DAINGERFIELD-LONE STAR INDEPENDENT SCHOOL DISTRICT

Budget HearingAugust 18, 2014

CAMPUS RESPONSIBILITIES • Develops goals and planning objectives

for the campus and its programs

• Establishes funding priorities for resource allocations and ensures consistency with campus improvement plans, instructional goals and objectives, and other planning needs

• Prepares preliminary campus budget

• Principals and directors provide advisory review of preliminary budget

ADMINISTRATOR RESPONSIBILITIES• Develops and communicates budget process

guidelines and calendar

• Develops district revenue estimates

• Compiles and reviews personnel staffing needs

• Compiles all school budgets into proposed district budget

• Submits proposed district budget to school board

BOARD RESPONSIBILITIES

• Reviews/prioritizes/revises proposed budget submitted by superintendent and staff in workshops/working sessions

• Conducts public hearings for budget consideration

• Adopts official budget and tax rate

DISTRICT FINANCIAL PLANA school district’s budget is a financial plan, but in practice it actually comprises three individual plans…

• Educational Plan

• Revenue Plan

• Expenditure Plan

THE EDUCATIONAL PLAN

The budget supports the mission and strategic plan of the district, including:• District Goals

• Campus Improvement Plans

• Long-range Plans

• Guide for Priority Spending

THE REVENUE PLAN

State10%

Federal 6%

Local81%

Other 3%

The estimated income expected from three major sources of revenue – approved budget

THE EXPENDITURE PLANThe detailed part of the budget that provides an audit trail for revenues• Fund – where the revenue comes from

• Function – why the revenue is spent

• Object – what is purchased

• Program Intent – mandated state allotment spending

BUDGET BY FUND

A fund is a self-balancing set of accounts recording financial resources and liabilities. A district designates the fund’s financial resources for a distinct purpose.

M & O82%

I & S7%

Special Revenue11%• General Fund – M & O

• Special Revenue

• Food Service

• Sp Ed SSA

• Interest & Sinking – Bonded Debt

BUDGET BY OBJECT(What types of items are purchases or services obtained)

• 6100 – Payroll Costs

• 6200 – Contracted Services

• 6300 - Supplies

• 6400 - Other Operating Expense

• 6500 – Debt Service

• 6600 – Capital ExpensePayro

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Supplies

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Capita

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Transf

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ut0.00%

10.00%

20.00%

30.00%

40.00%

50.00%

60.00%

70.00%

80.00%

67.09%

10.87%8.10%

2.69%7.12%

1.31%2.82%

DEBT SERVICE• Interest & Sinking Fund

• Accounts for bonded indebtedness

• Two outstanding bond issues

• DLSISD U/T Series 2010, maturing in 2021

• Unlimited Tax Qualified School Construction Bonds, Taxable Series 2012, maturing in 2027

• Total 2014-2015 debt payments • $768,399 Series 2010 Bonds

• $55,000 QSCB Sinking Fund Payment

UNDERSTANDING FUND BALANCEFund Balance is simply total assets minus total liabilities and encumbrances – your

net worth.

The following examples illustrate why it is important to maintain an adequate level of unreserved fund balance…

• Catastrophic and uninsured losses• Investment Income• Credit and bond rating• Cash flows for normal school operations• Shortfalls in one or more revenue sources• Capital improvements• Last-minute legislation!

Undesignated Fund Balance – 2012/13EOFY - $3,430,834

Assigned Fund Balance – 2012/13 EOFY - $350,000

HISTORICAL FUND BALANCE AND ENROLLMENT

0

200

400

600

800

1000

1200

1400

1600

1800

$0.00

$500,000.00

$1,000,000.00

$1,500,000.00

$2,000,000.00

$2,500,000.00

$3,000,000.00

$3,500,000.00

$4,000,000.00

$4,500,000.00

Fund BalanceEnrollmentTotal Staff

Demographic Information• Student Enrollment: 1,132• Employee Count: 206• Economically Disadvantaged: 79.24%• Ethnicity Breakdown

– Hispanic: 17.31%– African American: 40.81%– White: 37.19%– Other: 4.69%

• Revenue per WADA: $5,141.70

BUDGET SUMMARY

Revenues: General Fund Food ServiceShared Service Arrangement Debt Service Total

5700 Revenues from Local and Intermediate Sources 8,410,599.00 113,100.00 227,181.00 843,401.00 9,594,281.00 5800 State Program Revenues 1,141,258.00 4,100.00 19,916.00 1,165,274.00 5900 Federal Program Revenues 175,000.00 572,475.00 747,475.00 7000 Other Resources/Non-Operating Revenues 10,000.00 324,350.00 334,350.00

TOTAL REVENUES 9,726,857.00$ 699,675.00$ 571,447.00$ 843,401.00 11,841,380.00$

Expenditures:00 Other Uses/Non-Operating Expenses 334,350.00 334,350.00 11 Instruction 4,722,488.00 170,937.00 4,893,425.00 12 Instructional Resources and Media Services 143,427.00 143,427.00 13 Curriculum and Instructional Staff Development 34,487.00 34,487.00 21 Instructional Leadership 35,187.00 112,233.00 147,420.00 23 School Leadership 571,821.00 571,821.00 31 Guidance, Counseling, and Evaluation Services 327,303.00 281,277.00 608,580.00 32 Social Work Services 6,695.00 6,695.00 33 Health Services 81,239.00 81,239.00 34 Student (Pupil) Transportation 555,607.00 555,607.00 35 Food Services - 699,675.00 699,675.00 36 Extracurricular Activities 795,481.00 795,481.00 41 General Administration 486,461.00 486,461.00 51 Plant Maintenance and Operations 1,100,337.00 7,000.00 1,107,337.00 52 Security and Monitoring Services 48,045.00 48,045.00 53 Data Processing Services 239,929.00 239,929.00 61 Community Services 4,000.00 4,000.00 71 Debt Service - 843,401.00 843,401.00 81 Facilities Acquisition and Construction - - 91 Contracted Instructional Services Between Public Schools - - 99 Other Intergovernmental Charges 240,000.00 240,000.00

TOTAL EXPENDITURES 9,726,857.00$ 699,675.00 571,447.00 843,401.00 11,841,380.00$

Difference in Revenues/Expenditures -$ -$ -$ - -$

TAX SUMMARY

• Current Taxable Value - $766,109,163

• Current Tax Rate - $1.154599 per $100 valuation

• Current Levy - $8,845,488.74 (after adjustments)

• Current Collections (as of June 30, 2014) - $8,687,711.96

• Estimated Collection 7/01/2014-9/30/2014 - $50,000

• Percent of Collections – 97.33%

• Next Yr’s Taxable Value - $804,432,635

• Next Yr’s Proposed Tax Rate - $1.154599 per $100 valuation

HISTORICAL TAX RATESCHOOL

YEARM & O RATE

I & S RATE

TOTAL TAX RATE

2000/01 1.346800 0.000000 1.3468002001/02 1.329300 0.120700 1.4500002002/03 1.500000 0.130900 1.6309002003/04 1.500000 0.138600 1.6386002004/05 1.500000 0.131800 1.6318002005/06 1.500000 0.131800 1.6318002006/07 1.370000 0.126100 1.4961002007/08 1.040050 0.104600 1.1446502008/09 1.040050 0.113675 1.1537252009/10 1.040050 0.114235 1.1542852010/11 1.040000 0.110188 1.1501882011/12 1.040000 0.101636 1.1416362012/13 1.040000 0.115000 1.1550002013/14 1.040000 0.114599 1.1545992014/15 Proposed 1.040000 0.114599 1.154599

TAX RATE COMPARISON(Required Newspaper Ad)

This Yr Next Yr

• Avg. Mkt. Value of Home $62,675 $63,396

• Avg. Taxable Value $30,184 $29,652

• This Yr Rate/Next Yr Rate 1.154599 1.154599

• Taxes Due on Avg. Residence $348.50 $342.36

• Increase (Decrease) in Tax ($ 6.14)

Success is not final, failure is not fatal, it is the courage to continue that counts.

-Winston Churchill

Questions???

Thank you for your attendance!