SUCCESSFULLY PREPARING ALL STUDENTS FOR THEIR FUTURES SE 256 TH STREET, KENT, WA | BUDGET Public Hearing and Budget Adoption Ralph Fortunato, CSBS Director of Fiscal Services August 27, 2014

SUCCESSFULLY PREPARING ALL STUDENTS FOR THEIR FUTURES SE 256 TH STREET, KENT, WA | SCHOOL DISTRICT BUDGET SLIDE 2 There are 5 distinct funds in the budget…  General Fund-provides for the daily operations of the school district  Capital Project Fund-receives bond sale/state match revenue for school construction and technology levy revenue for technology program  Debt Service Fund-receives tax collections sufficient to pay back or “service”the principal and interest from bonds approved by the board and/or the voters  Transportation Vehicle Fund-receives state depreciation revenue for purchase of busses; all driver pay, fuel, repairs, etc. is paid from the General Fund  ASB Fund-accounts for all revenue and expenditures made by the schools’ Associated Student Body activities

SUCCESSFULLY PREPARING ALL STUDENTS FOR THEIR FUTURES SE 256 TH STREET, KENT, WA | BUDGET ADOPTION PROCESS SLIDE 3 By law, all school districts in Washington must formally adopt a budget by August 31 st of each year All school systems must use the same format (F-195); The formal approval of the budget is by Board Resolution The Board, upon passage of the resolution, is approving the amount of authorized expenditures for each fund School districts may not expend greater than the original authorized expenditure amount without a budget extension, approved by Board resolution.

SUCCESSFULLY PREPARING ALL STUDENTS FOR THEIR FUTURES SE 256 TH STREET, KENT, WA | KENT SCHOOL DISTRICT BUDGET SUMMARY SLIDE 4

SUCCESSFULLY PREPARING ALL STUDENTS FOR THEIR FUTURES SE 256 TH STREET, KENT, WA | SLIDE 5 Kent School District Budget Summary

SUCCESSFULLY PREPARING ALL STUDENTS FOR THEIR FUTURES SE 256 TH STREET, KENT, WA | SLIDE 6 General Fund

SUCCESSFULLY PREPARING ALL STUDENTS FOR THEIR FUTURES SE 256 TH STREET, KENT, WA | GENERAL FUND ESTIMATE SLIDE 7

SUCCESSFULLY PREPARING ALL STUDENTS FOR THEIR FUTURES SE 256 TH STREET, KENT, WA | GENERAL FUND SLIDE 8

SUCCESSFULLY PREPARING ALL STUDENTS FOR THEIR FUTURES SE 256 TH STREET, KENT, WA | GENERAL FUND SLIDE 9

SUCCESSFULLY PREPARING ALL STUDENTS FOR THEIR FUTURES SE 256 TH STREET, KENT, WA | GENERAL FUND ENROLLMENT SLIDE 10

SUCCESSFULLY PREPARING ALL STUDENTS FOR THEIR FUTURES SE 256 TH STREET, KENT, WA | GENERAL FUND STAFFING SLIDE 11

SUCCESSFULLY PREPARING ALL STUDENTS FOR THEIR FUTURES SE 256 TH STREET, KENT, WA | GENERAL FUND REVENUES SLIDE 12

SUCCESSFULLY PREPARING ALL STUDENTS FOR THEIR FUTURES SE 256 TH STREET, KENT, WA | GENERAL FUND REVENUES SLIDE 13

SUCCESSFULLY PREPARING ALL STUDENTS FOR THEIR FUTURES SE 256 TH STREET, KENT, WA | GENERAL FUND EXPENDITURES SLIDE 14

SUCCESSFULLY PREPARING ALL STUDENTS FOR THEIR FUTURES SE 256 TH STREET, KENT, WA | SLIDE 15 GENERAL FUND EXPENDITURES: BY ACTIVITY

SUCCESSFULLY PREPARING ALL STUDENTS FOR THEIR FUTURES SE 256 TH STREET, KENT, WA | GENERAL FUND EXPENDITURES: BY OBJECT SLIDE 16

SUCCESSFULLY PREPARING ALL STUDENTS FOR THEIR FUTURES SE 256 TH STREET, KENT, WA | GENERAL FUND ENDING FUND BALANCES TO SLIDE 17

SUCCESSFULLY PREPARING ALL STUDENTS FOR THEIR FUTURES SE 256 TH STREET, KENT, WA | GENERAL FUND PROJECTIONS TO SLIDE 18

SUCCESSFULLY PREPARING ALL STUDENTS FOR THEIR FUTURES SE 256 TH STREET, KENT, WA | OTHER FUNDS SLIDE 19

SUCCESSFULLY PREPARING ALL STUDENTS FOR THEIR FUTURES SE 256 TH STREET, KENT, WA | CAPITAL PROJECTS FUND SLIDE 20

SUCCESSFULLY PREPARING ALL STUDENTS FOR THEIR FUTURES SE 256 TH STREET, KENT, WA | CAPITAL PROJECT FUND SLIDE 21

SUCCESSFULLY PREPARING ALL STUDENTS FOR THEIR FUTURES SE 256 TH STREET, KENT, WA | CAPITAL PROJECT FUND SLIDE 22

SUCCESSFULLY PREPARING ALL STUDENTS FOR THEIR FUTURES SE 256 TH STREET, KENT, WA | CAPITAL PROJECT FUND SLIDE 23

SUCCESSFULLY PREPARING ALL STUDENTS FOR THEIR FUTURES SE 256 TH STREET, KENT, WA | DEBT SERVICE FUND SLIDE 24

SUCCESSFULLY PREPARING ALL STUDENTS FOR THEIR FUTURES SE 256 TH STREET, KENT, WA | ASB FUND SLIDE 25

SUCCESSFULLY PREPARING ALL STUDENTS FOR THEIR FUTURES SE 256 TH STREET, KENT, WA | TRANSPORTATION VEHICLE FUND SLIDE 26

SUCCESSFULLY PREPARING ALL STUDENTS FOR THEIR FUTURES SE 256 TH STREET, KENT, WA | LEVY AMOUNTS SLIDE 27

SUCCESSFULLY PREPARING ALL STUDENTS FOR THEIR FUTURES SE 256 TH STREET, KENT, WA | KENT SCHOOL DISTRICT BUDGET SUMMARY SLIDE 28

SUCCESSFULLY PREPARING ALL STUDENTS FOR THEIR FUTURES SE 256 TH STREET, KENT, WA | NEXT STEPS:  Formal Adoption of budget August 27, 2014  Monitor start of school for enrollment and staffing  Close fiscal year and produce Annual Financial Report (F-196) by October 25, 2014  Monitor 2015 legislative sessions (state funding) and federal reauthorizations for possible budget revisions  Determine priorities for budget SLIDE 29

SUCCESSFULLY PREPARING ALL STUDENTS FOR THEIR FUTURES SE 256 TH STREET, KENT, WA | Questions/Comments SLIDE 30