Business Office Fort Ringgold Rio Grande City, Texas 78582 Phone: (956) 716-6710 Fax: (956) 716-6610
Rio Grande City CISD Rio Grande City, Texas 2014-2015 Proposed Annual Budget For Fiscal Year September 1, 2014 August 31, 2015
2014-2015 PROPOSED ANNUAL BUDGET TABLE OF CONTENTS Citizen's Guide to Our Budget..... Board of Trustees, Superintendent, and Finance Staff..... PAGE ii iii GENERAL OPERATING FUND (199) General Operating Fund and Debt Service Fund Proposed Annual Budget.... 1 General Operating Fund - Major Revenues. 2-3 Statement of Revenues, Expenditures, and Changes in Fund Balance... 4 Estimated Revenues - General Operating Fund... 5 Summary of Total Revenue by Major Source... 6 Preliminary 2014-2015 Estimate of State Aid (TEA State Template)... 7-8 Minimum Required Expense Analysis.... 9 Budget Expenditures by Object... 10 Budget Expenditures by Function.. 11 CHILD NUTRITION PROGRAM Child Nutrition Program Fund Summary... 12 Fund 101 - Statement of Revenues, Expenditures, and Changes in Fund Balance... 13 DEBT SERVICE FUND Debt Service Fund Summary.............. 14 Fund 516 - Statement of Revenues, Expenditures, and Changes in Fund Balance. 15 Fund 516 - Statement of Estimated Revenues... 16 Outstanding Debt Schedule - Principal & Interest for Bond Loans... 17 SPECIAL REVENUE Summary of Special Revenue (information only).......... 18 i
CITIZEN'S GUIDE TO OUR BUDGET WHAT IS A DISTRICT BUDGET? The District budget is an annually revised document that describes the financial performance and the detailed allocations made to maintain district operations for the proposed budget year. financial WHAT IS THE PURPOSE OF A BUDGET? The objective of the budget is to communicate the financial plan about district operations to the public, the Rio Grande City Consolidated Independent School District (RGCCISD) Board of Trustees, and all members of the organization for each budget year. WHAT ARE PROPERTY TAXES? Property taxes are funds that are levied, assessed and collected annually (ad valorem taxes) for the further maintenance of public schools in the district and to pay bonds issued by the school district. WHAT IS A TAX RATE? It is the amount of dollars levied per $100 of taxable value (after exemptions). The resulting amount is called Ad Valorem Taxes. WHAT IS AD VALOREM TAX? Ad Valorem Tax is the Property Tax (after exemptions) that is placed on all the property within the district's jurisdiction. The appraised value is determined by the Starr County Appraisal District. HOW ARE PROPERTY TAXES CALCULATED? The taxable value (after exemptions) divided by 100 and multiplied by the tax rate: Average Appraised Value $ 39,247 Less Homestead Exemption 15,000 Total Taxable Value $ 24,247 RGCCISD Tax Rate 1.4472 $ 24,247 $ 242.47 x 1.4472 = $ 350.91 Total Property Tax Due = $ 100 WHERE CAN I GET ADDITIONAL INFORMATION ABOUT RGCCISD AND THE DISTRICT BUDGET? Rio Grande City CISD Fort Ringgold Rio Grande City, TX 78582 ii
2014-2015 BOARD OF TRUSTEES, SUPERINTENDENT & FINANCE STAFF BOARD OF TRUSTEES Basilio D. Villarreal, Jr. President Roberto Gutierrez Vice-President Cesar Gonzalez Secretary Daniel J. Garcia Noe R. Gonzalez Ruben Klein Leonel Lopez, Jr. Member Member Member Member SUPERINTENDENT & FINANCE STAFF Thelma Ruelas Oneida Balderas Ludivina Cansino Lourdes M. Luna David O. Flores Juan Ruiz Asst. Supt. for Finance and Operations Compliance Auditor - Supervisor Accounting Supervisor Accountant Accountant Data Programmer Roel A. Gonzalez Superintendent of Schools iii
PROPOSED ANNUAL BUDGET FISCAL YEAR 2014-2015 Fund Description Fund Estimated Transfers Balance Revenues Appropriations (Out) / In Difference GENERAL FUNDS: 101 Child Nutrition Program - 8,848,675 8,848,675 - - 199 Operating Fund (G/Fund) 3,929,698 97,799,600 101,729,298 - - Total 3,929,698 106,648,275 110,577,973 - - DEBT SERVICE FUNDS: 516 Debt Service - I & S - 9,386,972 9,386,972 - - Total - 9,386,972 9,386,972 - - Total 3,929,698 116,035,247 119,964,945 - - 1
2014-2015 GENERAL OPERATING FUND MAJOR REVENUES The Revenues for the General Funds are $106,648,275. Non-cash revenues are $4,384,526 which includes on behalf payments for the Teacher Retirement System. The net cash revenues for the District are $ 102,263,749. LOCAL REVENUES TAXES Property Taxes: Total assessed valuation for 2014-2015 is $ 1,082,338,110. The District will budget 97% of the estimated tax levy. The proposed tax rate is $ 1.4472 (M&O $1.17and I&S $ 0.2772) for a total estimated tax collection of $ 15,196,782 (M&O $ 12,297,020 and I&S $ 2,899,762). Prior Year Taxes: The District budgeted $900,000 for prior year taxes. The District contracts with a law firm to collect prior taxes. Collection efforts by the Tax Office include mail outs, working with the Tax Attorney to file suit on properties, and foreclosure. A 15% commission is charged by the law firm and passed through to the taxpayers for the years that a 15% fee was assessed. OTHER REVENUES RELATED TO TAXES (PENALTY & INTEREST) Fiscal Year 2014-2015: The District estimates to collect $ 600,000 for penalties, interest, tax certificates and attorney fees. INTEREST EARNINGS Fiscal Year 2014-2015: The District expects to continue to invest all of its available cash into liquid transactions. The District will continue to invest in bank certificates of deposits to utilize these funds to maximize its returns. Total interest earnings of $ 63,000 is reflected in the budget. 2
2014-2015 GENERAL OPERATING FUND MAJOR REVENUES STATE PROGRAM REVENUES AVAILABLE SCHOOL FUND Fiscal Year 2014-2015: The District's pupil projection is based on last year's ADA. The projected refined Average Daily Attendance (ADA) is 9,999. It is projected that $ 2,579,854 will be generated for this year. FOUNDATION SCHOOL PROGRAM Fiscal Year 2014-2015: The projected ADA is 9,999. It is projected that $ 76,603,800 will be generated for this year from the Foundation School Program. FEDERAL PROGRAM REVENUES Fiscal Year 2014-2015: The District estimates $900,000 for revenues for SHARS and revenue distributed by Federal Government $ 100,000. OTHER ON-BEHALF TRS PAYMENTS This source is a non-cash transaction that the District is required to record. The State of Texas and the Governmental Accounting Standards Board, Statement No. 24 mandates this requirement. This amount constitutes the amount of retirement payments (contributions) made by the State on behalf of the District for all of its employees. The intent of this transaction is to account for the entire cost of providing school services in the State of Texas. Fiscal Year 2014-2015: The projected amount for this year is $ 4,384,526. 3
RIO GRANDE CITY CONSOLIDATED INDEPENDENT SCHOOL DISTRICT STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE GENERAL OPERATING FUND (199) FOR THE FISCAL YEAR ENDING AUGUST 31, 2015 Revenues 2014-2015 PROPOSED Local Sources 13,231,420 State Sources 83,568,180 Federal Sources 1,000,000 Total Revenues 97,799,600 Expenditures by Function 11 Instruction 52,547,483 12 Instructional Resources and Media Services 2,236,506 13 Curriculum Development & Instructional Staff Development 812,988 21 Instructional Leadership 1,711,315 23 School Leadership 6,456,931 31 Guidance, Counseling, and Evaluation Services 3,253,085 32 Social Work Services 18,000 33 Health Services 1,411,210 34 Student (Pupil) Transportation 4,081,624 36 Co-curricular/Extracurricular Activities 4,265,686 41 General Administration 3,948,278 51 Plant Maintenance and Operations 14,159,141 52 Security and Monitoring Services 2,305,376 53 Data Processing Services 327,014 61 Community Services 135,248 71 Debt Service - Principal on Long-Term Debt 646,644 Debt Service - Interest on Long-Term Debt Debt Service - Bond Issuance Cost & Fees 81 Facilities Acquisition and Construction 2,942,769 99 Other Intergovernmental Charge 470,000 Total Expenditures 101,729,298 Excess/(Deficiency) of Revenues Over/(Under) Expenditures (3,929,698) Other Other Financing Sources (Uses): Transfers Out (Use) Prior-Period Adjustment Net Extraordinary Items (Resources) Net Changes in Fund Balance (3,929,698) 4
RIO GRANDE CITY CONSOLIDATED INDEPENDENT SCHOOL DISTRICT ESTIMATED REVENUES - GENERAL OPERATING FUND (199) FOR THE YEAR ENDING AUGUST 31, 2015 LOCAL SOURCES: 2014-2015 PROPOSED Current Year Taxes 11,397,020 Delinquent Levy (Taxes, Prior Years) 900,000 Penalty & Interest Current Year 600,000 Interest Earnings - Investment Securities 63,000 Miscellaneous Revenues 271,400 Total Local Sources 13,231,420 STATE SOURCES: Available School Fund 2,579,854 Foundation School Fund 76,603,800 TRS on Behalf Benefit 4,384,526 Other State Revenue Total State Sources 83,568,180 FEDERAL SOURCES: Federal Revenue Distributed by Federal Government 100,000 Medicaid Reimbursement (SHARS) 900,000 Total Federal Sources 1,000,000 TOTAL REVENUES 97,799,600 5
RIO GRANDE CITY CONSOLIDATED INDEPENDENT SCHOOL DISTRICT SUMMARY OF TOTAL REVENUES BY MAJOR SOURCE GENERAL OPERATING FUND (199) FOR THE FISCAL YEAR ENDING AUGUST 31, 2015 2014-2015 PROPOSED LOCAL REVENUES $ 13,231,420 STATE REVENUES 83,568,180 FEDERAL REVENUES 1,000,000 $ 97,799,600 TOTAL REVENUES BY MAJOR SOURCE 2014-2015 FEDERAL REVENUES 1.02% LOCAL REVENUES 13.53% STATE REVENUES 85.45% 6
District Name: Rio Grande City CISD SB 1: 12-13 : 16-18 County-District No. 214-901 Release 5 Run Date: 22-Aug-14 5/22/2014 Summary of Finances - SB 1 2014-2015 School Year Funding Elements Students Refined Average Daily Attendance (ADA) 9,999.436 Regular Program ADA (Line 1 Line 3 - Line 4) 9,024.729 Special Education FTEs 348.546 Career and Technology FTEs 626.161 Advanced Career & Technology FTEs 0.000 High School ADA 2,730.330 Weighted ADA (WADA) 14,668.937 Prior Year Refined ADA 9,999.436 Texas School for the Blind and Visually Impaired ADA 0.000 Texas School for the Deaf ADA 0.000 Staff Full-time Staff (not MSS) 951 Part-time Staff (not MSS) 3 Property Values 2014 (current tax year) Locally Certified Property Value Not Needed 2013 (Prior Tax Year) State Certified Property Value ("T2" Value) 1,061,850,601 Tax Rates and Collections 2005 Adopted M&O Tax Rate 1.5000 2014 (current tax year) Compressed M&O Tax Rate 1.0000 Average Tax Collection Rate Not Needed 2014-15 (current tax year) M&O Tax Rate 1.1700 2014-15 (current school year) M&O Tax Collections $ 12,297,020 2014-15 (current school year) I&S Tax Collections $ 2,729,761 2014-15 Total Tax Collections $ 15,026,781 2014-15 (current school year) Total Tax Levy $ - Funding Components Adjusted Allotment $ 5,684 Revenue at Compressed Rate (RACR) per WADA $ 5,443 Cost of Education Index (CEI) 1.180 Adjusted CEI 1.180 Per Capita Rate $ 258.000 7
District Name: Rio Grande City CISD SB 1: 11-12 & 2014-15 County-District No. 214-901 Release 5 Run Date: 22-Aug-14 5/22/2014 Tier I Allotments Program Intent Codes - Allotment 11 Regular Program Allotment $ 51,296,560 23 Regular Special Adjustment Allotment (Spend 52% of Amount) $ 6,716,701 22 Career and Technology Allotment (Spend 58% of Amount) $ 4,804,784 21 Gifted & Talented Adjusted Allotment (Spend 55% of Amount) $ 340,547 30/34 Compensatory Education Allotment (Spend 52% of Amount) $ 11,763,550 25/35 Bilingual Education Allotment (Spend 52% of Amount) $ 3,436,787 11 Public Education Grant $ - 99 New Instructional Facilities Allotment (NIFA) $ - 99 Transportation Allotment $ 836,748 31 High School Allotment $ 750,841 Total Cost of Tier I $ 79,946,518 LESS: Local Fund Assignment $ 10,618,506 State Share of Tier I $ 69,328,012 Per Capita Distribution from the Available School Fund (ASF) $ 2,579,854 Foundation School Program (FSP) State Funding Greater of State Share of Tier I or (ASF+NIFA+HS) $ 69,328,012 Tier II $ 8,705,131 Other Programs $ 1,150,512 Less: Total ASF ($280* Prior Year ADA) $ (2,579,854) Total FSP Operating Fund $ 76,603,800 State aid by Funding Source Fund / Revenue Code 199 / 5812 FOUNDATION SCHOOL FUND $ 76,603,800 199 / 5811 AVAILABLE SCHOOL FUND - STATE PORTION $ 2,579,854 599 / 5829 EDA $ - 599 / 5829 INSTRUCTIONAL FACILITIES ALLOTMENT (BONDS) $ 6,267,385 TOTAL 2014-15 FSP/ASF STATE AID $ 85,451,039 ADDITIONAL INFO SUMMARY OF TOTAL STE/LOCAL M&O REVENUE: M&O Rev From State $ 79,183,655 M&O Rev From Local Taxes $ 10,510,274 M&O Rev From Local Taxes $ 630,616 M&O Rev From Local Taxes $ 1,156,130 2014-15 TOTAL STATE/LOCAL M&O REVENUE $ 91,480,675 Less: Credit Balance Due State $ - 2014-15 NET TOTAL STATE/LOCAL M&O REVENUE $ 91,480,675 8
MINIMUM REQUIRED EXPENSE ANALYSIS OF THE GENERAL OPERATING FUND FOR SCHOOL YEAR 2014-2015 TEA Difference Percentage Template Minimum Minimum Over / Difference Program Summary Required Required Percent (Under) Over/(Under) Intent Code Finance Percentage Amount Appropriation Appropriated Appropriated Appropriated Gifted & Talented Operational Grant 340,547 55% 187,301 187,413 100.1% 112 0.1% Career & Technology Block Grant 4,804,784 58% 2,786,775 3,314,937 119.0% 528,162 19.0% Services to Students with Disabilities 6,716,701 52% 3,492,685 8,474,328 242.6% 4,981,643 142.6% Compensatory Education Block Grant 11,763,550 52% 6,117,046 6,796,114 111.1% 679,068 11.1% Bilingual Education Grant 3,436,787 52% 1,787,129 1,977,156 110.6% 190,027 10.6% 27,062,369 14,370,935 20,749,948 6,379,013 9
RECAP OF GENERAL OPERATING FUND BUDGET EXPENDITURES BY OBJECT 2014-2015 PROPOSED 6100 Payroll 82,392,824 6200 Contracted Services 7,894,360 6300 Supplies & Materials 6,188,533 6400 Other Operating Exp. 3,584,245 6500 Debt Service 646,644 6600 Capital Outlay 1,022,692 101,729,298 BUDGET EXPENDITURES BY OBJECT CODE 2014-2015 Contracted Services 7.76% Supplies & Materials 6.08% Other Operating Exp. 3.52% Debt Service 0.64% Payroll 80.99% Capital Outlay 1.01% 10
RECAP OF GENERAL OPERATING FUND BUDGET EXPENDITURES BY FUNCTION 2014-2015 PROPOSED Instructional Related Services 55,596,977 Instructional and School Leadership 8,168,246 Support Services - Student 13,029,605 General Administration 3,948,278 Support Services - Non Student 16,791,531 Community Services 135,248 Debt Service 646,644 Facilities Acquisition and Construction 2,942,769 Other Intergovernmental Charge 470,000 101,729,298 TOTAL EXPENDITURES BY MAJOR FUNCTION 2014-2015 Support Services - Non Student 16.51% Facilities Acquisition and Construction Debt Service 2.89% 0.64% Community Services 0.13% Other Intergovernmental Charge 0.46% General Administration 3.88% Instructional Related Services 54.65% Support Services - Student 12.81% Instructional and School Leadership 8.03% 11
CHILD NUTRITION PROGRAM FUND A Child Nutrition Program Fund is accounted for as part of the Operating Fund. The District adopted Provision II, which allows all students to obtain a free meal. This fund utilizes the modified accrual basis of accounting and budgeting. An annual budget is approved by the Board in order to comply with T.E.A. requirements. Major Revenues: The Child Nutrition Program major revenue source comes from the National School Lunch and Breakfast Programs. For 2014-2015, the district budgeted $ 7,548,175 for this line items. The revenue is generated based on the number of meals served to students qualifying for a free or reduced meal. Major Expenditures: The major expenditures for this program are the purchase of food items and personnel cost. For 2014-2015, the district budgeted $ 4,837,500 and $ 3,390,475 respectively. 12
RIO GRANDE CITY CONSOLIDATED INDEPENDENT SCHOOL DISTRICT STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE CHILD NUTRITION PROGRAM (101) FOR THE FISCAL YEAR ENDING AUGUST 31, 2015 REVENUES 2014-2015 PROPOSED Local Sources 708,500 State Sources 42,000 Federal Sources 8,098,175 Total Revenues 8,848,675 EXPENDITURES BY FUNCTION 35 Food Services 8,618,675 51 Plant Maintenance & Operations 230,000 Total Expenditures 8,848,675 Excess / (Deficiency) of Revenues Over / (Under) Expenditures - 13
DEBT SERVICE FUND The Debt Service Fund is a governmental fund type, with budgetary control, that must be used to account for general long-term debt principal and interest for debt issues and other long-term debts for which a tax has been dedicated. A separate bank account must be kept for this fund. Principal and interest payments for operating indebtedness, including warrants, notes and short-term lease-purchase agreements, are to be made from the fund for which the debt was incurred. This fund utilizes the modified accrual basis of accounting. 14
RIO GRANDE CITY CONSOLIDATED INDEPENDENT SCHOOL DISTRICT STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE DEBT SERVICE FUND (516) FOR THE FISCAL YEAR ENDING AUGUST 31, 2015 Revenues 2014-2015 PROPOSED Local Sources 3,119,587 State Sources 6,267,385 Federal Sources - Total Revenues 9,386,972 Expenditures by Function 71 Debt Service 9,386,972 Total Expenditures 9,386,972 Excess/(Deficiency) of Revenues Over/(Under) Expenditures 0 Other Financing Sources (Uses) Transfers in 0 Premium on Issuance of Bonds 0 Other Financing Source 0 Net Changes in Fund Balance 0 15
RIO GRANDE CITY CONSOLIDATED INDEPENDENT SCHOOL DISTRICT STATEMENT OF ESTIMATED REVENUES DEBT SERVICE FUND (516) FOR THE FISCAL YEAR ENDING AUGUST 31, 2015 2014-2015 PROPOSED Local Sources Current Year Taxes 2,729,762 Delinquent Levy 170,000 Penalty & Interest Current Year 215,825 Interest on Checking Account 4,000 Total Local Sources 3,119,587 State Sources State Aid - IFA 6,267,385 Total State Sources 6,267,385 Total Revenues 9,386,972 Other Funding Sources: Other Financing - Transfer In - Operating - Premium of Issuance of Bonds - Other Resources - Total Other Resources - Total Revenues & Other Financing Sources 9,386,972 16
OUTSTANDING DEBT AMORTIZATION SCHEDULE FOR THE YEAR ENDING AUGUST 31, 2015 Fiscal Yr Outstanding General Obligation Debt Unlimited Tax School Building Bonds, Series 2013 Total Gen. % of 31-Aug Principal Interest Total Principal Interest Total Obligation Debt Principal Retired 2015 $ 3,760,000 $ 4,263,546 $ 8,023,546 $ 65,000 $ 1,289,325 $ 1,354,325 $ 9,377,871 2016 3,905,000 4,131,271 8,036,271 700,000 659,325 1,359,325 9,395,596 2017 4,055,000 3,977,846 8,032,846 715,000 645,325 1,360,325 9,393,171 2018 4,210,000 3,823,171 8,033,171 725,000 631,025 1,356,025 9,389,196 2019 4,370,000 3,660,574 8,030,574 740,000 616,525 1,356,525 9,387,099 19.61% 2020 4,545,000 3,488,061 8,033,061 765,000 594,325 1,359,325 9,392,386 2021 4,730,000 3,306,161 8,036,161 785,000 571,375 1,356,375 9,392,536 2022 4,945,000 3,095,411 8,040,411 805,000 547,825 1,352,825 9,393,236 2023 5,145,000 2,881,980 8,026,980 850,000 507,575 1,357,575 9,384,555 2024 5,365,000 2,662,055 8,027,055 895,000 465,075 1,360,075 9,387,130 43.94% 2025 5,605,000 2,433,278 8,038,278 935,000 420,325 1,355,325 9,393,603 2026 5,840,000 2,187,515 8,027,515 980,000 373,575 1,353,575 9,381,090 2027 4,190,000 1,937,425 6,127,425 1,030,000 324,575 1,354,575 7,482,000 2028 2,735,000 1,758,875 4,493,875 1,075,000 283,375 1,358,375 5,852,250 2029 2,865,000 1,629,525 4,494,525 1,110,000 244,913 1,354,913 5,849,438 66.19% 2030 2,995,000 1,494,025 4,489,025 1,150,000 208,838 1,358,838 5,847,863 2031 3,125,000 1,366,150 4,491,150 1,185,000 171,463 1,356,463 5,847,613 2032 3,260,000 1,232,700 4,492,700 1,225,000 131,469 1,356,469 5,849,169 2033 3,410,000 1,084,650 4,494,650 1,265,000 90,125 1,355,125 5,849,775 2034 3,560,000 929,700 4,489,700 1,310,000 45,850 1,355,850 5,845,550 85.16% 2035 3,725,000 767,850 4,492,850 4,492,850 2036 3,890,000 598,400 4,488,400 4,488,400 2037 4,070,000 421,350 4,491,350 4,491,350 2038 1,890,000 236,000 2,126,000 2,126,000 2039 1,965,000 160,400 2,125,400 2,125,400 98.27% 2040 2,045,000 81,800 2,126,800 2,126,800 100.00% Totals $ 100,200,000 $ 53,609,719 $ 153,809,719 $ 18,310,000 $ 8,822,208 $ 27,132,208 $ 180,941,927 (1) It is anticipated that approximately 67% of the District's debt service will be funded by the State's Instructional Facilities Allotment Program and the Existing Debt Allotment Program. The Instructional Facilities Allotment Program and the Existing Debt Allotment Program are subject to biennial appropriation by the Texas Legislature (see "CURRENT SCHOOL FINANCE SYSTEM"). 17
SPECIAL REVENUE (information only) FISCAL YEAR 2014-2015 Fund Description Estimated Revenues Special Revenue Funds: 211 Title I, Part A- Improving Basic Programs 5,251,478 212 Title I, Part C- Migrant 1,155,037 224 IDEA- Part B, Formula 1,702,240 225 IDEA- Part B, Preschool 17,057 255 Title II Part A (TPTR) 725,320 263 Title III Part A - LEP 722,408 265 21st CCLC 706,400 274 Gear Up 273,150 Total Special Revenue Funds: $10,553,090 18