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B udget Training

B udget Training. Basics of School Budgeting Respective roles of the Board, Superintendent and clerk. SB175. Inflation of 0.89% and 2.98% Data for achievement payment $20 per ANB Basic entitlement per school unit increase Address unusual enrollment increases for rural (4%) was 6%

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B udget Training

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  1. Budget Training Basics of School Budgeting Respective roles of the Board, Superintendent and clerk.

  2. SB175 • Inflation of 0.89% and 2.98% • Data for achievement payment $20 per ANB • Basic entitlement per school unit increase • Address unusual enrollment increases for rural (4%) was 6% • Eliminates seat time penalties for fast learners • Authority to increase over BASE general fund levy as long as other taxes are reduced • Statewide tax relief

  3. Acronyms • MCA: Montana Code Annotated • OPI: Office of Public Instruction • PI: Public Instruction • NRD: National Resource Development • NCLB: No Child Left Behind • GTB: Guaranteed Tax Base • OTO: One Time Only (full day kinder, at risk, ARRA) • PIR: Pupil Instruction Related (required/paid for 7) • FTE: Full Time Equivalent (certified Staff) • Administrators based on FTE • ANB: Average Number Belonging • (enrollment x 187/180) funding for PIR days

  4. Basic EntitlementPer ANB Entitlement Funding • Average Number Belonging • Fall Enrollment: 1st Monday in October • Winter Enrollment (SB 175) • Spring Enrollment: February 1st • Includes Digital Academy • Divide by two (three) • and multiply by 180 days plus 7 PIR/180 • 187/180 = (1.03)

  5. ANB Calculation Example • 88 students fall • 90 students spring • (88 + 90)/2 x (1.03) = 91.67 ANB • Elementary Calculation: [$5,075 x Elem ANB]– [0.20 x (Elem ANB/2)x(ELEM ANB – 1] • High School • [$6,497 x HS ANB]– [0.50 x (HS/MS ANB/2)x(HS ANB – 1]

  6. Additional Funding Components20-9-306 • 100% funded by the state in the BASE portion of the general fund budget • Quality Educator Payment – Each District and Special Ed. Coop will receive a $3,042 payment for each FTE licenses educator and for other licensed professionals employed by the District • Indian Ed for All Payment – The greater of $100 for each district or $20.40 per ANB implementing IEFA curriculum • At-Risk Payment - $5 million for 2013-2014. Distributed in the same manner at Title I • Total Data Achievement Payment: SB-175

  7. Mill Calculation • What is a mill? • One-Thousandth (.001) of a dollar • For example: Taxable Valuation = $1,234,267 • Mill Value = $1,234,267 x 0.001 = $1,234.267 per mill • Actual taxable valuation not available at the time the ballot is prepared, estimate • Previous year’s value • Use Preliminary Budget Data Sheet • Discussions with local assessor

  8. Funding General Fund • 20%: Above Base • Voted Local Mills, Tuition, Excess Reserve • 80%: • Local Property Taxes • Guaranteed Tax Base Aid • Non-Levy Revenue (quality educator, at risk, • Direct State Aid: 44.7% Basic and Per ANB Entitlements

  9. Building Blocks of a General Fund Budget

  10. Transfers/Additional Levies • Bus Depreciation: 20-9-201 • Multiply bus cost x 150%, depreciate over 7-8 years, purchase new bus (radios) when budget allows • Activity bus may be purchased out of Bus Depreciation (20-10-147) • Expenditure Line-Item Transfers: • Example: Money left over General Fund? Project of $25,000 spent during year in Building Reserve, may use expenditure line-item transfer from Building Reserve back to General Fund (increases $ in Building Reserve ). • Technology Fund: 20-9-533 • Permanent levy once voted, 20% of 150% of historical cost of current technology • Flex Fund: 20-9-543-544, 20-9-323 • Beginning July 1, 2013 balance may not exceed 150% of District’ maximum General Fund

  11. Fund Balance Re-appropriatedJuly 1 – June 30 • End of fiscal year (June 30) some districts still have cash on hand. • After considering any unpaid obligations, the remainder is referred to as Fund Balance • School districts are allowed to set aside (reserve) some or all of this fund balance in order to continue operation of the school district until funding is received from the state and property taxes • “Fund Balance Re-appropriated” is the difference between the end-of-year fund balance and the amount reserved for operations. • The remaining dollar amount must be used to fund the ensuing year's BASE budget • A district that is eligible for GTB will experience a lower BASE mill levy and a lower GTB payment when fund balance is re-appropriated to fund the BASE budget.

  12. Funds • Non-Budgeted Funds: Any fund for which a budget is not required in order to expend money on deposit in the fund • School Foods, Impact Aid, miscellaneous program, building lease and rental, extracurricular, Traffic Education • Budgeted Funds: Any fund for which a budget must be adopted in order to expend money in the fund (20-9-201) • General, Building Reserve, Adult Education, Bus Depreciation, Technology, Retirement, Flexibility, Debt Service

  13. Transfers • Unless specifically authorized by statue: • Compensated Absence Fund (20-9-512) • TRANSFERS FROM THE GENERAL FUND TO ANY OTHER FUND AND TRANSFERS TO THE GENERAL FUND FROM ANY OTHER FUNDS ARE PROHIBITED

  14. Reserve ChartPosted on Trustees Report and Annual Audit Report

  15. Budget Process • July 1 – August 10: Clerk shall publish notice stating trustee meeting for purpose of considering and adopting the final budget • On or before August 20: Trustees shall meet to consider all budget information • No later than August 25: Trustees shall adopt the final budget • Ongoing review and refinement of the District’s Strategic Plan to articulate priorities • Annual work session to inform trustees, staff, parents and community about school finance/budgeting • Ongoing review and analysis of District's current budget

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