Iowa City Community School District Certified Budget

Transcription

1 Iowa City Community School District Certified Budget Prepared by Dr. Craig Hansel, CFO / Board Secretary

2 Iowa City Community School District s Mission Statement: The mission of the Iowa City Community School District is to ensure all students will become responsible, independent learners capable of making informed decisions in a democratic society as well as in the dynamic global community; this is accomplished by challenging each student with a rigorous and creative curriculum taught by a diverse, professional, caring staff and enriched through the resources and the efforts of families and the entire community. District Belief Statements 1. Each person has intrinsic worth. 2. Working collaboratively with others promotes achievement and growth. 3. A democratic society depends upon the active participation of educated citizens. 4. Free exchange of ideas is essential to education and learning in our democratic society. 5. Self-esteem enhances personal motivation and achievement. 6. All people can learn. 7. Individuals learn in different ways. 8. Life-long learning improves the quality of an individual s life. 9. The entire community is responsible for education; the individual is ultimately responsible for learning. 10. Challenge is vital to achieving potential. 11. Expectations are directly related to performance. 12. The understanding of and respect for human diversity are fundamental to individual rights and enrich community life. 13. A supportive environment promotes risk-taking; risk is a part of growth. 14. Creative expression enhances people s lives. 15. The survival of our civilization depends upon a citizen s possession of a shared core of knowledge. 16. Each person has a right to be in a safe environment.

3 Student Learning Goals Fluent and Effective Communicators who listen, view, read and respond to other s messages and ideas as well as demonstrate the ability to communicate in reading, writing, speaking, listening, and who communicate mathematically, scientifically and artistically. Collaborative Individuals who use skillful leadership and responsible social and group skills to develop and manage interpersonal relationships within culturally and organizationally diverse settings. Critical Thinkers who understand and apply a core body of knowledge and skills to new tasks, who identify problems, use strategies to approach problems and apply mathematical, logical and creative reasoning to solve problems and make appropriate decisions. Technological Practitioners who use advanced technologies, including but not limited to the computer, to create access, integrate and use information to communicate, reason, make decisions and solve complex problems in a variety of contexts. Resourceful Learners who create a positive vision for themselves and the future, view themselves as lifelong learners, set priorities and achievable goals, create options for themselves, monitor and evaluate their progress and assume responsibility for their actions. Quality Producers who create and appreciate intellectual, artistic, practical and physical products which reflect originality, high standards, and the use of advanced technology. Responsible Citizens who demonstrate the knowledge, skills and motivation necessary to participate in the democratic process and to make wise decisions which reflect healthful living, interdependence and ethical behavior that contribute to society.

4 Iowa City Board of Education LaTasha DeLoach, Vice President Term Expires: 2019 Phil Hemingway Term Expires: 2019 Brian Kirschling Term Expires: 2017 Chris Liebig Term Expires: 2017 Chris Lynch, President Term Expires: 2017 Lori Roetlin Term Expires: 2019 Paul Roesler Term Expires: 2019 Iowa City Community School District Administration Stephen Murley, Superintendent of Schools Matt Degner, Assistant Superintendent of Schools Amy Kortemeyer, Assistant Superintendent of Schools Dr. Craig Hansel, CFO/Board Secretary Jane Fry, Assistant Superintendent of Human Resources

5 Index Key Points Executive Summary... 1 Budget Key Points... 2 District Major Funds Summary... 4 Assumptions... 7 FY2017/18 Preliminary Budget Assumptions... 8 Certified Budget /18 Proposed Budget Summary /18 Adoption of Budget and Taxes FY2018 Budget Year Worksheet-Page FY2018 Budget Year Worksheet-Page /18 Certified Budget Resources by Fund /18 Certified Budget Expenditures by Fund Balanced Budget History Taxation Impact School District Levy Analysis Levy Detail 2.45% state percent of growth Estimated FY2017 Tax Rate 2.45% Total Tax Rate History School Tax Rate History Comparison of School Tax Rate as a % of Total Tax Bill Taxes Payable in Fiscal Year Taxation Rate Comparison UEN Tax Rate Comparison Debt Schedules for Taxation Debt Services Tax Rate History Long Term Debt Schedule Comparative Ratio of G.O. Bond Debt to Assessed Value G.O. Debt Service Schedule PPEL Debt Service Schedule SAVE Debt Service Schedule Cash Reserve Levy Cash Reserve Levy Enrollment Enrollment History Certified Enrollment History Open Enrollment Funding Loss Property Valuations Comparison of % Growth in Regular Program vs. Growth in Assessed Value Comparison of % Growth in Total Assessed Value- Running Average Comparison of % Growth in Total Assessed Value- TIF as % of Total Revenue Projections History of Allowable Growth State per Pupil Cost Allowable Growth Projections Budget Year FY

6 Index General Fund Revenue Operating Fund Estimated Budget Maximum for FY School Aid Formula Aid & Levy FY2018 Aid and Levy Worksheet Special Education Level I Students Level II Students Level III Students Total Special Education Program Revenue/Expenditure History Historical Comparison Revenue Calculations by Program Level Presentation Budget Presentation... 74

7 Key Points Executive Summary 1

8 Budget Key Points Iowa City Community Schools Certified Budget FY2018 Iowa City s October 2016 certified student enrollment of 13,981.6 is students more than last year and is fourth largest enrollment increase in the state behind Waukee s 579, Ankeny s 400.2, and Des Moines student growth. The Facility Master Plan originally approved in December 2013, revised in April 2015, and again in January 2017 will allow the District to accommodate projected student growth for many years. For FY2017, 82 students from other districts were educated in ICCSD while 439 students left the District. This net difference of 357 students cost the District $2,353,646 in tuition out payments. Since the inception of the Open Enrollment legislation, the District has paid out $17.8 million more than has been taken in. Special Education student population, as a percent of the total student population is 8.40% for the budget year. This is the fifth consecutive year that special education student as a percentage of total student population has declined. The 10-year percentage of student population average is 11.61%. The ICCSD tuition cost per student for FY2017 budget is $6,608. The Iowa Legislature set state percent of growth for the budget year at 1.11% (this amount is used for all computations in this report), the District s regular program budget growth for FY % giving an estimated cost per pupil of $6,681. The reason the budget growth rate is higher for the District than the state SSA growth rate is how the school aid formula factors in the District s certified student enrollment increase of Budget year assessed property valuation growth increased by 4.2%. The District s running property growth average since 2004 is 4.62%. The total assessed valuation including TIF equals $6,229,388,162. ICCSD s assessed valuation of $407,059 per pupil is higher than the state average of $330,000 per pupil. The composition of this assessed valuation includes 66.6% residential, 22.6% commercial, and 10.8% other. The budget year Tax Increment Financing Districts (TIF) valuation represents 8.64% of the District s total assessed valuation. The prior year TIF also represented 8.64% of the total. The composition of ICCSD s budget year cost per pupil of $6,681 per the state school aid formula includes: $2,198 from the uniform levy, $3,648 from state foundation aid, and $750 from the additional levy, and $85 from the property tax replacement state aid. The budget year proposed tax rate is $13.98, which is $0.01 lower than the current year tax rate of $ This rate is a composite of four unique funds within the school budget of which 70% of the total rate is controlled by the school aid formula and community voters, with only 30% of the total levy under board discretion. Iowa City Schools is the fifth largest District in the state of Iowa. The FY2016 $13.87 tax rate places the District at number 162 of 333 school districts in the state for rate rank. Ballard CSD is highest at $22.05 and Okoboji CSD is lowest at $7.62. The average school rate in the state for FY2017 is $ Projected total revenue for the budget year 2018 is $161,801,139 (including AEA flow through). The projected mix is $73,422,529 or 45.4% from local sources, $82,179,610 or 50.8% from state sources, and $6,249,000 or 3.8% from federal sources. 2

9 The FY2017 debt rate of $0.55 placed ICCSD 160 in the state of 167 school districts for General Obligation bond debt. $4.05 is the statutory maximum limit on debt for Iowa schools. FY2018 is the final year to levy the debt service tax for the 2012 refinanced bonds. This debt service fund tax rate is projected to decrease by $0.02 for the budget year. The proposed FY2018 budget levy of $13.98 per $1,000 taxable valuation is anticipated to increase taxes for a residential homeowner by $45 per year for a house with a 100% taxable value of $250,000. The final taxable value is impacted by both a rollback and homestead credit adjustments at the state level on residential property. A commercial property owner with business property with a 100% taxable value of $500,000 would see taxes decrease by $3 per year. The total tax bill for ICCSD residents and businesses for the FY2017 tax year includes: Johnson County ($6.77), Ag Extension ($0.08), County Assessor ($0.24), State of Iowa ($0.003), Kirkwood ($1.08), City of Iowa City ($16.58), and ICCSD ($13.99). The FY2017 ICCSD rate of $13.99 tax rate represents 36.1% of the total tax bill of $ Looking back 30 years the District percentage of the total tax bill supported by the community patrons represented 42.0%. A proposed budget year $0.04 increase in the Management fund levy represents an increased financial obligation from anticipated early retirement benefits and increases for property and liability insurance coverage. The District s dropout prevention program funding is increasing by $201,673 but the tax rate remains relatively the same for the budget year. The District can legally request $12,553,126 in cash reserve for the FY2018 budget. The District is requesting $12,500,000, which is slightly below this limit. The District s cash position did improve this past budget year but this increase is necessary for opening Liberty High school. The cash reserve tax rate is projected to remain the same for the budget year even though the request is increasing. Cash reserve is used to offset reductions in: state aid withheld from the District or to accommodate SBRC supplemental growth decisions for Juvenile Home, environmental hazards mitigation, delinquent property taxes, Special Education, English as a Second Language, opening new buildings, and student growth not reflected in the FY2017 school aid formula. The District s Financial Solvency Ratio was a positive 11.45% at the end of FY2016 which is higher than the FY2015 when this ratio was 9.34%. The suggested target range for this ratio is 10% - 15%. The District s ability to cash flow normal operations is computed to be 84 days, 90 days is the recommended minimum target. Maintaining this levy at adequate levels in future budget cycles will be important to maintain the proper position within these financial targets. Moody s bond rating for the District (12/10/14 report) remains at the highest Aaa rating available to Iowa schools. Maintaining these projected levels of fund balances will improve the District s ability to retain this important debt rating for future years. The proposed FY2018 budget contains property tax totals of $80,817,205, an increase of $3,223,055 over the FY2017 budget. 3

10 District Major Funds Summary Introduction: The Certified Budget of the District serves two purposes: 1. Establishes a maximum tax rate or ceiling. 2. Establishes an estimate for budget year expenditures. Process: The Fiscal 2018 Certified Budget Process has seven steps: 1. Introduce budget assumptions to the BoE January 24, Budget assumptions and preliminary certified budget update report to the BoE February 28, Superintendent s recommendation and establishment of proposed budget March 28, Publish tax rates and expenditure estimates in the Press Citizen March 30, Hold a public hearing on the proposed budget April 11, The Board s adoption of the certified budget April 11, File the budget with the Iowa Department of Management on or before April 15, District Funds: The District s Budget consists of: 1. General Fund 2. Special Revenue / Proprietary / Enterprise Funds: a. Management Fund b. Physical Plant and Equipment Fund c. Student Activity Fund d. Capital Projects Fund e. Debt Service Fund f. Nutrition Services Fund g. Other Trust Funds General Fund: This is the largest Fund of the District. The General Fund s primarily use is to provide the education program for the school District. The major revenue source is the School Aid Formula. For budget year 2018, approximately $73,422,529 or 45.4% of revenues come from local sources (property taxes), $82,179,610 or 50.8% come from state sources (state aid), and $6,249,000 or 3.8% from federal sources. The expenditure amount and tax rate for this fund is determined by the state school aid formula (aid and levy work sheet). Expenditures are determined by taking the student enrollment of the prior October budget year and multiplying it times the state district cost per pupil. General Fund expenditures for salaries and benefits represent an average of 84% of all expenditures. Salaries are negotiated through the required collective bargaining process or on a more informal meet and confer basis. The remaining 14% of General Fund expenditures are in the form of textbooks, supplies, materials, equipment, utilities, maintenance, transportation, repairs, and AEA Flow through. a. FY2017 budget amount $163,405,162 Levy rate $ b. FY2018 proposed budget $161,801,139 Levy rate $ At Risk Dropout Prevention: As a part of the foundation formula, supplemental weighting and allowable growth is provided to serve students outside of the regular classroom instruction who have been identified as higher risk of dropout. a. FY2017 budget amount $4,417,848 Levy rate $ b. FY2018 proposed budget $4,619,521 Levy rate $

11 2. Instructional Support: This levy was renewed to begin July 1, 2015 and is scheduled to end June 30, This Board approved five-year levy is used for textbooks, technology, fine arts, student programs, and staff development. The ISL is no longer funded by State Aid having been removed from legislative funded support in a. FY2017 budget amount $422,599 Levy rate $ b. FY2018 proposed budget $631,377 Levy rate $ Cash Reserve Levy: The cash reserve has two purposes. First, like any business, a school district needs sufficient working capital or cash in reserve. The District starts each fiscal year on July 1, but does not receive any state aid until September 15. The first half property taxes are not received until October. Normally a district needs cash on hand to cover three months of operating expenditures. The second purpose of the cash reserve levy is to fund unspent balance, special education deficit spending, advanced for increase enrollment, and other SBRC decisions. Even though school boards are their own best monitors when it comes to cash reserve, the law does provide a check on the cash reserve levy. Annually, the SBRC reviews each school district s cash reserve levy to make sure they do not have cash balances in excess of 20% of the previous years General Fund expenditures. a. FY2017 budget amount $12,000,000 Levy rate $ b. FY2018 proposed budget $12,500,000 Levy rate $ Management Fund: The Management Fund is used to pay for property insurance, deductible claims on property, early retirement, and unemployment claims. a. FY2017 budget amount $4,082,152 Levy rate $ b. FY2018 proposed budget $4,500,000 Levy rate $ Insurance: The levy funds a portion of the District s property, and liability insurance costs. These costs are all property tax and a function of the costs of the insurance policies. a. FY2017 budget amount $1,904,680 Levy rate $ b. FY2018 proposed budget $2,000,000 Levy rate $ Other Costs: This levy is used to cover the potential costs of unemployment claims, tort liability actions outside of policy coverage, and equipment breakdown deductible costs not covered by the insurance policy. a. FY2017 budget amount $82,152 Levy rate $ b. FY2018 proposed budget $700,000 Levy rate $ Early Retirement: This levy allows the District to provide for the cost of early retirement. This benefit is a property tax levy and the total cost is a function of the number of employees retiring, which is Board discretion. a. FY2017 budget amount $2,095,320 Levy rate $ b. FY2018 proposed budget $1,800,000 Levy rate $ Physical Plant and Equipment Fund: This levy is for capital improvements to schools and sites and the purchase of property. This levy consists of a $1.34 voter approved 10-year levy and $0.33 Board approved levy approved annually. The 10-year voter approved expanded PPEL levy was reauthorized September 10, 2013 and is scheduled to sunset June 30, a. FY2017 budget amount $9,984,079 Levy rate $ b. FY2018 proposed budget $10,403,078 Levy rate $

12 Activity Fund: The Student Activity Fund is a special revenue fund used to account for money received from student-related activities such as admissions, activity fees, student dues, student fund-raising events, or other student-related co-curricular or extracurricular activities. a. FY2017 budget amount $3,530,764 Levy rate $ b. FY2018 proposed budget $3,406,000 Levy rate $ Capital Projects Fund: These funds are established when the District issues bonds or short term debt financing and the Local Option School Sales Tax (SILO) for capital projects such as building new facilities or buying capital equipment. In 2007 the County passed the SILO revenue purpose statement (RPS) to renovate and construct new buildings. A part of that sales tax was to be set aside to construct new elementary buildings and a new high school. In February 2013 the ICCSD patrons passed a new revenue purpose statement to allow the district access to the expended state wide sales tax program called Secure an Advanced Vision for Education. (SAVE). Under current legislation this 1 cent sales tax is scheduled to sunset in Plans provided to the community at the time of the passage of this new RPS provided a broad overview to renovate current buildings, build up to three new elementary buildings, provide for some additions to existing buildings and construction of a new high school. a. FY2017 budget amount $30,173,820 Levy rate $ b. FY2018 proposed budget $34,730,000 Levy rate $ Debt Service Fund: This levy is for the retirement of bond issues. This levy is a property tax and a function of the prior year general obligation bonds sold. (See Debt Bond Retirement Schedules in Certified Budget Detail.) It should be noted that FY2018 total dollar amount includes principal and interest payments transferred from both PPEL and SAVE into the debt service fund with no property tax implications. a. FY2017 budget amount $3,289,200 Levy rate $ b. FY2018 proposed budget $3,293,350 Levy rate $ School Nutrition Fund: The School Nutrition Fund is a proprietary enterprise fund used to account for all transactions for the nutrition program authorized under Chapter 283A, Code of Iowa. The program served 1,348,614 lunches and 320,001 breakfasts during the school year. a. FY2017 budget amount $6,047,000 Levy rate $ b. FY2018 proposed budget $6,307,000 Levy rate $ Other Trust Funds: The Other Funds are not in use at this time. a. FY2017 budget amount $0.00 Levy rate $ b. FY2018 proposed budget $0.00 Levy rate $ Summary Conclusion: The total of all District Budgeted funds: a. FY2017 budget amount $204,889,364 Levy rate $ b. FY2018 proposed budget $233,839,575 Levy rate $

13 Assumptions 7

14 The Iowa City Community School District is committed to focusing available resources in support of our mission; Child - Centered: Future Focused. To help guide our budgeting process the following assumption discussion is presented. Introduction: The Certified Budget of the District serves two purposes: 1. Establishes a maximum tax rate or ceiling. 2. Establishes an estimate for budget year expenditures. Process: The Fiscal 2018 Certified Budget Process has seven steps: 1. Introduce budget assumptions to the BoE January 24, Budget assumptions and preliminary certified budget update report to the BoE February 28, Superintendent s recommendation and establishment of proposed budget March 28, Publish tax rates and expenditure estimates in the Press Citizen March 30, Hold a public hearing on the proposed budget April 11, The Board s adoption of the certified budget April 11, File the budget with the Iowa Department of Management on or before April 15, District Wide Budget All Funds Local Property Taxes Assumption 1: The Board will be mindful of the property tax rate and the amount of tax support being asked from our community patrons to support our District programming. The levy rate increased 12 cents between FY2016 at $13.87 / $1,000 assessed valuation and FY2017 at $13.99 / $1,000 assessed valuation. Statewide, the highest district rate for FY2017 is $22.05 and the lowest is $7.62 with an average tax rate for 333 Iowa schools in FY2017 of $ ICCSD is only 1 of 7 taxing entities that make up the total tax bill our patrons see each year. For FY2017 the District s share of the total tax bill is 35.7 cents of every property tax dollar while the City of Iowa City is asking for 42.9 cents. As a point of context reaching back over 30 years to the District was asking of the community for 42 cents and the City was at 33 cents of every $1.00 in the tax bill. The taxation objective, when possible, is to keep the rates stable for community patrons. 8

15 Tax base Growth Assumption 2: In the near term the District s property tax base growth may slow, but growth is still occurring. Changes in the FY2018 budget tax base will be computed from the January 2016 valuations. The growth in the District s tax base for is 4.23%. This compares to the 12 year running average annual growth rate of 4.78%. The growth of the tax base continues to be strong. An expanding tax base is positive and welcome as it allows the District to maintain relatively stable tax rates and still provide the required services. Budget Year Assessed Valuation Tax Increment Fin. Total Value FY2017 $ 5,462,098,208 $ 516,392,330 $ 5,978,490,538 FY2018 $ 5, 693,337,579 $ 538,050,473 $ 6,231,388,052 General Fund Regular Program Growth Assumption 3: State Percent of Growth (formerly called allowable growth) is legislatively set each year and is the primary resource revenue the District requires to deliver the educational program. Growth in the District Regular Program Cost, which is a function of student growth and state Percent of Growth, is a significant funding stream within the General Fund. This amount is to be legislatively set each January / February for the year following the current budget construction year. During the 2016 legislative session the state Percent of Growth rate was not set for the FY2018 as Iowa law requires. During the 2017 Governor s address to the legislature, it was proposed there be a 2% increase for FY2018 and a 2% increase for FY2019. State net general fund revenues, were determined by the Revenue Estimating Committee at their December 12, The Committee projected the remainder of the current budget year to be $96M lower than previous estimates. Legislators use these Committee estimates to set the official State Supplemental Assistance growth for future budget years. The District has a certified enrollment growth of students as taken in the October 2016 official count. This enrollment number is used to compute funding for FY2018 budget year. Based on this student increase and the allowable growth rate, the following increase can be projected in the Regular Program District Cost as follows: State Percent of Growth Rate ICCSD Growth (%) ICCSD Growth ($) 0.00% 2.27% $2,051, % 3.29% $2,974, % 4.31% $3,896, % 4.82% $4,358, % 5.34% $4,819,684 For the purpose of projecting the 5 year revenue and expenditure General Fund Budget parameters the following assumptions are proposed: Fiscal Year State Percent of Growth Rate 2.0% 2.0% 2.0% 2.0% 2.0% 9

16 Enrollment Assumption 4: The Iowa school aid formula for K-12 schools is primarily pupil driven. As a result, accurate annual enrollment projects are vital to the budgeting process. This table provides a projected certified enrollment modified to reflect the enrollment count taken on October 1, The district last received a projection report on December 12, 2016 by the District demographer DeJong Richter that will be used for the FY budget years. Budget Fiscal Year Certified Enrollment 2018 Actual , , , , , Cash Reserve Levy Assumption 5: The cash reserve levy will be used to provide continued gradual return of General Fund cash reserves to equal or exceed policy targets set by the Board of Education while remaining sensitive to any impact upon the property tax rate. Unfunded or under-funded state and federal mandated programs, delinquent property taxes, mid-year state aid cuts, and initial costs reflected in opening new buildings are all examples of why the cash reserve is needed. Two measures used to monitor the health of the ending fund balance position for the General Fund are the Financial Solvency Ratio and the Day s Net Cash Ratio. They are as follows: Reserve Indicator Financial Solvency 12.97% 11.21% 7.96% 9.34% 11.45% Day s Net Cash Best practice would suggest that performance measures target are: the Financial Solvency Ratio greater than 10% and the DNCR greater than 90 days. Fiscal Year Cash Reserve $8,377,780 $7,000,000 $8,000,000 $10,750,000 $12,000,000 Levy Amount Setting the cash reserve levy rate for FY2018 will require the District to factor in the current General Fund Balance plus anticipated delinquent taxes and mandatory state aid reductions. Based on the District s improved financial condition as of 6/30/16, the cash reserve levy may be lowered or stay the same for budget year FY2018. The exact amount of the levy will be determined during the overall budgeting process and projected cash flow analysis. Higher use of the cash reserve levy in the past two years has been the result of increasing needs experienced within the special education and ELL programs. 10

17 IPERS Assumption 6: Increase in IPERS contributions rates will be significant and will provide additional budgetary challenges. IPERS has the legal authority to increase rates up to 1% per year without additional legislative approval. The mix between the employer and employee contributions to IPERS has remained constant at 60% and 40% respectively. IPERS has released information that rates will not be adjusted and will remain the same for the 2018 fiscal year. The Employer IPERS contribution will be 8.93% with the employee contribution at 5.95%. The total FY2018 combined rate is 14.88%. Fiscal Year Employer Rate 8.93% 8.93% 8.93% 8.93% 8.93% Employee Rate 5.95% 5.95% 5.95% 5.95% 5.95% Total Rate 14.88% 14.88% 14.88% 14.88% 14.88% Medical Insurance Premiums Assumption 7: Due to the magnitude of this single cost category any increase in medical insurance premium rates will be significant and will provide additional budgetary challenges. The District aggressively manages employee health insurance benefits on several fronts. An insurance committee meets several times each year to keep staff informed and seek input on wise purchase decisions. Consulting firm RJ Lee helps the District to manage the self-funded medical plan and assists in negotiating better contract rates with insurance companies when third party administration is reviewed. Plan rates are typically finalized in February each year but it is anticipated there will be an increase of 5%-10% in single premium rates due to medical / medication cost trend inflation over the prior year. The table below illustrates the District s five year medical premium costs for all funds: Fiscal Year Bud Total Premiums $8,715,537 $9,368,260 $9,376,780 $9,743,623 $12,038,450 Rate Increase 0.00% 0.00% 0.00% 3.57% 8.62% General Fund Revenue / Expenditures Assumption 8: Revenue / Expenditures categories within the General Fund are influenced by many factors including student growth pressure and market basket inflationary trends. Looking ahead to FY2018 the largest single cost center to be controlled is wage adjustments for returning personnel. FY2016 ended with 84% of the total General Fund budget spent on personnel costs. On the positive side, student enrollment growth is projected to continue at levels similar to what has been experienced over the past five years. Revenues for the FY2018 budget under the school aid formula from previous projections will reflect a modest increase resulting from this enrollment growth. Miscellaneous revenue is expected to be stable for the FY2018 budget year. The opening of 11

18 Liberty High School will significantly affect the FY2018 budget expenditures. Expenditures pressures will result from the orders for supplies and small equipment items to furnish the high school that are scheduled to arrive during the early summer months of The following chart gives the anticipated / recommended cost increase assumptions to each expenditure group: Category Contract Purchased Wages Benefits Services Services Tuition Supplies Equip. Increase 2.5% 5.5% 2% 2% 2% 2% 2% Staffing Assumption 9: A review of District staff allocations supported by the General Fund monies is conducted each year in response to enrollment growth and current economic realities. Certified staff member numbers for FY2017 are 1, (full time equivalency) representing teachers, counselors, nurses, and categorical funded instruction. The administrative team s prioritization of staffing needs will make the best use of available resources and maintain class sizes within the Board of Education s Superintendent s directives. Union and Non-union Wage and Benefits Considerations Assumption 10: The District will make every effort to arrive at fair and equitable settlements that reflect current economic realities. As in all prior years, compensation increases in relationship to revenue growth plays a key role in the construction of a balanced budget. As noted above, 84% of the General Fund is comprised of wages and benefits. Over the long-term, total compensation that consistently matches the District s budget growth, results in a balanced and sustainable expenditure levels. Contracts and agreements for all union and meet and confer groups are open this cycle but are limited to primarily monetary discussions. The District Regular Program budget growth was 4.88% on 2.25% state SSA for FY2017. A summary of FY2017 compensation levels by group are provided below: Employee Group Total Wage and Benefit Cost Increase Employee Group Total Wage and Benefit Cost Increase Nutrition Services 3.27% Supervisors 3.25% Nutrition Managers 3.25% Building Secretaries 3.25% Para Educators 3.59% Teachers 3.71% Off Schedule 3.25% Physical Plant 3.25% Grants 3.25% Administrators 2.98% 12

19 Other District Tax Supported Funds Physical Plant and Equipment Levy, (PPEL) The voted PPEL extension will allow the $1.34 property tax levy to be applied through the budget year ending June 30, It is estimated given the ICCSD current assessed valuation, the total combined voter and Board approved levies of $1.67 will generate $10.0M in FY2018. It is projected that 15% of this total will be used for the transportation lease, 9.5% for debt service payments on the capital loan note issued in 2015, 2.5% for operational leases, and 26% for projects within the Facility Master Plan. This leaves an estimated 47% to be used to take care of our building life-cycle needs. These include but are not limited to: repairs and improvements to district buildings, comprehensive roofing program, playground equipment and surfacing, parking lots, sidewalks, heating, cooling, electrical wiring, plumbing, district service vehicles, maintenance equipment, etc. Sales Tax Fund Based on the District s current certified enrollment of 13,982 and a Legislative Service Agency estimate of $1,002 per student, the projected revenue for FY2018 is $14.0M. The proceeds of the SAVE funds are committed to educational technology improvements, the Family Resource Center, and projects identified in the ten-year Facility Master Plan. In addition, the District issued $60,030,000 of School Infrastructure Sales, and Service, and Use Tax Revenue Bonds in FY2015, $10,000,000 in FY2017, and $11,185,000 in FY2017. These bonds will be repaid from annual sales tax revenues received through June Debt Service Fund As of June 30, 2016, the District had $6,320,000 of general obligation bond debt. It is projected for FY2017 the District will need $3,115,000 in debt service taxes to service this amount. The tax rate in FY2017 was $ /$1,000. It is projected the debt service amount needed for FY2018 will be $3,205,000. Current debt maturity schedules will reduce the District s G.O. debt to zero on June 30, Revenue bonds will remain as a part of the district debt portfolio, however these obligations are being paid from sources other than property taxes. Management Fund The District uses this Fund to pay for workers compensation, unemployment compensation, property / liability & equipment breakdown coverage as well as the self-insured deductible required under these policies. It is anticipated that these costs will increase for the budget year. The District will continue to offer the early retirement program in the FY2018 budget but the total liability is yet to be fully determined. The property tax rate required for the Management Fund for the budget year will be primary dependent on the changes in property and liability insurance premium coverage. The tax rate for FY2017 is $0.75/$1,

20 Certified Budget 14

21 NOTICE OF PUBLIC HEARING PROPOSED IOWA CITY SCHOOL BUDGET SUMMARY FISCAL YEAR Department of Management - Form S-PB-8 Budget 2018 Re-est Actual 2016 Avg %16-18 Taxes Levied on Property 1 79,928,695 76,637,472 70,836, % Utility Replacement Excise Tax 2 888, ,678 1,005, % Income Surtaxes 3 6,816,288 6,816,288 6,938, % Tuition\Transportation Received 4 1,340,000 1,341,209 1,198,651 Earnings on Investments 5 329, , ,825 Nutrition Program Sales 6 2,750,000 2,500,000 2,357,084 Student Activities and Sales 7 2,200,000 2,100,000 2,314,891 Other Revenues from Local Sources 8 3,191,000 3,113,905 2,817,579 Revenue from Intermediary Sources State Foundation Aid 10 80,117,428 73,389,347 69,722,642 Instructional Support State Aid , Other State Sources 12 13,950,000 13,410,972 17,731,884 Commercial & Industrial State Replacement 13 2,322,365 2,225,481 2,569,205 Title 1 Grants 14 2,470,388 2,470,388 1,937,259 IDEA and Other Federal Sources 15 7,278,612 7,804,236 7,972,104 Total Revenues ,904, ,140, ,815,229 General Long-Term Debt Proceeds 17 21,100,000 21,185,000 64,724,294 Transfers In 18 8,835,154 6,935,633 6,789,315 Proceeds of Fixed Asset Dispositions ,905 Total Revenues & Other Sources ,839, ,261, ,340,743 Beginning Fund Balance 21 50,037,690 55,359,924 33,465,156 Total Resources ,877, ,621, ,805,899 *Instruction ,581, ,304, ,832, % Student Support Services 24 5,243,922 5,067,807 4,763,198 Instructional Staff Support Services 25 10,724,396 10,362,603 9,713,121 General Administration 26 2,058,484 1,989,351 1,869,778 School/Building Administration 27 7,590,559 7,335,633 6,894,713 Business & Central Administration 28 4,407,622 4,051,355 3,817,771 Plant Operation and Maintenance 29 14,728,177 13,951,522 13,136,712 Student Transportation 30 4,537,035 4,273,689 4,660,066 This row is intentionally left blank *Total Support Services (lines 24-31) 31A 49,290,195 47,031,960 44,855, % *Noninstructional Programs 32 6,781,870 6,205,400 6,410, % Facilities Acquisition and Construction 33 52,870,840 41,855,286 61,803,988 Debt Service 34 12,302,948 10,344,341 10,100,183 AEA Support - Direct to AEA 35 6,487,025 5,906,772 5,654,082 *Total Other Expenditures (lines 33-35) 35A 71,660,813 58,106,399 77,558, % Total Expenditures ,314, ,647, ,656,660 Transfers Out 37 8,835,154 6,935,633 6,789,315 Total Expenditures & Other Uses ,149, ,583, ,445,975 Ending Fund Balance 39 34,727,978 50,037,690 55,359,924 Total Requirements ,877, ,621, ,805,899 Proposed Tax Rate (per $1,000 taxable valuation) Location of Public Hearing: Date of Hearing: Time of Hearing: Educational Service Center N Dodge Street 04/11/17 1 6:00pm 1 1 Iowa City, Iowa xx/xx/xx The Board of Directors will conduct a public hearing on the proposed 2017/18 school budget at the above-noted location and time. At the hearing, any resident or taxpayer may present objections to, or arguments in favor of, any part of the proposed budget. This notice represents a summary of the supporting detail of revenues and expenditures on file with the district secretary. A copy of the details will be furnished upon request. 15

22 ADOPTED IOWA CITY SCHOOL BUDGET SUMMARY District No Department of Management - Form S-AB Budget 2018 Re-est Actual 2016 Taxes Levied on Property 1 79,928,695 76,637,472 70,836,347 Utility Replacement Excise Tax 2 888, ,678 1,005,584 Income Surtaxes 3 6,816,288 6,816,288 6,938,174 Tuition\Transportation Received 4 1,340,000 1,341,209 1,198,651 Earnings on Investments 5 329, , ,825 Nutrition Program Sales 6 2,750,000 2,500,000 2,357,084 Student Activities and Sales 7 2,200,000 2,100,000 2,314,891 Other Revenues from Local Sources 8 3,191,000 3,113,905 2,817,579 Revenue from Intermediary Sources State Foundation Aid 10 80,117,428 73,389,347 69,722,642 Instructional Support State Aid , Other State Sources 12 13,950,000 13,410,972 17,731,884 Commercial & Industrial State Replacement 13 2,322,365 2,225,481 2,569,205 Title 1 Grants 14 2,470,388 2,470,388 1,937,259 IDEA and Other Federal Sources 15 7,278,612 7,804,236 7,972,104 Total Revenues ,904, ,140, ,815,229 General Long-Term Debt Proceeds 17 21,100,000 21,185,000 64,724,294 Transfers In 18 8,835,154 6,935,633 6,789,315 Proceeds of Fixed Asset Dispositions ,905 Total Revenues & Other Sources ,839, ,261, ,340,743 Beginning Fund Balance 21 50,037,690 55,359,924 33,465,156 Total Resources ,877, ,621, ,805,899 *Instruction ,581, ,304, ,832,622 Student Support Services 24 5,243,922 5,067,807 4,763,198 Instructional Staff Support Services 25 10,724,396 10,362,603 9,713,121 General Administration 26 2,058,484 1,989,351 1,869,778 School/Building Administration 27 7,590,559 7,335,633 6,894,713 Business & Central Administration 28 4,407,622 4,051,355 3,817,771 Plant Operation and Maintenance 29 14,728,177 13,951,522 13,136,712 Student Transportation 30 4,537,035 4,273,689 4,660,066 This row is intentionally left blank *Total Support Services (lines 24-31) 31A 49,290,195 47,031,960 44,855,359 *Noninstructional Programs 32 6,781,870 6,205,400 6,410,426 Facilities Acquisition and Construction 33 52,870,840 41,855,286 61,803,988 Debt Service 34 12,302,948 10,344,341 10,100,183 AEA Support - Direct to AEA 35 6,487,025 5,906,772 5,654,082 *Total Other Expenditures (lines 33-35) 35A 71,660,813 58,106,399 77,558,253 Total Expenditures ,314, ,647, ,656,660 Transfers Out 37 8,835,154 6,935,633 6,789,315 Total Expenditures & Other Uses ,149, ,583, ,445,975 Ending Fund Balance 39 34,727,978 50,037,690 55,359,924 Total Requirements ,877, ,621, ,805,899 16

23 FY 2018 BUDGET YEAR WORKSHEET - Page 1 Department of Management - Form S-W1 Dist Number: 3141 IOWA CITY Special Revenue Entrp(23)Equal(25) Emg Levy (26) / This Column is Resources: General (10) Activity (21) Management (22) PERL (24) Lib(29)SpecRev(27) Disaster R (28) Blank Taxes Levied on Property 1 61,922,198 4,449, Utility Replacement Excise Tax 2 698,579 50, Income Surtaxes 3 6,816,288 3 Tuition\Transportation Received 4 1,340,000 4 Earnings on Investments 5 60,000 6, Nutrition Program Sales 6 6 Student Activities and Sales 7 2,200,000 7 Other Revenues from Local Sources 8 1,550,000 1,000,000 8,000 8 Revenue from Intermediary Sources 9 9 State Foundation Aid 10 80,117, Instructional Support State Aid , Other State Sources , Commercial & Industrial State Replacement 13 1,825, , Title 1 Grants 14 2,470, IDEA and Other Federal Sources 15 3,778, Total Revenues ,801,139 3,206,000 4,639, General Long-Term Debt Proceeds Transfers In/Special Items/Upward Adj , Proceeds of Fixed Asset Dispositions Total Revenues & Other Sources ,801,139 3,406,000 4,639, Beginning Fund Balance 21 19,180,108 1,101,875 2,991, Total Resources ,981,247 4,507,875 7,631, Requirements: Instruction ,740,929 3,080,171 1,760, Student Support Services 24 5,243, Instructional Staff Support Services 25 10,693,413 30, General Administration 26 2,058, School/Building Administration 27 7,590, Business & Central Administration 28 3,314,757 1,009, Plant Operation and Maintenance 29 13,087,711 13,104 1,361, Student Transportation 30 3,156, , This row is intentionally left blank Noninstructional Programs 32 29, Facilities Acquisition and Construction Debt Service (Principal, interest, fiscal charges) AEA Support - Direct to AEA 35 6,487, Total Expenditures ,403,269 3,507,875 4,131, Transfers Out/Special Items/Down Adj , Total Expenditures & Other Uses ,603,269 3,507,875 4,131, Ending Fund Balance 39 21,377,978 1,000,000 3,500, Total Requirements ,981,247 4,507,875 7,631,

24 FY 2018 BUDGET YEAR WORKSHEET - Page 2 Department of Management - Form S-W2 Dist Number: 3141 IOWA CITY Capital Projects (30-39) Debt Service Proprietary Re-estimated Actual Resources: Sales Tax (33) PPEL (36) Other Cap Proj (40) Nutrition (61) Oth Entp (62-69) FY17 FY16 Taxes Levied on Property 1 10,296,957 3,259,758 76,637,472 70,836,347 1 Utility Replacement Excise Tax 2 106,121 33, ,678 1,005,584 2 Income Surtaxes 3 6,816,288 6,938,174 3 Tuition\Transportation Received 4 1,341,209 1,198,651 4 Earnings on Investments 5 180,000 75,000 1,200 7, , ,825 5 Nutrition Program Sales 6 2,750,000 2,500,000 2,357,084 6 Student Activities and Sales 7 2,100,000 2,314,891 7 Other Revenues from Local Sources 8 450, ,000 8,000 3,113,905 2,817,579 8 Revenue from Intermediary Sources State Foundation Aid 10 73,389,347 69,722, Instructional Support State Aid Other State Sources 12 13,000,000 50,000 13,410,972 17,731, Commercial & Industrial State Replacement ,453 87,835 2,225,481 2,569, Title 1 Grants 14 2,470,388 1,937, IDEA and Other Federal Sources 15 3,500,000 7,804,236 7,972, Total Revenues 16 13,630,000 10,930, ,390,385 6,307, ,140, ,815, General Long-Term Debt Proceeds 17 21,100,000 21,185,000 64,724, Transfers In/Special Items/Upward Adj 18 8,635,154 6,935,633 6,789, Proceeds of Fixed Asset Dispositions , Total Revenues & Other Sources 20 34,730,000 10,930, ,025,539 6,307, ,261, ,340, Beginning Fund Balance 21 21,236,232 4,425, , , ,359,924 33,465, Total Resources 22 55,966,232 15,355, ,236,937 7,198, ,621, ,805, Requirements: Instruction ,304, ,832, Student Support Services 24 5,067,807 4,763, Instructional Staff Support Services 25 10,362,603 9,713, General Administration 26 1,989,351 1,869, School/Building Administration 27 7,335,633 6,894, Business & Central Administration 28 80,427 3,142 4,051,355 3,817, Plant Operation and Maintenance ,253 47,486 13,951,522 13,136, Student Transportation ,616 4,273,689 4,660, This row is intentionally left blank Noninstructional Programs ,499 6,450,704 6,205,400 6,410, Facilities Acquisition and Construction 33 42,697,662 10,173,178 41,855,286 61,803, Debt Service (Principal, interest, fiscal charges) ,153 12,083,795 10,344,341 10,100, AEA Support - Direct to AEA 35 5,906,772 5,654, Total Expenditures 36 43,298,741 11,388, ,086,937 6,498, ,647, ,656, Transfers Out/Special Items/Down Adj 37 7,667, ,663 6,935,633 6,789, Total Expenditures & Other Uses 38 50,966,232 12,355, ,086,937 6,498, ,583, ,445, Ending Fund Balance 39 5,000,000 3,000, , , ,037,690 55,359, Total Requirements 40 55,966,232 15,355, ,236,937 7,198, ,621, ,805,

25 2017/18 Certified Budget Resources By Fund Anticipated Beginning Total Percent Revenues Balance Resources of Total General $ 161,801,139 $ 19,239,787 $ 181,040, % Management $ 4,639,366 $ 2,394,196 $ 7,033, % PPEL $ 10,930,531 $ 4,425,179 $ 15,355, % Activity $ 3,406,000 $ 988,855 $ 4,394, % Capital Projects $ 34,730,000 $ 21,236,232 $ 55,966, % Debt Service $ 12,025,539 $ 105,299 $ 12,130, % Nutrition $ 6,307,000 $ 808,805 $ 7,115, % Total $ 233,839,575 $ 49,198,353 $ 283,037, % Total Resources $283,037,928 Activity 1.7% Capital Projects 18.7% Debt Service 3.7% Nutrition 3.0% General 64.4% General Management PPEL Activity PPEL 6.6% Capital Projects Debt Service Management 1.9% Nutrition U:\STAFF\ESC\Business\Budget Booklets\Cert1718Booklet\Booklet Files_orginal\4 CERTBUDRev Pie chart Resources 19

26 2017/18 Certified Budget Expenditures By Fund Anticipated Total Ending Total Percent Expenditures Balance Requirements of Total General $ 160,000,000 $ 21,040,926 $ 181,040, % Management $ 6,033,563 $ 999,999 $ 7,033, % PPEL $ 14,045,374 $ 1,310,336 $ 15,355, % Activity $ 3,394,855 $ 1,000,000 $ 4,394, % Capital Projects $ 55,368,919 $ 597,313 $ 55,966, % Debt Service $ 11,983,395 $ 147,443 $ 12,130, % Nutrition $ 6,115,804 $ 1,000,001 $ 7,115, % Total $ 256,941,910 $ 26,096,018 $ 283,037, % General Management PPEL Activity Capital Projects Debt Service Nutrition Activity 1.7% Capital Projects 18.7% Total Requirements $283,037,928 Debt Service 3.7% Nutrition 3.0% General 64.4% PPEL 6.6% Management 1.9% 20 U:\STAFF\ESC\Business\Budget Booklets\Cert1718Booklet\Booklet Files_orginal\4 CERTBUDRev Pie chart Expenses

27 Iowa City Community School District Balanced Budget History School Year Expenditures as a Percentage of Total Budget Authority Expenditures as a Percentage of Reoccurring Revenue % 102.0% % 98.7% % 97.9% % 99.7% % 103.1% % 101.9% % 98.6% % 97.7% Unique Events Creating Higher Expenditures As a matter of policy and good stewardship the District maintains a balanced budget process where budget expenditures should not exceed the annual reoccurring spending authority (only in years where there are extenuating circumstances) granted under the Iowa school aid to schools formula. Expenditures as a Percentage of Total General Fund Budget Authority % Budget Maximum Set by Iowa School Funding Formula % 98.00% 96.00% 94.00% 92.00% 90.00% 88.00% 86.00% FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 Expenditures as a Percentage of District General Fund Budget Reoccurring Revenue % % Budget Maximum Set by Iowa School Funding Formula % % % 99.00% 98.00% 97.00% 96.00% 95.00% FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 U:\STAFF\ESC\Business\Budget Booklets\Cert1718Booklet\Booklet Files_orginal\5 Unspent BAL_2_7_17 21

28 Taxation Impact 22

29 School District Levy Analysis Levy Name Levy Description Fund Maximum Rate Proposed District Levy Rate Uniform Levy Uniform $5.40 State-wide. General Fund A levy of $5.40, controlled by Foundation Aid Formula. $ Additional Levy At Risk / Dropout Prevention Instructional Support Levy Cash Reserve - SBRC Amount of Budget Levy for General Fund not funded by Uniform Levy or Foundation Aid (State Aid). This program is funded 75% by School Budget Review Committee approval of allowable growth and the 25% local district match. 100% property tax is used to fund the allowable growth portion. This program is funded in part by State Aid and the other by a combination of income surtax and property tax. The State Aid portion was discontinued beginning in the FY2012 budget year. The levy can be either a voted 10 year levy or a board voted for a maximum of 5 years. Renewal: Board voted 5 year commencing July 1, Expires: June 30, Cash Reserve Levy for student growth & other School Budget Review Committee decisions. Approved by Board annually. General Fund Determined by Foundation Aid Formula. General Fund Maximum amount approved to be levied = 4,619,521. General Fund General Fund 10% of Regular Program funding FY18 Maximum = $9,341,107. Actual Amount levied = $631,377 after state aid adjustment. Amount of Special Education negative balance prior year = $5,638,726 with total SBRC = $8,000,000. $ $ $ Balance can't exceed 20% Cash Flow Levy to fund cash flow requirements. Cash Reserve - Other General Fund of prior years expenditures. Approved by Board Annually. The District is Levying $4,500,000 at this time. $ Subtotal General Fund Levy: $ Insurance Levy Unemployment Levy Early Retirement Levy Levy for liability insurance coverage of District, Levy for tort judgments, equipment breakdown insurance, self fund liability coverage, and stop loss Approved by Board Annually. Levy for the payment of unemployment benefits liabilities of School District. Approved by Board Annually. Management Fund Management Fund Determined by the dollar amount of liability insurance premiums and the stop loss premium of self insurance plans. The actual unemployment liability and reserve balance. Levy for a local Early Retirement program per Board Policy. Approved by the Board Annually. Management Fund No maximum levy restriction. $ Subtotal Management Fund Levy: $ $ $ $ U:\STAFF\ESC\Business\Budget Booklets\Cert1718Booklet\Booklet Files_orginal\6 Available budget Levies

30 School District Levy Analysis Levy Name Levy Description Fund Maximum Rate PPEL Levy - Voted This 10 year levy requires a 50% plus 1 majority vote. The levy can be used for building and maintaining schoolhouse facilities, improvements to grounds and athletic fields, and other items as defined in the code of Iowa. Last Voted Expires: June 30, Projected Renewal Date: FY2024. PPEL Maximum is $1.34 $ Proposed District Levy Rate PPEL Levy Bonded Indebtedness Levy (Debt Service) Public Education and Recreation Levy The Levy can be used for building and maintaining schoolhouse facilities, improvements to grounds and athletic fields, and other items as defined in the code of Iowa. Approved by Board Annually. The amount of this levy is determined by the amount of outstanding indebtedness required to retire bonds issued that have been approved by a 60% majority vote. $0.135 Levy for school district to maintain and establish public recreation places and playgrounds on/in public buildings and grounds. The levy can also be used for Community Education. Once in place, the levy continues until the school board or the voters vote to discontinue. It is voted by simple majority. PPEL Maximum is $0.33 Debt Service $ 0.33 The levy may not exceed $2.70 / $1,000 assessed valuation unless a 60% majority vote approves a greater levy up to a maximum amount of $4.05 $ PERL Maximum is $0.135 The District currently does not have this levy in place. $ - Subtotal PPEL and Debt Service Fund Levy: $ Total Levy All Funds: $ U:\STAFF\ESC\Business\Budget Booklets\Cert1718Booklet\Booklet Files_orginal\6 Available budget Levies

31 Levy Detail Comparison % State Percent of Growth Fiscal Year Change Change Levy Amounts Levies By: General Fund: $ 60,238,731 $ 62,620,777 $ 2,382,046 $ $ $ ( ) At Risk / Dropout Prevention $ 4,417,848 $ 4,619,521 $ 201,673 $ $ $ BoE Instructional Support $ 422,599 $ 631,377 $ 208,778 $ $ $ BoE Cash Res. - Special Education Deficit $ 5,638,727 $ 5,273,105 $ (365,622) $ $ $ ( ) BoE Cash Res. - Advanced Inc. in Enroll. $ 2,051,123 $ 1,752,865 $ (298,258) $ $ $ ( ) BoE Cash Res. - For Cash Flow Purposes $ 4,310,150 $ 5,474,030 $ 1,163,880 $ $ $ BoE School Aid Formula $ 43,398,284 $ 44,869,879 $ 1,471,595 $ $ $ ( ) Formula Management Fund: $ 4,082,152 $ 4,500,000 $ 417,848 $ $ $ Property & Liability Insurance $ 1,904,680 $ 2,000,000 $ 95,320 $ $ $ BoE Unemployment / positive cash position $ 82,152 $ 700,000 $ 617,848 $ $ $ BoE Early Retirement $ 2,095,320 $ 1,800,000 $ (295,320) $ $ $ ( ) BoE Physical Plant and Equipment $ 9,984,079 $ 10,403,078 $ 418,999 $ $ $ - Regular ($0.33) $ 1,972,902 $ 2,055,698 $ 82,796 $ $ $ - BoE Voted ($1.34) $ 8,011,177 $ 8,347,380 $ 336,203 $ $ $ - Voters Debt Service $ 3,289,200 $ 3,293,350 $ 4,150 $ $ $ ( ) Voters Totals $ 77,594,162 $ 80,817,205 $ 3,223,043 $ $ $ ( ) Percent of Total Levy Controlled by: Taxable Valuation $ 5,462,098,208 $ 5,691,337,689 BoE 30.1% Tax Increment Valuation $ 516,392,330 $ 538,050,473 Formula 55.5% Debt Service & PPEL Valuation $ 5,978,490,538 $ 6,229,388,162 Voters 14.4% U:\STAFF\ESC\Business\Budget Booklets\Cert1718Booklet\Booklet Files_orginal\7 BudBook_3_1_17 25

32 Iowa City Community Schools Estimated Tax Rate FY A B C D E F Actual Estimate Annual Monthly FY2017 FY2018 $Inc./(Dec.) $Inc./(Dec.) Total Tax 1.11% SSA $ $ $ ( ) Residential Property Taxes: Roll Back % Property Subject to Tax Residential Example #1 100% Taxable Value $ 125,000 $ 125,000 Roll Back (RB) Value $ 69,532 $ 71,174 Homestead Credit (HC) Value* $ (4,850) $ (4,850) School Taxes on RB Value $ 973 $ 995 School Taxes on HC Value $ (68) $ (68) Total Net School Taxes $ 905 $ 927 $ $ 1.88 Residential Example #2 100% Taxable Value $ 250,000 $ 250,000 Roll Back (RB) Value $ 139,065 $ 142,348 Homestead Credit (HC) Value $ (4,850) $ (4,850) School Taxes on RB Value $ 1,945 $ 1,990 School Taxes on HC Value $ (68) $ (68) Total Net School Taxes $ 1,878 $ 1,923 $ $ 3.75 Residential Example #3 100% Taxable Value $ 375,000 $ 375,000 Roll Back (RB) Value $ 208,597 $ 213,522 Homestead Credit (HC) Value $ (4,850) $ (4,850) School Taxes on RB Value $ 2,918 $ 2,986 School Taxes on HC Value $ (68) $ (68) Total Net School Taxes $ 2,850 $ 2,918 $ $ 5.62 Commercial Property Taxes: Roll Back % Property Subject to Tax $ $ Commercial Example #1 100% Taxable Value $ 500,000 $ 500,000 Final Assessed Value* $ 450,000 $ 450,000 School Taxes $ 6,295 $ 6,292 $ (3.04) $ (0.25) Commercial Example #2 100% Taxable Value $ 750,000 $ 750,000 Final Assessed Value* $ 675,000 $ 675,000 School Taxes $ 9,443 $ 9,438 $ (4.56) $ (0.38) Commercial Example #3 100% Taxable Value $ 1,000,000 $ 1,000,000 Final Assessed Value* $ 900,000 $ 900,000 School Taxes $ 12,590 $ 12,584 $ (6.07) $ (0.51) * The final budget year homestead credit value will not be known until June 26 U:\STAFF\ESC\Business\Budget Booklets\Cert1718Booklet\Booklet Files_orginal\4 CERTBUDRev Pie chart 17-18

33 Iowa City Community Schools Total Tax Rate History Fiscal Year School Rate (Dec.)/Inc $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ (0.00) $ $ $ $ (0.10) $ $ (0.52) $ $ (0.39) $ $ $ $ $ $ 0.12 Total Tax Rate $ $ $ $ $ $ $ $ $ School Rate Linear (School Rate) $ $ U:\STAFF\ESC\Business\Budget Booklets\Cert1718Booklet\Booklet Files_orginal\7 BudBook_3_1_17 27

34 Iowa City Community Schools Historical / Estimated Rates Year Total Rate General Fund Management PPEL Debt Service Change $ $ $ $ $ $ $ $ $ $ $ $ (0.10) $ $ $ $ $ $ (0.52) $ $ $ $ $ $ (0.39) $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Budget $ $ $ $ $ $ (0.01) Est. $ $ $ $ $ $ Est. $ $ $ $ $ $ (0.05) Est. $ $ $ $ $ $ (0.05) Est. $ $ $ $ $ $ (0.04) Est. $ $ $ $ $ $ (0.05) Est. $ $ $ $ $ $ (0.04) Est. $ $ $ $ $ $ (0.04) Est. $ $ $ $ $ $ (0.04) Est. $ $ $ $ $ $ (0.04) Est. $ $ $ $ $ $ (0.04) Est. $ $ $ $ $ $ (0.04) Est. $ $ $ $ $ $ (0.04) Note: Estimated ley rates for future years beyond the budget year include the anticipated impact of the community passing the Facility Master Plan bond referendum scheduled for September 12, The estimated increase required in debt service is shown using a conservative 2.5% taxable valuation growth per year. There is a proposed reduction in the Management fund levy of 9 cents on the levy is anticipated for FY2019. The General Fund tax rate is primarily driven by the school aid formula, but for ICCSD this has been relatively stable over the years. A $2.5M reduction in the cash reserve levy is anticipated for FY2019 reducing the General Fund levy by 45 cents. Historical / Estimated Tax Rates $ $ $ $ Total Rate General Fund Management PPEL Debt Service $ $ $ $ $ $ $ $ $ $ $ $ $ Budget Est Est Est Est Est Est Est Est Est Est Est. Est. U:\STAFF\ESC\Business\Budget Booklets\Cert1718Booklet\Booklet Files_orginal\7 BudBook_3_1_17 Tax Rate hist. 28

35 45.00% Taxes Paid to the District as a Percentage of the Total Tax Bill 40.00% 35.00% 30.00% 25.00% 20.00% 15.00% 42.04% 42.30% 42.43% 41.14% 40.93% 41.60% 39.21% 39.17% 38.68% 38.74% 37.03% 36.47% 38.31% 38.25% 39.46% 39.27% 39.38% 38.30% 36.42% 35.75% 35.18% 34.15% 34.54% 34.77% 35.41% 35.66% 35.67% 34.98% 34.96% 35.90% 35.80% 35.63% 35.43% 35.56% 35.73% 36.10% 10.00% 5.00% All communities go through growth cycles as can be seen by the periods of time when additional resources are needed due to bu ilding programs. While the amount community patrons have paid in their total tax bill to support the District has remained relatively consistent through the years it is interesting to note that in the early 1980's the District was asking for a little more than 42 cents of every tax dollar and in the most recent budget this tax support has dropped to under 36 cents of every tax dollar paid. 0.00% School Rate as % of Total U:\STAFF\ESC\Business\Budget Booklets\Cert1718Booklet\Booklet Files_orginal\7 BudBook_3_1_17 29

36 For Taxes Payable in Fiscal Year Tax Rates are Dollars per Thousand of Assessed Valuation Rates reflect those taxes paid by residents of Iowa City $ Change % Change % of Taxing Body FY2015 FY2016 FY2017 Prior Year Prior Year Total Tax County ( ) -1.91% 17.48% Assessor % 0.63% Ag Extension ( ) -4.28% 0.20% Kirkwood % 2.79% State special % 0.01% School (ICCSD) % 36.10% City (IC only) ( ) -0.41% 42.80% Specials % 0.00% Totals ( ) -0.16% % % of Total Tax Specials, 0.00% City (IC only), 42.80% County, 17.48% Assessor, 0.63% Ag Extension, 0.20% School (ICCSD), 36.10% Kirkwood, 2.79% State special, 0.01% County Assessor Ag Extension Kirkwood State special School (ICCSD) City (IC only) Specials 30 U:\STAFF\ESC\Business\Budget Booklets\Cert1718Booklet\Booklet Files_orginal\8 County_tax_comp County Comparison

37 Taxation Rate Comparison 25 Largest Iowa Schools Rates (sorted by levy highest to lowest) Enrollment Levy Rank Rank District General Other Total 14 1 SOUTHEAST POLK $ $ $ ANKENY $ $ $ DES MOINES $ $ $ JOHNSTON $ $ $ MARSHALLTOWN $ $ $ WAUKEE $ $ $ LINN-MAR $ $ $ COUNCIL BLUFFS $ $ $ CLINTON $ $ $ FORT DODGE $ $ $ COLLEGE $ $ $ BURLINGTON $ $ $ MUSCATINE $ $ $ SIOUX CITY $ $ $ WATERLOO $ $ $ CEDAR RAPIDS $ $ $ DAVENPORT $ $ $ DUBUQUE $ $ $ OTTUMWA $ $ $ AMES $ $ $ PLEASANT VALLEY $ $ $ IOWA CITY $ $ $ BETTENDORF $ $ $ WEST DES MOINES $ $ $ CEDAR FALLS $ $ $ Average $ $ $ U:\STAFF\ESC\Business\Budget Booklets\Cert1718Booklet\Booklet Files_orginal\9 Top 25 schools rates_fy18 Taxation Rate Comp.

38 Iowa City Community School District UEN 8 Tax Rate Comparison Cedar Rapids $ $ $ $ $ $ $ $ $ $ Council Bluffs $ $ $ $ $ $ $ $ $ $ Davenport $ $ $ $ $ $ $ $ $ $ Des Moines $ $ $ $ $ $ $ $ $ $ Dubuque $ $ $ $ $ $ $ $ $ $ Iowa City $ $ $ $ $ $ $ $ $ $ Sioux City $ $ $ $ $ $ $ $ $ $ Waterloo $ $ $ $ $ $ $ $ $ $ ICCSD State Ranking # of Iowa Districts ICCSD State Ranking 64% 59% 59% 54% 58% 54% 54% 52% 51% 53% Rate Ranking is from highest to lowest U:\STAFF\ESC\Business\Budget Booklets\Cert1718Booklet\Booklet Files_orginal\7 32 BudBook_3_1_17

39 Debt Schedules for Taxation 33

40 Fiscal Year Levy Rate $ $ $ $ $ $ $ $ $ $ est $ Iowa City Community Schools Debt Service Tax Rate History Debt Service Tax Rate History $4.00 $3.50 $3.00 $2.50 $2.00 $1.50 $1.00 $0.775 $0.837 $0.787 $0.727 $0.749 $0.697 $0.635 $0.598 $0.586 $0.550 $0.529 $0.50 $ est U:\STAFF\ESC\Business\Budget Booklets\Cert1718Booklet\Booklet Files_orginal\7 BudBook_3_1_17 Debt Service Rate hist.

41 Form 703 LONG TERM DEBT SCHEDULE GENERAL OBLIGATION BONDS, REVENUE BONDS, LOANS, LEASE-PURCHASE PAYMENTS Department of Management Form includes ALL long term debt. Row 1 FINAL COLUMN is only Loans paid by VPPEL Tax. Rows 3-25 FINAL COLUMN is only GO Debt paid by Debt Service Tax. Amount of Issue (B) Type of Issue - Indicate GO (General Obligation Bond) or Non-GO (C) Date General Obligation Bond Certified to County Auditor (D) Principal Due FY18 (E) Interest Due FY18 +(F) Bond Registration Due FY18 +(G) Total Obligation Due FY18 =(H) Amount Paid from Other Sources & Fund Balance in Appropriate Fund -(I) VPPEL Loan Paid by VPPEL Taxes or GO Bond Amount Paid by Budget Year Debt Service Taxes =(J) Project Name (A) (1) All Voted PPEL Loan agreements on this line 9,430,000 Non-GO 12/9/14 825, , , ,663 0 (2) (3) Refund Series 2012A 4,480,000 GO 3/6/12 780,000 15, , ,600 (4) Refund Series 2012B 11,410,000 GO 3/6/12 2,425,000 72,750 2,497,750 2,497,750 (5) SAVE Series ,030,000 Non-GO 9/22/15 3,405,000 2,181,155 5,586,155 5,586,155 0 (6) SAVE Series ,000,000 Non-GO 12/22/16 740, , , ,000 0 (7) SAVE Series 2017A 11,185,000 Non-GO 1/19/17 830, ,336 1,116,336 1,116,336 0 (8) 0 0 (9) 0 0 (10) 0 0 (11) 0 0 (12) 0 0 (13) 0 0 (14) 0 0 (15) 0 0 (16) 0 0 (17) 0 0 (18) 0 0 (19) 0 0 (20) 0 0 (21) 0 0 (22) 0 0 (23) 0 0 (24) 0 0 (25) 0 0 (26) Totals (Lines 3-25) 8,180,000 2,780, ,960,841 7,667,491 3,293,350 35

42 Comparative Ratio of General Bonded Debt to Assessed Value Fiscal Year (of collection) Population Census every 10 years Assessed Property Value Legal bonded debt limit Bonded debt Ratio of Bonded Debt to Assessed Valuation Bonded Debt per Capita ,000 $ 3,341,924,947 $ 167,096,247 $ 36,445, % $ ,001 $ 3,469,937,601 $ 173,496,880 $ 34,080, % $ ,000 $ 3,859,143,612 $ 192,957,181 $ 31,700, % $ ,999 $ 4,011,810,830 $ 200,590,542 $ 29,205, % $ ,002 $ 4,272,156,417 $ 213,607,821 $ 26,690, % $ ,999 $ 4,473,488,984 $ 223,674,449 $ 24,160, % $ ,000 $ 4,643,640,687 $ 232,182,034 $ 21,505, % $ ,997 $ 4,806,027,801 $ 240,301,390 $ 17,990, % $ ,003 $ 5,010,901,831 $ 250,545,092 $ 15,165, % $ ,996 $ 5,200,648,516 $ 260,032,426 $ 12,280, % $ ,006 $ 5,471,006,291 $ 273,550,315 $ 9,345, % $ ,004 $ 5,600,477,037 $ 280,023,852 $ 6,633, % $ % Ratio of Bonded Debt to Assessed Valuation 1.00% 0.80% 0.60% 0.40% 0.20% 0.00% U:\STAFF\ESC\Business\Budget Booklets\Cert1718Booklet\Booklet Files_orginal\7 BudBook_3_1_17 36

43 3/9/2017 ICCSD G.O. Debt Sevices Schedule Principal and Interest Payments Year Ending March 6, 2012 March 6, 2012 Refunded Series 2012A Refunded Series 2012B Total $ 4,480,000 $ 11,410,000 Bonds Principal Interest Subtotal Principal Interest Subtotal Principal Interest Subtotal Principal Interest Subtotal Principal Interest Subtotal 2013 $725,000 $105,031 $830,031 $0 $0 $0 $725,000 $105,031 $830, $750,000 $75,100 $825,100 $2,135,000 $342,300 $2,477,300 $2,885,000 $417,400 $3,302, $725,000 $60,100 $785,100 $2,210,000 $278,250 $2,488,250 $2,935,000 $338,350 $3,273, $740,000 $45,600 $785,600 $2,285,000 $211,950 $2,496,950 $3,025,000 $257,550 $3,282, $760,000 $30,800 $790,800 $2,355,000 $143,400 $2,498,400 $3,115,000 $174,200 $3,289, $780,000 $15,600 $795,600 $2,425,000 $72,750 $2,497,750 $3,205,000 $88,350 $3,293, $0 $0 $ $0 $0 $ $0 $0 $ $0 $0 $ $0 $0 $ $0 $0 $ $0 $0 $ $0 $0 $ $0 $0 $ $0 $0 $ $0 $0 $0 Total $4,480,000 $332,231 $4,812,231 $11,410,000 $1,048,650 $12,458,650 $0 $0 $0 $0 $0 $0 $15,890,000 $1,380,881 $17,270,881 C:\Users\smith.kiane\AppData\Local\Microsoft\Windows\Temporary Internet Files\Content.Outlook\7X8PCF5S\8a_G_O_DEBT_02_01_17 Debt 37

44 3/9/2017 ICCSD PPEL G.O. Debt Sevices Schedule Principal and Interest Payments Year Ending December 11, 2014 PPEL G.O. Capital Loan Series 2014 $ 9,430,000 Bonds Principal Interest Subtotal Principal Interest Subtotal Principal Interest Subtotal Principal Interest Subtotal Principal Interest Subtotal 2015 $800,000 $83,811 $883,811 $800,000 $83,811 $883, $800,000 $174,963 $974,963 $800,000 $174,963 $974, $815,000 $158,963 $973,963 $815,000 $158,963 $973, $825,000 $142,663 $967,663 $825,000 $142,663 $967, $835,000 $126,163 $961,163 $835,000 $126,163 $961, $845,000 $109,463 $954,463 $845,000 $109,463 $954, $865,000 $92,563 $957,563 $865,000 $92,563 $957, $880,000 $75,263 $955,263 $880,000 $75,263 $955, $900,000 $57,663 $957,663 $900,000 $57,663 $957, $920,000 $39,663 $959,663 $920,000 $39,663 $959, $945,000 $21,263 $966,263 $945,000 $21,263 $966, $0 $0 $ $0 $0 $ $0 $0 $ $0 $0 $ $0 $0 $ $0 $0 $0 Total $9,430,000 $1,082,436 $10,512,436 $0 $0 $0 $0 $0 $0 $0 $0 $0 $9,430,000 $1,082,436 $10,512,436 Total C:\Users\smith.kiane\AppData\Local\Microsoft\Windows\Temporary Internet Files\Content.Outlook\7X8PCF5S\8b_PPEL_DEBT_02_01_17 Debt 38

45 3/9/2017 ICCSD SAVE Debt Sevices Schedule Principal and Interest Payments Year Ending September 22, /22/2016 1/19/2017 Series 2015 Series 2016 Series 2017A Total $ 60,030,000 $ 10,000,000 $11,185,000 Bonds Balance Principal Interest Subtotal Balance Principal Interest Subtotal Balance Principal Interest Subtotal Principal Interest Subtotal 2016 $60,030,000 $3,950,000 $1,631,853 $5,581,853 $0 $3,950,000 $1,631,853 $5,581, $56,080,000 $3,305,000 $2,280,305 $5,585,305 $10,000,000 $99,375 $99,375 $11,185,000 $104,990 $104,990 $3,305,000 $2,484,670 $5,789, $52,775,000 $3,405,000 $2,181,155 $5,586,155 $10,000,000 $740,000 $225,000 $965,000 $11,185,000 $830,000 $286,336 $1,116,336 $4,975,000 $2,692,491 $7,667, $49,370,000 $3,540,000 $2,044,955 $5,584,955 $9,260,000 $755,000 $208,350 $963,350 $10,355,000 $845,000 $265,088 $1,110,088 $5,140,000 $2,518,393 $7,658, $45,830,000 $3,715,000 $1,867,955 $5,582,955 $8,505,000 $775,000 $191,363 $966,363 $9,510,000 $865,000 $243,456 $1,108,456 $5,355,000 $2,302,774 $7,657, $42,115,000 $3,900,000 $1,682,205 $5,582,205 $7,730,000 $790,000 $173,925 $963,925 $8,645,000 $885,000 $221,312 $1,106,312 $5,575,000 $2,077,442 $7,652, $38,215,000 $4,100,000 $1,487,205 $5,587,205 $6,940,000 $805,000 $156,150 $961,150 $7,760,000 $900,000 $198,656 $1,098,656 $5,805,000 $1,842,011 $7,647, $34,115,000 $4,300,000 $1,282,205 $5,582,205 $6,135,000 $825,000 $138,038 $963,038 $6,860,000 $920,000 $175,616 $1,095,616 $6,045,000 $1,595,859 $7,640, $29,815,000 $4,515,000 $1,067,205 $5,582,205 $5,310,000 $840,000 $119,475 $959,475 $5,940,000 $940,000 $152,064 $1,092,064 $6,295,000 $1,338,744 $7,633, $25,300,000 $4,745,000 $841,455 $5,586,455 $4,470,000 $855,000 $100,575 $955,575 $5,000,000 $960,000 $128,000 $1,088,000 $6,560,000 $1,070,030 $7,630, $20,555,000 $4,885,000 $699,105 $5,584,105 $3,615,000 $875,000 $81,338 $956,338 $4,040,000 $980,000 $103,424 $1,083,424 $6,740,000 $883,867 $7,623, $15,670,000 $5,045,000 $540,343 $5,585,343 $2,740,000 $895,000 $61,650 $956,650 $3,060,000 $1,000,000 $78,336 $1,078,336 $6,940,000 $680,329 $7,620, $10,625,000 $5,220,000 $363,768 $5,583,768 $1,845,000 $915,000 $41,513 $956,513 $2,060,000 $1,020,000 $52,736 $1,072,736 $7,155,000 $458,016 $7,613, $5,405,000 $5,405,000 $181,068 $5,586,068 $930,000 $930,000 $20,925 $950,925 $1,040,000 $1,040,000 $26,624 $1,066,624 $7,375,000 $254,729 $7,629,729 Total $0 $60,030,000 $18,150,780 $78,180,780 $0 $10,000,000 $1,617,675 $11,617,675 $0 $11,185,000 $2,036,638 $13,221,638 $81,215,000 $21,831,205 $103,046,205 C:\Users\smith.kiane\AppData\Local\Microsoft\Windows\Temporary Internet Files\Content.Outlook\7X8PCF5S\8c_SAVE_DEBT_1718_02_1_17 Debt 39

46 Cash Reserve Levy 40

47 IOWA CITY COMMUNITY SCHOOL DISTRICT BUDGET INFORMATION 3/9/2017 FOR FISCAL YEAR BUDGET GENERAL FUND: Cash Reserve-SBRC: Special Ed deficit 5,638,727 ELL FY16 additional 1,168,545 ELL Application amount 220,972 On-time Funding Application amount 2,051,123 Open Enrollment Application amount 0 Asbestos Application amount 346,478 First Year Staffing estimate 0 9,425,845 Cash Reserve-Other: Cash estimate 2,736,439 Juvenile Home (56,286 x 6) 337,716 State Aid Reductions*: Foundation Aid 0 Categoricals 0 3,074,155 Combined 12,500,000 Additional Allowable Growth: At Risk-Drop Out Prevention, per DE website 4,619,521 MANAGEMENT FUND: Early Retirement: Payment to SPDP 1/17/17 Insurance N/A 0 applications 1,280,723 Insurance: Property & Liability 3% increase per AJG 460,000 Cyber Liability combined w/ property 0 Non-covered claims estimate 100,000 Workers Comp 5% increase per AJG 820,000 Equipment Breakdown Used 2% increase 765,000 Unemployment estimate 75,000 Other Cash reserve 999,277 3,219,277 Total Management Fund Projected Budget Needs 4,500,000 41

48 Enrollment 42

49 ICCSD Community Schools Enrollment History Certified Inc. From Sept/Oct Enrollment Prior Year , , , , , , , , , , , , , , , Enrollment Increase From Prior Year Inc. From Prior Year Linear (Inc. From Prior Year) U:\STAFF\ESC\Business\Budget Booklets\Cert1718Booklet\Booklet Files_orginal\7 BudBook_3_1_17 Oct.enroll. #inc 43

50 17,000.0 Count Certified Date Enrollment , , , , , , , , , , , , , , ,981.6 * ,214.1 * ,450.4 * ,677.6 * ,870.4 * ,075.9 * = Projected 16, , , , , , , ,943.2 ICCSD Historical and Projected Certified Enrollment 10, , , , , , , , , , ,328.0 Projected 13, , , , ,677.6 Certified Enrollment Linear (Certified Enrollment) 14, , , ,000.0 *2021 *2020 *2019 *2018 * U:\STAFF\ESC\Business\Budget Booklets\Cert1718Booklet\Booklet Files_orginal\7 BudBook_3_1_17 44

51 ICCSD Schools Open Enrollment Tuition Prior Year State Year In Out Net Per Pupil Cost Net Dollars $ 4,512 $ (219,283.20) $ 4,557 $ (332,661.00) $ 4,648 $ (539,632.80) $ 4,741 $ (541,422.20) $ 4,931 $ (524,658.40) $ 5,128 $ (412,804.00) $ 5,333 $ (551,432.20) $ 5,546 $ (754,810.60) $ 5,768 $ (1,110,340.00) $ 5,883 $ (1,444,276.50) $ 5,883 $ (1,501,929.90) $ 6,001 $ (1,679,679.90) $ 6,121 $ (1,648,997.40) $ 6,366 $ (1,861,418.40) $ 6,446 $ (2,141,361.20) $ 6,591 $ (2,353,646.10) Total net funds expended since FY2000 of the Iowa open enrollment law $ (17,818,399.60) Net Dollars $ (36,624,577.20) $(2,500,000.00) $(2,000,000.00) $(1,500,000.00) $(1,000,000.00) $(500,000.00) $- 45 U:\STAFF\ESC\Business\Budget Booklets\Cert1718Booklet\Booklet Files_orginal\7 BudBook_3_1_17 Open enroll loss ICCSD

52 Property Valuations 46

53 Iowa City Community Schools Comparison of % Growth In Regular Program vs. Growth in Assessed Value Regular % Growth in Assessed % Growth in Program A&L(5.1) Regular Program Valuation Assessed Value $ 67,965, % $ 4,473,488, % $ 70,230, % $ 4,643,640, % $ 70,863, % $ 4,806,027, % $ 74,944, % $ 5,010,901, % $ 78,409, % $ 5,200,648, % $ 83,999, % $ 5,471,006, % $ 86,138, % $ 5,600,477, % $ 90,517, % $ 5,978,490, % $ 93,411, % $ 6,229,388, % 14.00% % Growth in Regular Program % Growth in Assessed Value 12.00% 10.00% 8.00% 6.00% 4.00% 2.00% 0.00% U:\STAFF\ESC\Business\Budget Booklets\Cert1718Booklet\Booklet Files_orginal\7 BudBook_3_1_17 47

54 Iowa City Community Schools Comparison of % Growth In Total Assessed Value Assessed Total TIF as % % Growth In Running Value TIF Value Value of Total Assessed Value Average (Since 2004) $ 3,506,845,408 $ 352,298,204 $ 3,859,143, % 9.00% 4.93% $ 3,617,747,539 $ 394,063,291 $ 4,011,810, % 3.16% 4.58% updated 1/18/ $ 3,833,246,280 $ 438,910,137 $ 4,272,156, % 5.96% 4.81% $ 4,074,091,742 $ 399,397,242 $ 4,473,488, % 6.28% 5.02% $ 4,281,470,446 $ 362,170,241 $ 4,643,640, % 5.09% 5.03% $ 4,441,942,061 $ 364,085,740 $ 4,806,027, % 3.75% 4.88% $ 4,662,702,991 $ 348,198,840 $ 5,010,901, % 4.97% 4.89% $ 4,794,974,979 $ 405,673,537 $ 5,200,648, % 2.84% 4.71% $ 4,993,657,947 $ 477,348,344 $ 5,471,006, % 4.14% 4.66% $ 5,113,546,050 $ 486,930,987 $ 5,600,477, % 2.40% 4.49% $ 5,462,098,208 $ 516,392,330 $ 5,978,490, % 6.82% 4.65% $ 5,691,337,689 $ 538,050,473 $ 6,229,388, % 4.20% 4.62% 10.00% 9.00% 9.00% % Growth In Assessed Value Running Average (Since 2004) 8.00% 7.00% 6.00% 6.28% 6.82% 5.00% 4.93% 4.00% 4.58% 5.96% 4.81% 5.02% 5.09% 5.03% 4.97% 4.88% 4.89% 4.71% 4.14% 4.66% 4.49% 4.65% 4.62% 4.20% 3.00% 2.00% 3.16% 3.75% 2.84% 2.40% 1.00% 0.00% U:\STAFF\ESC\Business\Budget Booklets\Cert1718Booklet\Booklet Files_orginal\7 BudBook_3_1_17 Growth Assessed Running 48

55 Iowa City Community Schools Comparison of % Growth In Total Assessed Value Non-TIF Total TIF as % % Growth In Value TIF Value Assessed Value Of Total Non-TIF Value $ 3,506,845,408 $ 352,298,204 $ 3,859,143, % 9.00% $ 3,617,747,539 $ 394,063,291 $ 4,011,810, % 3.16% $ 3,833,246,280 $ 438,910,137 $ 4,272,156, % 5.96% $ 4,074,091,742 $ 399,397,242 $ 4,473,488, % 6.28% $ 4,281,470,446 $ 362,170,241 $ 4,643,640, % 5.09% $ 4,441,942,061 $ 364,085,740 $ 4,806,027, % 3.75% $ 4,662,702,991 $ 348,198,840 $ 5,010,901, % 4.97% $ 4,794,974,979 $ 405,673,537 $ 5,200,648, % 2.84% $ 4,993,657,947 $ 477,348,344 $ 5,471,006, % 4.14% $ 5,113,546,050 $ 486,930,987 $ 5,600,477, % 2.40% $ 5,462,098,208 $ 516,392,330 $ 5,978,490, % 6.82% $ 5,691,377,689 $ 538,050,473 $ 6,229,428, % 4.20% Average= 8.58% 4.88% 15.00% 13.00% 11.00% 9.00% 7.00% 5.00% 3.00% 9.00% 9.13% 9.82% 3.16% 10.27% 8.93% 5.96% 6.28% 7.80% 5.09% Percentage Annual Growth in Assessed 7.58% 3.75% 6.95% 4.97% TIF as a Percentage of Total Value 8.69% 8.64% 8.64% 8.73% 6.82% 7.80% 4.14% 4.20% 2.84% 2.40% 1.00% -1.00% U:\STAFF\ESC\Business\Budget Booklets\Cert1718Booklet\Booklet Files_orginal\7 BudBook_3_1_17 49

56 Revenue Projections 50

57 History of State Percent of Growth State Per Pupil Cost Allowable Fiscal Allowable Growth State Year Growth $ Amount Average % P.P.C. P.P.C % $ $3, % $70.00 $3, % $97.00 $3, % $ $3, % $ $3, % $ $3, % $ $4, % $ $4, % $ $4, % $ $4, % $45.00 $4, % $91.00 $4, % $93.00 $4, % $ $4, % $ $5, % $ $5, % $ $5, % $ $5, % $ $5, % $0.00 $5, % $ $6, % $ $6, % $ $6, % $80.00 $6, % $ $6, % $73.00 $6, *Estimate 51 U:\STAFF\ESC\Business\Budget Booklets\Cert1718Booklet\Booklet Files_orginal\7 BudBook_3_1_17 algrhistory

58 Iowa City Community School District State Percent of Growth Projections Budget Year FY2018 STATE GROWTH ICCSD DISTRICT GROWTH PERCENT DOLLARS ST. RPCP RPDCP RPDC PERCENT DOLLARS 0.00% $0 $6,591 $6,608 $92,390, % $2,051, % $7 $6,598 $6,615 $92,488, % $2,149, % $13 $6,604 $6,621 $92,572, % $2,233, % $20 $6,611 $6,628 $92,670, % $2,330, % $26 $6,617 $6,634 $92,754, % $2,414, % $33 $6,624 $6,641 $92,852, % $2,512, % $40 $6,631 $6,648 $92,949, % $2,610, % $46 $6,637 $6,654 $93,033, % $2,694, % $53 $6,644 $6,661 $93,131, % $2,792, % $59 $6,650 $6,667 $93,215, % $2,876, % $66 $6,657 $6,674 $93,313, % $2,974, % $73 $6,664 $6,681 $93,411, % $3,071, % $79 $6,670 $6,687 $93,495, % $3,155, % $86 $6,677 $6,694 $93,593, % $3,253, % $92 $6,683 $6,700 $93,676, % $3,337, % $99 $6,690 $6,707 $93,774, % $3,435, % $105 $6,696 $6,713 $93,858, % $3,519, % $112 $6,703 $6,720 $93,956, % $3,617, % $119 $6,710 $6,727 $94,054, % $3,715, % $125 $6,716 $6,733 $94,138, % $3,799, % $132 $6,723 $6,740 $94,236, % $3,896, % $135 $6,726 $6,743 $94,278, % $3,938, % $142 $6,733 $6,750 $94,376, % $4,036, % $148 $6,739 $6,756 $94,459, % $4,120, % $155 $6,746 $6,763 $94,557, % $4,218, % $161 $6,752 $6,769 $94,641, % $4,302, % $168 $6,759 $6,776 $94,739, % $4,400, % $175 $6,766 $6,783 $94,837, % $4,498, % $181 $6,772 $6,789 $94,921, % $4,581, % $188 $6,779 $6,796 $95,019, % $4,679, % $194 $6,785 $6,802 $95,103, % $4,763, % $198 $6,789 $6,806 $95,158, % $4,819, % $204 $6,795 $6,812 $95,242, % $4,903, % $211 $6,802 $6,819 $95,340, % $5,001, % $218 $6,809 $6,826 $95,438, % $5,099, % $224 $6,815 $6,832 $95,522, % $5,183, % $231 $6,822 $6,839 $95,620, % $5,281, % $237 $6,828 $6,845 $95,704, % $5,364, % $244 $6,835 $6,852 $95,802, % $5,462, % $250 $6,841 $6,858 $95,886, % $5,546, % $257 $6,848 $6,865 $95,983, % $5,644, % $264 $6,855 $6,872 $96,081, % $5,742, STATE REG. PROG. COST / PUPIL $6, REG. PROG. DISTRICT COST $90,339, REG. PROG. DISTRICT COST $86,138, REG. PROG. BUDGET GROWTH $4,200, Cert. Enr. as of 10/01/16 13, Cert. Enr. as of 10/01/15 13, Growth/(Decline) U:\STAFF\ESC\Business\Budget Booklets\Cert1718Booklet\Booklet Files_orginal\11 AG Projections_FY18_2_9_

59 ICCSD Community School District - General Fund Revenue Code Code # Description Actual Actual Re-estimated Projected General Fund /9/2017 X 1111 Property Tax 43,136,944 44,530, ,067,226 49,489,400 X 1112 Prop Tax Cash Reserve 7,976,888 9,861, ,000,000 12,500,000 X 1114 Instr. Support Prop Tax 288, , , ,377 X 1119 Business Property Tax Credit (new in ) 230, , X 1134 Instr Support Surtax (A&L 10.25) 6,389,321 6,938, ,816,288 7,138,173 X 1171 Utility Excise Replacement Tax 1,334, , , , Mobile Home Tax 153, , , , Tuition - School Year - Individuals 625 1, ,000 5, Tuition Special Education 648, , , , Open Enrollment - LEA 639, , , , Tuition - Other 141, , , , Summer School Tuition 14,675 20, ,000 5, Transportation Fee 6,885 14, ,000 10, Investment Interest 64,522 41, ,000 60, Miscellaneous Fees Local - Textbook / Reg. 451, , , , Rental 203, , , , Donations/Contributions 221, , , , Sale Serv. AEA/LEA 338, , , , Services Provided to Others 217, , , , Misc Revenue 926, , , ,000 X 3111 State Foundation Aid ( ) 53,798,907 53,832, ,197,148 57,493,655 X Teacher Leadership Grant (new in ) a&l ,370,956 4,519,832 X 3113 Spec Ed Deficit State additional contribution 105,317 61, ,000 - X 3117 State 4 Year Old Preschool (A&L 7.34) 1,094,952 1,282, ,272,063 1,316, Supplemental State Aid (one time FY2014 payment only) Foster Care 1,702 15, ,000 5, District Court Placed 21,242 14, ,000 20, Mentor/New Teacher 92,300 86, ,000 50,000 X 3204 Teacher Salary improve A&L ,927,503 7,107, ,461,331 7,718,822 X 3214 AEA Flow Through A&L ,551,884 5,654, ,906,772 6,487,025 X 3216 Early Intervention Reading A&L , , , , Transportation Aid - Non Public 223, , , , Non Public Textbooks 20,238 20, ,000 20, Truancy Prevention Grant 14,495 60, ,000 60, At Risk Pre School - Hills & Wood 126, , , , At Risk Pre School - Twain / Fam. Resource Ctr. 71, , , , State Vocational Aid 24,338 24, Prevention Through Mentoring 54,927 8, ,000 30, Early Literacy 121, , , , Model Core STEM X 3373 Prof Dev Core Curriculum A&L 4.30 portion 256, , , ,722 X 3376 Teacher Quality Prof Dev A&L 4.30 portion 70.18% 603, , , , Teacher Leadership Grant - 4,167, X 3803 State Replacement-C&I 1,043,891 2,025, ,665,481 1,825, Impact Aid - - 2,000 2, Carol White PE Program 269, , Title 1 Current year plus SINA 1,795,509 1,747, ,174,482 2,100, Title 1 Carryover 176, , , , IDEA Grants 117,174 18, ,000 30, Carl Perkins Fund 119, , , , McKinney Homeless 35,000 36, ,000 36, DHS Wrap Around Odd 42,000 26, ,000 21, U:\STAFF\ESC\Business\Budget Booklets\Cert1718Booklet\Booklet Files_orginal\12 ESTREV FY 2018_3_1_17

60 ICCSD Community School District - General Fund Revenue Code Code # Description Actual Actual Re-estimated Projected 4573 Comm Serve Grants - 8, School Health Grants Medicaid 2,340,157 2,407, ,400,000 2,200, EESA II Eisenhower (class size reduction) 310, , , , Title 3 - Eng. Lang. Acquisition 89, , ,651 45, Title VI Assessment / Testing 63,890 52, ,434 26, Advanced Placement 2,326-1,000 1, st Century Grant 370, , , , Part B - Through an AEA 641, , , , ipirc Grant 1,134 2, Fed Flood Control 5,020 5, ,000 3, Interfund Transfers 60,000 60, Comp. For Asset Loss / sale of assets 12,743 10, ,000 15,000 Sub-Total General Fund Revenue with Unspent Balance $ 140,870, ,491, $ 157,468,064 $ 161,851,139 Cash Reserve Levy A&L 15.9/15.10 $ 7,976,888 9,861, $ 12,000,000 $ 12,500,000 General Fund Revenue Available to Fund Budget $ 132,893, ,629, $ 145,468,064 $ 149,351,139 General Fund without AEA Flowthrough Revenue $ 127,341, ,975, $ 139,561,292 $ 142,864,114 Local $ 4,100,371 3,039, $ 2,963,614 $ 2,965,000 State $ 772,615 4,971, $ 893,773 $ 885,000 Federal $ 6,379,586 6,462, $ 6,736,823 $ 6,249,000 Total Miscellaneous Income $ 11,252,573 14,473, $ 10,594,210 $ 10,099,000 Budget year 45.4% Local effort $ 63,456,252 66,308, $ 70,018,633 $ 73,422, % State Effort $ 71,034,809 74,693, $ 80,712,608 $ 82,179, % Federal Effort $ 6,379,586 8,488, $ 6,736,823 $ 6,249, % Total Budget $ 140,870, ,491, $ 157,468,064 $ 161,851,139 X Equals lines not in miscellaneous income 54 U:\STAFF\ESC\Business\Budget Booklets\Cert1718Booklet\Booklet Files_orginal\12 ESTREV FY 2018_3_1_17

61 Iowa City Community Schools Operating Fund Estimated Budget Maximum for FY % Allowable Growth Assumption $93,411,070 Regular Program District cost (line 5.1) $2,546,256 District Cost for Supplemental weighting (line 5.3) $8,830,010 Special Education District cost (line 5.4) $7,718,822 Teacher Salary Supp. (line 5.5) $954,803 Professional Dev. (line 5.6) $978,572 Early Intervention (line 5.7) $4,519,832 Teacher Leadership Supplement ( line 5.8 ) $4,468,399 AEA Special Education District Cost ( line 5.9 ) $815,892 Media Services District Cost ( line 5.11 ) $896,404 Education Services District Cost ( line 5.12 ) $417,932 AEA Teacher Salary Supp. ( line 5.14) $48,664 AEA professional Dev. ( line 5.15) ($160,266) AEA reduction (line 5.16) $4,619,521 Additional Allowable Growth At Risk ( line 5.17 ) ($646) Enrollment Adjustment (line 5.18) $130,065,265 Sub-Total Combined District cost (line 17.1) $10,149,300 Estimated Unspent from Prior Year (line 17.2) $7,769,550 Instructional Support Levy (line 10.27) $1,316,140 Preschool (line 7.35) $10,099,000 Estimated Other Miscellaneous Income (line 17.8) $159,399,255 Total District Cost Max budget Authority (line 17.9) $1,552,664 Est. On Time Funding $ 6, Student Growth (Oct 2016 est) $4,500,000 Est. Additional Allowable Growth - Est. Special Ed Deficit $3,100,000 Est. Additional Allowable Growth - ESL, open buildings, asbestos $168,551,919 Projected Grand Total District Cost $10,149,300 Estimated Unspent from Prior Year (line 17.2) $158,402,619 Estimated District Total Budget (Breakeven Point) $6,487,025 AEA Flow Through Funding (line 16.11) $151,915,594 Estimated District Total Maximum Budget (less USB & AEA) ($15,155) Utility Replacement Adjustment (line 13.9) $1,552,664 Est. On Time Funding $150,378,085 Maximum Budget with Reoccurring Revenues only (Estrev ) 55 U:\STAFF\ESC\Business\Budget Booklets\Cert1718Booklet\Booklet Files_orginal\13 Max GF Budget CalcFY_2_9_17

62 School Aid Formula Aid & Levy 56

63 FY 2018 Aid and Levy Worksheet AEA/Dist No IOWA CITY BUDGET ENROLLMENT 13,981.6 * 1.1 Budget Enrollment (Oct 2016 Budget Enrollment) (0.100) *** 1.2 Audited Change in Oct 2015 Certified Enrollment X 6, FY17 Regular Program District Cost Per Pupil (Line FY17 Aid & Levy) = (646) 1.4 Enrollment Audit Adjustment 5, FY17 Regular Program Foundation Cost Per Pupil X (0.100) *** 1.6 Audited Change in Oct 2015 Certified Enrollment (Line 1.2) = (564) 1.7 Enrollment Audit Adjustment - State Aid Portion COST PER PUPIL AMOUNTS 6, FY17 Regular Program District Cost Per Pupil (Line 1.3) FY18 Regular Program Supplemental State Aid Amount Per Pupil = 6, FY18 Regular Program District Cost Per Pupil ** 2.4 FY17 Teacher Salary Supplement Cost Per Pupil (Line FY17 Aid & Levy) ** 2.5 FY18 Teacher Salary Supplement Supplemental State Aid Amount Per Pupil = ** 2.6 FY18 Teacher Salary Supplement Cost Per Pupil ** 2.7 FY17 Professional Dev Suppl Cost Per Pupil (Line FY17 Aid & Levy) ** 2.8 FY18 Professional Development Supplement Supplemental State Aid Amt Per Pupil = ** 2.9 FY18 Professional Development Supplement Cost Per Pupil ** 2.10 FY17 Early Intervention Suppl Cost Per Pupil (Line FY17 Aid & Levy) ** 2.11 FY18 Early Intervention Supplement Supplemental State Aid Amount Per Pupil = ** 2.12 FY18 Early Intervention Supplement Cost Per Pupil ** 2.13 FY17 Teacher Leadership Suppl Cost Per Pupil (Line FY17 Aid & Levy) ** 2.14 FY18 Teacher Leadership Supplement Supplemental State Aid Amount Per Pupil = ** 2.15 FY18 Teacher Leadership Supplement Cost Per Pupil WEIGHTED ENROLLMENT ** Special Ed Weighting in Addition to ** Special Ed Weighting in Addition to ** Special Ed Weighting in Addition to 1.0 = 1, ** 3.4 Total Special Ed Weighting in Addition to ,981.6 * 3.5 Budget Enrollment (Line 1.1) = 15, ** 3.6 AEA Weighted Enrollment ** 3.7 AEA Supplementary Weight for Sharing = 15, ** 3.8 AEA Weighted Enrollment with AEA Supplementary Weight for Sharing *** 3.9 Supplementary Weighting - Sharing *** 3.10 Supplementary Weighting - At-Risk Formula ** 3.11 Supplementary Weighting - ELL *** 3.12 Supplementary Weighting - Reorganization Incentives = *** 3.13 Total Supplementary Weighting + 15, ** 3.14 AEA Weighted Enrollment (Line 3.6) = 15, *** 3.15 District Weighted Enrollment - 1, ** 3.16 Total Special Ed Weighting in Addition to 1.0 (Line 3.4) = 14, *** 3.17 District Weighted Enrollment without Special Ed Weightings REGULAR PROGRAM DISTRICT COST CALCULATIONS 6, FY18 Regular Program District Cost Per Pupil (Line 2.3) X 13,981.6 * 4.2 Budget Enrollment (Line 1.1) = 93,411, FY18 Regular Program District Cost without Adjustment 90,339, FY17 Regular Program District Cost (Line FY17 Aid & Levy) X 1.01 ** % Budget Adjustment = 91,242, % of FY16 Regular Program District Cost - 93,411, FY18 Regular Program District Cost without Adjustment (Line 4.3) = FY18 Regular Program Budget Adjustment (if negative, enter zero) 57

64 OTHER DISTRICT COST CALCULATIONS 6, FY18 Regular Program District Cost Per Pupil (Line 2.3) X *** 4.10 Total Supplementary Weighting (Line 3.13) = 2,546, District Cost for Supplementary Weighting 6, FY18 Regular Program District Cost Per Pupil (Line 2.3) X 1, ** 4.13 Total Special Ed Weighting in Addition to 1.0 (Line 3.4) = 8,830, Special Education Instruction District Cost ** 4.15 FY18 Teacher Salary Supplement District Cost Per Pupil (Line 2.6) X 13,981.6 * 4.16 Budget Enrollment (Line 1.1) = 7,718, Unadjusted Teacher Salary Supplement District Cost 7,461, FY17 Unadj Teacher Salary Suppl District Cost (Line FY17 Aid & Levy) - 7,718, Unadjusted Teacher Salary Supplement District Cost (Line 4.17) = Teacher Salary Supplement Budget Adjustment (if negative, enter zero) + 7,718, Unadjusted Teacher Salary Supplement District Cost (Line 4.17) = 7,718, Teacher Salary Supplement District Cost ** 4.23 FY18 Professional Development Supplement District Cost Per Pupil (Line 2.9) X 13,981.6 * 4.24 Budget Enrollment (Line 1.1) = 954, Unadjusted Professional Development Supplement District Cost 923, FY17 Unadjusted Prof Dev Suppl District Cost (Line FY17 Aid & Levy) - 954, Unadjusted Professional Development Supplement District Cost (Line 4.25) = Professional Development Supplement Budget Adjustment (if negative, enter zero) + 954, Unadjusted Professional Development Supplement District Cost (Line 4.25) = 954, Professional Development Supplement District Cost ** 4.31 FY18 Early Intervention Supplement District Cost Per Pupil (Line 2.12) X 13,981.6 * 4.32 Budget Enrollment (Line 1.1) = 978, Unadjusted Early Intervention Supplement District Cost 946, FY17 Unadj Early Intervention Suppl District Cost (Line FY17 Aid & Levy) - 978, Unadjusted Early Intervention Supplement District Cost (Line 4.33) = Early Intervention Supplement Budget Adjustment (if negative, enter zero) + 978, Unadjusted Early Intervention Supplement District Cost (Line 4.33) = 978, Early Intervention Supplement District Cost ** 4.39 FY18 Teacher Leadership Supplement District Cost Per Pupil (Line 2.16) X 13,981.6 * 4.40 Budget Enrollment (Line 1.1) = 4,519, Unadjusted Teacher Leadership Supplement District Cost 4,370, FY17 Unadj Teacher Leadership Suppl District Cost (Line FY17 Aid & Levy) - 4,519, Unadjusted Teacher Leadership Supplement District Cost (Line 4.41) = Teacher Leadership Supplement Budget Adjustment (if negative, enter zero) + 4,519, Unadjusted Teacher Leadership Supplement District Cost (Line 4.41) = 4,519, Teacher Leadership Supplement District Cost 58

65 AEA DISTRICT COST CALCULATIONS ** 4.47 AEA Special Ed Support Cost Per Pupil X 15, ** 4.48 AEA Weighted Enrollment (Line 3.6) = 4,468, AEA Special Ed Support District Cost without Adjustment 4,357, FY17 AEA Special Ed Support Dist Cost (Line FY17 Aid & Levy) FY17 AEA Special Ed Support Adjustment (Line FY17 Aid & Levy) = 4,357, FY17 Total AEA Special Ed Support District Cost - 4,468, AEA Special Ed Support District Cost without Adjustment (Line 4.49) = AEA Special Ed Support Adjustment (If negative, enter zero) 13,981.6 * 4.55 Budget Enrollment (Line 1.1) Resident Accredited Nonpublic Students * 4.57 Shared-Time Nonpublic Pupils Counted in Line 1.1 = 14, Total Enrollment Served - AEA Media and Ed Services X ** 4.59 FY18 AEA Media Cost Per Pupil = 815, AEA Media Services District Cost 14, Total Enrollment Served - AEA Media and Ed Services (Line 4.58) X ** 4.62 FY18 AEA Ed Services Cost Per Pupil = 896, AEA Ed Services District Cost 0.00 ** 4.64 AEA Supplementary Weight for Sharing (Line 3.7) X ** 4.65 AEA Special Ed Support Cost Per Pupil (Line 4.47) = AEA Sharing District Cost ** 4.67 FY18 AEA Teacher Salary Supplement District Cost Per Pupil X 15, ** 4.68 AEA Weighted Enrollment (Line 3.6) = 417, Unadjusted AEA Teacher Salary Supplement District Cost 407, FY17 Unadj AEA Teacher Salary Suppl District Cost (Line FY17 Aid & Levy) - 417, Unadjusted AEA Teacher Salary Supplement District Cost (Line 4.69) = AEA Teacher Salary Supplement Budget Adjustment (if negative, enter zero) + 417, Unadjusted AEA Teacher Salary Supplement District Cost (Line 4.69) = 417, AEA Teacher Salary Supplement District Cost 3.18 ** 4.75 FY18 Professional Development Supplement District Cost Per Pupil X 15, ** 4.76 AEA Weighted Enrollment (Line 3.6) = 48, Unadjusted AEA Professional Development Supplement District Cost 47, FY17 Unadj AEA Prof Dev Suppl District Cost (Line FY17 Aid & Levy) - 48, Unadjusted AEA Professional Development Supplement District Cost (Line 4.77) = AEA Professional Development Suppl Budget Adjustment (if negative, enter zero) + 48, Unadjusted AEA Professional Development Supplement District Cost (Line 4.77) = 48, AEA Professional Development Supplement District Cost COMBINED DISTRICT COST SUMMARY 93,411, Regular Program District Cost without Adjustment (Line 4.3) Regular Program Budget Adjustment Adopted (Line 4.8) + 2,546, District Cost for Supplementary Weighting (Line 4.11) + 8,830, Special Education Instruction District Cost (Line 4.14) + 7,718, Teacher Salary Supplement District Cost (Line 4.22) + 954, Professional Development Supplement District Cost (Line 4.30) + 978, Early Intervention Supplement District Cost (Line 4.38) + 4,519, Teacher Leadership Supplement District Cost (Line 4.46) + 4,468, AEA Special Ed Support District Cost without Adjustment (Line 4.49) AEA Special Ed Support Adjustment (Line 4.54) + 815, AEA Media Services District Cost (Line 4.60) + 896, AEA Ed Services District Cost (Line 4.63) AEA Sharing District Cost (Line 4.66) + 417, AEA Teacher Salary Supplement District Cost (Line 4.74) + 48, AEA Professional Development Supplement District Cost (Line 4.82) - 160, AEA Statewide State Aid Reduction + 4,619, FY18 SBRC Modified Supplemental Amount - Dropout + (646) 5.18 Enrollment Audit Adjustment (Line 1.4) = 130,065, Combined District Cost UNIFORM LEVY DOLLARS 5,691,337, Taxable Valuation with Gas & Electric Utilities (Enter on InputsResults tab) X Uniform Levy Rate = 30,733, Uniform Levy Dollars UNIFORM LEVY - UTILITY REPLACEMENT ADJUSTMENT 359, Uniform Levy Utility Replacement Paid FY17-369, UniformLevyUtilityReplacementBudgeted FY17 = (9,348) 6.6 Uniform Levy Utility Replacement Adjustment + 30,733, Uniform Levy Dollars Before Utility Repl and C&I Adjustments (Line 6.3) = 30,723, Uniform Levy Dollars Adjusted for Utility Replacement 59

66 UNIFORM LEVY - C&I STATE REPLACEMENT ADJUSTMENT 1,240,901, Commercial & Industrial 100% Valuation - 1,074,822, Commercial & Industrial Taxable Valuation (90% Rollback) = 166,079, Commercial & Industrial Valuation Reduction X Uniform Levy Rate (Line 6.2) = 896, Uniform Levy Commercial & Industrial State Replacement Estimate 822, Previous Year Uniform Levy C&I State Replacement Paid - 615, Previous Year Uniform Levy C&I State Replacement Budgeted (Line FY17 Aid & = 207, Previous Year Uniform Levy C&I State Replacement Paid Minus Budgeted + 896, Uniform Levy Commercial & Industrial State Replacement Est (Line 6.13) = 1,103, Total Uniform Levy C&I State Replacement Adjustment + 30,723, Uniform Levy Dollars Adjusted for Utility Replacement (Line 6.8) = 31,827, Uniform Levy Dollars Adjusted for Utility Replacement & C&I Adjustment STATE FOUNDATION AID 5, State Regular Program Foundation Cost Per Pupil X 14, *** 7.2 District Weighted Enrollment without Special Ed Weightings (Line 3.17) = 83,749, District Foundation Dollars without Special Ed 5, State Special Ed Program Foundation Cost Per Pupil X 1, ** 7.5 Total Special Ed Weighting in Addition to 1.0 (Line 3.4) = 7,706, District Special Ed Foundation Dollars State AEA Special Ed Support Foundation Cost Per Pupil X 15, ** 7.8 AEA Weighted Enrollment with AEA Supplementary Weight for Sharing (Line 3.8) = 3,535, AEA Foundation Dollars for Special Ed and Sharing + 417, AEA Teacher Salary Supplement District Cost (Line 4.74) + 48, AEA Professional Development Supplement District Cost (Line 4.82) = 4,001, Total AEA Foundation Dollars + 83,749, District Foundation Dollars without Special Ed (Line 7.3) + 7,706, District Special Ed Foundation Dollars (Line 7.6) + (564) 7.15 Enrollment Audit Adjustment - State Aid Portion (Line 1.7) + 7,718, Teacher Salary Supplement District Cost (Line 4.22) + 954, Professional Development Supplement District Cost (Line 4.30) + 978, Early Intervention Supplement District Cost (Line 4.38) + 4,519, Teacher Leadership Supplement District Cost (Line 4.46) = 109,628, Total Foundation Dollars - 31,827, Uniform Levy Dollars Adj for Utility Replacement & C&I Adjustment (Line 6.20) = 77,800, Unadjusted State Foundation Aid 15, *** 7.23 District Weighted Enrollment (Line 3.15) X $300 Minimum Aid Per Pupil = 4,705, Minimum Aid - 77,800, Unadjusted State Foundation Aid (Line 7.22) = Minimum Aid Adjustment (If Negative, Enter Zero) PRESCHOOL FOUNDATION AID * 7.28 Preschool Budget Enrollment (Actual Enrollment X 50%) X 6, FY18 Regular Program State Cost Per Pupil = 1,316, Preschool Foundation Aid Audited Change in October 2015 Preschool Budget Enrollment X 6, FY17 Regular Program State Cost Per Pupil = Preschool Enrollment Audit Adjustment + 1,316, Preschool Foundation Aid (Line 7.30) = 1,316, Total Preschool Foundation Aid ADDITIONAL DOLLAR LEVY 130,065, Combined District Cost (Line 5.19) - 109,628, Total Foundation Dollars (Line 7.20) Minimum Aid Adjustment (Line 7.27) = 20,436, Additional Dollar Levy PROPERTY TAX ADJUSTMENT AID 5,691,337, Taxable Valuation with Gas & Electric Utilities (Line 6.1) - 5,462,098, Taxable Valuation with Gas & Electric Utilities (Line FY17 Aid & Levy) = 229,239, Dollar Increase in Taxable Valuation (If negative, enter zero) / 5,462,098, Taxable Valuation with Gas & Electric Utilities (Line 8.6) = Increase in Taxable Valuation (to 4 Decimals) X FY17 Property Tax Adjustment Aid (Line FY17 Aid & Levy) = Reduction in Property Tax Adjustment Aid FY17 Property Tax Adjustment Aid (Line 8.10) Reduction in Property Tax Adjustment Aid (Line 8.11) = FY18 Property Tax Adjustment Aid 60

67 PROPERTY TAX REPLACEMENT PAYMENT (PTRP) FY17 Property Tax Portion of State Cost Per Pupil Base Property Tax Portion of State Cost Per Pupil = Property Tax Replacement Amount Per Pupil X 15, *** 8.18 District Weighted Enrollment (Line 3.15) = 1,160, Property Tax Replacement Payment (PTRP) ADJUSTED ADDITIONAL PROPERTY TAX LEVY AID 15, *** 8.20 District Weighted Enrollment (Line 3.15) X 6, FY18 Regular Program State Cost Per Pupil X 12.50% ** 8.22 Property Tax Portion of State Cost Per Pupil = 13,065, Adjusted Additional Property Tax Dollar Levy - 1,160, Property Tax Replacement Payment (PTRP) (Line 8.19) = 11,904, Adjusted Additional Property Tax Dollar Levy less PTRP / 5,691,337, Taxable Valuation with Gas & Electric Utilities (Line 6.1) = Adjusted Additional Property Tax Levy Rate Statewide Maximum Adjusted Additional Property Tax Levy Rate = Adjusted Additional Property Tax Levy Rate Reduction (if negative, enter zero) X 5,691,337, Taxable Valuation with Gas & Electric Utilities (Line 6.1) = FY18 Adjusted Additional Property Tax Levy Aid PROPERTY TAX EQUITY AND RELIEF (PTER) FUNDING 6, FY18 Regular Program State Cost Per Pupil X 0.00% ** 8.33 Increase in State Foundation Cost Per Pupil Percentage = Increase in Foundation Cost Per Pupil X 15, *** 8.35 District Weighted Enrollment (Line 3.15) = Additional District Foundation Dollars from Property Tax Equity and Relief Fund ADDITIONAL LEVY BEFORE UTILITY REPLACEMENT ADJUSTMENT 20,436, Additional Dollar Levy (Line 8.4) Property Tax Adjustment Aid (Line 8.14) FY16 District Special Ed Positive Balance, Property & Utility Repl Tax Portion FY16 AEA Special Ed Reduction, Property & Utility Replacement Tax Portion + 160, AEA Statewide State Aid Reduction (Line 5.16) - 1,160, Property Tax Replacement Payment (PTRP) (Line 8.19) Adjusted Additional Property Tax Levy Aid (Line 8.31) Additional District Foundation Dollars from PTER Fund (Line 8.36) = 19,436, Additional Levy before Utility Replacement Adjustment FINAL STATE FOUNDATION AID 77,800, Unadjusted State Foundation Aid (Line 7.22) Minimum Aid Adjustment (Line 7.27) Property Tax Adjustment Aid (Line 8.14) FY16 District Special Ed Positive Balance, Property & Util Repl Portion (Line 8.39) FY16 Special Ed Reduction, Property & Utility Repl Tax Portion (Line 8.40) - 160, AEA Statewide State Aid Reduction (Line 5.16) + 1,160, Property Tax Replacement Payment (PTRP) (Line 8.19) Adjusted Additional Property Tax Levy Aid (Line 8.31) Additional District Foundation Dollars from PTER Fund (Line 8.36) Adjustment for Property Tax Repayment due to Property Assessment Appeal + 1,316, Total Preschool Foundation Aid (Line 7.35) = 80,117, State Foundation Aid 61

68 INSTRUCTIONAL SUPPORT PROGRAM 93,411, FY18 Regular Program District Cost without Adjustment (Line 4.3) Regular Program Budget Adjustment Adopted (Line 4.8) = 93,411, Total Regular Program District Cost X Maximum Portion (Can't exceed.1000) = 9,341, Unadjusted Instructional Support Program Dollars 5,691,337, Taxable Valuation with Gas & Electric Utilities (Line 6.1) / 13,981.6 * 10.7 Budget Enrollment (Line 1.1) = 407, District Taxable Valuation Per Pupil 330, State Taxable Valuation Per Pupil / 407, District Taxable Valuation Per Pupil (Line 10.8) X.25 ** = State Aid Portion of Program Dollars (Round to 4 Decimals) X 9,341, Unadjusted Instructional Support Program Dollars (Line 10.5) = 1,893, Unadjusted Instructional Support State Aid.05 ** Instructional Support Income Surtax Rate X 136,325, District Income Tax Paid in 2015 = 6,816, Instructional Support Income Surtax Dollars 9,341, Unadjusted Instructional Support Program Dollars (Line 10.5) - 1,893, Unadjusted Instructional Support State Aid (Line 10.14) - 6,816, Instructional Support Income Surtax Dollars (Line 10.17) = 631, Instructional Support Property & Utility Replacement Tax Dollars 1,893, Unadjusted Instructional Support State Aid (Line 10.14) X Prorata Reduction to State Appropriation Amount = 321, Adjusted Instructional Support State Aid + 6,816, Instructional Support Income Surtax Dollars (Line 10.17) + 631, Instructional Support Property & Utility Replacement Tax Dollars (Line 10.21) = 7,769, Adjusted Instructional Support Program Dollars EDUCATIONAL IMPROVEMENT PROGRAM 93,411, FY18 Total Regular Program District Cost (Line 10.3) X Voted Maximum Portion = Educational Improvement Program Total Dollars.00 ** 11.4 Ed Improvement Income Surtax Rate X 136,325, District Income Tax Paid in 2014 (Line 10.16) = Ed Improvement Income Surtax Dollars Educational Improvement Program Total Dollars (Line 11.3) Ed Improvement Income Surtax Dollars (Line 11.6) = Ed Improvement Property & Utility Replacement Tax Dollars SECTION 12 IS INTENTIONALLY BLANK ADDITIONAL LEVY - UTILITY REPLACEMENT ADJUSTMENT 223, Additional Levy Utility Replacement Paid FY17-229, AdditionalLevyUtilityReplacementBudgeted FY17 = (5,807) 13.3 Additional Levy Utility Replacement Adjustment 19,436, Additional Levy before Utility Replacement Adjustment (Line 8.45) - (5,807) 13.5 Additional Levy Utility Replacement Adjustment (Line 13.3) = 19,441, Additional Levy Adjusted for Utility Replacement (9,348) 13.7 Uniform Levy Utility Replacement Adjustment (Line 6.6) + (5,807) 13.8 Additional Levy Utility Replacement Adjustment (Line 13.3) = (15,155) 13.9 Total Utility Replacement Adjustment ADDITIONAL LEVY - C&I STATE REPLACEMENT ADJUSTMENT 19,441, Additional Levy Adjusted for Utility Replacement (Line 13.6) / 5,691,337, Taxable Valuation with Gas & Electric Utilities (Line 6.1) = Additional Tax Rate Adjusted for Utility Replacement X 166,079, Commercial & Industrial Valuation Reduction (Line 6.11) = 567, Additional Levy Commercial & Industrial State Replacement Estimate 511, Previous Year Additional Levy C&I State Replacement Paid - 392, Previous Year Additional Levy C&I State Replacement Budgeted (Line FY17 A& = 118, Previous Year Additional Levy C&I State Replacement Paid Minus Budgeted + 567, Additional Levy Commercial & Industrial State Replacement Est (Line 13.14) = 685, Total Additional Levy C&I State Replacement Adjustment 19,441, Additional Levy Adjusted for Utility Replacement (Line 13.6) - 685, Total Additional Levy C&I State Replacement Adjustment (Line 13.19) = 18,756, Additional Levy Adjusted for Utility Replacement & C&I State Replacement 1,103, Total Uniform Levy C&I State Replacement Adjustment (Line 6.18) + 685, Total Additional Levy C&I State Replacement Adjustment (Line 13.19) = 1,789, Total C&I State Replacement Adjustment 62

69 SECTION 14 IS INTENTIONALLY BLANK SUMMARY OF GENERAL FUND LEVIES 30,733, Uniform Levy Dollars before Utility Repl and C&I State Repl Adj (Line 6.3) + 18,756, Additional Levy Dollars Adjusted for Utility Repl & C&I State Repl (Line 13.22) = 49,489, Total Levy to Fund Combined District Cost + 631, Instructional Support Levy (Line 10.21) Ed Improvement Levy (Line 11.9) 15.6 This Line is Intentionally Blank 15.7 This Line is Intentionally Blank = 50,120, Levy to Fund Budget Authority + 8,000, Cash Reserve Levy - SBRC + 4,500, Cash Reserve Levy - Other Use of Fund Balance to Reduce Levy = 62,620, Total General Fund Levy - 631, Instructional Support Levy (Line 10.21) = 61,989, Subtotal General Fund Levy without Instructional Support / 5,691,337, Taxable Valuation with Gas & Electric Utilities (Line 6.1) = Subtotal General Fund Levy Rate 631, Instructional Support Levy (Line 10.21) / 6,229,388, Taxable and TIF Valuations with Gas & Electric = Instructional Support Levy Rate Subtotal General Fund Levy Rate (Line 15.16) = Total General Fund Levy Rate STATE PAYMENTS TO AEA AND DISTRICT 4,468, AEA Special Ed Support District Cost without Adjustment (Line 4.49) AEA Special Ed Support Adjustment (Line 4.54) + 815, AEA Media Services District Cost (Line 4.60) + 896, AEA Ed Services District Cost (Line 4.63) AEA Sharing District Cost (Line 4.66) + 417, AEA Teacher Salary Supplement District Cost (Line 4.74) + 48, AEA Professional Development Supplement District Cost (Line 4.82) - 160, AEA Statewide State Aid Reduction (Line 5.16) = 6,487, State Payments to AEA 80,117, State Foundation Aid (Line 9.12) - 6,487, State Payments to AEA (Line 16.9) = 73,630, State Payments to District SUMMARY OF GENERAL FUND BUDGET AUTHORITY + 130,065, Combined District Cost (Line 5.19) + 10,149, Estimated FY17 Unspent Budget Authority Allowance for Construction Project by SBRC + 7,769, Adjusted Instructional Support Program Dollars (Line 10.27) Ed Improvement Program (Line 11.3) + 1,316, Total Preschool Foundation Aid (Line 7.35) 17.7 This Line is Intentionally Blank + 10,099, Estimated FY18 Other Miscellaneous Income = 159,399, Estimated Total Maximum General Fund Budget Authority SUMMARY OF FINANCING FOR GENERAL FUND MAXIMUM BUDGET 10,149, Estimated FY17 Unspent Budget Authority (Line 17.2) Allowance for Construction Project by SBRC (Line 17.3) + 50,120, Levy to Fund Budget Authority (Line 15.8) + 80,117, State Foundation Aid (Line 9.12) + 321, Adjusted Instructional Support State Aid (Line 10.24) + 6,816, Instructional Support Income Surtax Dollars (Line 10.25) Ed Improvement Income Surtax Dollars (Line 11.6) + 1,789, Total C&I State Replacement Adjustment (Line 13.25) + (15,155) 18.9 Total Utility Replacement Adjustment (Line 13.9) + 10,099, Estimated FY18 Other Miscellaneous Income (Line 17.8) = 159,399, Estimated Financing for Total General Fund Maximum Budget VOTED PHYSICAL PLANT & EQUIPMENT (VPPEL) 6,229,388, Taxable and TIF Valuations with Gas & Electric (Line 15.18) X Voted PPEL Rate Limit = 8,347, Maximum Voted PPEL Dollars (Enter loan agreements on Line 1, Form 703).00 ** 19.4 Voted PPEL Income Surtax Rate X 136,325, District Income Tax Paid in 2015 (Line 10.16) = Voted PPEL Income Surtax Dollars 8,347, Maximum Voted PPEL Dollars (Line 19.3) Voted PPEL Income Surtax Dollars (Line 19.6) = 8,347, Voted PPEL Levy 63

70 ALL INCOME SURTAX RATES & GENERAL FUND SURTAX DOLLARS.05 ** 20.1 Instructional Support Income Surtax Rate (Line 10.15) +.00 ** 20.2 Ed Improvement Income Surtax Rate (Line 11.4) 20.3 This Line is Intentionally Blank 20.4 This Line is Intentionally Blank +.00 ** 20.5 Voted PPEL Income Surtax Rate (Line 19.4) =.05 ** 20.6 Total Income Surtax Rate (cannot exceed.20) 6,816, Instructional Support Income Surtax Dollars (Line 10.25) Ed Improvement Income Surtax Dollars (Line 11.6) 20.9 This Line is Intentionally Blank This Line is Intentionally Blank = 6,816, Total General Fund Income Surtax Dollars OTHER PROPERTY & UTILITY REPLACEMENT TAXES 4,500, Management Amana Library 2,055, Regular Physical Plant & Equipment Reorganization Equalization Levy Emergency Levy (for Disaster Recovery) Public Education and Recreation 3,293, Debt Service (Complete Form 703) 64

71 Special Education 65

72 Level I Students Formula: Level 1 Full and Part Time (.72) Information and Computation: Budget Student Std Change Certified % Std. Pop. Std. Pop. Year Head Count Prior Year Budget Enr. (Column 2/4) Change , % , % 0.20% (1) 13, % -0.09% (67) 13, % -0.64% (35) 13, % -0.37% Level I Special Education Students as a Percent of Total Student Population 7.00% 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% 0.00% Trend: Down Target: Stable as a percent of student population Observation: Level I student numbers as a percentage of total student population continue to decline. 66 U:\STAFF\ESC\Business\Budget Booklets\Cert1718Booklet\Booklet Files_orginal\13 Special Education WorkBook_2_10_17 LV I,II,III

73 Level II Students Formula: Level 2 Full (1.21) and Part Time (.72) Information and Computation: Budget Student Std Change Certified % Std. Pop. Std. Pop. Year Head Count Prior Year Budget Enr. (Column 2/4) Change , % (38) 13, % -0.38% (51) 13, % -0.42% (78) 13, % -0.63% (30) 13, % -0.25% Level II Special Education Students as a Percent of Total Student Population 3.50% 3.00% 2.50% 2.00% 1.50% 1.00% 0.50% 0.00% Trend: Down Target: Stable as a percent of student population Observation: Level II student numbers as a percentage of total student population continue to decline 67 U:\STAFF\ESC\Business\Budget Booklets\Cert1718Booklet\Booklet Files_orginal\13 Special Education WorkBook_2_10_17 LV I,II,III

74 Level III Students Formula: Level 3 Full (2.74) and Part Time (1.37) Information and Computation: Budget Student Std Change Certified % Std. Pop. Std. Pop. Year Head Count Prior Year Budget Enr. (Column 2/4) Change , % (30) 13, % -0.27% (55) 13, % -0.43% , % 0.72% (35) 13, % -0.29% Level III Special Education Students as a Percent of Total Student Population 1.80% 1.60% 1.40% 1.20% 1.00% 0.80% 0.60% 0.40% 0.20% 0.00% Trend: Down Target: Stable as a percent of student population Observation: Level III student numbers as a percentage of total student population decreased slightly this year. 68 U:\STAFF\ESC\Business\Budget Booklets\Cert1718Booklet\Booklet Files_orginal\13 Special Education WorkBook_2_10_17 LV I,II,III

75 Total Special Education Program Information and Computation: Budget Total Total Certified % Std. Pop. Program Year Head Count Weighting Budget Enr. (Column 2/4) Deficit ,385 1, , % ($5,131,973) ,366 1, , % ($5,650,359) ,259 1, , % ($5,638,727) ,213 1, , % na ,174 1, , % na 12.00% Special Education Students as a Percent of Total Student Population 10.00% 8.00% 6.00% 4.00% 2.00% 0.00% Trend: Down Target: Stable as a percent of student population Observation: The Special Education student population as a percentage of the general student population continues a overall downward trend. 69 U:\STAFF\ESC\Business\Budget Booklets\Cert1718Booklet\Booklet Files_orginal\13 Special Education WorkBook_2_10_17 LV I,II,III

76 Special Education Revenue / Expenditure History Certified Annual Report June 30 xxxx Revenue Expenditure Deficit / Surplus 2007 $16,293,332 $18,036,249 ($1,742,917) 2008 $17,219,778 $19,830,963 ($2,611,185) 2009 $19,519,204 $21,946,689 ($2,427,485) 2010 $23,282,719 $24,776,653 ($1,493,934) 2011 $24,289,419 $25,215,611 ($926,192) 2012 $22,512,005 $25,178,858 ($2,666,853) 2013 $23,222,150 $26,713,968 ($3,491,818) 2014 $23,057,087 $28,189,060 ($5,131,973) 2015 $22,868,340 $28,518,699 ($5,650,359) 2016 $20,845,292 $26,484,018 ($5,638,727) $35,000,000 Revenue Expenditure Deficit / Surplus $30,000,000 $25,000,000 $20,000,000 $15,000,000 $10,000,000 $5,000,000 $0 ($5,000,000) ($10,000,000) U:\STAFF\ESC\Business\Budget Booklets\Cert1718Booklet\Booklet Files_orginal\13 Special Education WorkBook_2_10_17 Historical Cost

77 Iowa City Community School District Special Education Historical Comparison Year Certified Resident Additional Percent of Student Percent Program Number of Average Number of Average Enrollment Students Weighting Enrollment Change Change Surplus/(Deficit) Teachers Pupils / Class Associates Pupils / Asso. FY05 10, ,485 1, % % ($1,469,031) FY06 10, ,509 1, % % ($1,050,411) FY07 11, ,552 1, % % ($1,742,917) FY08 11, ,549 1, % (3) -0.19% ($2,611,185) FY09 11, ,609 1, % % ($2,427,485) FY10 11, ,558 1, % (51) -3.17% ($1,493,934) FY11 11, ,337 1, % (221) % ($926,192) FY12 12, ,297 1, % (40) -2.99% ($2,666,853) FY13 12, ,308 1, % % ($3,491,818) FY14 12, ,385 1, % % ($5,131,973) FY15 13, ,366 1, % (19) -1.37% ($5,650,359) FY16 13, ,259 1, % (107) -7.83% ($5,638,727) FY17 13, ,213 1, % (46) -3.65% na FY18* 13, ,174 1, % (39) -3.22% na Average 12, ,400 1, % (18) -1.24% (2,605,650.7) * Estimated 71 U:\STAFF\ESC\Business\Budget Booklets\Cert1718Booklet\Booklet Files_orginal\13 Special Education WorkBook_2_10_17 Sp. Costs

78 Special Education Program State Formula Revenue Calculations by Program Levels Description Level I Preschool Level I K Total Level I Enrollment Additional Weightings Level II Preschool - Part Time Level II K-12 - Part Time Subtotal Part Time Level II Preschool - Full Time Level II K-12 - Full Time Subtotal Full Time Total Level II Enrollment Additional Weightings Level III Preschool - Part Time Level III K-12 - Part Time Subtotal Part Time Level III Preschool - Full Time Level III K-12 - Full Time Subtotal Full Time Total Level III Enrollment Additional Weightings Total All Levels Total Preschool Total K Total Additional Weightings RPDCP $6,383 $6,463 $6,608 $6, Retained in Sp. Education Level I $628,853 $635,959 $596,306 $575,635 Level II $1,623,325 $1,419,533 $1,082,919 $1,185,744 Level III $796,790 $547,287 $1,061,245 $951,040 Total 1.0 Retained in Sp. Ed. $3,048,968 $2,602,779 $2,740,470 $2,712, Returned to General Fund Level I $4,611,590 $4,663,701 $4,372,910 $4,221,323 Level II $763,917 $668,016 $509,609 $557,997 Level III $294,703 $202,421 $392,515 $351,755 Total 1.0 Returned to G.F. $5,670,210 $5,534,138 $5,275,034 $5,131,075 Total 1.0 Funding $8,719,178 $8,136,917 $8,015,504 $7,843,494 Additional Weighting by level Level I $3,773,119 $3,815,755 $3,577,836 $3,453,810 Level II $2,735,371 $2,374,700 $1,839,733 $1,925,531 Level III $2,981,946 $2,054,200 $3,956,144 $3,450,670 Total additional Weighting $9,490,436 $8,244,655 $9,373,712 $8,830,010 General Program Revenue $5,670,210 $5,534,138 $5,275,034 $5,131,075 Sp. Ed. Program Revenue $12,539,404 $10,847,435 $12,114,182 $11,542,430 Total Sp. Ed. Program Revenue $18,209,614 16,381,572 17,389,216 16,673,504 (715,712) 72 U:\STAFF\ESC\Business\Budget Booklets\Cert1718Booklet\Booklet Files_orginal\13 Special Education WorkBook_2_10_17 Rev by Levels

79 Presentation 73

80 74

81 Student Enrollment Growth Budget Year Std. Enr. Change Series

82 Certified Enrollment Trends Student Budget Enrollment 15,500 15,000 14,500 14,000 13,500 13,000 12,500 12,000 11,500 Projected ,774 13,160 13,328 13,671 13,982 14,214 14,450 14,678 14,870 15,076 76

83 Open Enrollment Trends Students This difference is a net tuition expenditure of $2.353, In Out Enrollment Date as of October 1 in Fiscal Year 77

84 Special Education Enrollment Total Student Population 16.0% 15.0% 14.0% 13.0% 12.0% 11.0% 10.0% 9.0% 8.0% Sp. Ed. 13.8% 13.7% 13.3% 12.6% 10.8% 11.4% 10.8% 10.4% 9.5% 8.9% Graph shows special education student enrollment as a percentage of the total student certified enrollment for budget year. 78

85 Allowable Growth History Percent State Cost Fiscal Year Growth Per Pupil % $5, % $5, % $5, % $6, % $6, % $6, % $6, % $6, % $6,664 79

86 Comparison of State Supplemental Assistance (SSA) and District Budget Growth 8.52% 7.45% 6.39% 5.32% 4.26% 3.19% 2.13% 1.06% 0.00% FY 13 FY 14 FY 15 FY 16 FY17 FY18 District 5.70% 4.62% 7.13% 2.55% 5.08% 3.40% State 2.00% 2.00% 4.00% 1.25% 2.25% 1.11% State Percent of Growth for FY is 1.11%. 80

87 Property Tax Valuation Trends $7,000 $6,000 ($Millions) $5,000 $4,000 $3,000 $2,000 $1,000 $0 FY 09 FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 FY 17 FY 18 Total $3,833 $4,074 $4,281 $4,442 $4,663 $4,795 $4,994 $5,114 $5,979 $6,229 T.I.F. $439 $399 $362 $364 $348 $406 $477 $487 $516 $ Year Average Annual Growth 4.5% 81

88 State Aid Formula Per Pupil Cost = $6,664 ICCSD Per Pupil Cost = $6,681 Fiscal Year % Funding Level $750 $750 $83 $4,049 $3,648 $1,782 $2,198 State ICCSD Uniform Levy State Aid PTRP Additional Levy 82

89 Property Tax Levy Trends & Projections The projected rates from FY2019 through FY2024 include an anticipated debt levy increase should the September 12, 2017 bond referendum pass. 83

90 Tax Levy Comparability 3-Smaller / 3-Larger School Districts Fiscal Year $20.00 $18.00 $16.00 $14.00 $12.00 $10.00 $8.00 $6.00 $4.00 $2.00 $0.00 Dubuque Ankeny Waterloo Iowa City Sioux City Davenport Cedar Rapids Levy rate/$1,000 $14.98 $19.36 $15.40 $13.99 $15.48 $15.37 $

91 Iowa City Community Schools Total Proposed Tax Levy Control Graph Budget Voter Controlled Bond Debt / Voted Physical Plant & Equipment Levy 30% Board Controlled Cash Reserve / PPEL / At Risk / Management / ISL 56% 14% State Controlled School Foundation Formula Total Property Tax = $80,817,205 85

92 Proposed Levy Details FY Levy Detail Comparison % State Percent of Growth Fiscal Year Change Change Amounts Levies General Fund: $ 60,238,731 $ 62,620,777 $ 2,382,046 $ $ $( ) At Risk / Dropout Prevention $ 4,417,848 $ 4,619,521 $ 201,673 $ $ $ Instructional Support $ 422,599 $ 631,377 $ 208,778 $ $ $ Cash Res. - Special Education Deficit $ 5,638,727 $ 5,273,105 $ (365,622) $ $ $ ( ) Cash Res. - Advanced Inc. in Enroll. $ 2,051,123 $ 1,752,865 $ (298,258) $ $ $ ( ) Cash Res. - For Cash Flow Purposes $ 4,310,150 $ 5,474,030 $ 1,163,880 $ $ $ School Aid Formula $ 43,398,284 $ 44,869,879 $ 1,471,595 $ $ $ ( ) Management Fund: $ 4,082,152 $ 4,500,000 $ 417,848 $ $ $ Property & Liability Insurance $ 1,904,680 $ 2,000,000 $ 95,320 $ $ $ Unemployment / positive cash position $ 82,152 $ 700,000 $ 617,848 $ $ $ Early Retirement $ 2,095,320 $ 1,800,000 $ (295,320) $ $ $ ( ) Physical Plant and Equipment $ 9,984,079 $ 10,403,078 $ 418,999 $ $ $ - Regular ($0.33) $ 1,972,902 $ 2,055,698 $ 82,796 $ $ $ - Voted ($1.34) $ 8,011,177 $ 8,347,380 $ 336,203 $ $ $ - Debt Service $ 3,289,200 $ 3,293,350 $ 4,150 $ $ $( ) Totals $ 77,594,162 $ 80,817,205 $ 3,223,043 $ $ $( ) 86

93 Residential Property Tax Impact Actual Estimate Annual Monthly FY2017 FY2018 $Inc./(Dec.) $Inc./(Dec.) Total Tax 1.11% SSA $ $ $ ( ) Residential Property Taxes: Property Roll Back Factor % Taxable Value $ 200,000 $ 200,000 Roll Back (RB) Value $ 111,252 $ 113,878 Homestead Credit (HC) Value $ (4,850) $ (4,850) School Taxes on RB Value $ 1,556 $ 1,592 School Taxes on HC Value $ (68) $ (68) Total Net School Taxes $ 1,488 $ 1,524 $ $

94 Commercial Property Tax Impact Actual Estimate Annual Monthly FY2017 FY2018 $Inc./(Dec.) $Inc./(Dec.) Total Tax 1.11% SSA $ $ $ ( ) Commercial Property Taxes: Property Roll Back Factor $ $ Commercial Example 100% Taxable Value $ 500,000 $ 500,000 Final Taxable Value $ 450,000 $ 450,000 School Taxes $ 6,295 $ 6,292 $ (3.04) $ (0.25) 88

95 General Fund Proposed Budget Revenues Fiscal Year Total Revenues $161,851,139 89

96 General Fund Proposed Budget Expenditures Fiscal Year Per Pupil = $11,413 90