Rio Grande City CISD Rio Grande City, Texas Proposed Annual Budget

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2 Rio Grande City CISD Rio Grande City, Texas Proposed Annual Budget For Fiscal Year September 1, 2011 August 31, 2012

3 PROPOSED ANNUAL BUDGET TABLE OF CONTENTS Citizen's Guide to Our Budget..... Board of Trustees, Superintendent, and Finance Staff..... PAGE ii iii GENERAL OPERATING FUND (199) General Operating Fund and Debt Service Fund Proposed Annual Budget General Operating Fund - Major Revenues. 2-3 Statement of Revenues, Expenditures, and Changes in Fund Balance... 4 Estimated Revenues - General Operating Fund... 5 Summary of Total Revenue by Major Source... 6 Preliminary Estimate of State Aid (TEA State Template) Minimum Required Expense Analysis Budget Expenditures by Object Budget Expenditures by Function.. 11 CHILD NUTRITION PROGRAM Child Nutrition Program Fund Summary Fund Statement of Revenues, Expenditures, and Changes in Fund Balance DEBT SERVICE FUND Debt Service Fund Summary Fund Statement of Revenues, Expenditures, and Changes in Fund Balance. 15 Fund Statement of Revenues, Expenditures, and Changes in Fund Balance. 16 Fund Statement of Estimated Revenues Fund Statement of Estimated Revenues Outstanding Debt Schedule - Principal & Interest for Bond Loans SPECIAL REVENUE Summary of Special Revenue (information only) i

4 CITIZEN'S GUIDE TO OUR BUDGET WHAT IS A DISTRICT BUDGET? The District budget is an annually revised document that describes the financial performance and the detailed financial allocations made to maintain district operations for the proposed budget year. WHAT IS THE PURPOSE OF A BUDGET? The objective of the budget is to communicate the financial plan about district operations to the public, the Rio Grande City Consolidated Independent School District (RGCCISD) Board of Trustees, and all members of the organization for each budget year. WHAT ARE PROPERTY TAXES? Property taxes are funds that are levied, assessed and collected annually (ad valorem taxes) for the further maintenance of public schools in the district and to pay bonds issued by the school district. WHAT IS A TAX RATE? It is the amount of dollars levied per $100 of taxable value (after exemptions). The resulting amount is called Ad Valorem Taxes. WHAT IS AD VALOREM TAX? Ad Valorem Tax is the Property Tax (after exemptions) that is placed on all the property within the district's jurisdiction. The appraised value is determined by the Starr County Appraisal District. HOW ARE PROPERTY TAXES CALCULATED? The taxable value (after exemptions) divided by 100 and multiplied by the tax rate: Average Appraised Value $ 36,875 Less Homestead Exemption 15,000 Total Taxable Value $ 21,875 RGCCISD Tax Rate $ 21,875 $ x $ Total Property Tax Due = = $ 100 WHERE CAN I GET ADDITIONAL INFORMATION ABOUT RGCCISD AND THE DISTRICT BUDGET? Rio Grande City CISD Fort Ringgold Rio Grande City, TX ii

5 BOARD OF TRUSTEES, SUPERINTENDENT & FINANCE STAFF BOARD OF TRUSTEES Basilio D. Villarreal Cesar Gonzalez Noe R. Gonzalez Roberto Gutierrez President Secretary Member Vice-President Silvina Hinojosa Ruben Klein Leo Lopez Member Member Member SUPERINTENDENT & FINANCE STAFF Thelma Ramey Oneida Balderas Diana Robles-Méndez Lourdes M. Elizondo Juan Ruiz Asst. Supt. for Finance and Operations Compliance Auditor Accountant Supervisor Accountant Data Programmer Roel A. Gonzalez Superintendent of Schools iii

6 PROPOSED ANNUAL BUDGET FISCAL YEAR Difference of Estimated Transfers Appropriations Fund Description Revenues Appropriations (Out) / In & Transfers GENERAL FUNDS: 101 Child Nutrition Program 7,571,700 7,571,700 7,571, Operating Fund (G/Fund) 85,305,055 85,081,849 (223,206) 85,305,055 Total 92,876,755 92,653,549 (223,206) 92,876,755 DEBT SERVICE FUNDS: 513 Debt Service - Alto Bonito 376, , , , Debt Service - I & S 9,661,560 9,661,560 9,661,560 Total 10,038,429 10,261, ,206 10,038,429 Total 102,915, ,915, ,915,184 1

7 GENERAL OPERATING FUND MAJOR REVENUES Fiscal Year : The Revenues for the General Funds are $ 92,806,237. Non-cash Revenues are $ 3,484,256 which includes Teacher Retirement System payments. The net cash revenues for the District are $ 89,321,981. LOCAL REVENUES TAXES Property Taxes: Total assessed valuation For was $ 1,299,305,080 with a total current tax of $ The District levied $ 19, in fiscal year The maintenance and operation rate was $ 1.17 and the debt service rate was $ Fiscal Year : The District will budget 90% of the estimated tax levy. The proposed tax rate is $ (M&O $ 1.17 and I&S $ ) for a total estimated tax collection of $ 16,631,742 (M&O $13,197,773 and I&S $ 3,433,969). Prior Year Taxes: The District budgeted $900,000 for prior year taxes. The District contracts with a law firm to collect prior taxes. Collection efforts by the Tax Office include mail outs, working with the Tax Attorney to file suit on properties, and foreclosure. A 15% commission is charged by the law firm and passed through to the taxpayers for the years that a 15% fee was assessed. OTHER REVENUES RELATED TO TAXES (PENALTY & INTEREST) Fiscal Year : The District estimates to collect $ 1,050,000 for penalties, interest, tax certificates and attorney fees. INTEREST EARNINGS Fiscal Year : The District expects to continue to invest all of its available cash into liquid transactions. The District will continue to invest in bank certificates of deposits to utilize these funds to maximize its returns. Total interest earnings of $ 75,000 is reflected in the budget. 2

8 GENERAL OPERATING FUND MAJOR REVENUES STATE PROGRAM REVENUES AVAILABLE SCHOOL FUND Fiscal Year : The District's pupil projection is based on last year's ADA, plus 125 projected enrollment. The projected Refined Average Daily Attendance (ADA) is 9,998. It is projected that $ 2,428,758 will be generated for this year. FOUNDATION SCHOOL PROGRAM Fiscal Year : The projected ADA is 9,998. It is projected that $ 64,222,399 will be generated for this year. With the proposed tax rate, the District will generate the required amount in this fiscal year. FEDERAL PROGRAM REVENUES Fiscal Year : The District estimates to charge an administrative cost rate of % to the federal programs for this fiscal year. The General Fund utilizes this amount to fund administrative costs and services provided to the Federal programs. The budget for this year is estimated at $ 5,000. OTHER ON-BEHALF TRS PAYMENTS This revenue source is a non-cash transaction that the District is required to record on it books. The State of Texas and the Governmental Accounting Standards Board, Statement No. 24 mandates this requirement. This amount constitutes the amount of retirement payments (contributions) made by the State on behalf of the District for all of its employees. The intent of this transaction is to account for the entire cost of providing school services in the State of Texas. Fiscal Year : The projected amount for this year is $ 3,484,256. 3

9 RIO GRANDE CITY CONSOLIDATED INDEPENDENT SCHOOL DISTRICT STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE GENERAL OPERATING FUND (199) FOR THE FISCAL YEAR ENDED AUGUST 31, 2012 Revenues PROPOSED Local Sources 14,664,642 State Sources 70,135,413 Federal Sources 505,000 Total Revenues 85,305,055 Expenditures by Function 11 Instruction 44,362, Instructional Resources and Media Services 1,720, Curriculum Development & Instructional Staff Development 369, Instructional Leadership 1,070, School Leadership 4,798, Guidance, Counseling, and Evaluation Services 2,664, Social Work Services 18, Health Services 1,046, Student (Pupil) Transportation 3,612, Co-curricular/Extracurricular Activities 3,352, General Administration 3,308, Plant Maintenance and Operations 13,194, Security and Monitoring Services 1,990, Data Processing Services 284, Community Services 127, Debt Service - Principal on Long-Term Debt 420,518 Debt Service - Interest on Long-Term Debt Debt Service - Bond Issuance Cost & Fees 81 Facilities Acquisition and Construction 2,270, Other Intergovermental Charge 470,000 Total Expenditures 85,081,849 Excess/(Deficiency) of Revenues Over/(Under) Expenditures 223,206 Other Other Financing Sources (Uses): Transfers Out (Use) (223,206) Prior-Period Adjustment 0 Net Extraordinary Items (Resources) Net Changes in Fund Balance (0) 4

10 RIO GRANDE CITY CONSOLIDATED INDEPENDENT SCHOOL DISTRICT ESTIMATED REVENUES - GENERAL OPERATING FUND (199) FOR THE YEAR ENDED AUGUST 31, 2012 LOCAL SOURCES: PROPOSED Current Year Taxes 12,297,774 Delinquent Levy (Taxes, Prior Years) 900,000 Penalty & Interest Current Year 1,050,000 Interest Earnings - Investment Securities 145,518 Miscellaneous Revenues 271,350 Total Local Sources 14,664,642 STATE SOURCES: Available School Fund 2,428,758 Foundation School Fund 64,222,399 TRS on Behalf Benefit 3,484,256 Other State Revenue - Total State Sources 70,135,413 FEDERAL SOURCES: Indirect Costs Special Revenues 5,000 Medicaid Reimbursement (SHARS) 500,000 Total Federal Sources 505,000 TOTAL REVENUES 85,305,055 5

11 RIO GRANDE CITY CONSOLIDATED INDEPENDENT SCHOOL DISTRICT SUMMARY OF TOTAL REVENUES BY MAJOR SOURCE GENERAL OPERATING FUND (199) FOR THE FISCAL YEAR ENDED AUGUST 31, 2012 PROPOSED LOCAL REVENUES $ 14,664,642 STATE REVENUES 70,135,413 FEDERAL REVENUES 505,000 $ 85,305,055 TOTAL REVENUES BY MAJOR SOURCE FEDERAL REVENUES 0.59% LOCAL REVENUES 17.19% STATE REVENUES 82.22% 6

12 District Name: Rio Grande City CISD SB 1: & County-District No Release 3 Run Date: 9-Agu-11 7/20/2011 Summary of Finances - SB 1 School Year Basic Information Total Refined ADA (adj. for decline, if applicable) 9, Special Education FTE Career and Technology FTE Regular Program ADA 8, CPTD Property Value 1,294,662,975 Adjusted CPTD Property Value 1,294,662,975 Unadjusted Cost of Education Index Adjusted Cost of Education Index Total M&O Tax Collections 13,197,774 If "FORMULA" district, did the commissioner approve the use of % instead of the 92.39%? (if applicable, change N to Y) ASATR DIST N Program Intent Code 11 REGULAR PROGRAM 92.39% or % 44,011, Regular Special Education Block Grant 6,907,974 Other Special Education Allotments: 23 Mainstream Special Education Allotment 534, Residential Care & Treatment Allotment 0 23 State Schools Allotment 0 23 Non-public Contracts Allotment 0 Less: Charge for Dist. Share of ECI Project 0 22 Career and Technology Block Grant 5,156,573 Advanced Career & Technology Allotment 0 State Virtual School Network Student Allotment 0 State Virtual School Network Administrative Cost Allotment 0 21 Gifted & Talented Block Grant 317,926 Less: Charge for Dist. Share of AP Test 0 24/30 Compensatory Education Block Grant 10,317,005 24/30 Compensatory Ed Pregnant Allotment 48, Bilingual Education Block Grant 3,132, High School Allotment 732,050 Public Education Grant Allotment 0 New Instructional Facilities Allotment (NIFA) 0 99 Transportation 851,182 Total Cost of Tier I 72,009,951 LESS: Local Share 12,946,630 Tier I State Aid 59,063,321 7

13 District Name: Rio Grande City CISD SB 1: & County-District No Release 3 Run Date: 9-Agu-11 7/20/2011 Summary of Finances - SB 1 School Year FOUNDATION SCHOOL FUND DETAIL: Tier I State Aid 59,063,321 Tier II State Aid for "Golden" Level ($59.97) 3,632,535 Tier II State Aid for $ Level (or $33.95) 3,240,758 Total Tier II State Aid 6,873,293 Other Programs: Additional State Aid for Tax Reduction (ASATR) 198,793 Penalty Against ASATR for Setting Rate Below Compressed Rate 0 Reduction Resulting From $350 Per WADA Limit 0 Adjustments to ASATR 0 Staff Allotment 515,750 TSD Charge 0 TSB Charge 0 Total Other Programs 714,543 Less: Available School Fund (2,428,758) Fund / Revenue Code 199 / 5812 FOUNDATION SCHOOL FUND 64,222, / 5811 AVAILABLE SCHOOL FUND - STATE PORTION 2,428, / 5829 TECHNOLOGY ALLOTMENT - ELIMINATED / 5829 CHAPTER 46 EXISTING DEBT ALLOTMENT (EDA) / 599 / 5829 CHAPTER 46 IFA 6,461,909 TOTAL STATE AID - ALL FUNDS 73,113,066 8

14 MINIMUM REQUIRED EXPENSE ANALYSIS OF THE GENERAL OPERATING FUND FOR SCHOOL YEAR TEA Difference Percentage Template Minimum Minimum Over / Difference Program Summary Required Required Percent (Under) Over/(Under) Intent Code Finance Percentage Amount Appropriation Appropriated Appropriated Appropriated Gifted & Talented Operational Grant 317,926 50% 158, , % 1, % Career & Technology Block Grant 5,156,573 55% 2,836,115 2,836, % % Services to Students with Disabilities 7,442,554 50% 3,721,277 6,792, % 3,071, % Compensatory Education Block Grant 10,365,780 50% 5,182,890 5,595, % 412, % Bilingual Education Grant 3,132,265 50% 1,566,133 1,566, % 1 0.0% 26,415,098 13,465,378 16,951,093 3,485,715 9

15 RECAP OF GENERAL OPERATING FUND BUDGET EXPENDITURES BY OBJECT PROPOSED 6100 Payroll 69,582, Contracted Services 7,372, Supplies & Materials 4,729, Other Operating Exp. 2,627, Debt Service 420, Capital Outlay 349,130 85,081,849 BUDGET EXPENDITURES BY OBJECT CODE Contracted Services 7% Supplies & Materials 5.56% Other Operating Exp. 3.09% Debt Service 0.49% Payroll 81.78% Capital Outlay 0.41% 10

16 RECAP OF GENERAL OPERATING FUND BUDGET EXPENDITURES BY FUNCTION PROPOSED Instructional Related Services 46,452,866 Instructional and School Leadership 5,869,487 Support Services - Student 10,693,780 General Administration 3,308,067 Support Services - Non Student 15,468,593 Community Services 127,599 Debt Service 420,518 Facilities Acquisition and Construction 2,270,941 Other Intergovermental Charge 470,000 85,081,849 TOTAL EXPENDITURES BY MAJOR FUNCTION Debt Service 0.49% Support Services Community - Non Services Student 0.15% 18.18% Facilities Acquisition and Construction 2.67% Other Intergovermental Charge 0.55% General Administration 3.89% Instructional Related Services 54.60% Support Services - Student 12.57% Instructional and School Leadership 6.90% 11

17 CHILD NUTRITION PROGRAM FUND A Child Nutrition Program Fund is accounted for as part of the Operating Fund. The District adopted Provision II, which allows all students to obtain a free meal. This fund utilizes the modified accrual basis of accounting and budgeting. An annual budget is approved by the Board in order to comply with T.E.A. requirements. Major Revenues: The Child Nutrition Program major revenue source comes from the National School Lunch Program. For, the district budgeted $ 7,571,700 for this line item. The revenue is generated based on the number of meals served to children who qualify for a free reduced meal. Major Expenditures: The major expenditures for this program are the purchase of food item and personnel cost. For, the district budgeted $4,823,869 and $ 2,747,831 respectively. 12

18 RIO GRANDE CITY CONSOLIDATED INDEPENDENT SCHOOL DISTRICT STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE CHILD NUTRITION PROGRAM (101) FOR THE FISCAL YEAR ENDED AUGUST 31, 2012 REVENUES PROPOSED Local Sources 475,000 State Sources 41,000 Federal Sources 7,055,700 Total Revenues 7,571,700 EXPENDITURES BY FUNCTION 35 Food Services 7,524, Plant Maintenance & Operations 47,500 Total Expenditures 7,571,700 Excess / (Deficiency) of Revenues Over / (Under) Expenditures - 13

19 DEBT SERVICE FUND The Debt Service Fund is a governmental fund type, with budgetary control, that must be used to account for general long-term debt principal and interest for debt issues and other long-term debts for which a tax has been dedicated. A separate bank account must be kept for this fund. Principal and interest payments for operating indebtedness, including warrants, notes and short-term lease-purchase agreements, are to be made from the fund for which the debt was incurred. This fund utilizes the modified accrual basis of accounting. 14

20 RIO GRANDE CITY CONSOLIDATED INDEPENDENT SCHOOL DISTRICT STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE DEBT SERVICE FUND (513) FOR THE FISCAL YEAR ENDED AUGUST 31, 2012 Revenues PROPOSED Local Sources 1,500 State Sources 375,369 Federal Sources Total Revenues 376,869 Expenditures by Function 71 Debt Service 600,075 Total Expenditures 600,075 Excess/(Deficiency) of Revenues Over/(Under) Expenditures 223,206 Other Financing Sources (Uses) Transfers in 223,206 Premium on Issuance of Bonds 0 Other Financing Source 0 Net Changes in Fund Balance 0 15

21 RIO GRANDE CITY CONSOLIDATED INDEPENDENT SCHOOL DISTRICT STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE DEBT SERVICE FUND (516) FOR THE FISCAL YEAR ENDED AUGUST 31, 2012 Revenues PROPOSED Local Sources 3,575,020 State Sources 6,086,540 Federal Sources - Total Revenues 9,661,560 Expenditures by Function 71 Debt Service 9,661,560 Total Expenditures 9,661,560 Excess/(Deficiency) of Revenues Over/(Under) Expenditures 0 Other Financing Sources (Uses) Transfers in 0 Premium on Issuance of Bonds 0 Other Financing Source 0 Net Changes in Fund Balance 0 16

22 RIO GRANDE CITY CONSOLIDATED INDEPENDENT SCHOOL DISTRICT STATEMENT OF ESTIMATED REVENUES DEBT SERVICE FUND (513) FOR THE FISCAL YEAR ENDED AUGUST 31, 2012 PROPOSED Local Sources Current Year Taxes - Delinquent Levy - Penalty & Interest Current Year - Interest on Checking Account 1,500 Total Local Sources 1,500 State Sources State Aid - IFA 375,369 Total State Sources 375,369 Total Revenues 376,869 Other Funding Sources: Other Financing - Transfer In - Operating 223,206 Premium of Issuance of Bonds - Other Resources - Total Other Resources 223,206 Total Revenues & Other Financing Sources 600,075 17

23 RIO GRANDE CITY CONSOLIDATED INDEPENDENT SCHOOL DISTRICT STATEMNET OF ESTIMATED REVENUES DEBT SERVICE FUND (516) FOR THE FISCAL YEAR ENDED AUGUST 31, 2012 PROPOSED Local Sources Current Year Taxes 3,575,020 Delinquent Levy - Penalty & Interest Current Year - Interest on Checking Account - Total Local Sources 3,575,020 State Sources State Aid - IFA 6,086,540 Total State Sources 6,086,540 Total Revenues 9,661,560 Other Funding Sources: Other Financing - Transfer In - Operating - Premium of Issuance of Bonds - Other Resources - Total Other Resources - Total Revenues & Other Financing Sources 9,661,560 18

24 OUTSTANDING DEBT AMORTIZATION SCHEDULE FOR THE YEAR ENDED AUGUST 31, 2012 Fiscal Yr Outstanding General Obligation Debt Unlimited Tax School Building Bonds, Series 2010 Total Gen. % of 31-Aug Principal Interest Total Principal Interest Total Obligation Debt Principal Retired ,478,220 5,053,479 7,531, ,000 1,347,960 2,127,960 9,659, ,210,000 4,324,799 7,534, ,000 1,332,360 2,127,360 9,662, ,340,000 4,194,224 7,534, ,000 1,316,460 2,126,460 9,660, ,475,000 4,056,366 7,531, ,000 1,300,260 2,125,260 9,656, % ,630,000 3,904,860 7,534, ,000 1,283,760 2,123,760 9,658, ,800,000 3,732,675 7,532, ,000 1,266,960 2,126,960 9,659, ,980,000 3,551,925 7,531, ,000 1,247,610 2,127,610 9,659, ,175,000 3,361,565 7,536, ,000 1,225,610 2,125,610 9,662, ,575,000 3,160,815 6,735, ,000 1,200,860 2,125,860 8,861, % ,575,000 2,960,150 6,535, ,000 1,173,110 2,128,110 8,663, ,800,000 2,737,250 7,537, ,000 1,134,910 2,124,910 9,662, ,020,000 2,508,486 7,528,486 1,030,000 1,095,310 2,125,310 9,653, ,265,000 2,270,268 7,535,268 1,065,000 1,059,260 2,124,260 9,659, ,510,000 2,020,075 7,530,075 1,105,000 1,023,050 2,128,050 9,658, % ,770,000 1,760,525 7,530,525 1,145, ,850 2,123,850 9,654, ,135,000 1,485,288 5,620,288 1,195, ,050 2,128,050 7,748, ,540,000 1,292,413 3,832,413 1,255, ,300 2,128,300 5,960, ,660,000 1,175,463 3,835,463 1,315, ,550 2,125,550 5,961, ,780,000 1,052,988 3,832,988 1,380, ,800 2,124,800 5,957, % ,910, ,975 3,834,975 1,435, ,600 2,124,600 5,959, ,040, ,975 3,830,975 1,495, ,200 2,127,200 5,958, ,190, ,163 3,832,163 1,555, ,400 2,127,400 5,959, ,345, ,000 3,831,000 1,615, ,200 2,125,200 5,956, ,045, ,250 2,367,250 1,680, ,600 2,125,600 4,492, % ,145, ,000 2,365,000 1,745, ,400 2,123,400 4,488, ,255, ,750 2,367,750 1,815, ,600 2,123,600 4,491, ,890, ,000 2,126,000 2,126, ,965, ,400 2,125,400 2,125, ,045,000 81,800 2,126,800 2,126, % 2041 Totals $ 92,648,220 $ 58,102,727 $ 150,750,947 $ 36,290,000 $ 25,363,230 $ 61,653,230 $ 212,404,177 (1) It is anticipated that approximately 63% of the District's debt service will be funded by the State's Instructional Facilities Allotment Program and the Existing Debt Allotment Program. The Instructional Facilities Allotment Program and the Existing Debt Allotment Program are subject to biennial appropriation by the Texas Legislature (see "CURRENT SCHOOL FINANCE SYSTEM"). 19

25 SPECIAL REVENUE (information only) FISCAL YEAR Fund Description Estimated Revenues Special Revenue Funds: 211 Title I, Part A- Improving Basic Programs 5,771, Title I, Part C- Migrant 1,367, English Literacy & Civics Education 102, IDEA- Part B, Formula 1,739, IDEA- Part B, Preschool 22, Vocational Education-Basic GRA 207, Title II Part A (TPTR) 753, Title III Part A - LEP 684, st CCLC 200, Education Jobs Fund, ARRA 1,958,314 Total Special Revenue Funds: $12,806,697 20