Financial Services Executive Summary A great deal of emphasis is given to the preparation of a budget document. The organization of the document fulfills a number of needs. First and foremost, the budget document should reflect the District s roadmap of tying resources to goals. The document is prepared in a manner to help our constituents, staff, and Board of Education understand how resources are being utilized to address District priorities. The budget is the fuel that drives the engine of student performance. Castleberry ISD students are offered a wide array of challenging subjects to prepare them for their next field of endeavor. The District provides a rich program of both curricular and extra-curricular activities in which to participate. Tax Information School District Tax Rate M&O Rate I&S Rate Lake Worth 1.67 1.17 0.50 Crowley 1.65 1.17 0.48 Burleson 1.54 1.04 0.50 Keller 1.54 1.04 0.50 White Settlement 1.54 1.04 0.50 Eagle Mountain-Saginaw 1.54 1.04 0.50 Mansfield 1.5271 1.04 0.4871 Kennedale 1.514717 1.17 0.344717 Everman 1.51 1.17 0.34 Northwest 1.4525 1.04 0.4125 Aledo 1.4252 1.17 0.2552 Castleberry 1.3997 1.17 0.2297 Hurst-Euless-Bedford 1.375 1.04 0.34 Fort Worth 1.322 1.04 0.282 Azle 1.203 1.04 0.163 Godley 1.1955 0.9415 0.254 School District Tax Rate M&O Rate I&S Rate Lake Worth 1.67 1.17 0.50 Crowley 1.65 1.17 0.48 Kennedale 1.514717 1.17 0.344717 Everman 1.51 1.17 0.34 Aledo 1.4252 1.17 0.2552 Castleberry 1.3997 1.17 0.2297 Burleson 1.54 1.04 0.50 Keller 1.54 1.04 0.50 White Settlement 1.54 1.04 0.50 Eagle Mountain-Saginaw 1.54 1.04 0.50 Mansfield 1.5271 1.04 0.4871 Northwest 1.4525 1.04 0.4125 Hurst-Euless-Bedford 1.375 1.04 0.34 Fort Worth 1.322 1.04 0.282 Azle 1.203 1.04 0.163 Godley 1.1955 0.9415 0.254 18 School District Tax Rate M&O Rate I&S Rate Lake Worth 1.67 1.17 0.50 Burleson 1.54 1.04 0.50 Keller 1.54 1.04 0.50 White Settlement 1.54 1.04 0.50 Eagle Mountain-Saginaw 1.54 1.04 0.50 Mansfield 1.5271 1.04 0.4871 Crowley 1.65 1.17 0.48 Northwest 1.4525 1.04 0.4125 Kennedale 1.514717 1.17 0.344717 Everman 1.51 1.17 0.34 Hurst-Euless-Bedford 1.375 1.04 0.34 Fort Worth 1.322 1.04 0.282 Aledo 1.4252 1.17 0.2552 Godley 1.1955 0.9415 0.254 Castleberry 1.3997 1.17 0.2297 Azle 1.203 1.04 0.163
Budget Process Flow Map At-Risk 82.65% Low-Income 84.01% Limited-English-Proficient 33.76% Special Education 7.88% Career-Technical Education 21.43% Bilingual Education 17.33% Gifted and Talented 5.66% Title I 100.0% Student Enrollment Projections The district currently serves 4,076 students in grades pre-kindergarten through twelfth grade. The district operates three elementary schools, one middle school, one high school and two alternative campuses. Enrollment projections were developed using historical data of enrollment for prior years. In 2010-11, Templeton Demographics completed a student enrollment study that was also considered. These combined projections are updated annually and regular reports are presented to the Board of Education to explain the findings. 19
TIMELINE OF BUDGET DEVELOPMENT ACTIVITIES 2016-2017 School Year 20
REVENUE CLASSIFICATION 2015-2016 REVENUE CLASSIFICATION 2015-2016 LOCAL REVENUE STATE REVENUES PROPERTY TAXES $ 5,953,015 DELINQUENT TAX COLLECTIONS $ 85,000 PENALTY & INTEREST FROM DELINQUENT TAXES $ 75,000 INVESTMENT INTEREST $ 25,000 OTHER LOCAL REVENUE $ 95,200 ATHLETICS $ 52,400 TOTAL LOCAL REVENUES $ 6,285,615 STATE FUNDING $27,247,491 STATE GRANTS $ 596,859 TOTAL STATE REVENUES $27,844,350 FEDERAL REVENUES AND GRANTS FEDERAL REVENUES $ 100,000 FEDERAL GRANTS $ 5,021,112 TOTAL FEDERAL REVENUE AND GRANTS $ 2,170,647 TOTAL REVENUE $ 34,526,820 21
FIVE-YEAR Projected Consolidated Budget 2015-2016 2016-2017 2017-2018 2018-2019 2019-2020 Revenue: Taxable Value $443,564,948 $479,050,143 $517,374,155 $558,764,088 $603,465,215 New construction $3,147,756 $2,779,282 $3,001,624 $3,241,754 $3,501,095 Taxable Tax Base $456,743,887 $497,464,688 $537,261,863 $580,242,812 $626,662,237 Tax Rate/$100 Value $1.4155 $1.4200 $1.4200 $1.4200 $1.4200 Total to Collect $5,541,674 $5,985,008 $6,463,809 $6,980,913 $7,539,386 Frozen Levy $346,278 $377,720 $407,938 $440,573 $475,819 3% Uncollectable ($117,759) ($121,292) ($124,931) ($128,678) ($132,539) Local Taxes $5,872,395 $6,342,187 $6,849,562 $7,397,526 $7,989,329 Interest Current Yield $83,500 $85,170 $86,873 $88,611 $90,383 Miscellaneous $907,000 $925,140 $943,643 $962,516 $991,391 Total Local Revenue $6,380,395 $7,352,497 $7,880,078 $8,448,653 $9,071,103 State Revenue $28,442,936 $29,011,795 $29,592,031 $30,183,871 $30,787,549 Federal Revenue $4,629,886 $4,722,484 $4,816,933 $4,913,272 $5,011,538 Other Revenue (SHARS) Total Revenue $39,935,717 $41,086,776 $42,289,042 $43,545,796 $44,870,190 Expenditures: 6100-Payroll Cost $26,345,013 $26,871,913 $27,409,352 $27,957,539 $28,516,689 6200-contracted Services $2,792,735 $2,848,590 $2,905,562 $2,963,673 $3,022,946 6300-Supplies & Materials $4,897,517 $4,995,467 $5,095,377 $5,197,284 $5,301,230 6400-Other Operating Costs $1,346,083 $1,373,005 $1,400,465 $1,428,474 $1,457,044 6500-Debt Service $1,630,641 $1,663,254 $1,696,519 $1,730,449 $1,765,058 6600-Equipment $2,923,728 $3,334,547 $3,781,767 $4,268,377 $4,807,223 Total Expenditures $39,935,717 $41,086,776 $42,289,042 $43,545,796 $44,870,190 Effect on Fund Balance ($0) ($0) ($0) ($0) ($0) Fund Balance 22 Fund Balance is generated when revenue exceeds expenditures. Fund Balance is decreased when expenditures exceed revenue. Fund Balance is a cumulative balance that reflects the increases and decreases over time. Budget Assumptions Property values will increase by 8% over the next 4 years. The way the state funds school Districts will not change. Salary increases will be given each year. Inflation will increase other costs. Budget Risks Fixed costs will increase more that inflation, while revenue remains the same. Increased spending due to unfunded state and federal mandates, and changes to the local tax base will impact the budget.
FUND BALANCE Resolution #14-011 WHEREAS, the Governmental Accounting Standards Board ("GASB") has adopted Statement 54 ("GASB 54"), a new standard for government fund balance reporting and governmental fund type definitions that became effective in governmental fiscal years starting after June 15, 2010, and Castleberry Independent School District ("CISD") has implemented GASB 54 requirements and NOW THEREFORE BE IT RESOLVED that Castleberry ISD Board of Education commits the following portions of Fund Balance as follows: BE IT RESOLVED that the CISD commits the total fund balance of Child Nutrition and Interest and Sinking. (Restricted Funds). BE IT RESOLVED that the CISD commits the total fund balance of Student Activity Funds (Committed Funds). BE IT RESOLVED that the CISD commits the total fund balance of Capital Project Funds to Capital Improvement Projects (Committed Funds). BE IT RESOLVED that $5,000,000 be committed to Capital Improvement Projects (Committed Funds). BE IT RESOLVED that $3,425,000 be committed to Renovations, HV AC/Roofing, Fine Arts, Athletics, Transportation, Technology, and Safety and Accountability (Assigned Funds). BE IT RESOLVED that $950,000 be committed for anticipated State funding reductions. (Assigned Funds). AND BE IT RESOLVED that Castleberry ISD's financial goal is to have a sufficient balance in the operating fund with sufficient working capital and a margin of safety to address local and regional emergencies without borrowing. The District shall strive to maintain an unassigned fund balance of twenty-five (25%) percent of the total operating expenditures. The above Resolution is adopted this 27th day of August 2015. CISD Board President CISD Board Secretary 23
REVENUE CLASSIFICATION 2015-2016 Fund Description NOGA NOGA NOGA NOGA 2012 2013 2014 2015 204 Title IV, Safe and Drug Free Schools - - - - 211 Title 1, Part A $ 1,154,173 $ 1,228,013 $ 1,191,740 $ 1,164,668 211 Title 1, School Improvement Program (001) - $ 15,000 - - 211 Title 1, School Improvement Program (041) - $ 15,000 - - 224 Idea-B Formula $ 1,273,427 $ 1,150,772 $ 1,129,630 $ 1,112,893 225 Idea-B Preschool $ 39,852 $ 37,389 $ 38,210 $ 52,239 244 Carl Perkins Voc Ed - Basic $ 59,876 $ 56,252 $ 54,561 $ 53,740 255 Title II, Part A-Teacher/Principal Training $ 186,641 $ 169,361 $ 174,479 $ 145,280 262 Title II, Part D - Technology - - - - 263 Title III, LEP/Immigrant $ 162,406 $ 192,851 $ 197,367 $ 126,405 265 21st Century Grant $ 444,000 $ 333,000 $ 249,750-266 ARRA Title XIV SFSF - - - - 276 SIP Academy - - - - 279 ARRA-Title II, D Technology - - - - 283 ARRA-Idea B - Formula - - - - 284 ARRA-Idea B - Preschool - - - - 285 ARRA-Title I, Part A - - - - 287 Education Jobs Fund - - - - 289 Summer School LEP $ 1,110 $ 1,115 $ 1,113-394 Life Skills - - - - 401 Optional Extended Year Program - - - - 404 Accelerated Reading/Math - - - 404 SSI(F) College Readiness/Middle School - $ 18,037 - - 410 Technology Lending Grant - $ 97,500-411 Technology Allotment - - - - 415 Pre-K Early Start-Tier I - - - - 425 Beginning Teacher Induction/Mentoring - - - - 429 TX ED Excellence Grt - TEEG - - - - 429 Texas Fitness NOW - - - - 486 Tobacco Grant - - - - TOTALS $ 3,321,485 $ 3,314,290 $ 3,036,850 $ 2,655,225 State and Federal grant funds were significantly reduced in the 2011-2012 school year. Grants are expected to continue to be reduced in the 2012-2013 school year. Due to rollovers and amendments these amounts may change. 24