INDIAN LAKE 5-Year Forecast – October 2017
Revenue Projections ■ Local Funding Real Estate – 55% of total revenue and tax collections are based on property values. ■ State Funding – 28% of total revenue State Funding Formula takes into account student enrollment and property wealth of the district for a State Share Index.
Real Estate Funding ■ Future property value projections are minimal due to the change in the CAUV calculation for the Agriculture values. ■ The renewal of the emergency levy is projected in fiscal year 2020 since it expires on December 31, 2019. Actual/Projected Revenue Renewal Levy Revenue
State Funding ■ The current state budget covers FY18 and FY19. – We currently receive guaranteed state funding at the FY17 level. ■ It is projected that the guarantee funding amount will be reduced in future fiscal years.
Expenditures ■ Top Three Expenditure Items; Personal Services, Benefits, and Purchased Services; make up 91% of the budget;
Personnel Salaries and Benefits
Purchased Services ■ This category covers the cost for utilities, contractual agreements, professional development, tuition charges related to open- enrollment, charter/ community schools, special education services, and property insurance. ■ It is projected that these specialized services as well as utility costs will rise in future fiscal years.
Current General Fund Financial Picture $20,000,000 $11,250,000 $2,500,000 -$6,250,000 -$15,000,000 2015 2016 2017 2018 2019 2020 2021 2022 Total Revenue Total Expenditures Cash Balance ACTUAL FORECASTED 2015 2016 2017 2018 2019 2020 2021 2022 2.08 Total Revenue 17,298,377 17,703,649 19,215,015 17,964,637 18,143,280 16,632,084 15,090,965 14,937,862 5.05 Total Expenditures 16,244,724 16,581,553 18,197,140 18,101,726 18,723,062 19,293,440 19,971,553 20,546,454 6.01 Budget Surplus/(Shortfall) 1,053,653 1,122,096 1,017,875 -137,089 -579,782 -2,661,356 -4,880,588 -5,608,592 15.01 Cash Balance 6,725,975 7,812,545 8,568,435 8,483,394 7,903,612 6,702,083 4,740,951 2,051,414
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