IOWA CITY COMMUNITY SCHOOL DISTRICT FY2018 QUARTERLY FINANCIAL REPORT Period Ending 06/30/2018

Transcription

1 IOWA CITY COMMUNITY SCHOOL DISTRICT FY2018 QUARTERLY FINANCIAL REPORT Period Ending 06/30/2018 Prepared by Business Services Report Prepared for ICCSD Board Of Education November 14, 2017 February 13, 2018 May 8, 2018 August 14, 2018 Report Location Weblink

2 TABLE OF CONTENTS Table of Contents 1 Executive Summary 2 District Funds Explanation Summary 3 Dashboard 4 Cost Comparisons 5 All Funds Cash Receipts and Disbursements 6 General Fund Quarterly Receipts 7 General Fund Quarterly Disbursements 9 Projected Unspent Balance with Future Periods 10 Budget Facts and Future Considerations 11 1

3 Executive Summary Key Report Assumptions: Executive Summary 1. Beginning of year balances use a modified accrual basis of accounting. 2. End of year balances require a 60 day accounting window for accrual adjustments. The 3. Special District's Education overall deficit financial funding condition balances was are stable projected. during the FY2010 fiscal year but there continues to be key indicators 4. All financial that schedules need improvement. for the quarter are taken from the ledger on a cash basis. 5. School Budget Review Committee consideration for modified supplemental assistance of ELL, asbestos, advance funding The District s and special unreserved education General are applied Fund and balance recorded increased the amounts from ($2,622,526) approved. to ($2,078,767). This improved the District's financial solvency ratio from (3.95) for FY2009 to (3.03%) for FY2010. A target of 10% is optimal for The this following indicator. items address key or significant items in the quarterly operating results and unique events or statistics presented for this quarter and the projected unspent balance schedule. The certified enrollment of 8,342.7 was is taken on October 1, This count represents an increase of A. The District has budgeted all governmental funds based upon projected revenues and disbursements as of June 30, students from the prior year. Student growth continues to present many challenges for the district. The Expenditures for the PPEL and Capital Projects(SAVE) funds are based upon the expected project costs from district has added over k12 students in fiscal years, 2008, 2009, the Facilities Master Plan that are funded with prior year reserves, financing completed in prior years or sale of Sales Tax Interest Revenue rates bonds decreased in the current for the year. investment The budget of idle for funds. Capital Rates Projects on (GO district Bonds) investments includes the declined funding from from.051% the in December June of bond to XXXX% sale and in FMP June documents. of Interest earnings in the General Fund decreased from $379,684 in FY2009 to $80,615 in FY2010. Lower average balances of idle funds also contributed to this decrease. B. The District receives property tax receipts from the County on a monthly basis, based upon the timing of the The County's District collection ended FY2009 in the previous with a total month. General The District's Fund balance property of $1,901,978. tax receipts are For reasonable FY2010 this to the balance projected levy decreased amounts and to prior ($543,953). year collection This reduction trends. (page of $2,445,931 7) is primarily due to an insufficient cash reserve tax asking in prior budgets, continued special education deficit spending, and Iowa DE rule changes that did not allow C. The the revenues district for to special receive education modified tuition, allowable district growth court in placed, FY2010 transportation for At Risk aid programming. and Medicaid all vary from the prior year due to the timing of these receipts from other governmental agencies. These receipts will be included FY2010 with cash the flow fiscal needs yearend did require accounting the District adjustments. interfund (pages borrow 8 and a 9) maximum Revenues principal include the loan sale amount of $21 and of $9 $8,000,000 million of sales at $0.129% tax bonds interest August rate This and principal June 2018, balance respectively, was repaid and prior $58.9 to million the end General of the Obligation fiscal year. Bonds The in District December did not participate in (ISCAP). D. District General longterm fund expenditures debt as of by June function 30, 2010 reflect totaled the additions/changes $x compared to from $96,325,000 prior year the including prior year. increased School staff for the infrastructure Limited English local Proficiency option sales program, and enrollment service tax growth bonds, and Capital the opening loan notes, of Liberty and High. multiple The series Teacher of regular Leadership General and Compensation obligation program bonds account that began for in this 2016 total. is primarily Interest expended payments in of the $x Instructional were made Support in FY2010 Services to service function. this debt. (page 9) E. Local The District Option has Sales updated Tax revenue the projected totaled Unspent for FY2010 Balance $6,373,745 schedule as with follows expenditures (page 10): / transfers of $x compared to FY2009 All FY revenue 17 amounts of $7,720,268 are based upon and amounts expenditures certified / transfers to the Dept. of $3,078,864. of Education including the SBRC allocation for Limited English Proficiency and Special Education Deficit which received SBRC approval at the December 2017 The construction of Ankeny High School in Prairie Trail along with Southview Middle school continued as meeting. (line 31 and 33). construction in progress for FY2010. FY 2018 amounts for the Controlled Budget are based upon final Aid & Levy reports for this fiscal year. The The Special FY 2018 Education amount program for special fund education balance deficit ended and fiscal ELL year allocations 2010 with are based a balance upon of estimates ($x) compared for current to year FY2009 operations. with The a ($1,512,713) increased expenditures balance. This in these is an programs decrease are of due ($x) to from additional the prior staff year. required to meet federal and state guidelines and increased enrollments. Advanced funding and asbestos amounts are based upon applications that have been The approved Student Transportation at the December ratio 2017 shows and March an increase 2018 meetings, from 3.25% respectively. in FY2007 to 3.31% in FY2008. A new three year The contract FY18 agreement expenditures extension increased was by more approved than the between projected Durham rates due and to the higher District. staffing The levels agreement for enrollment will take effect growth, July increased 1, support Regular staffing route and pricing higher increased utilities compared from $ to prior in FY2007 years. to $ The $544,832 additional costs on line 41 for FY2020 and the corresponding allowable growth on line 36 are The primarily District's for taxable the staffing valuation costs for continues opening to of grow. Grant Elementary In January in 2008 August the valuation was computed to be $1,891,308,608 Projections compared for FY 2019 to are $1,733,617,954 based upon the in approved FY2007, 1% an increase growth in of state $157,690,654 supplemental or aid 9.10%. for Future projections include 1% growth for Fy 2020 and 1.5% growth for and enrollment projections provided by De The JongRichter Day's Net Cash adjusted Ratio to 75%. shows These that assumptions the District's will cash be updated flow capacity and adjusted declined. as legislative On June actions 30, 2008 or the future District had reports a combination become available. of cash and investments on hand totaling $11,116,088. This amount when divided by FY2008 average daily expenditures of $170,908 yields 65 days of operating cash flow. F. The district has projected an increase of $532,000 for the increase in the employer contribution rate for IPERS in FY 2019 as provided to school districts in October The district is planning a GO bond sale of approximately $65 million in early 2019 to fund the accelerated FMP. G. Future Facility Master Plan projects will include the remediation of environmental hazards in FY2019 that must be expended from the general fund to receive SBRC support. The costs for these services are reflected in line 46 with a corresponding increase in the SBRC action on line 35. 2

4 District Funds Explanation Summary: General Fund (10): Monies received from taxes and other sources must be accounted for here except monies required by law to be accounted for in another fund. Money In: School funding formula state aid and property taxes; instructional support program; grants; & most miscellaneous income Money Out: Staff costs (wages, health insurance etc.) used to deliver the instructional programming; classroom supplies and equipment; all utilities, purchased services, care and maintenance of buildings, & bus transportation. Student Activity (21): Used to directly support the cocurricular opportunities provided to students. Money In: Activity admission fees i.e. sporting events, music & drama programs; club fees; & student fundraising. Money Out: Student registration fees; supplies; equipment; & travel costs. Management (22): Limited use special purpose fund. Money In: Board of Education approved property taxes. Money Out: Pays for property and liability insurance coverage; early retirement payments; unemployment claims. Capital Projects (31 and 33): Used to account for the FMP projects being funded by sales tax and bond issues. Money In: 1 cent sales tax; general obligation bonds (when voter approved); & revenue bonds (when board approved) Money Out: Only those expenditures as provided under the voter approved revenue purpose statement, primarily construction and renovation of school buildings. Physical Plant & Equipment Levy (36): Used in part to fund the FMP but the primary use is the maintenance of over $300M in district infrastructure by funding the expenditures within the life cycle replacement categories. Money In: Voter approved $1.34 / $1,000 assessed valuation to sunset in 2025 and the annually approved Board of Education $0.33 / $1,000 assessed valuation. Money Out: Sidewalks, roofing, classroom furniture, exterior building brick repair, plumbing, electrical, & playgrounds. Debt Service (40): Limited use special purpose fund. Money In: Property taxes levied to service debt and monies collected from other sources and transferred to this fund. Money Out: To service the principal and interest requirements on any outstanding debt. School Nutrition (61): Is an enterprise type of fund used exclusively for tracking Nutrition program activity. Money In: Student breakfast and lunch meal fees; State and Federal reimbursements; and catering. Money Out: Wages and benefits, food, supplies, equipment, and any other expenditure related to the nutrition program. Health Self Insurance (71): Limited use special purpose fund. No budget is established for this fund since it is an internal service fund where the revenue and expenditures are budgeted in another fund. Money In: District contributions and employee withholding funds. Money Out: To pay the medical insurance claims from covered members along with all other related medical program fees. Dental Insurance (74): Limited use special purpose fund. No budget is established for this fund since it is an internal service fund where the revenue and expenditures are budgeted in another fund. Money In: Employee withholdings and District contributed funds. Money Out: To pay the dental insurance premiums claims for covered members along with all other related medical program fees. School Children's Aid (82): Limited use special purpose fund. (No tax dollars) Money In: Donations from the United Way, community service clubs, and church groups. Money Out: Schools supplies and needed student clothing. School Based Health Clinics (84): Limited use special purpose fund. (No tax dollars) Money In: A partnership with the United Way, Community Foundation, Mercy Medical, and U of I Hospitals and Clinics. Money Out: Supplies, dental screenings and prescriptions. 3

5 11, , , , ,010.8 Deficit 12, , , , , , , ,450.4 Open Enrollment Students 14, , ,075.9 Report Period: FY2018 Iowa City Community School District Quarterly Report Information FY2019 Property Tax Summary of 333 General Fund Tax Rate Rank Taxes Levied Rank Uniform Levy Rate $ $ 30,733,224 2 Additional Levy Rate $ $ 18,619,039 4 SBRC Cash Reserve $ $ 8,000,000 2 Regular Cash Reserve $ $ 4,500,000 1 Total Cash Reserve $ $ 12,500,000 2 ISL Property Rate $ $ 577, Total General Fund Levy $ $ 62,429,365 3 of 333 NonGeneral Fund Tax Rate Rank Taxes Levied Rank Management Levy $ $ 4,500,027 4 Voted PPEL Levy $ $ 8,347,380 1 Regular PPEL Levy $ $ 2,055,698 2 Total PPEL Levy $ $ 10,403,078 1 Playground Levy $ $ Debt Service Levy $ $ 3,293, Total NonGeneral Fund Levies $ $ 18,196,458 3 Total Property Tax Rate & Dollars Levied $ $ 80,625,823 2 of 333 Property Valuation Information Total Rank Per Pupil Rank Net Property Value with G&E $5,691,337,689 2 $ 407, TIF Value $538,050,473 3 $ 40, Total Property Value with TIF $6,229,388,162 2 $ 467, TIF Value as % of Total Value 8.64% 53 of 333 Income Surtax Information Rate Rank Dollars Rank ISL Income Surtax Rate 5.00% 153 $ 6,820,672 2 PPEL Income Surtax Rate $ Total Income Surtax Rate 5.00% 181 $ 6,820,672 2 Note: All references to FY 2018 unless otherwise specified % 103.0% 102.0% 101.0% 100.0% 14.00% 12.00% 10.00% 8.00% 6.00% 4.00% 2.00% 0.00% 99.0% 98.0% 97.0% 96.0% 95.0% 8.00% 6.00% 4.00% 2.00% 0.00% 102.0% Regular Program Budget Growth Given a Combination of New State Aid and Student Enrollment Growth Compared to the Legislative set State Rate 5.70% 4.62% 2.00% 2.00% 7.13% 4.00% 2.55% 1.25% 5.08% FY2013 FY2014 FY2015 FY2016 FY % District Budget Growth State Legislative Set Rate Annual Expenditures Compared to Annual Funding Annual Funding Line 97.9% 99.7% 103.1% 101.9% Annual Expenditures 2.45% FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 Cash as a Percentage of Total Revenue (Solvency) Healthy Budget 10% Target Line Annual Cash Balance Ratio % 97.7% 99.3% Iowa City Community School District 16,000 15,500 15,000 14,500 14,000 13,500 13,000 12,500 12,000 11,500 11,000 10,500 10,000 Historical and (*Projected) Budget Enrollment (October 1, xxxx) Special Education Students as a Percentage of Total Student Population and Excess Costs over Funding $ $(1,000,000) $(2,000,000) $(3,000,000) $(4,000,000) $(5,000,000) $(6,000,000) $(7,000,000) FY07 FY08 FY09 FY10 FY11 FY12 FY13 SpEd students as a percentage of Total Student Population FY14 FY15 Annual SpEd Deficit FY16 FY % 18.00% 16.00% 14.00% 12.00% 10.00% 8.00% (100) (200) (300) (400) Open Enrollment In Out Net Source: Iowa Department of Management & District Reports 4

6 TOTAL COST SUMMARY COST & Iowa School Districts Cost Per Student Total Cost Summary FY 2017 Comparable 10 Largest Iowa School Districts Des Moines RANKINGS Independent Cedar Rapids Davenport Sioux City Iowa City Ankeny Waterloo Dubuque WaverlyShell Rock Per Student General Fund $ 13,401 $ 12,261 $ 12,932 $ 11,414 $ 11,286 $ 10,243 $ 11,619 $ 12,096 $ 10,641 Per Student Administration $ 1,063 $ 1,184 $ 1,141 $ 814 $ 793 $ 806 $ 1,062 $ 868 $ 813 Per Student Instruction $ 8,344 $ 7,927 $ 8,313 $ 7,730 $ 7,657 $ 6,676 $ 7,323 $ 8,206 $ 7,434 Per Student Support Staff $ 1,723 $ 1,276 $ 1,471 $ 1,168 $ 1,085 $ 1,084 $ 958 $ 1,093 $ 940 Per Student Operational $ 1,071 $ 892 $ 819 $ 844 $ 922 $ 758 $ 1,002 $ 885 $ 736 Per Student Transportation $ 347 $ 362 $ 439 $ 329 $ 246 $ 348 $ 452 $ 372 $ 277 General Fund Per Student Rank Administration Per Student Rank Instruction Per Student Rank Support Staff Per Student Rank Operational Per Student Rank Transportation Per Student Rank Des Moines Independent Cedar Rapids Davenport Sioux City Iowa City Ankeny Waterloo Dubuque WaverlyShell Rock Council Bluffs General Fund Per Student Rank Administration Per Student Rank Instruction Per Student Rank Support Staff Per Student Rank Operational Per Student Rank Transportation Per Student Rank Rank #1Highest Spending Per Student. FY17333 School Districts Key: This spreadsheet has been heat mapped where the dark green cells represent the most efficient and lowest cost per student while the dark red represents the least efficient and highest cost per student. Definitions / Interpretation: Administration = All administration and Board of Education costs: (Dark Green: A rank of 324 of 333 districts statewide is excellent and one of the lowest cost districts in the state) Instruction = classroom teachers (Light Green: A rank of 217 of 333 total districts puts us mid pack) Support staff = attendance, social workers, guidance, health, improvement of instruction, library media (Yellow: a rank of 61 of 333 illustrates significant resource allocations per student) Operations = physical plant, custodians, building upkeep, utilities (Pink: a rank of 111 of 333 illustrates operational inefficiencies per pupil due to the large number of smaller / older buildings in service) Transportation = Durham contract (Dark Green: a rank of 323 of 333 puts us as one of the most efficient districts in the state for transportation costs) General Fund = overall costs (Light Green: a rank of 217 places total general fund spending in the 2nd most efficient quartile of all Iowa schools) Sources: Iowa Department of Education (FY 2017 CAR file) and IASB analysis and calculations 5

7 Fd# Fund Beginning Balance July 1, 2017 Iowa City Community Schools Combined Statement of Receipts and Disbursements (Cash Basis) Period Ending 6/30/18 Budgeted Receipts Receipts to Date Receipts as % Budget Budget Disbursements Disbursements To Date Disbursements as % Budget 10 General Fund $ 23,833, $ 161,873, $ 162,424, % $ 162,219, $ 165,112, % $ 21,145, Student Activity $ 801, $ 3,406, $ 3,203, % $ 3,507, $ 3,296, % $ 708, Management $ 2,140, $ 4,639, $ 4,633, % $ 3,610, $ 3,456, % $ 3,316, Capital Projects GO $ $ 58,955, $ 62,650, % $ 10,311, $ 9,385, % $ 53,264, Capital Projects SAVE $ 9,282, $ 34,730, $ 44,411, % $ 35,807, $ 43,853, % $ 9,840, PPEL $ 449, $ 10,930, $ 10,741, % $ 9,498, $ 11,759, % $ (567,638.07) 40 Debt Service $ 307, $ 13,100, $ 15,022, % $ 11,931, $ 14,917, % $ 412, School Nutrition $ 1,067, $ 6,307, $ 6,737, % $ 6,751, $ 6,556, % $ 1,249, Health Self Ins. $ 14,489, $ $ 16,269, $ $ 14,525, $ 16,233, Dental Self Ins. $ 9, $ $ 896, $ $ 885, $ 20, School Children's Aid $ 5, $ 15, $ 21, % $ 26, $ 18, % $ 8, School Based Health Clinics $ 10, $ 151, $ 152, % $ 134, $ 111, % $ 52, Total $ 52,396, $ 294,109, $ 327,166, % $ 243,799, $ 273,878, % $ 105,684, Ending Cash Balance This report is intended to satisfy the requirements of Iowa Code Disbursements by Object Fd# Fund Budget FY18 YTD Salaries YTD Employee Benefits YTD Professional Services YTD Purchased Services YTD Other Purchased Services YTD Supplies YTD Equipment YTD Other Obj. & Other Uses Total % Spent 10 General Fund $ 162,219, $ 108,576, $ 30,980, $ 2,329, $ 987, $ 8,273, $ 7,119, $ 395, $ 6,450, $ 165,112, % 21 Student Activity $ 3,507, $ $ $ 143, $ 2, $ 500, $ 2,616, $ $ 32, $ 3,296, % 22 Management $ 3,610, $ $ 2,283, $ $ 23, $ 1,149, $ $ $ $ 3,456, % 31 Capital Projects GO $ 10,311, $ 36, $ 8, $ 123, $ 8,848, $ $ $ 295, $ 73, $ 9,385, % 33 Capital Projects SAVE $ 35,807, $ 521, $ 148, $ 363, $ 25,958, $ 45, $ 4, $ 6,156, $ 10,655, $ 43,853, % 36 PPEL $ 9,498, $ $ $ $ 9,857, $ $ $ 933, $ 968, $ 11,759, % 40 Debt Service $ 11,931, $ $ $ 5, $ $ $ $ $ 14,911, $ 14,917, % 61 School Nutrition $ 6,751, $ 2,262, $ 972, $ 9, $ 27, $ 18, $ 3,191, $ 74, $ $ 6,556, % 71 Health Self Ins. $ $ $ $ 14,006, $ $ 443, $ $ $ 74, $ 14,525, N/A 74 Dental Self Ins. $ $ $ $ 885, $ $ $ $ $ $ 885, N/A 82 School Children's Aid $ 26, $ $ $ $ $ $ 18, $ $ $ 18, % 84 School Based Health Clinics $ 134, $ 72, $ 22, $ $ $ 4, $ 9, $ 1, $ $ 111, % Total $ 243,799, $ 111,469, $ 34,416, $ 17,867, $ 45,705, $ 10,435, $ 12,959, $ 7,857, $ 33,166, $ 273,878, % 6

8 Iowa City CSD General Fund Quarterly Receipts Code Code # Description Budgeted % of Total Actual % Collected Budgeted % of Total Actual Percent Budget Collected of Budget Budget Collected Collected 1111 Property Tax $ 47,062, % $ 46,369, % $ 48,661, % $ 47,883, % 1112 Prop Tax Cash Reserve $ 12,000, % $ 11,821, % $ 12,500, % $ 12,304, % 1114 Instr. Support Prop Tax $ 422, % $ 415, % $ 625, % $ 617, % 1119 Business Property Tax Credit $ 0.00% $ 896, % $ 0.00% $ 914, % 1134 Instructional Support Income Surtax (A&L 10.25) $ 6,816, % $ 6,810, % $ 6,820, % $ 7,114, % 1171 Utility Excise Replacement Tax $ 753, % $ 734, % $ 697, % $ 700, % 1191 Mobile Home Tax $ 160, % $ 150, % $ 160, % $ 154, % 1311 Tuition School Year Individuals $ 5, % $ 22, % $ 5, % $ 6, % 1322 Tuition Special Education $ 500, % $ 430, % $ 500, % $ 477, % 1323 Open Enrollment LEA $ 554, % $ 500, % $ 852, % $ 861, % 1329 Tuition Board of Regents $ 110, % $ 139, % $ 0.00% $ % 1361 Summer School Tuition $ 5, % $ 22, % $ 5, % $ 1, % 1411 Transportation Fee $ 7, % $ 79, % $ 15, % $ 71, % 1510 Investment Interest $ 60, % $ 71, % $ 80, % $ 315, % 1740 Miscellaneous Fees Local Textbook / Reg. $ 457, % $ 465, % $ 446, % $ 416, % 1910 Rental $ 225, % $ 226, % $ 225, % $ 236, % 1920 Donations/Contributions $ 120, % $ 115, % $ 120, % $ 136, % 1951 Sale Serv. AEA/LEA $ 220, % $ 222, % $ 225, % $ 337, % 1960 Services Provided to Others $ 300, % $ 295, % $ 299, % $ 193, % 1991 Sale of Materials $ 225, % $ 260, % $ 225, % $ 716, % 1999 Misc. Revenue $ 0.00% $ 2, % $ 0.00% $ % SubTotal Local Receipts $ 70,003, % $ 70,055, % $ 72,462, % $ 73,460, % 3111 State Foundation Aid ( ) $ 57,197, % $ 58,454, % $ 58,282, % $ 57,922, % 3113 Spec Ed Deficit State additional contribution $ 75, % $ 0.00% $ 75, % $ 65, % 3117 State 4 Year Old Preschool (A&L 7.34) $ 1,272, % $ 1,144, % $ 1,316, % $ 1,316, % 3121 Foster Care $ 5, % $ 15, % $ 5, % $ 19, % 3123 District Court Placed $ 20, % $ 14, % $ 20, % $ 41, % 3202 Mentor/New Teacher $ 93, % $ 104, % $ 0.00% $ % 3204 Teacher Salary improve A&L 4.22 $ 7,461, % $ 6,715, % $ 7,718, % $ 7,718, % 3214 AEA Flow Through A&L 16.9 $ 5,906, % $ 5,906, % $ 6,162, % $ 6,162, % 3216 Early Intervention Reading A&L 4.38 $ 946, % $ 851, % $ 978, % $ 978, % 3221 Transportation Aid Non Public $ 193, % $ 208, % $ 193, % $ 168, % 3222 Non Public Textbooks $ 20, % $ 17, % $ 15, % $ 17, % 3228 Truancy Prevention Grant $ 60, % $ 75, % $ 60, % $ 45, % 3232 At Risk Pre School Hills $ 109, % $ 109, % $ 96, % $ 207, % 3234 Innovative At Risk (K3) $ 135, % $ 0.00% $ 0.00% $ 48, % 3238 At Risk Preschool Twain $ 122, % $ 122, % $ 107, % $ 3, % 3261 State Vocational Aid $ 0.00% $ 24, % $ 0.00% $ 5, % 3803 Commercial and Industrial Replacement $ 1,665, % $ 1,665, % $ 1,825, % $ 1,634, % 3313 Prevention Through Mentoring $ 30, % $ 0.00% $ 30, % $ 0.00% 7

9 Iowa City CSD General Fund Quarterly Receipts Code Code # Description Budgeted % of Total Actual % Collected Budgeted % of Total Actual Percent Budget Collected of Budget Budget Collected Collected 3342 Early Literacy (K3) $ 125, % $ 125, % $ 121, % $ 121, % 3335 STEM $ 2, % $ 0.00% $ 27, % $ 2, % 3339 Iowa Core Curriculum $ 0.00% $ % $ 0.00% $ % 3373 Prof Dev Core Curriculum A&L 4.30 portion $ 275, % $ 247, % $ 0.00% $ % 3376 Teacher Quality Prof Dev A&L 4.30 portion 70.18% $ 648, % $ 583, % $ 954, % $ 954, % 3116 Teacher Leadership Grant $ 4,370, % $ 3,933, % $ 4,519, % $ 4,519, % 3801 Military Credit $ 0.00% $ % $ 0.00% $ % SubTotal State Receipts $ 80,735, % $ 80,320, % $ 82,509, % $ 81,953, % 4101 Impact Aid $ 2, % $ 0.00% $ 2, % $ 0.00% 4329 Fed Drug Free School $ 0.00% $ % $ 0.00% $ % 4526 Career Leader Grant $ 0.00% $ % $ 0.00% $ % 4339 Carol White PE Program $ 0.00% $ 159, % $ 0.00% $ % 4501 Title 1 Current year $ 2,174, % $ 1,843, % $ 2,398, % $ 2,035, % 4508 Title 1 Carryover $ 303, % $ 246, % $ 298, % $ 300, % 4511 IDEA Grants $ 30, % $ 17, % $ 15, % $ 9, % 4531 Carl Perkins Fund $ 128, % $ 130, % $ 139, % $ 128, % 4557 Fresh Fruit and Veg. Grant $ 0.00% $ % $ 0.00% $ % 4643 EESA II Eisenhower (class size reduction) $ 309, % $ 312, % $ 398, % $ 278, % 4565 McKinney Homeless $ 36, % $ 36, % $ 36, % $ 39, % 4569 DHS Wrap Around Odd $ 21, % $ 39, % $ 21, % $ 39, % 4577 Comm Health Grants $ 0.00% $ 2, % $ 0.00% $ % 4591 Drug Free Schools $ 0.00% $ % $ 0.00% $ % 4634 Medicaid $ 2,400, % $ 3,152, % $ 2,200, % $ 2,628, % 4643 Title IIFed Teach Quality $ 0.00% $ % $ 0.00% $ % 4644 Title 3 Eng. Lang. Acquisition $ 90, % $ 133, % $ 33, % $ 91, % Century Grant $ 597, % $ 619, % $ 635, % $ 586, % 4648 Title VI Assessment / Testing $ 26, % $ 26, % $ 25, % $ 0.00% 4654 Advanced Placement $ 1, % $ 2, % $ 1, % $ 0.00% 4720 Part B Through an AEA $ 667, % $ 659, % $ 679, % $ 673, % 4795 ipirc Grant $ 0.00% $ % $ 0.00% $ % 4812 Fed Flood Control $ 3, % $ 5, % $ 3, % $ 2, % SubTotal Federal Receipts $ 6,790, % $ 7,387, % $ 6,886, % $ 6,813, % 5261 Interfund Transfers $ 0.00% $ % $ 0.00% $ % 5311 Comp. For Asset Loss / sale of assets $ 10, % $ 7, % $ 10, % $ 190, % 5314 Sale of Materials $ 5, % $ 6, % $ 5, % $ 7, % SubTotal Other Receipts $ 15, % $ 13, % $ 15, % $ 197, % Total Receipts $ 157,544, % $ 157,777, % $ 161,873, % $ 162,424, % 8

10 Iowa City CSD General Fund Quarterly Disbursements Code Code # Description Budgeted % of Total Actual % Expended Budgeted % of Total Actual % Expended Budget Expended of Budget Budget Expended of Budget Instruction: Regular Instruction $ 70,925, % $ 67,416, % $ 72,361, % $ 71,195, % Special Instruction $ 19,728, % $ 20,711, % $ 19,734, % $ 21,640, % AtRisk Instruction $ 13,092, % $ 12,880, % $ 13,953, % $ 14,608, % Vocational Instruction $ 1,385, % $ 1,523, % $ 1,377, % $ 1,634, % Cocurricular Instruction $ 1,692, % $ 1,870, % $ 1,947, % $ 2,268, % Student Support Services $ 4,311, % $ 4,568, % $ 4,941, % $ 5,260, % Instructional Support Services $ 9,846, % $ 9,927, % $ 10,819, % $ 10,903, % Administration: General $ 1,990, % $ 2,106, % $ 1,890, % $ 2,171, % Building $ 7,636, % $ 7,417, % $ 7,947, % $ 7,974, % Business $ 3,252, % $ 3,291, % $ 3,781, % $ 3,539, % Plant Operations & Maintenance $ 12,407, % $ 12,621, % $ 13,388, % $ 13,940, % Student Transportation $ 3,183, % $ 3,271, % $ 3,674, % $ 3,583, % Noninstructional Programs $ 37, % $ 23, % $ 40, % $ 28, % AEA Support $ 5,906, % $ 5,906, % $ 6,162, % $ 6,162, % Other $ 172, % $ 172, % $ 200, % $ 200, % Total Disbursements $ 155,569, % $ 153,708, % $ 162,219, % $ 165,112, % Code Code # Description Budgeted % of Total Actual % Expended Budgeted % of Total Actual % Expended Budget Expended of Budget Budget Expended of Budget 100 Wages and Salaries $ 99,941, % $ 101,604, % $ 104,509, % $ 108,576, % 200 Benefits (medical ins., IPERS, FICA, etc.) $ 30,022, % $ 27,987, % $ 31,408, % $ 30,980, % 300 Purchased Professional and Technical Services (legal, auditing, etc.) $ 2,214, % $ 2,316, % $ 2,067, % $ 2,329, % 400 Purchased Property Services (utilties, repairs, maintenance, etc.) $ 784, % $ 943, % $ 790, % $ 987, % 500 Other Purchased Services (printing, tuition, travel, etc.) $ 8,050, % $ 8,223, % $ 8,231, % $ 8,273, % 600 Supplies $ 8,196, % $ 6,157, % $ 8,580, % $ 7,119, % 700 Property i.e. equipment $ 246, % $ 327, % $ 225, % $ 395, % 800 Dues $ 23, % $ 69, % $ 42, % $ 88, % 900 Other Items $ 6,088, % $ 6,078, % $ 6,363, % $ 6,362, % Total Disbursements $ 155,569, % $ 153,708, % $ 162,219, % $ 165,112, % 9

11 A B C Q R S T U V W X Y Z AA AB AC IOWA CITY COMMUNITY SCHOOL DISTRICT Projected YTD General Fund Unspent Balance plus Future Periods State Supplemental Growth 2.25% 1.11% 1.00% 1.00% 1.50% 1.50% 1.50% A&L Actual Reestimated Projected Projected Projected Projected Projected REF 30Jun17 30Jun18 30Jun19 30Jun20 30Jun21 30Jun22 30Jun23 Regular Program District Cost 5.01 $ 90,339,290 $ 93,411,070 $ 95,804,730 $ 98,366,006 $ 101,410,137 $ 104,288,179 $ 107,312,216 Budget Guarantee 5.02 $ $ $ $ $ $ $ District Cost for Supplemental Weighting 5.03 $ 2,155,411 $ 2,546,256 $ 2,567,277 $ 2,600,817 $ 2,647,603 $ 2,694,177 $ 2,741,791 Special Ed District Cost 5.04 $ 9,373,712 $ 8,830,010 $ 9,195,027 $ 9,334,625 $ 9,521,493 $ 9,705,251 $ 9,894,326 Teacher Salary Supplement 5.05 $ 7,461,331 $ 7,718,822 $ 7,919,507 $ 8,135,006 $ 8,391,956 $ 8,634,782 $ 8,890,529 Professional Development Supplement 5.06 $ 923,900 $ 954,803 $ 978,776 $ 1,004,589 $ 1,035,067 $ 1,063,677 $ 1,093,904 Early Intervention Supplement 5.07 $ 946,184 $ 978,572 $ 1,003,763 $ 1,030,858 $ 1,062,923 $ 1,093,236 $ 1,125,227 Teacher Leadership Supplement 5.08 $ 4,370,956 $ 4,519,832 $ 4,635,484 $ 4,759,818 $ 4,907,330 $ 5,046,413 $ 5,193,032 AEA Special Ed Support 5.09 $ 4,357,615 $ 4,468,399 $ 4,588,994 $ 4,707,379 $ 4,848,788 $ 4,982,524 $ 5,123,140 AEA Media Services 5.11 $ 791,438 $ 815,892 $ 836,073 $ 857,660 $ 883,273 $ 907,632 $ 933,177 AEA Ed Services 5.12 $ 869,525 $ 896,404 $ 918,511 $ 942,316 $ 970,583 $ 997,286 $ 1,025,276 AEA Teacher Salary Supplement 5.14 $ 407,121 $ 417,932 $ 429,615 $ 440,759 $ 454,023 $ 466,462 $ 479,616 AEA Professional Development Supplement 5.15 $ 47,382 $ 48,664 $ 50,104 $ 51,361 $ 52,924 $ 54,391 $ 55,922 Drop Out 5.17 $ 4,417,848 $ 4,619,521 $ 4,742,675 $ 4,752,675 $ 4,762,675 $ 4,772,675 $ 4,782,675 AEA Prorata Statewide Reduction 5.16 $ (566,309) $ (485,100) $ (485,100) $ (485,100) $ (485,100) $ (485,100) $ (485,100) Enrollment Adjustment 5.18 $ (646) $ (1,454) $ $ $ $ $ Controlled Budget (Line 5.19) $ 125,894,758 $ 129,739,623 $ 133,185,436 $ 136,498,769 $ 140,463,675 $ 144,221,585 $ 148,165,731 State Preschool Foundation Aid 7.35 $ 1,272,063 $ 1,316,140 $ 1,672,654 $ 1,689,303 $ 1,714,650 $ 1,740,494 $ 1,766,587 Instructional Support Program $ 7,238,887 $ 7,452,335 $ 7,971,734 $ 7,858,461 $ 8,101,656 $ 8,331,583 $ 8,573,173 Subtotal Spending Authority from Aid & Levy $ 134,405,708 $ 138,508,098 $ 142,829,824 $ 146,046,533 $ 150,279,981 $ 154,293,662 $ 158,505,491 Miscellaneous Income $ 10,725,184 $ 11,849,120 $ 10,800,000 $ 10,800,000 $ 10,800,000 $ 10,800,000 $ 10,800,000 Unspent Balance BOY $ 9,857,410 $ 10,931,856 $ 9,686,712 $ 6,046,644 $ 3,295,637 $ 2,313,379 $ 3,732,911 Special Ed Deficit EOY $ 5,905,705 $ 6,885,000 $ 7,000,000 $ 7,000,000 $ 7,000,000 $ 7,000,000 $ 7,000,000 SBRC Allocation Advanced Funding $ 2,272,095 $ 1,442,428 $ 1,500,000 $ 1,500,000 $ 1,583,252 $ 1,692,816 $ 1,147,876 SBRC Allocation English as Second Lang $ 1,201,884 $ 1,782,205 $ 1,544,215 $ 1,498,709 $ 1,200,000 $ 1,200,000 $ 1,200,000 SBRC Allocation Open Enrolled Out $ $ $ $ $ $ $ SBRC Application Environmental Hazards $ 346,478 $ 328,846 $ 900,000 $ 300,000 $ 300,000 $ 300,000 $ 300,000 SBRC Application First Year Staffing Costs $ $ 3,071,580 $ $ 544,832 $ $ $ Total Budget Authority $ 164,714,464 $ 174,799,133 $ 174,260,751 $ 173,736,718 $ 174,458,870 $ 177,599,857 $ 182,686,278 Expenditures: Estimated Budgeted General Operating Fund $ (153,782,608) $ (165,112,421) $ (167,589,107) $ (169,896,248) $ (172,145,491) $ (173,866,946) $ (176,474,950) Facility Master Plan staffing and program costs $ $ $ (544,832) $ $ $ Facility Master Plan supplies $ $ $ (125,000) IPERS Rate increase $ $ (500,000) Utilities & Categorical Funded program increases $ $ Staffing adjustments for instructional programs $ $ $ Extra transportation costs $ $ Curriculum cycle added costs $ $ $ $ $ Expenditure Growth Assumption Rate 2.70% 1.50% 1.00% 1.00% 1.00% 1.50% Total Anticipated General Fund Expenditures $ (153,782,608) $ (165,112,421) $ (168,214,107) $ (170,441,080) $ (172,145,491) $ (173,866,946) $ (176,474,950) The Amount Reveune Exceeds the Breakeven Point $ 1,074,446 $ (1,245,144) $ (3,640,068) $ (2,751,006) $ (982,258) $ 1,419,532 $ 2,478,417 Projected Year End Unspent Balance $10,931,856 $9,686,712 $6,046,644 $3,295,637 $2,313,379 $3,732,911 $6,211,328 Projected Year End Unspent Balance Ratio 6.6% 5.5% 3.5% 1.9% 1.3% 2.1% 3.4% 10

12 FY2018 Iowa City Community School District Budget Facts t Quarterly Investments Table by Fund Fund Cash in Certificates of TELF / ISJIT Total Weighted Type Bank Deposit Money Market Funds Portion General (10, 84) $ 5,792,652 $ $ 29,892,687 $ 35,685, % Activity (21) $ 734,940 $ $ $ 734, % Management (22) $ $ $ 3,307,206 $ 3,307, % GO Bonds (31) $ 4,642,779 $ 48,621,774 $ $ 53,264, % Capital Projects (33) $ 2,538,264 $ 9,108,756 $ 1,366,073 $ 13,013, % PPEL (36) $ $ $ 566,687 $ 566, % Debt Service (40) $ 262,042 $ $ 140,599 $ 402, % Nutrition (61) $ 370,749 $ 820,812 $ 706,353 $ 1,897, % Med/Den. Ins. (71, 74) $ 7,548,084 $ 10,906,950 $ 5,694 $ 18,460, % Children's Aid (82) $ 8,024 $ $ $ 8, % Total All Funds $ 21,897,534 $ 69,458,292 $ 35,985,299 $ 127,341, % t t t t t General Budget Facts: 1. Student Certified Enrollment on 10/2/2017 = 14, Supplemental State Aid for FY2018 budget (Allowable Growth) = 1.11% 3. Supplemental State Aid for FY2019 budget (Allowable Growth) = 1.00% Facility Facts: 1. ICCSD has a total insured property value of $453M covering 21 elementary buildings, 3 junior high schools, 4 high schools, Transitions, TREC, and 2 support buildings. 2. Average utilities cost per square foot secondary buildings = $1.03 (FY2017) 3. Average utilities costs per square foot Elementary buildings = $1.29 (FY2017) 4. Projected staffing cost to open an new elementary building = $544,832 (2016 dollars) Staff: 1. Annual Average Combined Sick Leave per Staff Member = 7.6 Days (FY2018) 2. Full Day Teacher Substitute Rate = $ Employee FTE's as of October 2, 2017: Administrators = Maintenance/Custodial = Teachers = Technology/Supervisory = Secretaries = Paraeducators = Food Service = Pupil / Teacher Ratio) State * FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 * State Median FY2018 For FY2018 ICCSD Ranks 64 of 333 districts for pupil / teacher ratio Future Budget Considerations for District General/Operating Fund: 1. Opening Grant Elementary School in FY19 and Liberty High addition in FY20 2. Lincoln, Mann and Longfellow Elementary transitional operating costs in FY18 and FY19 3. Transportation changes from Liberty High School and Kirkwood/Alexander support 4. Redistricting/attendance zone changes and the effect on transportation 11

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