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2013-2014 Budget

2013-2014 Budget. Public Hearing and Budget Adoption. Ralph Fortunato. Director of Fiscal Services. August 28, 2013. School District Budgets. There are 5 distinct funds in the budget… General Fund -provides for the daily operations of the school district

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2013-2014 Budget

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  1. 2013-2014 Budget Public Hearing and Budget Adoption Ralph Fortunato Director of Fiscal Services August 28, 2013

  2. School District Budgets • There are 5 distinct funds in the budget… • General Fund-provides for the daily operations of the school district • Capital Project Fund-receives bond sale/state match revenue for school construction and technology levy revenue for technology program • Debt Service Fund-receives tax collections sufficient to pay back or “service” • the principal and interest from bonds approved by the board and or the voters • Transportation Vehicle Fund-receives state depreciation revenue for purchase of busses; all driver pay, fuel, repairs, etc. is paid from the General Fund • ASB Fund-accounts for all revenue and expenditures made by the schools’ • Associated Student Body activities

  3. Budget Adoption Process • By law, all school districts in Washington must formally adopt a budget by August 31st of each year • All school systems must use the same format (F-195); • The formal approval of the budget is by Board Resolution • The Board, upon passage of the resolution, is approving the • amount of authorized expenditures for each fund • School districts may not expend greater than the original authorized expenditure amount without a budget extension, • approved by Board resolution.

  4. General Fund 2012-13 Update

  5. General Fund 2013-2014

  6. General Fund 2013-14 Enrollment

  7. General Fund 2013-14 Staffing

  8. General Fund 2013-14 Revenues

  9. General Fund 2013-14 Revenues: (Net of Expansion Contingency)

  10. General Fund 2013-14 Expenditures

  11. General Fund 2013-14 Expenditures: (Net of Expansion Contingency)

  12. General Fund Ending Fund Balances 2011-12 through 2013-14

  13. General Fund 2013-14 into 2014-15

  14. Capital Project Fund 2013-2014 Beginning Fund Balance $13,834,638 Revenues 5,733,000 Total Funds Available 19,567,638 Expenditures/Uses 17,971,030 Ending Fund Balance $ 1,596,608

  15. Capital Project Fund 2013-2014 • Project List:

  16. Debt Service Fund 2013-2014 Beginning Fund Balance $14,250,000 Revenues /Transfers 29,349,114 Total Funds Available 43,599,114 Expenditures/Uses 32,149,785 Ending Fund Balance $ 11,449,329

  17. ASB Fund 2013-2014 Beginning Fund Balance $ 1,270,098 Revenues 4,948,588 Total Funds Available 6,218,686 Expenditures/Uses 5,039,159 Ending Fund Balance $ 1,179,527

  18. Transportation Vehicle Fund 2013-2014 Beginning Fund Balance $ 998,008 Revenues 687,525 Total Funds Available 1,685,533 Expenditures/Uses 1,415,114 Ending Fund Balance $ 270,419

  19. 2013-2014 Levy Amounts

  20. Next Steps: • Formal Adoption of budget August 28, 2013 • Monitor start of school for enrollment and staffing • Close 2012-13 fiscal year and produce Annual Financial Report (F-196) by • November 1, 2012 • Monitor 2014 legislative sessions (state funding) and federal reauthorizations • for possible budget revisions • Determine priorities for 2014-2015 budget

  21. Questions/Comments

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