white pine county school district
DESCRIPTION
White Pine County School District. Budget Discussion FY2014 March 5, 2013. Goal of Today’s Presentation. Provide a preliminary and broad overview Provide timeline for budget and staffing decisions Provide information about state, federal and local revenue - PowerPoint PPT PresentationTRANSCRIPT
BUDGET DISCUSSIONFY2014
MARCH 5, 2013
White Pine County School District
Goal of Today’s Presentation
Provide a preliminary and broad overviewProvide timeline for budget and staffing decisionsProvide information about state, federal and local
revenueProvide information about WPCSD General Fund
expenditure assumptions and informationProvide information about WPCSD fund balancesFactors that influence expendituresConclusion
Budget Dates & Information
2/15 Department of Taxation issues preliminary revenue projections 3/15 Dept. of Taxation provides final revenue projections 3/25 Dept. of Taxation provides final abated revenue projections for property taxes 4/15 File Tentative Budget (NRS 354.596) 4/25 Final estimate of net proceeds of minerals provided to Dept. of Education 5/1 District’s must notify teachers of employment (NRS 391.3196) 5/15 Mandatory Tentative Budget Public Hearing (3rd Wednesday in May)
(NRS 354.596) 5/31 Department of Education notifies school district of per pupil basic
support based on updated revenue from Taxation. 6/2 End of regular Legislative Session 6/8 Adopt Final Budget (NRS 354.598) 8/1 School districts notified of final adjustment to projected minimum textbook
expenditure requirements based on projected enrollment (NRS 387.206(2)) 8/25 Final adjustments incorporated into prior year-end DSA adjustments 9/17 Official Enrollment for funding purposes (NRS 387.1233 – last day of
the first school month) 10/31 Audit Report is Final – prior year fund balance is official (NRS 354.624(2)) 1/1 School districts are required to amend their “final budget” on or before
1/1 (NRS 354.598005(9)
Sources of Funding
Federal Sources Primarily Grants or restricted funds Secure Rural Schools (unrestricted) not included in FY2014
State Sources Categorical funding (restricted) Special appropriations or grants (restricted) General Fund (unrestricted)
Local Sources General Fund Taxes: Property taxes, sales taxes, govt services tax (aka motor
vehicle registration) Debt Services Fund: Property taxes, interest, bond & debt proceeds Capital Funds: Interest earnings, sales taxes Other (indirect costs, tuition, etc)
Outside Allocations Private grants, donations, scholarships
Fund Balance Not considered revenue and should not be used to fund ongoing expenditures.
FY2013 General Fund Budget(aka operating fund)
Inc/(Dec) Inc/-Dec
Description Budget Projected $ Diff % Diff
Revenue 11,614,192 12,591,502 977,310 8.41%
Expenditures (Excluding Fund Balances) 13,301,460 12,825,786 (475,674) -3.58%
Operating Deficit (1,687,268) (234,284) 1,452,984 -86.11%
Unrestricted Fund Balance (audited) 2,181,702 2,181,702 - 0.00%
Estimated Ending Fund Balance FY2013 494,434 1,947,418 1,452,984 293.87%
Projected revenue may decrease after Nevada Department of Education adjusts state revenue (or DSA) for actual final revenue.
FY2014 Current Estimate
Description Preliminary
Revenue 12,393,520
Expenditures (Excluding Fund Balances) 13,195,980
Operating Deficit (802,460)
Unrestricted Fund Balance (Estimated) 1,947,418
Estimated Ending Fund Balance FY2014 1,144,958
Projected revenue may decrease after Nevada Department of Education adjusts state revenue (or DSA) for actual final revenue.
General Fund Revenue Projections
WPCSD uses projections provided by the Nevada Department of Taxation and Department of Education 98% of Total GF Revenue
WPCSD does not alter or change these projections
Projections for miscellaneous and federal revenue provided by the District
White Pine County School District P. J ohnson
REVENUE REPORT - FY2014 3/5/2013 11:34
Estimat as of 3/5/2013ENROLLMENT Weighted Total Description
1 FY2009 Weighted Enrollment 1385.4 FY2011
2 FY2011 Weighted Enrollment 1353.2 FY2012
3 FY2012 Weighted Enrollment 1382.6 FY2013
4 TOTAL ENROLLMENT (Add lines 1 through 6) 1382.6 1196.6 FY2014
5
6 BASIC SUPPORT PER - FY2013 (Estimate) $6,648 Provided by DOE
7 TOTAL BASIC SUPPORT (line 8 x Line 10) 9,191,525
8 ASSESSED VALUATION
9 REAL & UNSECURED PROPERTY $389,478,251 Provided by DOE & DOT
10 NET PROCEEDS OF MINES $219,413,553 Provided by DOE & DOT
11 TOTAL ASSESSED VALUATION (line 9 + line 10) $608,891,804 Provided by DOE & DOT
12 Charter School Enrollment (46+140=186) (483,264) Est. by WPCSD. Actual by DOE.
13 DSA Adjustment (1/3 * .0075 * Line 11) (1,522,230) Calc per NRS 387.1235
14 LSST Adjustment (Line 21) (3,302,455) Calc per NRS 387.1235
1516 STATE APPORTIONMENT (subtract lines 12 - 14 from line 7) $3,883,577 0.42 % of Basic Support
17
1819 LOCAL REVENUES20 AD VALOREM (excluding net proceeds) $2,921,087 Provided by DOE & DOT
21 LSST (2.25% or 2.6%) $3,302,455 Provided by DOE & DOT
22 GOVERNMENTAL SERVICES (Department of Taxation) $547,800 Provided by DOE & DOT
23 TUITION (NVHS) $024 TUITION (OUT-OF-STATE) $18,000 Provided by District
25 NET PROCEEDS (Estimated) $1,645,602 Provided by DOE & DOT
26 Deferred Net Proceeds $027 OTHER LOCAL (Indirect Costs) $75,000 Provided by District
2829 TOTAL LOCAL REVENUES (add lines 19 through 27) $8,509,944303940 FEDERAL REVENUE41 FOREST & WILDLIFE $042 Secure Rural Schools $0 Funding has not been rauthorized
43 as of 4/2/2012
44 TOTAL FEDERAL REVENUE (add lines 41 & 42) $04546 TOTAL GENERAL FUND REVENUE (Add lines 15, 29, 44) -4.6152% $12,393,5204748 REVENUE FOR FY2013 (Projected) -1.5975% $12,591,502 ($197,982)
49 EXPENDITURES FOR FY2013 (Projected) -4.8385% $12,993,186 ($599,666)
50
Note: State funding may not be available until after the final budget is developed.
Charter Schools
NRS 387.124 Apportionments to school districts, charter schools.... 2. Except as otherwise provided in subsection 3 and NRS 387.1244, the
apportionment to a charter school,..., is equal to the sum of the basic support per pupil in the county in which the pupil resides plus the amount of local funds available per pupil pursuant to NRS 387.1235.... (a.k.a. outside revenue)
WP Per Pupil Amount $6,648 2/3 of the property taxes Government Services Tax
Charter School Local Revenue - Outside Revenue2/3 Property Taxes $1,947,391.262/3 Net Proceeds $1,097,067.77Govt. Services Tax $547,800
Total Outside Revenue $3,592,259
Divided by Student Enrollment 1382.6
Charter School Per Pupil Amount $2,598.19
Estimated Charter School Enrollment
Beacon Academy 5Nevada Connections Academy 13Nevada Virtual Academy 4Renaissance Charter School 24Learning Bridge 140Total Charter School Enrollment 186
General Fund Worksheet
Sample of GF revenue as it appears in our accounting system
Final FY2013 Projected Projected
Account Number Description Budget FY2013 FY2014
SOURCES
100 000 1110 000 0000 000 00000 00 000 Ad Valorem Taxes (1,932,735.00)
(1,932,735.00)
(2,190,815.00)
100 000 1111 000 0000 000 00000 00 000 Net Proceeds from Minerals Adjustment (781,978.00) (1,485,758.00)
(1,645,602.00)
100 000 1112 000 0000 000 00000 00 000 Ad Valorem-Gas and Oil Leases (10,000.00) (10,000.00) - 100 000 1113 000 0000 000 00000 00 000 Ad Valorem-Personal Property (644,244.00) (644,244.00) (730,272.00)
100 000 1120 000 0000 000 00000 00 000 LSST (Local School Support Tax) (3,225,955.00)
(3,225,955.00)
(3,302,455.00)
100 000 1192 000 0000 000 00000 00 000 Basic Gen Govn't Services Tax (Motor Veh Priv Tx) (546,255.00) (546,255.00) (547,800.00)100 000 1310 000 0000 000 00000 00 000 Tuition From Individuals - - - 100 000 1331 000 0000 000 00000 00 000 Tuition From School Districts Outside the State (18,000.00) (18,000.00) (18,000.00)100 000 1800 000 0000 000 00000 00 000 UNDEFINED - - - 100 000 1990 000 0000 000 00000 00 000 Miscellaneous (75,000.00) (75,000.00) (75,000.00)
100 000 3110 000 0000 000 00000 00 000 DSA Basic Support per Student-Nevada Plan (4,308,756.00)
(4,583,555.00)
(3,883,577.00)
100 000 4200 000 0000 000 00000 00 000 Unrestricted Grants-in-Aid From the Fed Thru State (70,500.00) (70,000.00) - 100 000 4703 000 0000 000 00000 00 000 E-Rate Funds (769.00) - - - - - - - -
- - -
TOTAL SOURCES (11,614,192.00)
(12,591,502.00)
(12,393,521.00)
General Fund Operations
FY2013 FY2013 FY2014Description Budget Projected Estimate
Revenue 11,614,192$ 12,591,502$ 12,393,521$
General Fund Expenditures 13,301,460$ 12,825,786$ 13,195,980$ (Excluding fund balance exp)
Operating Surplus/(Deficit) (1,687,268)$ (234,284)$ (802,459)$
Opening Fund Balance 2,181,702$ 2,181,702$ 1,947,418$
Ending Fund Balance (Est) 494,434$ 1,947,418$ 1,144,959$
The ending fund balance can temporarily cover an operating deficit but is not a long-term solution. At some point the District will either have to realize additional revenue to cover the operating deficit or reduce expenditures to balance.
Preliminary Inflation Factors
Group Insurance: 10% (Note: Current Loss Ratio 95%, Admin Fee 15%, inflation 15% = 125%)
Other Insurance: 10%Wages: 0%PERS: 2%Worker’s Comp: 2% (meeting 3/5/2013 rate increase of 5% expected)
Utilities: 3% - 5%Gas/Fuel: 10%Remaining line items will be based on the
FY2013 budget or FY2013 projection.
FY2012 Audited Fund Balance
Fund balances: General Fund Special
Education
Federal Special
Revenue Fund Debt Service
Fund
Other Governmental
Funds
Total Governmental
Funds Nonspendable: Prepaids 6,414$ 4,854$ 100$ -$ -$ 11,368$ Restricted for: Debt service 1,819,643$ 1,819,643$ Capital projects 793,680$ 793,680$ Stabilization 796,814$ 796,814$ Other purposes 599$ 136,302$ 136,901$ Assigned to: -$ Other post employment benefits (OPEB) 152,400$ 152,400$ Unassigned 2,181,702$ (4,854)$ (100)$ 2,176,748$ Total fund balances 3,137,330$ -$ 599$ 1,819,643$ 929,982$ 5,887,554$ Refer to page 48 of WPCSD Annual Report - FY2012
Note 1: Reserve for OPEB should have been $816,949
Note 2: Stabilization Fund is restricted by NRS 354.6115
General Fund Ending Balances
FY2012 Budget & Fund Balance
Governor took hardline stance on no new taxesTaxes were expected to sunsetNet proceeds of minerals to revert to prior
collection method that would have resulted in $0.00 NPM for FY2012.
Operating Deficit estimated at $1.9 millionFY2012 expenditures reduced to hedge for
FY2012-13 Nevada fiscal cliffBudget adopted before June 8, 2011Supreme court ruling May 26, 2011State education budget approved after final
budget adopted.
Future items that influence budget
Actual inflationState Legislative Decisions
Can affect revenues and expenditure
Federal Legislative Decisions Sequester
Student enrollment General Fund, Special Education, English Language Learners, Charter schools
Audit Report Adjusting entries, fund balance, actual revenue, actual expenditures
Weather Labor, utilities, fuel
Local Economic Development Mining activity, net proceeds of minerals…
Other Factors
Conclusion
The District has sufficient fund reserves to operate without cutting expenditures over the next biennium (FY2014 & 15) providing State revenue does not decrease.
The District should avoid using its fund balance to finance ongoing expenditures since the fund balance is a finite resource.
Budgets by definition are estimates of costs associated with future purchases and economic events. The assumptions and information contained within this presentation are likely to change and may change
significantly. The information contained within should be used for discussion only as a means to frame future budget discussions and decisions.