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 2018–2019 is $156.7 million. Overall, General Fund revenues have increased 4.5 percent when compared to the previous year’s budget. In the SFA, the funding of statewide student growth and inflation increased for the sixth time in nine years, resulting in approximately 91.1 percent of the net $6.7 million increase in the overall General Fund budgeted revenues. This program funding increase is minor when compared to the $11.0 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 increase in fiscal year 2018–2019. The local assessed value of taxable property within the district is projected to grow 0.5 percent. The slight 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 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 2018–2019 total $4.7 million, which increased slightly from the previous year’s budget. Federal revenues received for Title I schoolwide grants are decreasing by $0.2 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 $34,728,995
Revenues:
Property Taxes 43,179,537
Mill Levy Overrides 28,813,581
Specific Ownership Taxes 6,702,806
Interest Income 300,000
Other Local Income 4,215,228
State Revenue 72,441,733
Federal Grants 752,912
Transfers 263,196
Total Revenues 156,668,993
Total Funds Available $191,397,988

 

Property Taxes/Mill Levy Overrides 46.0%
State/Federal Funding 46.7%
Specific Ownership Taxes 4.3%
Other 3.0%

Annual Budget Summary

2018–2019 District Funds

 

Appropriation

General Fund $191,397,988
Risk Management Fund 4,195,005
Bond Redemption Fund 29,220,929
Building Fund 2,597,875
Capital Projects Fund 7,045,270
Designated Purpose Grants Fund 5,995,152
Student Athletic and Activities Fund 4,944,231
Nutrition Services Fund 5,198,828
Extended Day Care Program Fund 8,245,653
Total $258,840,931

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 $96,982,488
Benefits 32,488,074
Purchased Services 6,669,402
Supplies and Materials 9,391,326
Capital Outlay/Other 1,831,017
Charter Schools 8,330,336
Transfers Out 7,035,302
Total Expenditures $162,727,945
Ending Fund Balances 28,670,043
Total Appropriation $191,397,988

 

Salaries 59.6%
Benefits 20.0%
Purchased Services 4.1%
Supplies 5.8%
Charter Schools 5.1%
Transfers 4.3%
Capital Outlay/Other 1.1%

2018 Mill Levy Certification

General Fund Mill Levies Tax Revenues
Public School Finance Act Levy 25.353 $43,035,004
Overrides:    
Hold Harmless 1.364 2,315,347
Abated and Refunded Taxes 0.343 582,517
1988 Override Election 1.766 2,998,234
1997 Override Election 2.945 5,000,000
2004 Override Election 3.829 6,500,000
2010 Override Election 7.069 12,000,000
Total General Fund 42.669 72,431,102
Bond Redemption Fund 8.497 14,423,752
Total All Funds 51.166 $86,854,854