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DAINGERFIELD-LONE STAR INDEPENDENT SCHOOL DISTRICT

DAINGERFIELD-LONE STAR INDEPENDENT SCHOOL DISTRICT. Budget Hearing August 29, 2013. VISION . The vision of Daingerfield-Lone Star Independent School District is to graduate successful, productive citizens through educational excellence and community involvement. MISSION STATEMENT.

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DAINGERFIELD-LONE STAR INDEPENDENT SCHOOL DISTRICT

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  1. DAINGERFIELD-LONE STAR INDEPENDENT SCHOOL DISTRICT Budget Hearing August 29, 2013

  2. VISION The vision of Daingerfield-Lone Star Independent School District is to graduate successful, productive citizens through educational excellence and community involvement.

  3. MISSION STATEMENT The mission of Daingerfield-Lone Star Independent School District is to challenge each student to reach his or her intellectual, creative, and physical potential by providing a fully integrated curriculum and rigorous instruction.

  4. ROLES AND RESPONSIBILITIES • Campus • Administration • School Board

  5. CAMPUS RESPONSIBILITIES • Develops goals and planning objectives for the campus and its programs • Establishes funding priorities for resource allocations and ensures consistency with campus improvement plans, instructional goals and objectives, and other planning needs • Prepares preliminary campus budget • Principals and directors provide advisory review of preliminary budget

  6. ADMINISTRATOR RESPONSIBILITIES • Develops and communicates budget process guidelines and calendar • Develops district revenue estimates • Compiles and reviews personnel staffing needs • Compiles all school budgets into proposed district budget • Submits proposed district budget to school board

  7. BOARD RESPONSIBILITIES • Reviews/prioritizes/revises proposed budget submitted by superintendent and staff in workshops/working sessions • Conducts public hearings for budget consideration • Adopts official budget and tax rate

  8. DISTRICT FINANCIAL PLAN A school district’s budget is a financial plan, but in practice it actually comprises three individual plans… • Educational Plan • Revenue Plan • Expenditure Plan

  9. THE EDUCATIONAL PLAN The budget supports the mission and strategic plan of the district, including: • District Goals • Campus Improvement Plans • Long-range Plans • Guide for Priority Spending

  10. THE REVENUE PLAN The estimated income expected from three major sources of revenue – approved budget

  11. THE EXPENDITURE PLAN The detailed part of the budget that provides an audit trail for revenues • Fund – where the revenue comes from • Function – why the revenue is spent • Object – what is purchased • Program Intent – mandated state allotment spending

  12. BUDGET BY FUND • General Fund – M & O • Special Revenue • Food Service • Sp Ed SSA • Interest & Sinking – Bonded Debt A fund is a self-balancing set of accounts recording financial resources and liabilities. A district designates the fund’s financial resources for a distinct purpose.

  13. BUDGET BY OBJECT(What types of items are purchases or services obtained) • 6100 – Payroll Costs • 6200 – Contracted Services • 6300 - Supplies • 6400 - Other Operating Expense • 6500 – Debt Service • 6600 – Capital Expense

  14. DEBT SERVICE • Interest & Sinking Fund • Accounts for bonded indebtedness • Two outstanding bond issues • DLSISD U/T Series 2010, maturing in 2021 • Unlimited Tax Qualified School Construction Bonds, Taxable Series 2012, maturing in 2027 • Debt ratio is 7.08 % • Total 2013-14 debt payments $784,074 plus $55,000 Sinking Fund Payment

  15. UNDERSTANDING FUND BALANCEUnreserved Fund Balance is simply total assets minus total liabilities and encumbrances – your net worth. The following examples illustrate why it is important to maintain an adequate level of unreserved fund balance… • Catastrophic and uninsured losses • Investment Income • Credit and bond rating • Cash flows for normal school operations • Shortfalls in one or more revenue sources • Last-minute legislation! Fund Balance – 2011/12 EOY - $3,030,458

  16. HISTORICAL FUND BALANCE AND ENROLLMENT

  17. Demographic Information • Student Enrollment: 1,100 (est.) • Employee Count: 204 • Economically Disadvantaged: 79.8% • Ethnicity Breakdown • Hispanic: 16.54% • African American: 42.21% • White: 36.81% • Other: 4.44% • Target Revenue: $5,046

  18. BUDGET SUMMARY

  19. TAX SUMMARY • Current Taxable Value - $777,218,510 • Current Tax Rate - $1.155 per $100 valuation • Current Levy - $9,194,581.80 (after adjustments) • Current Collections (as of June 30, 2013) - $8,766,328 • Estimated Collection 7/01-9/30/2013 - $50,000 • Percent of Collections – 95.88% (98.19% without discount) • Next Yr’s Taxable Value - $733,489,952 • Next Yr’s Proposed Tax Rate - $1.154599 per $100 valuation

  20. HISTORICAL TAX RATE

  21. TAX RATE COMPARISON(Required Newspaper Ad) This Yr Next Yr • Avg. Mkt. Value of Home $54,069 $56,991 • Avg. Taxable Value $27,588 $29,371 • This Yr Rate/Next Yr Rate 1.155000 1.154599 • Taxes Due on Avg. Residence $318.64 $339.12 • Increase (Decrease) in Tax $ 20.48

  22. Success is not final, failure is not fatal, it is the courage to continue that counts. -Winston Churchill

  23. Questions??? Thank you for your attendance!

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