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2018-19 Proposed Expenditure Budget

2018-19 Proposed Expenditure Budget. June 26, 2018. Budget Process. Input Board Study/Executive Sessions District Budget Committee Negotiation Solution Team (NST) Meetings Proposed Budget approval provides the limit – or framework - for the Adopted Budget

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2018-19 Proposed Expenditure Budget

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  1. 2018-19 Proposed Expenditure Budget June 26, 2018

  2. Budget Process • Input • Board Study/Executive Sessions • District Budget Committee • Negotiation Solution Team (NST) Meetings • Proposed Budget approval provides the limit – or framework - for the Adopted Budget • Scheduled to be considered June 26, 2018 • Adopted Budget is the official budget • Scheduled to be considered July 10, 2018 (must be approved by July 15th each year) Note – the State forms are the official adopted budget and the Gold Book represents our Working Budget

  3. DVUSD Financial Priorities • Salary Increase for All Employees • Maintain Limited Capital Funding • Manage the Structural Deficit

  4. Summary of Proposed Gold Book Highlights of Proposed Budget Factors • Base Support Level • M&O Override continues at 15% • 1.8% Inflationary increase added to M&O • Current Year funding provision included (projecting 0.5% reduction) • The Teacher Experience Index (TEI) is increased from 1.0128 to 1.0129 • Includes ongoing Proposition 123 funding • M&O carryforward projected to be $1,007,000

  5. Summary of Proposed Gold Book Highlights of Proposed Budget Factors (con’t) • Staffing is based on a projected student enrollment decrease of 0.5%, using current staffing standards • The class size standards that are used are KDG (26), 1st (28), 2nd-3rd (29), 4th (33), 5th-6th (34), 7th-8th at K-8 schools (27), 7th-8th at middle schools (28), high schools (27.5) • District Additional Assistance (capital) cut at least $10 million - or 65% • Continued use cash accounts included in budget at an amount of $2,500,000 (includes: half of 5-Cash Accounts, $2.1 M; Athletic Participation Fees, $300K; Parking Fee Increase $100K ) • Includes a projection of $400,000 for Adjacent Ways projects • Net Result is the General Budget Limit increases from $199.8 million in FY18 to $213.7 million in FY19

  6. FY19 Proposed Budget Summary Note – the State forms (GBL) are the official adopted budget and this represents our Gold Book, or Working Budget

  7. Summary of Adjustments to 2018-19 Budget Staffing • Salary increases provided for all employees: $13 million in M&O assigned to salary increases • Certified Increase 12% (10% plus 2% in Classroom Site Fund) • Other Professional Staff 10% • Average Classified Increase 7% • Average Admin/Exempt Increase 4% • Decrease of 3.3 FTE Teachers (due to student decline) • Increase of 1.8 FTE Classified Staff (due to Special Education para professionals) • Classified Salary Increase for January 1, 2018 Proposition 206 Minimum Wage • Full-Time District Athletic Director Reestablished • Additional School-Based Administrative Support Included • Added Nursing as Hard-To-Fill Positions • Increased Substitute Teacher Pay by $5/Day

  8. Summary of Adjustments to 2018-19 Budget (con’t) Non-Staffing • Health Insurance rates increased 8.06% - or $1.896 million - with 100% of the increase funded from VSEBG reserves, as well as small plan design changes • State Retirement increased from 11.5% to 11.8% • Utilities were not increased (due to APS rate changes related to Federal Tax Reform) • Special Education Tuition increased $150,000 • Capital Budget established at $4.88 million in FY19 from $4.4 million in FY18

  9. Summary of FY19 State-Imposed Budget Reductions • District Additional Assistance (capital) • Reduction of at least $10,169,000 (65% of $15.6 M total)

  10. Projected Tax Rate Implications of 2018-19 Budget • Proposition 117 (2012) Made Changes to Assessed Valuations • Primary and Secondary Assessed Valuation combined in to one Net Assessed Valuation • Existing Assessed Valuation growth limited to 5% annually • Implemented for Tax Year 2015 (2015-16 School Year) • DVUSD Net Assessed Valuation increased 5.5% to $2.575 Billion Projected Tax Rate Changes • Primary Rate decreasing 1.0%, or ($0.10412), to $4.240 • Secondary Rate increasing 5.2%, or $0.1278, to $2.600 • Net impact on the average assessed value residential parcel of $202,776 is an annual increase of $66, or 7.2%

  11. Factors Impacting Tax Changes Primary Tax • Assessed Valuation Change & Qualifying Tax Rate (QTR) • DVUSD Net Assessed Valuation increased 6.1% • QTR decreased (2.8%) from $ 4.0468 in 2017-18 to $3.9358 in 2018-19 • State Equalization Assistance Property Tax Rate (SETR) • Homeowner’s Rebate • Cash no longer being considered in tax rate calculation Secondary Tax • Assessed Valuation Change • Fixed payment schedules for bonds and overrides being paid for by an increasing assessed valuation

  12. NOTE – includes an estimate of Homeowner’s Rebate

  13. Deer Valley Unified School DistrictSample Parcel Tax Comparison 2017 to Projected 2018 NOTE – includes an estimate of Homeowner’s Rebate

  14. Notes: FY18 amounts were $400,000 with an annual property tax of $1.6391 for a $100,000 residence. FY18 Adjacent Ways planned to be used for next modernization project and/or traffic signal on 51st Ave.

  15. Questions/Comments

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