School District 2017-2018 Original Budget October 24, 2017 Change - PowerPoint PPT Presentation

Kettle Moraine School District 2017-2018 Original Budget October 24, 2017

Change in Revenue Limit 2016-17 $37,992,291 2017-18 $37,566,160 ($ 426,131) • Revenue Limit lowest since 2004-05

Maximum Revenue Per Member (Revenue Limit)

How does that (Maximum Revenue per Member) equate to dollars available for KMSD to operate with? • Revenue Limit = Max. Revenue/Member x Membership • $11,631/Member(Elmbrook(highest)) vs. $9,870 (KMSD) The ($1,761) difference x 3,627 (KMSD) members = $6.3M Less per *$5.0M less per year than New Berlin (2 nd Highest) year for Operating • $10,378/Member(County(average)) vs. $9,870 (KMSD) The ($508) difference x 3,627 (KMSD) members = $1.8M Less per year for Operating Consider the Cumulative effect…

Reasons for change in Revenue Limit; Declining enrollment (1.8%) (67) Less FTE for Revenue Limit calculation Allowed per member $0

Change in Tax Levy 2017-18 Tax Levy $36,127,978 2016-17 Tax Levy $35,539,812 Variance $ 588,166

Reasons for Change in Tax Levy (15.07%) Decrease in State Aid ($1,031,612) Lowest since 1995-96* (1.12%) Reduction of Revenue Limit ($ 426,131)

Kettle Moraine State Aid Property Tax Relationship between Kettle Moraine State Aid and Property Tax 45,000,000 40,000,000 35,000,000 30,000,000 25,000,000 PROPERTY TAX 20,000,000 STATE AID 15,000,000 10,000,000 5,000,000 - 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18

Change in Levy Rate 2017-18 Levy Rate $10.08 2016-17 Levy Rate $10.31 Variance ($ 0.23)

Reasons for Change in Levy Rate 3.9% Increase in Equalized Value As the district’s property value (denominator) increases and the tax levy (numerator) increases (modestly), the levy rate decreases. Tax Levy x 1,000 = Levy Rate . Property Value

Balancing the Budget • 2017-18 Reduce Committed Fund Balance by ($1,033,356) • Currently $3.2 million is Committed in Fund Balance to support the payment of expiring Post Employment Benefits • The fund balance remaining will be approximately 24.0% of general fund expenditures

2017-18 Budget Highlights General Fund • Retirement related expenditures • $3.2 million Committed Fund Balance is sufficient to pay off the district’s post employment liability • Open Enrollment into KMSD is at a 3 to 1 ratio of Transfers-In vs. Transfers-Out • Coding Language (Code to the Future) instruction implemented in Grades K-6 • Upgrades to Wireless Network Infrastructure to enhance technology experience (and capture Federal E-rate Funding)

Updates on Remaining Funds Special Education -Increasing costs (a number of new high cost students) & Decreasing funding Debt Service -Debt Defeasance (pre-payment) incorporated

Updates on Remaining Funds Capital Projects Fund Referendum work complete; remaining balance of funds slated for additional restroom renovations Food Service Fund Work done within budget (self-sustaining program) Community Education Fund Work done within budget (self-sustaining program)

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