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Woodford County Schools SEEK Funding and Allocation Formula

Woodford County Schools SEEK Funding and Allocation Formula. Sharon Flora Crews University of Kentucky EDA 627: School Finance Summer 2000. SEEK Funding Flowchart SEEK Funding Allocation Formula Flowchart Allocation Formula Needs Assessment Process. Overview.

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Woodford County Schools SEEK Funding and Allocation Formula

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  1. Woodford County Schools SEEK Funding and Allocation Formula Sharon Flora Crews University of Kentucky EDA 627: School Finance Summer 2000

  2. SEEK Funding Flowchart SEEK Funding Allocation Formula Flowchart Allocation Formula Needs Assessment Process Overview • In this presentation, you will learn: • What SEEK funding is and how it is determined • How funding is allocated to the Woodford County District and its schools • How the SBDM Council determines the budget.

  3. SEEK Funding(Support Education Excellence in Kentucky)

  4. Base Allotment • The state guarantees a base amount per pupil. • Each school district’s base funding level is adjusted by the following factors: • Number of at-risk children to be served • Number of exceptional children to be served • Cost of transportation • Number of children who are home-bound or hospitalized

  5. Base Allotment Requirements • The required local amount to participate is $.30/$100.00 of assessed property valuation. • The district may raise revenues through the following taxes: • property • occupational • utility • excise • If the assessed valuation does not generate the base allotment per pupil, the state supplies the difference.

  6. Tier 1 • Districts use Tier 1 if they need additional funds. • The maximum amount that can be raised is 15% of the amount received in the SEEK Base Allotment.

  7. Tier 1 Requirements • The Guaranteed Tax Base for Tier 1 is 150% times the statewide average of taxable property per pupil. • The district raises revenue on its assessed valuation and the state supplies the difference.

  8. Tier 2 • The district may raise another 15% of the Base Allotment. • Voters in the district must approved this referendum. • Tier 2 is strictly local funds--no state funds are provided.

  9. Allocation Formula for Woodford County Schools • Instructions: • These are embedded graphs. • To edit a graph simply double-click anywhere on the graph. • When you’re done editing the graph, click outside of the graph to return to PowerPoint. • Labels above each column are added in PowerPoint.

  10. General Fund • Instructions: • This is an embedded graph. • To edit this graph simply double-click anywhere on the graph. • When you’re done editing the graph, click outside of the graph to return to PowerPoint. • SEEK Fund (state and local revenues) generated through the collection of the following taxes: • property - tangible (real estate, motor vehicle, inventory, equipment, etc.) • utility • occupational • excise on income • Federal and State Grants • Other Revenues

  11. Section 3 FundsAdministrative Expenditures • Instructions: • This is an embedded graph. • To edit this graph simply double-click anywhere on the graph. • When you’re done editing the graph, click outside of the graph to return to PowerPoint. • The District-Wide expenditures are subtracted from the General Fund. • District-Wide Expenditures include the following: Administration Instruction Attendance Health Services Operation of Plant Maintenance of Plant Transportation Fixed Charges School Food Service Community Services Capital Outlay Debt Service Below-the-Line

  12. Categorical Programs • Instructions: • This is an embedded table from Microsoft Word. • To edit this table you need to have Microsoft Word installed on your computer. You do not need to have Word installed to view the table. • To edit this table simply double-click anywhere on the table. When you’re done editing the table, click outside of the table to return to PowerPoint. • Categorical Programs are subtracted from the General Fund. • There are restrictions on use of these funds set by the funding agency/authority. • Federal grant programs include: Title I Title II Title IV Title VI Special Education (Part B) Class-size Reduction Federal Funds for Pre-school Homeless Education • State grant programs include: Extended School Services Gifted and Talented Textbooks Professional Development Bus Driver Training FRYCS School Food Service Kentucky Education Technology System

  13. Allocation Distributed to Simmons Elementary SBDM Council • Instructions: • This is an embedded graph. • To edit this graph simply double-click anywhere on the graph. • When you’re done editing the graph, click outside of the graph to return to PowerPoint.

  14. Section 4 Funds Certified Staff • Instructions: • These are embedded graphs. • To edit a graph simply double-click anywhere on the graph. • When you’re done editing the graph, click outside of the graph to return to PowerPoint. • Labels above each column are added in PowerPoint. • The staffing allocations are based on enrollment. • The allocations must meet class capacity (“cap”) size requirements and other positions generated by staffing policy.

  15. Section 5 FundsClassified Staff • Instructions: • This is an embedded graph. • To edit this graph simply double-click anywhere on the graph. • When you’re done editing the graph, click outside of the graph to return to PowerPoint. • Staffing allocations are based on Woodford County board policy.

  16. Section 6 Funds Instructional Materials • Instructional Material Money is based on the prior year Average Daily Attendance (ADA). • It can only be increased or reduced at the end of the second month of school is ADA changes.

  17. Section 7 FundsRemainder • The balance between the amount generated in Sections 4, 5, and 6 and the amount available for distribution to Simmons SBDM Council comprises the Section 7 Funds. • Section 7 Funds are distributed in one of three ways: • an amount per pupil based on prior year final ADA. • Based on pupil needs that have been identified by the SBDM Council and designated by the Board. • A combination of the two.

  18. Section 9 FundsProfessional Development • Professional Development Funds are allocated by the Superintendent (based on 10th month of enrollment). • At least 65% of the Woodford County district’s per pupil state allocation for professional development must be allocated to the Simmons SBDM Council. • This amount must be included in the March 1 allocation to the Simmons SBDM Council.

  19. Budgeting is a process. Budgeting should begin with needs assessment. A budget is the end result and should be created only AFTER a needs assessment has been completed and the funds have been allocated to the district. Budgets are revisited and revised as student needs change. Budgeting

  20. Needs Assessment Process • All stakeholders should be involved in the following process: • review multiple data sources. • analyze data for causes and contributing factors. • prioritize needs. • identify goals, objectives, and activities. • Set the budget. • SBDM Council approves budget to address the goals.

  21. SEEK Funding and Allocation Formula -The BIG Picture

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