System Budget FY 2016 Board of Education May 21, 2015.

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Presentation transcript:

System Budget FY 2016 Board of Education May 21, 2015

Total Appropriation – All Funds General Fund $ 82,708,369 Special Revenue Fund $ 13,119,660 Capital Projects Fund $ 17,749,000 School Nutrition Fund $ 6,274,456 Debt Service Fund $ 0 Total $119,851,485

Local Five Mill Share Required local match against QBE Earnings Five equalized mills of local property tax Griffin-Spalding: FY 2016 $ 7,003,042 FY 2015 $ 7,174,138 Decreased ($ 171,096) 2.4%

Equalization Grant FY 2015 $ 7,248,192 FY 2014 $ 6,955,535 Increased $ 292,657 4.2% GSCS dropped 4 places in the per student wealth rankings – 134th to 138th out of 180 systems.

Austerity Reduction - Comparison Total Austerity Reduction since FY2003 - $52,222,821

Ad Valorem Taxes Projected millage – 19.47 Same as FY15 Using growth rate of 2% net tax digest 97% collection rate factored into estimate Appeals and TAVT have significant impact

Ad Valorem Taxes Projected -------------------------------------------------------- Actual --------------------------------------------------------- FY16 FY15 FY14 FY13 FY12 FY11 FY10 Ad Valorem Millage Rate 19.47 19.06 18.80 Net M&O Digest 1,360,902,202 1,334,217,845 1,382,709,218 1,369,907,557 1,411,385,276 1,462,878,583 1,489,013,395 Tax Levy, Gross 26,496,766 25,977,221 26,921,348 26,672,100 26,901,003 27,502,117 27,993,452 Less: County collection fees (662,419) (649,431) (673,034) (666,803) (672,525) (687,553) (699,836) Total tax levy, net 25,834,347 25,327,791 26,248,315 26,005,298 26,228,478 26,814,564 27,293,616 Net digest growth rate 2.00% -3.51% 0.93% -2.94% -3.52% -1.76% -0.20% Value of 1 mil, net of County collection fees 1,326,880 1,300,862 1,348,141 1,335,660 1,376,101 1,426,307 1,451,788

FTE Counts FY2011 (midterm) FY2012 (initial) 10,251 FY2012 (midterm)

General Fund – Revenue Summary FY16 FY15 % Change Local 26,864,407 26,562,119 1.14% State 53,071,024 53,071,024 4.52% Federal 373,000 378,770 1.52% Total 82,708,369 80,011,913 3.37%

General Fund – Revenue by Source Fiscal Year 2016

General Fund Expenditures Items Included 180 day school year for students Full year work calendar for all staff Implementation of the salary study results Teachers – 8% local supplement on first step, 6% minimum on remaining steps Administration – 3% across the board, grade changes to target average group salary (rank 5-7 of 12) Classified – 3% across the board, grade changes to target average group salary rank Employer contribution to defined contribution plan for PSERS eligible employees (custodians, nutrition, bus drivers) 3% starting January 2016

General Fund Expenditures Items Included Longevity step for all eligible employees Health insurance rate flat $945/mo. for certified $596.20/mo. for classified, increases to 746.20/mo. in January 2016 Employer’s share of TRS increases from 13.15% to 14.27% of salary Transfer to workers compensation fund – $350,000

General Fund Expenditures Items Included Positions changes Reduce 5.5 teaching positions (FTE decline) Restore two assistant principals at the middle school level (two APs at each middle school) Two ESOL teachers to change from cluster model to serving students at home school

General Fund Expenditures Items Included Griffin Regional College and Career Academy - $300,000 K-12 Virtual School - $80,000 SAT/ACT preparatory courses - $50,000 Character Education initiative - $40,000 Summer school program - $80,000 School Resource Officers – one at each high school and middle school - $270,000 School nurses – continued at all schools

General Fund Proposed FY16 Budget: Total Revenues $82,708,369 Total Expenditures $82,708,369 Difference $ 0 Fund Balance, Beginning $11,758,896 Fund Balance, Ending $11,758,896 Focus on sustainability

General Fund – Expenditures

General Fund – 3 year projection FY2016 FY2017 FY2018 Beginning Fund Balance 11,758,896 10,570,896 Revenue 82,708,369 Expenditures 83,696,369 Net Operations (988,000) GRCCA (200,000) Add health insurance* (188,000) Additional expenses (step)* (800,000) Revenues over Expenditures (1,188,000) (1,988,000) Ending Fund Balance 8,582,896 FY2018 Ending Balance, Target 6,000,000

School Nutrition Services Highlights of proposed FY16 Budget Self-supporting for past thirteen years 3% raise and step increase for eligible employees Better than expected FY13 and FY14 FY16 projected use of fund balance - $129,293 Federal free and reduced meal reimbursement rates projected to increase – estimated 1% Students eligible for free and reduced cost meals – 76.56% No meal price increases proposed

Special Revenue Fund Budget appropriation level - $12,969,660 Adopt initial budgets until official allotments come in during FY16 Continue with Race to the Top – merit pay Project Aware added Continue with grant from Griffin-Spalding Hospital Authority helping place a nurse in every school Pre-Kindergarten – full 180 day school year Teachers have 190 day schedule, increased 2 days Transferring $150,000 from General Fund to cover actual cost of operations

Special Purpose Local Option Sales Tax (SPLOST) Final year of SPLOST IV collections Averaging at 100% of projection Current twelve-month rolling average is flat SPLOST V beings July 1 SPLOST V will go into Debt Service Fund and Capital Projects Fund

SPLOST collections

Debt Service Fund Proposed FY16 Budget TBD Will bring to Board for approval

Capital Projects Fund Initial appropriation - $17,749,000 SPLOST IV: Renovation work at Futral Road Elementary, Jackson Road Elementary, Cowan Road Middle, Orrs Elementary, Atkinson Elementary, Elementary Science Enrichment Center SPLOST V: Griffin Region College and Career Academy Bus purchases Audio Enhancement

Summary Balanced budgets for all funds No change in millage rate projected – 19.47 mills same as prior year Full work schedule for all employees Instructional calendar – 180 student days Implement salary study results Longevity step for all eligible employees GRCCA Restore assistant principals at middle school No meal price increases

Timetable to Adoption Tuesday, June 2 Sunday, June 7 Tuesday, June 23 Place budget on first reading at regular BOE meeting Set additional workshops/hearings Sunday, June 7 Advertise budget in local newspaper Tuesday, June 23 Final adoption at regular BOE meeting