1. Vision BCSC Finance 101 Barry Gardner June 15, 2017

2. New Legislation Discussion

3. Authority to Spend……. Ability to Spend……….

4. A Review of School Budgeting
GENERAL
A Review of School Budgeting
DEBT
SERVICE
TRANSPORTATION
CAPITAL
PROJECTS
RAINY
DAY
BUS
REPLACEMENT
PENSION
Salaries
Benefits
Ed. Supplies
Paying
off
Debt
Paying
Teacher
Retirement
Insurance/Utilities
Technology Staff
Annual Repairs
Equipment
Bus
Operations
Buying
New
Buses
One Time
Expenditures
2012Vision BCSC

5. 2017 General Fund Form 3 Advertisements Enrollment
$56,361,674 8,400 Estimate
$52,995,058 8,198
$49,198,627 7,717
$48,972, , $47,501,995 7,411
***Enrollment reflects ADM from previous September Count Day

7. 2016 Tuition Support & Complexity Grant Comparisons
FY 2016 State Tuition Support
Rank
School
Funding Per ADM 1
Gary Middle College (charter school)
$ ,371 54
MSD Wayne Township
$ ,376 85
MSD Pike Township
$ ,077 90
MSD Decatur Township
$ ,051
298
Mill Creek Community School Corporation
$ ,506
312
Plainfield Community School Corporation
$ ,457
318
Danville Community School Corporation
$ ,430
332
Avon Community School Corporation
$ ,373
345
Brownsburg Community School Corporation
$ ,319
349
North West Hendricks Schools
$ ,289
* 365 public and charter schools are receiving funding through the Indiana Department of Education funding formula in State average = $5,877
Source: DOE

9. Future of Debt Service Fund

10. CPF Summary for 2017

11. CPF Summary for 2016

12. Bus Replacement Plan Summary 2018-2029
Recent Bus Replacement Funding
2017 Funding $471,301 (estimate)
2016 Funding $466,127
2015 Funding---$394,650
2014 Funding---$565,559
2013 Funding---$671,744
Dealing with Bus Bubble
Financing vs. Purchasing
Dealing with Additional Growth
Long Range Planning
Levy Cap on Debt Service

14. Property Classification
Property Tax Caps
Property Tax Caps limit a taxpayer’s total property tax liability to a fixed percentage of the properties Gross Assessed Value.
2009 was the first year of implementation was the first year for full implementation of Property Tax Caps.
Data suggests that communities with a higher value of Residential AV are the most impacted by the Property Tax Caps.
Property Classification
2009
Cap Percentage
2010 & Beyond
Residential Homestead
1.5% 1%
Other Residential, Agricultural Land, Long-Term Care
2.5% 2%
All Other
3.5% 3%

15. Tax Cap Example Slide Representative Tax Bill
Town of Brownsburg Example
Gross Assessed Valuation (GAV)
$100,000.00
$150,000.00
$200,000.00
$250,000.00
$300,000.00
Less Homestead Deduction
$45,000.00
Less Supplemental Deduction
$19,250.00
$36,750.00
$54,250.00
$71,750.00
$89,250.00
Less Mortgage Deduction
$3,000.00
Net Assessed Valuation (NAV)
$32,750.00
$65,250.00
$97,750.00
$130,250.00
$162,750.00
Overall Tax Rate
$2.90
Gross Tax Liability
$949.75
$1,892.25
$2,834.75
$3,777.25
$4,719.75
Circuit Breaker Cap - 1%
$1,000.00
$1,500.00
$2,000.00
$2,500.00
Amount Kept by Taxpayer
$0.00
$392.25
$834.75
$1,277.25
$1,719.75

16. 2016 Hendricks County Property Class Breakdown by School District
Avon
Brownsburg
Danville
Mill Creek
Northwest Hendricks
Plainfield
Residential
71.8%
72.0%
62.4%
54.7%
58.6%
37.3%
Agricultural
11.4%
10.9%
21.5%
21.7%
17.7%
9.7%
Ind./Commercial
16.9%
17.2%
16.1%
23.7%
53.0%
 Potential Revenue
 $1,451,101
$1,451,934
$1,537,471
$1,690,353
$1,651,727
$2,156,742

19. Cost Per Student-Five Year Average
Fund
Cost
General
$5,839.97
Debt Service*
$2,516.59
CPF*
$655.65
Transportation*
$432.43
Pension Bonds*
$81.89
Bus Replacement*
$51.19
Avg. Expenditure
$9,577.72
State Aid/Misc. Revenue Avg.
-$5,890.29
Final Cost Per Student
$3,687.43
*Represents Property Tax Funds
Source: BCSC Form 9 Reports

20. Potential Housing Development
50 Homes
40 Students
$3,687 Per Student
Total Cost
$147,480
Home Price
Revenue Per Home
Total Revenue
+/-
Average Per Student
$200,000
$1,060
$53,000
-$94,480
-$2,362
$250,000
$1,325
$66,250
-$81,230
-$2,030
$300,000
$1,590
$79,500
-$67,980
-$1,699
$400,000
$2,120
$106,000
-$41,480
-$1,037
$250,000 x 1%= $2,500
$2,500 x 53% School Share= $1,325
50 Homes x $1,325= $66,250

21. Housing Development Example
50 Home Development 40 New Students 40 Students X $3,687 $147, Homes X $1,325 $66,250 Shortfall Remaining -$81,230 New Business Development Outside TIF ($5,108,775 x 3%) x 53% $81,230 Remaining Shortfall $0
Source: Hendricks County Auditor

22. Bayberry Apartments Example
152 Unit Complex
46 Students X $3, $169,602
Revenue from AV $56,084
($5,291,000 x 2%) x 53%
Shortfall Remaining -$113,518
New Business Development Outside TIF
($7,139,500 x 3%) x 53% $113,518
Remaining Shortfall $0
Source: Hendricks County Auditor

23. Questions and Discussion………