Budget & Finance

Where does the money come from?

The district’s General Fund receives revenue from federal, state, and local sources. Total estimated revenue for 2017–2018 is $150.0 million. Overall, General Fund revenues have increased 1.6 percent when compared to the previous year’s budget. In the SFA, the funding of statewide student growth and inflation increased for the fifth time in eight years, resulting in approximately 100.0 percent of the net $2.4 million increase in the overall General Fund budgeted revenues. This program funding increase is minor when compared to the $13.7 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 increase in fiscal year 2017–2018. The local assessed value of taxable property within the district is projected to grow 13.0 percent. The increase in property tax revenues decreases 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, at-risk, gifted and talented, and the English Language Proficiency Act (ELPA). This General Fund revenue is determined through state and legislative action. Categorical revenues budgeted for fiscal year 2017–2018 total $4.6 million, which increased slightly from the previous year’s budget. Federal revenues received for Title I schoolwide grants are increasing by $81,245.

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 decrease based on current trends surrounding gifts to schools, fees, and reimbursements and a reduction in contracted services with the district's two charter schools. 

Beginning Fund Balance $36,403,602
Revenues:
Property Taxes 43,588,738
Mill Levy Overrides 28,813,581
Specific Ownership Taxes 6,417,643
Interest Income 150,000
Other Local Income 4,065,970
State Revenue 65,782,024
Federal Grants 928,245
Transfers 216,536
Total Revenues 149,962,737
Total Funds Available $186,366,339

 

Property Taxes/Mill Levy Overrides 48.3%
State/Federal Funding 44.5%
Specific Ownership Taxes 4.3%
Other 2.9%

Annual Budget Summary

2017–2018 District Funds

 

Appropriation

General Fund $186,366,339
Risk Management Fund 4,080,633
Bond Redemption Fund 26,567,750
Building Fund 7,730,701
Capital Projects Fund 6,027,689
Designated Purpose Grants Fund 6,015,296
Student Athletic and Activities Fund 5,339,825
Nutrition Services Fund 5,173,261
Extended Day Care Program Fund 7,204,284
Total $254,505,778

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 $92,072,937
Benefits 29,941,617
Purchased Services 6,290,037
Supplies and Materials 10,810,632
Capital Outlay/Other 1,726,063
Charter Schools 7,971,055
Transfers Out 6,762,251
Total Expenditures $155,574,592
Ending Fund Balances 30,791,747
Total Appropriation $186,366,339

 

Salaries 59.2%
Benefits 19.3%
Purchased Services 4.0%
Supplies 7.0%
Charter Schools 5.1%
Transfers 4.3%
Capital Outlay/Other 1.1%

2017 Mill Levy Certification

General Fund Mill Levies Tax Revenues
Public School Finance Act Levy 25.353 $38,536,365
Overrides:    
Hold Harmless 1.523 2,315,347
Abated and Refunded Taxes 0.223 339,083
1988 Override Election 1.973 2,998,234
1997 Override Election 3.290 5,000,000
2004 Override Election 4.276 6,500,000
2010 Override Election 7.895 12,000,000
Total General Fund 44.533 67,689,029
Bond Redemption Fund 8.497 12,915,224
Total All Funds 53.030 $80,604,253