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Cedar Rapids Community Schools School Finance Basics Updated: 9-20-10

Cedar Rapids Community Schools School Finance Basics Updated: 9-20-10. Certified Enrollment Trends. Data Source: Line 7 “Certified Enrollment” Resident Pupils. Open Enrollment Trends*. FY 2011: $2 million gap. Total losses exceed $13.2 million since inception.

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Cedar Rapids Community Schools School Finance Basics Updated: 9-20-10

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  1. Cedar Rapids Community Schools School Finance Basics Updated: 9-20-10

  2. Certified EnrollmentTrends Data Source: Line 7 “Certified Enrollment” Resident Pupils

  3. Open Enrollment Trends* FY 2011: $2 million gap Total losses exceed $13.2 million since inception. *Data Source: FTE of open enrolled resident public students, Annual Certified Enrollment

  4. “District Cost Per Student” State Allowable Growth is 2% for fiscal year 2010-2011. FY2012 will be decided in Feb 2011.

  5. Allowable Growth Trends • Percent District Cost • Fiscal YearGrowthPer Pupil • 2001-2002 4.00% $4,512 • 2002-2003 1.00% $4,557 • 2003-2004 2.00% $4,648 • 2004-2005 2.00% $4,741 • 2005-2006 4.00% $4,931 • 2006-2007 4.00% $5,128 • 2007-2008 4.00% $5,333 • 2008-2009 4.00% $5,546 • 2009-2010 4.00% $5,768 • 2010-2011 2.00% $5,883

  6. What will the District receive in New Money?

  7. Actual Revenues: General Fund Fiscal Year 2009-2010 Other Financing Sources Federal Sources Local Sources StateSources Total General Fund Revenues: $169,980,988

  8. Fiscal Year 2011Valuation Per Student State Average FY2011: $263,000

  9. Property Tax Valuation Trends *Excludes TIF valuations

  10. District Levy Rate Trends

  11. Tax Levy ComparabilityLinn County School Districts Fiscal Year 2010-2011 Revised 5-20-10

  12. Tax Levy ComparabilityUrban Education Network Fiscal Year 2010-2011 Revised 5-20-10

  13. General Fund Actual Expenditures Fiscal Year 2009-2010

  14. Actual Revenues: All Funds Fiscal Year 2009-2010 Total Revenues: $223,636,684

  15. District Actual Revenues: By Source Fiscal Year 2009-2010 Total Revenues $223,636,684

  16. Actual Expenditures: All Funds Fiscal Year 2009-2010 Total Expenditures: $257,802,811

  17. General Fund Reserve Trends Cash* and Unspent Balance (millions) Revised 9-20-10 * Cash is defined as ending “fund balance.”

  18. General Fund Reserve GoalIowa Schools Cash Anticipatory Program(ISCAP) Solvency Ratio Reserve Goal: To achieve a 8.0%-10% solvency ratio through a balanced budget and continued use of the cash reserve levy. Revised 9-20-10

  19. Historical and ProposedCash Reserve Levies Total Cash Reserve Levy: $9.7 million Preliminary SBRC FY2011 Cash Reserve Levy Limitation: $29.97 million

  20. Questions ? & Answers

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