Prosper ISD Financial Budget

Prosper ISD Financial Budget 2017-2018

2 Board Presentation Budget Summary General Fund Maintenance & Operations Interest & Sinking Fund Debt Services Child Nutritional Fund Food Services Athletic Fund Athletic Events Federal Programs

3 General Fund Maintenance & Operations Section

4 2017-2018 Budget Projections 2016-2017 2016-2017 2017-2018 Budget Actual Budget Total Student Enrollment 9,500 10,325 12,000 Student ADA 9,120 9,684 11,520 Percentage Increase 19.0% Total Property Valuation Net Increase $5,024MM $6,479MM $1,454MM Percentage Increase 29.0% Collin $4,715MM $5,887MM Denton $ 309MM $ 592MM TOTAL $5,024MM $6,479MM

5 2017-2018 Revenue Projections Local Tax Collections Current Tax Collections $ 73,100,000 Prior Year Tax Collections $ 800,000 Other Revenues $ 1,000,000 State Revenue $ 26,000,000 Federal Revenue $ 100,000 Total M & O Revenue Projections $101,000,000 M&O Revenue and Tax Collections - Before TRS Amount

6 Maintenance and Operations Fund Maintenance and Operation Tax Rate 1.17 1.16 1.15 1.14 1.17 1.17 1.15 1.17 1.17 1.17 1.17 1.17 1.17 1.13 1.12 1.13 1.11 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

2017-2018 Budget Projections Appropriations by Function Codes (Group): (Thousands 000) Budget Projected Projection 2016-2017 2016-2017 2017-2018 Instructional $ 56,680 $ 55,600 $ 66,400 (FUNCTIONS 11, 12, 13) Instructional Related $ 8,233 $ 8,075 $ 10,125 (FUNCTIONS 31,33,34,36) Operations $ 11,144 $ 11,150 $ 12,710 (FUNCTIONS 51,52,53) Leadership $ 4,887 $ 4,855 $ 6,065 (FUNCTIONS 21,23) Administration $ 2,126 $ 2,000 $ 2,325 (FUNCTION 41) Other Costs $ 1,185 $ 1,015 $ 1,755 (FUNCTION 61,91,99) Construction Projects $ 575 $ 550 $ 660 Debt Structure $ 870 $ 860 $ 860 (Function 71) TOTAL $ 85,700 $ 84,105 $ 100,900 General Fund Expenditures by Function Codes 7

2016-2017 Expenditures By Functions Leadership 5.8% Operations 13.3% Administration 2.4% Other 1.2% Debt Service 1.0% Construction.7% Instruction Related 9.5% Instruction 66.1% 2016-2017 Current Year Projections 8

2017-2018 Budget By Functions Leadership 6.0% Operations 12.6% Administration 2.3% Other 1.8% Construction.7% Debt Structure.8% Instruction Related 10.0% Instruction 65.8% 2017-2018 Next Year Projections 9

Historical Information of Expenditures to Projections (without Buses and Construction) 2014 2015 2016 2017 2018 Instructional 66.2% 66.4% 66.1% 66.1% 66.2% Functions (11,12,13) Instructional Related 10.2% 10.1% 9.9% 9.5% 9.8% Functions (31,33,34,36) Operations 12.2% 13.0% 13.0% 13.3% 12.4% Functions (51,52, 53) Leadership 6.1% 5.4% 5.9% 5.8% 6.0% Functions (21, 23) Administration 2.4% 2.6% 2.6% 2.4% 2.3% Functions (41) Other Costs.7%.6%.7% 1.2% 1.8% Functions (61,99) Construction Projects.4%.5%.6%.7%.6% Debt Structure 1.8% 1.4% 1.2% 1.0%.9% General Fund Expenditures by Function Codes 10

2017-2018 Budget Projections Appropriations by Object Codes: Budget Projections Projection 2016-2017 Year-end 2017-2018 Payroll Expenditures $ 68,583,178 $ 68,600,000 $ 82,385,000 Contracted Services $ 6,707,381 $ 6,400,000 $ 7,280,000 Supplies & Materials $ 3,291,148 $ 3,000,000 $ 3,400,000 Other Operating Costs $ 1,903,154 $ 1,600,000 $ 1,875,000 Chapter 41 Recapture $ 625,000 $ 390,000 $ 1,300,000 Capital Expenditures $ 3,720,139 $ 3,300,000 $ 3,800,000 M&O Debt Payment $ 870,000 $ 860,000 $ 860,000 TOTAL $ 85,700,000 $ 84,150,000 $ 100,900,000 General Fund Expenditures by Object Codes 11

2016-2017 Expenditures Object Codes Other Operating Costs 1.9% Debt Payment 1.0% Chapter 41 0.5% Supplies 3.6% Capital Projects 3.9% Contracted Services 7.6% Payroll 81.5% 2016-2017 Current Year Projections 12

2017-2018 Expenditures Object Codes Other Operating Supplies Costs 3.4% 1.9% Debt Payment.8% Chapter 41 1.3% Contracted Services 7.2% Capital Projects 3.8% Payroll 81.6% 2017-2018 Next Year Projections 13

14 Projected Cost for Salaries 2017-2018

15 2017-2018 Projections New Increases in Payroll Costs Salary Increases : Current Staff $ 3,000,000 Preliminary Projections: New Personnel - New Staff Personnel $ 7,300,000 New Personnel Reserved for August Additions $ 600,000 Additional Benefits $ 900,000 Additional August Accrual $ 1,400,000 Total Increase in Payroll Expenditures $13,200,000

16 Debt Structure Section Interest & Sinking Fund

17 Interest and Sinking Debt Payment $30,000,000 $27,259,013 $25,000,000 $21,068,493 $20,000,000 $18,191,019 $18,071,954 $15,000,000 $12,698,602 $12,012,290 $12,785,916 $10,000,000 $12,150,632 $11,916,857 $5,000,000 $8,146,152 $0 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

18 Interest and Sinking Fund Interest and Sinking Tax Rate 0.50 0.45 0.50 0.50 0.50 0.50 0.50 0.50.50 0.50 0.50 0.50 0.50 0.40 0.35 0.30 0.25 0.20 0.15 0.10 0.05 0.00 2008 2009 2010 2011 2012 2013 2014 2016 2016 2017 2018

19 2017-2018 Budget Projections Tax Collections for Debt Structure Debt Payment for 2017-2018 $27,500,000 Current Tax Collections $30,500,000 Prior Year Collections 600,000 Other Revenue Sources 100,000 Total Tax Collections for Debt Payment $31,200,000 Difference $ 3,700,000

20 Food Services Child Nutritional Fund

21 2017-2018 Budget Projections Total Revenue for Food Services: Local School Lunches $ 3,960,000 Federal Programs $ 400,000 Total Revenue Projections $ 4,360,000 Total Expenditures Projections $ 3,910,000

22 State & Federal Program State & Federal Funds TOTAL FUNDS $ 1,125,000.00

23 2017-2018 State & Federal Programs Total Title Funds - $ 125,000 Total IDEA B Funds $ 1,000,000 Total State and Federal Funds $ 1,125,000 (These amounts are estimates based on student projections )

24 2017-2018 Athletic Activity Events Athletic Events Revenue $ 225,000 Athletic Events - Expenditures $ 175,000 Athletic Events Cash Flow $ 50,000

2017-2018 Budget Projections Appropriations by Function Codes (Group): (Thousands 000) Budget Projected Projection 2016-2017 2016-2017 2017-2018 Instructional $ 56,680 $ 55,600 $ 66,400 (FUNCTIONS 11, 12, 13) Instructional Related $ 8,233 $ 8,075 $ 10,125 (FUNCTIONS 31,33,34,36) Operations $ 11,144 $ 11,150 $ 12,710 (FUNCTIONS 51,52,53) Leadership $ 4,887 $ 4,855 $ 6,065 (FUNCTIONS 21,23) Administration $ 2,126 $ 2,000 $ 2,325 (FUNCTION 41) Other Costs $ 1,185 $ 1,015 $ 1,755 (FUNCTION 61,91,99) Construction Projects $ 575 $ 550 $ 660 Chapter 41 Debt Structure $ 870 $ 860 1,820 $ 860 (Function 71) TOTAL $ 85,700 $ 84,105 $ 100,900 General Fund Expenditures by Function Codes 18,380 2,555 3,910 1,560 1,080 410-0- -0-29,800 25

Historical Information of Expenditures to Projections (without Buses and Construction) 2014 2015 2016 2017 2018 Instructional 61.7% 66.2% 66.4% 66.1% 66.1% 66.2% Functions (11,12,13) Instructional Related 8.5% 10.2% 10.1% 9.9% 9.5% 9.8% Functions (31,33,34,36) Operations 13.4% 12.2% 13.0% 13.0% 13.3% 12.4% Functions (51,52, 53) Leadership 5.2% 6.1% 5.4% 5.9% 5.8% 6.0% Functions (21, 23) Administration 3.6% 2.4% 2.6% 2.6% 2.4% 2.3% Functions (41) Other Costs 1.3%.7%.6%.7% 1.2% 1.8% Functions (61,99) Construction Projects 0%.4%.5%.6%.7%.6% Debt Structure 0% 1.8% 1.4% 1.2% 1.0%.9% Chapter 41 6.1% General Fund Expenditures by Function Codes 26

2017-2018 Expenditures Object Codes Other Operating Supplies Costs 3.4% 1.9% 2.3% Contracted Services 7.2% 20% 3.5%.6% Debt Payment.9% 6% Chapter 41 1.2%.6% Capital Projects 3.8% Payroll 81.6% 67% 2017-2018 Next Year Projections 27

Total Budget Expenditures Summary Total Expenditures for 2016-2017: Projected Aggregate Expenditures A. Instruction $ 55,600,000 B. Instruction Support 8,075,000 C. Leadership 4,855,000 D. Central Administration 2,000,000 E. District Operations 11,150,000 F. All Other Category 1,015,000 G. Capital Projects 550,000 H. Debt Services (General Fund) 860,000 I. Debt Services (Bond Fund) 23,941,828 J. Food Services 3,350,000 Total Expenditures for 2016-2017: Expenditures Per Student 9,684ADA A. Instruction $ 5,741 B. Instruction Support 834 C. Leadership 501 D. Central Administration 207 E. District Operations 1,151 F. All Other Category 105 G. Constructions Projects 57 H. Debt Services (General Fund) 89 I. Debt Services (Bond Fund) 2,472 J. Food Services 346 Total Expenditures for 2017-2018: Aggregate Expenditures A. Instruction $ 66,700,000 B. Instruction Support 9,935,000 C. Leadership 6,065,000 D. Central Administration 2,325,000 E. District Operations 12,530,000 F. All Other Category 1,755,000 G. Capital Projects 660,000 H. Debt Services (General Fund) 860,000 I. Debt Services (Bond Fund) 27,500,000 I. Food Services 3,910,000 Total Expenditures for 2017-2018: (Projected) Expenditures Per Student 11,520 ADA A. Instruction $ 5,884 B. Instruction Support 876 C. Leadership 534 D. Central Administration 205 E. District Operations 1,104 F. All Other Category 155 G. Construction Projects 58 H. Debt Payment (General Fund) 76 I. Debt Services Fund (Bond Fund) 2,424 J. Food Services 345 Total Costs $ 11,503 Total Costs $ 11,661 28

Total Budget Expenditures Summary Total Expenditures for 2008-2009: Aggregate Expenditures A. Instruction $ 2,555,000 B. Leadership 18,380,000 B. Instruction Support 1,560,000 D. Central Administration 1,080,000 E. District Operations 3,995,000 F. All Other Category 410,000 G. Chapter 41 1,820,000 H. Debt Services (General Fund) -0- I. Debt Services (Bond Fund) 11,387,000 J. Food Services 1,065,000 Total Expenditures for 2008-2009: Expenditures Per Student 2,900 ADA A. Instruction $ 6,337 B. Instruction Support 881 C. Leadership 538 D. Central Administration 372 E. District Operations 1,377 F. All Other Category 141 G. Chapter 41 628 H. Debt Services (General Fund) -0- I. Debt Services (Bond Fund) 3,961 J. Food Services 367 Total Expenditures for 2017-2018: Aggregate Expenditures A. Instruction $ 66,700,000 B. Instruction Support 9,935,000 C. Leadership 6,065,000 D. Central Administration 2,325,000 E. District Operations 12,530,000 F. All Other Category 1,755,000 G. Capital Projects 660,000 H. Debt Services (General Fund) 860,000 I. Debt Services (Bond Fund) 27,500,000 I. Food Services 3,910,000 Total Expenditures for 2017-2018: (Projected) Expenditures Per Student 11,520 ADA A. Instruction $ 5,884 B. Instruction Support 876 C. Leadership 534 D. Central Administration 205 E. District Operations 1,104 F. All Other Category 155 G. Construction Projects 58 H. Debt Payment (General Fund) 76 I. Debt Services Fund (Bond Fund) 2,424 J. Food Services 345 Total Costs $ 14,602 Total Costs $ 11,661 29

2017-2018 Board Approval with TRS On Our Behalf Total Budget Summary Approvals: For Reporting Purposes Only Revenue Expenditures General Fund Budget (M&O) $ 101,000,000 $100,900,000 Add: TRS on our Behalf 4,000,000 4,000,000 Total General Fund Budget (TRS) 105,000,000 104,900,000 Interest & Sinking Fund (I&S) 31,200,000 27,500,000 Food Service Fund 4,360,000 3,910,000 Total Federal Funds 1,125,000 1,125,000 Athletic Activity Fund 225,000 175,000 Total $141,910,000 $137,610,000 30 30