Approved by the District Governing Board June 9, Approved BUDGET

Transcription

1 Approved by the District Governing Board June 9, 2014 Approved BUDGET

2 June 9, 2014 TABLE OF CONTENTS Budget Calendar.... Summary of Budget Data Schedule A District Levy Assumption Resources Schedule B.... Expenditures and Other Outflows Schedule C Estimated 2013 Levy Limit Worksheet Schedule D Annual Budgeted Expenditure Limitation Report Schedule E

3 BUDGET CALENDAR LEGAL ACTIVITY REQUIREMENT CALENDAR District Governing Board Reviews and Approves Preliminary Budget None May 20 First Budget Publication June 5 May 26 Second Budget Publication June 15 June 2 Budget Public Hearing and Adoption by District Governing Board June 20 June 9 2

4 SUMMARY OF BUDGET DATA I. CURRENT GENERAL AND PLANT FUNDS Increase/Decrease From Budget 2014 To Budget 2015 Budget Budget Amount % A. Expenditures: Current General Fund $ 40,705,055 $ 39,905,502 $ 799, % Unexpended Plant Fund 6,654,000 6,748,399 (94,399) -1.4% Retirement of Indebtedness Plant Fund 5,130,676 5,081,409 49, % TOTAL $ 52,489,731 $ 51,735,310 $ 754, % B. Expenditures Per Full-Time Student Equivalent (FTSE): Current General Fund $ 7,207 /FTSE $ 6,964 /FTSE $ 243 /FTSE 3.5% Unexpended Plant Fund $ 1,178 /FTSE $ 1,178 /FTSE $ 0 /FTSE 0.0% Projected FTSE Count 5,648 5,730 II. TOTAL ALL FUNDS ESTIMATED PERSONNEL COMPENSATION Employee Salaries and Hourly Costs $ 24,911,143 $ 23,975,742 $ 935, % Retirement Costs 2,037,230 1,955,877 81, % Healthcare Costs 2,332,256 2,220, , % Other Benefit Costs 2,815,107 2,775,361 39, % TOTAL $ 32,095,736 $ 30,927,800 $ 1,167, % III. SUMMARY OF PRIMARY AND SECONDARY PROPERTY TAX LEVIES AND RATES A. Amount Levied: Primary Tax Levy $ 26,370,515 $ 25,046,722 $ 1,323, % Secondary Tax Levy 5,130,676 5,081,409 49, % TOTAL LEVY $ 31,501,191 $ 30,128,131 $ 1,373, % B. Rates Per $100 Net Assessed Valuation: Primary Tax Rate % Secondary Tax Rate % TOTAL RATE % IV. MAXIMUM ALLOWABLE PRIMARY PROPERTY TAX LEVY FOR FISCAL YEAR 2015 PURSUANT TO A.R.S $ 27,228,703 V. AMOUNT RECEIVED FROM PRIMARY PROPERTY TAXES IN FISCAL YEAR 2014 IN EXCESS OF THE MAXIMUM ALLOWABLE AMOUNT AS CALCULATED PURSUANT TO A.R.S $ - SCHEDULE A 3

5 DISTRICT LEVY ASSUMPTION Primary District levy is estimated to be $26,370, Primary assessed valuation is estimated to be $1,318,262, Secondary assessed valuation is estimated to be $1,350,318,738. Proposed budget levy qualification: Arizona Western College is in compliance with primary tax levy limitations for based upon 2014 assessed value estimates contained in the 2014 Levy Limit Worksheet dated 03/18/

6 RESOURCES General Fund CURRENT FUNDS Restricted Fund Auxiliary Fund PLANT FUNDS Unexpended Retirement of Plant Fund Indebtedness BEGINNING BALANCES-July 1* Restricted $ $ 68,493 $ $ $ 3,701,974 $ $ 3,770,467 $ 5,686, % Unrestricted 15,316,809 7,564,468 5,268, ,328 28,341,156 28,515, % Total Beginning Balances $ 15,316,809 $ 68,493 $ 7,564,468 $ 5,268,551 $ 3,701,974 $ 191,328 $ 32,111,623 $ 34,201, % REVENUES AND OTHER INFLOWS Student Tuition and Fees General Tuition $ 9,809,620 $ $ $ $ $ $ 9,809,620 $ 9,652, % Out-of-District Tuition Out-of-State Tuition 752, , , % Student Fees 3,100,820 3,100,820 3,067, % Tuition and Fee Remissions or Waivers State Appropriations Maintenance Support 2,726,600 2,726,600 2,754, % Equalization Aid Capital Support 882, , Property Taxes Primary Tax Levy 26,370,515 26,370,515 25,046, % Secondary Tax Levy 5,130,676 5,130,676 5,081, % Gifts, Grants, and Contracts 19,300,000 19,300,000 19,600, % Sales and Services 2,470,000 2,470,000 2,448, % Investment Income 100,000 8, , , % State Shared Sales Tax 700, , , % Other Revenues 965, ,000 1,705,000 1,656, % Proceeds from Sale of Bonds Total Revenues and Other Inflows $ 40,723,735 $ 20,882,500 $ 6,318,820 $ $ 5,130,676 $ $ 73,055,731 $ 70,599, % TRANSFERS Transfers In 1,422,500 1,422, , % (Transfers Out) (695,000) 8,450 (686,550) (895,550) -23.3% Total Transfers (695,000) 8,450 1,422, ,950 (145,550) % Less: Financial Stability (14,640,489) (7,309,978) (37,051) (21,987,518) (20,757,479) 5.9% Grants/Scholarships (68,493) (89,734) (158,227) (1,782,089) -91.1% Debt Service (3,701,974) (3,701,974) (3,973,988) -6.8% Other Miscellaneous (101,594) (101,594) (106,695) -4.8% Other Funds Total All Funds Total All Funds 2014 % Increase/ Decrease Total Resources Available for the Budget Year $ 40,705,055 $ 20,882,500 $ 6,581,760 $ 6,654,000 $ 5,130,676 $ $ 79,953,991 $ 78,034, % *These amounts exclude amounts not in spendable form (i.e., prepaids, inventories, and capital assets) or amounts legally or contractually required to be maintained intact SCHEDULE B 5

7 EXPENDITURES AND OTHER OUTFLOWS TOTAL RESOURCES AVAILABLE FOR THE BUDGET YEAR (from Schedule B) CURRENT FUNDS PLANT FUNDS General Restricted Auxiliary Unexpended Retirement of Other Total Total Fund Fund Fund Plant Fund Indebtedness Funds All Funds All Funds % Increase/ Decrease $ 40,705,055 $ 20,882,500 $ 6,581,760 $ 6,654,000 $ 5,130,676 $ $ 79,953,991 $ 78,034, % EXPENDITURES AND OTHER OUTFLOWS Instruction $ 17,957,636 $ 3,882,500 $ 89,755 $ $ $ $ 21,929,891 $ 20,311, % Public Service 588, , ,114 1,020, , % Academic Support 3,027,454 90,000 11, ,000 3,728,914 3,976, % Student Services 4,352, , ,193 31,500 6,150,276 5,122, % Institutional Support (Administration) 7,665, , , ,501 8,629,090 7,866, % Operation and Maintenance of Plant 5,411, , , ,438 6,379,944 5,476, % Scholarships 15,460,000 1,577,346 17,037,346 16,751, % Auxiliary Enterprises 2,644,563 2,644,563 3,168, % Capital Assets 5,233,561 5,233,561 5,733, % Debt Service-General Obligation Bonds 5,130,676 5,130,676 5,081, % Debt Service-Other Long Term Debt Other Expenditures 1,595, % Contingency 1,701, , ,000 2,068,928 2,068,928 Total Expenditures and Other Outflows $ 40,705,055 $ 20,882,500 $ 6,581,760 $ 6,654,000 $ 5,130,676 $ $ 79,953,991 $ 78,034, % SCHEDULE C 6

8 2014 LEVY LIMIT WORKSHEET COUNTY OF: YUMA/LA PAZ COUNTIES TAX AUTHORITY: ARIZONA WESTERN (3/18/2014) 2014 NEW CONSTRUCTION= $56,673,873 SECTION A MAXIMUM LEVY LIMIT A Maximum Allowable Primary Tax Levy $25,547,750 (Amount on Line D.5 from 2013 Worksheet) A.2 Line A.1 Multiplied by l.02 Equals $26,058,705 SECTION B NET ASSESSED VALUE OF ALL PROPERTY SUBJECT TO TAXATION IN 2013 B.l Centrally Assessed $165,302,832 B.2 Locally Assessed Real $1,028,270,163 B.3 Locally Assessed Personal Property $68,015,209 B.4 Total of B.1 through B.3 Equals $1,261,588,204 B.5 B.4 Divided by 100 Equals $12,615,882 SECTION C NET ASSESSED VALUES C.1 Centrally Assessed $213,366,845 C.2 Locally Assessed Real $1,036,439,583 C.3 Locally Assessed Personal Property $68,455,649 C.4 Total of C.1 through C.3 Equals $1,318,262,077 C.5 C.4 Divided by 100 Equals $13,182,621 SECTION D LEVY LIMIT CALCULATION D.1 Enter Line A.2 $26,058,705 D.2 Enter Line B.5 $12,615,882 D.3 Divide D.1 by D.2 And Enter Result $ D.4 Enter Line C.5 $13,182,621 D.5 Multiply D.4 By D.3 And Enter Result $27,228,703 LINE D.5 EQUALS 2014 MAXIMUM ALLOWABLE LEVY LIMIT D.6 Enter Excess Property Taxes Collectible Pursuant To ARS , Section B - D.7 Enter Amount In Excess Of Expenditure Limitation Pursuant To ARS , Section C D.8 Line D.5 minus Line D.6 And D.7 Equals 2014 Allowable Levy $27,228,703 Schedule D 7

9 Current Funds Plant Funds Unrestricted Description Auxiliary Retirement of General Enterprises Restricted Unexpended Indebtedness Total A. Total budgeted expenditures $ 40,705,055 $ 6,581,760 $ 20,882,500 $ 6,654,000 $ 5,130,676 $ 79,953,991 B. Less exclusions claimed: Bond proceeds $ $ $ $ $ $ Debt service requirements on bonded indebtedness (5,130,676) (5,130,676) Proceeds from other long-term obligations Debt service requirements on other long-term obligations Dividends, interest, and gains on the sale or redemption of investment securities (100,000) (8,000) (108,000) Trustee or custodian Grants and aid from the federal government (19,700,000) (19,700,000) Grants, aid, contributions, or gifts from a private agency, organization, or individual, except amounts received in lieu of taxes (300,000) (300,000) Amounts received from the state for the purchase of land, and the purchase or construction of buildings or improvements (882,500) (882,500) Interfund transactions Amounts accumulated for the purchase of land, and the purchase or construction of buildings or improvements (6,654,000) (6,654,000) Contracts with other political subdivisions Tuition and fees (10,561,620) (3,100,820) (13,662,440) Property taxes received from voter-approved overrides Refunds, reimbursements, and other recoveries Prior years carryforward Total exclusions claimed $ (10,661,620) $ (3,108,820) $ (20,882,500) $ (6,654,000) $ (5,130,676) $ (46,437,616) C. Amounts subject to the expenditure limitation (If an individual fund type amount is negative, reduce exclusions claimed to net to zero.) $ 30,043,435 $ 3,472,940 $ $ $ (0) $ 33,516,375 D. Less expenditures of monies received pursuant to A.R.S (workforce development) E. Adjusted amount subject to the expenditure limitation $ 33,516,375 F. Expenditure Limitation for Fiscal Year 2015 $ 51,887,392 Amount (over) under limitation YUMA/LA PAZ COUNTY COMMUNITY COLLEGE DISTRICT ANNUAL BUDGETED EXPENDITURE LIMITATION REPORT BUDGET WORKSHEET $ 18,371,017 Schedule E 8