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BRYSON ISD

Learn about the financial challenges, positive and negative factors, tax rate determination, and budget goals of Bryson ISD in the 2015-2016 fiscal year.

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BRYSON ISD

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Presentation Transcript

  1. BRYSON ISD 2015-2016 Adopted Budget and Tax Rate Prepared by David Stout, Bryson ISD Superintendent

  2. District Funding • State Aid • Local Taxes • Federal Funds

  3. State Aid History • “Target Revenue” system locked in funding at 2005-2006 levels. • Legislature cut local property tax rates by 33% from cap of $1.50 to cap of $1.00 ($1.04) • Loss of local property tax revenue from budget revenue has never been replaced in state aid since the property taxes were cut by 33%. • Legislature cut additional state funding in 2011 and we are still not back to 2011 levels of funding ($138,642) • Transportation allotment was last updated in 1984

  4. Property Values • Certified property values decreased for Bryson ISD in 2015. The M&O value decreased $32,711,340 and the I&S value decreased $54,549,413. • For 15-16, state will fund us on 2014 values. Since values decreased, we will not collect as much local tax in 2015-16 as we did in 2014-15 and the state will not send as much aid as they would if they knew that our 2015 values had decreased from our 2014 values.

  5. Positive Factors Affecting Finances • Compared to many rural districts, BISD has a diverse local property value based on mineral resources and wind energy. • District enrollment is 257 students and is about the same as we had last year. For the last 3 years or so, enrollment has been up and a strength compared to the years prior to that.

  6. Negative Factors Affecting Finances • 2015 values are down from 2014 and 2013 values • State aid will be lower than it would be if the state knew that our values were down. • Local tax collection will be down due to decreased property values for 2015 • State cuts in funding in 2011 have not been restored • We have lost $74,000 in annual Federal funding since September 1, 2012.

  7. Goals of Budget Process • Provide High Quality School for Children of the Community. • Fairness and Responsibility to Taxpayers • Maximize Available State Aid • Ensure Future Financial Health of District • Retain High Quality personnel • Work toward a balanced budget without wind farm revenue

  8. Property Taxes are Determined By: • Local Property Values • State Laws • District Tax Rate – Effort (we have highest M&O rate possible without a TRE) • Bonded Debt (I&S rate)

  9. Tax Rate Determination 2015-16 Tax Rate = • Maintenance and Operation- $1.04 is highest legal amount without voter approved Tax Ratification Election that could net up to .13 more • Interest and Sinking Fund- dedicated to pay our debt = .34

  10. Proposed Tax Rate The Proposed Tax Rate for 2015-2016 is: M&O = 1.04 I&S = .34 For a total rate of $1.38/$100 Valuation. Same as last year. Local early payment decrease applies to M&O & I&S rate.

  11. Taxes Due for Average Home in BISD • Taxes due on average residence for last year was $443.86 • Taxes due on average residence for this year is $467.20 • 9 years ago tax rate was $1.50 for M&O and .07 for I&S or total of $1.57 ($1.38 for this year)

  12. Benefits • Maintains about $150,000 dollars in cuts to budget that have been implemented since September 1, 2011. • Maintains reduced staff level compared to 4 years ago. This budget cycle has 3.5 fewer FTE’s to serve 257 kids than FTE’s that served 207 kids for the 10-11 budget cycle. • Compared to last year, maintains all programs and services for kids and benefits for employees.

  13. Comparisons • FB officials increased 25% (from 12-13) • BB officials increased 90% (from 12-13) • VB officials increased 100% (from 12-13) • Erate decreased 10% • Total HR cost is down about $1,000 compared to last year • Supply budgets are the same • Tax rate remains the same

  14. Fund 199

  15. Fund 240

  16. Fund 599

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