Rudd-Rockford-Marble Rock CSD

ANNUAL FINANCIAL REPORT

School Funds and Uses
2013-2014 Review
2014-2015 Budget
General Fund Financial Position
School Finance Basics Video (ISFIS)
http://www.youtube.com/watch?v=ceHRQj10tO8&feature=youtu.be

District Funds
10 21 22 23 33 40 61 81 -

General
Activity
Management
Physical Plant and
Equipment Levy
LOSST or SAVE
Debt Service
School Nutrition
Scholarship

GENERAL FUND
Revenue:

Foundation Formula
Property Tax
State Aid
Instructional Support *Expires FY 2020
Federal, State & Local Sources

Expenses: Operating Expenses

Salaries & Benefits
Maintenance
Transportation
Services & Supplies
Equipment

General Fund & Spending Authority

PRIMARY source to operate education program.
The General Fund is restricted by:
1) Spending Authority
(State Foundation Formula)
2) General Fund Balance (Cash)

GENERAL FUND
Actual

Actual

Estimated

2012-13

2013-14

2014-15

Beg. Bal.

$1,012,770 $1,072,153

$863,363

Revenue

$5,188,750 $5,112,894 $5,030,849

Expenditures

$5,129,367 $5,321,684 $5,426,554

End. Bal.

$1,072,153

$863,363

$467,658

Restricted

$107,042

$66,952

$92,645

Unassigned

$965,111

$796,411

$375,013

Financial Solvency Ratio

Assigned + Unassigned General Fund
Balances

Solvency Ratio (IASB) =

General Fund Revenue AEA Flowthrough

RRMR Solvency Ratio
(2013-2014)

$796,410.41
$4,911,928.29

Target Financial Position

5.00 to 10%

Acceptable Solvency Position

0 to 4.99%

Solvency Alert Position

-3.00 to 0.00%

Solvency Threat Position

Below -3.00%

16.21%

Financial Solvency Ratio

RRMR CSD
Solvency Ra4o
25.00%

19.32%

20.00%
17.54%

16.21%

15.57%
15.00%

13.83%

13.19%

12.87%
11.78%

13.72%
12.70%

11.14%

9.32%

10.00%

7.76%

5.00%

0.00%
02-03

03-04

04-05

05-06

06-07

07-08

08-09

09-10

10-11

11-12

12-13

13-14

14-15

Certified Budget
13-14
Actual

13-14
Budget

14-15
Estimated

14-15
Budget

Instruction

3,921,133 $3,950,000

3,838,382 $4,490,601

Support Services

1,822,444 $1,852,500

1,956,500 $2,057,600

Noninstructional
Programs

263,803

$343,500

282,642

$307,500

Other
Expenditures

491,482

$584,658

469,210

$495,896

Checking Acct:
$1,100,000 Beg. Bal.
+ $5,100,000 13-14
$6,200,000
Fund Balance
Cash available to spend.
Still limited by Spending
Authority...having cash in the
bank does not give us the
authority to spend it.
Low on Cash?
Cash Reserve Levy
ISCAP Program
Loan from local bank

Credit Limit:
$1,400,000 Unspent
$5,000,000 13-14
$6,400,000
Spending Authority
Spending authority is a calculation
determined by legislation.
Limits amount we can spend.
The limit set does not mean we
have cash to spend up to that limit.

Factors of Spending Authority

nState Percent of Growth, formerly
Allowable Growth
(Set by State Legislation)

nEnrollment
nIncentives (Sharing & TLCs)
nSpecial Programs
(Instructional Support & Pre-K)

nMiscellaneous Income
(Federal, State & Local)

nExpenses

Unspent Budget Worksheet

Upsent Authorized Budget Worksheet Handout
Line 1: Certified Enrollment x DCPP

Enrollment Trend
RRMR CSD
Enrollment
650.0

600.0

595.6

598.0

# of Students

566.0

550.0

563.6

561.0

536.0
535.0

514.1

Cer2ed Enrollment
Students Served

520.0
500.0

506.1

489.1

484.1

464.2

472.1
473.1

461.2

450.0

463.1
453.4
454.1

450.3

400.0
05-06

06-07

07-08

08-09

09-10

10-11

11-12

12-13

13-14

14-15

Enrollment Projection
RRMR Enrollment Projec4on

Students A@ending - Average Daily Membership

Year

10

11

12

Total

Di.

06-07

42

39

36

36

37

30

36

42

46

49

47

60

48

548

07-08

28

38

41

35

36

32

32

35

42

46

53

52

61

531

-17

08-09

34

27

39

44

37

38

35

37

38

44

48

54

50

525

-6

09-10

30

31

27

39

44

38

37

33

35

42

41

51

54

502

-23

10-11

34

29

29

27

42

42

41

39

33

37

39

41

49

482

-20

11-12

29

25

28

29

26

43

43

41

37

34

36

39

41

451

-31

12-13

34

30

25

31

32

27

41

48

39

36

38

39

40

460

13-14

30

33

27

24

33

34

28

45

46

40

39

37

37

453

-7

14-15

26

29

35

28

25

32

38

32

46

48

43

40

39

461

15-16

18

26

29

35

28

25

32

38

32

46

48

43

40

440

-21

16-17

25

18

26

29

35

28

25

32

38

32

46

48

43

425

-15

17-18

25

25

18

26

29

35

28

25

32

38

32

46

48

407

-18

18-19

25

25

25

18

26

29

35

28

25

32

38

32

46

384

-23

19-20

25

25

25

25

18

26

29

35

28

25

32

38

32

363

-21

20-21

25

25

25

25

25

18

26

29

35

28

25

32

38

356

-7

Enrollment Projection
RRMR CSD
Enrollment Projec4on
(Students AOending-Average Daily Membership)

600

550
525
502

# of Students

500

482

451

460

453

461
440

450

425
407
400

384
363

356
343

350

300
08-09

09-10

10-11

11-12

12-13

13-14

14-15

15-16

16-17

17-18

18-19

19-20

20-21

21-22

Open Enrollment & Tuition In/Out

RRMR CSD
Students In and Out
80

70

60

# of Students

50

40

Students Out
Students In

30

20

10

0
04-05

05-06

06-07

07-08

08-09

09-10

10-11

11-12

12-13

13-14

14-15

Unspent Budget Worksheet

Line 1: Certified Enrollment x DCPP
Line 2: Guaranteed 101% of Previous Year Line 1

Enrollment Trend
Funding Year

12-13

13-14

14-15

15-16

Certified Enrollment

464.2

472.1

453.4

450.3

District Cost Per

Pupil

$6,001

$6,121

$6,366

$6,621

State Percent of Growth

(Allowable Growth)

2.00%

2.00%

4.00%

***4.00%***

Regular Program

$2,785,664

$2,889,724

$2,886,344

$2,981,436

Budget Guarantee
(101%)

$120,485

$0

$32,277

$0

($148,546)

($16,425)

$28,897

$62,815

New Money

Unspent Budget Worksheet

Line 1: Certified Enrollment x DCPP
Line 2: Guaranteed 101% of Previous Year Line 1
Line 3: Supplementary Weighting
Concurrent Classes, Sharing, State At-Risk
Line 4: Special Ed Weighting x DCPP
Line 5-7: Certified Enrollment x SCPP
Line 8-14: AEA Flowthrough (Revenue and Exp)
Line 15: Dropout Prevention Allowable Growth
Line 17: SBRC Open Late Open Enroll
Line 18: Special Ed Deficit Allowable Growth
Line 19: Special Ed Reversion to State

Special Education Enrollment

Funding Year
Level I .89 x DCPP
(.72 plus .17 of GPE = .89)
Level II 1.89 x DCPP
(1.21 plus .68 of GPE = 1.89)
Level III 3.47 x DCPP
(2.74 plus .73 of GPE = 3.47)
Total Student Count
District Cost Per Pupil
(DCPP)
Special Education Funding
Generated from Weighting

11-12

12-13

13-14

14-15

15-16

39

43

44

35

39

10

10.5

18

15

11

58

61

70

53

57

$5,883

$6,001

$6,121

$6,366

*$6,621*

$499,114 $515,383 $617,854 $511,317 $528,290

SPECIAL EDUCATION
Actual
2012-13

Actual
2013-14

Estimated
2014-15

Revenue
$902,250 $1,055,279 $879,289
Expenditures
- $996,935 $1,062,842 $974,041
Difference
($94,685) ($7,563) ($94,752)
Prior Carryover
+ $17,066
$0.00
$0.00
Balance
($77,619) ($7,563) ($94,752)
Maximum Carryover
$39,360
$46,140
$38,062
Reversion to State
Final Balance

$0.00
($77,619)

$0.00
($7,563)

$0.00
($94,752)

Unspent Budget Worksheet

Line 1: Certified Enrollment x DCPP
Line 2: Guaranteed 101% of Previous Year Line 1
Line 3: Supplementary Weighting
Concurrent Classes, Sharing, State At-Risk
Line 4: Special Ed Weighting x DCPP
Line 5-7: Certified Enrollment x SCPP
Line 8-14: AEA Flowthrough (Revenue and Exp)
Line 15: Dropout Prevention Allowable Growth
Line 17: SBRC Open Late Open Enroll
Line 18: Special Ed Deficit Allowable Growth
Line 19: Special Ed Reversion to State
Line 23: Enrollment Audit Adjustment
Line 26: Pre-K Enrollment x 50% x DCPP
Line 27: Instructional Support
Line 29: Miscellaneous Income

What are the sources of funding?

AEA Flowthrough
3.93%
Other State Sources
1.82%

RRMR CSD
2013-2014 General Fund Revenue
Federal Sources
1.25%

2.90%

Statewide Pre-School
1.02%
State Aid (Teacher Qual, Early Int)
6.22%

Property Taxes
38.47%

State Aid
35.30%
Tui2on In/Transporta2on
6.04%
Interest
Local Sources 0.09%
2.98%

Unspent Budget Worksheet

Line 1: Certified Enrollment x DCPP
Line 2: Guaranteed 101% of Previous Year Line 1
Line 3: Supplementary Weighting
Concurrent Classes, Sharing, State At-Risk
Line 4: Special Ed Weighting x DCPP
Line 5-7: Certified Enrollment x SCPP
Line 8-14: AEA Flowthrough (Revenue and Exp)
Line 15: Dropout Prevention Allowable Growth
Line 17: SBRC Open Late Open Enroll
Line 18: Special Ed Deficit Allowable Growth
Line 19: Special Ed Reversion to State
Line 23: Enrollment Audit Adjustment
Line 26: Pre-K Enrollment x 50% x DCPP
Line 27: Instructional Support
Line 29: Miscellaneous Income
Line 33: Expenditures

Where does the money go?

RRMR CSD
2013-2014 General Fund Expenditures

Instructional Supplies
Gas
Diesel
Natural Gas
Supplies
7.88%

Dues & Interest

0.23%
Equipment
0.07%

AEA Flowthrough
3.78%

Purchased Services
10.49%

Tuition-out
Open Enrollment
Water/Sewer
Telephone
Postage

Salaries & Benefits

77.55%

TOP 15 EXPENDITURES
2013-2014

2012-2013

OPEN ENROLLMENT

$193,832.32

$195,348.27

ELECTRICITY

$148,119.04

$127,467.71

SPECIAL ED TUITION

$106,370.80

$112,355.56

DIESEL

$57,769.65

$58,581.54

SPEC ED SERVICES

$25,880.72

$0.00

$23,627.41

$21,630.42

$23,349.39

$27,288.36

NATURAL GAS

$20,404.24

$14,732.86

ELEMENTARY SUPPLIES

$19,186.05

$21,118.49

SECONDARY SUPPLIES

$17,662.67

$16,437.98

TQ CORE CURR PROF DEV

$17,133.00

$5,032.00

WATER/SEWER

$15,952.16

$14,309.69

TRANSPORTATION REPAIR PARTS

$14,397.90

$8,981.78

GASOLINE

$14,387.91

$12,856.02

EQUIPMENT REPAIR

$10,731.11

$8,797.34

COMMUNITY COLLEGE TUITION

CUSTODIAL SUPPLIES

Unspent Budget Worksheet

Line 1: Certified Enrollment x DCPP
Line 2: Guaranteed 101% of Previous Year Line 1
Line 3: Supplementary Weighting
Concurrent Classes, Sharing, State At-Risk
Line 4: Special Ed Weighting x DCPP
Line 5-7: Certified Enrollment x SCPP
Line 8-14: AEA Flowthrough (Revenue and Exp)
Line 15: Dropout Prevention Allowable Growth
Line 17: SBRC Open Late Open Enroll
Line 18: Special Ed Deficit Allowable Growth
Line 19: Special Ed Reversion to State
Line 23: Enrollment Audit Adjustment
Line 26: Pre-K Enrollment x 50% x DCPP
Line 27: Instructional Support
Line 29: Miscellaneous Income
Line 33: Expenditures
Line 34: Unspent Balance

Unspent Balance
RRMR CSD - Unspent Balance
$1,600,000
$1,431,487
$1,371,639

$1,400,000

$1,255,508
$1,200,000

$1,134,680

$1,117,983
$1,003,381
$1,001,945

$1,000,000

$926,214
$849,813

$848,447
$800,000

$736,572 $720,725
$643,726

$631,933

$583,489

$600,000

$400,000

$200,000

$0
00-01

01-02

02-03

03-04

04-05

05-06

06-07

07-08

08-09

09-10

10-11

11-12

12-13

13-14

14-15

Balanced Spending Authority

RRMR CSD
Spending Authority vs Expenditure Comparison
$5,600,000
5,426,554
$5,400,000

$5,200,000
5,141,687

$5,000,000

$4,800,000

Current Year Authority

General Fund Expenditures

$4,600,000

$4,400,000

$4,200,000

$4,000,000
04-05

05-06

06-07

07-08

08-09

09-10

10-11

11-12

12-13

13-14

14-15

Unspent Balance vs Cash

RRMR CSD
Unspent Balance vs Cash Balance
$1,600,000

$1,400,000

$1,200,000

1,134,680

$1,000,000
863,363
$800,000

Unspent Balance

$600,000

$400,000

$200,000

$0
04-05

05-06

06-07

07-08

08-09

09-10

10-11

11-12

12-13

13-14

14-15

General Fund Balance

Property Tax History

RRMR CSD
Tax Rate History
$18.00

$16.00

$ per $1,000 taxable valua4on

$14.00

$12.00

General

$10.00

Debt Service
Management

$8.00

Voted PPEL
Board PPEL

$6.00

$4.00

$2.00

$0.00
04-05

05-06

06-07

07-08

08-09

09-10

10-11

11-12

12-13

13-14

14-15

Property Tax Comparison

FY15 Tax Rates
$18
$16

$ per $1,000 taxable valua4on

$14
$12
$10
$8
$6
$4
$2
$0

Local Districts

ENTERPRISE: SCHOOL NUTRITION

FUND
Revenue:

Lunch, Breakfast, & Milks

Ala Carte
Rebates
Federal & State Reimbursement

Expenses:

Operating Expenses
Salaries & Benefits
Food
Supplies
Maintenance
Equipment

HOT LUNCH FUND

Actual
2012-13

Actual
2013-14

Estimated
2014-15

Beg. Bal.

($77,493)

($69,680)

($49,683)

Revenue

$276,092

$277,803

$273,420

Expenditures

$268,279

$257,806

$273,151

Profit/Loss

$7,813

$19,997

$269

End. Bal.

($69,680)

($49,683)

($49,414)

ACTIVITY FUND
Extra-Curricular &
Student/Staff Accounts
Athletics
Band, Drama, FFA, Student
Council, Yearbook, etc.

ACTIVITY FUND
Actual

Actual

Estimated

2012-13

2013-14

2014-15

Beg. Bal.

$59,879

$49,442

$39,191

Revenue

$220,023

$197,070

$132,400

Expenditures

$230,460

$207,321

$146,760

End. Bal.

$49,442

$39,191

$24,831

MANAGEMENT FUND
Revenue:

Property Tax

Expenses:

Early Retirement Incentives

Property Insurance
Liability Insurance
Auto Insurance
Workmans Compensation
Unemployment

MANAGEMENT FUND
Actual

Actual

Estimated

2012-13

2013-14

2014-15

Beg. Bal.

$220,283

$277,857

$377,412

Revenue

$254,709

$204,490

$156,048

Expenditures

$197,135

$104,935

$101,830

End. Bal.

$277,857

$377,412

$431,630

PHYSICAL PLANT AND EQUIPMENT

LEVY (PPEL)
Revenue:

Property Tax (Voted & Board Approved)

Voted Currently $.67 per $1,000 (Max. $1.34)
*Expires FY 2024

Board Approved Currently $.33 per $1,000

(Max. $0.33)
Expenses:

Improvement of Sites
Equipment & Vehicles
Building Repair & Maintenance
Re-modeling

PHYSICAL PLANT AND EQUIPMENT FUND

Actual

Actual

Estimated

2012-13

2013-14

2014-15

Beg. Bal.

$40,681

$110,784

$172,843

Revenue

$193,416

$223,768

$210,942

Expenditures

$123,313

$161,709

$205,000

End. Bal.

$110,784

$172,843

$178,785

CAPITAL PROJECTS (SAVE)

...formerly referred to as LOSST
Secure an Advanced Vision for
Education (SAVE)
*Sunsets FY2029

Revenue:

State $.01 sales tax on certain goods

& services

Expenses:

Revenue Purpose Statement

Improvement of Sites
Equipment & Vehicles
Building Repair & Maintenance
Re-modeling

SAVE (LOSST) FUND

Actual
2012-13

Actual
2013-14

Estimated
2014-15

Beg. Bal.

$352,421

$461,621

$441,017

Revenue

$396,438

$421,429

$397,040

Expenditures

$287,238

$442,033

$390,339

End. Bal.

$461,621

$441,017

$447,718

Reserve BB/SB
Lights

$40,000

$40,000

$40,000

SCHOLARSHIP TRUST FUND

Trust or Agency Fund
Iowa Code 298A.13:
To account for gifts received for a particular purpose
or to account for money and property received and
administered by the district as trustee or custodian or
in the capacity of an agent.

SCHOLARSHIP TRUST FUND

Actual

Actual

Estimated

2012-13

2013-14

2014-15

Beg. Bal.

$0

$5,402

$6,828

Revenue

$5,402

$4,801

$1,520

Expenditures

$0

$3,375

$3,100

End. Bal.

$5,402

$6,828

$5,248

Questions?