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Agenda

School Finance 101 Understanding State Aid and Budget Presentation Tool Kit NASB Conference Mark Shepard Associate Superintendent Lincoln Public Schools November 15, 2012. Agenda. Budget Calendar Revenue Information Review Assessed Valuation Information/Projection

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Agenda

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  1. School Finance 101Understanding State Aid andBudgetPresentation Tool KitNASB ConferenceMark ShepardAssociate SuperintendentLincoln Public SchoolsNovember 15, 2012

  2. Agenda • Budget Calendar • Revenue Information • Review Assessed Valuation Information/Projection • Review State Aid Information • Expenditure Information • Projected Increases • Potential Reductions • Revenue/Cash Reserve • Questions/Feedback 2

  3. Tentative 2012-13 Budget Development Calendar 3

  4. Funding Sources The general fund or “operating fund” of the district is funded through a combination of local, county, state, and federal funds. The largest source of funding comes from local property taxes. 4

  5. General Fund Sources of Funds 5

  6. Assessed Valuation History Note: Total increase since 2008-09 is 3.73%. 6

  7. 2012-13 State Aid Formula 7 *LPS allowance/adjustments affecting needs.

  8. LPS State Aid History Numbers include state aid, stabilization funds, and education jobs funds. *Education jobs funds of $6,864,725 received in 2010-11 but utilized in 2011-12.

  9. Student Enrollment Information(Early Childhood Special Education, Excite,and Kindergarten through 12th Grade) Additional 285 Students 9

  10. History of LPS Property Tax Levy 10

  11. Property Taxes What is the estimated cost to a homeowner if the home’s assessed value is $146,150? 2011-2012 $1,821.33 2012-2013 Estimated $1,821.33 $0 change per year $151.78 per month $151.78 per month Note: Per the county assessor’s office, in 2011 the average assessed value for residential property was $146,150.

  12. Where does the money go? LPS spends the majority of the operating budget on instruction. This includes money for teachers, counselors, media specialists, nurses, principals, office staff, paraeducators, supplies and equipment. The rest of the budget is for business affairs (maintenance, custodial, transportation, etc.), human resources, and the superintendent’s office/board of education areas. 83% Instruction 12

  13. General Fund Expenditures by Object 13

  14. 2012-13 Budget ConsiderationsPreliminary Expenditure Changes • Negotiations 2.5% Package Increase $ 7,102,160 • New/Renovated Facility Increases $ 1,045,550 • (Roper, Kloefkorn, Belmont) • Educare Facility and Program Increase $ 238,420 • Special Education Staffing and Supplies (LB131) $ 1,300,000 • Special Ed Extra Days - Summer Diagnostic Teams $ 100,000 • Regular Education Staffing $ 1,700,000 • Supplies for Schools ($2 per Student) $ 74,000 • Field Trip Cost Increase $ 20,000 • Curriculum Implementation $ 135,780 • Early Childhood Increases $ 164,080 • Strategic Planning $ 250,000 • Buses and White Fleet Replacement $ 135,780 • Diesel and Gasoline Fuel Increases $ 150,000 • Total Projected $12,415,770 • .

  15. 2012-13 Budget Considerations Expenditure Decreases • Recurring Expenditures • Remove Start-up Costs for Kloefkorn$ 713,480 • Remove Start-up Costs for Roper 4-5 Center$ 34,070 • ELL Transportation $ 20,575 • Budget to Actual Personnel Costs $ 2,484,850 $ 3,252,975 Identified General Fund Expenditures to be Purchased from Depreciation Fund* • Computers for Staff/State Assessment/Infrastructure (100%) $ 1,634,050 • Business Affairs Equipment Purchases (36.7%) $ 176,035 • Textbooks (18%) $ 419,700 $ 2,229,785 *These budgets would be placed on hold in the General Fund and items would be purchased through the Depreciation Fund.

  16. Preliminary 2012-13 Summary 16

  17. Cash Flow 17

  18. How Does LPS Compare? LPS is ranked 238th out of 251 school districts in Nebraska in per pupil spending. LPS currently Spends $8,830 per pupil compared to the State of Nebraska average of $9,968. LPS annually spends less than the state average by $40.2 million. The current levy and expenditure limitations do not allow LPS to spend at the State average. *2010-11 data is the latest available from the Nebraska Department of Education. 18

  19. Questions? 19

  20. Need more information or want to share comments?Look at our web site and see the budget book and work session materials at http://www.lps.org/about/budget/Please contact Mark Shepardat 436-1635 or by e-mail at mshepar@lps.org 20

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