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Davenport SD #207

Davenport SD #207. M&O Planning Info 10-29-12. Topics . Local Effort Assistance Historical Review Levy Swap Summary. Local Effort Assistance (LEA). Local Effort Assistance is state money paid to eligible district to match voter approved excess General Fund levies.

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Davenport SD #207

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  1. Davenport SD #207 M&O Planning Info 10-29-12

  2. Topics • Local Effort Assistance • Historical Review • Levy Swap Summary

  3. Local Effort Assistance (LEA) • Local Effort Assistance is state money paid to eligible district to match voter approved excess General Fund levies. • These payments help school districts that have above average tax rates due to low property valuations.

  4. One example: • Davenport tax rate in 2012 = $4.24/1,000 • Collects $975,000 • Mercer Island tax rate in 2012 = $1.43/1,000 • Collects $11,548,943

  5. LEA – continued • 2011 = 4.23% of general fund revenues • Not protected by constitution • Davenport collected $413,898 last year • Davenport is scheduled to receive $365,443 this year. • Approx. -$50,000

  6. Kingcounty.gov

  7. Headlines • 10/23/12 – “Seattle-area home values posted largest gain…” – Seattle PI • 9/15/12 – “Real Estate Rebound” –Seattle Times • 8/6/12 – “King County Home Prices up 7%...” – Seattle Times

  8. LEA cont. • LEA Questions to Consider: • Will the recent trend of decreasing LEA continue? • Will LEA funding be protected?

  9. LEVY SWAP Summary • Increase State School Tax by $1.17 • Reduce Local Levy by $1.17 • Fund collections through state apportionment • Estimated $1 billion • Allow districts to then collect more from local tax bases ($2,500? $3,000 per student?)

  10. LEVY SWAP - cont. • Davenport estimated impact: • With no change to taxpayers • -additional $36,972 if no LEA • Additional proceeds coming from the Bellevue/Mercer Island/Seattle/other districts • These districts will have the ability to go back to voters for higher levies under levy swap to create an incentive for them to ‘swap’.

  11. LEVY SWAP - cont. • Discussion points: • Will it be harder to pass a levy? • Will it extend the funding gap? • Will this excuse funding of basic education? • If LEA is preserved in the model?

  12. Overview of F-196 (Annual Financial Statement

  13. Summary of the Davenport School District Financial Status From 2004-05 to 2011-12

  14. Federal Funding – “Sequestration” • 9.1% cut = $ _$18,506_____ • Title 1 • Title 2 • Special Ed • Other? (SRSAP, Sped Medicaid, Fed. Food Service) Possible Reductions in Revenue

  15. Enrollment ??? • Our initial forecasts are that our enrollment for 2013-14 will be slightly higher than this year… Possible Reductions in Revenue

  16. Even though it is really early to start projecting enrollment for 2013-14, by comparing our incoming first grade class and our outgoing senior class, we can estimate that enrollment could rise by approximately 11 FTE. This assumes that our kindergarten class for next year is of a similar size to this years class.

  17. Funding for Full-Day, Every Day K • With the Supreme Court ruling, there may not be any cuts K-12 funding… Possible Increases in Revenue

  18. How Are New Resources Phased-in Under SHB 2776?

  19. Current FundingFor the 2012-13 school year, funding is available for 22% of the state’s Kindergarten students in 220 schools (Excel) (PDF). OSPI Memorandum No. 040-12 includes the 2012-13 requirements for state-funded Kindergarten. Future Phase-in (Projected)To reach the 2017-18 statewide target, the Legislature must increase funding 16% a year. Based on this expectation, it is projected that 38% of the state’s student in the 2013-14 school year and 53% in the 2014-15 school year will be eligible for full-day Kindergarten. In addition to finalizing the schools eligible in 2012-13, OSPI created a projection of the schools that would be eligible in 2013-14 and 2014-15 (PDF of Eligibility of rollout to 38 and 53 percent). This data is based on today’s school poverty rate calculation and is subject to change. The Legislature will need to increase funding for full-day Kindergarten in the 2013-15 biennium to reach these targets.

  20. We have classroom space for two, all-day, every day kindergarten classes! Good News!

  21. Still planning on adding “every Wed.” beginning 2nd Semester • The State may begin funding all day, every day in 2013-14 or 2015-16 • If not fully funded: • 2013-14: Add all day, every day? • Estimated cost: Minimum $50,000 • 2013-14: Add all day, 4 days a week • Estimated cost: Minimum $30,000 (if we utilize current teacher to teach one class Monday – Thursday and second class on Friday) Options for Kindergarten

  22. Current Levy – 3 years • Levy before current one – 4 years • 1, 2, 3, or 4 years? • 4 year Levy – pros and cons Levy Options – How many years

  23. Keep tax rate “level” • Keep $ amount of levy “level” • Balancing the needs of the school district with the current economic environment… Levy Options – Amount of Levy

  24. Nov. 26 board mtg: continue discussions • Dec. 19 board mtg.: final decision, resolution due to Auditor’s office by Dec. 28 Timelines

  25. Short Range & Long Range Staffing Plans… “What challenges will we be facing in the near future?”

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