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Annual Budget Summary

2013–2014 District Funds

 

Appropriation

General Fund

$171,524,077

Bond Redemption Fund

   20,109,077

Capital Projects Fund

     4,183,649

Designated Purpose Grants Fund

     5,412,236

Extended Day Care Program Fund

     5,252,379

Food Services Fund

     5,942,413

Risk Management Fund

     3,029,135

Student Athletic and Activities Fund 

     5,417,257

Total

$220,870,223

Where Does the Money Come From?

The district’s General Fund receives revenue from federal, state, and local sources. Total estimated revenue for 2013–2014 is $135.4 million as shown in Table 4 on the next page. The majority of this revenue, $95.0 million or 70.2 percent, becomes available to the district through the Colorado Public School Finance Act of 1994 (as amended). This School Finance Act program revenue is determined through a formula which utilizes local property taxes, state-equalized specific ownership taxes, and state funds. Overall, the $135.4 million of General Fund revenues has increased 2.1 percent when compared to the previous year’s budget. The funding of statewide student growth and inflation in the SFA for the first time in four years is causing the $2.2 million increase in the overall General Fund budgeted revenues. This program funding increase is minor when compared to the $17.4 million of funding that has been cut by the inclusion of the negative factor in the SFA.

Property taxes generated from the SFA statutory fixed mill levy and state-equalized specific ownership tax revenues combined with the overall local contribution to the SFA are expected to grow in fiscal year 2013–2014 as indicated in Table 4. The state has projected growth of 3.6 percent in the local assessed value of taxable property within the district. The specific ownership taxes apportioned to the district by the county treasurer are anticipated to be higher from collections associated with new vehicle sales. Property tax revenue generated with voter-approved fixed dollar mill levy overrides do not change with fluctuations of assessed value.

In addition to the Colorado Public School Finance Act of 1994 (as amended), the district receives funding for categorical programs from the state of Colorado for pupil transportation, the Exceptional Children’s Education Act (special education), career and technical education, gifted and talented, and English language learners. This General Fund revenue is determined through state and legislative action. Federal revenues are received for Title I “school-wide” grants. Categorical revenues budgeted for fiscal year 2013–2014 total $4.0 million which represents a $0.3 million increase from the previous year’s budget.

The district also collects local revenues from non-equalized specific ownership taxes, net investment income, charter school administrative services, drivers’ education fees, transportation reimbursements, and for indirect costs from other funds. Non-equalized specific ownership taxes are improving along with the state-equalized share explained above. Other local income is expected to grow based on current trends surrounding gifts to schools, fees, and reimbursements.

Beginning Fund Balance

$36,158,303

Revenues:
     Property Taxes

  62,184,791

     Specific Ownership Taxes

    4,800,000

     Interest Income

        40,000

     Other Local Income

    3,917,816

     State/Federal Revenue

  64,265,415

     Transfers In/Charter Contracts

       157,752

           Total Revenues

 135,365,774

Total Funds Available

$171,524,077

Property Tax

46%

State/Federal Funding

47%

Specific Ownership Taxes

 4%

Other

 3%

Where Does The Money Go?

Approximately $0.75 out of every dollar is devoted to instruction activities. Salaries and benefits, supplies, and other costs related to instruction of students along with school building administration and special programs are included. Total support services account for $0.21 out of every dollar spent. Learning services, operations services, and transportation services are the largest expenditure areas in this component. Transfers to the Risk Management Fund, Capital Projects Fund, and Student Athletic and Activities Fund account for the remaining $0.04 out of every dollar spent.
 

Expenditures/Expenses  
     Salaries

 $84,067,316

     Benefits

   24,710,366

     Purchased Services

     6,605,225

     Supplies

   9,907,432

     Capital Outlay/Other

     1,202,308

     Charter Schools

     7,219,468

     Transfers Out

     5,950,748

           Total Expenditures

$139,662,863

           Total Appropriation

$171,524,077

Salaries

60%

Benefits

18%

Purchased Services

5%

Supplies

7%

Charter Schools

5%

Transfers

4%

Capital Outlay/Other

1%

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