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|
|Mill Levy Overrides||28,813,581|
|Specific Ownership Taxes||6,021,609|
|Other Local Income||4,878,632|
|Total Funds Available||$185,416,152|
|Property Taxes/Mill Levy Overrides||45.7%|
|Specific Ownership Taxes||4.1%|
2016–2017 District Funds
|Risk Management Fund||3,702,211|
|Bond Redemption Fund||23,401,371|
|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|
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.
|Supplies and Materials||9,164,132|
|General Fund||Mill Levies||Tax Revenues|
|Public School Finance Act Levy||25.353||$38,536,365|
|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|