Cedar Rapids Community Schools School Finance Basics.

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Presentation transcript:

Cedar Rapids Community Schools School Finance Basics

Certified Enrollment Trends

Open Enrollment Trends* Total losses exceed $11.1 million since inception. *Data Source: FTE of open enrolled resident public students, Annual Certified Enrollment

“District Cost Per Student” State Allowable Growth is 4% for fiscal year but the State will fund only 2% due to State budget cuts.

Allowable Growth Trends Percent District Cost Fiscal Year Growth Per Pupil %$4, %$4, %$4, %$4, %$4, %$4, %$5, %$5, %$5, %$5,768

What will the District receive in New Money?

Actual Revenues: General Fund Fiscal Year Total General Fund Revenues: $162,403,918 Local Sources State Sources Federal Sources Other Financing Sources

Fiscal Year 2009 Valuation Per Student

Property Tax Valuation Trends Growth rate for fiscal 2010: 3.3% Average 10 Year growth rate: 2.3% *Excludes TIF valuations

District Levy Rate Trends

Tax Levy Comparability Linn County School Districts Fiscal Year

Tax Levy Comparability Urban Education Network Fiscal Year

General Fund Actual Expenditures Fiscal Year

Actual Revenues: All Funds Fiscal Year Total Revenues: $211,429,373

District Actual Revenues: By Source Fiscal Year Total Revenues $211,542,499

Actual Expenditures: All Funds Fiscal Year Total Expenditures: $200,421,512

General Fund Reserve Trends Unspent Balance & Cash (millions) Cash 14.3%

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.

Historical and Proposed Cash Reserve Levies

Don’t let anyone stop you from speaking your mind!

Questions ? & Answers