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

Transcription

1

2 Rio Grande City CISD Rio Grande City, Texas Proposed Annual Budget For Fiscal Year September 1, 2018 August 31, 2019

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 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 $ 49,879 Less Homestead Exemption 25,000 Total Taxable Value $ 24,879 RGCCISD Tax Rate $ 24,879 $ 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 Daniel J. Garcia President Eduardo Ramirez Vice-President Judith Amanda Solis Secretary Daria "Dr. B" Babineaux Dr. Norberto Cantu, Jr. Leticia O. Lopez Eleazar Velasquez Jr. Member Member Member Member SUPERINTENDENT & FINANCE STAFF Diana Robles-Mendez, CPA Crisanto Guerra, IV Jesus Maria Alvarez, Jr. Juan Ruiz Chief Financial Officer Accounting Supervisor Accountant Data Programmer Alfredo Garcia Superintendent of Schools iii

6 PROPOSED ANNUAL BUDGET FISCAL YEAR Fund Description Fund Estimated Other Balance Revenues Appropriations (Out) / In Difference GENERAL FUNDS: 101 Child Nutrition Program - 9,438,500 9,438, Operating Fund (G/Fund) 9,929,246 94,468, ,364,178 3,966,906 0 Total 9,929, ,906, ,802,678 3,966,906 0 DEBT SERVICE FUNDS: 516 Debt Service - I & S - 8,893,500 8,893, Total - 8,893,500 8,893, Total 9,929, ,800, ,696,178 3,966,

7 GENERAL OPERATING FUND MAJOR REVENUES The Revenues for the General Funds are $ 94,468,026. Non-cash revenues are $ 4,289,791 which includes on behalf payments for the Teacher Retirement System. The net cash revenues for the District are $ 90,178,235. LOCAL REVENUES TAXES Property Taxes: Total assessed valuation for is $ 1,742,252,271. The District will budget 98% of the estimated tax levy. The proposed tax rate is $ (M&O $ and I&S $ ) for a total estimated tax collection of $ 15,480,219 (M&O $ 10,778,328 and I&S $ 4,701,891). Prior Year Taxes: The District budgeted $ 1,000,000 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 $ 800,000 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 $ 201,000 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 accounting for 200 less students due to the IDEA Public Schools in this area. The projected refined Average Daily Attendance (ADA) is 9,532. It is projected that $ 4,351,808 will be generated for this year. FOUNDATION SCHOOL PROGRAM Fiscal Year : The projected ADA is 9,532. It is projected that $ 71,719,219 will be generated for this year from the Foundation School Program. FEDERAL PROGRAM REVENUES Fiscal Year : The District estimates $ 1,000,000 for revenues from SHARS and $ 100,000 of revenues distributed by Federal Government. OTHER DUKE ENERGY & HIDALGO WINDMILL PROJECTS The Rio Grande City Consolidated Independent School District entered into agreements with Duke Energy Renewables Wind, LLC and Hidalgo Wind Farm, LLC. The agreements state that RGCCISD will be held harmless and receive holdharmless payments to offset the loss of revenue due to the Value Limitation applied to mentioned companies. The District Expects to receive a revenue loss payment and two supplemental payments projected in the amount of $ 3,966,906 for the fiscal budget ON-BEHALF TRS PAYMENTS This source is a non-cash transaction that the District is required to record. 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 $ 4,289,791. 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 ENDING AUGUST 31, 2019 Revenues PROPOSED Local Sources 13,007,208 State Sources 80,360,818 Federal Sources 1,100,000 Total Revenues 94,468,026 Expenditures by Function 11 Instruction 55,938, Instructional Resources and Media Services 2,499, Curriculum Development & Instructional Staff Development 1,152, Instructional Leadership 1,903, School Leadership 6,364, Guidance, Counseling, and Evaluation Services 3,897, Social Work Services 505, Health Services 1,510, Student (Pupil) Transportation 4,321, Co-curricular/Extracurricular Activities 4,560, General Administration 4,735, Plant Maintenance and Operations 14,214, Security and Monitoring Services 4,121, Data Processing Services 345, Community Services 128, Debt Service - Principal on Long-Term Debt 872,878 Debt Service - Interest on Long-Term Debt 258,529 Debt Service - Bond Issuance Cost & Fees 81 Facilities Acquisition and Construction 434, Other Intergovernmental Charge 598,320 Total Expenditures 108,364,178 Excess/(Deficiency) of Revenues Over/(Under) Expenditures (13,896,152) Other Other Financing Sources (Uses): Transfers Out (Use) Prior-Period Adjustment Net Extraordinary Items (Resources) 3,966,906 Net Changes in Fund Balance (9,929,246) 4

10 RIO GRANDE CITY CONSOLIDATED INDEPENDENT SCHOOL DISTRICT ESTIMATED REVENUES - GENERAL OPERATING FUND (199) FOR THE YEAR ENDING AUGUST 31, 2019 LOCAL SOURCES: PROPOSED Current Year Taxes 10,778,328 Delinquent Levy (Taxes, Prior Years) 1,000,000 Penalty & Interest Current Year 800,000 Interest Earnings - Investment Securities 201,000 Miscellaneous Revenues 227,880 Total Local Sources 13,007,208 STATE SOURCES: Available School Fund 4,351,808 Foundation School Fund 71,719,219 TRS on Behalf Benefit 4,289,791 Total State Sources 80,360,818 FEDERAL SOURCES: Federal Revenue Distributed by Federal Government 100,000 Medicaid Reimbursement (SHARS) 1,000,000 Total Federal Sources 1,100,000 TOTAL REVENUES 94,468,026 5

11 RIO GRANDE CITY CONSOLIDATED INDEPENDENT SCHOOL DISTRICT SUMMARY OF TOTAL REVENUES BY MAJOR SOURCE GENERAL OPERATING FUND (199) FOR THE FISCAL YEAR ENDING AUGUST 31, PROPOSED LOCAL REVENUES $ 13,007,208 STATE REVENUES $ 80,360,818 FEDERAL REVENUES $ 1,100,000 $ 94,468,026 TOTAL REVENUES BY MAJOR SOURCE FEDERAL REVENUES 1.16% LOCAL REVENUES 13.77% STATE REVENUES 85.07% 6

12 District Name: Rio Grande City CISD 84th/85th Legislative Session County-District No Release 4 Run Date: 23-Aug-18 7/9/2018 Summary of Finances - SB School Year Funding Elements Students Refined Average Daily Attendance (ADA) 9, Regular Program ADA (Line 1 Line 3 - Line 4) 8, Special Education FTEs Career and Technology FTEs Advanced Career & Technology FTEs High School ADA 2, Weighted ADA (WADA) 14, Prior Year Refined ADA 9,731, Texas School for the Blind and Visually Impaired ADA Texas School for the Deaf ADA Staff Full-time Staff (not MSS) 1,002 Part-time Staff (not MSS) 4 Property Values 2018 (current tax year) Locally Certified Property Value Not Needed 2017(Prior Tax Year) State Certified Property Value ("T2" Value) 1,212,086,907 Tax Rates and Collections 2005 Adopted M&O Tax Rate Compressed M&O Tax Rate Average Tax Collection Rate Not Needed (current tax year) M&O Tax Rate (current school year) M&O Tax Collections $ 10,778, (current school year) I&S Tax Collections $ 4,701, Total Tax Collections $ 15,480, (current school year) Total Tax Levy $ 15,480,219 Funding Components Adjusted Allotment $ 5,797 Revenue at Compressed Rate (RACR) per WADA $ 5,419 Cost of Education Index (CEI) Adjusted CEI Per Capita Rate $

13 District Name: Rio Grande City CISD 84th/85th Legislative Session County-District No Release 4 Run Date: 23-Aug-18 7/9/2018 Tier I Allotments Program Intent Codes - Allotment 11 Regular Program Allotment $ 49,659, Regular Special Adjustment Allotment (Spend 52% of Amount) $ 6,516, Career and Technology Allotment (Spend 58% of Amount) $ 5,348, Gifted & Talented Adjusted Allotment (Spend 55% of Amount) $ 330,885 30/34 Compensatory Education Allotment (Spend 52% of Amount) $ 12,538,048 25/35 Bilingual Education Allotment (Spend 52% of Amount) $ 3,942, Public Education Grant $ - 99 New Instructional Facilities Allotment (NIFA) $ - 99 Transportation Allotment $ 993, High School Allotment $ 774,262 Total Cost of Tier I $ 80,103,843 LESS: Local Fund Assignment $ 12,120,869 State Share of Tier I $ 67,982,974 Per Capita Distribution from the Available School Fund (ASF) $ 4,351,808 Foundation School Program (FSP) State Funding Greater of State Share of Tier I or (ASF+NIFA+HS) $ 67,982,974 Tier II $ 7,585,781 Other Programs $ 502,273 Less: Total ASF ($447.18* Prior Year ADA) $ (4,351,808) Total FSP Operating Fund $ 71,719,219 State Aid by Funding Source Fund / Revenue Code 199 / 5812 FOUNDATION SCHOOL FUND $ 71,719, / 5811 AVAILABLE SCHOOL FUND - STATE PORTION $ 4,351, / 5829 EDA $ 320, / 5829 INSTRUCTIONAL FACILITIES ALLOTMENT (BONDS) $ 3,481,918 TOTAL FSP/ASF STATE AID $ 79,873,730 ADDITIONAL INFO SUMMARY OF TOTAL STE/LOCAL M&O REVENUE: M&O Rev From State $ 76,071,028 M&O Rev From Local Taxes $ 9,944,024 M&O Rev From Local Taxes $ 596,641 M&O Rev From Local Taxes $ 237, TOTAL STATE/LOCAL M&O REVENUE $ 86,849,355 Less: Credit Balance Due State $ NET TOTAL STATE/LOCAL M&O REVENUE $ 86,849,355 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 330,885 55% 181, , % 48, % Career & Technology Block Grant 5,348,207 58% 3,101,960 3,376, % 274, % Services to Students with Disabilities 6,516,418 52% 3,388,537 8,911, % 5,523, % Compensatory Education Block Grant 12,538,048 52% 6,519,785 6,660, % 140, % Bilingual Education Grant 3,942,917 52% 2,050,317 2,052, % 1, % 28,676,475 15,242,585 21,230,613 5,988,027 9

15 RECAP OF GENERAL OPERATING FUND BUDGET EXPENDITURES BY OBJECT PROPOSED 6100 Payroll 87,299, Contracted Services 9,384, Supplies & Materials 4,665, Other Operating Exp. 3,932, Debt Service 1,131, Capital Outlay 1,950, ,364,178 BUDGET EXPENDITURES BY OBJECT CODE Contracted Services 8.42% Supplies & Materials 4.31% Other Operating Exp. 3.63% Debt Service 1.04% Capital Outlay 1.36% Payroll 82.80% 10

16 RECAP OF GENERAL OPERATING FUND BUDGET EXPENDITURES BY FUNCTION PROPOSED Instructional Related Services 59,591,638 Instructional and School Leadership 8,268,259 Support Services - Student 14,794,866 General Administration 4,735,833 Support Services - Non Student 18,681,270 Community Services 128,532 Debt Service 1,131,407 Facilities Acquisition and Construction 434,052 Other Intergovernmental Charge 598, ,364,178 TOTAL EXPENDITURES BY MAJOR FUNCTION Support Services - Non Student 17.24% Debt Service 0.32% Community Services 0.13% Facilities Acquisition and Construction 0.40% Other Intergovernmental Charge 0.55% General Administration 4.37% Support Services - Student 13.65% Instructional and School Leadership 7.63% Instructional Related Services 55.84% 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 and Breakfast Programs. For , the district budgeted $9,438,500 for these line items. The revenue is generated based on the number of meals served to students qualifying for a free or reduced meal. Major Expenditures: The major expenditures for this program are the purchase of food items and personnel cost. For the district budgeted $5,945,500 and $3,493,000 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 ENDING AUGUST 31, 2019 REVENUES PROPOSED Local Sources 371,500 State Sources 42,000 Federal Sources 9,025,000 Total Revenues 9,438,500 EXPENDITURES BY FUNCTION 35 Food Services 9,108, Plant Maintenance & Operations 330,000 Total Expenditures 9,438,500 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 (516) FOR THE FISCAL YEAR ENDING AUGUST 31, 2019 Revenues PROPOSED Local Sources 5,090,798 State Sources 3,802,702 Federal Sources - Total Revenues 8,893,500 Expenditures by Function 71 Debt Service 8,893,500 Total Expenditures 8,893,500 Excess/(Deficiency) of Revenues Over/(Under) Expenditures 0 Other Financing Sources (Uses) Transfers in 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 ESTIMATED REVENUES DEBT SERVICE FUND (516) FOR THE FISCAL YEAR ENDING AUGUST 31, PROPOSED Local Sources Current Year Taxes 4,701,891 Delinquent Levy 200,000 Penalty & Interest Current Year 166,600 Interest on Checking Account 22,307 Total Local Sources 5,090,798 State Sources State Aid - IFA 3,802,702 Total State Sources 3,802,702 Total Revenues 8,893,500 Other Funding Sources: Other Financing - Transfer In - Operating Premium of Issuance of Bonds - Other Resources - Total Other Resources - Total Revenues & Other Financing Sources 8,893,500 16

22 OUTSTANDING DEBT AMORTIZATION SCHEDULE FOR THE YEAR ENDING AUGUST 31, 2019 (1) It is anticipated that approximately 43% 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"). 17

23 SPECIAL REVENUE (information only) FISCAL YEAR Fund Description Estimated Revenues Special Revenue Funds: 211 Title I, Part A- Improving Basic Programs 5,205, Title I, Part C- Migrant 1,122, IDEA- Part B, Formula 1,962, IDEA- Part B, Preschool 20, Carl D. Perkins Career and Technical Education 184, Title II Part A (TPTR) 527, Title III Part A - LEP 686, st CCLC 1,151, Rural & Low Income 274 Gear Up 289 Title IV, Part A-SSAEP 312,414 Total Special Revenue Funds: $11,172,173 18

24 BUSINESS OFFICE