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Clay County School District Annual Budget 2007-2008

This is the tentative annual budget for the Clay County School District for the fiscal year 2007-2008. It includes estimated expenditures, revenues, and changes in fund balances.

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Clay County School District Annual Budget 2007-2008

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  1. SCHOOL DISTRICT OF CLAY COUNTY ANNUAL BUDGET SUPERINTENDENT’S TENTATIVE 2007-2008 ANNUAL BUDGET BOARD MEMBERS Carol Vallencourt, Chairman Carol Studdard, Vice Chairman Wayne Bolla Lisa Graham Charles E. Van Zant, Sr. SUPERINTENDENT David L. Owens PREPARED BY: Assistant Superintendent for Business Affairs Dr. George F. Copeland, C.P.A. Administrative Secretary, Sr. Sharon K. Nellis

  2. 2007-2008 COMPREHENSIVE IMPROVEMENT PLANNING AND BUDGETING TIMELINES ACTIVITY DATES 1. Enrollment Projections Due Friday, November 3, 2006 2. FTE Projections Due Tuesday, December 5, 2006 3. FTE Projections to DOE Friday, December 15, 2006 4. Projected Allocations (Teacher, Support, Admin.) Due Friday, January 5, 2007 5. Classroom Needs Assessment Completed Friday, February 2, 2007 6. 2007-2008 Staff Allocations to Board Thursday, February 15, 2007 7. Reappointment Printouts/Staff Evaluations Due Thursday, March 1, 2007 8. Budget Information/Principals’ Meeting Wednesday, March 14, 2007 9. 2007-2008 Reappointments Approved by Board Thursday, April 19, 2007 10. Enter Budgets (School & District) for Business Affairs Friday, May 4, 2007 11. Final Copy of School and District Plans/Budget Detail Sheets, including Professional Development-Evaluation of 2006-2007 District Comprehensive Plans Friday, May 4, 2007 12. Staff Review of Budgets/Approval May, 2007 13. Budget Workshop(s) June 26, 2007/July 12, 2007 14. Evaluation of 2006-2007 School Improvement Plans/Adequate Progress Thursday, June 7,2007 15. Draft of School Improvement Plans to District Staff Friday, August 3, 2007 16. Begin TRIM Guideline Sunday, July 1, 2007 17. Approval of Advertising Thursday, July 19, 2007 18. Advertise Thursday, July 26, 2007 19. Public Hearing to Approve Tentative Budget Monday, July 30, 2007 20. Public Hearing to Approve Final Budget Thursday, September 6, 2007

  3. SCHOOL DISTRICT OF CLAY COUNTY TENTATIVE 2007-2008 ANNUAL BUDGET ESTIMATED EXPENDITURES

  4. GOVERNMENTAL FUND GENERAL FUND FUND 100 The General Fund is the largest fund controlled by the School Board. This fund records expenditures for most of the personnel and fringe benefit costs, classroom supplies, textbooks, field trips, guidance, media inservice training, finance, personnel, data processing, central services, warehousing, purchasing, custodial, utilities and maintenance costs. These expenditures can be broadly categorized into the following seven object groups: Salaries (Object Codes 100’s) Benefits (Object Codes 200’s) Purchased Services (Object Codes 300’s) Energy Services (Object Codes 400’s) Materials and Supplies (Object Codes 500’s) Capital Outlay (Object Codes 600’s) Other Expenses (Object Codes 700’s)

  5. SCHOOL DISTRICT OF CLAY COUNTY 2007-2008 ANNUAL BUDGET SUMMARY STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES FUND 100 - GENERAL FUND

  6. School District of Clay County DETAIL OF ACTUAL AND ESTIMATED LOCAL, STATE AND FEDERAL REVENUES FUND 100 - GENERAL FUND

  7. SCHOOL DISTRICT OF CLAY COUNTY DETAIL OF ACTUAL AND ESTIMATED LOCAL, STATE, AND FEDERAL REVENUES FUND 100 - GENERAL FUND CONTINUED

  8. SCHOOL DISTRICT OF CLAY COUNTY OTHER FINANCING SOURCES (Fund 100) 2007-2008 $1,358,400 Part III 2 Mill Maintenance, Salaries & Equipment 300,000 Part III LCIF - 2 Mill Equipment in Schools $1,658,400 Transfer of Part III Funds 40,000 Transfer from Self Insurance for Vandalism 60,000 Sale of Equipment $1,758,400 Total Other Financing Sources

  9. SCHOOL DISTRICT OF CLAY COUNTY 2007-2008 ANNUAL BUDGET ANALYSIS OF FUNDS AVAILABLE

  10. SCHOOL DISTRICT OF CLAY COUNTY 2007-2008 ANNUAL BUDGET ANALYSIS OF REVENUE SOURCES FEDERAL $919,515 .44% LOCAL $46,946,564 22.57% STATE $160,144,204 76.99% ACTUAL 2005-06 $208,010,283

  11. SCHOOL DISTRICT OF CLAY COUNTY2007-2008 ANNUAL BUDGETANALYSIS OF REVENUE SOURCES FEDERAL $855,306 .35% STATE $189,523,064 76.90% LOCAL $56,079,455 22.75% FINAL ESTIMATED 2006-2007 $246,457,825

  12. SCHOOL DISTRICT OF CLAY COUNTY2007-2008 ANNUAL BUDGETANALYSIS OF REVENUE SOURCES FEDERAL $810,000 .30% LOCAL $58,318,546 21.42% STATE $213,129,678 78.28% PROPOSED 2007-2008 $272,258,224

  13. SCHOOL DISTRICT OF CLAY COUNTY2007-2008 ANNUAL BUDGETGENERAL FUND - REVENUE The School District of Clay County is allocated State and local funding through the Florida Education Finance Program (FEFP). For fiscal year 2007-08 the estimated State and local funding per unweighted FTE student is $7,155 which represents an increase of 7.53% over fiscal year 2006-07. However, over the last ten years (1996-97 through 2006-07)the revenue per unweighted FTE student has increased an average of 8.80% per year. STATE & LOCAL FUNDING PER UNWEIGHTED STUDENT 1996-97 Through 2007-08 P e r W e i g h t e d S t u d e n t F u n d i n g Fiscal Year

  14. SCHOOL DISTRICT OF CLAY COUNTY FEFP 2ND CALCULATION/FINAL CALCULATION

  15. SCHOOL DISTRICT OF CLAY COUNTY LOTTERY $’S 92-93 93-94 94-95 95-96 96-97 97-98 98-99 99-00 00-01 01-02 02-03 03-04 04-05 05-06 06-07 07-08

  16. SCHOOL DISTRICT OF CLAY COUNTY 2007-2008 ANNUAL BUDGET SCHEDULE OF ASSESSED VALUE

  17. SCHOOL DISTRICT OF CLAY COUNTY2007-2008 ANNUAL BUDGETSCHEDULE OF ASSESSED VALUE AMOUNT ASSESSED VALUE FISCAL 1993- 1994- 1995- 1996- 1997- 1998- 1999- 2000- 2001- 2002- 2003- 2004- 2005- 2006- 2007- YEAR 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008

  18. SCHOOL DISTRICT OF CLAY COUNTY 2007-2008 ANNUAL BUDGET SCHEDULE OF PROPERTY TAX MILL LEVY

  19. AN EXPLANATION OF ROLLED-BACK MILLAGE RATE “Rolled-Back Rate: -- The millage rate for the new year which would produce the same level of ad valorem tax revenue as was levied in the prior year, after adjusting the new year’s taxable property value by backing out “net new construction” and certain deletions. ******************************************************* In other words, the Rolled-Back Rate is the new millage rate that it would take to produce the same amount of property tax revenue using the new-year property tax roll, as was produced the year before by the prior-year actual millage rate and the prior-year tax roll. ******************************************************* The theory behind the “Rolled-Back Rate” is to maintain a constant revenue stream from local property tax sources. Presumably, as the tax roll increases in value, the millage rate would drop proportionately. Unfortunately, this theory does not provide for funding student enrollment growth nor does it allow for basic inflationary cost increases. A third limitation is the historical trend toward rapidly declining state revenues expressed as a percentage of the School Board’s operating and capital outlay budgets.

  20. SCHOOL DISTRICT OF CLAY COUNTY ROLLED-BACK RATE CALCULATION 2007-2008 BUDGET REVIEW TOTAL INCREASE IN MILLAGE (COLUMN 4) DIVIDED BY ROLLED-BACK MILL LEVY (COLUMN 1) EQUALS ROLLED-BACK RATE (COLUMN 5) (0.514DIVIDED BY 7.136EQUALS 7.20%) *NOTE: THE CALCULATIONS OF THE 2006-2007 ROLLED-BACK MILL LEVY IS BASED ON DATA FROM THE 2007 CERTIFICATION OF SCHOOL TAXABLE VALUE FORM DR-420S.

  21. SCHOOL DISTRICT OF CLAY COUNTY 2007-2008 ANNUAL BUDGET RECAP OF MILLAGE LEVIES AND DISTRICT AD VALOREM TAX REVENUE TAXABLE VALUE 2006-20072007-2008INCREASE TAXABLE VALUES $9,223,032,551 $10,663,355,682 $1,440,323,131 MILLAGE AD VALOREM MILLAGEAMOUNT MILLAGE AMOUNT ADJUSTMENTINC./(DEC.) REQUIRED LOCAL EFFORT 5.019 $ 43,975,880 4.890 $ 49,397,254 (.129) $ 5,421,374 DISCRETIONARY .510 4,468,559 .510 5,166,396 .000 697,837 SUPPLEMENTAL DISCRETIONARY .2502,190,470.2502,532,547.000 342,077 TOTAL GENERAL FUND 5.779 $ 50,634,909 5.650 $ 57,096,197 (.129) $ 6,461,288 CAPITAL IMPROVEMENT 2.00017,523,7622.00020,260,376.0002,736,614 TOTAL 7.779 $ 68,158,671 7.650 $ 77,356,573 (.129) $ 9,197,902 Impact on a $125,000 home with a $25,000 homestead exemption: Value Assessed $125,000 Homestead Exemption ($ 25,000) Taxable Value: 2006-2007 $100,000 @ 7.779 mills = $777.90 Taxable Value: 2007-2008 $100,000 @ 7.650 mills = $765.00 $ 12.90 Decrease in School Tax Levy ($12.90)

  22. SCHOOL DISTRICT OF CLAY COUNTY2007-2008Expenditures by Object

  23. SCHOOL DISTRICT OF CLAY COUNTY2007-2008 ANNUAL BUDGETANALYSIS OF EXPENDITURES BY OBJECT ACTUAL 2005-2006 $205,826,123

  24. SCHOOL DISTRICT OF CLAY COUNTY 2007-2008 ANNUAL BUDGET ANALYSIS OF EXPENDITURES BY OBJECT FINAL ESTIMATED 2006-2007 $240,079,824

  25. SCHOOL DISTRICT OF CLAY COUNTY2007-2008 ANNUAL BUDGETANALYSIS OF EXPENDITURES BY OBJECT SALARIES & BENEFITS 86.52% $240,828,918 PROPOSED 2007-2008 $278,340,853

  26. SCHOOL DISTRICT OF CLAY COUNTY2007-2008Expenditures by Function

  27. GOVERNMENTAL FUND DEBT SERVICE FUNDS FUND 200 This fund accounts for the accumulation of resources for, and payment of, General Long Term Debt Principal, Interest, Dues, Fees, and Cost of Issuance of Long Term Debt. PrincipalInterestTotal Total General Long Term Debt at June 30, 2007: (Principal & Interest) $71,270,000 $34,776,819 $106,046,819 Various Bonds outstanding at June 30, 2007 include the following: State School Bonds: $ 7,680,000 $ 2,281,955 $ 9,961,955 These bonds are issued by the State Board of Education on behalf of the district. The bonds mature serially and are secured by the district’s portion of the State-Assessed Motor Vehicle License Tax. District Revenue Bonds: Special Act Bonds $ 1,790,000 $ 819,483 $ 2,609,483 These bonds also referred to as RaceTrack Bonds are authorized by Chapter 65-1383, Laws of Florida, and Chapter 70-631, Laws of Florida, which provide that the bonds be secured by the portion of the RaceTrack and Jai Alai Funds distributed annually to the district from the State’s Pari-Mutuel Tax Collection Trust Fund. The annual distribution for payment of Debt Service is remitted by the State Controller to the District. Certificates of Participation: $61,800,000 $31,675,381 $ 93,475,381 The District entered into a financing arrangement on May 15, 1997, which arrangement was characterized as a Lease-Purchase Agreement, with the Clay School Board Leasing Corporation. The District secured financing of various educational facilities in the total amounts of $13,680,000 for Series 1997 and $24,980,000 for Series 2000. The Series 1997 Ground Lease commenced on May 15, 1997, and will terminate on the earlier of the date on which the Certificates are paid in full or June 30, 2017. The Series 2000 Ground Lease commenced on March 1, 2000, and will terminate on the earlier of the date on which the Certificates are paid in full or June 20, 2025. The District secured financing on July 10, 2003 (Series 2003) to build Lake Asbury Junior High. On March 15, 2004 the 1997 Series was refinanced. The District secured financing on October 1, 2005 (Series 2005A) to build a K-8 School. Also, on October 1, 2005 the 2000 Series was refinanced, (Series 2005B).

  28. SCHOOL DISTRICT OF CLAY COUNTY 2007-2008 ANNUAL BUDGET SUMMARY STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES FUND 200 – DEBT SERVICE FUND

  29. School District of Clay County 2007-2008 ANNUAL BUDGET DETAIL OF ACTUAL AND ESTIMATED LOCAL AND STATE REVENUES FUND 200 – DEBT SERVICE FUND

  30. School District of Clay County GENERAL LONG TERM DEBT FISCAL YEAR ENDING 6-30-2006

  31. School District of Clay County GENERAL LONG TERM DEBT CONTINUED FISCAL YEAR ENDING 6-30-2006

  32. School District of Clay County GENERAL LONG TERM DEBT FISCAL YEAR ENDING 6-30-2007

  33. School District of Clay County GENERAL LONG TERM DEBT CONTINUED FISCAL YEAR ENDING 6-30-2007

  34. School District of Clay CountyGENERAL LONG TERM DEBTFISCAL YEAR ENDING 6-30-2008

  35. School District of Clay CountyGENERAL LONG TERM DEBT CONTINUEDFISCAL YEAR ENDING 6-30-2008

  36. SCHOOL DISTRICT OF CLAY COUNTY DEBT SERVICE OBLIGATIONS JULY 1, 2007 TO JUNE 30, 2013

  37. GOVERNMENTAL FUND CAPITAL PROJECTS FUNDS FUND 300 This Fund accounts for financial resources to be used for Educational Capital Outlay needs, including new construction and renovation and remodeling projects. The major sources of revenue for the capital projects funds are: 2 MILL LEVY – Section 1011.71(2),F.S., for new construction and remodeling, maintenance, renovations, and repairs of existing school plants or of leased facilities; the purchase, lease-purchase or lease of school buses or new and replacement equipment; payments for educational facilities and sites an amount equal to three-fourths of the proceeds from the millage; payment of costs of leasing relocatable educational facilities. CO & DS – State funds generated by Motor Vehicle License Receipts (Tag Money). Projects funded from this source must be recommended in the School Plant Survey and must appear on the districts project priority list. PECO – Appropriated annually by the legislature from funds generated from gross receipts taxes.

  38. SCHOOL DISTRICT OF CLAY COUNTY 2007-2008 ANNUAL BUDGET SUMMARY STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES FUND 300 – CAPITAL OUTLAY FUND

  39. School District of Clay County 2007-2008 ANNUAL BUDGET DETAIL OF ACTUAL AND ESTIMATED LOCAL AND STATE REVENUES FUND 300 – CAPITAL OUTLAY FUND

  40. School District of Clay County 2007-2008 ANNUAL BUDGET DETAIL OF ACTUAL AND ESTIMATED EXPENDITURES FUND 300 – CAPITAL OUTLAY FUND

  41. GOVERNMENTAL TYPES SPECIAL REVENUE Funds to account for the financial resources of the Food and Nutrition Program and certain Federal Grant Program Revenues Food and Nutrition Program – Fund 410 Special Revenue – Contracted Programs - 420

  42. SCHOOL DISTRICT OF CLAY COUNTY SUMMARY STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES 2007 – 2008 ANNUAL BUDGET FUND 410 – SPECIAL REVENUE FUND – FOOD AND NUTRITION PROGRAM

  43. School District of Clay County 2007-2008 ANNUAL BUDGET DETAIL OF ACTUAL AND ESTIMATED LOCAL, STATE AND FEDERAL REVENUES FUND 410 – SPECIAL REVENUE FUND – FOOD AND NUTRITION PROGRAM

  44. School District of Clay County 2007-2008 ANNUAL BUDGET DETAIL OF ACTUAL AND ESTIMATED EXPENDITURES FUND 410 – SPECIAL REVENUE FUND – FOOD AND NUTRITION PROGRAM

  45. School District of Clay County FOOD AND NUTRUITION PROGRAM MEAL PRICE COMPARISON

  46. Food and Nutrition Services2007-08 • New Meal Prices All breakfast $1.25 Elementary lunch $1.50 Jr. High lunch $1.85/$2.00 High School lunch $1.85/$2.25 *Avg. lunch price in North FL Buying Group Elementary $1.70 Secondary $2.02

  47. Dept. of Food and Nutrition Services

  48. Meal Participation • 3.8 million lunches served last year • ~ 60% meal participation for lunch • 27% of students receive free/reduced meals

  49. New computer softwareNutrikids • Point of Sale, Inventory, Free/Reduced, Participation • Features: touch screen monitors, web access to accounts, on-line payment capabilities • Advantages: centralized network = less human error, less paperwork, more timely processing, etc.

  50. Wellness and Nutrition • Menus – Whole grain pizza, breads, cereal • Low fat desserts • Low fat dairy products • Lean turkey products • Fresh salads • Bottled water, Healthy Cow milk • No fried foods • No raw meat products • More fresh fruit offered

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