Eastern Carver County Schools Tax Levy Certification

3,089 views
2,964 views

Published on

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
3,089
On SlideShare
0
From Embeds
0
Number of Embeds
2,560
Actions
Shares
0
Downloads
2
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide
  • Debt service – refunded in Spring 2012, funds held in escrow and paid out in FY 2013Without refunding:
  • Refunding – one time change in expense.
  • Causes for changes:General FundRMV Levies:Referendum – increase in enrollment/adjustments prior yearNTC LeviesAlternative Comp ($780,304)OPEB ($565,521)Building Lease (-$359,739)Community ServicesAdjustments (48,013)Debt ServicesBond Refunding (-$549,840)Debt Excess (-$317,123)Alt Facility Bonds (-$78,218)
  • 12.57% is District Directed 4,829,6769.32% is State requirement 3,581,81678.10% is Voter Approved 30,001,381District:
  • Eastern Carver County Schools Tax Levy Certification

    1. 1. Taxation Hearing Eastern Carver County Schools December 12, 2013
    2. 2. Requirement for Tax Hearing • • • • • • Held during regular meeting at 6:00 p.m. or later All school districts must hold a meeting Levy may be adopted at same meeting Review of current year budget Prior year actual revenue and expense Proposed levy discussed including: – Percent increase – Specific purpose and reasons for increases • Public allowed to comment
    3. 3. Agenda • Background – School Funding – Property Tax Levies – Budgets • District Financials – 2013 Actual – 2014 Adopted Budget • Proposed Taxes – 2013 Payable 2014 Levy • Public Comment
    4. 4. Background
    5. 5. School District Revenues & Taxes • • • • State sets funding formulas State sets tax policy for school districts State sets maximum authorized property tax levy State authorizes school board to submit referendums for operating and capital needs to voters for approval
    6. 6. State Funding per Pupil Unit Gross Formula Year Allowance 2004-05 $4,601 2005-06 4,783 2006-07 4,974 2007-08 5,074 2008-09 5,124 2009-10 5,124 2010-11 5,124 2011-12 5,174 2012-13 5,224 2013-14 5,302 2014-15 5,806 Average (10 years) Changes in Net Increase Pupil Excluding Weighting Roll-ins $0 182 191 100 50 0 0 50 50 78 $424 80 Net Percent Increase 0.0% 4.0% 4.0% 2.0% 1.0% 0.0% 0.0% 1.0% 1.0% 1.5% 1.5%
    7. 7. Fund Accounting Components • Record revenues and expenses in different funds • Each fund has a definite purpose • Tax levy is one source of revenue for some of the funds Fund Categories • General • Food Service • Community Service • Building Construction • Debt Service • Trust • Internal Service
    8. 8. How are School Taxes Spent? General 48.91% Provides funding for regular and special education instructional programs, transportation, equipment, building maintenance and health & safety Community Service Levy for community education services Debt Service – General & OPEB Levy for principal & interest Total 1.90% 49.19% 100.0%
    9. 9. General Levy • • • • • • Student enrollment Voter approved operating referenda Transportation Career and Technical Safe Schools Facilities – – – – Building age & square footage Operating Capital Health & Safety Alternative Facilities
    10. 10. Community & Debt Service Levies • Community Service – Based on adult population of District – Early childhood based on number of children < 5 years • Debt Service – Levy to pay principal & interest – Voter approved building projects – Alternative facility bonds
    11. 11. 2013 Actual and 2014 Adopted Budget Financials
    12. 12. FY 2013 Actual FY 2012 Fund Balance FY 2013 Revenue FY 2013 Expense FY 2013 Fund Balance 14,282,689 90,426,057 90,168,253 14,540,493 Food Service 756,462 4,845,068 4,664,837 936,693 Community Service 686,484 8,117,645 7,945,233 858,896 Capital Projects & Building Fund 10,403,267 11,182 2,813,988 7,600,461 Debt Service * Proprietary & Trust 48,907,989 6,154,980 91,545,046 2,275,280 66,077,829 1,428,466 74,375,206 7,001,794 Total 81,191,871 197,220,278 Fund General * Revenue includes refunding of 2007A bonds 173,098,606 105,313,543
    13. 13. FY 2014 Adopted Revenue Budget OPEB Debt Service Fund $716,337 1% Construction Fund 0% Debt Service Fund $19,416,566 14% Trust Funds $ 9,790,400 7% 2013-2014 Revenues by Fund Community Service Fund $7,920,818 6% Food Service Fund $4,773,320 3% General Fund $94,389,385 69%
    14. 14. FY 2014 Adopted Expense Budget OPEB Debt Service Fund $733,550 1% Debt Service Fund $17,145,316 12% Construction Fund $4,677,157 3% Community Svc Fund $7,847,326 6% Food Service Fund $4,929,528 3% Trust Funds $8,391,392 6% 2013-2014 Expenditures By Fund General Fund $96,895,057 69%
    15. 15. FY 2014 General Fund Revenue Sources Federal Sources 2,681,375 3% State Sources 71,772,138 76% Other 2,257,025 2% Local Property Taxes $17,678,847 19%
    16. 16. FY 2014 General Fund Expense Categories Supplies & Materials Purchased Services $3,707,202 $13,588,774 4% 14% Employee Benefits $16,044,736 17% Capital Outlay $1,920,511 2% Other Expenditures $251,548 0% Salaries $61,382,286 63%
    17. 17. Proposed Taxes
    18. 18. School District Tax Levy Category 2012 Pay 2013 FY 2014 2013 Pay 2014 FY 2015 Difference General Fund RMV Levies 13,713,909 12,510,886 -1,203,023 -8.8% General Fund NTC Levies 4,762,166 6,277,860 1,515,694 31.8% Total General Fund 18,476,075 18,788,746 312,671 1.7% 820,806 731,301 -89,505 -10.9% 18,400,154 18,122,401 -277,753 -1.5% 715,837 770,490 54,653 7.6% 38,412,872 38,412,938 66 0.0% Community Service Debt Service OPEB Total Levy % Change
    19. 19. District 112 Levy $45,000,000 $40,000,000 Gen-Voter Approved General-Non Voter Approved Community Ed Debt Service 4,460,385 5,598,342 3,958,435 18,892,891 5,584,363 19,115,991 20,074,692 18,529,142 4,648,102 850,691 4,762,166 9,008,111 12,040,766 07Pay08 FY2009 08Pay09 FY2010 09Pay10 FY2011 10Pay11 FY2012 9,780,635 11,222,687 06Pay07 FY2008 13,713,909 11,248,530 6,966,946 11,338,629 741,164 3,678,209 $5,000,000 4,913,359 797,297 731,301 777,901 10,788,444 $10,000,000 699,168 834,804 13,269,098 $15,000,000 774,018 820,806 18,937,943 $20,000,000 12,687,460 $25,000,000 17,974,349 16,211,633 $30,000,000 18,006,633 $35,000,000 $0 05Pay06 FY2007 11Pay12 FY2013 12Pay13 FY2014 13Pay14 FY 2015
    20. 20. Property Taxes by Year & Type $285,000 Property Value Payable Year School Year Residential Homestead Commercial Industrial Agricultural Land & Bldg 2003 2003-04 1,466 2,269 599 2004 2004-05 1,585 2,375 589 2005 2005-06 1,433 2,139 527 2006 2006-07 1,399 2,089 515 2007 2007-08 1,624 2,372 558 2008 2008-09 1,623 2,379 564 2009 2009-10 1,590 2,337 558 2010 2010-11 1,611 2,365 563 2011 2011-12 1,830 2,693 645 2012 2012-13 1,941 2,864 689 2013 2013-14 2,028 2,978 709 2014 2014-15 2,026 3,022 744
    21. 21. Historical School District Property Tax 3,500 Residential Commercial Farm $285,000 Property 3,000 2,500 2,000 1,500 1,000 500 0 Pay 03Pay 04Pay 05Pay 06Pay 07Pay 08Pay 09Pay 10Pay 11Pay 12Pay 13Pay 14
    22. 22. School District Levies 69.9% of Total School District Levies are Voter Approved Non-Voter Approved Debt 4.76% Voter Approved Referendum 19.09% Voter Approved Debt 44.44% The school board only has control over 10.8% of the District’s total levy Non-Voter Approved General 23.43% Non-Voter Community Services 1.90% Voter Approved Capital Projects 6.38%
    23. 23. Levy Certification – FY 2015 Eastern Carver County Schools General Fund Community Education $18,788,746.12 $731,300.56 Debt Service $18,892,891.42 Total $38,412,938.10
    24. 24. Public Comment
    25. 25. Contact DeeDee Kahring Director of Finance & Operations 952-556-6261 kahringd@district112.org

    ×