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 2016–2017 is $147.6 million, as shown in detail on Table 4 on the next page. Overall, General Fund revenues have increased 1.4 percent when compared to the previous year’s budget. In the SFA, the funding of statewide student growth and inflation increased for the fourth time in seven years, resulting in approximately 75.0 percent of the $2.0 million increase in the overall General Fund budgeted revenues. This program funding increase is minor when compared to the $14.0 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 decrease slightly in fiscal year 2016–2017, as indicated in Table 4 on the next page. The local assessed value of taxable property within the district is projected to grow 0.5 percent. The decrease in property tax revenues increases 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 the English Language Proficiency Act (ELPA). This General Fund revenue is determined through state and legislative action. Categorical revenues budgeted for fiscal year 2016–2017 total $4.5 million, which increased slightly from the previous year’s budget. Federal revenues received for Title I schoolwide grants are decreasing by $0.1 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 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 $37,856,049
Revenues:
Property Taxes 38,457,803
Mill Levy Overrides 28,813,581
Specific Ownership Taxes 6,021,609
Interest Income 85,000
Other Local Income 4,878,632
State Revenue 68,248,436
Federal Grants 847,000
Transfers 208,042
Total Revenues 147,560,103
Total Funds Available $185,416,152

 

Property Taxes/Mill Levy Overrides 45.7%
State/Federal Funding 46.9%
Specific Ownership Taxes 4.1%
Other 3.3%

Annual Budget Summary

2016–2017 District Funds

 

Appropriation

General Fund $185,416,152
Risk Management Fund 3,702,211
Bond Redemption Fund 23,401,371
Building Fund 28,270,615
Capital Projects Fund 5,899,898
Designated Purpose Grants Fund 6,117,955
Student Athletic and Activities Fund 5,362,408
Nutrition Services Fund 5,337,758
Extended Day Care Program Fund 6,676,878
Total $270,185,246

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 $90,722,019
Benefits 28,651,864
Purchased Services 6,228,753
Supplies and Materials 9,164,132
Capital Outlay/Other 1,238,413
Charter Schools 7,888,803
Transfers Out 6,455,239
Total Expenditures $150,349,223
Total Appropriation $185,416,152

 

Salaries 60.3%
Benefits 19.1%
Purchased Services 4.1%
Supplies 6.1%
Charter Schools 5.3%
Transfers 4.3%
Capital Outlay/Other 0.8%

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