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Annual Budget Summary

2015–2016 District Funds

 

Appropriation

General Fund
 $181,817,181
Risk Management Fund
        3,444,643
Bond Redemption Fund
      21,837,154
Building Fund
      67,069,191
Capital Projects Fund
        6,092,967
Designated Purpose Grants Fund
        4,932,606
Student Athletic and Activities Fund
        5,121,237
Nutrition Services Fund
        5,828,042
Extended Day Care Program Fund 
       6,260,014
Total
$302,403,035

Where Does the Money Come From?

The district’s General Fund receives revenue from federal, state, and local sources. Total estimated revenue for 2015–2016 is $145.5 million, as shown in Table 4 on the next page. Overall, General Fund revenues have increased 3.1 percent when compared to the previous year’s budget. In the SFA, the funding of statewide student growth and inflation increased for the third time in six years, causing a $4.3 million increase in the overall General Fund budgeted revenues. This program funding increase is minor when compared to the $14.4 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 2015–2016, as indicated in Table 4. Arapahoe County has projected growth of 19.0 percent in the local assessed value of taxable property within the district. This increase in property tax revenues reduces the state’s SFA funding obligation to 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 ELPA. This General Fund revenue is determined through state and legislative action. Federal revenues are received for Title I schoolwide grants. Categorical revenues budgeted for fiscal year 2015–2016 total $4.4 million, which increased slightly 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 from other funds for indirect costs. 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
               $36,275,898
Revenues:
     Property Taxes
                 38,903,214
     Mill Levy Overrides
                 28,813,581
     Specific Ownership Taxes
                   5,619,680
     Interest Income
                         63,363
     Other Local Income
                   4,291,911
     State Revenue
                 66,682,272
     Federal Grants
                      980,000
     Transfers
                      187,262
           Total Revenues
              145,541,283
Total Funds Available
            $181,817,181

 

Property Taxes/Mill Levy Overrides
46.5%
State/Federal Funding
46.5%
Specific Ownership Taxes
  3.9%
Other
  3.1%

 
Where Does The Money Go?

Approximately $0.76 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 $0.20 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
  $90,107,571
     Benefits      27,395,882
     Purchased Services        6,196,058
     Supplies and Materials        8,862,923
     Capital Outlay/Other        1,302,131
     Charter Schools        7,761,279
     Transfers Out        6,200,227
           Total Expenditures $147,826,071
           Total Appropriation
$181,817,181

 

Salaries
61.0%
Benefits
18.5%
Purchased Services
  4.2%
Supplies
  6.0%
Charter Schools
  5.2%
Transfers
  4.2%
Capital Outlay/Other
  0.9%

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