Financial Update and Budget Insights for the 2014-15 Fiscal Year
Explore key financial data and budget assumptions for the 2014-15 period, including revenue projections, expenditure assumptions, and student enrollment trends. Gain valuable insights into the financial landscape of the organization.
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Presentation Transcript
Update on 2013-14 Finances & 2014-2015 Budget Process March 17, 2014
2014-15 BUDGET ASSUMPTIONS 7.0% Assessed Value Growth Enrollment Growth of 1,460 Students - 2.1% TRS Supplement (one-time) $4.6M ONGOING REVENUE ASSUMPTIONS 7.0% Assessed Value Growth Enrollment - PASA most likely estimate (1.8 to 2.0%) 2.0% to 3.0% Growth for Other Income No new State revenue 2 Source: FBISD Finance
Annual Growth/(Decline) Net Assessed Property Value 1994 - 2014 3 Source: FBISD Finance
Average Student Enrollment 75,000 73,000 72,317 70,857 71,000 69,588 69,06668,71068,964 69,000 68,507 67,780 66,792 67,000 65,927 65,000 62,657 63,000 61,011 61,000 59,217 59,000 57,000 55,000 2003 2005 2007 2009 2011 2013 2015E 4 Source: FBISD Finance & District Demographer
Average Student Enrollment 80,000 76,482 75,066 75,000 73,708 72,317 70,857 69,588 70,000 69,066 68,964 68,710 68,507 65,000 60,000 55,000 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 5 Source: FBISD Finance & District Demographer
Revenue by Source Preliminary 2013-14 2014-15 2015-16 2016-17 2017-18 ($M's) Local State Federal Total Increase $ Increase % Projection 285.3 $ 244.9 $ $ 536.5 $ 49.6 $ 10.2% Projection 303.3 $ 250.2 $ $ 559.9 $ 23.4 $ 4.4% Projection 323.0 $ 238.3 $ $ 567.8 $ $ 1.4% Projection 344.2 $ 228.0 $ $ 578.9 $ 11.1 $ 2.0% Projection 366.9 $ 216.7 $ $ 590.4 $ 11.5 $ 2.0% 6.3 6.4 6.5 6.6 6.8 7.9 6 Source: FBISD Finance
2014-15 EXPENDITURE ASSUMPTIONS 73 Teachers for Enrollment Growth - $4.2M New TRS Supplement (ongoing) - $5.0M 3% Increase in Non-Staff Expenses - $2.0M No Other Investments Shown at This Time ONGOING EXPENDITURE ASSUMPTIONS 2% Increase in Payroll (combination new teachers and salary increases) 2% Increase in Non-Staff Expenses Administration will Manage with Goal of Balanced Budgets 7 Source: FBISD Finance
Expenditures by Object Code Preliminary 2013-14 2014-15 2015-16 2016-17 2017-18 ($M's) Payroll Costs (61XX) Prof. & Cntr. Serv.(62XX) Supp. & Mat. (63XX) Other Oper. Costs (64XX) Capital Outlay (66XX) Operating Expenditures Projection 427.7 $ 18.7 35.8 10.3 497.5 $ $ 10.2 $ $ 507.7 $ 37.2 $ 7.9% Projection 439.1 $ 19.2 36.7 10.6 507.9 $ $ $ $ 507.9 $ $ 0.1% Projection 447.9 $ 19.6 37.4 10.8 518.1 $ $ $ $ 518.1 $ 10.2 $ 2.0% Projection 456.8 $ 20.0 38.2 11.0 528.5 $ $ $ $ 528.5 $ 10.4 $ 2.0% Projection 466.0 $ 20.4 39.0 11.2 539.0 $ $ $ $ 539.0 $ 10.6 $ 2.0% 5.1 2.4 2.4 2.5 2.5 - - - - - - - - - - - - - Other Uses - Total Expenditures Increase $ Increase % 0.3 8 Source: FBISD Finance
Funds Available Preliminary 2017-18 2013-14 2014-15 2015-16 2016-17 ($M's) Projection 536.5 $ 49.6 $ 10.2% Projection 559.9 $ 23.4 $ 4.4% Projection 567.5 $ $ 1.4% Projection 578.4 $ 10.9 $ 1.9% Projection 589.6 $ 11.3 $ 1.9% Revenue Increase $ Increase % 7.6 Expenditures Increase $ Increase % 507.7 $ 37.2 $ 7.9% 507.9 $ $ 0.1% 518.1 $ 10.2 $ 2.0% 528.5 $ 10.4 $ 2.0% 539.0 $ 10.6 $ 2.0% 0.3 Surplus $ 28.8 $ 51.9 $ 49.4 $ 49.9 $ 50.6 9 Source: FBISD Finance
State Peers Cypress-Fairbanks Northside North East Katy Plano Conroe Lewisville Klein Round Rock State Peers Parameters: 2013 Enrollment = 45,000 - 109,000 EDS% = 27.5% - 53.5% Fort Bend ISD 2013: Enrollment = 69,123 EDS% = 38.6% EDS = Economically Disadvantaged Students 10
FBISD Teacher Turnover 18.0 17.0 17.0 16.0 16.0 15.4 15.3 14.7 15.0 14.0 13.7 14.0 13.0 12.6 12.0 11.3 10.8 11.0 10.0 9.0 8.0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Student/Teacher Source: FBISD Finance 11
Teacher Turnover 2013 State Peers 14.0 13.5 13.5 13.2 13.0 12.5 12.6 12.5 12.1 12.0 11.9 12.0 11.5 11.1 11.1 10.8 11.0 10.5 10.0 Source: FBISD Finance 12
FBISD Teacher Experience Beginning, 3.8% Over 20 Years Experience, 15.8% 1-5 Years Experience, 23.8% 11-20 Years Experience, 29.2% 6-10 Years Experience, 27.4% 13 Source: FBISD Finance
FBISD Teacher Turnover 21 to 25 years 3% 25+ years 4% Teacher Turnover 16 to 20 years 4% 11 to 15 (years) 12% 0 to 5 years 52% 6 to 10 years 25% 14 Source: FBISD Finance
2013-2014 Teacher Pay 64,000 62,000 60,000 58,000 Katy ISD 56,000 Lamar CISD 54,000 Cy-fair ISD 52,000 Fort Bend ISD 50,000 48,000 46,000 0 3 6 9 12 15 18 21 24 15 Source: FBISD Finance & District Websites
2013-14 Compensation Issues Low Teacher Pay Compared to Peers High Teacher Turnover Compared to Peers Equity Issues Not Addressed By TASB Study Stipend Recommendations Not Implemented 16 Source: FBISD Finance
2014-15 Proposed Teacher Pay Scale & General Increase $50,000 Starting Pay Percentage Increase Ranges from 4.0% to 8.6% (5.8% avg.) Salary Increase Ranges from $2,214 to $4,147 ($3,018 avg.) Teacher Salary Leader through Year 14 on Scale Proposed pay increase of 4% of midpoint for non-teaching employees Cost of $14.1M for Teachers & $5.4M for Others = $19.5M 17 Source: FBISD Finance
Proposed 2014-15 FBISD Teacher Pay 64,000 62,000 60,000 58,000 56,000 FBISD 2014-15 54,000 52,000 FBISD 2013-14 50,000 48,000 46,000 0 3 6 9 12 15 18 21 24 18 Source: FBISD Finance & District Websites
2014-2015 Teacher Pay Scenarios 64,000 Katy +3% Lamar +3% Cy-Fair also at $50K +$2K on scale (4.7%) 62,000 60,000 58,000 Katy ISD 56,000 Lamar CISD 54,000 Cy-fair ISD 52,000 Fort Bend ISD 50,000 48,000 46,000 0 3 6 9 12 15 18 21 24 19 Source: FBISD Finance & District Websites
2014-2015 Teacher Pay Scenarios 64,000 Katy +4% Lamar +4% Cy-Fair also at $50K +$2K on scale (4.7%) 62,000 60,000 58,000 Katy ISD 56,000 Lamar CISD 54,000 Cy-fair ISD 52,000 Fort Bend ISD 50,000 48,000 46,000 0 3 6 9 12 15 18 21 24 20 Source: FBISD Finance & District Websites
2014-15 Compensation Approve proposed pay plan by April 7th Address select compensation issues identified by TASB Consider signing bonuses for campus professionals and hard to fill positions 21 Source: FBISD Finance
2014-15 Budget Committees Top Priorities Math Specialists at All Campuses Salary Increase (including stipends, equity adjustments) Testing Coordinators/Facilitators Tech Support at All Campuses (Instructional & Troubleshoot) Dedicated Instructional Coaches at All Campuses Special Education Support (ARD Facilitators campus based) Smaller Classes at All Levels Updated Technology Hardware (all kinds) & support Library Funding (Aides & Books) Incentives for Working in Low Performing Schools Source: FBISD Finance 22
2014-15 Budget Calendar Key Upcoming Dates March 31 Board Budget Workshop Staffing & Compensation Recommendation April 7 Special Called Board Meeting Action on Staffing & Compensation Recommendation 23 Source: FBISD Finance
Fort Bend Independent School District
