2014 budget power point 1.final

Noblesville Schools2014 BUDGET PRESENTATION

Budget - A systematic plan for the expenditure of a usually fixed resource, such as money, during a given period. The total sum of money allocated for a particular purpose.

2014 BUDGET General Fund

Operating Referendum Fund

Debt Service Funds – (2)

Capital Projects Fund

Transportation Operating Fund

Bus Replacement Fund

Rainy Day Fund

Noblesville SchoolsBudget Preparation

Noblesville Schools

2014 Budget Presentation

2014 BUDGET

General Fund $ 60,847,180

58.60%

Debt Service Funds – Exempt / Non-Exempt

$ 19,325,164

18.61%

Capital Projects Fund $ 8,815,118

8.49%

Referendum Operating Fund $ 6,786,068

6.54%

Transportation Operating Fund $ 5,200,480

5.01%

Bus Replacement Fund $ 1,530,000

1.47%

Rainy Day Fund $ 1,325,350

1.28%

Total $ 103,829,36

0

100.00%

Noblesville Schools2014 Budget Presentation

STATE SUPPORTED FUND

General Fund

Required By I.C. 20-40-2

(Accounting for all receipts and disbursements for current

operating purposes excluding student transportation.)


General Fund - Sources of Revenue

State Funding Formula – Based on Student Enrollment

Kindergarten Grant – Based on Student Enrollment

Summer School Funding - Reimbursement

Investment Earnings – Interest Income

Facility - Rental Income


Source of Revenue2014

Estimate Percentage

State Funding Formula $ 55,236,256 98.700%

Summer School Reimbursement $ 225,000 0.4020%

Investment Income $ 30,000 0.0536%

Facility Rental $ 75,000 0.1340%

Student Fees & Miscellaneous $ 400,022 0.7148%

Totals $ 55,966,278 100.00%

General Fund Estimated Revenues

2013 2014 Inc./Dec. %

1. Tuition Support $45,007,369

$47,976,424

2. Academic Honors 196,200 218,000

3. Special Education 4,811,738 4,811,738

4. Voc. Education 325,550 325,550

5. Full Day Kindergarten 1,920,000 1,904,544

6. Prime Time 1,365,056 0

Net State Support $53,625,913

$55,236,256

$1,610,343

3.00%


Funding Comparison – 185 Additional Students

2013 – 2014 Actual 9,354.5 1852012 – 2013 Actual 9,170.0 1622011 – 2012 Actual 9,008.0 2062010 – 2011 Actual 8,802.0 1882009 – 2010 Actual 8,613.5 2552008 – 2009 Actual 8,358.5 1862007 – 2008 Actual 8,172.0 2442006 – 2007 Actual 7,928.0 485

2.05%1.84%2.39%2.19%3.05%2.28%3.08%6.52%


Student Enrollment – ADM (Average Daily Member.)

2008 2009 2010 2011 2012 20137800800082008400860088009000920094009600

8358.5

8613.58802

90089170

9354.5

5 Year Growth in ADM – 996 Students (11.92%)


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 20130

100020003000400050006000700080009000

10000

6,863

9,355

10 Year Growth in ADM – 2,492 Students (36.3%)


Noblesville Schools

Academic Achievement, 81%

Std Inst Support, 7%Overhead,12%

General Fund Budget $60,847,180


Noblesville Schools

Salaries Benefits Purch Serv

Supplies Other 0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%68.5%

22.5%

4.5% 4.2%0.3%

General Fund Budget $60,847,180


Local Tax Supported Funds

Debt Service Fund




Referendum Operating Fund

Referendum Debt Exempt Capital Fund

Noblesville Schools2014 Budget Preparation


Impacting 2014 Tax Supported Funds

Net Assessed Valuations – Real & Personal Property

Circuit Breaker Loss – Tax Caps


Property Tax Assessed ValuationBudget

YearNet Assessed

ValuationPercentage

Increase

2014 – Est. $ 2,470,062,500 1.00%

2013 $ 2,445,606,389 0.18%

2012 $ 2,441,132,994 1.89%

2011 $ 2,395,761,297 1.36%

2010 $ 2,363,595,005 1.03%

2009 $ 2,339,534,508 (19.39%)

2009 2010 2011 2012 2013 2014 2,250,000,000

2,300,000,000

2,350,000,000

2,400,000,000

2,450,000,000

2,500,000,000

1.3%

1.36%

1.89% 0.18%

1.0%


5 Year Growth in A.V. – (5.73% vs. 11.92% Std)


Fund Advertised Tax Levy

Circuit Breaker

Loss - (2013)

Debt Service Fund $ 16,057,297 $ 2,232,548

Capital Projects Fund $ 7,838,522 $ 1,089,840

Transp. Operating Fund $ 4,634,628 $ 644,382

Bus Replacement Fund $ 1,191,708 $ 165,690

Referendum Operating Fund $ 6,303,917 Not Applicable

Referendum Capital Debt Fund $ 5,185,163 Not Applicable

Totals $ 41,211,235 $ 4,132,460

Circuit Breaker Loss – Tax Caps


Budget Year Levy

CircuitBreaker

NetLevy

CircuitBreaker %

2010$

26,408,447$ 3,046,504 $

23,361,943 11.5%

2011$

26,571,388$ 3,260,916 $

23,310,472 12.3%

2012$

26,166,505$ 3,663,360 $

22,503,145 14.0%

2013$

27,603,560$ 4,132,460 $

23,471,100 15.0%

Totals $ 106,749,900

$ 14,103,240

$ 92,646,660 13.2%

Circuit Breaker - History


Debt Service Fund








Debt Service Funds - $19,325,164 Budget

NHS Ref Cap WMS NC WR MS-GO EMS NE Temp Ln

Txt BK0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%31.8%

23.1%21.2%

7.5%6.2%4.5% 3.3%1.8%

0.5%0.1%

-

5,000,000

10,000,000

15,000,000

20,000,000

25,000,000

17.6

19.7 19.9

18.6

11.7

11.1 11.8 12.1

6.9

4.2

High SchoolNorth Elm

West M.S.Noble Cross-ing

White River Elm

East M.S.


Debt Service Funds – Payment Amortization


Debt Service Fund








Capital Projects - Funding Concerns

Funding Technology:

Student Population Increasing - 11.92% in 5 YearsOne–To–One Implementation

Maintaining Facilities:

Additional 200,000 Square Feet in Past 3 Years – 10% Increase

Revenue Shortfall:

Revenue Flat Lined Over Past 5 Years

2005 2006 2007 2008 2009 2010 2011 2012 2013 -

1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 6,000,000 7,000,000 8,000,000 9,000,000

10,000,000

6.0

6.8

7.1

8.7

6.1

6.3

5.9 5.4

5.9


Capital Projects Fund – Tax Levy Revenue


Program Budget %Technology – Equipment & Ser. $ 3,226,000 36.6%

Land Acquisition & Prof. Services $ 750,000 8.5%

Utilities & Property Insurance $ 1,342,193

15.2%

Maintenance of Facilities / Rental $ 1,039,750 11.8%

Maintenance of Equip. $ 807,300 9.2%

Purchase of Equip. $ 695,000 7.9%

Installment Contracts $ 304,875 3.6%

Sports Facilities / Other $ 650,000 7.3%

Capital Projects Fund – $8,815,118


Debt Service Fund







Admin.7.3%

Vehicle Oper. 56.5%

Monitor-ing Ser.

9.2%

Training0.5%

Vehicle Maint. 25.4%

Insur.1.7%

Con-tract

Ser,0.2%


Transportation Fund - $5,200,480



Replacement Budget $1,530,000


2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 $-

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

$1,530,000 $1,501,200

$147,300

$2,654,400

$2,152,600

$1,600,000 $1,572,000

$730,800

$1,183,600

$1,479,000

$1,166,000

$1,004,000

Bus Replacement Schedule – By Annual Cost


Debt Service Fund







Aca-demic

Achievement

75.90%

Std Inst Support9.28%

Over-head

14.82%


Operating Referendum Fund - $6,786,068


Program Budget %

Transportation Operational Cost

$ 825,350 62.3%

Capital Expenditures $ 500,000

37.7%

Totals $ 1,325,350

100.0%

Rainy Day Fund


FundAssessed

Value Adv. Levy Est. Levy

Non-Exempt Debt $ 2,470,062,453 $ 16,057,297

$ 16,057,297

Capital Projects $ 2,470,062,453 $ 7,838,522

$ 7,266,265

Transportation Oper. $ 2,470,062,453 $ 4,634,628

$ 4,365,706

Bus Replacement $ 2,470,062,453 $ 1,191,708

$ 991,131

Referendum Oper. $ 2,711,562,453

$ 6,303,917

$ 5,814,265

Exempt Debt $ 2,711,562,453 $ 5,185,163

$ 5,185,163

Totals $ 41,211,235

$ 39,679,830

Property Tax Levies


Fund2013Actual

2014 Advertised

2014 Projected

Total Tax Levy $ 36,456,491

$ 41,211,235

$ 39,679,830

Assessed Valuation $ 2,445,606,389

$ 2,470,062,453

$ 2,484,192,919

Change In A.V. 1.00% 1.578%

Tax Rate $ 1.4584 $ 1.6269 $ 1.5546

Property Tax Levies

Updated Values – Oct. 7th AmountProjected A.V. Increase of 1.578% $ 2,484,192,919

Additional TIF A.V. $ 264,868,467


Additional Consideration For 2014

Tax Anticipation Warrants


Budget Adoption Meeting

October 29, 2013

Noblesville Schools

SUMMARY COMMENTS

Student EnrollmentConsistent Growth Averaging 2.4% Over 5 Years

Property Tax Assessed ValuationModest Positive Growth Averaging 1.2% Over 5 Years

Increasing Operational CostStudent Growth Exceeding Assessed Valuation Growth

Circuit Breaker / Tax CapsFlat Lining Local Property Tax Revenue

2014 budget power point 1.final

Business

general fund budget

transportation operating

capital projects fund

general fund sources

rainy day fund

student transportation

net state support

budget year net