CEDAR FALLS COMMUNITY SCHOOL DISTRICT

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1 CEDAR FALLS COMMUNITY SCHOOL DISTRICT District Financial Report February 10, 2014

2 IASB Key Financial Dashboard Indicators #1 Certified Enrollment #2 Financial Solvency Ratio #3 Unspent Budget Authority #3A Unspent Budget Authority Ratio #4 Annual Unspent Budget Authority Ratio #5 Salaries & Benefits to Total Budget Ratio Background Color Green = Increase of 0.01% or greater Yellow = 0.00 to 5.00% decrease Orange = Greater than 5.00% decrease

3 Certified Enrollment History Key Trend Dashboard Indicator #1 5,600 5,400 5,200 5,000 4,800 4,600 4,400 4,200 4,000 10/ / / / / / / /2013 Certified less PLS PLS OE In Tuition In River Hills Tuition In Increase of 13.2% over the last 8 years. 4 year old pre-school students not included.

4 CAR General Fund Balance Millions $14 $12 $10 $8 $6 $4 $2 $ Total Assets (Cash/Receivables/Inventory) Fund Balance (Assets less Payables) $203,618 increase in cash on hand and $952,241 increase in fund balance.

5 General Fund Revenue/Expenditure History Includes Instructional Support Fund Millions $55 $50 $45 $40 $35 $ Revenue Expenditures Revenue increased by $4,109,844 and expenditures increase by $4,335,395 from to

6 ISL (only) Revenue/Expenditure Detail Millions $2.4 $2.2 $2.0 $1.8 $1.6 $2.03 $1.84 $1.92 $1.81 $2.03 $1.64 $2.09 $2.10 $1.85 $1.91 $2.15 $2.12 $2.20 $2.01 $1.4 $1.2 $ Revenue Expenditures

7 History of General Fund Revenue Millions $55 $50 $45 $40 $35 $30 $25 $20 $15 $10 $5 $0 $1.79 $2.36 $2.26 $1.47 $1.07 $4.50 $24.48 $0.96 $24.62 $21.45 $18.27 $19.95 $20.93 $17.99 $3.55 $16.07 $15.93 $16.53 $17.33 $18.36 $19.34 $ Local Local RH State Federal

8 History of General Fund Expenditures Millions $51 $48 $45 $42 $39 $36 $33 $30 $27 $24 $21 $1.93 $1.20 $1.93 $3.62 $1.17 $1.95 $3.39 $4.94 $1.88 $0.98 $0.98 $3.10 $3.19 $4.68 $2.62 $4.18 $4.36 $2.51 $3.54 $2.50 $2.55 $31.48 $31.64 $27.64 $ Instruction Inst. RH Spt. Srv. Admin. Maint. Transp. Flow Thru Spt. Srv. = Guidance, health, media and technology services. Admin. = BOE, district & building administration, business, purchasing, printing and personal services.

9 Financial Solvency Ratio Key Trend Dashboard Indicator #2 14% 12% 10.70% 10.94% 10.69% 11.90% 10% 8% 8.67% 8.68% 8.38% 6% 4% 2% 0% Assigned & unassigned fund balance/general fund revenue less AEA flow thru. Measures the District s fund equity position. IASB recommended minimum 5%. Goal 10%

10 Staffing History (in FTE) Teacher Hlth. Serv. ParaProf. Cust./Maint Clerical Admin. Transp. Other Food Service staff is not included.

11 Student Teacher Ratio History Enrollment per FTE FY06 FY07 FY08 FY09 Fy10 Fy11 Fy12 Fy13 Students served (Resident/OE In/Tuition In & Dual Enroll/PT Students) / Teacher FTE (Reg./Sp. Ed./ Guidance/Media) as of October 1. Pre-School students & staff are not included.

12 History of Unspent Budget Authority Key Trend Dashboard Indicator #3 Millions $10.0 $9.0 $8.0 $7.0 $6.0 $5.0 $4.0 $3.0 $2.0 $1.0 $ Total Unspent Authority Unassigned/Unrestricted Unspent Authority Assumes SBRC approval of special education deficit request!

13 History of Unspent Budget Authority Ratio Key Trend Dashboard Indicator #3A 16.0% 14.0% 12.0% 10.0% 8.0% 6.0% 4.0% 2.0% 0.0% 14.87% 15.23% 13.47% 13.17% 13.71% 11.14% 11.50% 8.25% 8.30% 8.84% 6.52% 6.19% 4.65% 5.59% Total Unspent Authority Ratio Unassigned/Unrestricted Unspent Authority Ratio A goal of 10% unassigned/unrestricted unspent authority over expenditures ($5.00 million) is desired. District is at 13.71% for Assumes SBRC approval of special education deficit request!

14 Annual Unspent Budget Authority Ratio Key Trend Dashboard Indicator #4 4.00% 3.50% 3.00% 2.50% 2.00% 1.50% 1.00% 0.50% 0.00% -0.50% -1.00% -0.45% 3.78% 3.39% 2.92% 2.32% 1.98% 1.31% 0.63% Assumes SBRC approval of special education deficit request! Ratio would have been 2.14% if not for the addition of River Hills School.

15 Cash vs. Unspent Budget Authority Millions $11.0 $10.0 $9.0 $8.0 $7.0 $6.0 $5.0 $4.0 $3.0 $2.0 $ Total Unspent Authority Cash Balance Assumes SBRC approval of special education deficit request!

16 Unspent Budget Authority As Percentage of Maximum Budget Authority 17% 15% 13% 11% 9% 7% 5% Total Unspent Authority w/o Sp Ed Deficit Total Unspent Authority Measures the percent of District s budget authority at the end of each year. Assumes SBRC approval of special education deficit request!

17 Fund Balance As a Percentage of Unspent Authority 140% 130% 120% 110% 100% 90% 80% 70% 60% 50% Measures the percent of the District s ability to finance it s unspent budget authority.

18 Days Net Cash Ratio Days /30/07 6/30/08 6/30/09 6/30/10 6/30/11 6/30/12 6/30/13 Cash & investments/avg. daily cash expenditures. A goal of 90 days is desired.

19 Fund Balance As a Percentage of Expenditures 14.0% 12.0% 10.0% 8.0% 6.0% 4.0% 2.0% 0.0% Measures the percent of the District s cash available to cover non-funded months. Goal 10%

20 Salaries & Benefits to Total Expenditures Ratio Key Trend Dashboard Indicator #5 83.0% 82.0% 81.0% 80.0% 79.0% 78.0% 77.0% 76.0% 75.0% 74.0% 73.0% 82.10% 81.32% 82.32% 81.97% 81.13% 80.30% 80.07% 77.85% 74.33% Measures the percent of the District s budget dedicated to labor costs % w/o increase in tuition out (PLS Fy12, RH Fy13).

21 History of Assessed Valuation Billions $2.0 $1.8 $1.6 $1.4 $1.2 $1.0 $0.8 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 Fy13 Fy14 Fy15 Basic Valuation Valuation w/ TIF Basic Valuation increased 10.4% from Fy12 to Fy13 & 66.6% over the past 10 years. Valuation w/ TIF increased 9.5% from Fy12 to Fy13 & 78.9% over the past 10 years.

22 Combined District Cost Property Tax/State Aid History 70% 65% 60% 55% 50% 45% 40% 35% 30% 25% 20% 62.92% 62.73% 62.51% 62.48% 62.53% 62.84% 61.80% 37.08% 37.27% 37.49% 37.52% 37.47% 37.16% 38.20% State Aid Property Tax

23 Financial Dashboard FY13 Certified Enrollment FY12 Solvency Ratio FY12 UBA Per Pupil Rank = 17 th Largest CF = 4,862.4 Fy13/ Fy14 +97% -17% Rank = 254 out of 346 State Avg. = 16.46% CF = 10.69% Fy12/11.90% Fy13 +$18,686 -$1,771 Rank = 271out of 346 State Avg. = $2,830 CF = $1,659 Fy12/$1,859 Fy13 FY13 Valuation/Pupil FY13 General Fund Tax Rate FY13 Total Tax Rate $1,127,884 $151,006 Rank = 155 out of 346 State Avg. = $343,003 CF = $322,044 F13/$363,143 F14 $ $ Rank = 162 out of 346 State Avg. = $ Cedar Falls = $ /$ $ $ Rank = 118 out of 346 State Avg. = $ Cedar Falls = $ /$

24 Budget Highlights Courtesy

25 Budget Highlights May, Iowa Legislature and Governor Branstad agree to a 2% increase in cost per pupil funding for the school year. ($6,128) May, 2013 Iowa Legislature and Governor Branstad also agree to an additional one time allocation equal to 2% for the school year. ($583,488) May, 2013 Iowa Legislature and Governor Branstad agree to a 4% increase in cost per pupil funding for the school year. ($6,373)

26 Budget Highlights October, 2013 District certified enrollment dips 3.3 students to 4, students are open enrolled out other Districts. October, 2013 Total students served (includes 4 yr. old & River Hills) by the District increases 14.1 students to 5, students are open enrolled in from other Districts students attend River Hills School 48.5 students (weighted) enrolled in 4 yr. old program 97 actual students Enrollment is projected to continue increasing creating more pressure to keep student-teacher ratios down as the District works with limited resources. 5 yr. avg. inc. (Fy09 Fy13) students/yr. (includes OE in) 10 yr. avg. inc. (Fy04 Fy13) students/yr. (includes OE in) River Hills students are not included

27 History of Supplemental State Aid (Allowable Growth) 8% 7% 6% 5% 4% 3% 2% 1% 0% State Avg. Cedar Falls CF w/o PLS "Plus 2"

28 Projected Fy15 Settlements vs. Fy15 Supplemental State Aid Millions $2.0 $1.8 $1.6 $1.4 $1.2 $1.0 $0.8 $0.6 $0.4 $0.2 $0.0 Fy % AG 5% 4% 3% 2% Additional costs resulting from required changes in the school year calendar and implementation of the Patient Protection Affordable Health Care Act are NOT included.

29 Other District Funds Other District funds: Management Physical Plant & Equipment Levy (PPEL) Secure A Vision for Education (SAVE) (formally LOT) Activity Nutrition These are specific use funds that are subject to laws and regulations established by the Code of Iowa and Iowa Administrative Code.

30 Management Fund Restricted fund Board of Education Controlled Used for property/liability/auto/workman compensation/etc. insurance premiums Property loss not covered by deductibles Early severance benefits

31 Management Fund Thousands $1,300 $1,200 $1,100 $1,000 $900 $800 $700 $600 $500 $400 $300 $1,145 $1,209 $1,200 $985 $1,127 $888 $748 $573 $579 $564 $482 $579 $578 $ Total Assets Fund Balance

32 Secure A Vision for Education (SAVE) Formally LOT Restricted fund Construction, remodeling, repairing and furnishing of new or existing buildings Purchase or improve school grounds Procure or open roads to buildings Emergency repairs Payment of principle and interest or retirement of general obligation bonds

33 Secure A Vision for Education (SAVE) Formally LOT Millions $18 $16 $14 $12 $10 $16.12 $14.73 $14.73 $14.43 $12.46 $11.45 $8 $6 $4 $2 $6.87 $6.59 $3.80 $3.80 $6.87 $5.96 $6.12 $5.47 $ Total Assets Fund Balance

34 Physical Plant & Equipment Levy Restricted fund with two parts Board of Education Controlled up to $0.33/$1,000 (regular) Voters approved additional $1.34/$1,000 levy Can be used for: Purchase or improvement of grounds Construction, repairing or remodeling of schoolhouses or roads to schoolhouses including debt for same Purchase or lease of equipment greater that $500 per unit Technology bundling included Purchase or lease of school buses or other vehicles Leasing or renting of facilities

35 Physical Plant & Equipment Levy Millions $4.0 $3.5 $3.0 $2.5 $2.0 $1.5 $1.56 $1.38 $2.80 $2.55 $3.27 $3.41 $3.09 $2.49 $2.23 $1.54 $2.83 $2.68 $1.0 $0.5 $0.64 $0.56 $ Total Assets Fund Balance

36 Activity Fund Restricted fund Account for student-related activities Admissions Activity Fees Student Dues Student Fund Raising Events Student related co-curricular or extra-curricular activities

37 Activity Fund Thousands $650 $600 $550 $560 $534 $603 $573 $627 $621 $588 $584 $629 $615 $500 $450 $400 $350 $522 $509 $486 $475 $ Total Assets Fund Balance

38 Nutrition Fund Restricted fund Considered an Enterprise Fund Business type activity Fund for which a fee is charged to external users for good or services Account for all transactions for nutrition programs authorized under Iowa Code Chapter 283A

39 Nutrition Fund Thousands $900 $800 $700 $678 $846 $857 $745 $773 $794 $788 $730 $722 $600 $589 $500 $400 $483 $418 $501 $436 $ Total Assets Fund Balance

40 Summary As of June 30, 2013 District s financial condition: State fully funds cost per student for Fy13 District increases General Fund cash balance Increase of $203,618 (June 20, 2013) Increase in Districts unspent budget authority is primarily due to our special education deficit ($656,770)

41 Summary Increases in enrollment without increases in supplemental state aid (allowable growth) puts more pressure on general fund Commercial property tax reform legislation will impact overall district assessed valuation Possible higher residential property tax rate Continued requirements and changes in curriculum may necessitate additional teaching staff Changes in the weighting matrix for special needs students has significantly reduced funding for entitled services District must still meet the needs of students Medicaid funding helped reduce special education deficit (Fy13) Patient Protection and Affordable Health Care Act will increase special education staff costs Special education deficit will continue

42 Summary Legislative changes in the school day may significantly impact the District s Authorized Unspent Budget Authority in the future We must continue to closely monitor budget and funding changes in order to make decisions that Maintain a positive learning environment Maintain a positive financial condition

43 Special thank you to Denelle Gonnerman, Carrie DeBerg and the District Business Office Staff for their assistance. Questions?

CEDAR FALLS COMMUNITY SCHOOL DISTRICT. Annual District Financial Report December 10, 2018

CEDAR FALLS COMMUNITY SCHOOL DISTRICT Annual District Financial Report December 10, 2018 Where to Begin - Legal Basics Home Rule Governing body has authority to take any action as long as it is not prevented