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Annual Budget Summary

2014–2015 District Funds

 

Appropriation

General Fund

$179,258,368

Risk Management Fund

      2,999,672

Bond Redemption Fund

   19,328,395

Designated Purpose Grants Fund

     6,079,514

Student Athletic and Activities Fund

     5,381,468

Building Fund

   50,172,969

Capital Projects Fund

     5,753,414

Nutrition Services Fund

     5,863,910

Extended Day Care Program Fund 

     5,946,359

Total

$280,784,069

Where Does the Money Come From?

The district’s General Fund receives revenue from federal, state, and local sources. Total estimated revenue for 2014–2015 is $141.3 million. Overall, General Fund revenues have increased 4.4 percent when compared to the previous year’s budget. In the School Finance Act (SFA), the funding of statewide student growth and inflation increased for the second time in five years is causing a $5.1 million increase in the overall General Fund budgeted revenues. This program funding increase is minor when compared to the $15.2 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 2014–2015 as indicated in Table 4. The state has projected growth of 0.9 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.

A portion of the revenue the district receives from the state is for categorical programs 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 2014–2015 total $4.0 million.

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

 $37,921,143

Revenues:
     Property Taxes

   61,920,213

     Specific Ownership Taxes

     5,356,000

     Interest Income

         63,363

     Other Local Income

     3,113,080

     State/Federal Revenue

   69,608,163

     Transfers In/Charter Contracts

     1,276,406

           Total Revenues

 141,337,225

Total Funds Available

$179,258,368

Property Tax

43.9%

State/Federal Funding

49.4%

Specific Ownership Taxes

  3.8%

Other

  2.9%

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

 $85,989,274

     Benefits

   27,415,606

     Purchased Services

     6,565,187

     Supplies

     8,616,497

     Capital Outlay/Other

     1,771,343

     Charter Schools

     7,509,865

     Transfers Out

     5,965,623

           Total Expenditures

$143,833,395

           Total Appropriation

$179,258,368

Salaries

59.8%

Benefits

19.1%

Purchased Services

  4.6%

Supplies

  6.0%

Charter Schools

  5.2%

Transfers

  4.1%

Capital Outlay/Other

  1.2%

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