April 8, 2015-Budget Committee Meeting

2015-16 Budget Overview and

Discussion

ODE – Oregon Department of EducationSSF – State School FundADM – Average Daily MembershipADMw – Average Daily Membership Weighted

Acronyms

Budget Committee Reviews, modifies, and finally approves the proposed budget. Establishes the maximum property tax levy rate or dollar

amount.District

Files Approved Budget with TSCC by May 15Board

Adopts Budget and Enacts Resolutions by June 30 Limited to changes, within a fund, of not more than $5000 or

10%, with exceptions.District

Files Adopted Budget and Response to Certification Letter within 15 days after budget adoption

Levy Certification filed with County Assessor’s Offi ce by July 15 Budget Document filed with County Clerk by September 30

Budget Process Overview

Meet publically to review the proposed budget document.

Provide an opportunity for the public to ask questions and comment on the budget.

Approve the budget with all funds in balance.Approve the maximum rate or dollar amount of

property taxes.

Budget Committee: Offi cial Duties

We currently have 9 Active and Independent Funds

General Fund Food Service Federal Funds Capital Projects Debt Service

Early Retirement Student Body Bus Replacement Energy Projects

Fund Structure

Functions Objects Functions define the

WHO For each transaction

we need to know for whom amount is being recorded. 1000 Instruction

1111 K-2 Classroom 2000 Support Services

2410 GS Principal

Objects define the WHAT

For each transaction we need to know what the transaction records. 0100 Salaries

0111 Certified 0200 Associated PY

Costs 0220 FICA/Medicare

0400 0410 Supplies

Functions and Objects

A Balanced Budget

Beginning Fund Balance

+ Revenue

+ Transfers In

- Transfers Out

- Expenditures

- Contingency

= Ending Fund Balance

Resources

Requirements

Beginning Fund Balance

The budgeted Beginning Fund Balance is an estimate of how much each fund will have remaining once the prior year has come to a close.

Once the prior year has been audited, the financials are updated with the actual amount.

Revenue

Revenue is categorized into the following: Local Sources

Taxes Tuition

Intermediate Sources County School Funds Medicaid Administrative Claiming

State Sources State School Fund Some Grants

Federal Sources IDEA Funds Title Funds

Most revenue estimates are captured from data provided by the source agency. Some estimates are based on prior year data and program usage.

Transfers

Transfers are how we move money between funds. Often this means a transfer from the General Fund to another, dependent fund, such as Early Retirement Projects, or the Bus Replacement Fund.

The Transfers In and Transfers Out for the District budget should always match.

Expenditures

All the spending for the district. Includes personnel, debt service payments, supplies, insurance, equipment, and many, many other things.

Contingency

Contingency is how we allow ourselves to increase our expenditure budget, in the event that we have unfunded, yet necessary changes.

Contingency is never spent. Instead, the Board could approve an increase in the expense budget and a decrease in contingency as needed.

Ending Fund Balance

The Ending Fund Balance is the amount left over for use in the following fiscal year.

An Ending Fund Balance of 3-5% of the total requirements is advisable. This percentage can be more depending on unknown economic conditions during budget preparation.

ODE Formula Revenue

Local Sources Property Taxes Common School Fund County School Fund

State School Fund Includes Transportation

Grant

Other Revenue

TuitionDonationsESD TransitsFederal RevenueHigh-Cost DisabilityOther Grants

Where does our funding come from?

March 31, 2015 $4,172 Small High School Grant $25,044 High Cost Disability

2013-14 Revenue Adjustments

Expect to receive this adjustment in May 2015

2015-16 ODE ADMw Estimate

2015-16 CSD ADMw Estimate

1,266.00

10.00

0.00

108.00

0.00

27.50

0.75

0.00

0.00_________

$1412.25

CSD Estimate

Estimate Date: March 23, 2015Based on $7.235 Billion Co-Chair's Budget with 50/50

split

2015-16 ODE SSF Estimate

Estimate Date: March 23, 2015Based on $7.235 Billion Co-Chair's Budget with 50/50

split

Using the Funding Formula, an estimated $301k in Transportation Grant, and our internal estimate of ADMw we should prepare for the following: Total Formula Revenue: $9,972,718 Per ADMw Funding: $7,062

2015-16 CSD SSF Estimate

1412.2

5

Fiscal Year ADMw Revenue (District Only)

Per ADMw

2016-17 1412.25.. $ 9,972,718 $ 7,062

2015-16 1412.25.. 9,972,718 7,062

2014-15 1425.78* 9,888,169 6,935

2013-14 1019.06* 6,950,760 6,821

2012-13 . .960.04* 6,009,233 6,259

Historic Total Formula Revenue

Thanks to our wise legislatures, 2015-16 and 2016-17 each get 50% of the total biennial revenue. This means if given the same ADMw, we receive NO funding increases. Meaning… costs go up, but funding does not.

*Includes Small High School Funding

Resources

TSCC Website Publications(Tax Supervising and Conservation Commission) http://www.tsccmultco.com/publications.html

Oregon Department of Education : District SSF http://www.ode.state.or.us/search/results/?id=344