PRELIMINARY DETERMINATION HEARING
|
|
- Allen Ford
- 5 years ago
- Views:
Transcription
1
2 PRELIMINARY DETERMINATION HEARING December 12, 2017 Updated December 12, 2017
3 overview 3 1 Why? 3 2 Proposed Operating Referendum Proposed Capital Referendum Project Hearing
4 why? 4 making the case Declining revenue and investments in teacher and employee compensation and benefits are driving IPS to pursue additional local tax dollars. IPS receives 5.88% less in per-pupil funding in SY compared to SY , ~$10 million less in state funding. IPS received $14.2 million less in federal funding in SY compared to SY IPS has lost an average of $16.8 million annually since 2011 due to property tax caps. IPS invested over $8.8 million annually from SY to SY to provide teacher raises and maintain cost-neutral benefits (despite significant increases in healthcare costs).
5 why? 5 implemented cost-saving strategies IPS administration has reduced expenses by $18 + million without altering academic programs & service quality. Highlights below: Sold former Coca-Cola Bottling Plant for mixed-use redevelopment (Mass Ave.) to realize $12M in one-time revenue. Bus fleet maintenance is now outsourced. Sold P.R. Mallory/Ford building for redevelopment (Washington St.) to realize $1.65M in one-time revenue. District warehousing is now outsourced. Rightsizing the IPS central office to reduce expenditures by $5.3M annually. Refinanced the district s debt portfolio, taking advantage of favorable interest rates to lower debt service, by approximately $1.5M annually.
6 why? 6 implemented cost-saving strategies IPS administration has reduced expenses by $18 + million without altering academic programs & service quality. Additional highlights below: Listed FMD property for sale and sold 3 properties for an estimated $1.5M in one-time revenue. Operations functions have been relocated to school facilities. Sold Center for Instructional Radio & Television (CIRT) property (Fountain Sq.) for $1.1M in one-time revenue. Sold unused school facilities to realize $1.15M in one-time revenue for the district, while also spurring redevelopment for the city. Leasing facilities to education partners, capturing $736.5K in annual lease revenue. Estimated operating & maintenance savings for disposed properties is approximately $700K annually.
7 why? 7 operating referendum A referendum is based on a single political question that has been referred to the body of voters for a pass/fail decision. An operating referendum allows school districts to seek additional funding for teacher salaries and academic services from local taxpayers through a vote. Propose a local property tax levy of no more than $0.59 on each $100 of assessed valuation. Provide all employees with an annual cost of living salary increase up to 2%. Maintain health care benefits as cost-neutral for employees. Projected 8% annual increase in benefit costs Continue to provide excellent services for students with special needs.
8 why? 8 operating referendum
9 why? 9 operating referendum
10 why? 10 operating referendum
11 why? 11 capital improvement referendum A capital improvement referendum allows school districts to seek additional funding for building improvements from local taxpayers through a vote. Generate $200 million to fund the myips Safety, Security, and Technology Project. Call for a local property tax levy of no more than $ per $100 of assessed valuation. Provide all IPS-owned school facilities with enhanced safety and security. Address deferred maintenance needs in all IPS-owned school facilities. Invest in energy efficient technology to reduce annual operating costs across the district. Examples include: exterior lighting, technology upgrades, and playground accessibility for students with special needs
12 why? 12 capital improvement referendum Examples include: exterior lighting, technology upgrades, cameras, door security and playground accessibility for students with special needs
13 why? 13 the big picture Freeze teacher and employee compensation. Reduce educational programs for students. Reduce the quality of some services for students with special needs. Continue to defer building maintenance. Reduce transportation services.
14 why? 14 pursuing the referenda IPS will consider both the pursuit of the operating and the capital improvement referenda questions. IPS must pursue these referenda to continue providing the highest quality of education to all students within the district. IPS has not sought a referendum since Six districts in Marion County have successfully completed operating referenda and four have done capital referenda within the same time frame. IPS has cut overhead and operating costs, but cannot continue to operate at a structural deficit.
15 15 Discussion Topics
16 operating referendum 16 cash flow assumptions Basic Grant revenue is based upon enrollment trends provided by School Officials. Assumed stable general education student enrollment and a slight decline in Special Education enrollment, based on recent trends. No assumed annual growth in state and local revenue sources. Property tax revenue for operational funds (Capital Projects and Transportation Funds) expected to decrease due to circuit breaker credit projections. 2% inflationary annual operational increases. Disbursements for Capital Projects are based upon discussions with School Officials. Disbursements for Transportation are based upon discussions with School Officials. *Provided by H.J. Umbaugh & Associates
17 Totals (In Thousands) operating referendum 17 actual and projected revenues and expenditures $600,000 General, Capital Projects and Transportation Funds ( ) $500,000 $400,000 $300,000 $200,000 $100,000 $0 Actuals Actuals Actuals Actuals Actuals Actuals Actuals Actuals Actuals Actuals Actuals Projected Projected Projected Projected Projected Projected Projected Projected Projected Receipts 339, , , , , , , , , , , , , , , , , , , ,023 Disbursements 387, , , , , , , , , , , , , , , , , , , ,463 *Provided by H.J. Umbaugh & Associates
18 Totals (In Thousands) operating referendum 18 actual and projected surplus/(deficit) $100,000 General, Capital Projects and Transportation Funds ( ) $50,000 $0 ($50,000) ($100,000) ($150,000) Actual 2007 Actual 2008 Actual 2009 Actual 2010 Actual 2011 Actual 2012 Actual 2013 Actual 2014 Actual 2015 Actual 2016 Actual 2017 Surplus/Deficit (48,255) 12,356 (3,734) 78,860 (9,428) (17,138) (22,300) 15,656 2,622 (9,849) (19,687) (31,691) (57,824) (69,000) (87,521) (95,192) (103,016) (110,997) (119,137) (127,440) Projected 2018 Projected 2019 Projected 2020 Projected 2021 Projected 2022 Projected 2023 Projected 2024 Projected 2025 Projected 2026 *Provided by H.J. Umbaugh & Associates
19 Fund Balance (In Thousands) operating referendum 19 actual and projected june 30 fund balance $200,000 General, Capital Projects and Transportation Funds ( ) $100,000 $- $(100,000) $(200,000) $(300,000) $(400,000) $(500,000) $(600,000) $(700,000) $(800,000) Fund Balance, June Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Projected Projected Projected Projected Projected Projected Projected Projected Projected $40,337 $52,693 $49,139 $127,819 $118,391 $101,253 $78,953 $93,545 $95,424 $80,970 $62,045 $30,353 ($27,471) ($96,471) ($183,992 ($279,183 ($382,199 ($493,196 ($612,333 ($739,773 *Provided by H.J. Umbaugh & Associates
20 Fund Balance (In Thousands) operating referendum 20 actual and projected june 30 fund balance General, Capital Projects and Transportation Funds with Operating Referendum ( ) $120,000 $100,000 $93,545,012 Estimated Annual Revenue: $92,490,000 Estimated Maximum Tax Impact: $ $92,896,752 $80,000 $60,000 $40,000 $20,000 $0 Fund Balance, June 30 $30,353,487 $5,090, Actual Actual Actual Actual Projected Projected Projected Projected Projected Projected Projected Projected Projected $93,545 $95,424 $80,970 $62,045 $30,353 $65,021 $89,217 $94,892 $92,897 $83,077 $65,276 $39,335 $5,091 Note: Based upon the 2018 certified assessed value of $14,033,981,093, including TIF assessed value of $3,295,260,925, per the Marion County Auditor s Office, with no growth assumed thereafter. *Provided by H.J. Umbaugh & Associates
21 Fund Balance (In Thousands) operating referendum 21 actual and projected june 30 fund balance General, Capital Projects and Transportation Funds with Operating Referendum ( ) $120,000 $100,000 $80,000 $93,545,012 Estimated Annual Revenue: $93,083,630-$104,741,788 Estimated Maximum Tax Impact: $ $98,316,669 $60,000 $40,000 $30,353,487 $20,000 $0 Fund Balance, June 30 $17,340, Actual Actual Actual Actual Projected Projected Projected Projected Projected Projected Projected Projected Projected $93,545 $95,424 $80,970 $62,045 $30,353 $65,613 $91,391 $98,676 $98,317 $90,161 $74,053 $49,834 $17,341 Note: Based upon the 2018 certified assessed value of $14,033,981,093, including TIF assessed value of $3,295,260,925, per the Marion County Auditor s Office, with 1.7% growth assumed thereafter. *Provided by H.J. Umbaugh & Associates
22 Fund Balance (In Thousands) operating referendum 22 actual and projected june 30 fund balance $140,000 $120,000 $100,000 $93,545,012 General, Capital Projects and Transportation Funds with Operating Referendum ( ) Estimated Annual Revenue: $97,476,957 - $151,477,881 Estimated Maximum Tax Impact: $ $118,151,868 $80,000 $60,000 $64,076,678 $40,000 $20,000 $30,353,487 $0 Fund Balance, June Actual Actual Actual Actual Projected Projected Projected Projected Projected Projected Projected Projected Projected $93,545 $95,424 $80,970 $62,045 $30,353 $70,006 $100,538 $112,961 $118,152 $115,986 $106,336 $89,076 $64,077 Note: Based upon the 2018 certified assessed value of $14,033,981,093, including TIF assessed value of $3,295,260,925, per the Marion County Auditor s Office, with 6.5% growth assumed thereafter. *Provided by H.J. Umbaugh & Associates
23 operating referendum 23 calculation of estimated tax impact *Provided by H.J. Umbaugh & Associates
24 capital referendum project hearing 24 summary of outstanding annual debt service and lease rental payments *Provided by H.J. Umbaugh & Associates
25 capital referendum project hearing 25 estimated project costs and funding *Provided by H.J. Umbaugh & Associates
26 capital referendum project hearing 26 summary of illustrative financing 20 Year Repayment Total Project Costs $200,000,000 Par Amount of Bonds $200,000,000 Estimated Repayment Term 19 years, 1 month Total Estimated Interest Expense (1) $128,673,835 Assumed Interest Rates 2.60% 5.90% Maximum Estimated Annual Lease Rental $19,040,000 Maximum Debt Service Tax Rate (2) $ (1) Based upon assumed interest rates, plus 1.00%. (2) Based upon the 2017 certified net assessed value for Indianapolis Public Schools, plus TIF assessed value, of $3,020,971,632, with no growth assumed thereafter. Assumes financial institutions/license excise factor of 5%. Per $100 of net assessed value. Note: Debt approved by referendum is exempt from property tax caps. *Provided by H.J. Umbaugh & Associates
27 capital referendum project hearing 27 Illustrative Schedule of Amortization of $200,000,000 Principal Amount of First Mortgage Bonds, Series 2018 *Provided by H.J. Umbaugh & Associates
28 capital referendum project hearing 28 schedule of existing and proposed debt service/lease rental payments Estimated Total Interest Expense: $128,673,835 Maximum Annual Payment: $19,040,000 Estimated Maximum Tax Impact: $ *Provided by H.J. Umbaugh & Associates
29 capital referendum project hearing 29 summary of illustrative financing options *Provided by H.J. Umbaugh & Associates
30 monthly illustrative tax impact 30 Monthly Illustrative Tax Impact for $ Annual Operating Referendum Tax Rate and $200,000,000 Capital Referendum Market Value of Property Net Assessed Value (2) Operating Referendum (1) $ tax rate Capital Referendum (1) $200,000,000 Total Referenda $50,000 Home $10,000 $4.92 $1.15 $ ,000 Home 32, ,500 Home (3) 48, ,000 Home 65, ,000 Home 130, ,000 Home 292, ,000,000 Home 653, Commercial/Rental Property $100,000 $49.17 $11.53 $60.70 (1) Based upon the 2018 certified net assessed value of $10,738,720,168, including TIF assessed value of $3,295,260,925 per the Marion County budget order, with no growth assumed thereafter. Assumes financial institutions/license excise factor of 10.54%. Per $100 of assessed value. (2) Tax impact based upon net assessed valuation of home, which includes the standard deduction, supplemental homestead deduction and the mortgage deduction. (3) Median home value within Indianapolis Public Schools, per the 2015 American Community Survey. *Provided by H.J. Umbaugh & Associates
31
River Forest Community School Corporation. Forging Ingots Together
2020 Circuit Breaker Impact FUNDING CLIFF! River Forest Community School Corporation Forging Ingots Together Presented by: Dr. Steven Disney and Umbaugh and Associates 1 School Fund Structure 2018 & Prior
More informationVigo County School Corporation
Project Hearing October 23, 2017 Annual Debt Service/Lease Rental Payments (Unaudited) First Mortgage Refunding Bonds, Series 2007* First Mortgage Refunding Bonds, Series 2015 Total Outstanding Debt Service
More informationThank you for the opportunity to speak today regarding H.B
Prepared Comments Regarding H.B. 1004 Gary Malone, CPA December 9, 2009 Mr. Chairman and Members of the Committee: Thank you for the opportunity to speak today regarding H.B. 1004. My name is Gary Malone.
More informationVigo County School Corporation
Illustrative Financing Options September 25, 2017 Payment Year First Mortgage Refunding Bonds, Series 2007* Vigo County School Corporation Annual Debt Service/Lease Rental Payments (Unaudited) General
More informationSUPERINTENDENT S SY BUDGET PROPOSAL
SUPERINTENDENT S SY 2018 19 BUDGET PROPOSAL Weston R. Young, CPA, Chief Financial Manager March 5, 2018 overview 3 1 2 5 3 4 6 budget philosophy 4 Utilize the Board s Core Commitments and Beliefs to support
More informationThe Basics of Local Government Budgeting
The Basics of Local Government Budgeting Presented by: Jason Semler, CPA, Partner, Umbaugh Caitlin Cheek, Senior Consultant, Umbaugh August 27, 2018 Annual Budgets for Local Government Every political
More informationBROOKLYN CENTER SCHOOL DISTRICT PUBLIC HEARING FOR TAXES PAYABLE December 14, 2015 Presented by: Sara Bratsch Finance Director
BROOKLYN CENTER SCHOOL DISTRICT PUBLIC HEARING FOR TAXES PAYABLE 2016 December 14, 2015 Presented by: Sara Bratsch Finance Director AGENDA FOR HEARING Public Comments Budget amendment Proposed Tax Levy
More informationINDEPENDENT SCHOOL DISTRICT NO. 719
INDEPENDENT SCHOOL DISTRICT NO. 719 2016/17 Levy Certification Presented on Monday, December 12, 2016 by Julie Cink, SFO Executive Director of Business Services Agenda Tax Levy Calendar Basic School Funding
More informationIndiana s Property Tax Reforms, and Beyond
Purdue Cooperative Extension Service Indiana s Property Tax Reforms, 2008-2010 and Beyond Larry DeBoer Department of Agricultural Economics Purdue University Farm Policy Study Group July 8, 2010 For more
More informationSt. Francis Area Schools
2018 Payable 2019 Truth In Taxation Public Meeting 7:00 pm December 10, 2018 at the District Office Community Room Truth in Taxation Law Minnesota s Truth in Taxation Law requires that cities, counties
More informationTaxation Hearing Eastern Carver County Schools December 12, 2013
Taxation Hearing Eastern Carver County Schools December 12, 2013 Requirement for Tax Hearing Held during regular meeting at 6:00 p.m. or later All school districts must hold a meeting Levy may be adopted
More information2011 Property Tax Report Carroll County with Comparisons to Prior Years
2011 Property Tax Report Carroll County with Comparisons to Prior Years Legislative Services Agency September 2011 This report describes property tax changes in Carroll County between 2010 and 2011, with
More informationHopkins Public Schools #270. December 5, 2017 Presented by John Toop Director of Business Services
Hopkins Public Schools #270 Public Hearing for Taxes Payable in 2018 December 5, 2017 Presented by John Toop Director of Business Services Tax Hearing Presentation State Law Requires Public Meeting: Between
More informationTruth in Taxation 2018 Proposed Property Tax Levy. Monticello Public Schools District Office December 4, :00 pm
Truth in Taxation 2018 Proposed Property Tax Levy Monticello Public Schools District Office December 4, 2017 6:00 pm Truth in Taxation Timeline 2017 Payable 2018 Levy -For- 2018-2019 School Year -Or- FY2019
More informationOptions for a Future Capital Program
Options for a Future Capital Program February 9, 2012 Jeff Weiler February 9, 2012 Reference 6.01 Page 1 of 22 Overview A. Additional Context for Identified Need B. Issuance Conditions C. Funding Options
More informationChatfield Public School
2014 Payable 2015 Truth In Taxation Public Meeting Time: 7:00 p.m. Date: December 15, 2014 Place: Chatfield Public School High School Media Center 205 Union Street NE Chatfield, MN 55923 Truth in Taxation
More informationFinancial Impact of Proposed 2018 Bond and Recommended Tax Rate Administrative Recommendation
Financial Impact of Proposed 2018 Bond and Recommended Tax Rate Administrative Recommendation August 2, 2018 2018 Bond Recommendation Summary 2 Committee Recommendation Recommendation Bond Cost Estimated
More informationChatfield Public School
2015 Payable 2016 Truth In Taxation Public Meeting Time: 7:00 p.m. Date: December 21, 2015 Place: Chatfield Public School High School Media Center 205 Union Street NE Chatfield, MN 55923 Truth in Taxation
More informationBudget & Proposed 2019 Property Taxes
PUBLIC HEARING 2018 19 Budget & Proposed 2019 Property Taxes MARSHALL COUNTY CENTRAL SCHOOLS December 2018 Resources provided TODAY S AGENDA FACTORS AFFECTING TAXES Big Picture Your Property Classification
More informationFridley Public Schools, ISD 14
Fridley Public Schools, ISD 14 Public Hearing for Taxes Payable in 2019 DECEMBER 18, 2018 PRESENTED BY: MATTHEW HAMMER, DIRECTOR OF FINANCE Agenda for Hearing 1. State Funding of Schools 2. Information
More informationThe property tax is the predominant method communities use to raise additional revenues in Ohio. The property tax comes in two forms:
INTRODUCTION The cost to educate young people across the state is significant and those costs continue to rise. More Ohio tax dollars are spent for primary and secondary education than for any other single
More informationSchool District of Green Lake
School District of Green Lake Board of Education Public Information Meeting For the February 16, 2010 Referendum 1 Revenue Limit Calculation Since 1993, all Wisconsin school districts have been operating
More informationIndiana s Property Tax, 2008
Purdue Cooperative Extension Service On Local Government Indiana s Property Tax, 2008 Larry DeBoer Department of Agricultural Economics Purdue University February 1, 2008 For more information DeBoer s
More informationAVON COMMUNITY SCHOOL CORPORATION. PUBLIC HEARING on the 2013 BUDGET
PUBLIC HEARING on the 2013 BUDGET August 29, 2012 Important Upcoming Dates August 29, 2012 Public Hearing on 2013 Budget. The 2013 Budget is (5:30 p.m.) available in booklet form for the Board. September
More informationPEOTONE CUSD 207U 2018 Tax Levy Information
PEOTONE CUSD 207U 2018 Tax Levy Information Sources of Funding (2017 Receipts) Local Sources of Funding: $17.10 million (85.63%) State Funding: $2.22 million (11.14%) Excludes the on-behalf payment for
More informationINDEPENDENT SCHOOL DISTRICT NO Levy Certification
INDEPENDENT SCHOOL DISTRICT NO. 719 Levy Certification Presented on Monday, December 11, 2017 by Julie Cink, SFO Executive Director of Business Services Agenda Tax Levy Calendar Basic School Funding Factors
More informationSPECIAL SCHOOL DISTRICT NO. 1 Board of Education
SPECIAL SCHOOL DISTRICT NO. 1 Board of Education August 9, 2018 AMENDED RESOLUTION REGARDING SCHOOL DISTRICT QUESTIONS ON THE NOVEMBER 6, 2018 GENERAL ELECTION BALLOT WHEREAS, The Board of Directors of
More informationCash Balance June 30 15,940,136 15,271,647 13,479,243 12,241,640 11,698,295 10,837,831 9,756,394 8,379,673
Whitehall City School District Schedule Of Revenue, Expenditures and Changes In Fund Balances Actual and Forecasted Operating Fund ACTUAL FORECASTED Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal
More information5 Year Budget Forecast
5 Year Budget Forecast Ashwaubenon School District February 13, 2017 5-Year Budget Forecast Assumptions Declining resident enrollment trend for 4 years and a slight increase in year 5 (Cohort Survival
More informationWilliamston Community Schools Williamston, Michigan FINANCIAL STATEMENTS. June 30, 2017
Williamston, Michigan FINANCIAL STATEMENTS TABLE OF CONTENTS Page INDEPENDENT AUDITOR S REPORT ADMINISTRATION S DISCUSSION AND ANALYSIS i-ii iii-x BASIC FINANCIAL STATEMENTS District-wide Financial Statements:
More informationLaCrescent-Hokah School District
LaCrescent-Hokah School District 2016 Payable 2017 Truth In Taxation Public Meeting 7:00 p.m. December 16, 2015 at the HS/MS Media Center 1301 Lancer Blvd. LaCrescent, MN 55947 Truth in Taxation Public
More informationHEA HEA IASBO Conference April
HEA 1009-2017 HEA 1167-2018 IASBO Conference April 2018 317-232-3777 1 Disclaimer This presentation is provided as a resource for interested parties. It is not a substitute for reading the law. In the
More informationBond Election is called by the Board of Trustees Bonds are authorized by the voters Bonds are sold
May 20, 2014 Bond Election is called by the Board of Trustees Bonds are authorized by the voters Bonds are sold Sale is approved by the Attorney General of Texas, and shortly thereafter, cash is received
More informationPROPOSITION FARMINGTON SCHOOLS. April 8, 2014 Bond Issue
PROPOSITION FARMINGTON SCHOOLS April 8, 2014 Bond Issue PROPOSITION FARMINGTON SCHOOLS - BOND LANGUAGE Shall the Board of Education of the Farmington R-7 School District of St. Francois County, Missouri,
More informationSBOA Chart of Accounts
SBOA Chart of Accounts Ryan Preston Director of Audit Services State Board of Accounts 2017 HEA 1009 SBOA Requirements: Created IC 20-42.5-3-7 Chart of Accounts must coincide with the State Board of Education
More informationRockford Area Schools
Rockford Area Schools Referendum Presentation Given prior to the November 6 th, 2018 Election Neutral, District-Prepared Material. Prepared and paid for by Independent School District No. 883 Rockford
More informationHEA 1001 More than Property Tax Relief September 12, 2008
HEA 1001 More than Property Tax Relief September 12, 2008 1 HEA 1001 More Than Property Tax Relief Expansion of Circuit Breaker Tax Credits Creates a financial interdependency of all local schools and
More informationTHE PROPOSED VERSAILLES JOHNSON TOWNSHIP FIRE PROTECTION TERRITORY. Summary of Financial Impact Analysis
THE PROPOSED VERSAILLES JOHNSON TOWNSHIP FIRE PROTECTION TERRITORY Summary of Financial Impact Analysis March 12, 2019 Presented by: Paige E. Sansone, CPA, Partner What is it? Fire Protection Territory
More informationTelling Our Story. Celebrations, Challenges, and Choices
Telling Our Story Celebrations, Challenges, and Choices Telling Our Story Celebrations, Challenges, and Choices Telling Our Story: Robbinsdale is Among the most highly regarded school systems in Minnesota.
More informationWork Session/Regular Meeting September 25, 2018
Work Session/Regular Meeting September 25, 2018 Items to be Discussed Permanent Improvement Funds Capital Outlay Expenditures General Fund Capital Outlay Expenditures All Other Funds Purchased Services
More informationBudget Status
Budget Status 2014-2015 March 17, 2014 Revenue By Source $145,297,379 Sales Tax $250,000 0% Other Revenue $2,349,554 2% PILOTS $545,505 0% Interest $60,000 0% Fund Balance $2,000,000 2% Rent $350,000 0%
More informationFort Wayne Community Schools. Capital Projects Planning March 15, 2011
Fort Wayne Community Schools Capital Projects Planning March 15, 2011 District Balanced Scorecard Goal III Operate effectively with integrity and fiscal responsibility Condition scores unchanged Use of
More informationMATHEWS LOCAL SCHOOL DISTRICT TRUMBULL COUNTY TABLE OF CONTENTS. Independent Auditor s Report Management s Discussion and Analysis...
MATHEWS LOCAL SCHOOL DISTRICT TRUMBULL COUNTY TABLE OF CONTENTS TITLE PAGE Independent Auditor s Report... 1 Management s Discussion and Analysis... 3 Basic Financial Statements: Government-Wide Financial
More informationSuperintendent s Report: McCleary Solution/ State Education Funding Plan
Superintendent s Report: McCleary Solution/ State Education Funding Plan September 11, 2017 The McCleary Solution 2 The legislature adopted a final biennial budget on June 30, 2017 (PSSB5883). This budget
More informationBELPRE CITY SCHOOL DISTRICT WASHINGTON COUNTY TABLE OF CONTENTS. Independent Auditor s Report Management s Discussion and Analysis...
WASHINGTON COUNTY TABLE OF CONTENTS TITLE PAGE Independent Auditor s Report... 1 Basic Financial Statements: Management s Discussion and Analysis... 5 Government-wide Financial Statements: Statement of
More informationFive Year Forecast Financial Report
Five Year Forecast Financial Report October, 2018 Kevin Hawley, CFO 1 Table of Contents Table of Contents 2 Forecast Summary 3 Revenue Sources and Forecast Year-Over-Year Overview 4 1.010 - General Property
More informationProperty Tax Relief Frequently Asked Questions Act 72 of 2004: The Homeowner Tax Relief Act
Property Tax Relief Frequently Asked Questions Act 72 of 2004: The Homeowner Tax Relief Act The following pages contain questions and answers on five Act 72 topics: How To Qualify For Property Tax Relief...Page
More informationProperty Taxes. Property Taxes. Property Taxes: From Levy Certification to Individual Tax Statement
: From Levy Certification to Individual Tax Statement Shelby McQuay Ehlers Andrea Uhl Ehlers May 11, 2017 1 Overview District officials are sometimes expected to explain property taxes in detail: At school
More informationRIVERSIDE LOCAL SCHOOL DISTRICT LAKE COUNTY TABLE OF CONTENTS. Independent Auditor s Report Management s Discussion and Analysis...
RIVERSIDE LOCAL SCHOOL DISTRICT LAKE COUNTY TABLE OF CONTENTS TITLE PAGE Independent Auditor s Report... 1 Management s Discussion and Analysis... 5 Basic Financial Statements: Government-wide Financial
More informationAPPENDIX A FULL TEXT OF BOND MEASURE
APPENDIX A FULL TEXT OF BOND MEASURE INTRODUCTION To repair aging classrooms / leaky roofs / old facilities, and provide a safe, quality learning environment for current and future students, shall Grass
More informationTHE FISCAL HEALTH OF INDIANA S LARGER MUNICIPALITIES: CITY OF SOUTH BEND MUNICIPAL PROFILE
THE FISCAL HEALTH OF INDIANA S LARGER MUNICIPALITIES: CITY OF SOUTH BEND MUNICIPAL PROFILE by John Stafford March 2016 1 CITY OF SOUTH BEND MUNICIPAL PROFILE MARCH 2016 Introduction This document is a
More informationForecast Provided By Newark City School District Treasurer's Office Julio Valladares, MBA, Treasurer/CFO
Newark City School District Licking County SCHEDULE OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCES FOR THE FISCAL YEARS ENDED JUNE 30, 2015, 2016 and 2017 ACTUAL FORECASTED FISCAL YEARS ENDING
More informationThe City of Arden Hills Truth-In-Taxation Hearing:
The City of Arden Hills Truth-In-Taxation Hearing: December 12, 2016 Mayor David Grant Council Members Brenda Holden, Fran Holmes, Dave McClung, and Jonathan Wicklund City Vision Arden Hills is a strong
More informationTHE FISCAL HEALTH OF INDIANA S LARGER MUNICIPALITIES: CITY OF BLOOMINGTON MUNICIPAL PROFILE
THE FISCAL HEALTH OF INDIANA S LARGER MUNICIPALITIES: CITY OF BLOOMINGTON MUNICIPAL PROFILE by John Stafford March 2016 1 CITY OF BLOOMINGTON MUNICIPAL PROFILE MARCH 2016 Introduction This document is
More informationPLATTENBURG Certified Public Accountants
NORWOOD CITY SCHOOL DISTRICT Basic Financial Statements June 30, 2017 PLATTENBURG Certified Public Accountants PLATTENBURG Certified Public Accountants INDEPENDENT AUDITOR'S REPORT To the Board of Education
More informationStoughton Area School District Budget Report
2017-18 Stoughton Area School District Budget Report Serving the following communities: Albion, Christiana, Stoughton, Cottage Grove, Deerfield, Dunkirk, Dunn, Pleasant Springs and Rutland in Dane County
More informationPUBLIC HEARING BUDGET AND PROPOSED 2017 PROPERTY TAXES. Staples-Motley ISD 2170 Information on Changes to School Property Taxes.
PUBLIC HEARING 2016-17 BUDGET AND PROPOSED 2017 PROPERTY TAXES Staples-Motley ISD 2170 Information on Changes to School Property Taxes December 2016 Factors Affecting Proposed Taxes The Big Picture Reading
More informationSCHOOL DISTRICT OF LADYSMITH BUDGET HEARING & ANNUAL MEETING OCTOBER 18, 2017
SCHOOL DISTRICT OF LADYSMITH BUDGET HEARING & ANNUAL MEETING OCTOBER 18, 2017 State of District s Financial Health General Fund Balance sits at $2,054,672 on June 30, 2017. This is 19.90% of the budgeted
More informationTHE FISCAL HEALTH OF INDIANA S LARGER MUNICIPALITIES: CITY OF NEW ALBANY MUNICIPAL PROFILE
THE FISCAL HEALTH OF INDIANA S LARGER MUNICIPALITIES: CITY OF NEW ALBANY MUNICIPAL PROFILE by John Stafford March 2016 1 CITY OF NEW ALBANY MUNICIPAL PROFILE MARCH 2016 Introduction This document is a
More informationCopley-Fairlawn City Schools, Summit County Five Year Forecast Assumptions October, 2011
Copley-Fairlawn City Schools, Summit County Five Year Forecast Assumptions October, 2011 The Copley-Fairlawn City School District has achieved Excellent status as measured and reported in the state issued
More informationBuilding and Site Sinking Fund Millage. Election Date: November 7th 2017
Building and Site Sinking Fund Millage Election Date: November 7th 2017 How do Districts Fund Facilities and Technology Needs? General Fund - Use current operating dollars. These are limited to the amount
More informationWESTERN BEAVER COUNTY SCHOOL DISTRICT MIDLAND, PENNSYLVANIA JUNE 30, 2015
WESTERN BEAVER COUNTY SCHOOL DISTRICT MIDLAND, PENNSYLVANIA JUNE 30, 2015 AUDIT REPORT MIDLAND, PENNSYLVANIA TABLE OF CONTENTS Page Independent Auditor s Report 1 2 Management s Discussion and Analysis
More informationThe Importance of Long-Term Financial Planning
The Importance of Long-Term Financial Planning Presented by: Paige E. Sansone, CPA, UMBAUGH IACC Annual Conference December 2, 2015 Topics for Discussion Long-Term Financial Planning Possible Causes of
More informationSaugatuck Public Schools. Year Ended June 30, Financial Statements
Saugatuck Public Schools Year Ended June 30, 2016 Financial Statements Table of Contents Independent Auditors Report 1 Management s Discussion and Analysis 5 Basic Financial Statements Government-wide
More informationIndiana s Constitutional Referendum On Tax Caps, November 2010
Purdue Cooperative Extension Service Indiana s Constitutional Referendum On Tax Caps, November 2010 Larry DeBoer Department of Agricultural Economics Purdue University September 2010 For more information
More informationFREMONT UNION HIGH SCHOOL DISTRICT ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED JUNE 30, 2016
FREMONT UNION HIGH SCHOOL DISTRICT ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED TABLE OF CONTENTS FINANCIAL SECTION Independent Auditor s Report 2 Management's Discussion and Analysis 5 Basic Financial
More informationINDEPENDENT SCHOOL DISTRICT NO. 273 EDINA, MINNESOTA. Financial Statements and Supplemental Information. Year Ended June 30, 2014
INDEPENDENT SCHOOL DISTRICT NO. 273 EDINA, MINNESOTA Financial Statements and Supplemental Information Year Ended June 30, 2014 THIS PAGE INTENTIONALLY LEFT BLANK INDEPENDENT SCHOOL DISTRICT NO. 273 Table
More informationCUYAHOGA HEIGHTS LOCAL SCHOOL DISTRICT CUYAHOGA COUNTY REGULAR AUDIT
CUYAHOGA HEIGHTS LOCAL SCHOOL DISTRICT CUYAHOGA COUNTY REGULAR AUDIT FOR THE YEAR ENDED JUNE 30, 2014 CUYAHOGA HEIGHTS LOCAL SCHOOL DISTRICT CUYAHOGA COUNTY TABLE OF CONTENTS TITLE PAGE Independent Auditor
More informationAccelerate Indiana Municipalities BUDGET BULLETIN ISSUED: JUNE 2018
Accelerate Indiana Municipalities BUDGET BULLETIN 2019 ISSUED: JUNE 2018 2019 BUDGET BULLETIN The City and Town Budget Bulletin is published by Accelerate Indiana Municipalities as a service to its members.
More informationGOVERNOR MIFFLIN SCHOOL DISTRICT
FINANCIAL AND COMPLIANCE REPORT Year Ended June 30, 2017 TABLE OF CONTENTS INDEPENDENT AUDITOR'S REPORT... 1-2 Pages MANAGEMENT S DISCUSSION AND ANALYSIS... 3-17 BASIC FINANCIAL STATEMENTS Government-Wide
More information2017 BUDGET. Budget Hearing: October 10, 2016 Budget Adoption: October 24, 2016
2017 BUDGET Budget Hearing: October 10, 2016 Budget Adoption: October 24, 2016 THE FIVE THINGS YOU NEED TO KNOW ABOUT EVERY PUBLIC BUDGET: 1. How much do we propose to spend and on what would we spend
More informationHUDSON CITY SCHOOLS FINANCIAL REPORT. October 2014 Five-Year Forecast Update KATHRYN L. SINES TREASURER / CFO.
HUDSON CITY SCHOOLS FINANCIAL REPORT October 2014 Five-Year Forecast Update KATHRYN L. SINES TREASURER / CFO www.sinesk@hudson.edu 1 Forecast Purpose This forecast is intended to assist the school district
More informationSPOONER AREA SCHOOL DISTRICT BUDGET PRESENTATION
SPOONER AREA SCHOOL DISTRICT 2012-2013 BUDGET PRESENTATION OVERVIEW As reported at last Monday s Board meeting, through planned reductions and unplanned savings, we had a nice 2011-2012. State Categorical
More informationNOTICE TO TAXPAYERS. The Notice to Taxpayers is available online at or by calling (888)
Prescribed by the Department of Local Government Finance Approved by the State Board of Accounts NOTICE TO TAXPAYERS Budget Form No. 3 (Rev. 2018) Print 8/9/2018 12:12:13 PM The Notice to Taxpayers is
More informationProperty Taxation 101 Updated August 2016
Property Taxation 101 This guide is intended to describe the basics of Minnesota s property tax system. This system collected just over $6.7 billion in 2016 to help fund the services of schools, counties,
More informationSUMMARY OF OPERATIONAL ASSESSMENT FINDINGS AND EFFICIENCY OPPORTUNITIES IN THE INDIANAPOLIS PUBLIC SCHOOLS
SUMMARY OF OPERATIONAL ASSESSMENT FINDINGS AND EFFICIENCY OPPORTUNITIES IN THE INDIANAPOLIS PULIC SCHOOLS PREPARED FOR THE INDY CHAMER July 11, 2018 1 Introduction Over the last approximately 110 days,
More information2016 Budget CENTER GROVE COMMUNITY SCHOOL CORPORATION. Budget Hearing September 24, 2015
2016 Budget CENTER GROVE COMMUNITY SCHOOL CORPORATION Budget Hearing September 24, 2015 Budget Adoption Calendar September 4, 2015 Budget Advertised September 24, 2015 October 6, 2015 Budget Hearing Bus
More informationFive Year Forecast Financial Report
RIVER VALLEY LOCAL SCHOOL DISTRICT MARION COUNTY Five Year Forecast Financial Report May, 2017 1 Table of Contents Table of Contents 2 Executive Summary 3 PAGE # Revenue Overview 4 1.010 General Property
More informationANDERSON COUNTY SCHOOL DISTRICT NUMBER THREE
ANDERSON COUNTY SCHOOL DISTRICT NUMBER THREE ANNUAL FINANCIAL REPORT June 30, 2017 (With Independent Auditors Report Thereon) Annual Financial Report Table of Contents June 30, 2017 Page(s) Independent
More informationMiami County, Ohio FIVE-YEAR FINANCIAL FORECAST NOTES AND ASSUMPTIONS. For the Fiscal Years Ending June 30, 2013 through 2017
Miami County, Ohio FIVE-YEAR FINANCIAL FORECAST NOTES AND ASSUMPTIONS For the Fiscal Years Ending June 30, 2013 through 2017 May 13, 2013 General The Ohio Constitution assigns the state the responsibility
More informationINDIANA ASSOCIATION OF SCHOOL BUSINESS OFFICIALS 2018 HEA 1009 WORKSHOPS Frequently Asked Questions
INDIANA ASSOCIATION OF SCHOOL BUSINESS OFFICIALS 2018 HEA 1009 WORKSHOPS Frequently Asked Questions 1. What is the Assessed Value Growth Quotient (AVGQ)? 1 P a g e The AVGQ is the average growth in non-farm
More information2016 Special Election. February 9, 2016
2016 Special Election Auburn School District #408 February 9, 2016 Section One - Summary Superintendent s Recommendation... 3 Ballot Propositions... 4 Combined Levy Amounts and Tax Rates... 5 Levy Comparisons...
More informationUnderstanding the K-12 General Education Funding Program
Understanding the K-12 General Education Funding Program 2002-03 Money Matters: Number 02.06 June 2002 Greg rowe, Fiscal Analyst, 296-7165 Fiscal Analysis Department Minnesota House of Representatives
More informationAnnual Financial Statements June 30, Draft Financial Statements-Final
Annual Financial Statements June 30, 2016 Blissfield, Michigan FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS' REPORT Year Ended June 30, 2016 TABLE OF CONTENTS Page Independent Auditors' Report 1-2 Management
More informationManagement Report. for. Independent School District No. 281 Robbinsdale, Minnesota June 30, 2007
Management Report for Independent School District No. 281 Robbinsdale, Minnesota June 30, 2007 To the School Board of Independent School District No. 281 Robbinsdale, Minnesota We have prepared this management
More informationPROPOSED BUDGET
PROPOSED BUDGET 2018-2019 Budget Vote: May 15, 2018 SIS Music Room: 10:00 a.m. 9:00 p.m. 1 q Major Considerations Ø School Safety & Security Ø Social Emotional Programs Ø Build Upon Live Streaming q Components
More informationOctober. November. December-February. February-April. April. May. Administrators begin budget discussion.
January 9, 2019 August Administrators begin budget discussion. October The budget development schedule and directions are sent to central office administrators, principals and directors, including per
More informationProperty Tax 101. Amy Koethe Dakota County Property Taxation & Records Jeanne Vogt - Ehlers
Property Tax 101 Amy Koethe Dakota County Property Taxation & Records Jeanne Vogt - Ehlers 1 Minnesota GFOA Conference Arrowwood Resort September 28, 2017 Overview Minnesota has one of the most complex
More informationThis Final Official Statement is dated November 16, 2017
NEW ISSUE Book-Entry-Only Non-rated This Final Official Statement is dated November 16, 2017 In the opinion of Ice Miller LLP, Indianapolis, Indiana ( Bond Counsel ) under federal statutes, decisions,
More informationVillage of Kenilworth
Village of Kenilworth Village Board of Trustees KW2023 FUNDING AND OPTIONS FOR THE SERIES 2015B BONDS September 18, 2017 Village of Kenilworth Funding Options KW2023 Phase II No formal decision regarding
More informationLoveland City Schools FY Revenue
FREQUENTLY ASKED QUESTIONS 1. Where does the Loveland City School District revenue come from? In Ohio, the funding of schools is shared by the state and local school districts. The Ohio General Assembly
More informationMILLBRAE SCHOOL DISTRICT COUNTY OF SAN MATEO MILLBRAE, CALIFORNIA AUDIT REPORT. June 30, 2016
MILLBRAE SCHOOL DISTRICT COUNTY OF SAN MATEO MILLBRAE, CALIFORNIA AUDIT REPORT June 30, 2016 CHAVAN & ASSOCIATES, LLP CERTIFIED PUBLIC ACCOUNTANTS 1475 SARATOGA AVE., SUITE 180 SAN JOSE, CA 95129 This
More informationSchool Board s Advertised Budget Fiscal Year 2014
School Board s Advertised Budget Fiscal Year 2014 Milton C. Johns Chairman At-Large Presented to Prince William Board of County Supervisors April 2, 2013 Major Budget Factors 1. Costs associated with 2,089
More informationTOWN OF YARMOUTH, MAINE. Annual Financial Report. For the year ended June 30, 2017
Annual Financial Report For the year ended June 30, 2017 Annual Financial Report Year ended June 30, 2017 Table of Contents Statement Page Independent Auditor's Report 1-3 Management s Discussion and Analysis
More informationThe Little Rock School District of Pulaski County, Arkansas ANNUAL FINANCIAL REPORT
ANNUAL FINANCIAL REPORT June 30, 2012 ANNUAL FINANCIAL REPORT Table of Contents INDEPENDENT AUDITORS REPORT ON FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION 1 2 MANAGEMENT S DISCUSSION AND ANALYSIS
More informationManchester Community Schools
Manchester Community Schools Frequently Asked Questions Question: Why are there maximum financial parameters included in the Financial Presentation power point from Umbaugh and the Notice of Preliminary
More informationII. Financial Section
II. Financial Section Independent Auditor's Report Honorable Chairperson and Board Members of The School Board of Miami-Dade County, Florida Report on the Financial Statements We have audited the accompanying
More informationFulton Schools Middleton, Michigan FINANCIAL STATEMENTS. June 30, 2018
Middleton, Michigan FINANCIAL STATEMENTS Middleton, Michigan BOARD OF EDUCATION Karla Childers President Lee Williams Vice-President Deana Grover Secretary Amy Case Treasurer Edward V. Lorenz Trustee Matthew
More informationCaldwell-West Caldwell School District School Budget PUBLIC HEARING APRIL 28, 2014
Caldwell-West Caldwell School District 2014-2015 School Budget PUBLIC HEARING APRIL 28, 2014 Agenda for Public Hearing The Objectives and Context of the 2014-2015 Budget What is contained in the 2014-2015
More informationKIEL AREA SCHOOL DISTRICT KIEL, WISCONSIN FINANCIAL STATEMENTS WITH INDEPENDENT AUDITORS' REPORT JUNE 30, 2016
KIEL, WISCONSIN FINANCIAL STATEMENTS WITH INDEPENDENT AUDITORS' REPORT JUNE 30, 2016 TABLE OF CONTENTS JUNE 30, 2016 Page 3-5 Independent Auditors' Report 6-14 Management s Discussion and Analysis BASIC
More information