FY 2019 South Burlington School District Budget Information - PowerPoint PPT Presentation

FY 2019 South Burlington School District Budget Information December 19, 2017 December 19, 2017 South Burlington School District Budget Information 1

Budget Information — 2018-19 Contents Contents Page Budget Deliverables ……………………………………………… 3 Components of Tax Rate …………………………………………. 4 Budget Workshop …………………………………………………… 5 Proposed Budget Factors ……………………………………….. 6 Budget and Tax Rate History …………………………………… 7 Tax Rate History and Estimate ………………………………… 8 Equalized Pupil History …………………………………………… 9 Measures of Per Pupil Cost …………………………………….. 10-17 Staffing and Enrollment Data …………………………………. 18-23 Academic Results/Programs ………………………………….. 24-26 Staff Summary ………………………………………………………. 27-28 Staffing Ratios Teacher ………………………………………….. 29-32 Notable Budget Items ……………………………………………. 33 Stewardship Plan …………………………………………………… 34-42 Budget Recap ………………………………………………………… 43 Where to Find Additional Information ………………….. 44 Questions ……………………………………………………………… 45 Facilities Stewardship Recap – Operating Budget …. 46 Facilities Stewardship Recap – Bonds …………………… 47 December 19, 2017 South Burlington School District Budget Information 2

Recommended Budget Deli liverables The South Burlington School District Recommended Budget will allow us to: • Maintain student opportunities and programs that are essential for students to achieve desired educational goals outlined in our District’s Ends Policy ; • Continue programs and professional development for staff that allow for sustainability of our schools’ excellence as measured by student outcomes (Ends); • Continue to utilize student assessment data to adjust and deploy resources in the identified areas of need; • Safeguard well-being of students and staff through maintenance of all five school buildings utilizing a bond as a financial instrument so that costs are spread over a twenty-year period. These highlights capture our commitment to educational excellence, student and staff well-being, fiscal responsibility and building stewardship. December 19, 2017 South Burlington School District Budget Information 3

Components of the Tax Rate Calculation The tax rate can vary – and has over the years – as a result of any one of these five factors. The proposed year is one where the tax rate decreases, despite an increase in the expenditure level. Estimated Revenues $11,993,908 Proposed Expenditures Down 0.43% "Yield" $9,842 $49,205,466 set by Vt AOE Down 3.13% Down 0.13% Property Tax Rate Up 3.23% Equalized Pupils Common Level of 2,430.0 Appraisal 95.44% estimated number Estimated number Up 0.54% Negligible change December 19, 2017 South Burlington School District Budget Information 4

SBSD Budget Development--"Recommended" Budget--DRAFT Actual FY18 FY19 Prelim SBSD Budget FY 2019 Status Version: # 1a Change ######## Budget Budget % Chg Expenditure Budget Funds 01 & 03: $49,268,882 $49,303,466 (1) $34,584 State Level Factors FY19 0.07% FY18 Factors From Regular Operating, to find: ($98,000) Property Yield $9,842 $10,160 * CLA 95.44% 95.98% (3) Adjusted Expenditure Budget $49,268,882 $49,205,466 ($63,416) Equalized Pupils: 2,430.00 -0.13% 2,416.89 Less "Other" Revenue Funds 01 & 03: $12,046,081 $11,993,908 (2) ($52,173) -0.43% Non-Resid Tax Rate $1.6290 $1.5350 possible revenue budget changes: $0 Adjusted Revenue Budget: $12,046,081 $11,993,908 ($52,173) -0.43% Residential Property Tax Impact (Net) State Education Fund $37,222,807 $37,211,558 ($11,249) -0.03% Before income sensitivity and with the CLA the residential property tax per Equalized Pupils 2,416.89 2,430.00 (3) 13.11 0.54% $100,000 homestead value is estimated as: Net "Ed Spending" Per Equalized Pupil $15,401.12 $15,313.40 ** ($87.72) -0.57% $1,556 Total Property "Yield" $10,160 $9,842 (4) ($318.00) $51 -3.13% Change from FY18 monthly change $4.25 S.B. Residential Tax Rate (w/o CLA) $1.5159 $1.5559 $0.0400 $5,480 (6) 2.64% Tax on a $336,110 home Residential Tax Rate w/ CLA $1.5793 $1.6303 (5) $0.0510 3.23% Change from FY18 $171 $14.28 Non-Residential Tax Rate (w/o CLA) $1.5350 $1.6290 $0.0940 6.12% monthly change Non-Residential Tax Rate w/ CLA $1.5993 $1.7068 $0.1075 $3,772 (7) 6.72% Tax on a $231,356 condo Change from FY18 $118 monthly change $9.83 The % change in the total expenditure budget -0.13% FY18 Factors The % change in ed spending per equalized pupil is:** -0.57% Income Sensitivity Impac 2.72% 2.72% The % change in the estimated residential tax rate is: 3.23% Tax on $40,000 HH Income $1,088 0 The % change in the non-residential tax rate from FY18 is: 6.72% Tax on $60,000 HH Income $1,632 0 The % change in the income sensitized rate from FY18 is: 0.00% Tax on $80,000 HH Income $2,176 0 The % change in draw from the State Education Fund is: -0.03% Sheet Notes: Budget Notes: 1. The total expenditure budget proposed for the coming year. 1. Total expenditure budget, ed spending per equalized pupil, and percent change are, by law, included in the ballot language. 2. The total amount expected in revenue for the coming year. 2. This budget recognizes reductions considered to date, as well as estimates for CLA and Equalized Pupils. 3. The count of equalized pupils computed by the AOE 3. Items circled in red represent district estimates for State parameters eventually expected 4. The "property yield, set by the AOE 5. The total computed residential tax rate. December 19, 2017 South Burlington School District Budget Information 5

Proposed Budget Factors include: • Total expenditure decrease of 0.13% versus 2018 fiscal year • Tax rate increase of 3.23% versus 2018 fiscal year.* Our local budget increase impacts the tax rate by 0.10%. 3.22% of that is due to a decrease in the state-set “property yield.” • The average condo ($231,356) in South Burlington will see a $118 increase • The average home ($336,110) in South Burlington will see a $171 increase *The School District tax rate is subject to change based on possible legislative action after this budget vote December 19, 2017 South Burlington School District Budget Information 6

SOUTH BURLINGTON SCHOOL DISTRICT Budget & Tax Rate Changes Proposed FY 2019 Budget % Spending Fiscal Budget Increase Tax Change in Year Request Proposed Rate Tax Rate 2019 preliminary $49,205,466 -0.1% $1.6303 * 3.23% 2018 $49,268,888 4.9% $1.5793 -2.01% 2017 $46,973,703 2.7% $1.6117 -0.52% 2016 $45,747,228 3.3% $1.6202 0.61% 2015 $44,297,297 3.0% $1.6104 6.15% 2014 $42,986,751 2.1% $1.5171 7.50% 2013 $42,106,183 3.7% $1.4112 2.78% 2012 $40,587,607 0.7% $1.3730 -0.72% 2011 $40,296,044 0.9% $1.3830 -5.98% 2010 $39,923,685 4.4% $1.4710 8.56% Ten Year Averages: 2.56% 1.96% * Estimated, subject to final adjustments of the state legislature. December 19, 2017 South Burlington School District Budget Information 7

Tax Rate History and Estimate Tax Rate History and Estimate December 19, 2017 South Burlington School District Budget Information 8

SOUTH BURLINGTON SCHOOL DISTRICT Equalized Pupil Comparison % Change FY14 FY15 FY16 FY17 FY18 FY19* FY19 vs FY14 State-Wide Total 89,899 89,257 89,164 89,039 87,745 88,101 -2.0% South Burlington 2,381 2,365 2,400 2,420 2,417 2,430 2.1% * District estimate. We do not yet have equalized pupil amount from State AOE December 19, 2017 South Burlington School District Budget Information 9

How does school spending in South Burlington compare with other districts in the state? The State of Vermont publishes per pupil cost data three different ways: 1. “ Ed Spending per Equalized Pupil ” is used to set tax rates for each of the districts in the state. This version of per pupil cost divides “net” education spending by the number of equalized pupils in a district. Equalized pupils is a statistic for resident pupils (incoming tuition students are not counted) with various “weights” applied to recognize intensity of need for students. 2. “ Allowable tuition ” is a per pupil cost designed to answer the question: how much should a receiving school be allowed to charge a sending school for the education of the sending school’s tuitioned students. This per pupil cost excludes items like transportation of resident students to and from school and tuition expense for students who need to be tuitioned out. Sending schools should not be expected to pay this types of expense. 3. SASRS : Data from the Vermont Annual Statistical Report of the Schools includes ALL expenses a district incurs, divided by the full time enrollment in the district, including resident and non- resident students. December 19, 2017 South Burlington School District Budget Information 10