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 2019–2020 is $164.4 million. Overall, General Fund revenues have increased 5.0 percent when compared to the previous year’s budget. In the SFA, the funding of statewide student growth and inflation increased for the seventh time in ten years. Additionally, the SFA is funding full-day kindergarten programs. Together, the SFA results in approximately 84.6 percent of the net $7.8 million increase in the overall General Fund budgeted revenues. This program funding increase is minor when compared to the $9.2 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 increase in fiscal year 2019–2020. The local assessed value of taxable property within the district is projected to grow 5.0 percent. The increase in property tax revenues decreases the state’s SFA funding obligation to the district. However, beginning in fiscal year 2019–2020, the state will provide funding through the school finance formula for full-day kindergarten educational programs. A student enrolled in a full-day kindergarten program will be funded at the same amount as students enrolled full-time in other grades. The specific ownership taxes apportioned to the district by the county treasurer from collections associated with new vehicle sales are anticipated to be stable. Property tax revenues 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 2019–2020 total $5.3 million, which increased slightly from the previous year’s budget. Federal revenues received for Title I schoolwide grants are decreasing by $0.4 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 decrease based on current trends surrounding gifts to schools, fees, reimbursements, and a reduction in contracted services with the district’s two charter schools. 

Beginning Fund Balance $28,426,526
Revenues:
Property Taxes 45,643,130
Mill Levy Overrides 28,813,581
Specific Ownership Taxes 6,859,375
Interest Income 641,995
Other Local Income 4,396,124
State Revenue 77,537,246
Federal Grants 325,000
Transfers 226,606
Total Revenues 164,443,057
Total Funds Available $192,869,583

 

Property Taxes/Mill Levy Overrides 45.2%
State/Federal Funding 47.4%
Specific Ownership Taxes 4.2%
Other 3.2%

Annual Budget Summary

2019–2020 District Funds

 

Appropriation

General Fund $192,869,583
Risk Management Fund 4,309,722
Bond Redemption Fund 62,747,367
Building Fund 348,686,916
Capital Projects Fund 7,740,954
Designated Purpose Grants Fund 7,294,180
Student Athletic and Activities Fund 5,569,707
Nutrition Services Fund 5,389,587
Extended Day Care Program Fund 7,493,274
Total $642,101,290

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:  
Salaries $101,343,307
Benefits 35,842,877
Purchased Services 7,924,697
Supplies and Materials 8,563,867
Capital Outlay/Other 1,084,178
Charter Schools 9,445,441
Transfers Out 7,035,302
Total Expenditures $171,239,669
Ending Fund Balances 21,629,914
Total Appropriation $192,869,583

 

Salaries 59.2%
Benefits 20.9%
Purchased Services 4.6%
Supplies 5.0%
Charter Schools 5.5%
Transfers 4.1%
Capital Outlay/Other 0.7%

2019 Mill Levy Certification

General Fund Mill Levies Tax Revenues
Public School Finance Act Levy 25.353 $43,704,405
Overrides:    
Hold Harmless 1.343 2,315,347
Abated and Refunded Taxes 0.236 407,551
1988 Override Election 1.736 2,998,234
1997 Override Election 2.900 5,000,000
2004 Override Election 3.771 6,500,000
2010 Override Election 6.961 12,000,000
Total General Fund 42.303 72,925,537
Bond Redemption Fund 14.642 25,241,134
Total All Funds 56.945 $98,166,671