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Educational Funding Sturgis Public Schools 2010 - 2011.

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Presentation on theme: "Educational Funding Sturgis Public Schools 2010 - 2011."— Presentation transcript:

1 Educational Funding Sturgis Public Schools

2 Why do we need to understand educational funding? School improvement Student achievement Site-based management School as a business

3 What does funding affect? Class sizes Employee compensation Buildings and playgrounds Textbooks Technical equipment Specialist classes Extracurricular activities Community confidence

4 Sturgis Public Schools Revenue Budget

5 Federal Revenue Historically driven by equal opportunity 1790 – mid 19 th century – equal opportunity defined by physical access to school 20 th century – equal opportunity defined by equal spending per pupil ARRA – create and save jobs and jump-start economy

6 Michigan School Aid Fund Revenue By Source FY

7 State Revenue – Proposal A 1994 Constitutional amendment Attempt to close funding gap Created per-pupil funding Increased sales tax from 4 – 6% Decreased property tax Homestead – 6 mills Nonhomestead – 18 mills

8 Michigan’s Struggling Economy Lost automotive manufacturing jobs Revenue consensus – Balanced budget requirement 1995 – Michigan was in the top 1/3 in individual wealth 2010 – Michigan now in the bottom ¼ in individual wealth Population decline

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11 Local Revenue Tuition, investment earnings, rentals Universal service funds Grants – Sturgis Foundation endowment grants, mini-grants, solar grant, etc. Abbott solar/wind grant

12 Fund Balance Cumulative excess of revenues over expenditures Measurement tool of the district’s financial health School’s form of a savings account Safety net for unforeseen circumstances Savings plan for future needs

13 Advantages of Higher Fund Balance Minimizes reductions of employees and programs Decreases dependency of state aid borrowing Provides security from fluctuating expenses Contributes to higher bond ratings

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15 Sturgis Public Schools Spend Down Formula

16 Expenditures State wide per-pupil revenue of $8,981 fell below expenditure of $9,545 Some costs out of district control – retirement contribution Some costs difficult to contain – energy and health care Federal and state mandates

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19 What Have We Done to Control Costs? Renovated buildings Energy education Reduction in employees Changed health insurance carrier Others?

20 Questions? Please contact Vicki Watson Thank you for your time


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