Cedar Rapids Community Schools School Finance Basics Updated:

Certified Enrollment Trends Data Source: Line 7 “Certified Enrollment” Resident Pupils

Open Enrollment Trends* Total losses exceed $13.2 million since inception. *Data Source: FTE of open enrolled resident public students, Annual Certified Enrollment FY 2011: $2 million gap

“District Cost Per Student” State Allowable Growth is 2% for fiscal year FY2012 will be decided in Feb 2011.

Allowable Growth Trends Percent District Cost Fiscal Year Growth Per Pupil %$4, %$4, %$4, %$4, %$4, %$5, %$5, %$5, %$5, %$5,883

What will the District receive in New Money?

Actual Revenues: General Fund Fiscal Year Total General Fund Revenues: $169,980,988 Local Sources State Sources Federal Sources Other Financing Sources

Fiscal Year 2011 Valuation Per Student State Average FY2011: $263,000

Property Tax Valuation Trends *Excludes TIF valuations

District Levy Rate Trends

Tax Levy Comparability Linn County School Districts Fiscal Year Revised

Tax Levy Comparability Urban Education Network Fiscal Year Revised

General Fund Actual Expenditures Fiscal Year

Actual Revenues: All Funds Fiscal Year Total Revenues: $223,636,684

District Actual Revenues: By Source Fiscal Year Total Revenues $223,636,684

Actual Expenditures: All Funds Fiscal Year Total Expenditures: $257,802,811

General Fund Reserve Trends Cash* and Unspent Balance (millions) * Cash is defined as ending “fund balance.” Revised

General Fund Reserve Goal Iowa Schools Cash Anticipatory Program (ISCAP) Solvency Ratio Reserve Goal: To achieve a 8.0%-10% solvency ratio through a balanced budget and continued use of the cash reserve levy. Revised

Historical and Proposed Cash Reserve Levies Total Cash Reserve Levy: $9.7 million Preliminary SBRC FY2011 Cash Reserve Levy Limitation: $29.97 million

Questions ? & Answers