August 3, 2015 Dr. John Horak

Transcription

1 Meridian ISD Budget Workshop August 3, 2015 Dr. John Horak

2 Budgeting Process Meridian ISD Planning Calendar

3 Meridian ISD Budget Planning Calendar Target Date Activity/Process (Move activities two months earlier if district uses a July 1 st fiscal year start date) Responsibility Date Completed 3/1/15 5/31/15 Gather Input from Stakeholders Principals/Directors/Teachers/DIP/CIP 4/2/15-5/31/15 Prepare budget file for budget process 4/25/15 Deadline for chief appraiser to certify an estimated taxable value 6/1/15-6/22/15 Begin NYPR process; copy current budget amounts to proposed for initial starting point on budget Superintendent 5/31/15 Business Office 5/31/15 County Chief Appraiser 4/25/15 Business Office 6/22/15 6/26/15 Superintendent reviews preliminary salary schedule Superintendent 2/26/15 6/27/15-7/13/15 Review/update NYPR personnel staffing and proposed salary schedule Superintendent/ Business Mgr 7/13/15 6/25/15-7/13/15 Administrative review of budget Superintendent 7/13/15 7/9/15 45 days before first day of instruction 7/9/15 7/16/15 Review of building maintenance, renovation, and Future construction schedules, if necessary 7/16/15 Complete review of preliminary district budget, Personnel requirements, facility requirements, and Projected revenue Superintendent 7/9/15 Superintendent 7/16/15 7/20/15 Complete first draft of district budget Superintendent 7/20/15 7/20/15 Regular Board Meeting 7/20/15 7/25/15 Deadline for chief appraiser to certify rolls to school districts Superintendent/ School Board 8/31/15 72-hour notice for Budget Workshop (Open Meetings Notice) 7/25/15 8/31/15 3

4 Meridian ISD Budget Planning Calendar /3/15 Budget Workshop 8/3/15 Meeting of school board to decide on public meeting date on budget and proposed tax rate. The school board votes on a proposed tax rate that will be published in the notice for the public meeting. Superintendent/ School Board 8/3/15 8/3/15 Certification of anticipated collection rate by assessor-collector Tax Assessor- Collector 8/3/15 Calculation of rollback tax rate Tax Assessor- Collector 8/3/15 Complete final budget draft Superintendent 8/3/15 8/3/15 Complete notice for publication Superintendent 8/3/15 8/3/15 Review tax notice and budget Superintendent/ Business Mgr 8/3/15 Send notice to paper (Consider publication dates if not a daily paper) 8/6/15 NOTICE OF PUBLIC MEETING TO DISCUSS BUDGET AND PROPOSED TAX RATE published 10 to 30 days before public meeting. Post proposed budget summary on district s website. 8/3/15 8/3/15 8/3/15 Superintendent 8/3/15 Superintendent 8/21/15 72-hour notice for public meeting and to adopt tax Rate (Open Meetings Notice) Superintendent 8/24/14 Public meeting on budget and proposed tax rate. Superintendent/ School Board 4

5 Revenues 5

6 Main Sources of Revenue Local (Property Taxes) M&O.1.04 I&S.0.33 State Revenue (Sales Tax) FSP IDA EDA Federal (Income Tax) Title Grants School Breakfast & Lunch SHARS 6

7 Revenue Trends (per Student) 7

8 Local Revenue Sources Total Appraised Value and Total Taxable Value (as calculated under Section 26.04, Tax Code) Total appraised value* of all property Total appraised value* of new property** Total taxable value*** of all property Total taxable value*** of new property** Preceding Tax Year Current Tax Year $166,377,641 $166,463,734 $390,426 $1,495,749 $143,906,130 $145,839,136 $384,656 $1,202,833 * Appraised value is the amount shown on the appraisal roll and defined by Section 1.04(8), Tax Code. ** New property is defined by Section (17), Tax Code. *** Taxable value is defined by Section 1.04(10), Tax Code. 8

9 Local Tax Roll Value 9

10 Tax Rates Comparison of Proposed Rates with Last Year s Rates Last Year s Rate M & O I & S Total Local Revenue Per Student State revenue Per Student $1.04 $ $ $4,055 $6,920 Rate to Maintain Same Level of M&O Revenue & Pay Debt Service $1.04 $ $ $4,400 $6,869 Proposed Rate $1.04 $ $ $4,382 $6,878 *The Interest and Sinking Fund tax is used to pay for bonded debt on construction, equipment, or both. The bonds, and the tax rate necessary to pay those bonds, were approved by the voters of this district. 10

11 2014 Tax Rates 11

12 Historical Tax Rates M&O I&S 12

13 Tax Collection Rates MISD collection rate in near 98% Budget built off of 97% collection rate In the end we end up with over 100% M&O I&S 13

14 Budget Assumptions Enrollment numbers are slightly down This number reflects the loss from last year and prepares for some future loss this year just in case. Why are we losing students? Small towns are losing population, the economy has picked up in other areas and families have moved out of Meridian, social agencies have moved them to foster homes in other cities. 14

15 Revenue Amounts Property taxes..$1,532,769 Last Year $1,463,725 Increase $69,044 Foundation.$3,028,519 Last Year $3,296,756 Decrease.-$268,237 Difference. -$199,193 Mostly due less students 15

16 Expenditures 16

17 Expenditures Revenue Available..$4,767,377 Expenditures Requested.$4,751,960 Difference. +$15,417 17

18 Comparison to Last Year s Budget Comparison of Proposed Budget with Last Year s Budget M&O. 7.9% Decrease I&S Decrease Total expenditures..7.25% Decrease 18

19 General Fund Expenditure Trends (per student) With Construction Expenses 19

20 General Fund Expenditure Funds (per Student) without Construction Expenses 20

21 General Operating Budget Re-cap State Revenue is projected to be $3,028,519 Local revenue is projected to be $1,532,769 Total Revenue including taxes, penalties and interest is projected at $4,767,377 Total Expenditures Requested $4,751,960 Difference. +$15,417 21

22 Fund Balance 22

23 Fund Balances M&O $3,307,748 I&S. $522,837 Fund Balance is suggested to be maintained at a level of 3 months of operations by TEA Monthly operating costs - $465,312 Three months $1,395,936 Surplus over recommended level..$1,911,812 MISD could operate 7.1 months from fund balance alone. 23

24 2014 General Fund Balance 24

25 Meridian ISD General Fund Balance 25

26 District Snapshot 26

27 FIRST Rating 27

28 Revenue Trends 28

29 General Fund Expenditures 29

30 Academic Performance 30

31 STAAR Proficient 31

32 2014 % Free and Reduced Lunch 32

33 SAT Scores All Students 33

34 ACT Scores All Students 34

35 Demographics 35

36 Student Count Trends and Projections 36

37 Student Ethnicity Trends 37

38 Bond Information 38

39 Bond Information Elementary School Bond (series 2010) February 2016 $125, August 2016 $205, payment $331, Still Owe $9,869, Principal $6,440, Interest $3,429,

40 Bond Information High School Bond (series 2013) November 2015 $157, May 2016 $ 4, payment $162, Still Owe $648, Principal $640, Interest $ 7,

41 Budget Conclusion 41

42 Comparison of Proposed Levy with Last Year s Levy on Average Residence Total Tax Rate proposed is $1.37 Last year This year Average Market Value of Residences Average Taxable Value of Residences Last Year s Rate Proposed Rate per $100 Value Taxes Due on Average Residence Increase (Decrease) in Taxes $96,854 $99,275 $81,170 $70,303 $1.34 $1.37 $1, $ ( ) Property Values will likely remain steady 42

43 Final Budget Numbers Projected Revenue $4,767,377 Projected Expenses $4,751,960 $15,417 more revenue than expenses in Budget Historically, MISD has expended less than 100% of the budget. 43