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Published byJane Woods Modified over 9 years ago
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Where’s the Innovation in the School Foundation Formula? Marsha Tangen, Davenport Chief Financial Officer Shawn Synder, LSA Division Administrator Jackie Black, IASB Education Finance Director Galen Howsare, IASB Chief Financial Officer July 20, 2011
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History/Conversations/Changes Finance Formula History LSA highlights from 1971-2010 Legislative Resolutions Committee Discussions initiated June 2011 Possible Proposed Changes Looking forward to legislative priorities
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How Did We Get Here?
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Regular Program District Cost District Cost Per Pupil – FY 2012 $6,058 – Highest (8 Districts) $5,883 – Lowest (175 Districts) $175 – Range (3.0% difference) District cost per pupil increases each year by a per pupil amount (allowable growth per pupil) Minimum district cost per pupil=State cost per pupil Note: this is not the case for the State categorical supplement per pupil amounts
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Allowable Growth History
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Instructional Support Program Established beginning with the 1991-92 school year The maximum amount may be ten percent of the regular program cost Board may adopt for up to 5 years/election held for up to 10 years Funding by property tax/income surtax plus state aid Miscellaneous Income – any general fund purpose In Fiscal 2011 – 341 districts participating
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Instructional Support Program Underfunding history/issues Spending authority
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Property Tax Reform Proposal 2011 Legislative Proposals HSB 240 Property Tax Omnibus Bill HF 697 Omnibus Appropriations Bill H 1752 to SF 533 Senate Amendment
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Property Tax Reform
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Budget Adjustment (Guarantee) Phase-out began in FY 2005 Scale Down Adjustment –will phase out by FY 2014 101.0% Adjustment (will remain in place after phase-out) A factor of enrollment changes and allowable growth rate
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Budget Adjustment FY 2012 Total B.A. $47.715 million (270 districts) Scale Down (20% based on FY 2004 total regular program budget) -$1.117 million (21 districts) 101.0% Adjustment (101% Based on previous year without adjustment - $46.598 million (249 districts)
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Budget Adjustment
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Finance Formula Areas Other areas of consideration Adjust Weightings Dropout Prevention Property Tax Relief/Property Tax Equalization Cash reserve levy change 25% to 20% limit Preschool funding Transportation funding Future direction of discussions
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Questions/Discussion Interested in your feedback
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