Budget Development Town Hall Meeting DR. TIMOTHY MITCHELL RAPID CITY AREA SCHOOLS 1/8/15
Tonight Discuss Current Fiscal Situation Present a Proposed Plan for reduction and reprioritizing of funds Answer Questions Gather Input
PSA Governor's Proposal 2% Increase (1.5% CPI-W)-see attached $4, Impact: $95.62 per student $1,323,572-new revenue* *if enrollment does not decrease
PSA History *FY 2010-$4, FY 2011-$4, % increase FY 2012-$4, % decrease FY 2013-$4, % increase FY 2014-$4, % increase *FY 2015-$4, % increase FY 2016-$4,876.76*2.0% increase *Proposed
Fiscal Responsibility GF Revenue Trends YearRevenue $77,867, $82,404, $82,060, $79,130, $79,339, $79,036, *$78,602,573*
Enrollment Data
Fund Balance History 2009-$8,890, $14,024,787-ARRA 2011-$14,639, $15,095, $16,775,387* 2014-$13,831, $8,086,490** *Accounting change for utility taxes-required districts to report 2 years of revenue in 2013-one time dollars for next year deposited in May 2013 **Projected based upon Option # 1-next slide
Fund Balance Projection Option # $8,086,4909.6% Spend all $5.7 Mill as budgeted Option # $10,086,49012% Spend $3.7 Mill w/reduction for this year Percentage based upon expenditure levels
Fund Balance Current Budget: $5.7 Mill allocated $2.0 Mill one time expense for $3.7 Mill ongoing deficit spending
What are other schools doing? Increased Enrollment/Increased Assessed Evaluation Opt Out % % additional Spending General Fund Reserve % % Capital Outlay Flexibility % Unique Revenue Sources: Other Revenue- EX: Impact Aid-Small School Factor
Spending Reduction Goals *Balance Revenue with Expenditures *Create Long-Term Stability *Free up Resources for Compensation *Find and Implement any and all areas of Reduction as possible
Final Decision Four Factors Guide Evaluation: Financial Benefit Impact on Student Achievement Political Feasibility Complexity of Implementation
Timeline Town Hall Meetings: January 29-East Middle School 6:30 PM February 5-North Middle School 6:30 PM February 17-Board Action-Rapid City High School 5:30 PM