Georgetown ISD Proposed Budget 2015-2016 June 2015 Major Factors - PowerPoint PPT Presentation

Georgetown ISD Proposed Budget 2015-2016 June 2015

Major Factors in Budget Preparation • Funding based on Conference Committee HB1 • Enrollment growth based on Templeton Demographics  2014-2015 10,675 ADA= 10,045  2015-2016 10,825 ADA= 10,170 • Taxable value growth  2014-2015 $6.973 billion  2015-2016 $7.741 billion 11% increase 2

Major Factors in Budget Preparation • Elimination of major costs in 2014-2015 budget - $4.722 mil  Buses $667,075  Technology $101,000  Textbooks $611,000  ESE program 1 $1,024,000  Net payroll reductions $1,819,000 • 3% salary increase - $1.8 million • Elimination of one time state support for TRS supplement  $700,000 1 Equivalent amount of revenue reduced from budget 3

Major Factors in Budget Preparation • Student Info System $516,000 • Employee Health Contrib. $200,000 • Unanticipated Budget Costs $300,000 • One Additional SRO $88,000 • Recapture $152,666 • Curriculum Initiatives $85,000 • Substitute Cost $266,000 • Election Costs $58,500 • Utilities $242,700 • Insurance $60,000 • Replace Cust/Maint Equip $214,500 • Instructional Supplies $50,000 • Contracted Maintenance $167,000 • Central Appraisal District $47,200 • Williamson Co JJAEP $153,875 • Partners In Education $40,000 4

State Funding • Target Revenue District –  Began in 2006 when state compressed M&O tax rate from $1.50 to $1.00  State promised to make up difference between taxes lost and 2006 revenue per WADA  ASATR – Additional state aid for tax reduction  Created inverse relationship between taxes and state aid  ASATR to be phased out by Sept 1, 2017 5

State Funding • Formula District –  ASATR (hold harmless funding) phase out to be completed by Sept 1, 2017  Districts with high taxable value growth during phase out period may move in and out of target revenue system.  GISD  2014-2015 and 2015-2016 state aid calculated under formula; no ASATR  2016-2017 state aid calculated under target revenue and receives ASATR 6

State Funding • Recapture Levels  Level 1 $514,000/WADA for tax rate up to $1.04  Level 2 $319,500/WADA for tax rate above $1.06 • GISD Wealth per WADA  2014-2015 $451,527/WADA  2015-2016 $505,041/WADA  2016-2017 $552,197/WADA • Through 2014-2015, GISD subject to recapture only at Level 2 7

Georgetown ISD Comparison of Taxable Wealth Per WADA To Tier 1 Equalized Wealth Level $580,000 $559,109 $560,000 $552,197 $540,000 $520,000 $514,000 $505,041 $495,000 $500,000 $476,500 $480,000 $460,000 $455,610 $451,527 $446,180 $440,000 $441,829 $425,808 $420,000 8 $400,000 2010-2011 2011-2012 2012-2013 2013-2014 2014-2015 2015-2016 2016-2017 2017-2018

Georgetown ISD Historical and Projected Taxes and State Aid with Recapture $90,000,000 10,800 $6,506,182 $5,524,632 10,600 $85,000,000 10,400 $498,461 $356,424 Average Daily Attendance (ADA) Combined Taxes and State Aid 10,200 $80,000,000 $317,019 10,000 $306,149 9,800 $75,000,000 9,600 9,400 $70,000,000 9,200 $65,000,000 9,000 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 Actual Actual Actual Actual Actual Actual Revised Proposed Projected Projected Budget Budget Budget Budget 9 Net Taxes and State Aid Recapture Payments to State Average Daily Attendance (ADA)

General Fund Revenue, Expenditures, Fund Balance 2014-15 2015-16 Inc % Inc In Thousands Revised Proposed (Dec) (Dec) Local $72,631 $78,474 $5,843 8.0% State 17,296 11,563 (5,733) (33.1%) Fed/Other 1,290 1,250 (40) (3.2%) Total 91,217 91,287 70 0.1% Less: Expenditures 90,974 91,287 313 0.3% Net Rev Over (under) Exp 243 0 Begin. Fund Balance 16,232 16,475 Ending Fund 10 Balance $16,475 $16,475

General Fund Revenues 2014/15 2015/16 Estimated Revenue Revised Revenue $91,287,194 $91,216,536 Federal $1,215,000 Federal 1.3% $1,255,000 1.4% Property Taxes TRS On Behalf $70,293,213 $4,081,429 TRS On Behalf 77.1% 4.5% Property Taxes $3,976,118 $77,249,880 4.4% 84.6% State $7,587,196 8.3% State $13,214,969 14.5% Local Sources $1,259,000 1.4% Local Sources $2,371,925 2.6% 11

State Aid and Local Taxes per Student $7,900 $7,821 $7,771 $7,700 $7,500 $7,505 $7,456 $7,400 $7,300 $7,343 $7,329 $7,196 $7,100 $7,069 $6,900 $6,700 $6,500 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 State Aid and Local Taxes per Student Assumes HB1 funding formula through 2017-2018 12

Revenue Percentages from Local Taxes and State Aid 100.0% 90.0% 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0% 10.0% 0.0% 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 13 Taxes State Aid

General Fund Comparison of Functional Categories 2014/15 2015/16 Revised Budget Estimated Budget $90,973,536 $91,287,194 Instruction & Instr.- Instruction & Instr.- Related Svcs. Related Svcs. $53,429,040 58.7% $52,199,628 57.2% Other $15,238,507 16.8% Other $17,064,186 18.7% Administrative Support Services $2,974,529 Administrative 3.3% Support Services $3,262,666 3.6% Instructional & Support Services - Instructional & School Support Services - School Leadership Student (Pupil) Leadership Student (Pupil) $7,599,610 $11,731,850 14 $7,888,877 $10,871,837 8.4% 12.9% 8.6% 11.9%

General Fund Comparison of Major Object Categories 2015/16 2014/15 Estimated Budget Revised Budget $91,287,194 $90,973,536 Capital Outlay Capital Outlay Payroll $1,928,869 $1,873,365 Payroll $75,769,546 2.1% 2.1% $74,262,689 83.3% 81.4% Operating Exp Operating Exp $2,149,805 $1,386,039 2.4% 1.5% Supplies Supplies $4,123,078 $3,505,700 4.5% 3.8% Prof. & Contr. Services Prof. & Contr. $7,821,508 Services 8.6% $9,440,131 10.3% 15

Georgetown ISD General Fund Fund Balance as a Percent of Expenditures 18,000,000 25.00% 16,000,000 20.00% 14,000,000 19.41% 18.11% 18.11% 18.05% 12,000,000 15.80% 15.00% % of Expenditures 14.27% Fund Balance 10,000,000 8,000,000 11.11% 10.00% 6,000,000 4,000,000 5.00% 2,000,000 - 0.00% 2009-10 Actual 2010-11 Actual 2011-12 Actual 2012-13 Actual 2013-14 Actual 2014-15 Projected 2015-16 Proposed 16 Fund Balance Percent of Expenditures

General Fund Payroll for Full Time Equivalents 20% - Instructional Aides, Clerical, Auxillary Staff 80% - Professional 17

General Fund Payroll for Full Time Equivalents • 60% Teachers • 4.1% Instructional Aides • 8.1% Principals and Office Staff • 6.3% Maintenance/Custodial Services • 4.2% Counselors • 3.3% Bus Drivers/Office Technical • 2.7% Instructional Leadership • 1.8% General Administration Professional • 1.3% General Administration Clerical • 1.1% Staff Development 18

Debt Service Fund Revenue, Expenditures, Fund Balance 2014-15 2015-16 Inc % Inc In Thousands Revised Proposed (Dec) (Dec) Local Rev/Other Sources $20,286 $22,700 $2,413 11.9% Less: Expend/Other Uses 17,078 18,728 1,651 9.7% Net Rev Over (under) Exp 3,209 3,971 763 23.8% Other Sources (179) 0 Begin. Fund Balance 8,943 11,973 3,029 Ending Fund 19 Balance $11,973 $15,944 $3,792

Debt Analysis Comparison – 2004/05 to 2014/15 25% 120% 101.98% 100% 19.65% 20% 83.89% 80% 15.45% 15% 60% 10% 40% 5% 20% 3.28% 3.21% 0% 0% Georgetown ISD All Texas Schools % change Student Enrollment % Bond principal to TAV % change Taxable Assessed Valuation Georgetown ISD All Texas Schools 20