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Educational Funding

Educational Funding. Sturgis Public Schools 2010 - 2011. Why do we need to understand educational funding?. School improvement Student achievement Site-based management School as a business. What does funding affect?. Class sizes Employee compensation Buildings and playgrounds

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Educational Funding

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  1. Educational Funding Sturgis Public Schools 2010 - 2011

  2. Why do we need to understand educational funding? • School improvement • Student achievement • Site-based management • School as a business

  3. What does funding affect? • Class sizes • Employee compensation • Buildings and playgrounds • Textbooks • Technical equipment • Specialist classes • Extracurricular activities • Community confidence

  4. Sturgis Public Schools Revenue Budget 2010-2011

  5. Federal Revenue • Historically driven by equal opportunity • 1790 – mid 19th century – equal opportunity defined by physical access to school • 20th century – equal opportunity defined by equal spending per pupil • ARRA – create and save jobs and jump-start economy

  6. Michigan School Aid Fund Revenue By Source FY 2010-11

  7. State Revenue – Proposal A • 1994 Constitutional amendment • Attempt to close funding gap • Created per-pupil funding • Increased sales tax from 4 – 6% • Decreased property tax • Homestead – 6 mills • Nonhomestead – 18 mills

  8. Michigan’s Struggling Economy • Lost automotive manufacturing jobs • Revenue consensus – Balanced budget requirement • 1995 – Michigan was in the top 1/3 in individual wealth • 2010 – Michigan now in the bottom ¼ in individual wealth • Population decline

  9. Local Revenue • Tuition, investment earnings, rentals • Universal service funds • Grants – Sturgis Foundation endowment grants, mini-grants, solar grant, etc. • Abbott solar/wind grant

  10. Fund Balance • Cumulative excess of revenues over expenditures • Measurement tool of the district’s financial health • School’s form of a savings account • Safety net for unforeseen circumstances • Savings plan for future needs

  11. Advantages of Higher Fund Balance • Minimizes reductions of employees and programs • Decreases dependency of state aid borrowing • Provides security from fluctuating expenses • Contributes to higher bond ratings

  12. Sturgis Public Schools Spend Down Formula

  13. Expenditures • State wide 2008-2009 - per-pupil revenue of $8,981 fell below expenditure of $9,545 • Some costs out of district control – retirement contribution • Some costs difficult to contain – energy and health care • Federal and state mandates

  14. What Have We Done to Control Costs? • Renovated buildings • Energy education • Reduction in employees • Changed health insurance carrier • Others?

  15. Questions? Please contact Vicki Watson Thank you for your time

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