“WE E ED EDUCATE E TODAY ... YOU OU SUCCEED T TOMORR OMORROW” 2010/2011 Budget Workshop – June 22, 2010 GR GREENVI VILLE LE I INDEPENDENT S SCHOOL D DISTRICT Presented by: Donald Jefferies Superintendent David Carter, CPA Chief Financial Officer
AGENDA 2009/2010 Year in Review 2010/2011 Goals & Priorities 2010/2011 Projections • Fund Balance, Property Values, Enrollment • General Fund, Food Service Fund & Debt Service Fund • Compensation Plan discussion Review Deferred Maintenance Plan
2009/2010 YEAR IN REVIEW SF SFSF SF St Stim imulus F Funds • Received $1.6 million in 2009-10 Appr proved Relo loca cating ng T Tra ravis E Ele leme ment ntary to SGC • Better utilize facilities, staff • Provide better & safer environment for students • Savings estimated between $250-$300K Propo posed E Ene nerg rgy P Performanc nce Cont ntra ract ct • Estimated utility savings of $250,000 • Self-funding contract – No or low interest rates Approved S Stra rategic Act ction P n Pla lans ns
2010/2011 BUDGET GOALS & PRIORITIES Present Board of Trustees with balanced budget for 2010/2011 Continue to reduce costs as far away from classrooms/students as possible Continue to review staffing levels– reductions through attrition rather than RIF Begin implementation of Strategic Action Plans as approved by Board of Trustees
FOOD SERVICE FUND Factors to Consider: • Approved extending partnership with Chartwells • Chartwells proposed & TDA accepted budget projects surplus of $97,222 • Surplus is guaranteed by Chartwells • No price increases proposed for 2010-2011 • Relocation of Travis campus will provide staff to fill vacancies and unused equipment may be allocated within District • Option for interest-free loan to purchase equipment
FOOD SERVICE FUND 2010/2011 2009/10 2010/11 Revised Proposed % % of Descriptions Budget Budget Variance Change Budget Local Revenue Sources $ 579,015 $ 477,318 $ (101,697) -17.6% 19.2% State Revenue Sources 17,000 17,000 - 0.0% 0.7% Federal Revenue Sources 1,644,975 1,986,623 341,648 20.8% 80.1% Total Revenues $ 2,240,990 $ 2,480,941 $ 239,951 10.7% 100.0% Payroll $ 879,639 $ 912,102 $ 32,463 3.7% 38.3% Contracted Services 259,796 333,222 73,426 28.3% 14.0% Supplies 1,070,700 1,134,395 63,695 5.9% 47.6% Other Expenses 3,355 4,000 645 19.2% 0.2% Total Expenditures $ 2,213,490 $ 2,383,719 $ 170,229 7.7% 100.0% Net Income (Loss) $ 27,500 $ 97,222 $ 69,722
DEBT SERVICE FUND Factors to Consider: • Debt service requirement for 2009-10 will remain the same for 2010-11 • Have two remaining outstanding bond issuances – will be fully paid for in 2026 • Healthy projected fund balance at 8/31/2010 – approximately $1.3 million (54% of expenditures)
DEBT SERVICE FUND $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 $500,000 $- 2009/10 2010/11 2011/12 2012/13 2013/14 2014/15 PRINCIPAL 2015/16 2016/17 INTEREST 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23 2023/24 2024/25 2025/26
DEBT SERVICE FUND 2010/2011 2009/10 2010/11 Revised Proposed % % of Descriptions Budget Budget Variance Change Budget Local Revenue Sources $ 2,212,688 $ 2,264,064 $ 51,376 2.3% 95.2% State Revenue Sources 175,000 115,000 (60,000) -34.3% 4.8% Federal Revenue Sources - - - 0.0% 0.0% Total Revenues $ 2,387,688 $ 2,379,064 $ (8,624) -0.4% 100.0% Principal on Long-term debt $ 1,375,000 $ 304,158 $ (1,070,842) -77.9% 12.8% Interest on Long-term debt 1,012,688 2,074,906 1,062,218 104.9% 87.2% Debt Issuance Costs & Other Fees - - - 0.0% 0.0% Total Expenditures $ 2,387,688 $ 2,379,064 $ (8,624) -0.4% 100.0% Net Income (Loss) $ - $ - $ -
WHAT IS TARGET REVENUE? Year 1 1 Year 2 2 $4, $4,971 $4, $4,971 St Stat ate Aid Aid St Stat ate Aid Aid Increasing In Prope perty Va Values Proper perty Taxes Proper perty Increas easing T Tax ax Taxes Revenues Increasing pr proper perty v values DO N O NOT in increase t tar arget r revenue p per WAD ADA TAR ARGET ET R REV EVEN ENUE E = CEI EILING I IS THE E FLOOR… FLOOR OOR IS THE CEILING…
TARGET REVENUE – HUNT COUNTY Variance Target from Difference in Ranking by Revenue per WADA - Revenue Ratio to Greenville Revenue for Using HB 3646 Funding Formula per WADA the Mean ISD 5,880 WADA 116906 Lone Oak ISD 5,153 103.72% $ 182 $ 1,070,160 116901 Caddo Mills ISD 5,105 102.75% $ 134 $ 787,920 116902 Celeste ISD 5,024 101.12% $ 53 $ 311,640 116905 Greenville ISD 4,971 100.06% $ - $ - 116916 Boles ISD 4,937 99.37% $ (34) $ (199,920) 116903 Commerce ISD 4,936 99.35% $ (35) $ (205,800) 116910 Campbell ISD 4,924 99.11% $ (47) $ (276,360) 116915 Bland ISD 4,896 98.55% $ (75) $ (441,000) 116908 Quinlan ISD 4,886 98.35% $ (85) $ (499,800) 116909 Wolfe City ISD 4,850 97.62% $ (121) $ (711,480) Mean 4,968 Texas S State A Average 5, 5,438 438
GENERAL FUND – PROPERTY VALUES $1,700 $1,600 $1,500 1,515 1,505 1,501 1,508 1,523 $1,400 1,408 1,393 $1,300 llions $1,200 in Milli 1,208 $1,100 lues i 1,136 Valu $1,000 1,043 979 $900 928 907 $800 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 est. 2012 est. 2013 est. 2014 est.
GENERAL FUND – DISTRICT ENROLLMENT 5,500 5,250 5,000 4,750 4,500 4,250 4,000 3,750 3,500 2011 2012 2013 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 /12 /13 /14 /02 /03 /04 /05 /06 /07 /08 /09 /10 /11 est. est. est. Enrollment 5239 5220 5288 5204 5255 5166 4860 4800 4900 4925 4950 4975 5000 ADA 4784 4729 4817 4825 4833 4647 4442 4387 4476 4450 4472 4494 4516
GENERAL FUND PROJECTION Factors to Consider: • State budget deficit estimated at $12-20 billion Franchise tax is raising $4-5 billion less than what property taxes were raising before tax rates were compressed in 2005-06 Sales tax revenue in current biennium is $1.3 billion less than estimates – state usually uses surplus sales tax revenue to balance next biennium’s budget Rainy day fund is only $9-12 billion Education needs an add’tl $5 billion for next biennium: $3 billion to replace federal stimulus funds $2 billion to fund growth – 300,000 people and 90,000 students every year
GENERAL FUND PROJECTION Factors to Consider: • No student growth – no change in state funding • SFSF stimulus funding estimated at $1.3 million • Relocating Travis campus to SGC campus • Budget submissions from campuses/directors – targeted a 5% budget reduction • Staff reductions through evaluation and attrition • Preliminary forecast – 4/20/2010 projected deficit budget in 2010-11 totaling ($603,787)
GENERAL FUND 2010/2011 2009/10 2010/11 Revised Proposed % % of Descriptions Budget Budget Variance Change Budget Tax Revenues $ 15,519,891 $ 16,450,000 $ 930,109 6.0% 50.3% Other Local Revenues 447,360 267,500 (179,860) -40.2% 0.8% State Revenue Sources 14,092,576 14,129,061 36,485 0.3% 43.2% TRS On-Behalf 1,692,200 1,699,000 6,800 0.4% 5.2% Federal Revenue Sources 355,000 175,000 (180,000) -50.7% 0.5% Total Revenues $ 32,107,027 $ 32,720,561 $ 613,534 1.9% 100.0% Payroll $ 27,409,217 $ 27,950,784 $ 541,567 2.0% 84.9% Contracted Services 2,878,198 2,729,364 (148,834) -5.2% 8.3% Supplies 1,571,799 1,286,241 (285,558) -18.2% 3.9% Other Expenses 640,071 761,297 121,226 18.9% 2.3% Debt Service 180,600 180,342 (258) -0.1% 0.5% Capital Outlays 5,500 6,500 1,000 18.2% 0.0% Total Expenditures $ 32,685,385 $ 32,914,528 $ 229,143 0.7% 100.0% Increase (Decrease) in Fund Balance $ (578,358) $ (193,967) $ 384,391
GENERAL FUND 2010/2011
GENERAL FUND Reductions taken in budget process: • Relocated Travis to SGC – est. savings $250-300K • Targeted 5% decrease in campus/directors budgets – est. savings $175-250K • Re-aligned central office & transportation staff – est. savings $75-100K • Reduced coaching & other positions @ GHS,GMS,SGC – est. savings $300-350K • Total Reductions taken – approx. $900,000
GENERAL FUND Additional possible budget reductions: • Reduce amount of buses purchased or delay entering in contract to purchase buses – est. savings $50-150K Impact – Pressure on M&O fund due to increased cost of repairing and maintaining older buses and possibility of increased breakdowns on bus routes which has an adverse affect of GISD image. • Reduce campus aide positions where available – est. savings $50-100K Impact – Decreased individualized time spent with students.
GENERAL FUND Additional possible budget reductions: • Consolidate Librarian positions into teaching positions – est. savings $200-400K Impact – Loss of support and instruction in school libraries. Places additional demand on teachers and support staff.
COMPENSATION & BENEFITS PLAN 2009/10 Review: • Mandated step raise for teachers - $800 minimum • Starting teacher’s salary $37,720 • TRS insurance increased 4.5% 2010/11 Factors to consider: • TRS insurance increasing approximately 7% • District monthly contribution will be $289.34/month • Proposed 3% increase for Administrators
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