SCHOOL FINANCE BASICS:Everything Your Superintendent Wished You

Knew

Presented at the

MI School Public Relations Association

Summer Drive-In Conference

June 25, 2014

Mike Hagerty, Kent ISD

Robert K Dwan, Michigan School Business Officials

Today’s Agenda . . .

o 9:00 am –9:00 am – 10:15 am10:15 amo Proposal A o Foundation allowance o School aid revenueo School aid appropriationso Special education fundingo Types of schoolso MPSERS costs

o 10:15 am – 10:30 am - Break10:15 am – 10:30 am - Break o 10:30 am – 11:30 am10:30 am – 11:30 am

o Finish topicso Small group discussion

Quiz time!!

1. Proposal A passed in what year?

2. What is the percentage change in K-12 employment the past twelve years?

3. When running a bond campaign, a district may use the slogan “vote yes”?

4. What is the dollar amount of the school aid fund?

5. How many K-12 pupils are in MI?

A Local District Perspective

State-wide Comparison of General Fund Expenditures:

Food Service Fund2013-14

2013-14

Revenues $ 1,057,110

Expenditures 1,086,916

Net Change ( $29,806)

Ending Fund Balance $ 97,469

Campaign Do’s and Dont’s…

Do’s and Don’t’s continued…

Projected SAF Growth

What does that mean per pupil

Net increase after MPSERS off-set

At a foundation allowance of $7,251, a $100 foundation increase = 1.4%

State Aid Payments

SCHOOL FINANCE RESOURCES

o Michigan School Business Officials o House Fiscal Agencyo Senate Fiscal Agencyo District transparency reportso CEPI

Small group breakout . . .

o As a group, discuss…As a group, discuss…

o Something you have learned today that you can Something you have learned today that you can take back to your districttake back to your district

o Share a best practice from your district with your Share a best practice from your district with your groupgroup

QUESTIONS ?

Mike Hagerty, Kent ISDmikehagerty@kentisd.org

616-365-2218

Robert K Dwan, MSBO rdwan@msbo.org

517-327-2581