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Published byErick Blasdell Modified over 9 years ago
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Red Oak COMMUNITY SCHOOL DISTRICT FY2010 BUDGET HEARING March 30, 2008 - 6:00 P.M. SUE WAGAMAN BOARD ROOM WEBSTER BUILDING
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RED OAK School District Revenue Sources Working Document Prepared by: Terry Schmidt, Superintendent Shirley Maxwell, Board Secretary
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“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
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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:
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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
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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
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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
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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
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Total Spending Authority These numbers are located on section 17 of the Aid & Levy Worksheet
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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
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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
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Operating Fund Revenues by Source
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Property Tax Levy for the 2009-2010 Budget
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FY 2009-2010 Property Tax Levy
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LEVY RATE HISTORY
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Cash Balance vs Cash Reserve Levy
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CASH BALANCE VS UNSPENT BALANCE
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FINANCIAL SOLVENCY RATIO Unreserved,Undesignated General Fund Balance Actual Revenues
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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
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MOTION NEEDED Motion to approve the 2009-2010 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 $ 18,832,190 2009-2010 Property Tax Rate = $16.20
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