Budget Development Timeline

Transcription

1 Budget Development Timeline November 2015 December 2015 January 2016 February 2016 March 2016 April 2016 May 2016 June th Salary projections scenarios 10 th Financial forecast to BOE 16 th Preliminary enrollment projections to schools 20 th Budget requests presented to Superintendent s Staff 29 th Weighted staffing memos sent to secondary schools by HR 1 st through 5 th Kindergarten registration 5 th Deadline to turn in Kindergarten registration numbers 9 th Enrollment projections finalized 12 th Weighted staffing memos sent to elementary schools by HR 12 th Staffing sheets sent to departments 19 th Budget packets sent to schools 25 th BOE Budget 101 Workshop 26 th Budget packets sent to departments 7 th Salary budget worksheets started 10 th Final student projections reported to BOE 11 th Staffing worksheets due from departments 18 th Deadline for salary/benefits package to be presented in Proposed Budget from CFO 18 th Weighted staffing worksheets due from schools 1 st Deadline for schools/ departments to turn in budgets 8 th Deadline to have budgets entered into BusinessPLUS 11 th through 22 nd Budget development including other funds, forecasts, special departments, and salary budget finalized and uploaded 14 th BOE Budget Priorities Workshop 27 th Draft Proposed Budget document due for review by budget team 29 th Budget team meeting to review/ revise draft Proposed Budget 3 rd Revised draft Proposed Budget to CFO for review 6 th Budget revisions due from CFO 13 th Deadline for salary/ benefits package to be presented in Adopted Budget based on negotiations to date from CFO Week of 16 th New salary budget revised and uploaded 17 th Final Proposed Budget sent to print shop 26 th Proposed Budget presented to BOE 31 st Draft Adopted Budget document due to review by budget team 2 nd Public Notice of Proposed Budget to be published in Littleton Independent for two weeks 3 rd Budget team meeting to review/revise draft Adopted Budget 6 th Revised draft Adopted Budget to CFO for review 9 th Budget revisions due from CFO 14 th Final Adopted Budget sent to print shop 23 rd Adopted Budget officially presented to and adopted by BOE 1A

2 Littleton Public Schools Budget Development Process Overview Pupil Count Projections Ongoing and new budget factors Schools and departments Expenditures budgets Spreadsheets lead to budget memos, prepared by Finance, and sent to schools and depts. Schools weighted staffing reports data submitted via spreadsheet Estimated pay increases for existing staff report in BusinessPlus Payroll budgets Spreadsheet summary of positions (FTE) and avg. salaries with raises, and benefits prepared by Finance Schools and depts. organize their budgets and return to Finance for input Budget numbers uploaded to BusinessPlus by Finance Revenues budgets Other expenses and other payroll budgets Finance prepares revenues analysis and does input to BusinessPlus Other Funds budgets BusinessPlus financial software data is in the budget ledger BusinessPlus reports summarizing budget data One-time and ongoing expenses, plus other payroll budgets, input by Finance Spreadsheets of additional payroll and staff development budget data prepared by H.R. Finance prepares bud. analyses and does input to BusinessPlus Finance analyzes data for accuracy and completeness Printed and bound by LPS Print Shop. Cover design by Finance Budget document in Excel and Word assembled by Finance Finance staff updates prose pages Budget adoption by Board of Education by resolution 2A

3 General Fund The general fund accounts for all financial transactions of the District s general operations, except those required to be accounted for in another fund. Major revenue sources include local property taxes and state funding. Expenditures include all costs associated with the daily operations of the District s schools, programs, and facilities. Where Does the Money Come From? There are a number of sources Property taxes Specific ownership tax School Finance Act program State revenue transportation, special education, career\tech ed. and other categorical 4% 46% 46% Property tax Specific ownership tax State revenue Other income 4% Where Does the Money Go? The expenditures from the general fund are all costs associated with the day-to-day operations of education of students including: salary, wages, benefits, purchased services, supplies, and capital outlay. Expenditures Expenditures (Excludes Charters) 4% 6% 1% 5% 4% 20% 4% 6% 1% 5% 19% 61% 64% Salary and wages Purchased service Capital outlay/other Transfers Benefits Supplies Charter schools Salary and wages Purchased service Capital outlay/other Benefits Supplies Transfers 1B

4 Colorado School Finance Funding Revenue Sources: Fuel Tax Sales Tax Capital Gains Tax Income Tax Estate Tax Colorado General Fund School Land Trust State Funding Local Funding School Finance Act State Education Fund Local Statutory Property Tax Specific Ownership Tax Equalized K 12 SFA Program & Categorical Revenues 2B

5 General Fund Flow of Resources K 12 State SFA Program & Categorical Revenues Mill Levy Overrides Capital Reserve & Insurance Reserve Specific Ownership Taxes Non-Equalized General Fund General Fund Spending Gifts/Donations Interest Revenue and Fees TABOR Emergency Reserve 3B

6 State Revenues: Federal Revenues: Other Revenues: Local Revenues: School Finance Act Title Fees Mill Levy Overrides Property Taxes IDEA Interest Hold Harmless Specific Ownership Taxes Other Gifts to Schools Property Taxes State Backfill Specific Ownership Taxes Categorical Revenue Special Education Flow of Revenues Transportation Career and Tech Education School Districts ELPA Gifted & Talented Elementary Schools Middle Schools High Schools Departments and Other Funds 4B

7 School Allocations Elementary Schools Enrollment Forecasting Weighted Staffing Formula Points ratio 27.87:1 Administrative points 2.55 Support points Universal Supplemental Weighted Staffing Allocations Instructional coaches Literacy specialists ITS Micro technicians Mental health support Health assistants Variable Supplemental Weighted Staffing Allocations Literacy coaches At Risk support Schoolwide Title CAFÉ Full day kindergarten Variable Contributed/Purchased Weighted Staffing Allocations School General Fund purchase SPED counselor support GT support PTO support Extended Day Care purchase Title I grant support Base Supply Allocations $ per funded pupil $5,348 per school Middle Schools Enrollment Forecasting Weighted Staffing Formula Points multiplier Administrative points Universal Supplemental Weighted Staffing Allocations Instructional coaches Title II Reading program support Mental health support Health assistants Variable Supplemental Weighted Staffing Allocations At Risk support Math resource support Fast Forward Base Supply Allocations $ per funded pupil $14,012 per school High Schools Enrollment Forecasting Weighted Staffing Formula Points multiplier Universal Supplemental Weighted Staffing Allocations Instructional coaches Title II Additional dean/principal support Mental health support Health assistants Variable Supplemental Weighted Staffing Allocations At Risk support International Baccalaureate (IB) Bilingual support Fast Forward STEM secretary Variable Contributed/Purchased Weighted Staffing Allocations School General Fund purchase SPED Summit support GT math support Base Supply Allocations $ per funded pupil $63,445 per school 5B

8 Student Enrollment Forecasting Method Cohort Progression method applies an average historical growth rate percentage to current year actual enrollment figures to estimate enrollment for subsequent years. 3-year weighted average 4-year weighted average Straight advancement Adjustment to projected enrollment figures are made based on input from principals. Final projections provided to secondary principals in mid-january along with weighted staffing memo from Human Resources. Final projections provided to elementary principals in mid-february, after kindergarten registration, along with weighted staffing memo from Human Resources. 6B

9 Weighted Staffing Based on enrollment Provides flexibility to allocate staff based on school needs Weighted Staffing Levels Allocations Level Base Allocation Administrative Support Program Support Elementary School 1.0 point/27.87 students 2.55 points 5.00 to 8.50 points Middle School points/100 students points High School points/100 students Additional points provided for: Instructional coaches Literacy At risk support Mental health support Full day kindergarten Health assistants Title funding Micro technicians 8B

10 Historical Elementary Staffing Allocation Levels 1.0:23 Ratio 1.0:35 Ratio Funding high of 1.0 FTE per 23 pupils Funding reduced to 1.0 FTE per 24.5 pupils Additional FTE is provided for support programs based on student enrollment. Funding reduced further to 1.0 FTE per pupils Funding restored to levels of 1.0 FTE per 24.5 pupils due to 2004 voter approved $6.5 million mill levy FTE 2.55 FTE is provided for administrative support. Funding reduced to 1.0 FTE per pupils due to budget reduction recommendations FTE Funding reduced to 1.0 FTE per pupils due to budget reduction recommendations FTE The current funding level of 1.0 FTE per pupils has remained steady for the last five fiscal years FTE FTE FTE 11B

11 Historical Middle School Staffing Allocation Levels 100: Ratio Funding high of FTE per 100 pupils Funding reduced to FTE per 100 pupils Funding reduced further to FTE per 100 pupils Funding restored to levels of FTE per 100 pupils due to 2004 voter approved $6.5 million mill levy Funding reduced to FTE per 100 pupils due to budget reduction recommendations Funding reduced to FTE per 100 pupils due to budget reduction recommendations The current funding level of FTE per 100 pupils has remained steady for the last five fiscal years 100:4.765 Ratio FTE is provided for administrative support. 12B

12 Historical High School Staffing Allocation Levels 100:6.172 Ratio Funding high of FTE per 100 pupils Funding reduced to FTE per 100 pupils Funding reduced further to FTE per 100 pupils Funding restored to levels of FTE per 100 pupils due to 2004 voter approved $6.5 million mill levy Funding reduced to FTE per 100 pupils due to budget reduction recommendations Funding reduced to FTE per 100 pupils due to budget reduction recommendations The current funding level of FTE per 100 pupils has remained steady for the last five fiscal years 100:5.102 Ratio 13B

13 Allocations for Instructional Supplies and Equipment Base Allocations for Instructional Supplies and Equipment Level Base Allocation Additional Base Funding Support Elementary School $ per projected funded pupil count $5,348 per school Middle School $ per projected funded pupil count $14,012 per school High School $ per projected funded pupil count $63,445 per school Extra funding is provided to various schools for the following items: LINK program helps incoming freshmen transition smoothly into high school Graduation transportation International Baccalaureate (IB) program at Littleton High School Centennial Academy for Fine Arts Education (CAFÉ) program Where Everybody Belongs (WEB) link program Title I schoolwide grant funding at East, Centennial, and Field elementary schools Extension of instructional school day at Field Elementary School. 14B

14 Littleton Public Schools Summary of Use of $12 Million Override Funds 15B

15 LITTLETON PUBLIC SCHOOLS $11.5 Million One Time White Paper Spending Plan Expenditures as of December 31, 2015, Compared to Multi Year Project Budget $2,000,000 $1,800,000 $1,868,902 $1,600,000 $1,400,000 $1,347,512 $1,344,361 $1,200,000 $1,000,000 $1,116,000 $1,000,000 $1,123,422 $952,365 $1,089,900 $800,000 $781,225 $600,000 $400,000 $400,000 $200,000 $0 $130,291 $110,000 $176,313 New Standards Implementation Database Replacement Library System Database Replacement Special Education Tier 2 Intervention Math & Literacy Curriculum Refresh Science Curriculum Refresh Language/Visual Arts Curriculum Refresh Math Curriculum Refresh World Languages Curriculum Refresh Other Curriculum Technology Inspired Writing Refresh Technology Staff Computer Refresh Technology Student Computer Refresh Technology Tech Peripherals FY 2012 Spending 369, ,042 63, , , , ,102 0 $1,111,104 FY 2013 Spending 342,317 13,249 28, , , , ,372 24,881 $1,916,551 FY 2014 Spending 154, ,505 37, , , , , , ,480 47,581 $2,563,298 FY 2015 Spending 178, ,810 5,831 35,842 21,769 1,135, , , , ,946 59,021 $2,331,445 FY 2016 Spending 15, , , , ,564 2, ,147 $934,899 Remaining Project Budget 55, , ,618 25,000 25,000 1,342, ,683 $2,582,994* * Difference between total remaining project budget and one time spending for student needs, shown on the Balance Sheet on page 4, are the result of $59,750 of budget savings on already completed one time projects. 16B

16 Calculation of Property Tax Override Limitation February 22, B

17 Risk Management Fund The risk management fund, a sub fund of the general fund, accounts for insurance premiums, loss control, legal expenses and related claims, judgments rendered against the district, and salaries and benefits for particular staff personnel. This fund s budget and historical spending can be found on pages in the district s Adopted Budget document. The district s two largest insurance programs are the Excess-of-Loss Self-Insurance Pool (ELSIP) for liability and auto coverage and the Joint School District s (JSD) Workers Compensation Self-Insurance Pool for workers compensation coverage. Commercial liability coverage has been obtained for other exposure, i.e., property, crime, etc. Each year an Insurance and Risk Management Report is provided to the Board of Education outlining, in detail, each insurance program and related coverages as well as new school district liability trends. Where Does the Money Come From? The revenue for this fund comes primarily from a transfer from the general fund. In the amount of per pupil revenue budgeted was increased to $318 per pupil from $300 in the previous year. This revenue is allocated between the risk management fund and the capital projects fund. After the risk management expenditures are projected, the remaining dollars are allocated to the capital projects fund. Below is a summary of the amount per student allocated to each fund for fiscal year Risk management fund $ Capital projects fund Total $ Other revenue sources include services to charter schools, insurance reimbursements, and investment earnings. Where Does the Money Go? The expenditures for this fund include: Salaries and benefits for key personnel in finance, human resources, and security. Insurance premiums for workers compensation, general liability, errors and omissions, property, auto, crime, and fiduciary liability. Insurance claim payments related to theft, vandalism, deductibles, and judgments against the district. Loss control supplies and consultant services. Support for School Resource Officers (SROs). Coverage Carrier Limit General Liability and Errors and Omissions ELSIP $5 million Property Travelers $290 million Auto ELSIP $5 million Crime Travelers $1 million Fiduciary Liability Travelers $1 million Workers Compensation JSD $1 million Cyber Liability AIG $1 million 1C

18 Bond Redemption Fund The bond redemption fund accounts for property taxes that are levied each year by the Board of Education in the amount sufficient to cover only the required principal and interest payments. This fund is required by state law to provide revenue for repayment of bonded indebtedness which has been approved by the voters. State statutes limit the amount of general obligation debt a governmental entity may issue to 20.0 percent of its total assessed valuation. The current debt limitation for the district (less current outstanding general obligation debt) is $167,888,062. This debt margin allows for future bond elections. Where Does the Money Come From? The source of dedicated revenue for the bond redemption fund is property tax revenue and interest earnings. Where Does the Money Go? The expenditures for this fund include: Bond principal Bond interest Bank service fees Interest 52% Principal 48% The principal and interest payments are scheduled on June 1 and December 1 each year. The district has four series of general obligation bonds: the 2010 general obligation bonds refunded older indebtedness to lower interest rates, and 2013 and 2014 general obligation bonds will provide improvements and repairs to all school buildings. The 2015 series is comprised of the balance of the $80 million in voter-approved bonds. Outstanding Principal Balance As General Obligation Bonds of June 30, Bond Series $59,070, Bond Series $50,000, Bond Series $17,000, Bond Series $13,000,000 2C

19 Building Fund The building fund is used to account for bond proceeds and for the expenditures for capital projects as promised to the voters on the election ballot. Where Does the Money Come From? The revenue for this fund is provided by the sale of $80 million of general obligation bonds. The general obligation bond issue was passed by the voters on the November 2013 Coordinated Election. As of December 31, 2015, all $80.0 million in bonds had been issued, resulting in $5.7 million in premiums and $2.6 million in coupons. Issuance costs of $0.7 million have been accrued and paid. Where Does the Money Go? Capital projects under this bond issue will be upgrades and remodeling at all district buildings. No new buildings will be constructed. All projects were identified and prioritized by the Capital Improvement Planning Committee and were authorized by the Board of Education. The following are the categories of projects during the current fiscal year: Budgeted Bond Projects Elementary school improvements 22.1% Middle school improvements 14.4% High school improvements 2.1% Roof repairs 5.2% Building site improvements 5.5% Village Preschool improvements 3.7% Districtwide improvements 11.2% Littleton High School improvements 12.3% Runyon Elementary School roof replacement 23.5% 3C

20 Capital Projects Fund The capital projects fund accounts for capital outlay acquisitions and major construction or renovations of the district s facilities. The fund balance in this fund has been declining. Without the passage of the $80 million bond election, this fund s ability to complete major repairs would have suffered. Where Does the Money Come From? The revenue for this fund comes primarily from a transfer from the general fund. In the amount of per pupil revenue budgeted was increased to $318 per pupil from $300 in the previous year. This revenue is allocated between the risk management fund and the capital projects fund. After the risk management expenditures are projected, the remaining dollars are allocated to the capital projects fund. Below is a summary of the amount per student allocated to each fund for fiscal year Capital projects fund $ Risk management fund Total $ Investment earnings are typically the only other revenue source for this fund; however, revenues may be supplemented by gifts, grants, and donations. Where Does the Money Go? The expenditures for this fund are authorized under CRS (l) (c) and include: Facilities projects. o Projects are prioritized and approved by the Board of Education. The priority matrix is based on health and safety and mandated ADA improvements. o Projects include: ADA modifications, flooring, sustainability programs, security, roofing, library remodel and diving board, etc. Technology equipment. Bus and vehicle replacements. Office equipment. Capital leases Capital Projects Expenditure Summary Bus & Vehicles 17% Other 7% Technology 8% Facilities 68% 4C

21 Designated Purpose Grant Fund The designated purpose grant fund accounts for fully funded federal, state, and local grant programs which are restricted as to the type of expenditures for which they may be used, and which may have a different fiscal period than that of the district. Where Does the Money Come From? The district obtains grants from federal, state, and local sources that provide additional and/or alternative funding for school district programs. As grants are received, administration formally accepts them, which establishes the accounting records for the grants. Federal: IDEA Title I (Elementary and Secondary Education Act) Head Start Carl Perkins SWAP (School to Work Alliance Program) Race to the Top Adult Ed. and Family Literacy Local: Medicaid East Backpack SARB (School Attendance Review Board) Stop Tobacco Use STEM Centers State: Safe Routes to School READ Act EAARS (Expelled and At Risk) Where Does the Money Go? The expenditures within the designated purpose grant must be made in accordance with the conditions of the grant. Grants Budget FY IDEA $2,675,560 Title 613,940 Head Start 306,799 Carl Perkins 87,500 Other Federal 239,229 Other State 435,817 Other Local 573,761 State 9% Local 12% Federal 79% 5C

22 Student Athletic and Activities Fund The student athletic and activities fund provides extracurricular activities at the elementary, middle, and high school levels; intramural athletic programs at the middle school level; and Colorado High School Activities Association (CHSAA) programs and district-sponsored activities at the high school level. This fund s budget and historical spending can be found on pages in the district s Adopted Budget document. Where Does the Money Come From? The revenue for this fund is received from the general fund as a transfer, pupil participation fees, gate receipts and fund-raising activities. The general fund provides 45.4 percent of the funding for Where Does the Money Go? The expenditures for this fund include: Salaries and benefits for coaches, sponsors, and workers Uniforms Supplies Transportation to athletic programs and activities Middle Schools: Intramural athletic programs include: o Basketball o Volleyball o Track o Wrestling Activities include: o Assemblies o Student awards o Band o Student council o Class activities o Vocal music High Schools: CHSAA programs include: o Baseball o Soccer o Basketball o Softball o Cross country o Spirit teams o Football o Swimming o Golf o Tennis o Gymnastics o Track o Ice hockey o Volleyball o Lacrosse o Wrestling Activities include: o Band o Jazz band o Chorus o Newspaper o Class activities o Student council o Drama o Yearbook o Forensics 6C

23 Nutrition Services Fund The nutrition services fund accounts for school breakfast and lunch programs served at all of the district s schools, including the charter schools. This fund also assists Sheridan School District with the management of its nutrition fund, including menu planning and delivery of food. The fund is mandatory under the Colorado Code of Regulation and is a self-supporting fund. The financial challenges of this fund include the following. Rising food costs New federal nutritional guidelines Competitive food rules Increasing student meal participation Where Does the Money Come From? The revenue for this fund comes from student and adult meal sales and the United States Department of Agriculture s national school breakfast, lunch, and summer food programs. Meal prices were last increased in July Other revenue sources include investment earnings, a management fee from Sheridan School District, and online credit card fees. Federal aid 39% State aid 1% Other 3% Where Does the Money Go? The expenditures for this fund include: Salaries and benefits for managers, workers, and administrative staff Utilities, repairs and maintenance of equipment, and staff development Food and non-food supplies Capital outlay Donated commodities Meal charges 57% Supplies 39% Capital 2% Donated commodities and other 6% Salaries and benefits 47% Purchased services 6% 7C

24 Extended Day Care Fund The extended day care fund is self-supporting. It is operated in a manner similar to a private business. It accounts for revenues collected and expenses incurred through operations of the district s six preschool, seven kindergarten-plus (K-Plus), five kindergarten extended day (KED), and 12 before- and after-school child care programs. Twelve of the district s elementary schools, plus The Village, provide extended day care services to the community. Where Does the Money Come From? The revenue for this fund comes primarily from tuition fees collected from participating families. The tuition rates for the programs vary depending on the location, services offered, hours of operation, and the amount of time children utilize the service. Each location uses current program enrollment along with registration information for the following school year to develop an anticipated enrollment figure, the driving factor for the sustainability of each program. Other revenue is occasionally collected through gifts to schools or local grant sources. Average Rates for Services Service Offered Daily Weekly Before-school $ 9.00 $ Before-school (PLC days) After-school Both before- and after-school All day (nonstudent days) Kindergarten extended day K-Plus Preschool The Village Preschool full day Where Does the Money Go? The expenditures for this fund include: Salaries and benefits for the program employees. Field trip and enrichment opportunities for the students. Supplies to run the programs including specialized financial software, food expenses for student snacks, and games, and books. Building or equipment improvements that benefit the participating students while they are in the various programs. A transfer to the general fund to help cover administrative and operations costs. Benefits 24% Purchased services 4% Supplies and materials 6% Capital outlay 0% Salaries 60% Other expenses 2% Transfers to the General Fund 4% 8C