Springdale School District #50 Springdale, Arkansas

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1 Springdale, Arkansas Funds 1, 2 & Fiscal Year Budget July 1, June 30, 2014

2 SPRINGDALE PUBLIC SCHOOLS Financial Summary (Funds 1, 2, & 4) Balance forward July 1, 2012 $ 14,796,435 REVENUE Property Taxes $ 58,210,537 State Foundation $ 85,782,650 State Designated Funding $ 22,589,020 Other Sources $ 778,710 $ 167,360,917 EXPENDITURES Teacher Salary Fund: Certified Salaries $ 84,568,815 Operating Fund: Instructional/Pupil Support $ 34,688,296 District Administration/Principals $ 7,338,016 Operations & Maintenance $ 17,946,744 Transportation $ 5,509,818 Other $ 185,514 Transfers $ 5,800,000 Debt Service Fund: Debt Payments $ 9,877,422 $ 165,914,625 Ending Balance June 30, 2013 $ 16,242,727 Page 2

3 SPRINGDALE PUBLIC SCHOOLS BUDGET SUMMARY (Funds 1, 2, & 4) Balance forward July 1, 2013 $ 16,242,727 REVENUE Property Taxes $ 59,524,000 State Foundation $ 91,807,389 State Designated Funding $ 19,395,658 Other Sources $ 395,000 $ 171,122,047 EXPENDITURES Teacher Salary Fund: Certified Salaries $ 90,097,435 Operating Fund: Instructional/Pupil Support $ 37,486,496 District Administration/Principals $ 8,294,728 Operations & Maintenance $ 20,360,201 Transportation $ 5,799,397 Other $ 224,620 Debt Service Fund: Debt Payments $ 9,595,843 $ 171,858,721 PROJECTED BALANCE June 30, 2014 $ 15,506,053 Page 3

4 Revenue Comparison (Funds 1, 2, & 4) Budgeted Actual Incr/(Decr) %Incr/Decr Property Taxes - Current $ 49,285,000 $ 48,109,133 $ 1,175,867 Property Tax Relief/Sales Tax $ 4,265,000 $ 4,196,269 $ 68,731 Delinquent Prop. Taxes $ 3,870,000 $ 3,804,330 $ 65,670 Excess Commission $ 1,935,000 $ 1,926,994 $ 8,006 0% Land Redemption $ 45,000 $ 44,717 $ 283 1% Penalties/Interest on Tax $ 100,000 $ 104,708 $ (4,708) -4% In Lieu of Taxes $ 24,000 $ 24,386 $ (386) - Misc. Local Revenue $ 300,000 $ 588,919 $ (288,919) -49% State Foundation Aid $ 91,807,389 $ 85,782,650 $ 6,024,739 7% Student Growth Funding $ - $ 3,885,759 $ (3,885,759) -100% Mentoring $ 100,000 $ 58,180 $ 41,820 7 Special Ed. Assistance $ 160,000 $ 234,370 $ (74,370) -3 Residential Treatment $ 1,800,000 $ 1,946,433 $ (146,433) -8% Catastrophic Occurence $ 350,000 $ 406,897 $ (56,897) -14% Vocational Startup Funding $ - $ 4,421 $ (4,421) -100% Early Childhood (Pre-K) $ 3,139,560 $ 2,622,942 $ 516,618 20% General Facilities $ 50,334 $ 75,502 $ (25,168) -33% Professional Development $ 887,703 $ 837,867 $ 49,836 6% Alternative Learning $ 1,789,589 $ 1,602,201 $ 187,388 1 LEP Allocation $ 2,736,800 $ 2,633,980 $ 102,820 4% NSLA Funding $ 7,224,646 $ 6,822,508 $ 402,138 6% Bonded Debt Assistance $ 1,073,026 $ 1,048,880 $ 24,146 Misc. State Revenue $ 84,000 $ 409,080 $ (325,080) -79% Other Revenue $ 95,000 $ 189,791 $ (94,791) -50% $ 171,122,047 $ 167,360,917 $ 3,761,130 Budgeted BREAKDOWN Property Taxes $ 59,524, % State Foundation Aid $ 91,807, % State Designated Funding $ 19,395, % Other Sources $ 395, TOTAL $ 171,122,047 Page 4

5 Projected Revenues Funds 1,2, State Designated Funding 11.3% Other Sources 0. Property Taxes 34.8% State Foundation Aid 53.7% Page 5

6 Projected Revenues Funds 1,2, State Designated Funding 13.5% Other Sources 0.5% Property Taxes 34.8% State Foundation Aid 51.3% Page 6

7 Expenditure Comparison (Funds 1, 2, & 4) Budgeted Actual FUND 1 - Teachers Salary Incr/(Decr) %Incr/Decr Regular Education $ 54,430,930 $ 50,962,375 $ 3,468,555 7% Special Education $ 6,750,152 $ 6,054,739 $ 695,413 11% Vocational Education $ 3,866,614 $ 3,751,112 $ 115,502 3% Other Instruction $ 8,434,100 $ 7,752,783 $ 681,317 9% Support Services (Student) $ 3,571,416 $ 3,220,466 $ 350,950 11% Support Services (Instruct Staff) $ 6,238,014 $ 6,261,483 $ (23,469) 0% District Administration $ 1,062,293 $ 1,092,239 $ (29,946) -3% School Administration $ 5,743,916 $ 5,473,618 $ 270,298 5% TOTAL FUND 1 $ 90,097,435 $ 84,568,815 $ 5,528,620 7% FUND 2 - Operating Budget Regular Education $ 18,365,016 $ 17,131,954 $ 1,233,062 7% Special Education $ 3,856,080 $ 3,758,334 $ 97,746 3% Vocational Education $ 1,204,320 $ 1,115,639 $ 88,681 8% Other Instruction $ 5,665,407 $ 5,537,071 $ 128,336 Support Services (Student) $ 3,270,124 $ 2,945,816 $ 324,308 11% Support Services (Instruct Staff) $ 5,125,549 $ 4,199,482 $ 926,067 2 District Administration $ 1,147,351 $ 1,002,374 $ 144,977 14% School Administration $ 4,478,662 $ 4,034,712 $ 443,950 11% Central Services $ 2,668,715 $ 2,300,930 $ 367,785 16% Operations & Maintenance $ 20,360,201 $ 17,946,744 $ 2,413,457 13% Student Transportation $ 5,799,397 $ 5,509,818 $ 289,579 5% Other Supporting Services $ 224,620 $ 185,514 $ 39,106 21% TOTAL FUND 2 $ 72,165,443 $ 65,668,388 $ 6,497,055 10% FUND 4 - Debt Service Fund Dues and Fees $ 5,000 $ 4,444 $ % Interest on Bonds $ 6,810,843 $ 6,632,978 $ 177,865 3% Principal on Bonds $ 2,780,000 $ 3,240,000 $ (460,000) -14% TOTAL FUND 4 $ 9,595,843 $ 9,877,422 $ (281,579) -3% $ - TOTAL FUNDS 1, 2, & 4 $ 171,858,721 $ 160,114,625 $ 11,744,096 7% Page 7

8 Springdale School District Projected Expenditures by Function Funds 1,2,& Other Supporting Services, $224,620, 0% Debt Service, $9,595,843, 6% Student Transportation, $5,799,397, 4% Operations & Maintenance, $20,360,201, 1 Regular Education, $72,795,946, 43% School Administration, $10,222,578, 6% District Administration, $2,209,644, 1% Staff Support Services, $11,363,563, 7% Student Support Services, $5,807,939, 4% Special Education, $10,606,232, 6% Other Instruction, $14,099,507, 8% Vocational Education, $5,070,934, 3% Page 8

9 Springdale School District Expenditures by Function Funds 1, 2, & Other Supporting Services, $185,514, 0% Debt Service, $9,877,422, 6% Student Transportation, $5,509,818, 4% Operations & Maintenance, $17,946,744, 11% Regular Education, $68,094,329, 43% School Administration, $9,508,330, 6% District Administration, $2,094,613, 1% Staff Support Services, $10,460,965, 7% Student Support Services, $5,732,600, 4% Other Instruction, $13,289,854, 9% Vocational Education, $4,866,751, 3% Special Education, $9,813,073, 6% Page 9

10 Federal Grants Summary Fund Source of Funds Funds Description st Century $ 600,000 After school programs 6501 Title I $ 4,917,492 Struggling learners 6502 Title I Migrant $ 264,491 Migrant students 6510 Title I Part D $ 72,537 Struggling learners 6563 CCDF (Pre K) $ 845,536 Additional PreK classrooms 6570 Carl Perkins $ 288,695 Jr High and High School Vocational Programs 6702 VI B $ 4,081,342 Students with disabilities 6750 Medicaid $ 60,000 Students with disabilities 6751 Medicaid Nurses $ 130,000 Health services 6752 Armac $ 325,000 Health services 6756 Title IIA $ 407,901 Professional Development 6761 Title III $ 810,826 English Language Learners Totals $ 12,803,820 Springdale School District #50 Food Service Fund Summary Source of Funds Projected Revenue Paid Meals $ 2,050,000 State Aid $ 75,000 Federal Aid $ 9,500,000 Totals $ 11,625,000 Page 10