350 likes | 358 Vues
School Finance 101. 2014 WASSA Fall Conference October 3, 2014 Presented by: Debby Schufletowski, School Business Specialist Robert W. Baird & Co. Key School Finance Variables. How to Communicate Key Variables. Ground Control. Passengers. Flight Tower. Airplane Pilot.
E N D
School Finance 101 2014 WASSA Fall Conference October 3, 2014 Presented by: Debby Schufletowski, School Business Specialist Robert W. Baird & Co.
How to Communicate Key Variables Ground Control Passengers Flight Tower Airplane Pilot
What’s Important? • Typically determines 80%-95% of a district’s operating revenue • Driven by Enrollment • 3rd Friday count is critical (converted to FTE) • Summer school FTE important too • Increase/Decrease set at the state may not directly correlate to district increase due to exemptions, etc. • 3rd Friday Sept Count-final figure to determine how much; October figures finalize the calculation
General Operating Revenue Equalization Aid Revenue Limit Components
What’s Important? • Does not determine how much revenue, instead determines who pays • Prior year local data fit into state figures and calculations • October 15th certification used for budget
Communicating the Mill Rate • Equalized Property Value not Assessed Value • Calculate district-specific home value ranges • Changes in the Tax Levy and Equalized Value will impact on the Mill Rate
What’s Important? • School Levy is determined by: • Revenue limit calculation • Referendum-approved debt (if applicable) • Community service levy (if applicable) • School Levy can change from year to year due to fluctuations in any of the above levies • Mill Rate can further fluctuate due to property value increases/decreases • Focus can be on Mill Rate or Levy or both • District Mill Rate does not always equal home owner mill rate
Importance and Interrelatedness Membership • District Resident Membership • Adjusted for OE in/out • Full-Time Equivalency • FTE • District Resident Membership adjusted for non-full time activity • Early childhood • 4K
Salary / Fringe Composition • Salary adjustments affect WRS, FICA, etc. • May look different with employee handbook implementation The hypothetical example is for illustrative purposes only.
Open Enrollment • Applicants may not attend district(s) applied to • Budget soft until numbers finalized in May/June • Helpful to provide estimates prior to September count • Head count vs. Resident membership vs. FTE • Head count = Staffing needs • Membership FTE = Revenue/Aid
Referendum vs. Non-Referendum Debt *lesser of $1,000,000 or general aid calculation / audited members * .015 * district audited members
Communicating Debt Service • Included in Equalization Aid shared cost calculation • Fund 38 and 39 impact the total district tax levy differently • Provide opportunities to manage the levy • Energy efficiency exemption The hypothetical example is for illustrative purposes only.
Fund Balance vs. Cash Balance • Fund Balance does not equal available cash • Figure changes daily; typically cite June 30 figure The hypothetical example is for illustrative purposes only.