REDMOND SCHOOL DISTRICT 2019-2020 Proposed Budget Looking Through - PowerPoint PPT Presentation

REDMOND SCHOOL DISTRICT 2019-2020 Proposed Budget “Looking Through the Lights” by Skyler Abbas, Ridgeview High School MAKING SUCCESS POSSIBLE FOR EVERY STUDENT

RSD Strategic Priorities

2019-20 Proposed Budget Overview Fund Description 19-20 Budget % of Total 100 General Fund $86,019,700 73.6% 200 Special Revenue Funds $12,245,300 10.5% 300 Debt Service $17,281,500 14.8% 400 Capital Projects $ 67,400 0.1% 600 Internal Service Fund $ 987,200 0.8% 700 Trust & Agency $ 267,600 0.2% Total Budget $116,868,700 100.0%

2019-20 Proposed Budget – All Funds – $116,868,700

2019-20 Proposed Budget – Grant Funds – $5,103,200

2019-20 Proposed Budget – Debt Service – $17,281,500

2019-20 Proposed Budget – District Tax Rate Rate/$1,000 TAV

Redmond School District – Outstanding General Obligation Bonds Amount Date of Date of Amount Issue Purpose Outstanding Issue Maturity Issued as of 6/30/19 Series 2004A* New school construction and renovation 06/15/04 06/15/21 $18,110,000 $330,000 and refunding of FFCO Series 2004B New school construction and renovation 06/16/04 06/15/24 $18,487,977 $7,092,083 and refunding of FFCO Series 2008A* New school construction and renovation 12/23/08 06/15/16 $72,530,000 - Series 2008B New school construction and renovation 12/23/08 06/15/31 $37,467,881 $28,398,448 Series 2012 Advance refunding of Series 2004A 06/28/12 06/15/21 $3,650,000 $3,650,000 bonds Series 2013 Advance refunding of Series 2008A 01/29/13 06/15/34 $62,905,000 $59,945,000 bonds Total General Obligation Bonds $99,415,531 * Refunded

2019-20 Proposed Budget – Bond Rate & Taxable Assessed Value (TAV) Bond Rate/$1,000 TAV

2019-20 Proposed Budget – Contingency & Unappropriated Reserves $8,526,300 – 8.1% of Revenues

2019-2021 Education Funding – Legislative Update

HB 3427 – Student Success Act New Tax Revenue Student Success Fund Biennial Appropriations or Transfers to the State School Fund 20% 50% 30% Early Learning Student Investment Statewide Initiative Account Account Account

HB 3427 – Student Success Act Early Learning • Fully fund EI/ECSE Account • Expand OPK, Head Start, Preschool Promise • Culturally specific early learning, relief nurseries $190 Million Student • Additional instructional time • Student health & safety, incl. social & Investment emotional Account • Reducing Class Sizes • Well rounded education program $475 Million Statewide • Fully fund Measure 98 Initiative Account • Fund universal school meals • Double High Cost Disability Grant $285 Million

PERS – Legislative Update

PERS – Legislative Update Business Community Governor’s Plan Technical Fixes Ballot Measures “Everyone Sacrifices “Kick the Can” Something” “Negotiating Leverage” • School District Offset • Lengthening the • 401(k)-style option for Account amortization period new hires • Limit the personal kicker rebate • Freeze employer’s • All employees PERS contribution contribute toward • SAIF capital surplus rates at 25% benefits. Proposals • Redirect $1.6 B in are different but range revenues – extend to is 2.8% to 6% of salary. • Place conditions or 15 years limits on lowering • Tier I/II – Contribute assumed rate of return 3% to System • OPSRP – Contribute 1.5% to System

RSD 2019-20 Budget – Next Steps • Proposed Budget and Tax Rate Levies Approval • Budget Adoption School Board Meeting Redmond School District Office Wed, June 26, 2019 5:30pm “Golden Hour” by Genevieve Burke, Redmond High School