2020-2021 final budget · 2020. 8. 25. · final budget (fb) may 18, 2020 strategic budget...

Special Meeting of the Board of School TrusteesMay 18, 2020Jason Goudie

Chief Financial Officer

2020-2021FINALBUDGET

2020-2021 FINAL BUDGET

of 19Jason Goudie May 18, 2020

Reference 4.02(A)

OVERVIEW

2020-2021 Timeline

Uncertainties

State Funding

Total Per Pupil Revenues

Student Enrollment and DSA

Where the Money Comes From

General Operating Revenues

Revenue: State Projections and Assumptions

Where the Money is Spent

Where Special Education Fund Money is Spent

Final Budget Comparison

Fund Balance Comparison

Unassigned Ending Fund Balance

Employee Contracts Status


of 19Reference 4.02(A)

2020-2021 TIMELINE

April May June July

Tentative Budget Submission required by April 15 to Nevada Department of Taxation

Fiscal Year 2021BeginsJuly 1, 2020

Final Budget Submission required by June 8 to Nevada Department of Taxation

January

Departments directed to provide flat budgets

Tentative Budget (TB)Regular Board SessionApril 23, 2020

December

Adoption Amended Final Budget (AFB)December 10, 2020

Adoption Final Budget (FB)May 18, 2020

Strategic Budget WorkbooksProvided to schools on January 15 based on projected enrollment

September

Strategic Budget WorkbooksUpdated with actual enrollment figures

Amended FinalBudget Submission required by January 1, 2021, to Nevada Department of Taxation



Coronavirus Disease 2019 (COVID-19) fiscal impacts

Possible recession impacts

Enrollment uncertainties

State of Nevada funding reductions to K-12 education

Senate Bill (SB) 551 court case related to legality of SB551(State of Nevada’s plan was to fund this from “Rainy Day”fund if Supreme Court ruled SB511 was not legal)

Amount of reimbursement and additional disaster fundingfrom the federal government

UNCERTAINTIES2020-2021 FINAL BUDGET


STATE FUNDINGBasic Guaranteed Support - Distributive School Account (DSA)

$4,489

$4,891$4,958 $4,962

$5,035$5,136

$5,257

$5,457$5,527 $5,512

$5,574

$5,700$5,781

$6,067$6,138

$4,300

$4,500

$4,700

$4,900

$5,100

$5,300

$5,500

$5,700

$5,900

$6,100 +$286+$71

+$204

+$402+$67 +$4

+$73+$101

+$121

+$200+$70 -$15

(General Operating Fund)

+$62

+$81+$126



TOTAL PER PUPIL REVENUES(General Operating Fund)

Does not include “Other Financing Sources,” which primarily are proceeds from bond issuances and transfers-in.

$4,891 $4,958 $4,962 $5,035 $5,136 $5,257 $5,457 $5,527 $5,512 $5,574 $5,700 $5,781 $6,067 $6,138

$214 $234 $234 $231 $235 $229 $239 $243 $256 $348 $384 $406

$431 $445

$1,330 $1,375 $1,346 $938 $917 $817 $877 $886 $943 $907

$1,163 $1,197 $1,213 $1,172 Total

$6,435

Total$6,567

Total$6,541 Total

$6,205 Total$6,288

Total$6,303

Total$6,574

Total$6,655

Total$6,710

Total$6,830

Total$7,247

Total$7,384

Total$7,712

Total$7,755

$‐

$1,000

$2,000

$3,000

$4,000

$5,000

$6,000

$7,000

$8,000

$9,000

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020Amended

FinalBudget

2021FinalBudget

Local Funding Outside of DSA primarily are revenues from local school support tax, property tax, governmental services tax, donations, other miscellaneous revenues.



300,000

302,000

304,000

306,000

308,000

310,000

312,000

314,000

316,000

318,000

320,000

322,000

324,000

326,000

328,000

330,000

314,684

317,506 317,084

316,927

FY20Q1

FY20Q2

FY20Q3

FY20Q4*

Average ADE = 316,550*

$6,067

STUDENT ENROLLMENT AND DSA

ADE = Average Daily Enrollment

(*Projected)

317,858

319,967 319,252

319,054

FY19Q1

FY19Q2

FY19Q3

FY19Q4

Average ADE = 319,033

$5,781

319,311

321,805 321,695 321,586

FY18Q1

FY18Q2

FY18Q3

FY18Q4

Average ADE = 321,099

$5,700

314,168

315,474 316,205

315,337

FY21Q1*

FY21Q2*

FY21Q3*

FY21Q4*

Average ADE = 315,296*

$6,138



DSA$806.1 32.5%

Other$141.2 5.7%

LSST$961.4 38.8%

(2/3)$381.0 15.4%

(1/3)$190.5 7.7%

Property Tax $571.5 23.0%

(B)

(C)

Basic Support Guarantee:Support per Student $1,922.5 ($6,138x313,205)Est. Special Education 140.2Support Guarantee $2,062.7Less: LSST 961.4 (A)Less: 1/3 Property Tax 190.5 (B)Less: Budget Reserve (COVID-19) 41.9Less: Charter Adjustments 63.0Distributive School Account $ 806.1 (C) 2010 2013 2017 2019 2021

Budget

Property Tax

General Operating Fund Revenues (in millions)

600

800

1000

1200

2011 2013 2015 2017 2019 2021Budget

Local School Support Tax (LSST)

(in millions)

(in millions)

FY 2020 General FundEnding Fund Balance$240.4 million includes unassigned balance of $48.6 million.

Where the Money Comes From

(A)



Description TB FY 2021 FB FY 2021 Change CommentsLocal School Support Tax $1,091,710,000 $961,361,000 ($130,349,000) See slide "Revenue: State Projections and Assumption"Ad Valorem (Property) Tax 552,442,000 571,511,000 19,069,000 See slide "Revenue: State Projections and Assumption"Governmental Services Tax 82,821,000 74,194,000 (8,627,000) See slide "Revenue: State Projections and Assumption"Two Percent Franchise Tax 4,680,000 4,680,000 0 3-year average of $4.7 millionE-Rate Reimbursements 3,230,000 3,230,000 0 3-year average of $3.2 millionLocal Government Taxes 1,380,000 1,380,000 0 3-year average of $1.5 millionTuition And Summer School 3,120,000 3,120,000 0 3-year average of $3.1 millionAdult Education 150,000 150,000 0 3-year average of $0.2 millionAthletic Proceeds 1,120,000 1,120,000 0 3-year average of $1.1 millionServices Provided 1,660,000 1,660,000 0 3-year average of $1.6 millionDonations And Grants

1,050,000 1,050,000 03-year average of $1.1 million (less: school generatedfunding was moved to Student Activities Fund)

Other Local Sources 9,590,000 9,590,000 0 3-year average of $9.4 million

Interest Income 3,660,000 3,660,000 0 3-year average of $4.5 millionTotal Local Sources 1,756,613,000 1,636,706,000 (119,907,000)

State Distributive Fund 723,945,000 806,072,000 82,127,000 See slide "Revenue: State Projections and Assumption"Total State Sources 723,945,000 806,072,000 82,127,000

Federal Impact Aid 140,000 140,000 0 3-year average of $0.1 millionForest Reserve 70,000 70,000 0 3-year average of $0.1 millionAdministrative Claiming 1,170,000 1,170,000 0 3-year average of $1.2 million

Total Federal Sources 1,380,000 1,380,000 0

Sales Of District Property 950,000 950,000 0 3-year average of $1.0 millionTotal Other Sources 950,000 950,000 0

Total Operating Revenues $2,482,888,000 $2,445,108,000 ($37,780,000)

GENERAL OPERATING REVENUES2020-2021 FINAL BUDGET


REVENUE: STATE PROJECTIONS AND ASSUMPTIONS

Property TaxFinal Budget FY 2021 = $ 571,511,000Tentative Budget FY 2021 = $ 552,442,000

Additional Revenue = $ 19,069,000

Local School Support Tax (LSST)Final Budget (FB) FY 2021 = $ 961,361,000Tentative Budget FY 2021 = $1,091,710,000

Less Revenue = ($ 130,349,000)

FY 2021 FB based on Nevada Department of Taxation’s FY 2021 Final Local Government Revenue Projection. In addition, an 11.5 percent reduction was applied to Nevada Department of Taxation’s FY 2021 Final Local Government Revenue Projection, due to FY 2021 LSST projection being issued prior to the COVID-19 state of emergency. The 11.5 percent reduction aligns CCSD with the same impact experienced during the Great Recession and decreased LSST by $125 million, which per Nevada’s K-12 funding plan this revenue loss will go as additional DSA funding, for a net revenue impact of $0.

FY 2021 FB based on Nevada Department of Taxation’s FY 2021 Proforma Ad Valorem Revenue Projections. There was a significant change to General Cap Rate for Tax Cap Factors, the Moving Average Growth Rate for CCSD was 4.6 percent in FY 2020 and increased to 6.7 percent for FY 2021.



REVENUE: STATE PROJECTIONS AND ASSUMPTIONS

Distributive School AccountFinal Budget FY 2021 = $ 806,072,000Tentative Budget FY 2021 = $ 723,935,000

Additional Revenue = $ 82,127,000

Governmental Services TaxFinal Budget FY 2021 = $ 74,194,000 Tentative Budget FY 2021 = $ 82,821,000

Less Revenue = ($ 8,627,000)

FY 2021 FB based on Nevada Department of Taxation’s FY 2021 Final Local Government Revenue Projection and applying a 10 percent reduction due to FY 2021 GST projection being issued prior to the COVID-19 state of emergency. The 10 percent reduction from the Nevada Department of Taxation’s FY 2021 GST projection aligns CCSD with the same impact experienced during the Great Recession.

DSA funding is based on General Fund DSA changing, one-third of the $19.1 million property tax increase will decrease DSA by $6.3 million, COVID-19 budget reduction of $41.9 million (72 percent of $58.2 million), and LSST will decrease by $130.3 million, which is an increase to DSA. Due to net adjustments, the General Fund DSA revenue decreased by $82.1 million. Special Education Fund DSA is projected to remain the same at $140.2 million.

(CONTINUED)



WHERE THE MONEY IS SPENT

Other 13%*

Salaries and Benefits87%*

*General Operating Fund

Full-Time Equivalents (FTEs)

($ IN MILLIONS)

School Based -Strategic 16,740 64.0% 1,480.7 63.7%School Based 5,410 20.7% 468.3 20.1%Transportation 1,630 6.2% 119.8 5.2%Central Office 2,364 9.1% 256.9 11.0%Total 26,144 100% 2,325.7 100%

($ IN MILLIONS)

Textbooks/Supplies $ 150.8Fuel/Vehicle/Buses 60.8Electricity/Gas/Water/Utility 47.7Professional Services 22.1Technology 19.5Property/Liability Insurance 17.8Repairs/Maintenance 11.0Printing 2.3Postage 1.5



Where Special Education Fund Money is Spent

FTEs = Full-Time Equivalents(includes all employee groups)

Department FTEs $ (In Millions)

Legal 1.0 $ 0.2

Student Record 10.0 0.6

Student Services Division 381.8 49.7

Special Education - Licensed Positions 3,575.3 317.0

Special Education - Support Positions 1,260.7 80.9

Transportation 930.5 75.3

Grand Total 6,159.3 $ 523.7



FINAL BUDGET COMPARISON2019 Amended Final Budget

2020 Amended Final Budget Change

2021 Final Budget Change

Beginning Fund Balance $ 66.8 $ 170.9 104.1$ $ 240.4 69.5$ Total Revenues 2,344.4 2,443.3 98.9 2,445.1 1.8Total Resources 2,411.2 2,614.2 203.0 2,685.5 71.3

Total Salaries and Benefits 2,098.4 2,233.8 135.4 2,325.7 91.9Total Services 98.8 116.4 17.6 106.7 (9.7)Total Supplies 158.2 163.6 5.4 176.1 12.5Total Property 42.8 38.1 (4.7) 46.5 8.4Total Other 4.5 4.2 (0.3) 4.2 0.0Total Expenditures 2,402.7 2,556.1 153.4 2,659.2 103.1Other Financing Sources 37.3 37.0 (0.3) 35.0 (2.0)

Total Fund Balance Details $ 45.8 $ 95.1 49.3$ $ 61.3 (33.8)$ Indirect Cost Fund and Donations 0.8 2.3 2.3 Nonspendable (Inventory) 4.0 4.0 4.0 Potential shortfall 39.9 Unassigned 41.0 48.9 55.0

Unassigned at 1.75% Unassigned at 2.00% Unassigned at 2.25%

Total 45.8$ 95.1$ 61.3$ Deficit ‐$ ‐$ ‐$

(IN MILLIONS)



FUND BALANCE COMPARISON

Beginning Bal. Ending Bal. Beginning Bal. Ending Bal. Beginning Bal. Ending Bal.

Restricted:Nonspendable ‐ Inventory $ 3.3 $ 4.0 $ 4.0 $ 4.0 0.7$ $ ‐ Donations 0.4 0.3 0.3 0.3 (0.1) ‐ School Technology 0.5 ‐ ‐ ‐ (0.5) ‐ Buses 0.2 ‐ 10.1 ‐ 9.9 ‐ School Carryover (Service Level Agreements) 7.1 ‐ 6.0 ‐ (1.1) ‐ School Carryover (Supplies) 26.4 ‐ 57.0 ‐ 30.6 ‐ School Carryover (Net Vacancy) 34.4 ‐ 45.0 ‐ 10.6 ‐ School‐Based Project Carryover 7.5 ‐ 9.0 ‐ 1.5 ‐

Unrestricted:Assigned/Indirect Costs 49.9 41.9 60.4 2.0 10.5 (39.9)Unassigned Fund Balance 41.2 48.9 48.6 55.0 7.4 6.1

Total $ 170.9 $ 95.1 $ 240.4 $ 61.3 69.5$ (33.8)$

2021 Final Budget

2020 Amended Final Budget Change

Bal. = Balance

(in millions)



UNASSIGNED ENDING FUND BALANCE

$0

$10

$20

$30

$40

$50

$60

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Unassigned Fund Balance

1% 1% 1% 1%

1.75%

0.30%

0.81%

2%

2.25%

1.5%

($ IN MILLIONS)

Budgeted

• Regulation 3110, requires the District to have a 2 percent unassigned ending fund balance.

1.75%

Estimated

1.25%



Bargaining Group Status FY 2020 FY 2021Clark County Education Association CCEA(Teachers)

Complete CBA reached through FY 2021.

• Salary table increased by 3 percent• One step and longevity movement• Increased health insurance

contribution of 4 percent• Professional growth system

• One step and longevity movement

• Increased health insurance contribution of 4 percent

• Professional growth system

Education SupportEmployees AssociationESEA(Support Professionals)



contribution of 4 percent



Clark County Association of School Administrators andProfessional-technicalEmployeesCCASAPE (Administrators)






Police Officers Association of the Clark County SchoolDistrictPOA


• Step L and Step M added to the salary table

• Salary table increased by 3 percent• One step and longevity movement• Differential pay of 6.9 percent • Increased health insurance



• Differential pay of 6.9 percent • Increased health insurance


Police Administrators AssociationPAA


• Salary table increased by 3 percent• Step and longevity movement• Increased health insurance


• Step and longevity movement• Increased health insurance


EMPLOYEE CONTRACTS STATUS2020-2021 FINAL BUDGET


CLOSING COMMENTS andQUESTIONS



2020-2021 final budget · 2020. 8. 25. · final budget (fb) may 18, 2020 strategic budget...

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