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SCHOOL FINANCE ESSENTIALS

SCHOOL FINANCE ESSENTIALS. "To be persuasive we must be believable; to be believable we must be credible; credible we must be truthful." — Edward R. Murrow "If I am through learning, I am through." — John Wooden. SCHOOL FINANCE ESSENTIALS.

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SCHOOL FINANCE ESSENTIALS

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  1. SCHOOL FINANCE ESSENTIALS "To be persuasive we must be believable; to be believable we must be credible; credible we must be truthful." — Edward R. Murrow "If I am through learning, I am through." — John Wooden

  2. SCHOOL FINANCE ESSENTIALS WASDA NEW ADMINISTRATORS WORKSHOP Brad Adams – School Finance Consultant Bruce Anderson – School Finance ConsultantSeptember 25, 2013

  3. Agenda • PI 1500 District Contacts Report • Counting Kids • Short Term Borrowing • Revenue Limit Basics • Overall Budget & Property Tax Levy

  4. Website Resources • http://dpi.wi.gov/sfs/index.html • Website Organization Three center sections (white background) • General Information – New Communications; Reporting Portal; PI 1500; Data Warehouse; Budget Development Tools • School Financial Services Team – Team Directory • Wisconsin Finance-Related Links Scan bar on the left margin (gray background) • DPI Menu – Access to other DPI websites • School Finance Topics – Links to important school finance topics

  5. PI 1500 District Contacts Report Click on this Link

  6. PI 1500 District Contacts Report • The PI 1500 District Contacts Report accomplishes three goals. • Identifies contacts for listserv and newsletter emails • (“Mailings/List Serv” in the left margin scroll bar does allow anyone to subscribe to the List Serve.) • Identifies who is authorized to submit and receive information for each school financial services report (targeted emails) • Creates an ID/Password for those individuals authorized to submit reports.

  7. PI 1500 District Contacts Report Enter ID/Password

  8. PI 1500 District Contacts Report Summary page shows all authorized individuals with authorized reports This link takes you to the first page of the report.

  9. PI 1500 District Contacts Report A contact can be added on this page. Do not add a new contact by editing an old name. To eliminate a contact, remove all “authorized” check marks and sent an email to Brad A. or Bruce A. to the Delete the contact from this Portal and a backup database use by the SFS Team. At least two individuals in your district should be identified as “authorized contact “ for the PI 1500 District Contacts Report.

  10. PI 1500 District Contacts Report There are 6 pages, listing 21 different topics that the individual can be selected to be the “Authorized Contact” or “Receive Info”. Once the individual is in the PI-1500, continue to hit “next” thru all the pages and authorize individuals accordingly by individual report.

  11. PI 1500 District Contacts Report The summary page will identify each individual with applicable reports. You will also notice that an email icon appears. If you click on the icon, an email will be automatically created that contains the individual’s ID/password. Email this information.

  12. PI 1500 District Contacts Report • IDs/Password are individual specific and can be changed with the assistance of a SFS team member. • Unless you are authorized to submit via the District Contacts Report, you will not be able to access the reports. • The District Contacts Report stays open all year long to allow for staff changes. • Districts should be reviewing this report through out the year to make sure it is updated to reflect current staff and staff assignments. • The PI 1500 is being renovated. The School Financial Services (SFS) team is working to complete the renovation during the 2013-2014 school year.

  13. Counting Kids • PI 1563 September Pupil Count Report • Report used to collect district count data for the 3rd Friday in September. • Data from the report is converted to full-time equivalency and used in the calculation of a district’s revenue limit and equalization aid. • NEW (2013 Wisconsin Act 20): Part-time non-resident home-schooled pupils will impact your district’s equalized aid.

  14. Counting Kids • Under 2013 Wisconsin Act 20 (2013-15 State Budget), home-schooled pupils may take up to 2 courses per semester at a public school in their resident or non-resident district, in any grade (formerly just high school grades in the resident district.) • Pupils will be counted differently depending on whether or not they are a resident of the reporting district. • Each district will be asked to enter the number of Part-time non-residenthome-schooled pupils taking 1 course and the number taking 2 courses at each grade level (K-12). • (This is a departure from the general pupil count process in that the pupil is counted in the district of attendance rather than district of residence). • Those counts will then be converted to FTE in the amount of 0.25 FTE per course, up to 0.50 FTE per pupil (per semester). This non-resident, part-time FTE count is added to membership for General Aid purposes (not Revenue Limit purposes).

  15. Counting Kids • General Count Guidelines • In general, count the student if: • The student is a district resident. • The District is financially responsible for the student’s educational program. • The student is present for instruction on the count date or meets the before and after rule.

  16. Counting Kids • General Count Guidelines • Present – The student is in attendance for instruction on the count date. • Absent - The pupil is absent on the count date, but has attended at least one day during the school year prior to the count date and at least one day during the school year after the count date, and has remained a resident of the district during the period of absence.

  17. Non-Resident Reductions Resident Reductions Resident Additions Adjusted Head Count* - - Head Count + = Subtract all resident students being served by the district that don’t meet the count guidelines. (less than full time, outside age eligibility) Identify all students, regardless of residency, being directly served by the district. Subtract all non-resident students being served by the district. Add all resident students who are receiving educational services from other districts or programs and for which your district is paying the cost of full-time tuition. Result is the students that are residents for which you are financially responsible for. PI-1563 Pupil Count Process * Will be converted to full-time equivalency.

  18. Counting Kids • Preschool Special Education • Students must be at least 3 years of age as of the count date. • Student must have an IEP (Individualized Education Plan) and be receiving instructional services. • No minimum required number of instruction hours.

  19. Counting Kids • 4 Year Old Kindergarten • Districts should only use these two lines if: • the 4 year old kindergarten program is open to all students • the program is funded by district resources—not solely by Title One funds • the student is at least 4 on or before September 1st

  20. Counting Kids • 4 Year Old Kindergarten (continued) • 4 Yr – 437 Hours: program shall have at least 437 hours of instruction, which can include up to 87.5 hours of outreach activities. • 4 Yr – 524.5 Hours: program shall have at least 437 hours of instruction and 87.5 hours of outreach. The school shall NOT substitute instructional time for outreach activities.

  21. Counting Kids • 5 Year Old Kindergarten (program options) • 5 Year Old – Half Day Program • 5 Year Old – 3 Full Day Program • 5 Year Old – 4 Full Day Program • 5 Year Old – 5 Full Day Program • 5 Year Old – Blended Program The student must be at least 5 years of age on or before September 1st.

  22. Counting Kids • Grades 1 – 12 • Students must be 6 years of age on or before September 1st of the current year. • In all count categories, the student must meet the age requirement or be admitted under early admittance guidelines as defined by the Board of Education.

  23. Counting Kids • PI 1563 January Pupil Count Report • Report used to collect district count data for the 2nd Friday in January. • Reporting process is the same as the PI 1563 September Pupil Count Report • Data is converted to full-time equivalency and used in the calculation of a district’s equalization aid.

  24. Counting Kids • PI 1804/1805 Summer School Pupil Count Report • Report used to collect district FTE (full time equivalency) data for the just ended summer term. (Summer school starts the school year!) • FTE data is used in the calculation of a district’s revenue limit and equalization aid. • The summer school report is one of the few reports that ask for an FTE count as opposed to a head count.

  25. Counting Kids • Summer School Membership (FTE) is obtained by: • Calculating the district’s total summer school resident pupil membership minutes • Dividing the total by 48,600 and rounding to the nearest whole number. • A worksheet is available to assist in this process. http://sfs.dpi.wi.gov/files/sfs/xls/SS1804.xls • Used in both the revenue limit and equalization aid calculation.

  26. Counting Kids • FTE Report • The FTE is calculated automatically and displayed in an FTE report for each district. • Anytime the district changes a number within either the September, January, or Summer Pupil Count Reports, the report automatically updates. • The report is located on the District’s Homepage within the School Finance Reporting Portal.

  27. Counting Kids • Report Amendments • Up until the due date of the January pupil count report, districts may go into either the September, January, or Summer Pupil Count Reports and make any necessary changes. • After the January Pupil Count Report has been submitted andmembership audits have been announced, districtseither make changes thru the audit or contact the School Finance Team to make changes.

  28. Counting Kids • Membership Audits • On or about February 1st, the School Finance Team will announce which districts are required to have a membership audit. • The district’s auditor will verify the district’s reported counts for: • 3rd Friday in September • 2nd Friday in January • Summer School (as well as fees)

  29. Counting Kids • Resources are available on the website to assist you. • General Count Instructions • PI 1563 Pupil Count Workbook • PowerPoint • Media Site http://sfs.dpi.wi.gov/sfs_membrpt2

  30. Cash Flow Borrowing • Why do some districts need to short-term borrow? • Insufficient fund balance • Expenditures are fairly consistent but revenues are sporadic • A shortfall can occur at times during the year as a result of a combination of these two factors

  31. Cash Flow Borrowing • Consult with school attorney and financial advisor to insure all requirements are met • Cash flow analysis is required to help determine amount and timeline • Explore various funding options

  32. Revenue Limit Basics • Revenue Limit Calculation – Determines the revenue limit a school district is entitled to from general state aid, local levies and state computer aid • What affects the revenue limit – Membership, Inflationary Increase and Exemptions • Exemptions – Recurring and Non-Recurring • Recurring – Permanently in your base (Ex.: Transfer of Service and Recurring Referendum) • Non-Recurring – Limited time only (Ex.: Declining Enrollment, Energy Efficiency and Non-recurring referendum)

  33. Revenue Limit Worksheet Basics These amounts are prefilled from your final revenue limit worksheet from the previous year. You should check to make sure they correspond with your information. This is your base (starting point) for the current year.

  34. Revenue Limit Worksheet Basics The Previous and Current three –year rolling averages are compared to determine if there is a declining enrollment exemption

  35. Revenue Limit Worksheet Basics You fill in 17A and 17B from your October Certified Values received from the Department of Revenue through DPI

  36. Right hand side of revenue limit worksheet is where your new limit is determined – Line 11 is your new revenue limit total

  37. Line 12A is your October 15 Certified State Aid -- Do not use your July 1 estimate. Total of 14A, B, and C cannot exceed Line 13 – If you levy to the maximum, it should be the same number Line 15 is total of all of your other levy amounts Line 16 is the Total Levy.

  38. Budget & Property Tax Levy • There is a direct relationship between the numbers on the revenue limit worksheet and those on your budget and property tax levy (Form PI – 401) • Fund 39 Property Tax Levy for Debt Service – Your revenue limit, revenue budget and PI - 401 should be the total amount owed for the upcomingcalendar year (Jan. – Dec.). Your expense budget should be the amount you will pay out in the current fiscal year (July 1 – June 30). • Fund 80 Property Tax Levy for Community Service – The amount you need to tax to balance out that fund for the fiscal year.

  39. Revenue Limit Worksheet District Levy Accounts • 10-800-211-500000 Property Tax -- District Wide $ 1,066,760 • 10-800-212-500000 Property Tax Chargeback $ 189 • 10-800-691-500000 Computer Aid $ 9,414 • 39-800-210-500000 Property Tax – Debt Service $ 350,000 • 80-800-210-500000 Property Tax – Community • Service $ 20,000 • Actual District Revenue Budget

  40. Revenue Limit & Tax Levy • After the Board sets the levy (on or before Nov. 1), the district completes the PI-401tax levy report (due on Nov. 8 this year) which generates the PI-1508 forms used to certify the levy to the municipalities which is due Nov. 10. • After the district completes the PI-401, it feeds into the right side (second page) of the revenue limit worksheet. • We will contact districts that have overlevied any amount or underlevied significantly.

  41. Per Pupil Adjustment Aid for 2013-15 • Per Pupil Adjustment Aid will be $75 per pupil categorical aid in 2013-14, with an additional $75 in 2014-15. This revenue is outside of the revenue limit. • The current three-year rolling average pupil count under revenue limits would be used to calculate this per pupil aid to school districts. • Specify, this per pupil aid will be paid on the fourth Monday in March. • During this biennium and into the know future, there is no requirement to levy to the maximum and that is the reason it was removed from the revenue limit worksheet.

  42. School Finance Contacts • Brad Adams Consultant 608-267-3752 • Bruce Anderson Consultant 608-267-9707 • Gene Fornecker Auditor 608-267-7882 • Brian Kahl Auditor 608-266-3862 • Michele Tessner Auditor 608-267-9218 • Victoria Chung Accountant 608-267-9205 • Robert Soldner Director 608-266-6968 • Erin Fath Asst. Director 608-267-9209

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