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Oklahoma Public School Finance October 2013

Oklahoma Public School Finance October 2013. What are the facts? P arent L egislative A ction C ommittee. What funds do schools utilize to operate?. General Fund Building Fund Sinking Fund Child Nutrition Fund Coop Fund Gifts and Endowment Fund Activities Funds.

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Oklahoma Public School Finance October 2013

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  1. OklahomaPublic School FinanceOctober 2013 What are the facts? Parent Legislative Action Committee

  2. What funds do schools utilize to operate? • General Fund • Building Fund • Sinking Fund • Child Nutrition Fund • Coop Fund • Gifts and Endowment Fund • Activities Funds

  3. Seven Revenue Streamsto the General Fund • Ad Valorem • County Four Mill • School Land • Gross Production • Motor Vehicle • REA Tax • State Aid

  4. Ad Valorem • 2014 Unknown • 2013 $975,798,488 • 2012 $943,545,452 • 2011 $905,082,205 • 2010 $878,483,380 • 2009 $827,463,946

  5. County Four Mill • 2014 $82,606,197 • 2013 $82,246,197 • 2012 $78,423,259 • 2011 $75,465,371 • 2010 $71,260,484 • 2009 $68,501,234

  6. School Land • 2014 $93,000,000 • 2013 $101,834,904 • 2012 $93,160,723 • 2011 $83,212,992 • 2010 $60,914,061 • 2009 $50,656,184

  7. Gross Production • 2014 $60,804,754 • 2013 $66,528,645 • 2012 $57,919,963 • 2011 $97,227,004 • 2010 $78,156,027 • 2009 $70,170,935

  8. Motor Vehicle • 2014 $238,717,323 • 2013 $229,663,512 • 2012 $219,919,668 • 2011 $219,312,126 • 2010 $219,310,081 • 2009 $218,067,250

  9. REA Tax • 2014 $35,001,282 • 2013 $33,296,234 • 2012 $31,213,972 • 2011 $28,930,479 • 2010 $28,626,773 • 2009 $30,608,861

  10. Accounting for Revenue in the Formula • Oklahoma’s public school funding formula adjusts state funding to school districts based on the amount of revenue generated at the local level. • This “chargeable” revenue includes: REA Tax, Motor Vehicle, Gross Production, School Land, County 4 Mill, and Ad Valorem.

  11. State Aid Appropriations from the Legislature • 2014 $1,837,570,779 • 2013 $1,816,091,355 • 2012 $1,814,403,898 • 2011 $1,894,000,000 • 2010 $1,924,000,000 • 2009 $2,037,000,000

  12. Volatility in Chargeable Revenue Creates Need for Carryover Fund • Dramatic swings in chargeable revenue impact districts in different ways. • Carryover funds allow local districts to react to unexpected dips in chargeable revenue streams.

  13. Total Revenue • 2014 $3,351,498,823 • 2013 $3,305,459,335 • 2012 $3,328,586,935 • 2011 $3,303,230,177 • 2010 $3,260,750,806 • 2009 $3,345,004,464

  14. Total Revenue • Comparing FY 2009 to FY 2014 total state aid available to schools has increased by $6,494,359.00. • That is NOT the entire story!

  15. Weighted Students Numbers JULY December • 2014 1,057,955.47 Unknown • 2013 1,041,986.72 1,071,200.32 • 2012 1,030,947.83 1,053,078.80 • 2011 1,013,727.86 1,036,456.96 • 2010 996,510.32 1,018,540.10 • 2009 987,377.53 1,003,289.69

  16. Weighted Student Increase • Comparing July 2009 to July 2014 Oklahoma’s enrollment has increased by 70,577.94 weighted students. • Average student weight is 1.5859 • Approximate enrollment increase from July 2009 is 44,500 students.

  17. State Aid Factors / Per Pupil Funding July Final • 2014 $3,038.60 Unknown • 2013 $3,039.20 $3,035.00 • 2012 $3,041.40 $3,040.20 • 2011 $3,110.38 $3,111.58 • 2010 $3,291.20 $3,206.62 • 2009 $3,221.40 $3,275.60

  18. Per Pupil Funding Reduction • Comparing July 2009 to July 2014 the amount of state aid available per student has fallen dramatically! • Despite increased appropriations from the state, schools now have $182.80 less per weighted student than in July of 2009.

  19. Returning to Pre-Recession Per Pupil Funding • Enrollment Increase ‘09 to ’14 = 70,577.94 • Current Per Pupil Funding = $ 3,038.60 • Restore Per Pupil Funding = $ 182.80 • 70,577.94 X $3221.40 = $ 227,359,775.92

  20. New Formula Dollars AvailableMid year Calculations • Ad Valorem Unknown • County Four Mill $3,000,000 • School Land $11,420,454 • Gross Production $1,073,203 • Motor Vehicle $4,308 • REA Tax $741,955 • State Aid $39,038,468 • TOTAL $55,278,428

  21. December 2013 State Aid Allocation $55,278,428 ÷ $3,038.60 = 18,192.07 $88,768,445 ÷ $3,038.60 = 29,213.60 Ad Valorem Growth $33,490,017

  22. Why Should Schools BeFunded Better? • Pay for Reform Implementation • Pay Teachers Better • Reduce Class Size • Hire Additional Classroom Support Staff • Restore Elective Offerings • Provide Technology Advances • Grow the Oklahoma Economy

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