fund administrative costs and services provided to the Federal Programs. The budget for this year is estimated at $ 5,000. OTHER ON-BEHALF TRS PAYMENTS This source is a non-cash transaction that the District is required to record. The State of Texas and the Governmental Accounting Standards Board, Statement No. 24 mandates this requirement. This amount constitutes the amount of retirement payments (contributions) made by the State on behalf of the District for all of its employees. The intent of this transaction is to account for the entire cost of providing school services in the State of Texas. Fiscal Year 2012-2013: The projected amount for this year is $ 3,182,733. 3
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