Red Oak COMMUNITY SCHOOL DISTRICT FY2010 BUDGET HEARING March 30, :00 P.M. SUE WAGAMAN BOARD ROOM WEBSTER BUILDING

RED OAK School District Revenue Sources Working Document Prepared by: Terry Schmidt, Superintendent Shirley Maxwell, Board Secretary

“Red Oak School District’s General Operating Fund Budget is Substantially Influenced in Terms of Total Budget Authorization and Funding Components by Iowa Statutes.” Iowa Statutes

Maximum Authorized Budget The Red Oak School District’s Maximum Authorized Budget for General Fund Expenditures, Also Known as Total Spending Authority (“TSA”) is Calculated as Follows:

Combined District Cost (CDC) n Formula Driven n Weighted Enrollment x District Cost Per Pupil as Determined by State n Aid & Levy Worksheet Calculates Formula

Miscellaneous Income n From Federal, State & Local Sources n Many Sources are Categorical or Restricted Purpose Funds n Varies According to Sources & Levels of Funding n Everything excluding Prop Tax, State Aid, and At Risk

Examples of Miscellaneous Income n Non-CDC General Fund Revenue n Federal & Phase Monies n Transportation Reimbursement n Educational Improvement Enrichment, Asbestos Program n State Grants n Interest n ISCAP Investment Surplus n SBRC Additional Allowable Growth n Student Fees n Rental n Open Enrollment & Tuition

Total Spending Authority n Limits $$$ School District Can Spend n Represents Legal or Statutory Budget Limit n Unused TSA Carries Over to Next Year as Unspent Balance n Overspending TSA is Violation of Statutory Authority n Unspent Balance is not Cash n Unspent Balance = Unused TSA

Total Spending Authority These numbers are located on section 17 of the Aid & Levy Worksheet

Board Directed Programs & Levies General Fund n 5 Year Instructional Support Program n Dropout Program n Cash Reserve Levy Special Revenue Funds n 33¢ Physical Plant & Equipment Levy n Management Levy

Voter Directed Programs & Levies General Fund n 10 Yr. Instructional Support Program Special Revenue Funds n $1.34 Physical Plant & Equipment Levy n Playground Levy n Debt Levies n Local Option Sales and Service Tax

Operating Fund Revenues by Source

Property Tax Levy for the Budget

FY Property Tax Levy

LEVY RATE HISTORY

Cash Balance vs Cash Reserve Levy

CASH BALANCE VS UNSPENT BALANCE

FINANCIAL SOLVENCY RATIO Unreserved,Undesignated General Fund Balance Actual Revenues

SOLVENCY RATIO l ACCEPTABLE SOLVENCY POSITION 0 TO 4.99% l TARGET SOLVENCY POSITION 5 TO 10% l SOLVENCY ALERT -3 TO 0% l SOLVENCY CONCERN l -3% & LOWER

MOTION NEEDED Motion to approve the Budget as presented: General Fund $13,403,774 Management $ 474,500 PPEL $ 1,443,143 Activity $ 478,033 Capital Projects $ 1,244,237 Debt Service $ 806,140 Nutrition $ 966,408 Other Enterprise $ 15,955 TOTAL $ 18,832, Property Tax Rate = $16.20