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 - General
21 - Activity
22 - Management
23 - Physical Plant and
Equipment Levy
33 - LOSST or SAVE
40 - Debt Service
61 - School Nutrition
81 - 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
2012-13

Actual
2013-14

Estimated
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

Certified Budget
13-14
Actual

13-14
Budget

14-15
Estimated

Instruction

3,921,133 $3,950,000

3,838,382

Support Services

1,822,444 $1,852,500

1,956,500

14-15
Budget
$4,490,60
1
$2,057,60
0

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

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

Enrollment
Incentives (Sharing & TLCs)
Special Programs
(Instructional Support & Pre-K)

Miscellaneous Income
(Federal, State & Local)

Expenses

Unspent Budget Worksheet

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

Enrollment Trend

Enrollment Projection
RRMR Enrollment Projection

Students Attending - Average Daily Membership

Year

10

11

12

Total Diff.

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

Open Enrollment & Tuition In/Out

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?

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?

Instructional Supplies
Gas
Diesel
Natural Gas

Tuition-out
Open Enrollment
Water/Sewer
Telephone
Postage

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

COMMUNITY COLLEGE TUITION

$23,627.41

$21,630.42

CUSTODIAL SUPPLIES

$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

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

Balanced Spending Authority

Unspent Balance vs Cash

Property Tax History

Property Tax Comparison

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

Beg. Bal.

Actual
2012-13
($77,493)

Actual
2013-14
($69,680)

Estimated
2014-15
($49,683)

Revenue

$276,092

$277,803

$293,420

Expenditures

$268,279

$257,806

$265,151

Profit/Loss

$7,813

$19,997

$28,269

End. Bal.

($69,680)

($49,683)

($21,414)

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

ACTIVITY FUND
Actual
2012-13

Actual
2013-14

Estimated
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
2012-13

Actual
2013-14

Estimated
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
2012-13

Actual
2013-14

Estimated
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
2012-13

Actual
2013-14

Estimated
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?