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Economic and Revenue Forecast Impact on NSSD Funding Challenges for K-12 Education

This report details the financial landscape affecting the NSSD’s funding for K-12 education from 2010 onward. It highlights significant events such as tax increases, revenue forecasts, and funding changes, including the downward adjustments and challenges posed by federal funding losses and state budget constraints. The implications for the future sustainability of education funding are discussed, alongside the necessity of making informed decisions based on practical realities and ongoing communication within the district.

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Economic and Revenue Forecast Impact on NSSD Funding Challenges for K-12 Education

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  1. Economic and Revenue ForecastDecember 2010 Effect on NSSD

  2. HISTORY January 2010 • Passed Income Tax and Corporate Tax Increases • Funding at $6.0 Billion for K-12 Education

  3. HISTORY May 2010 • New Revenue Forecast • New Funding Level is $5.73 Billion for K-12 • Cut of $950,000 to NSSD

  4. HISTORY August 2010 • EduJobs Bill Passes • Provides $454,000 to NSSD

  5. HISTORY September 2010 • Revenue Forecast Down • Loss At $556,000 to NSSD • State Adds Rainy Day Funds to EduJobs Funding • Governor, Speaker of the House, and Senate President Issue Statement • Use EduJobs and Rainy Day Fund ($103,000) to Hold K-12 Education at $5.73 Billion Level

  6. CURRENT December 2010 • Revenue Forecast Adds to Rainy Day Fund Reserve • Long Term Income Projection for 2011-13 Biennium Drops Slightly • Numbers are the Result of New Withholding Guidelines for State Income Taxes • 2011-13 Biennium Down Another $277.7 Million • Approximately 140 million per year or down $400,000 to NSSD Per Year

  7. Forecast Changes

  8. FUTURE SUSTAINABILITY Spring 2011 • Legislature is in Session • Determination of Funding Level for New Biennium • Will Legislature Fund Education at $5.73 Billion for K-12? • Current State Revenue without Federal Funds is approximately $5.45 Billion for K-12

  9. FUNDING CHALLENGES At the end of this fiscal year, the NSSD will face these challenges: • Loss of $714,000 Federal Funding to NSSD • Minus $260,000 Stimulus • Minus $454,000 EduJobs • PERS Bill $580,000 Each Year of New Biennium • $200,000 of Additional Stimulus Funding in Special Ed ARRA goes away that is currently funding employees • 6 day cut to teachers, confidential and administration this year will cost appr. $300,000

  10. FUNDING CHALLENGES • Where we will go from here • To finish this year (2010-11): • Seek every possible efficiency and savings to gain as much carryover as possible • Copier contract and need under review • Energy use in facilities • Look for efficiencies in staffing

  11. FUNDING CHALLENGES • For 2011-12 • #1 Accurate determination of NSSD costs • #2 Determine shortfall/surplus at $5.5, $5.6 and $5.7 levels of state funding • #3 Monitor Oregon Legislature, March and May revenue forecasts • #4 Continue to communicate fiscal status with all employees • Models developed will serve as the basis for the 2011-12 budget process

  12. FUNDING CHALLENGES Our budget for next year will be based on • What is best for our students • Our District Mission, Vision and Goals • Maintaining as comprehensive a program as possible • Sustainability—which is our ability to meet current needs and prepare for the educational challenges of the future

  13. FUNDING CHALLENGES • My responsibilities • Define reality • Do what is best for our students • What I ask of you: • Continue to do the great work that you have done so far this year • Understand that all funding scenarios contain variables and uncertainties • Communicate known truths, don’t pass on things you do not know are accurate statements • Talk to, not about, people

  14. QUESTIONS/COMMENTS

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