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Preliminary Revenue Budget for FY2013

Preliminary Revenue Budget for FY2013. Board of Education March 29, 2012. Budget Calendar. November-December, 2011 Preparation of FY2013 Budget Guidelines January - March, 2012 2012-2013 Budget Manual and budget allocations distributed to district budget leaders

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Preliminary Revenue Budget for FY2013

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  1. Preliminary Revenue Budget for FY2013 Board of Education March 29, 2012

  2. Budget Calendar • November-December, 2011 • Preparation of FY2013 Budget Guidelines • January - March, 2012 • 2012-2013 Budget Manual and budget allocations distributed to district budget leaders • Budget reviews for each unit • January 26, 2012 • Presentation to the Board: Discussion of Budget Assumptions • February 9, 2012 • Presentation to the Board: Demographic Profile & Enrollment Projections • March 29, 2012 • Presentation to Board of Education: Preliminary Revenue Budget for FY2013

  3. Budget Timeline • April 26, 2012 • Presentation to Board of Education: Preliminary FY2013 Expenditure Budget • May 24, 2012 • Presentation to Board of Education: Updated FY2013 revenue and expenditure budgets • June 14, 2012 • Presentation to Board of Education: Updated FY2013 revenue and expenditure budgets • June 28, 2012 • Presentation to Board of Education: FY2012 Budget Amendment and recommendation for approval of FY2013 Budget • August, 2012 • Board of Education – Set the 2012 Tax Rate

  4. Benefit Renewal FINAL Assessed Valuation Park Hill Budget Cycle Enrollment Projections Teacher/Staff Salary Negotiations State Budget Approval Additional State & Federal Funding Information Redistricting Finalized New Legislation Preliminary Assessed Valuation Staffing Needs

  5. Preliminary Revenue Budget for FY2013 Board of Education March 29, 2012

  6. Operating Revenue • Overview • Total Budgeted Operating Revenue FY2012 $119,342,232 • Revenue By Source • Local • County • State • Federal • Other * Budgeted FY2012 values

  7. Preliminary FY2013 Revenue • Local Sources • Local Property Taxes • Prop C • Other Revenue Items • Earnings on Investments, Community Education, Payments in Lieu of Tax, Food Service, Fee-based Pre-School

  8. Preliminary FY2013 Revenue

  9. FY2012 Budget • FY2012 budget was created anticipating a no increase in the tax levy • $4.8026 = Operational • $0.6107 = Debt Service • After final assessed valuation figures from the county, the tax rate ceiling moved from $4.8026 to $4.9105 (+$0.1079) (Hancock Amendment) • The Board of Education approved a voluntary rollback from the tax rate ceiling of $o.1079 in August, 2011

  10. Preliminary FY2013 Revenue • Local Sources • Local Property Assessed Valuation • Assuming no growth in district assessed valuation • Operating Tax Levy • FY2013 budget being formulated to recapture the $0.1079 voluntary rollback • Tax levy at tax rate ceiling generates $1.47 million in operating revenue over FY2012 • Prop C • DESE Projects $849 per WADA (using Consensus Revenue Estimate) • Prop C rate generates $200,000 in operating revenue over FY2012 • Other Revenue Items • Earnings on Investments, Community Education, Payments in Lieu of Tax, Food Service, Fee-based Pre-School

  11. Preliminary FY2013 Revenue • County • Fines & Fees • Projecting no increase in revenue from FY2012 • Railroad & Utility (State Assessed Utilities) • Projecting no increase in revenue from FY2012

  12. Preliminary FY2013 Revenue • State • Basic Formula • “. . . it is not possible to give an estimate of the Foundation Formula. The General Assembly has begun consideration of making some type of an adjustment to the formula during this session. Bills have been filed in both the House (HB1043) and the Senate (SB454) that address the formula. Additionally, HB2002, which addresses funding for K-12 calls for level funding of $3,009,388,411 for FY13 is just beginning the process of winding its way through the House Budget Committee. With the state budget facing very severe limitations it is too early to predict the outcome of the final appropriation.” • Change to Dollar Value Modifier (DVM) from 1.090 to 1.082 • Other State Revenue Items • Transportation, Early Childhood Special Education, Parents as Teachers, Summer School

  13. Preliminary FY2013 Revenue

  14. Preliminary FY2013 Revenue • State • Basic Formula Solutions • Increase State Adequacy Target and prorate formula calculation based upon available state revenue • Prorate State Adequacy Target based upon available state funding • Freeze formula based on Year 6 (FY2012) calculations • Continue to implement foundation formula (Year 7) and prorate all districts based on available state funding • Suspend Hold Harmless provisions

  15. Preliminary FY2013 Revenue • Federal • IDEA/94-142 Revenue • Federal Food Service Revenue (Free/Reduced Lunch) • Other Federal Revenues • Title Programs (I, II, III) • Medicaid

  16. Key FY2013 Revenue Variables • Local Assessed Valuation Growth (County) • Operating Tax Levy (State Auditor & Park Hill Board of Education) • Proposition C reimbursement rate (DESE) • 2011-2012 Enrollment (Park Hill School District) • Weighted Average Daily Attendance • 2012-2013 Enrollment (Park Hill School District) • Projections • State Basic Formula (State Legislature or DESE)

  17. Preliminary Revenue Budget for FY2013 Board of Education March 29, 2012

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