|
2012–2013 District Funds
|
| |
Appropriation
|
| General Fund |
$168,030,672
|
| Bond Redemption Fund |
17,935,519
|
| Capital Projects Fund |
5,023,715
|
| Designated Purpose Grants Fund |
5,406,077
|
| Extended Day Care Program Fund |
5,056,666
|
| Food Services Fund |
5,886,180
|
| Risk Management Fund |
3,177,337
|
| Student Athletic and Activities Fund |
5,732,736
|
| Total |
$216,248,902
|
Where Does the Money Come From?
The district’s General Fund receives revenue from federal, state, and local sources. Total estimated revenue for 2012–2013 is $132.6 million. The majority of this revenue, $92.8 million or 69.98 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 $132.6 million of General Fund revenues is flat when compared to the previous year’s budget. The state’s reduced PPR created by the state’s funding cuts and growing negative state stabilization factor is the primary driver of the lackluster revenue growth. This is the third year a negative factor has been utilized by the state which actually lowered PPR for the first two years and allowed no funding increase for K-12 in fiscal year 2012–2013. The expected decrease in the average funded pupil count caused by declining enrollment is reducing the overall General Fund SFA budgeted program revenues by $0.3 million.
Property taxes generated from the SFA statutory fixed mill levy and state-equalized specific ownership tax revenues along with the overall local contribution to the SFA are expected to grow in fiscal year 2012–2013. The state has projected a 1.0 percent growth 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 increase due to the formula that incorporates the increased property tax with improved collections associated with new vehicle sales. Property tax revenue generated from 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 2012–2013 total $3.7 million which represents a $0.3 million decrease 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 from more gifts to schools, fees, and reimbursements.
| Beginning Fund Balance |
$35,443,042
|
| Revenues: |
| Property Taxes |
61,083,786
|
| Specific Ownership Taxes |
4,640,000
|
| Interest Income |
29,373
|
| Other Local Income |
3,859,863
|
| State/Federal Revenue |
62,812,180
|
| Transfers In/Charter Contracts |
162,428
|
| Total Revenues |
132,587,630
|
| Total Funds Available |
$168,030,672
|
| Property Tax |
46%
|
| State/Federal Funding |
47%
|
| Specific Ownership Taxes |
4%
|
| Other |
3%
|
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 |
$82,076,286
|
| Benefits |
23,086,049
|
| Purchased Services |
6,326,601
|
| Supplies |
10,887,219
|
| Capital Outlay/Other |
2,323,287
|
| Charter Schools |
6,601,606
|
| Transfers Out |
5,922,919
|
| Total Expenditures |
$137,223,967
|
| Total Appropriation |
$168,030,672
|
|
Salaries
|
60%
|
|
Benefits
|
17%
|
| Purchased Services |
4%
|
| Supplies |
8%
|
| Charter Schools |
5%
|
| Transfers |
4%
|
| Capital Outlay/Other |
2%
|
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