Central Dauphin School District Budget Presenta<on #6/7. February 23, 2015

Transcription

1 Central Dauphin School District Budget Presenta<on #6/7 February 23, 2015

2 Summary of Indebtedness

3 CENTRAL DAUPHIN SCHOOL DISTRICT SUMMARY OF OUTSTANDING INDEBTEDNESS A Debt Service Requirements Fiscal Dauphin County Dauphin County G.O. Notes G.O. Bonds G.O. Bonds G.O. Bonds G.O. Bonds G.O. Notes Total Year Vo - Tech Vo - Tech Series of Series A of Series of Series of Series of Series of Debt Ended Series of 2007 Series of Service 6/30/ ,885 23,510 3,701,500 2,752, ,691 2,487,050 4,313, ,628 14,937,016 6/30/ ,468 3,692,300 7,240, ,691 2,498, ,610 15,200,547 6/30/ ,320 3,687,900 8,045,378 1,101, ,600 2,014,575 15,951,464 6/30/ ,235 3,688,100 8,043,503 1,102,004 2,846,175 16,475,016 6/30/ ,291 3,687,700 8,043,878 1,099,629 2,843,800 16,471,297 6/30/ ,718 3,691,700 1,724,603 1,100,610 8,837,300 16,151,931 6/30/ ,129 5,449,900 1,722,990 1,102,410 3,370,400 12,441,829 6/30/ ,318 8,467,100 1,722,593 1,098, ,400 12,538,721 6/30/ ,421 8,468,600 1,723,858 1,100, ,900 12,542,751 6/30/ ,014 8,949,300 1,721,989 1,101,210 12,567,513 6/30/ ,626 8,947,150 1,726,335 11,471,111 6/30/ ,253 10,642,400 11,438,653 6/30/ ,810 10,643,100 11,440,910 6/30/ ,377 10,641,475 11,436,852 6/30/ ,187 10,641,850 11,438,037 6/30/ ,766 10,643,325 11,439,091 6/30/ , ,265 6/30/2032 6/30/2033 6/30/2034 6/30/2035 TOTAL 603,885 11,890, ,643,400 44,467,879 9,676,219 5,679,375 4,313,750 22,463, ,739,003

4 Local Effort Requirements Fiscal Dauphin County Dauphin County G.O. Notes G.O. Bonds G.O. Bonds G.O. Bonds G.O. Bonds G.O. Notes Total Year Vo - Tech Vo - Tech Series of Series A of Series of Series of Series of Series of Local Ended Series of 2007 Series of Effort 6/30/ ,623 16,843 3,342,996 2,424, ,691 2,206,371 3,947, ,569 13,361,087 6/30/ ,569 3,334,687 6,379, ,691 2,216, ,553 13,545,291 6/30/ ,521 3,330,713 7,087,932 1,101, ,323 1,854,862 14,283,042 6/30/ ,706 3,330,894 7,086,280 1,102,004 2,620,533 14,709,418 6/30/ ,463 3,330,533 7,086,611 1,099,629 2,618,347 14,705,582 6/30/ ,485 3,334,145 1,519,365 1,100,610 8,136,689 14,662,295 6/30/ ,346 4,922,057 1,517,944 1,102,410 3,103,199 11,215,957 6/30/ ,050 7,647,030 1,517,594 1,098, ,217 11,252,201 6/30/ ,839 7,648,385 1,518,709 1,100, ,915 11,255,821 6/30/ ,548 8,082,527 1,517,062 1,101,210 11,270,348 6/30/ ,419 8,080,586 1,520,891 10,172,896 6/30/ ,436 9,611,644 10,182,080 6/30/ ,551 9,612,277 10,183,827 6/30/ ,808 9,610,809 10,180,617 6/30/ ,388 9,611,148 10,181,536 6/30/ ,087 9,612,480 10,182,567 6/30/ , ,445 6/30/2032 6/30/2033 6/30/2034 6/30/2035 TOTAL 432,623 8,518, ,442,911 39,175,950 9,676,219 5,038,422 3,947,495 20,682, ,915,008 Principal *: 0 9,007,801 74,510,000 36,135,000 8,085,000 3,115, ,110, ,962,801 PE%: 56.72% 56.72% 27.72% 34.06% 0.00% 32.30% 24.30% 22.69% PE% Status: Estimated Estimated Permanent Estimated Estimated Permanent Permanent Permanent AR ( ): 50.00% 50.00% 34.94% 34.94% 34.94% 34.94% 34.94% 34.94% Call Date: 3/15/2015 3/15/2024 8/1/ /15/2016 2/1/2016 Non Callable Non Callable Non Callable Purpose: New Money Cur Ref 2007 Adv Ref 2006 Adv Ref 1998AA, 2002AA Cur Ref BAN Cur Ref 2003 Notes Cur Ref 2005 Bonds Cur Ref 2004 Adv Ref 2009, 2010 Swaps: Basis Swap * Outstanding as of February 9, 2015

5 Gross Wages

6 History of Gross Wages 75,000,000 72,000,000 69,000,000 66,000,000 63,000,000

7 Gross Wages Payroll Type Administra<ve Teachers Paraprofessional Secretarial Custodial/Maintenance Extra- curricular/other Total Qty Wages 85 $ 5,740, ,171, ,289, ,243, ,648,709 2,586,008 1,291 $ 72,680,176

8 Subs<tute Teachers Budget reclassifica<on Salary account $1,060,061 Related payroll taxes PSERS Health care (if applicable) Contracted services Daily rate plus overhead

9 5 Year Model

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13 Dauphin County Technical School

14 Dauphin County Technical School Harrisburg School District approached to become a member district

15 Dauphin County Technical School Central Dauphin School Board needs to consider the following: Does the Board wish to consider the admission of new member districts? Does the Board agree to allow DCTS to hire Public Financial Management to conduct an independent financial evalua<on?

16 Dauphin County Technical School Barriers to Entry Ar<cles of Agreement Member Contribu<on Calcula<on Debt Service Contribu<on Approaches to a Business Valua<on Earnings Method Discounted Cash Flow Net Asset Valua<on

17 Dauphin County Technical School

18 Dauphin County Technical School Ar<cles of Agreement - Ar<cle 9 All other costs and current expense for full- <me pupils, except pupil transporta<on costs, shall be shared by the member school district in propor<on to the average daily membership of students aaending the school from each member district based on the average of the five local audited years immediately preceding the school year of budget prepara<on and in accordance with the following schedule: Fiscal Year Audited Year(s) Basis , , , , , , , , Each year thereaber Previous five audited years [ (added for clarifica=on) , , , , ] Pupil transporta<on costs shall be the responsibility of each member school districts.

19 Dauphin County Technical School $19,005,000 outstanding principal on debt $15,487,259 annual budget Total Local Revenue $13,711,836 Member revenue $9,964,384 Non- member revenue $3,373,758 Total State Revenue $ 1,775,423

20 Dauphin County Technical School Budget CDSD $ 5,765,920 DTSD 456,082 HASD 392,130 LDSD 1,129,285 MASD 1,108,943 STSD 1,112,024 $ 9,964, (P) % Chg $ 5,859, % 446, % 401, % 1,133, % 1,132, % 1,125, % 10,098, %

21 Dauphin County Technical School January School % Mbr Central Dauphin 57.87% Derry Township 4.58% Halifax 3.94% Lower Dauphin 11.33% Middletown 11.13% Susquehanna Twp 11.15% Harrisburg (non- member) Other (non- member) Enrollment Students %DCTS %Home % 14.03% % 2.33% % 10.73% % 7.45% % 12.96% % 8.24% % 21.98% % 958

22 Dauphin County Technical School Members $12, tui<on $1, debt $12, tui<on 6% increase $1, debt

23 Dauphin County Technical School Members $12, tui<on $1, debt $12, tui<on 6% increase $1, debt Non- Member $18, tui<on ($3,873.30) tui<on freeze $14, actual tui<on $1, debt $1,658,643 / Approved by JOC Feb 2008 Annual debt $1,715, yr avg. enrollment $20, tui<on ($5,872.77) tui<on freeze $14, actual tui<on $1, debt

24 Dauphin County Technical School Harrisburg enrollment 242 students as of January 2015 Other non- member enrollment 23 students as of January 2015 Budget of DCTS 205 non- member students for the budget ( )actual 205 projected = 60 un- budgeted revenue Guaranteed overpayment 60 students x $16, = $987,442 $987,441 x 57.87% CDSD s share = $571,432

25 Dauphin County Technical School Ar<cles of Agreement - Ar<cle 10 Each of the member school districts shall pay to the treasurer of the Joint Board, or to such agent as may be designated by the Joint Board its propor<onate share of the costs of capital outlay and other costs at such <mes and in such amounts as shall be established by the Joint Opera<ng Commiaee. The Joint Opera<ng Commiaee, on or before June 30 th of each year, shall establish the <mes and amounts of payments to be made during the ensuing fiscal year by reference to the es<mated budget figures (which <me and payments shall be structured equitably through the course of the fiscal year); however, necessary adjustments shall be made at the end of the school year so that each member district will be obligated only for its pro- rata share. [emphasis added]

26 Next Steps Benecon RFP Results 2/19/2015 Governor s Budget Presenta<on 3/3/2015 Pension Reform Public Educa<on Funding Healthcare Final Renewal 3/12/2015 Mowing/Landscaping RFP 3/23/2015 Transporta<on RFP Update 4/13/2015 Food Service RFP Update 4/13/2015

27 Ques<ons