Proposed Budget For the Fiscal Year (FY17/18)

Transcription

1 Colorado Springs School District 11 Proposed Budget For the Fiscal Year (FY17/18) From July 1, 2017 through June 30, 2018 May 31, North El Paso Street Colorado Springs, Colorado Phone:

2 Colorado Springs School District 11 ( D11 ) seeks to comply with applicable laws prohibiting discrimination in relation to disability, race, creed, color, sex, sexual orientation (as defined by state law), national origin, religion, ancestry, age, and protected activity in its programs and activities. D11 also provides equal access to the Boy Scouts and other designated youth groups. Any harassment/ discrimination of students and/or staff, based on the aforementioned protected areas, is prohibited and must be brought to the immediate attention of the school principal, the D11 administrator/supervisor, or the D11 nondiscrimination compliance/grievance coordinator. The following person has been designated to handle inquiries regarding D11 s nondiscrimination policies: The District 11 NONDISCRIMINATION COMPLIANCE COORDINATOR, Alvin N. Brown, Jr., JD, designated to coordinate compliance with: 1) Equal Pay Act of 1963, 2) Civil Rights Act of 1964, as Amended, 3) Age Discrimination in Employment Act of 1967, 4) Title IX Education Amendments Act of 1972, 5) Section 504 of Rehabilitation Act of 1973, 6) Pregnancy Discrimination Act of 1978, 7) Americans with Disabilities Act of 1990, and 8) Colorado Anti-Discrimination Act. 9) School District 11 Board of Education Policy AC. Nondiscrimination/Equal Opportunity, 711 East San Rafael Street, Colorado Springs, CO 80903, alvin.brown2@d11.org, Phone: (719) , Fax: (719) Se habla Español.

3 Colorado Springs School District 11 FY Proposed Budget TABLE OF CONTENTS General Fund Appropriation Resolution... 1 Transmittal Letter... 3 Total Program Funding Summary... 9 Schedule of Revenues, Expenditures, Fund Balance and Reserves Schedule of Revenues and Fund Balance Increase/Decrease Sources and Uses Expenditure Summary by Program Expenditure Summary by Object Fund Balance and Other Non-Recurring Financing Sources and Their Uses Detail Schedule of Expenditures, Transfers, and Reserves by Program Risk Management Fund Schedule of Revenues, Expenditures and Fund Balance Supplemental Schedule of Revenues and Expenditures and Fund Balance Preschool Fund Schedule of Revenues, Expenditures, and Fund Balance Food Services Fund Schedule of Revenues, Expenditures, and Fund Balance Three-Year Equipment Plan Projection Designated Purpose Grants Fund Schedule of Revenues, Expenditures, and Projected Carryover Supplemental Schedule of Revenues, Expenditures, and Projected Carryover Mill Levy Override Fund Schedule of Revenues, Expenditures, and Fund Balance Mill Levy Override Spending Plan Disbursement Transfer Summary Bond Redemption Fund Schedule of Revenues, Expenditures, and Fund Balance Schedule of Annual Debt Service GO Bonds Schedule of QZAB Escrow Funding Requirements Capital Reserve Capital Projects Fund Schedule of Revenues, Expenditures, and Fund Balance Detail Schedule Schedule of Debt Service Risk Related Activities Fund Schedule of Revenues, Expenses, and Net Assets Supplemental Schedule of Revenues and Expenses Production Printing Fund Schedule of Revenues, Expenses, and Retained Earnings Five-Year Capital Needs Projection i

4 Agency Funds Combining Schedule of Cash Receipts, Cash Disbursements, and Cash Balances Pupil Activity Fund Schedule of Cash Receipts, Cash Disbursements, and Cash Balances Other Agency Fund Schedule of Cash Receipts, Cash Disbursements, and Cash Balances School Allocations for Instructional and Non-Instructional Uses Instructional Supplies, Materials, Equipment, Repairs and Other School Instructional Allocations School Non-Instructional Allocations Staffing Information Staffing Formulas Authorized Staffing (All Funds) Schedule Staff Changes for All Funds Requested Staff Changes Teacher Staffing Based on Pupil Projections Teacher Staffing Allocations Other Information Budget Modification Requests Summary Summary of Transactions Between Funds Rental Fee Schedule for School District 11 Facilities Acronyms ii

5 RESOLUTION APPROPRIATION LEVELS BUDGETED FOR THE FISCAL YEAR BEGINNING JULY 1, 2017 AND ENDING JUNE 30, 2018 Be it resolved, by the Board of Education of Colorado Springs School District 11, in the county of El Paso and state of Colorado that the amounts shown in the following schedule be appropriated to each fund as approved on June 14, 2017 for the current fiscal year beginning July 1, 2017 and ending June 30, Fund Proposed Budget FY Fund Balance and Anticipated Revenues June 14, 2017 June Modification Amounts Total Appropriation by Fund Budgeted FY Payments Included in Other Funds Modified Budget FY Less Payments Included in Other Funds General Fund $ 259,006,226 $ - $ 259,006,226 $ - $ 259,006,226 Risk Management 4,600,103-4,600,103-4,600,103 Preschool 3,710,905-3,710,905-3,710,905 Special Revenue Funds: Governmental Designated Purpose Grants 21,148,265-21,148,265-21,148,265 Food Services 13,600,444-13,600,444-13,600,444 Mill Levy Override 168, , ,100 Debt Service Fund: Bond Redemption 36,566,286-36,566,286-36,566,286 Capital Projects Fund: Capital Reserve 17,069,873-17,069,873-17,069,873 Internal Service Funds: Risk-Related Funds 36,108,362-36,108,362 28,203,932 7,904,430 Production Printing 2,202,139-2,202,139 2,202,139 - Trust & Agency Funds: Pupil Activity 7,400,000-7,400,000-7,400,000 Other Agency 150, , ,000 TOTAL BUDGET $ 401,730,703 $ - $ 401,730,703 $ 30,406,071 $ 371,324,632 1 May 31, 2017

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7 Nicholas M. Gledich, Ed.D., Superintendent The world is changing. Meet the future. Glenn E. Gustafson, CPA Deputy Superintendent, Chief Financial Officer 1115 N. El Paso Street, Colorado Springs, CO Phone: (719) FAX: (719) May 31, 2017 Dr. Nicholas M. Gledich, Superintendent Colorado Springs School District North El Paso Street Colorado Springs, CO Subject: Transmittal of the Proposed Budget for Fiscal Year We are pleased to submit to you the proposed budget for fiscal year (July 1, 2017 June 30, 2018). The budget is presented in compliance with applicable Colorado state statutes and Colorado Department of Education (CDE) regulations. A balanced budget is presented for each of the District s funds with projected beginning fund balance plus anticipated revenues equal to expenditures and reserve allocations. Budget Process The budget development process for the FY17/18 budget year was developed in light of the economic future in limbo. Budget challenges at the state level have impacted school districts across Colorado. Because of these challenges, the District has made a special effort to educate not only its staff but the entire District 11 community about state financing practices and how the District is impacted by each component of state financing. Each year a preliminary budget development assumptions document is presented to the Board of Education in the spring for approval prior to preparing the proposed budget. This document was closely examined by the District Accountability Committee s (DAC) budget subcommittee, which is made up of district parents, community members, and staff. The subcommittee, with approval of the DAC, makes its recommendations regarding the preliminary budget development assumptions to the Board of Education in March and further budgetary recommendations prior to budget adoption. Student Enrollment Trends As detailed in the following graph District enrollment is in a declining trend. The District continues to use fiveyear declining enrollment averaging that allows for a larger funded pupil count (FPC) than if actual count was used. The five years included in the fiscal year s averaging are FY12/13 through FY17/18. A rather large change took place prior to calculating the FY16/17 FPC projection. The difference between the FY12/13 pupil count (the year dropping off of the five-year moving average) and the FY17/18 projection (the year being added) is 1,291 pupils. This created a projected FPC drop of almost 258 pupils from the previous year. The projected actual pupil count drop is 207. The difference between projected actual count (FTE) of 25,465 and projected FPC of 25,870 is 405. On a more positive note, enrollment for FY16/17 was only 22.5 FTE less than the prior year, FY15/16. The District is hopeful that this trend will continue into the future. 3

8 Colorado Springs School District 11 Thirteen-Year Comparison FTE to FPC 31, , , , , , , , ,000.0 FTE FPC FTE = full time equivalent, FPC = funded pupil count School Finance and Legislative Activity Colorado school finance formulas consist of three main components: the legislatively controlled base funding amount per pupil, the number of pupils in a school district, and the number of students eligible for free lunch. When Amendment 23 was passed by the Colorado voters in November 2000, school districts were promised an inflationary increase of the per-pupil base funding plus one percent for 10 years. The additional one percent ended in FY10/11. The inflationary increase is based on the Denver-Boulder consumer price increase (CPI) of the prior calendar year. The CPI for the upcoming school year will be 2.8 percent. That is an increase from the last year which was 1.2 percent. This proposed budget has been prepared using the best information available at the time of presentation. Revenue assumptions incorporate the most current revenue and economic information provided by the state of Colorado, Colorado Department of Education and the United States Bureau of Labor Statistics. Revenue projections include an increase in general School Finance Act revenues (total program) and, of that, based on past fiscal years, is up a substantial amount from prior school years. It is important to keep up with the impact of the negative factor or budget stabilization factor on general fund School Finance Act revenues. If the District was experiencing the full impact of the funding of inflation and growth described in the School Finance Act of 1994, total program FY18 funding would be $227.9 million. The impact of the negative factor is to drop that amount by $25.3 million to $202.6 million. 4

9 TABOR Article X, Section 20 of the state constitution creates limitations on general operating property tax revenue increases from one year to the next. Restrictions also apply to certain spending levels and revenue levels from one year to the next. Both limitations are determined by the sum of the increases or decreases in the Denver- Boulder CPI and the actual growth rate (change in the number of students). A declining enrollment actually lowers the percentage by which revenue and spending may increase. Local voters within each Colorado school district may, through a majority vote, temporarily or permanently override either or both negative impacts created by the school finance formula and the Taxpayers Bill of Rights (TABOR). The voters in District 11 approved a permanent mill levy override in November 2000, which brings in a maximum amount of $26.9 million in property tax revenues to fund operations. Significant Changes in the Proposed General Fund Budget Revenue Total revenue for the general fund, net of required allocations and transfers, is projected at $221.2 million. The total budgeted resource amount available for appropriation by the D11 Board of Education, which is the combined net revenues and beginning fund balance, is $259 million. Approximately 81.9 percent of the total general fund revenues are derived from the Colorado School Finance Act. Generally, this revenue is based on each district s certified pupil count and number of at-risk students, however, a special averaging formula is provided for districts with declining enrollments. The certified pupil count is based on full-time equivalency (FTE) and is the actual number of eligible students counted on October 1 of each year. Currently, the District s FTE count is estimated to be 25,465, which creates a formula average funded pupil count (FPC) of 26,772. The following table illustrates the significant revenue changes in the proposed budget: Revenue Source Mid-Year FY16/17 Proposed FY17/18 Change Amount Property Taxes $ 57,597,387 $ 56,582,412 $(1,014,975) Specific Ownership Taxes 6,678,200 6,878, ,346 State Equalization 133,590, ,138,026 5,547,175 Total School Finance Revenue $197,866,438 $202,598,984 $ 4,732,546 Required Allocations to Charter Schools and Preschool Fund $(16,673,706) $(17,126,304) $ (452,598) General Fund School Finance $181,192,732 $185,472,680 $ 4,279,948 Other State and Local $ 15,839,018 $ 16,055,554 $ 216,536 Federal 2,084,439 2,084, Net Transfers In and (Out) 17,163,986 17,615, ,446 Total $216,280,175 $221,228,105 $ 4,947,930 Property taxes decreased due to the state s change of the assessed value rate from 7.96 percent to 7.20 percent. The school finance portion of specific ownership taxes (SOT) is estimated to increase by $200,346. The allocation is based on the proportional share of the District s property tax collections to the county s total property tax collections. Since District 11 s total tax warrants are growing at a flat pace when compared to surrounding districts the District s allocation of specific ownership tax is also flat. Another major factor to consider in SOT collections are the projected number of new car registrations this year. That number is projected to remain relatively flat. 5

10 Required allocations for FY17/18 are projected to increase by $370,024. Charter school enrollment is projected to be down by just 17.5 FTE, however the per pupil revenue rate increases by $241. The preschool fund s projected revenue is also increased due to this higher rate. The District continues to allocate the same $298 per pupil ($193 to the capital reserve capital projects fund and $105 to the risk management fund) as was allocated in FY08/09. Finally, net transfers-in and out is projected to increase by $451,446. Expenditures Total expenditures for the general fund are projected at $236.6 million, which is almost $7.5 million more than mid-year FY16/17. The following table illustrates the expenditure adjustments included in the proposed FY17/18 budget: Program Mid-Year FY16/17 Proposed FY17/18 Change Amount Instructional Programs $137,484,315 $141,868,631 $4,384,316 Pupil Services 12,682,511 13,171, ,988 Instructional Staff Support 15,108,912 15,612, ,737 General Administration 1,754,958 1,804,052 49,094 School Administration 19,280,712 20,752,975 1,472,263 Business Administration 2,409,894 2,514, ,648 Central Services 8,778,852 8,774,735 (4,117) Maintenance and Operations 24,430,351 24,632, ,013 Student Transportation Services 4,904,268 4,860,407 (43,861) Other Services 893, ,176 18,117 Community Services 1,268,031 1,286,109 18,078 Construction Services , ,000 Total $228,995,863 $236,569,139 $7,573,276 Compensation increases of $8.01 million were approved for all employee groups. Teachers received experience steps/increments, academic credits, a 0.5 percent recurring increase and a one percent one-time allocation. Executive professionals will receive experience steps, a 0.5 percent recurring increase and a one percent onetime allocation. Educational support professionals will receive experience steps, minimum wage increases, 0.5 percent recurring increase and a one-time one percent across the board payment. Other general fund expenditure additions for FY17/18 are: 1. Equal access for all students taking advanced placement exams was made recurring $176, Increase budget support at elementary schools for lunchroom aides $33,925 (recurring) 3. Increase budget for translation and interpreter services $8,000 (recurring) 4. Additional support for post-secondary options $50,000 (non-recurring) 5. Further support for student individual career and academic planning $148,610 (non-recurring) 6. Purchase and replace security camera systems at selected sites $200,000 (non-recurring) 7. Purchase two portable buildings for placement at two schools $300,000 (non-recurring) 8. Purchase portable building for curriculum storage $130,000 (non-recurring) 9. Purchase security door hardware for schools $250,000 (non-recurring) 10. Fund the Summer Enrichment program for another year - $595,761 (non-recurring) 11. Fund projected additional costs for November election $200,000 (non-recurring) 6

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13 Colorado Springs School District 11 PUBLIC SCHOOL FINANCE ACT TOTAL PROGRAM FUNDING SUMMARY (Excludes Data from the Institute Charter) PROPOSED MODIFICATIONS FY Mid-Year Proposed FY16-17 FY17-18 Difference October 1, Pupil Count (FTE) 25, , (207.00) (Excludes Full-Day Kindergarten factor) Funded Pupil Count (FPC) 26, , (251.20) Full Day Kindergarten Factor CPP Pupil Count On-line Pupil Count (7.00) ASCENT , , (258.20) Gross Total Program Funding 223,898, ,895,370 3,996,672 Per-Pupil Funding Rate 8, , Negative Factor (0.0045) Negative Factor Per-Pupil Funding Rate 7, , Property Tax Revenue 57,597,386 56,582,412 (1,014,973) Specific Ownership Tax Revenue 6,678,200 6,878, ,346 State Equalization 159,623, ,434,412 4,811, ,898, ,895,370 3,996,674 Negative Factor (26,032,260) (25,296,386) 735,874 Total Program Funding 197,866, ,598,984 4,732,547 Net Assessed Valuation 2,478,479,550 2,434,804,090 (43,675,460) Mill Levies Total Program Education Plan Bond /2010/ Abatement Tax Revenue General Fund 57,597,386 56,582,412 (1,014,973) Abatement 567,309 1,217, ,093 Total General Fund 58,164,696 57,799,814 (364,880) Education Plan 26,522,321 26,999, ,222 Bond Redemption 15,857,879 15,857, ,544, ,657, ,341 9 May 31, 2017

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15 Colorado Springs School District 11 GENERAL FUND (Preschool & Risk Mgmt. Funds not Included) Schedule of Revenues, Expenditures, Fund Balance, and Reserves FY Actual Budget Actual Actual Actual Adjusted Change Proposed Beginning Unassigned & Other Fund Balance Available Unassigned Fund Balance (GAAP Basis) $ 4,578,299 $ 10,289,246 $ 14,360,783 $ 15,160,309 $ 1,831,076 $ 16,991,385 Other Fund Balance (GAAP Basis) 10,513,378 10,513,378 12,733,330 12,278, ,305 12,807,778 Fund Balance (GAAP Basis) 15,091,677 20,802,624 27,094,113 27,438,782 2,360,381 29,799,163 Budgetary Basis Adjustments: Less: Unrealized Investment Gains Nonspendable - Inventory (337,042) - (337,042) Nonspendable - Prepaid Expenses Add: Unfunded Accrued Salaries & Benefits ,316,000-8,316,000 Total Beginning Fund Balance 15,091,677 20,802,624 27,094,113 35,417,740 2,360,381 37,778,121 Revenues Local Revenue $ 69,392,622 $ 71,541,003 $ 72,141,094 $ 71,906,339 $ (829,545) $ 71,076,794 State Revenue 111,391, ,286, ,978, ,125,411 5,326, ,451,440 Federal Revenue 513,115 1,016,169 2,074,881 2,084,439-2,084,439 Total Revenues 181,296, ,843, ,194, ,116,189 4,496, ,612,673 Other Financing Sources (Uses) Transfers In (Out) Mill Levy Override Fund 26,559,285 26,768,451 26,707,976 27,240,482 (431,660) 26,808,822 Risk Mgmt Fund Fund (1,516,634) (2,631,646) (2,597,700) (2,606,778) 16,608 (2,590,170) Capital Reserve Fund (909,610) (5,327,429) (6,139,954) (5,767,718) (341,971) (6,109,689) Community Ed Fund 44, Food Service Fund - (700,000) (125,100) (117,000) (271,531) (388,531) Risk-Related Activities Fund (800,000) (1,000,000) - (1,000,000) 1,000,000 - Print Production Fund (400,000) 480,000 80,000 Designated Grant Fund (185,000) (185,000) (150,980) (185,000) - (185,000) Total Other Financing Sources (Uses) 23,192,965 16,924,376 17,694,242 18,563, ,446 17,615,432 Total Resources Available 219,581, ,570, ,982, ,097,915 7,308, ,006,226 Expenditures Instruction Services 120,160, ,776, ,680, ,484,315 4,384, ,868,631 Pupil Services 9,933,442 10,230,168 11,743,130 12,682, ,988 13,171,499 Instruction Staff Support 11,849,840 12,632,431 13,772,865 15,108, ,737 15,612,649 General Administration 2,640,687 2,442,419 1,348,293 1,754,958 49,094 1,804,052 School Administration 17,430,313 17,583,275 18,879,087 19,280,712 1,472,263 20,752,975 Business Administration 2,067,075 2,177,779 2,324,547 2,409, ,648 2,514,542 Central Services 7,816,751 7,508,337 8,535,592 8,778,852 (4,117) 8,774,735 Maintenance & Operations 21,013,870 22,771,948 23,587,828 24,430, ,013 24,632,364 Transportation Services 3,809,541 3,679,276 4,047,745 4,904,268 (43,861) 4,860,407 Other Services 858, , , ,059 18, ,176 Community Services 755, , ,130 1,268,031 18,078 1,286,109 Construction Services 443,253 90,065 6, , ,000 Total Expenditures 198,778, ,476, ,544, ,995,863 7,573, ,569,139 Fund Balances Restricted - TABOR Reserve ,133,210-5,133,210 Restricted - MYO , ,000 Committed - PERA ,200,000 (1,200,000) - Committed - Teacher Reserve , ,000 Assigned Encumbrances C/O , ,826 1,000,000 Assigned Energy Lease Payments , ,008 Assigned for IT Programs , ,560 Unassigned ,752,108 (122,799) 14,629,309 Total Fund Balances ,702,052 (264,965) 22,437,087 Total Expenditures & Fund Balances 251,697,915 7,308, ,006,226 Fund Balances, End of Year $ 20,802,624 $ 27,094,112 $ 27,438,782 $ - $ - $ - Total Appropriation $ 251,697,915 $ 7,308,311 $ 259,006, May 31, 2017

16 Colorado Springs School District 11 GENERAL FUND ( Preschool & Risk Mgmt. Funds not Included) Schedule of Revenues and Fund Balance Proposed - FY Actual Revenues Mid-Year Proposed DESCRIPTION FY FY FY FY Change FY Beginning Fund Balance Unassigned Fund Balance (GAAP Basis) $ 4,578,299 $ 10,289,246 $ 14,360,783 $ 15,160,309 $ 1,831,076 $ 16,991,385 Other Fund Balance (GAAP Basis) 10,513,378 10,513,378 12,733,330 12,278, ,305 12,807,778 Fund Balance (GAAP Basis) 15,091,677 20,802,625 27,094,113 27,438,782 2,360,381 29,799,163 Budgetary Basis Adjustments: Add/Subtract Unrealized Investment Loss (Gain) Nonspendable - Inventory (337,042) - (337,042) Unfunded Accrued Salaries & Benefits ,316,000-8,316,000 Total Fund Balance 15,091,677 20,802,625 27,094,113 35,417,740 2,360,381 37,778, Property Taxes Current $ 55,347,263 $ 57,469,141 $ 58,286,943 $ 57,597,387 (1,014,975) $ 56,582, Property Taxes Abatement Levy 667, ,466,409-1,466, Property Taxes Uncollectible (976,405) - (976,405) 1110 MLO to Charter Schools (712,312) (712,051) (712,051) (712,051) - (712,051) 1140 Property Taxes Delinquent 225, , , , , Property Taxes Abatement Refunds (396,323) (531,333) (235,181) (577,574) - (577,574) Total Property Tax Revenue 55,131,670 56,386,469 57,474,400 56,957,766 (1,014,975) 55,942, Specific Ownership Tax Collected in Prior Year 5,572,647 5,970,844 6,351,693 6,678, ,346 6,878, Specific Ownership Tax Adjustment from Prior Year (451,514) (156,514) (380,849) (256,514) 56,208 (200,306) 1120 Specific Ownership Other Funds 4,512,081 4,303,126 4,523,564 4,282, ,000 4,582, Tuition - Digital School 20,500 21,930-20,000-20, Tuition Summer Literacy 29,300 37,805 46,515 22,000-22, Tuition - Adult - 42,059 37,831 37,000-37, Montessori Tuition , , , , Reimbursement Detention Center Program 193, Tuition from Excess Costs 60,912 87,694 88,008 88,000-88, Reimbursement Incarcerated Youth Program 447, Investment Interest 13,564 17,808 72,588 63,000-63, Gate Receipts 135, , , , , Athletic Fees 253, , , , , Tesla Day Care Revenue 214, , , , , Instructional Event Fees (Intramurals, science & art) 12,656 12,099 13,980 12,865-12, Misc Revenue-CSEA Sal/Bene 7,691 8,998 4,122 4,000-4, Vehicle Operation services 97, , , , , Vehicle Services 7,721 15,062 5,095 5,500-5, Facility Rental Revenue 487, , , , , Child Care Facility Rental 113, , , , , Wireless Tower Rent 102, ,905 89,094 89,000-89, Donations and Gifts 22,544 39,564 30,176 14,800-14, Sale of Equipment ,983 24,040 23,500-23, Instructional Materials Fees 16,226 2,545 2,550 2,500-2, Charter School Services Buyback Services 574, , , ,414 (5,792) 569, Charter School Administration Fee 278, , , ,380 7, , Reimbursement Crossing Guards Program 173, , , , , High School Parking Fees 31,908 26,735 25,314 29,000-29, Indirect Cost Revenue 571,759 1,065, , ,522 (177,232) 590, Advertising Revenue 54,431 49,846 18,959 7,400-7, Revenue Miscellaneous Other 444, , ,409 98,800-98, Revenue Miscellaneous E-Rate Reimbursement 124, , ,000 (198,000) GED Testing - 8,134 5,984 8,500 2,500 11, Revenue - Staff Development Inservice 42,943 96,578 74,520 75,000-75, Revenue - Rebates 93,507 11, Unanticipated Revenues , ,000 Total Local Revenue Sources 69,392,622 71,541,003 72,141,094 71,906,339 (829,545) 71,076,794 Budget 12 May 31, 2017

17 Colorado Springs School District 11 GENERAL FUND ( Preschool & Risk Mgmt. Funds not Included) Schedule of Revenues and Fund Balance Proposed - FY Actual Revenues Mid-Year Budget Proposed DESCRIPTION FY FY FY FY Change FY State Equalization 121,316, ,836, ,686, ,590,851 5,547, ,138, State Equalization - CPKP Hold PPR 496, , , ,000 20, , At-Risk Supplemental Overpay 255, , , , ,472 Less allocation to: 3141 Preschool Fund - Preschool Program (2,763,782) (2,943,024) (3,050,012) (3,104,721) (82,574) (3,187,295) Charter Schools - Total Program (13,824,925) (14,899,985) (13,480,989) (13,568,985) (370,024) (13,939,009) Charter Schools - CPKP Full-day (164,594) (174,748) (196,928) (194,748) - (194,748) 3120 Vocational Education 213, , , ,209 8, , Special Education 4,166,356 4,239,339 4,385,002 3,983, ,000 4,091, Special Education - to Charter Schools (278,350) (268,670) (249,966) (227,359) - (227,359) 3139 English Language Proficiency Professional Dev , , ,302 16, , English Language Proficiency 421, , , ,481 11, , English Language Proficiency - to Charter Schools (47,799) (162,657) (131,244) (42,515) - (42,515) 3150 Gifted & Talented 264, , , ,957 4, , Gifted & Talented - to Charter Schools (15,106) (12,143) (14,947) (15,954) - (15,954) 3160 State Transportation 1,013, ,976 1,034,758 1,006,213 27,168 1,033, State Equalization Audit Adjustment (65,693) READ Act 472,694 1,294,366 1,380,554 1,321,423 35,678 1,357, READ Act - to Charter Schools (56,679) (98,887) (120,482) (45,206) - (45,206) 3235 Additional At-Risk Funding , Additional At-Risk Funding - to Charter Schools - - (16,717) State Transportation Audit Adjustment (12,517) - - (83,903) - (83,903) Total State Revenue Sources 111,391, ,286, ,978, ,125,411 5,326, ,451, Junior ROTC 187, , , , , Unrestricted Federal Impact Aid 239, , , , , Unrestricted Federal Impact Aid - to Charter Schools (10,313) (14,960) (11,559) (891) - (891) 4041 Restricted Federal Impact Aid - 81,437 79,291 80,500-80, Medicaid Reimbursement - 476,305 1,596,985 1,595,230-1,595, DOD - Children with Severe Disabilities 96,500 80, Total Federal Revenue Sources 513,115 1,016,169 2,074,881 2,084,439-2,084,439 Total Revenues 181,296, ,843, ,194, ,116,189 4,496, ,612,673 Non-Operating Revenues - Transfers In (Out) Risk Management Fund - Transfer (Out) (1,516,634) (2,631,646) (2,504,198) (2,501,205) 18,375 (2,482,830) Risk Management Fund for FNS Insurance- Trnsfr (Out) - - (93,502) (105,573) (1,767) (107,340) Capital Reserve Fund - Transfer (Out) (332,650) (5,327,429) (5,527,954) (4,597,453) 33,775 (4,563,678) Capital Reserve Fund - Energy Lease (576,960) - (612,000) (630,460) (18,740) (649,200) Capital Reserve Fund - ES Renovation COP's (289,805) (232,006) (521,811) Community Ed Fund - Non-recurring 44, Capital Reserve Fund - Non-recurring (250,000) (125,000) (375,000) Food Service Fund - Transfer (Out) - (700,000) (125,100) (117,000) (271,531) (388,531) Print Production Fund - Transfer (Out) (400,000) 400,000 - Print Production Fund - Transfer In ,000 80,000 Risk-Related Funds - Transfer (Out) (800,000) (1,000,000) - (1,000,000) 1,000,000 - Designated Grant Fund - Transfer (Out) (185,000) (185,000) (150,980) (185,000) - (185,000) Mill Levy Override Fund - Non-recurring ,660 (431,660) - Mill Levy Override Fund - Recurring 26,559,285 26,768,451 26,707,976 26,808,822-26,808,822 Total Non-Operating Revenues 23,192,965 16,924,376 17,694,243 17,163, ,446 17,615,432 Total Resources Appropriated for FY $219,581,387 $230,570,797 $244,982,808 $251,697,915 $7,308,311 $259,006, These items make up the School Finance Act Total Program Funding amount of: $182,236,658 $193,276,515 $198,325,177 $197,866,438 $4,732,546 $202,598, May 31, 2017

18 Proposed Budget Modifications General Fund FY Increase/Decrease Sources & Uses r- recurring, n- non-recurring Proposed Appropriation FY ,006,226 Adjusted Appropriation FY ,697,915 Total Appropriation (Increase) 7,308,311 Increases ( Decreases) in Budgetary Reserve & Fund Balance: Budgetary Reserve & Fund Balance 1 Increase to projected fund balance (FY17 end-of-year projection) 1,831,076 n 2 Increase encumbrance carryover, (FY17 end-of-year projection) 600,826 n 3 Increase instructional supplies carryover (FY17 end-of-year projection) 28,216 n 3 Decrease PERA budget reserve (final year FY18 of phased-in increase) (1,200,000) n 4 Decrease projected carryover of unused Adams/Hunt move budget reserve (adjust to actual) (11,352) n 5 Increase non-instructional supplies carryover (FY17 end-of year projection) 616,759 n 6 Decrease projected D-11 Cohort carryover (FY17 end-of-year projection) (235,041) n 7 Add assigned fund balance for final energy lease program (to be paid in FY18/19) 457,008 n 8 Increase Restricted Reserve - TABOR (FY17 end-of year projection) 272,889 n Total Budgetary Reserve & Fund Balance 2,360,381 Increases ( Decreases) in Revenue: Local Revenue 9 Decrease in property taxes - current (due to projected increase in assessed valuation and decrease in assessment rate) (1,014,975) r 10 Increase in Specific Ownership Tax - (tax adjustment from prior year) 556,554 r 11 Decrease in charter school services buyback services (updated projection) (5,792) r 11 Increase in charter school administration fee (updated projection) 7,400 r 12 Increase in GED testing revenue (updated projection) 2,500 r 12 Decrease indirect cost revenue (drop in projected designated grants program revenue) (177,232) r 13 FY17 E-rate revenue distribution (non-recurring) (198,000) n Total Local Revenue Increase (Decrease) (829,545) State Revenue 14 Increase state equalization (projected pupil count decrease and projected $184 increase in PPR) 5,547,175 r 15 Increase state equalization - CPKP Hold PPR 20,000 r 16 Decrease allocation to Preschool Fund (FY17 projection) (82,574) r 17 Decrease allocation to charter schools CPKP full-day kindergarten (FY18 projection) (370,024) r 18 Increase State Vocational Education revenue (FY18 inflation-based projection) 8,456 r 19 Increase Special Education revenue (FY18 inflation-based projection) 108,000 r 20 Increase ELL professional development revenue (FY18 inflation-based projection) 16,208 r 21 Increase ELL proficiency revenue (FY18 inflation-based projection) 11,164 r 22 Increase Gifted & Talented revenue (FY18 inflation-based projection) 4,778 r 24 Increase state transportation (FY18 inflation-based projection) 27,168 r 25 Increase READ Act revenue (updated projection) 35,678 r Total State Revenue Increase (Decrease) 5,326,029 Federal Revenue and Interfund Transfers 26 Increase in transfer out to Capital Reserve fund (to cover energy lease - two remaining years identified as non-recurring) (18,740) n 27 Increase in transfer out to Capital Reserve fund (to cover Adams ES renovation lease ) (232,006) r 28 Decrease transfer out to Risk Mgmt. Fund based on recalculation pupil count projection 18,375 r 29 Increase transfer out to Risk Mgmt. Fund (projected increase in Food Service insurance premiums) (1,767) r 30 Add transfer out to Food Services Fund to cover state mandate for increased minimum wage (BMF PSS-3) (271,531) r 31 Decrease in transfer out to Capital Reserve based on increased pupil count projection 33,775 r 32 One-time transfer out to Capital Reserve for FY17 Adams portables 250,000 n 33 One-time transfer out to Capital Reserve for World Arena Lease (375,000) n 34 FY17 One-time transfer out to Employee Benefits Fund to reestablish reserves 1,000,000 n 35 One-time transfer out to Print Production for FY17 copier purchase 400,000 n 36 Transfer In from Print Production to reimburse for FY17 copier purchase (first of five annual payments) 80,000 r 37 One-time FY17 transfer in - MLO Fund (431,660) n Total Federal Revenue & Interfund Transfers 451,446 Total Revenue Increase 4,947,930 Total Increases in Revenue & Other Resources: 7,308, May 31, 2017

19 Proposed Budget Modifications General Fund FY Increase/Decrease Sources & Uses Increases ( Decreases) in Expenditures & Uses: Program Number r- recurring, n- non-recurring Program Description Increase (Decrease) Instructional Services- ( to 18000) 38 PERA & medical insurance premium increases (FY18 projection) Various General Instruction 627,559 r 39 FY18 teacher salary differential (FY18 projection) Various General Instruction (1,042,506) r 40 FY18 salary & benefits adjustments (FY18 projection) Various General Instruction 115,479 r 41 Teacher stipend requests (FY18 projection) Various General Instruction 50,000 r 42 Across the board half percent salary increase (FY18 projection) Various General Instruction 509,518 r 43 Across the board salary increase (non-recurring FY18 projection) Various General Instruction 1,019,041 n 44 Academic credits, 14/25 service increments (FY18 projection) Various General Instruction 626,160 r 45 Experience steps/increments (FY18 projection) Various General Instruction 1,786,447 r 46 Increase in instructional supplies carryover (mid-year adjusted) Various General Instruction 128,216 n 47 Projected increase in instructional supplies (FY17 projection) Various General Instruction (1,000,000) n 48 Projected increase in instructional supplies (FY18 projection) Various General Instruction 900,000 n 49 ESP across the board one-time salary increase (FY17 projection) Various General Instruction (83,198) n 50 Increase salary & benefits for ES lunchroom aides (BMF PSS-1) Elementary Education 33,925 r 51 Address new minimum wage law as it applies to teacher aides Elementary Education 454,177 r 52 Address new minimum wage law as it applies to temporary workers Elementary Education 119,417 r 52 Funds to cover cost of AP exams (FY17 Projection) General HS Instruction (185,827) n 53 Funds to cover cost of AP exams (BMF SUP-1A) General HS Instruction 176,827 r Support awareness, outreach, and implementation of individual career and Post-Secondary Enrollment academic plans (BMF SUP-3) 50,000 n 55 Funds to cover cost of IB exams (FY17 Projection) 007IB IB (53,700) n 56 Funds to cover cost of IB exams (BMF SUP-1B) 007IB IB 62,700 n Licensing, training, and consultation to implement a web-based 57 Various General Instruction platform (BMF SUP-2) 148,610 n 58 Budget manager's reallocation to Supervision of Career Tech 009VE Career and Technical Education (45,139) r 59 Summer enrichment programs at various schools (Projected FY17 costs) 009SL Summer Literacy (489,236) n 60 Summer enrichment programs at various schools (Projected FY18 costs) 009SL Summer Literacy 489,236 n 61 Projected decrease in Athletics insurance premiums Athletics (13,390) r Total Instructional Services - (00900 to 18000) 4,384,316 Student Support Services- (21000) 62 PERA & medical insurance premium increases (FY18 projection) Various Student Support Services 110,407 r 63 FY18 teacher salary differential (FY18 projection) Various Student Support Services (70,889) r 64 FY18 salary & benefits adjustments (FY18 projection) Various Student Support Services 109,339 r 65 Across the board half percent salary increase (FY18 projection) Various Student Support Services 52,554 r 66 Across the board salary increase (non-recurring FY18 projection) Various Student Support Services 105,105 n 67 Experience steps/increments (FY18 projection) Various Student Support Services 188,083 r 68 ESP across the board one-time salary increase (FY17 projection) Various Student Support Services (5,611) n Total Student Support Services- (21000) 488,988 Instructional Staff Support Services- (22000) 69 PERA & medical insurance premium increases (FY18 projection) Various Instructional Staff Support 38,898 r 70 FY18 teacher salary differential (FY18 projection) Various Instructional Staff Support (208,054) r 71 FY18 salary & benefits adjustments (FY18 projection) Various Instructional Staff Support 17,885 r 72 Across the board half percent salary increase (FY18 projection) Various Instructional Staff Support 50,925 r 73 Across the board salary increase (non-recurring FY18 projection) Various Instructional Staff Support 112,659 n 74 Experience steps/increments (FY18 projection) Various Instructional Staff Support 199,851 r 75 ESP across the board one-time salary increase (FY17 projection) Various Instructional Staff Support (20,192) n 76 Fund D-11 Cohort (Projected carryover of FY16 unspent funds) Achieve Team (813,209) n 77 Fund D-11 Cohort create new reserve for future projects Achieve Team 1,000,000 n 78 Fund Patti Pierce.6 FTE (140 day) supervision salary & benefits Achieve Team 66,000 n 79 Increase budget for auto allowance Supervision of SPED 6,120 r 80 Budget manager reallocation from 009VE Supervision of Career Tech 45,139 r Increase budget to cover rising need in translation & interpreter services Supervision of Multilingual (BMF ICCS-2) Program 8,000 r Associated costs for curriculum development & capstone project implementation Supervision - Summer (FY17 projection) Literacy Program (86,343) n 83 Summer enrichment programs at various schools (Projected FY18 costs) Supervision - Summer Literacy Program 86,058 n Total Instructional Staff Support Services- (22000) 503, May 31, 2017

20 Proposed Budget Modifications General Fund FY Increase/Decrease Sources & Uses r- recurring, n- non-recurring General Administration Services- (23000) 84 PERA & medical insurance premium increases (FY18 projection) Various General Administration 3,966 r 85 Across the board half percent salary increase (FY18 projection) Various General Administration 7,390 r 86 FY18 salary & benefits adjustments (FY18 projection) Various General Administration (27,587) r 87 Across the board salary increase (non-recurring FY18 projection) Various General Administration 5,472 n 88 Experience steps/increments (FY18 projection) Various General Administration 6,718 r 89 ESP across the board one-time salary increase (FY17 projection) Various General Administration (1,942) n 90 Election year election costs (FY17 adjustment to actual) Election Services (144,923) n 91 Election year election costs (FY18 projection) Election Services 200,000 n Total General Administration Services- (23000) 49,094 School Administration- (24000) 92 PERA & medical insurance premium increases (FY18 projection) Various School Administration 47,982 r 93 Across the board half percent salary increase (FY18 projection) Various School Administration 74,289 r 94 Across the board salary increase (non-recurring FY18 projection) Various School Administration 148,569 n 95 FY18 salary & benefits adjustments (FY18 projection) Various School Administration (262,388) r 96 Experience steps/increments (FY18 projection) Various School Administration 313,450 r 97 ESP across the board one-time salary increase (FY17 projection) Various School Administration (54,617) n 98 Increase budget for elementary lunchroom aides (BMF PSS-1) Various School Administration 33,925 r 98 Increase in non-instructional supplies carryover (mid-year adjusted) School Administration 16,759 n 99 Increase in non-instructional supplies carryover (FY18 Projection) School Administration 300,000 n 100 Additional non-instructional supply carryover reserve School Administration 500,000 n 101 Portable buildings for two TBD elementary schools (BMF ICSS-1) School Administration 300,000 n Provide teacher aide supplemental pay and benefits for Professional Learning School Administration Centers (PLC) 67,942 r 103 Adams/Hunt move budget (adjust to actual) Other School Administration Support Services (13,648) n Total Support Services School Administration- (24000) 1,472,263 Business Services- (25000) 104 PERA & medical insurance premium increases (FY18 projection) Various Business Services 9,388 r 105 Across the board half percent salary increase (FY18 projection) Various Business Services 13,556 r 106 Across the board salary increase (non-recurring FY18 projection) Various Business Services 19,100 n 107 FY18 salary & benefits adjustments (FY18 projection) Various Business Services 8,813 r 108 Experience steps/increments (FY18 projection) Various Business Services 40,280 r 109 ESP across the board one-time salary increase (FY17 projection) Various Business Services (4,874) n 110 Increase courier service budget Mail & Postage 18,385 r Total Business Services- (25000) 104,648 Operation and Maintenance of Plant Services- (26000) 111 PERA & medical insurance premium increases (FY18 projection) Various O & M of Plant Services 87,920 r 112 Across the board half percent salary increase (FY18 projection) Various O & M of Plant Services 68,870 r 113 Across the board salary increase (non-recurring FY18 projection) Various O & M of Plant Services 192,386 n 114 Experience steps/increments (FY18 projection) Various O & M of Plant Services 301,941 r 115 FY18 salary & benefits adjustments (FY18 projection) Various O & M of Plant Services (82,192) r 116 ESP across the board one-time salary increase (FY17 projection) Various O & M of Plant Services (119,012) n 117 Summer enrichment custodial coverage (FY17 projection) Operations (Custodians) (4,590) n 118 Summer enrichment programs custodial coverage (Projected FY18 costs) Operations (Custodians) 4,590 n 119 Increase budget for auto allowance Operations (Custodians) 900 r 120 Add one asbestos certification stipend Building Maintenance 1,200 r 121 Decrease in projected natural gas budget requirements Utilities (250,000) r 122 Replace analog surveillance camera systems (FY17 BMF TS-1) Security (200,000) n 123 Replace analog surveillance camera systems (FY18 TS-1) Security 200,000 n 124 Summer enrichment security coverage (FY17 projection) Security (4,074) n 125 Summer enrichment programs security coverage (Projected FY18 costs) Security 4,074 n Total Operation and Maintenance of Plant Services- (26000) 202,013 Student Transportation Services- (27000) 126 PERA & medical insurance premium adjustments (FY18 projection) Various Student Transportation (3,075) r 127 Across the board half percent salary increase (FY18 projection) Various Student Transportation 16,002 r 128 FY18 salary & benefits adjustments (FY18 projection) Various Student Transportation 2,159 r 129 Across the board salary increase (non-recurring FY18 projection) Various Student Transportation 32,004 n 130 Experience steps/increments (FY18 projection) Various Student Transportation 70,348 r 131 ESP across the board one-time salary increase (FY17 projection) Various Student Transportation (28,579) n 132 Projected decrease in Student Transportation insurance premiums Transportation Supervision (37,557) r 132 Address new minimum wage law as it applies to transportation workers Vehicle Operations Services 4,837 r 133 Projected decrease in motor vehicle fuels Vehicle Operations Services (100,000) r Total Student Transportation Services- (27000) (43,861) 16 May 31, 2017

21 Proposed Budget Modifications General Fund FY Increase/Decrease Sources & Uses r- recurring, n- non-recurring Central Services- (28000) 134 PERA & medical insurance premium increases (FY18 projection) Various Central Services 23,830 r 135 Across the board half percent salary increase (FY18 projection) Various Central Services 26,333 r 136 FY18 salary & benefits adjustments (FY18 projection) Various Central Services (3,159) r 137 Across the board salary increase (non-recurring FY18 projection) Various Central Services 44,485 n 138 Experience steps/increments (FY18 projection) Various Central Services 92,799 r 139 ESP across the board one-time salary increase (FY17 projection) Various Central Services (7,105) n 140 Transfer of budget to Volunteer Services to fund EZ Volunteer Relatrix software Community Relations Services (5,500) r Non-Instructional Staff 141 Increase Exec./Pro professional development fund budget (PDF) Development 22,200 r 142 Decrease E-rate distribution for technology equipment (FY17 expenditure) Network Services (198,000) n Total Central Services- (28000) (4,117) Other Services- (29000) 143 PERA & medical insurance premium increases (FY18 projection) Various Other Services 1,914 r 144 Across the board half percent salary increase (FY18 projection) Various Other Services 812 r 145 Across the board salary increase (non-recurring FY18 projection) Various Other Services 1,625 n 146 Experience steps/increments (FY18 projection) Various Other Services 3,402 r 147 FY18 salary & benefits adjustments (FY18 projection) Various Other Services 5,278 r 148 ESP across the board one-time salary increase (FY17 projection) Volunteer Services (414) n Transfer of budget from Community Relations Services to fund EZ Volunteer Volunteer Services Relatrix software 5,500 r Total Other Services- (29000) 18,117 Community Services- (30000) 150 PERA & medical insurance premium increases (FY18 projection) Various Community Services 5,624 r 151 Across the board half percent salary increase (FY18 projection) Various Community Services 1,845 r 152 Across the board salary increase (non-recurring FY18 projection) Various Community Services 3,689 n 153 Experience steps/increments (FY18 projection) Various Community Services 7,935 r 154 ESP across the board one-time salary increase (FY17 projection) Various Community Services (2,175) n 155 FY18 salary & benefits adjustments (FY18 projection) Various Community Services 1,165 r 156 Provide crossing guards for Summer Literacy program (FY17 projection) Crossing Guard Services (11,803) n 157 Increase budget due to projected increased revenue Adult Basic Ed 11,798 r Total Community Services- (30000) 18,078 Facilities Acquisition and Construction Services- (40000) 158 Purchase portable building for curriculum storage Modulars 130,000 n 159 Purchase security door hardware for schools Door Locks 250,000 n Total Facilities Acquisition and Construction Services- (40000) 380,000 Reserve Funds- ( ) 160 decrease in projected unassigned fund balance Contingency (122,799) n 161 Eliminate reserve for future PERA increases with FY18 being final year PERA (1,200,000) n 162 Create reserve for final operating transfer to Capital Reserve Fund in FY Energy Lease 457,008 n 163 increase encumbrance carryover, (FY17 end-of-year adjustment) Reserve for Encumbrances 600,826 n Total Reserve Funds (264,965) Total Increases in Expenditures & Reserves 7,308, May 31, 2017

22 General Fund (Preschool & Risk Mgmt. Funds not Included) Proposed Budget - FY Expenditure Summary by Program Actual Audited Expenditures FY FY FY DESCRIPTION AMOUNT % AMOUNT % AMOUNT % Instructional Services - Instructional Services 119,609, % 121,859, % 130,818, % - Post Employment Benefits 550, % 917, % 861, % TOTAL Instructional Services 120,160, % 122,776, % 131,680, % Pupil Support Services 9,933, % 10,230, % 11,743, % Instructional Support Services 11,849, % 12,632, % 13,772, % TOTAL Student Support 21,783, % 22,862, % 25,515, % TOTAL Instruction and Student Support 141,943, % 145,639, % 157,196, % General Administration 2,640, % 2,442, % 2,529, % School Administration 17,430, % 17,583, % 18,879, % Business Administration 2,067, % 2,177, % 2,324, % Student Transportation Services 3,809, % 3,679, % 4,047, % Central Services 7,816, % 7,508, % 7,354, % Security Services 2,480, % 2,713, % 2,862, % Maintenance & Operations 13,863, % 15,406, % 16,344, % Utilities 4,669, % 4,652, % 4,381, % TOTAL Security, M&O & Utilities 21,013, % 22,771, % 23,587, % Other Services 202, % 199, % 231, % - Post Employment Benefits 655, % 542, % 474, % Community Services 755, % 841, % 912, % Construction Services 443, % 90, % 6, % TOTAL Administration and Support Services 56,835, % 57,837, % 60,347, % TOTAL Expenditures 198,778, % 203,476, % 217,544, % Non-Recurring Fund Balance - Restricted TABOR Emergency Restricted for Multi-Year Obligations Committed, PERA Assigned, Encumbrance Carryover Assigned, Teacher Assigned, IT Programs Assigned for Energy Lease Payments Unassigned, Contingency Unassigned, Unanticipated Total Non-Recurring Fund Balance TOTAL Expenditures and Fund Balance $198,778,763 $198,778,763 $217,544, May 31, 2017