Proposed 2018-19 Budget August 27, 2018
Proposed 2018-19 Budget OVERVIEW Based on estimated taxable values of $8,939,316,133 which is an estimated property value growth of approximately 11.2% Proposed tax rates of: Maintenance & Operations (M&O) $1.04000 Interest & Sinking (I&S) $0.34500 Total Tax Rate (per $100 valuation) $1.38500 • Projected Ch. 41 Robin Hood Payment of $32,736,725 --- an estimated increase of $6.5 million over the prior year. √ Excellence √ Relationships √ Character & Integrity √ Innovation √ Open & Honest Communication √ Compassionate Service
Proposed 2018-19 Revenue ASSUMPTIONS • Projected Enrollment of 8,457 - up 77 students from actual enrollment of 8,380 in 2017-18. • Projected Refined Average Daily Attendance (ADA) of 8,031 students for the year. • Revenue per WADA of $5,999 – an increase of $253 from the $5,746 per WADA in 2017-18. • Property tax collections of 99.5% of tax levied. √ Excellence √ Relationships √ Character & Integrity √ Innovation √ Open & Honest Communication √ Compassionate Service
Proposed 2018-19 Budget CONSIDERATIONS Continued participation in the City of Southlake Tax Increment Financing Zone (TIFZ). BABS Rebate Revenues of $2,020,564 (net of Federal sequestration) which is a decrease of $30,150 from 2017-18. State funding increase of $2,008,976 due to a significant increase in the Per Capita Rate funded by the state in the 2 nd year of the biennium. √ Excellence √ Relationships √ Character & Integrity √ Innovation √ Open & Honest Communication √ Compassionate Service
Proposed 2018-19 Budget CONSIDERATIONS Proposed budget includes the following Board actions: ◦ Staffing provisions under the 2018-19 Staffing Plan based on projected student enrollment per campus includes 5 additional teaching units. ◦ Staffing provisions under the 2018-19 Staffing Plan based on projected student enrollment per campus includes 3 additional banked teaching units which have not been filled. √ Excellence √ Relationships √ Character & Integrity √ Innovation √ Open & Honest Communication √ Compassionate Service
Proposed 2018-19 Budget CONSIDERATIONS Proposed budget includes the following Board actions: .5 FTE PE Teacher at DIS PE Aide at JES (Temporary) Technology Aide at JES (Temporary) Assistant Principal to be shared by JES and WGES (Temporary) 2 LSSPs 1 FT and 1 PT 504 Campus Specialist Receptionist for Administration District Counseling Coordinator Athletic Operations Coordinator 2 Head Lifeguards 2 Lifeguards √ Excellence √ Relationships √ Character & Integrity √ Innovation √ Open & Honest Communication √ Compassionate Service
Proposed 2018-19 Budget CONSIDERATIONS Proposed budget includes the following: A 3% of actual salary increase for all employees. A contribution to health insurance of $300 per month which is a $10 increase per month. √ Excellence √ Relationships √ Character & Integrity √ Innovation √ Open & Honest Communication √ Compassionate Service
Proposed 2018-19 Budget General Fund Revenues 5711 Taxes Current Year (net of decr for enrich) 86,992,564 5711 Four-Cent Enrichment Revenue 3,479,703 5712 Taxes Prior Year 400,000 5719 Taxes Prior Year - Penalty & Interest, Other 300,000 5736 Pay-To-Ride Fees 800,000 5746 TIF Project Cost 6,700,000 575X Child Nutrition 3,244,257 57XX Other Local 3,575,999 Total Local Revenue (including enrichment) 105,492,523 5811 State ASF 3,541,338 5812 State FSP 3,353,620 5831 TRS On-behalf 3,582,992 58XX Other State Revenue 2,000 Total State Revenue 10,479,950 5946 BAB Rebates 2,020,564 59XX Other Federal Revenue 250,000 Total Federal Revenue 2,270,564 79XX Total Other Resources 2,226,257 Total Revenue 120,469,294 √ Excellence √ Relationships √ Character & Integrity √ Innovation √ Open & Honest Communication √ Compassionate Service
Proposed 2018-19 Budget General Fund Expenditures 11 Instructional 44,692,912 12 Media & Library 1,091,548 13 Staff Development 1,081,054 21 Instructional Leadership 556,371 23 School Leadership 4,036,309 31 Guidance & Counseling 3,439,640 33 Health Services 770,471 34 Pupil Transportation 2,410,193 35 Food Service 3,381,735 36 Extra/Co-Curricular 3,889,757 41 General Administration 3,901,831 51 Maintenance & Operations 8,168,780 52 Security & Monitoring 284,167 53 Data Processing 1,852,376 75,418 61 Community Service 81 Capital Outlay - 91 Chapter 41 Payment 32,736,725 97 TIF Payment 7,700,000 99 Other Intergovernmental Charges 600,000 Operating Transfers 2,226,257 Total Expenditures, Transfers, & Use of Fund Balance 122,895,544 √ Excellence √ Relationships √ Character & Integrity √ Innovation √ Open & Honest Communication √ Compassionate Service
2018-19 Proposed Budget General Fund Summary Total Revenues 120,469,294 Total Expenditures 122,895,544 Net Projected Change in Fund Balance (2,426,250) √ Excellence √ Relationships √ Character & Integrity √ Innovation √ Open & Honest Communication √ Compassionate Service
Proposed 2018-19 Budget DEBT SERVICE FUND • Total revenue projection at I&S tax rate of $0.3450 per $100 = $30,831,521. • Debt obligations of $30,000,112 plus estimated fees of $300,000 for a total expenditure projection of $30,300,112. This debt obligation total includes the second sale of 2017 bonds this September of $69M. • CISD does not qualify for Instructional Facilities Allotment (IFA) or Existing Debt Allotment (EDA) from state funding. √ Excellence √ Relationships √ Character & Integrity √ Innovation √ Open & Honest Communication √ Compassionate Service
Proposed 2018-19 Budget Debt Service Fund Revenues I&S Collections - Current Year Taxes @ 0.345 [514.00.5711] 30,531,521 Estimated Prior Year Collections [514.00.5712] 100,000 Estimated Prior Year Penalties & Interest, other [514.00.5719] 100,000 Interest Earnings [514.00.5742] 100,000 I&S Hold Harmless Funds from State [514.00.5829] 0 TOTAL REVENUES 30,831,521 Expenditures Bond Principal (scheduled payments) [514.71.6511.01] 16,983,909 Bond Interest (scheduled payments) [514.71.6521] 13,016,203 Bond Fees [514.71.6599] 300,000 TOTAL EXPENDITURES 30,300,112 Net I&S Revenue/(Expenditures) - Per Current Debt Schedule 531,409 √ Excellence √ Relationships √ Character & Integrity √ Innovation √ Open & Honest Communication √ Compassionate Service
The Journey To Excellence Begins Today. . . √ Excellence √ Relationships √ Character & Integrity √ Innovation √ Open & Honest Communication √ Compassionate Service
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