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2010-2011 Annual Meeting Financials

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This is the presentation given by business services director Gary Kvasnica at the 2010-2011 Annual meeting of the Kimberly Area School District

This is the presentation given by business services director Gary Kvasnica at the 2010-2011 Annual meeting of the Kimberly Area School District

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    2010-2011 Annual Meeting Financials 2010-2011 Annual Meeting Financials Presentation Transcript

    • KIMBERLY AREA SCHOOL DISTRICT 2010 ANNUAL MEETING Monday September 27, 2010 6:30 PM - Budget Hearing 7:00 PM - Annual Meeting KIMBERLY HIGH SCHOOL W2662 Kennedy Avenue Kimberly WI 54136
    • KIMBERLY AREA SCHOOL DISTRICT BUDGET HEARING Presented by: Gary Kvasnica Director of Business Services
    • KIMBERLY AREA SCHOOL DISTRICT BUDGET MESSAGE THE YEAR IN REVIEW – 2009/10
    • KIMBERLY AREA SCHOOL DISTRICT BUDGET MESSAGE THE YEAR IN REVIEW – 2009/10 The Kimberly Area School District continues to provide our community with great value STUDENT ACHIEVMENT High Achieving Low Spending
    • KIMBERLY AREA SCHOOL DISTRICT BUDGET MESSAGE THE YEAR IN REVIEW – 2009/10 Compiled by the Wisconsin Tax Payers Alliance Wisconsin Knowledge and Concepts Exam Results *Pct. - Percentage of students who test advanced or proficient **Decile - Ranking of 1 through 10 with 1 being the highest 4th Grade State Avg 81% 81% Kimberly 90% 3 92% 2 8th Grade State Avg. 84% 78% Kimberly 93% 2 86% 4 10th Grade State Avg. 77% 71% Kimberly 90% 1 85% 2 Reading Math * Pct . ** Decile * Pct . **Decile
    • KIMBERLY AREA SCHOOL DISTRICT BUDGET MESSAGE THE YEAR IN REVIEW – 2009/10 Compiled by the Wisconsin Tax Payers Alliance DISTRICT PER STUDENT EXPENDITURES 2009-10 BUDGET     Instruction               Comparative Exp.     Salary & Pupil Instr. Bldg. Pupil Capital Exp/ Total     Name Total Fringe Serv. Supp. Admin. Grds. Trans. Debt Exp. Amt. Decile K12 District Avg. $ 7,244 $ 6,067 $ 544 $ 617 $ 908 $ 1,152 $ 485 $ 791 $ 12,366 $ 10,465 Kimberly $ 6,472 $ 5,271 $ 464 $ 511 $ 704 $ 968 $ 292 $ 1,115 $ 11,248 $ 9,118 $ 10 Kimberly Vs. State $ (772) $ (796) $ ( 80) $ (106) $ (204) $ (184) $ (193) $ 324 $ (1,118) $ (1,347) % K12 State Avg. -10.66% -13.12% -14.71% -17.18% -22.47% -15.97% -39.79% 40.96% -9.04% -12.87%
    • KIMBERLY AREA SCHOOL DISTRICT YEAR IN REVIEW - 2009/10 STATE BUDGET SHORTFALL Cost-of-Living Increase under Revenue Controls decreased by $75 per student or approximately $308,000 Less Money to Operate State aid reduced by approximately 2.5% Under Revenue Controls decreases in State Aid result in increased taxes Taxes increased by 8.38% in 09/10
    • KIMBERLY AREA SCHOOL DISTRICT YEAR IN REVIEW - 2009/10 NEW LABOR LEGISLATION Qualified Economic Offer (QEO) Eliminated from Teacher Contracts
      • Under QEO District could offer a total compensation package
      • (salary & benefits) of 3.8% without having to go to arbitration
      - Helped keep labor costs in line with state imposed revenue controls Arbitration rules revised
      • Ability to pay and local economic conditions no longer given greatest
      • weight in awarding arbitration decisions
    • KIMBERLY AREA SCHOOL DISTRICT THE YEAR IN REVIEW- 2009/10 Increase in Wisconsin Retirement System Contributions As a result of the economic downturn, investments used to pay retirement benefits for state employees had a significant decline in value To make up for losses, the Wisconsin Retirement System increased required contributions by .6% to 11% of an employee’s salary Fortunately - District paid off unfounded portion of the Wisconsin Retirement System liability in 08/09 thereby lessening the impact of the increase
        • Additional cost to the District of $234,196
    • KIMBERLY AREA SCHOOL DISTRICT FEDERAL STIMULUS FUNDING Purpose: Stimulate Economy & Aid Financially Strapped School Districts American Recovery and Reinvestment Act (ARRA) District received a one-time grant of $946,414 to be used over the 9/10 and 10/11 school years to help implement student achievement initiatives for our special education students YEAR IN REVIEW - 2009/10
    • KIMBERLY AREA SCHOOL DISTRICT YEAR IN REVIEW 2009/10 Energy Conservation The one-time freed up funding was then used to implemented several energy conservation projects that will help reduce future operating costs District funds that would have been used for special education related costs were reduced because of Federal Stimulus Funding
    • ENERGY CONSERVATION Replaced an older boiler at Sunrise with a new energy efficient system Retrofitted lighting Systems at Sunrise KIMBERLY AREA SCHOOL DISTRICT THE YEAR IN REVIEW – 2009/10 Implemented additional automated energy controls Replaced windows at Janssen Replaced an older boilers at Westside with a new energy efficient system
    • KIMBERLY AREA SCHOOL DISTRICT THE YEAR IN REVIEW – 2009/10 Janssen Lunch Room Windows Before After
    • KIMBERLY AREA SCHOOL DISTRICT Budget Message THE YEAR IN REVIEW - 2009/10 OTHER FACILITY IMPROVEMENTS
    • KIMBERLY AREA SCHOOL DISTRICT WHAT'S NEW IN 2009/10 Westside School Improvements Final Year of a 3-Year Carpet Replacement Plan 08/09 09/10
    • KIMBERLY AREA SCHOOL DISTRICT YEAR IN REVIEW - 2009/10 Westside School Improvements Deteriorated Concrete and Asphalt in Front Drive Replaced Before After
    • KIMBERLY AREA SCHOOL DISTRICT YEAR IN REVIEW - 2009/10 Janssen Improvements Replaced original Sinks, Faucets and Water Fountains Before After
    • KIMBERLY AREA SCHOOL DISTRICT YEAR IN REVIEW - 2009/10 Janssen Improvements Replaced antiquated Clocks with Automated Clocks Before After
    • KIMBERLY AREA SCHOOL DISTRICT YEAR IN REVIEW - 2009/10 Sunrise School Improvements Asphalt in North Playground Milled and Replaced Before After
    • KIMBERLY AREA SCHOOL DISTRICT YEAR IN REVIEW - 2009/10 Mapleview Improvements Widened Receiving Room Door Before After Easier more Efficient Egress for Distributing Supplies
    • KIMBERLY AREA SCHOOL DISTRICT YEAR IN REVIEW 2009/10 Water Line Improvements Replaced deteriorated Water Main at Middle School Connected Water Line to the Woodland Field Irrigation System
    • KIMBERLY AREA SCHOOL DISTRICT YEAR IN REVIEW 2009/10 JRG Middle School Improvements Before After Replaced old Locker Room Doors
    • KIMBERLY AREA SCHOOL DISTRICT YEAR IN REVIEW 2009/10 JRG Middle School Improvements RE-ROOFED SECTION OVER TECH ED AND ART ROOM
    • KIMBERLY AREA SCHOOL DISTRICT FACILITIES The improvements just listed have been paid for out of Capital Improvements Fund Helps insure that Capital Improvements done when needed Tax Levy for this Fund is included within Revenue Limits Separate Fund that can only be used for Capital Improvements
    • KIMBERLY AREA SCHOOL DISTRICT THE YEAR IN REVIEW - 2009/10 TECHNOLOGY IMPROVEMENTS Replaced old Computers at the Middle School Added Hardware and Software to improve interoperability between different software products Replaced Network Switches to increase performance Installed video projectors at High School and Middle School to enhance learning Increased Storage Capacity Implemented Mobile Computer Lab at Middle School to enhance learning
    • KIMBERLY AREA SCHOOL DISTRICT YEAR IN REVIEW - 2009/10 Post Retirement Benefits Paid Health & Dental Benefits for certain staff retiring after age 55 Negotiated as a cost saving measure many years ago
      • Cost of Insurance has risen dramatically
      Several recent developments have Impacted
      • New Accounting Requirements requiring Districts to pre-fund this Liability
      The costs of these future retirement benefits will be substantial To help fund this future lia bility the District established a Trust in 2002/03 Post Retirement Benefits
    • KIMBERLY AREA SCHOOL DISTRICT YEAR IN REVIEW - 2009/10 09/10 Contributions Amount in Trust if debt not included Post Retirement Benefit Trust Disbursements Interest Earned $2,042,275 $811,933 $ 37,777 $3,633,601 CDO Investment Portion of Trust Defaulted in 09/10 There is $4,178,630 in debt is associated with the CDO Investment Although we are not legally require to repay this debt, it is currently accounted for in the Trust Including debt the Trust has a -$545,029 Fund Balance
    • KIMBERLY AREA SCHOOL DISTRICT YEAR IN REVIEW - 2009/10 Settled Labor Agreements Para-Professionals Association Custodial and Maintenance Association
    • Continued Health Insurance Cost Containment KIMBERLY AREA SCHOOL DISTRICT YEAT IN REVIEW – 2009-10 Our Non-Teaching Staff moved from a Point-of-Service Network to a Single Provider System (HMO) The rising cost of health Insurance continues to be a major concern in this era of revenue controls Cost of a Family Plan approximately $2,000 less than would have been under the old plan
    • KIMBERLY AREA SCHOOL DISTRICT YEAR IN REVIEW - 2009/10 Enrollment continued to Grow An increase of 45 Full Time Equivalent (4K and 5K count as .5) in students 09/10 vs. 132 in 08/09 At Slower Rate
    • KIMBERLY AREA SCHOOL DISTRICT WHAT’S NEW IN 2010/11!
    • KIMBERLY AREA SCHOOL DISTRICT BUDGET MESSAGE WHAT’S NEW IN 2010/11 STUDENT ACHIEVMENT Kimberly High School was recently recognized by Newsweek Magazine as one of the Best High Schools in America
    • America's Best High Schools: The List Each year, NEWSWEEK picks the best high schools in the country based on how hard school staffs work to challenge students with advanced-placement college-level courses and tests . Just over 1,600 schools—only 6 percent of all the public schools in the U.S.—made the list .  This year's rankings have some fantastic new interactive features. We’ve teamed up with a data company called Factual to create individual profile pages for each school where students and faculty can comment and contribute. Check out the profiles by clicking on the name of any school in the list. And don't miss this photo gallery of the top 20 schools , the list of the public schools that are too elite for our rankings, a quiz about celebrity nerds , and a gallery of the 13 best movies about high school .  (For more information about how our rankings are calculated, see our FAQ .)
    • Wisconsin Schools In Newsweek’s - 2010 Best High Schools in America Arrowhead Muskego Brookfield Central Nathan Hale Brookfield East New Berlin Eisenhower Cedarburg New Berlin West Eau Claire Memorial Nicolet Union Gibraltar Area Oak Creek Grafton Pewaukee Greendale Riverside University Homestead Waukesha North Kettle Moraine Waukesha South Kimberly Waukesha West Marshfield Wauwatosa East Middleton West Bend East Milwaukee School of Languages West Bend West Mukwonago Westosha Central Whitefish Bay
    • KIMBERLY AREA SCHOOL DISTRICT WHAT’S NEW IN 2010/11 CONTINUED STATE BUDGET SHORTFALL Approximately $650,000 less as a result of the cost-of-living decrease under Revenue Controls Less Money to Operate Increased taxes Under Revenue Controls less State Aid results in increased taxes
    • KIMBERLY AREA SCHOOL DISTRICT FEDERAL EDUCATION JOBS BILL To save and create jobs for financially strained school districts Signed into law in late August WHAT’S NEW IN 2010/11 Kimberly will be receiving $758,168 over a two year period We will be using approximately $250,000 in 10/11 to recall laid off para-professionals and hire additional limited term teachers to help reduce class sizes The published budget does not include this amount as we not aware of how to account for this funding before the budget had to be published The $250,000 will be accounted for when the budget is finalized in October The additional funding will have no impact on the tax levy
    • KIMBERLY AREA SCHOOL DISTRICT WHAT’S NEW IN 2010/11 Increase in Wisconsin Retirement System Contributions To make up for losses in investments used to pay retirement benefits The Wisconsin Retirement System has once again increased required contributions by .6% to 11.6% of an employee’s salary
        • Additional cost to District of $200,731
    • KIMBERLY AREA SCHOOL DISTRICT WHAT’S NEW IN 2010/11 FACILITY IMPROVEMENTS
    • KIMBERLY AREA SCHOOL DISTRICT WHAT'S NEW IN 2010/11 Westside School Improvements Deteriorated Asphalt in upper playground Replaced Before After
    • KIMBERLY AREA SCHOOL DISTRICT WHAT’S NEW IN 2010/11 Sunrise School Improvements First Year of a 3-Year Carpet Replacement Plan Before After
    • KIMBERLY AREA SCHOOL DISTRICT WHAT’S NEW IN 2010/11 Sunrise School Improvements RE-ROOFED SECTION “C” OF BUILDING
    • KIMBERLY AREA SCHOOL DISTRICT WHAT’S NEW IN 2010/11 Sunrise School Improvements Improved Drainage
    • KIMBERLY AREA SCHOOL DISTRICT WHAT’S NEW IN 2010/11 JRG Middle School Improvements Theatre upgrade
    • KIMBERLY AREA SCHOOL DISTRICT WHAT’S NEW IN 2010/11 High School Improvements Refinished Gym Floor
    • KIMBERLY AREA SCHOOL DISTRICT WHAT'S NEW IN 2010/11 Resurfaced Football Stadium Track
    • KIMBERLY AREA SCHOOL DISTRICT WHAT’S NEW IN 2010/11 Energy Conservation With the Installation of a new heating system and lighting retrofit at Sunrise Elementary all of our schools should have above average energy efficiency To reduce paper consumption, toner costs and energy consumption, the District will be implementing an automated Copier/Print System at the High School Estimate a 20% reducing in paper consumption 122,505 pages or 8,697 lbs of CO2
    • KIMBERLY AREA SCHOOL DISTRICT WHAT'S NEW IN 2010/11 TECHNOLOGY IMPROVEMENTS Installation of various equipment for wireless computer network to improve access and enhance learning Student Response System that will allow teachers to create interactive real-time student assessments to improve instruction Digital Distribution System for TV/Cable Access at Westside
    • KIMBERLY AREA SCHOOL DISTRICT WHAT’S NEW IN 2010/11 Settled Labor Agreement Board ratified our 09-11 Teacher Contract on September 13, 2010 Provides fair compensation in difficult economic times Helps reduce future post retirement benefit costs
    • Health and Wellness KIMBERLY AREA SCHOOL DISTRICT WHAT’S NEW IN 2010/11 Our Food Service Program will be participating in the Michele Obama HealthierUS School Challenge at JR Gerritts Middle School by providing meals that exceed current federal nutritional standards All but one of our labor groups have an incentive to participate in the District’s Wellness Program
    • KIMBERLY AREA SCHOOL DISTRICT WHAT’S NEW IN 2010/11 Post Retirement CDO Investment and Lawsuit In District believes it was mislead in its Collateralized Debt Obligation (CD) investment made in 2006 and has filed a lawsuit along with 4 other Wisconsin School Districts seeking rescission, damages and attorney fees The District is not legally obligated to repay this debt If not settled, we anticipate a court date in 2011 or 2012 In conjunction with investment, the District issued $4,300,000 in asset backed notes (debt) At the July 12, 2010 Board Meeting, the board elected not to include an appropriation in the 10/11 Budget for the $4,178,000 remaining debt at this time because of our outstanding lawsuit
    • KIMBERLY AREA SCHOOL DISTRICT WHAT’S NEW IN 2010/11 Post Retirement CDO Investment and Lawsuit As a result of Districts action not to repay any of the outstanding debt at this time, Moody’s Investors Service , a credit rating agency has downgraded the District’s bond ratting We don’t anticipate it having any impact on our borrowing costs as we have no immediate expansion plans and our short-term cash flow borrowing is minimal Went from Aa2 to Aa3 with a stable outlook Aa3 is considered high quality
    • Enrollment KIMBERLY AREA SCHOOL DISTRICT WHAT’S NEW IN 2010/11 The District projects continued growth at a slower rate
    • KIMBERLY AREA SCHOOL DISTRICT THE FUTURE
    • KIMBERLY AREA SCHOOL DISTRICT THE FUTURE The District receives a large percentage of its funding from the State State has had difficulty balancing its Budget over the past several years Expected to worsen with recent economic decline and continued structural imbalances of the budget District will need to remain diligent to maintain its strong financial position It is likely that there will be even more restrictive revenue controls and further reductions in state aid
    • Enrollment Growth KIMBERLY AREA SCHOOL DISTRICT THE FUTURE The District receives significantly less revenue per student than the state average Offset in past by the District’s rapid enrollment growth As growth and corresponding revenue increases lessen, we will need to adjust our spending accordingly
    • KIMBERLY AREA SCHOOL DISTRICT THE FUTURE Wisconsin Retirement System Contributions As a result of the recent economic downturn, investments used to pay retirement benefits for state employees have declined substantially To make up for these losses, School Districts will need to substantially increase contributions over the next several years We need to work with our labor groups to have them help share the financial burden of these increases
    • KIMBERLY AREA SCHOOL DISTRICT THE FUTURE Health Insurance The District, our Labor Unions, Health Care Providers, Insurance Carriers, State and Federal Government must all work together to address issues! Costs continue to rise Recent National Health Care Legislation is likely to accelerate cost increases in the short-term
    • KIMBERLY AREA SCHOOL DISTRICT THE FUTURE Labor Relations With the elimination of labor cost controls (QEO) and more restrictive revenue limits The District will need to work closely and creatively with our labor groups to provide fair compensation without eroding the quality of education
    • KIMBERLY AREA SCHOOL DISTRICT THE FUTURE Energy Costs Less money will be available to educate children unless we continue to find ways to reduce energy consumption Energy Costs are rising at a faster rate then our Revenue The District has been a leader in Energy Conservation
    • KIMBERLY AREA SCHOOL DISTRICT THE FUTURE CHALLENGE With further limitations on revenue and increasing costs Difficult choices may need to be made District is currently in good Financial Shape We will need to prioritize what is most important
    • KIMBERLY AREA SCHOOL DISTRICT BUDGET MESSAGE TAX DEFINITIONS
      • Tax Levy
      • Tax Rate
      The amount a homeowner would pay for every $1,000 of Equalized Property Value If the Tax Rate were $9.00 per $1000 of Equalized Valuation and an individuals property had an equalized value of $100,000 the tax rate would be $900 Total Amount of Tax Revenue to be collected Assessed Value is the property value as determined by the individual Municipality Equalized Value is total Fair Market Value of all properties within the District. This includes several municipalities.
    • KIMBERLY AREA SCHOOL DISTRICT BUDGET MESSAGE ASSUMPTIONS AFFECTING TAX LEVY AND RATE FOR 2010/11 - 35 Additional Students - If more Students, Revenue Cap and Tax Levy will increase
      • Revenue Limit
      • Property Valuation
      - Estimated at 0% increase. If higher, Tax Rate will decrease The above estimates should be finalized in October!
      • Equalization (State) Aide reduction
      - If more than projected, Tax Levy will increase
      • Business Computer Valuation
      - If higher than projected, Tax Levy will decrease - Cost of Living Increase of $200 per student
    • KIMBERLY AREA SCHOOL DISTRICT BUDGET HIGHLIGHTS TAX LEVY GENERAL FUND DEBT SERVICE CAPITAL IMPROVEMENTS *COMMUNITY SERVICE TOTAL Actual 2009-10 $11,069,298 $4,049,080 $531,000 $31,516 $15,680,894 Budget Dollar Percent 2010-11 Change Change $12,065,672 $ 996,374 9.00% $462,900 -$68,100 -12.82% $16,672,024 $ 991,130 6.32% $4,128,558 $79,478 1.96% $14,894 - $16,622 -52.74%
    • KIMBERLY AREA SCHOOL DISTRICT BUDGET HIGHLIGHTS - - State Aid Revenue Limit = Tax Levy Revenue Limit State Aid Tax Levy Limit Increase Aid Increase Levy Increase 2006-07 $ 33,267,925 2007-08 $ 35,349,853 $ 2,081,928 $ 22,347,729 $ 24,863,053 $ 2,515,324 $ 10,920,196 $ 10,486,800 $ - 433,396 ) 2008-09 $ 37,652,963 $ 2,303,110 $ 26,837,852 $ 1,974,799 $ 10,815,111 $ 328,311 2009-10 $ 39,381,230 $ 1,728,267 $ 27,344,853 $ 507,001 $ 12,036,377 $ 1,221,266 2010-11 $ 40,857,767 $ 1,476,537 $ 27,975,861 $ 631,008 $ 12,881,906 $ 845,529
    • TAX RATE PER $1,000 OF EQUALIZED ASSESSED VALUATION GENERAL FUND DEBT SERVICE CAPITAL IMPROVEMENTS COMMUNITY SERVICE TOTAL Actual 2009-10 $6.63 $2.42 $0.32 $0.02 $ 9.39 Budget DOLLAR PERCENT 2010-11 * CHANGE CHANGE $7.28 $0.59 9.05% * Tax rate is estimated. The actual rate can not be determined until property valuation is certified by the Department of Revenue in October. $0.28 -$0.04 -15.63% $0.01 -$ 0.01 -50.00% $9.98 $0.59 6.28% $2.47 $0.05 2.07%
    • Increased Tax Rate Impact Examples
      • Assuming a Tax Rate increase of $.59 per $1,000
      • of Equalized (Market) Value
      Home Value Tax Increase $100,000 $59.00 $150,000 $88.50 $200,000 $118.00
    • * 2010-10 Property Valuations and the corresponding Tax Rate are estimated. Actuals can not be determined until property valuation is certified by the Department of Revenue in October.
    • How much are the taxes for my home going to increase? The tax levy and rates can not be finalized until 3 rd Friday in September enrollment numbers are finalized and approved by the State in October. Municipalities are tax based on assessed value not market value. The assessed value will vary between the 5 municipalities within the District’s boundaries. The tax rate is based on the gross school levy (tax). You need to subtract out the “School Levy Credit” to determine the net school levy. The school levy credit for each municipality is not determined until December. Tax rate increases are based on equalized (market) value. Equalized values will not be available until mid-October. Nobody can tell you now!
    • What is the School Levy Credit ? The School Levy Credit is a “below the line” credit on the property tax statement initially paid to the municipality to lower school taxes.
    • What is the School Levy Credit ? Favors high spending, property wealthy districts. Kimberly is a low spending district with below average property wealth per student. Per a February 2, 2010 study by the Legislative Fiscal Bureau, the Kimberly School District’s levy would have been $227,442 less if general state aid was used instead of the levy credit Distributed based on each municipalities share of statewide school levies during the preceding 3 years While traditional general state school aide to Districts has been flat the past few years, the levy credit has increased dramatically
    • FUND ACCOUNTING
      • District is required by law to account for money in separate accounting
      • entities called funds.
      • Each fund has a specific purpose.
      • Each Fund accounts for money received (Revenue) and money spent
      • (Expenses)
          • General Fund
      • Operating Budget
      • By far the Largest Fund
      • Money comes primarily from State Aid and the Property Tax Levy
      Unaudited 2010-11 Dollar Percent GENERAL FUND 2009-10 Budget Change Change Revenue (Money Coming In) $40,802,373 $42,801,217 $1,998,844 4.90% The increase in total revenue is primarily related to an estimated $996,374 increase in Property Taxes as a result of a reduction in General State Aid. General State Aid is projected to increase by $631,008. The other significant increase is $300,614 for Revenue from other school districts for their children attending our District under Open Enrollment
    • Salary and Benefit Expenses are budgeted to increase by $1,278,686 Unaudited 2010-11 Dollar Percent GENERAL FUND 2009-10 Budget Change Change Expenses (Money Going Out ) $40,638,434 $42,801,217 $2,162,783 5.32%
    • KIMBERLY AREA SCHOOL DISTRICT 2010-11 STAFFING Additional Staff added with funding from the recently enacted “Education Jobs” law are not included above. Net Decrease of -1.9 Employees
      • Staffing Additions Include:
      • Special Education Teacher
      • (1) Elementary Teacher
      • (.5) School Year Nurse
      Staffing Reductions Include ( 1) Assistant High School Principal (.5) HS Librarian (.4) School Year Secretary (3) .5 Para Professionals (1) Maintenance Supervisor
    • SIGNIFICANT GENERAL FUND EXPENSE INCREASES
      • Interfund Transfer to the Special Education Fund as
      • result of a reduction in Federal Stimulus Funding
      • and increased Special Education Staff Salaries
      • and Benefits
      • Tuition Costs for Kimberly Residents
      • attending other School Districts
      + $1,048,781 + $290,000
      • Benefits for New and Existing
      • Staff including increased
      • contributions for Retirement Benefits
      + $605,349
        • Salaries for New and Existing Staff
      +673,337
    • SIGNIFICANT CAPTIAL EQUIPMENT PURCHASES Copier/Printer Replacements $78,000 $17,000 Various Equipment for Wireless Computer Networks Various Electronic devices to replace Textbooks Digital Distribution for TV/Cable Access at Westside $239,000 Student Response System for Interactive Real-time Assessments $40,000 $15,000
    • SIGNIFICANT GENERAL FUND EXPENSE DECREASES One Time money used for Energy Conservation Projects - ($450,000) Utility Costs - ($133,000) Budget includes the same dollar allotment per student as last several years in non-salaried expenditures where practical
    •  
    •  
    • 2010 ANNUAL MEETING Motion will be made to adopt a Tax Levy of $16,672,024 as presented to you, the electorate KIMBERLY AREA SCHOOL DISTRICT
    • More detailed information is available in the Annual Meeting Booklet or can be obtained at the Administrative Offices on 217 E. Kimberly Avenue Do you have any questions? Gary Kvasnica, the Director of Business Services, can be reached at 788-7900. Thank You!