BROOKLYN CENTER SCHOOL DISTRICT PUBLIC HEARING FOR TAXES PAYABLE 2016 December 14, 2015 Presented by: Sara Bratsch Finance Director
AGENDA FOR HEARING Public Comments Budget amendment Proposed Tax Levy for Taxes Payable in 2016 Board Member Questions Budget Amendment Approval Levy Approval
REVENUES AND EXPENDITURES CHANGES FROM FY16 PRELIMINARY BUDGET All Funds Changes from Preliminary FY16 Budget Original Budget - Revenue Amended Budget - Revenue Revenue Change Original Budget - Expenditures Amended Budgeted Expenditures Expenditure Change General Fund 30,144,885 31,091,355 946,470 29,744,885 30,691,355 946,470 Food Service 1,265,305 1,265,305 0 1,265,305 1,265,305 0 Community Svcs 1,718,387 1,792,391 74,004 1,718,386 1,792,391 74,005 Debt Service 2,333,454 2,333,454 0 2,364,528 2,364,528 0 Trust Fund 1,000 1,000 0 5,000 5,000 0 OPEB Trust Fund 40,000 40,000 0 137,577 137,577 0 OPEB Debt Service Fund 356,987 356,987 0 337,650 337,650 0 Internal Service Fund 3,286,754 3,282,400-4,354 2,137,983 2,469,651 331,668 Total All Funds 39,146,772 40,162,892 1,016,120 37,711,314 39,063,457 1,352,143
BROOKLYN CENTER SCHOOL DISTRICT BUDGET AMENDMENT CHANGES IN REVENUE Additional increase in basic formula Increase in Compensatory Aid Additional state aid such as funding for Indian Ed and Community Schools Grant Additional funding for School Readiness
BUDGET AMENDMENT EXPENDITURE ASSUMPTIONS & RISKS Transportation Agreement settled Transportation bus leases Unsettled contracts Set-aside for strategic plan priorities
REVENUE ALL FUNDS Revenue Budget - All Funds General Fund 77.41% Food Service 3.15% Community Service 4.46% Internal Service Fund 8.17% OPEB Debt Service 0.89% OPEB Trust Fund 0.10% Debt Service 5.81%
GENERAL FUND REVENUE BY SOURCE General Fund Revenue Detail Basic Formula 53.68% Compensatory Aid 14.14% ELL/LEP 1.00% Other 4.24% Property taxes 6.33% Special Education 6.17% Other State Aid 11.17% Federal 3.26%
GENERAL FUND EXPENDITURES BY PROGRAM General Fund - Expenditures by Program Regular Education 44.87% Support Services 7.45% Vocational Education 1.13% Special Education 12.95% Instructional Support 7.28% Pupil Support 11.43% Administrative 4.07% Sites & Buildings 9.04% Fiscal & Other Fixed Costs 0.55% Debt Service - Principal 0.29%
GENERAL FUND EXPENDITURES BY OBJECT General Fund - Expenditures by Object Salaries and Wages 53.9% Employee Benefits 18.5% Purchased Services 21.4% Other Expenditures 0.7% Supplies and Materials 2.4% Equipment 2.2%
PROPOSED 2015 PROPERTY TAX LEVY Levy Timeline Comparison 2015 to 2014 levy Specific reasons in changes in tax levy Impact on taxpayers
PROPOSED 2015 PROPERTY TAX LEVY Schedule of events in approval of district s 2015 Pay 2016 tax levy : September 14: School board approved proposed levy amount at maximum Mid-November: County mailed Proposed Property Tax Statements to all property owners December 14: Public hearing on proposed levy at regular meeting Following hearing school board will certify final levy amounts
PROPOSED 2015 PROPERTY TAX LEVY Changing School District Property taxes in Brooklyn Center from 2001-2016:
PROPOSED 2015 PROPERTY TAX LEVY 2014 Median 2015 Median Percent Increase Median Home Home Value Home Value Value 2015 Total Tax Proposed 2016 Total Tax Percent Increase Total Tax 131,400 142,100 8.1% 2,520 2,799 11.1% Percent of tax attributed to Brooklyn Center School District 6.6% Percent of tax attributed to Home Value Increase 4.5%
PROPOSED 2015 PROPERTY TAX LEVY Changing School District Property taxes in Brooklyn Center from 2001-2016
PROPERTY TAX COMPARISON TO OTHER SCHOOL DISTRICTS $142,100 HOME
PROPOSED 2015 PAY 201 TAX LEVY CATEGORY FINAL PAY 15 FINAL PAY 16 INC/DEC $ INC/DEC % Referendum Board Approved + Location Optional Long Term Facilities Revenue Other General Fund Revenue 205,730 257,612 +178,408-133,742 +133,742 +13,273 Total General Fund 1,967,343 2,292,766 +325,423 +16.54% Community Services 144,764 148,752 +3,988 +2.76% Debt Services 2,098,892 2,076,800-22,092 Other Post Employment Benefits Debt Service 356,987 350,073-6,914 Total Debt Service 2,455,879 2,426,873-29,006-1.18% Total Levy 4,567,986 4,868,391 300,405 +6.58%
EXPLANATION OF LEVY CHANGES Category: General Fund Change: +325,423 Reason for increase: Overall increased in student enrollment Added levy for Other Post Employment Benefits New Long Term Facilities Revenue
EXPLANATION OF LEVY CHANGES Category: Community Service Change: +3,988 Reason for increase: Small increase in enrollment
EXPLANATION OF LEVY CHANGES Category: Debt Service Change: -29,006 Reason for decrease: Prior year adjustments resulting from previous year over-levy
EXPLANATION OF LEVY CHANGES 700,000,000 Brooklyn Center Property Valuation Data 600,000,000 500,000,000 400,000,000 300,000,000 200,000,000 100,000,000 - Market Value Referendum Market Value 2009 2010 2011 2012 2013 2014
PROPOSED 2015 PROPERTY TAX LEVY Board Member Questions Board Vote on Budget Amendment Board Vote on Final levy certification