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. Agenda
• Background
– School Funding
– Property Tax Levies
– Budgets
• District Financials
– 2013 Actual
– 2014 Adopted Budget
• Proposed Taxes – 2013 Payable 2014 Levy
• Public Comment
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. 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. 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. 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. 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. 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
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. 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. 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. 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. 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%
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
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. 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
