FALL RIVER SCHOOL DISTRICT 2019 Annual Meeting Budget Details
Explore the budget details of FALL RIVER SCHOOL DISTRICT's 2019 annual meeting, including revenue and expenditure figures for various funds, with a focus on how budget amounts are determined for the General Fund. Discover insights on fund accounting and the Budget Adoption for 2019-2020, along with available documents and key financial information.
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Presentation Transcript
FALL RIVER SCHOOL DISTRICT 2019 ANNUAL MEETING Tuesday, October 22, 2019 7:00 p.m.
Fund Accounting Each 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 (Revenues) and money spent (Expenditures).
BUDGET ADOPTION 2019-2020 The complete Budget Adoption 2019-2020 document is available as a handout at tonight s meeting. Budget Adoption amounts have been determined using Third Friday 2019 Student Count numbers, October 15, 2019 Certified State Equalization Aid and October 2019 State Equalized Property Values.
BUDGET ADOPTION 2019-2020 All Funds - Revenues General Fund 10 Special Projects Funds 20 Debt Service Funds 30 Capital Projects Fund 40 Food Service Fund 50 Community Service Fund 80 $6,334,116 $ 833,146 $ 680,977 $ 5,000 $ 214,042 $ 88,750 Total 2019-2020 All Funds Revenues $8,156,031
BUDGET ADOPTION 2019-2020 All Funds - Expenditures General Fund 10 Special Projects Funds 20 Debt Service Funds 30 Capital Projects Fund 40 Food Service Fund 50 Community Service Fund 80 $6,533,328 $ 833,146 $ 538,018 $3,350,439 $ 214,042 $ 78,274 Total 2019-2020 All Funds Expenditures $11,547,247
How are budget amounts determined? General Fund 10 is largely determined and impacted by numbers as you will see in the following slides. General Fund 10 is the main operating budget along with Special Education Fund 27. The net amount of Fund 27 affects Fund 10. Debt Service Fund 39 budget is based upon debt service schedules. Capital Projects Fund 49 is based upon remaining funds. Food Service Fund 50 and Community Service Fund 80 are based upon historical activity and upcoming expectations of change.
RESIDENT STUDENTS FTE s (Full-Time Equivalents) 2017 523 508 505 2018 2019
The Fall River School District reported 497 students during the 3rdFriday Sept 2019 count. Our 3 year average is 512 (based on 2017 523, 2018 508 and 2019 505) Prior 3 year average is 516 (based on 2016 - 518, 2017 - 523 and 2018 - 508) Figures presented are resident students as of October 15, 2019.
2019-2020 REVENUE CAP LIMIT $9,982.31 512 BASE REVENUE PER MEMBER THREE YEAR MEMBERSHIP AVERAGE REVENUE CAP LIMIT $5,110,943* *PRIOR TO EXEMPTIONS $39,929 PLUS DECLINING ENROLLMENT 4 x $9,982.31 - FOR 2019-2020 ONLY _____________________________________________ TOTAL 2019-2020 REVENUE LIMIT $5,150,872
TWO YEAR COMPARISON 2019-2020 REVENUE CAP LIMIT Removes Prior Year Exemptions of $190,069 and Adds Current Year Exemption of $39,929 $5,150,872 2018-2019 REVENUE CAP LIMIT $5,260,449 Decrease of $109,577 or -2.1%
GENERAL FUND 10 TOTAL REVENUE Total General Fund 10 Revenue $6,334,116 Less Revenue Limit Allowed $5,150,872 General Fund 10 Revenues from Other Sources $1,183,244
REVENUE FROM OTHER SOURCES Local Sources such as school activities admissions, student fees, gifts, rentals, interest income State Transportation Aid, Library Aid and grants Federal Title I-A, Title II-A, Title IV-A, REAP, Medicaid Other & Miscellaneous (Prior Year Refunds, E-Rate, etc.) Open Enrollment In State Per Pupil Aid $471,595 $379,904 60 Students In 512 x $742
2019-2020 PROPOSED TAX LEVY FUND 10 LEVY FUND 39 LEVY FUND 80 LEVY _____________________________________________ TOTAL LEVY $ 1,791,840 $ 680,877 $ 18,000 $ 2,490,717 Mill Rate $ 8.69 per $1,000 of equalized value Increase of $0.09 per 1,000
Tax Levy, Mill Rate, Equalized Values Historical Data Year Tax Levy Mill Rate Equalized Value 2, 208,302 2014 9.36 235,875,214 243,273,507 2015 2,311,931 9.50 2016 2,513,429 10.07 249,706,852 2017 2,539,039 9.93 257,134,676 2018 2,288,084 8.60 265,997,628 2019 2,490,717 8.69 286,737,826
Comparative Local District Mill Rates 2018-2019 School District Mill Rate District Head Count, Resident Cambria-Friesland 12.68 390 Dodgeland 11.15 776 Horicon 10.98 807 Johnson Creek 12.25 750 Markesan 9.60 835 Oakfield 10.22 489 Pardeeville 10.33 856 Randolph 12.50 521 Rio 11.52 433 Fall River 8.60 517 STATE AVERAGE 9.46 (K-12 Districts)
In Conclusion A motion will be made to adopt a Tax Levy as presented to you, the electorate
Fall River School District Thank you for attending!
