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Noblesville Schools2014 BUDGET PRESENTATION
Budget - A systematic plan for the expenditure of a usually fixed resource, such as money, during a given period. The total sum of money allocated for a particular purpose.
2014 BUDGET General Fund
Operating Referendum Fund
Debt Service Funds – (2)
Capital Projects Fund
Transportation Operating Fund
Bus Replacement Fund
Rainy Day Fund
Noblesville SchoolsBudget Preparation
Noblesville Schools
2014 Budget Presentation
2014 BUDGET
General Fund $ 60,847,180
58.60%
Debt Service Funds – Exempt / Non-Exempt
$ 19,325,164
18.61%
Capital Projects Fund $ 8,815,118
8.49%
Referendum Operating Fund $ 6,786,068
6.54%
Transportation Operating Fund $ 5,200,480
5.01%
Bus Replacement Fund $ 1,530,000
1.47%
Rainy Day Fund $ 1,325,350
1.28%
Total $ 103,829,36
0
100.00%
Noblesville Schools2014 Budget Presentation
STATE SUPPORTED FUND
General Fund
Required By I.C. 20-40-2
(Accounting for all receipts and disbursements for current
operating purposes excluding student transportation.)
Noblesville Schools2014 Budget Presentation
General Fund - Sources of Revenue
State Funding Formula – Based on Student Enrollment
Kindergarten Grant – Based on Student Enrollment
Summer School Funding - Reimbursement
Investment Earnings – Interest Income
Facility - Rental Income
Noblesville Schools2014 Budget Presentation
Source of Revenue2014
Estimate Percentage
State Funding Formula $ 55,236,256 98.700%
Summer School Reimbursement $ 225,000 0.4020%
Investment Income $ 30,000 0.0536%
Facility Rental $ 75,000 0.1340%
Student Fees & Miscellaneous $ 400,022 0.7148%
Totals $ 55,966,278 100.00%
General Fund Estimated Revenues
2013 2014 Inc./Dec. %
1. Tuition Support $45,007,369
$47,976,424
2. Academic Honors 196,200 218,000
3. Special Education 4,811,738 4,811,738
4. Voc. Education 325,550 325,550
5. Full Day Kindergarten 1,920,000 1,904,544
6. Prime Time 1,365,056 0
Net State Support $53,625,913
$55,236,256
$1,610,343
3.00%
Noblesville Schools2014 Budget Presentation
Funding Comparison – 185 Additional Students
2013 – 2014 Actual 9,354.5 1852012 – 2013 Actual 9,170.0 1622011 – 2012 Actual 9,008.0 2062010 – 2011 Actual 8,802.0 1882009 – 2010 Actual 8,613.5 2552008 – 2009 Actual 8,358.5 1862007 – 2008 Actual 8,172.0 2442006 – 2007 Actual 7,928.0 485
2.05%1.84%2.39%2.19%3.05%2.28%3.08%6.52%
Noblesville Schools2014 Budget Presentation
Student Enrollment – ADM (Average Daily Member.)
2008 2009 2010 2011 2012 20137800800082008400860088009000920094009600
8358.5
8613.58802
90089170
9354.5
5 Year Growth in ADM – 996 Students (11.92%)
Noblesville Schools2014 Budget Presentation
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 20130
100020003000400050006000700080009000
10000
6,863
9,355
10 Year Growth in ADM – 2,492 Students (36.3%)
Noblesville Schools2014 Budget Presentation
Noblesville Schools
Academic Achievement, 81%
Std Inst Support, 7%Overhead,12%
General Fund Budget $60,847,180
2014 Budget Presentation
Noblesville Schools
Salaries Benefits Purch Serv
Supplies Other 0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%68.5%
22.5%
4.5% 4.2%0.3%
General Fund Budget $60,847,180
2014 Budget Presentation
Local Tax Supported Funds
Debt Service Fund
Capital Projects Fund
Transportation Operating Fund
Bus Replacement Fund
Referendum Operating Fund
Referendum Debt Exempt Capital Fund
Noblesville Schools2014 Budget Preparation
Noblesville Schools2014 Budget Presentation
Impacting 2014 Tax Supported Funds
Net Assessed Valuations – Real & Personal Property
Circuit Breaker Loss – Tax Caps
Noblesville Schools2014 Budget Presentation
Property Tax Assessed ValuationBudget
YearNet Assessed
ValuationPercentage
Increase
2014 – Est. $ 2,470,062,500 1.00%
2013 $ 2,445,606,389 0.18%
2012 $ 2,441,132,994 1.89%
2011 $ 2,395,761,297 1.36%
2010 $ 2,363,595,005 1.03%
2009 $ 2,339,534,508 (19.39%)
2009 2010 2011 2012 2013 2014 2,250,000,000
2,300,000,000
2,350,000,000
2,400,000,000
2,450,000,000
2,500,000,000
1.3%
1.36%
1.89% 0.18%
1.0%
Noblesville Schools2014 Budget Presentation
5 Year Growth in A.V. – (5.73% vs. 11.92% Std)
Noblesville Schools2014 Budget Presentation
Fund Advertised Tax Levy
Circuit Breaker
Loss - (2013)
Debt Service Fund $ 16,057,297 $ 2,232,548
Capital Projects Fund $ 7,838,522 $ 1,089,840
Transp. Operating Fund $ 4,634,628 $ 644,382
Bus Replacement Fund $ 1,191,708 $ 165,690
Referendum Operating Fund $ 6,303,917 Not Applicable
Referendum Capital Debt Fund $ 5,185,163 Not Applicable
Totals $ 41,211,235 $ 4,132,460
Circuit Breaker Loss – Tax Caps
Noblesville Schools2014 Budget Presentation
Budget Year Levy
CircuitBreaker
NetLevy
CircuitBreaker %
2010$
26,408,447$ 3,046,504 $
23,361,943 11.5%
2011$
26,571,388$ 3,260,916 $
23,310,472 12.3%
2012$
26,166,505$ 3,663,360 $
22,503,145 14.0%
2013$
27,603,560$ 4,132,460 $
23,471,100 15.0%
Totals $ 106,749,900
$ 14,103,240
$ 92,646,660 13.2%
Circuit Breaker - History
Local Tax Supported Funds
Debt Service Fund
Capital Projects Fund
Transportation Operating Fund
Bus Replacement Fund
Referendum Operating Fund
Referendum Debt Exempt Capital Fund
Noblesville Schools2014 Budget Preparation
Noblesville Schools2014 Budget Presentation
Debt Service Funds - $19,325,164 Budget
NHS Ref Cap WMS NC WR MS-GO EMS NE Temp Ln
Txt BK0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%31.8%
23.1%21.2%
7.5%6.2%4.5% 3.3%1.8%
0.5%0.1%
-
5,000,000
10,000,000
15,000,000
20,000,000
25,000,000
17.6
19.7 19.9
18.6
11.7
11.1 11.8 12.1
6.9
4.2
High SchoolNorth Elm
West M.S.Noble Cross-ing
White River Elm
East M.S.
Noblesville Schools2014 Budget Presentation
Debt Service Funds – Payment Amortization
Local Tax Supported Funds
Debt Service Fund
Capital Projects Fund
Transportation Operating Fund
Bus Replacement Fund
Referendum Operating Fund
Referendum Debt Exempt Capital Fund
Noblesville Schools2014 Budget Preparation
Noblesville Schools2014 Budget Presentation
Capital Projects - Funding Concerns
Funding Technology:
Student Population Increasing - 11.92% in 5 YearsOne–To–One Implementation
Maintaining Facilities:
Additional 200,000 Square Feet in Past 3 Years – 10% Increase
Revenue Shortfall:
Revenue Flat Lined Over Past 5 Years
2005 2006 2007 2008 2009 2010 2011 2012 2013 -
1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 6,000,000 7,000,000 8,000,000 9,000,000
10,000,000
6.0
6.8
7.1
8.7
6.1
6.3
5.9 5.4
5.9
Noblesville Schools2014 Budget Presentation
Capital Projects Fund – Tax Levy Revenue
Noblesville Schools2014 Budget Presentation
Program Budget %Technology – Equipment & Ser. $ 3,226,000 36.6%
Land Acquisition & Prof. Services $ 750,000 8.5%
Utilities & Property Insurance $ 1,342,193
15.2%
Maintenance of Facilities / Rental $ 1,039,750 11.8%
Maintenance of Equip. $ 807,300 9.2%
Purchase of Equip. $ 695,000 7.9%
Installment Contracts $ 304,875 3.6%
Sports Facilities / Other $ 650,000 7.3%
Capital Projects Fund – $8,815,118
Local Tax Supported Funds
Debt Service Fund
Capital Projects Fund
Transportation Operating Fund
Bus Replacement Fund
Referendum Operating Fund
Referendum Debt Exempt Capital Fund
Noblesville Schools2014 Budget Preparation
Admin.7.3%
Vehicle Oper. 56.5%
Monitor-ing Ser.
9.2%
Training0.5%
Vehicle Maint. 25.4%
Insur.1.7%
Con-tract
Ser,0.2%
Noblesville Schools2014 Budget Presentation
Transportation Fund - $5,200,480
Noblesville Schools2014 Budget Presentation
Bus Replacement Fund
Replacement Budget $1,530,000
Noblesville Schools2014 Budget Presentation
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 $-
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$1,530,000 $1,501,200
$147,300
$2,654,400
$2,152,600
$1,600,000 $1,572,000
$730,800
$1,183,600
$1,479,000
$1,166,000
$1,004,000
Bus Replacement Schedule – By Annual Cost
Local Tax Supported Funds
Debt Service Fund
Capital Projects Fund
Transportation Operating Fund
Bus Replacement Fund
Referendum Operating Fund
Referendum Debt Exempt Capital Fund
Noblesville Schools2014 Budget Preparation
Aca-demic
Achievement
75.90%
Std Inst Support9.28%
Over-head
14.82%
Noblesville Schools2014 Budget Presentation
Operating Referendum Fund - $6,786,068
Noblesville Schools2014 Budget Presentation
Program Budget %
Transportation Operational Cost
$ 825,350 62.3%
Capital Expenditures $ 500,000
37.7%
Totals $ 1,325,350
100.0%
Rainy Day Fund
Noblesville Schools2014 Budget Presentation
FundAssessed
Value Adv. Levy Est. Levy
Non-Exempt Debt $ 2,470,062,453 $ 16,057,297
$ 16,057,297
Capital Projects $ 2,470,062,453 $ 7,838,522
$ 7,266,265
Transportation Oper. $ 2,470,062,453 $ 4,634,628
$ 4,365,706
Bus Replacement $ 2,470,062,453 $ 1,191,708
$ 991,131
Referendum Oper. $ 2,711,562,453
$ 6,303,917
$ 5,814,265
Exempt Debt $ 2,711,562,453 $ 5,185,163
$ 5,185,163
Totals $ 41,211,235
$ 39,679,830
Property Tax Levies
Noblesville Schools2014 Budget Presentation
Fund2013Actual
2014 Advertised
2014 Projected
Total Tax Levy $ 36,456,491
$ 41,211,235
$ 39,679,830
Assessed Valuation $ 2,445,606,389
$ 2,470,062,453
$ 2,484,192,919
Change In A.V. 1.00% 1.578%
Tax Rate $ 1.4584 $ 1.6269 $ 1.5546
Property Tax Levies
Updated Values – Oct. 7th AmountProjected A.V. Increase of 1.578% $ 2,484,192,919
Additional TIF A.V. $ 264,868,467
Noblesville Schools2014 Budget Presentation
Additional Consideration For 2014
Tax Anticipation Warrants
Noblesville Schools2014 Budget Presentation
Budget Adoption Meeting
October 29, 2013
Noblesville Schools
SUMMARY COMMENTS
Student EnrollmentConsistent Growth Averaging 2.4% Over 5 Years
Property Tax Assessed ValuationModest Positive Growth Averaging 1.2% Over 5 Years
Increasing Operational CostStudent Growth Exceeding Assessed Valuation Growth
Circuit Breaker / Tax CapsFlat Lining Local Property Tax Revenue