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School District Revenues. SF101A-School Finance - Revenues. Benny L. Gooden. ASBO. July 9, 2012. Reasons for Attendance. ASBO Certification Credit Personal Knowledge Base Revenue portion of Tier 1 initial training Tier 1 annual update or Tier 2 annual training

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School District Revenues

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School district revenues

School District Revenues

SF101A-School Finance - Revenues

Benny L. Gooden


July 9, 2012

Reasons for attendance

Reasons for Attendance

  • ASBO Certification Credit

  • Personal Knowledge Base

  • Revenue portion of Tier 1 initial training

  • Tier 1 annual update or Tier 2 annual training

  • Professional Interaction with Colleagues

  • To avoid the wrath of the State Board of Education

  • To add excitement to an otherwise dull life

School district revenues

Plan for the Day

  • Sources of Revenue

  • Issues in making projections

  • Revenue Trends

  • Related Issues/Legislative Updates etc.

  • Issues which lead to Trouble

School district revenues

Legal Authority for School District Revenue in Arkansas

  • Constitution of Arkansas (1874 as Amended)

    • Article 14

      § 1. Free school system

      § 2. School fund—use –Purposes

      § 3. School tax—Budget—Approval of tax rate

      Amendments 11, 40 & 74

      § 4. Supervision of schools

School district revenues

Legal Authority…continued

  • Constitutional Amendments

    • Amendment 40—Budget publication/restricted use of school funds

    • Amendment 59—Tax rate rollbacks after reappraisals

    • Amendment 74—25 mill uniform rate of tax

    • Amendment 79—Property tax relief

School district revenues

Selected Statutory Guidelines for School District Finance-

  • Powers & Duties of Board of Directors

    • Attend meetings of school board.

    • Determine mission and direction of district.

    • Adhere to state and federal laws.

    • Enact, enforce and obey policies.

    • Employ staff.

    • Understand and oversee school district finances.

    • Manage facilities.

    • Approve curriculum and ensure that it is taught.

    • Visit district schools and classrooms.

    • Obtain training and professional development.

    • Do “all other things necessary and lawful..”

      § 6-13-620 A.C.A.

Revised 2009

School district revenues

(6)Understand and oversee school district finances required by law to ensure alignment with the school district’s academic and facility needs and goals, including without limitation:

  • (A) Reviewing, adopting and publishing the school district’s budget;

  • (B) Overseeing and monitoring the school district finances, including:

    • Revenues

    • Expenditures

    • Investments

    • Debts

    • Obligations

    • Inventory

    • Real Property

School district revenues

(6)Understand and oversee school district finances ……

  • (C) Borrowing money as necessary, but in no case shall the school board of directors permit the school district to end the fiscal year with a negative legal balance;

  • (D) Entering into contracts for goods and services necessary to operate the school district;

  • (E) Buying, selling, renting, and leasing real property and personal property on behalf of the school district;

  • (F) Receiving, reviewing, and approving each annual financial audit report and presenting it to the public.

School district revenues


Statutory Guidelines…continued

  • Publication of budget--Amt. 40 § 6-13-622

  • Appointment of Treasurer § 6-13-701

  • Deposit of School Funds § 6-20-222

  • Requirements for financial reporting§ 6-20-2103 & § 6-20-2201 et.seq

    Records as required by ADE

  • District debt-current & bond § 6-20-401

    § 6-20-801 et.seq. § 6-20-1201 et.seq.

  • Public School Funding Act § 6-20-2301 et.seq.


School district revenues


Statutory Guidelines..continued

  • Board disbursing officer § 6-13-618

  • Best Financial Practices § 6-15-2301

  • Classified School Employee Minimum Salary Act § 6-17-2203

  • Teacher compensation guidelines § 6-17-2104 and § 6-17-2403

  • Independent Audit deadlines § 6-20-180

  • Training Requirements § 6-20-1805

  • Educational Excellence Trust Funds § 6-5-307

School district revenues

Certifications by SuperintendentTwo of many…..

6 pages

8 pages

X 9

X 9

State revenue local revenue

State RevenueLocal Revenue

Arkansas schools receive more than 90% of resources in these categories.

School district revenues

The Big Question:

School district revenues

Total Revenue

How muchTotal Revenue will your school district receive in 2012-2013?

What effect does Legislative action or changes in local economic conditions have on resources for the coming year?

  • ADM increased or decreased

  • Assessed valuation changed

School district revenues

Guessing is not Preferred

  • Using systematic techniques to develop reasonable and defensible estimates of school revenue…

School district revenues

Why are accurate projections important?

  • To provide a stable fiscal environment

  • To gain the confidence of board of education, staff and community

  • To verify the revenue calculations of others

  • To avoid fiscal distress

All categories of revenue must be considered

All Categories of Revenue Must be Considered

  • Local

  • State

  • Federal

Local revenue

Local Revenue

School district revenues

Factors Determining Local Revenue

  • Assessed Valuation

  • Tax Rate (Millage)

  • Collection Rate

  • Other Local Revenue/Miscellaneous Funds

School district revenues

Assessed Valuation

  • Real PropertyResidentialBusiness/IndustrialAgricultural/Timber


  • Personal PropertyBusinessVehicles/AircraftLivestock

  • Utility Property

School district revenues

Abstract of AssessedValuationSource: County Assessor/Clerk

School district revenues

Current Taxes/

40% 36%Pullback

From Abstract of Assessments

Source: ADE Website

School district revenues

How Does 40% Pullback work in Arkansas school finance?







60% Current

40% Pullback

40% Pullback

60% Current

40% Pullback

60% Current

60% Current

40% Pullback

Ending Soon !!!!!






Each FISCAL year contains: Taxes due and payable in that FY (Current Tax)

Taxes due and payable in the next FY (40% Pullback)

A 40 pullback transition vocabulary

A 40% Pullback Transition Vocabulary

  • Revenue receipts: include local taxes actually collected from July 1-June 30 regardless of assessment year.

  • Deferred: revenues in excess of 40% to which district is entitled for future fiscal year.

  • Accrued: revenues included in the imputed 40% from the future fiscal year, but not actually received.

  • Phase-out: Adjustments made to accrued revenues during a period of up to ten (10) years following June 30, 2012.

Know status

Know status

Defined by § 6-20-401

Transition options to end 40 pullback

Transition options to end 40% Pullback

  • Immediate—Absorb either accrual or deferral revenue in the current year budget.

    Advantage: This makes change in one year.

    Disadvantage: There will be an apparent increase or decrease in the legal fund balance.

  • Phase in—Accrual may be reduced by 10% per year, i.e. 36% in 2011-2012, 32% in 2012-2013, etc.

    Advantage: Effect in one year is minimized.

    Disadvantage: Accounting can become problematic for a number of years.

Revenue estimation after the 40 pullback concept is eliminated

Revenue Estimation after the 40% Pullback Concept is eliminated

  • Look at collection trends from several past years.

  • Determine tax revenue received as current taxes in the July 1-December 30 period.

  • Determine tax revenue received as current taxes in the January 1 – June 30 period.

  • Make estimates based on past history-TRENDS.

  • Consider changes in assessed valuation in estimating for future fiscal year.

During the 40 pullback transition remember

During the 40% Pullback Transition—Remember:

  • The immediate or gradual transition away from 40% pullback does not result in additional revenue—nor does it result in less revenue.

  • The effect is only a matter of timing for the recognition of revenues resulting from ad valorem taxes.

  • This point must be made clear to educators, school board members and the public.

School district revenues

Abstract of Assessment

ADE Certification Signature

ADE Certification Signature

School district revenues

Assessment Abstract Issues

  • Signatures by appropriate officials

  • Accuracy of Data

  • Amendments during the year

If you don’t check it, who will?

School district revenues

Establishing Trend Data

  • Assessed Valuation-by Category

  • Collection RatesCurrent TaxDelinquent Tax

    Amendment 79-Homestead CreditExcess Commissions36%40% Pullback—If Applicable

  • Interest on taxes held by Collector

  • Timing of Revenue Receipts

  • Average Daily Membership (ADM)

School district revenues






Growth in dollars and


5-year averages

School district revenues

Trends are

Influenced by

A variety of



Unusual activity

Appraisal Cycles


School district revenues

Review Trends in Context

  • Past History

  • Environmental Changes

  • Economic Growth or Decline

  • Population Changes

  • Reappraisal Cycles

  • Legislative Action

School district revenues

Assessed Valuation/Tax Rate

  • Verify Assessed Valuation as Certified by County Assessor and Clerk to ADE

  • Verify Tax Rate as Certified by the Quorum Court in accordance with ballot language approved at Annual School Election

  • Verify millage allocation as approved by voters

School district revenues

Other Property Tax Issues

  • Mandatory Reappraisals

    • 3-year vs. 5-year cycle

    • Limits on annual additions to individual property assessments Amendment 79

    • “Frozen” assessments for those 65/over

  • Amendment 59 rollbacks

  • 10 % maximum increase from all sources

School district revenues

Review of Assessed ValuationFrom A Sample District

  • Year 1

    Real $ 94,533,310

    Personal $ 36,722,125

    Utility$ 6,562,305

    Total $ 137,817,740

  • Year 2

    Real $ 83,400,923

    -11,132,387 -11.77%

    Personal $ 48,638,552

    +11,916,427 +32.45%

    Utility $ 7,092,685

    + 530,380 +8.08%

    Total $ 139,132,160

Increase of $ 1,314,420 +.95%

School district revenues

Property Taxes Include:

  • Current Taxes *

  • Amendment 79 Replacement

    Homestead Credit (* Included in both current taxes and 36% pullback)

  • 36% Pullback *

  • Delinquent Taxes

  • Excess Commissions

  • Interest on taxes held by Collector

Ending Soon


All these comprise “Net Revenue”

All used to calculate 98% factor for Foundation Aid

School district revenues

Collection RateDetermination

  • Delinquent Taxes

  • Tax Collector/Treasurer

  • Excess Commissions

  • Assessor

  • Never CollectedTotal Tax – Deductions =Current Tax & 36% Pullback

    • Monitor Property Tax Rebate Payments

Why is

This Important?

Ending Soon

School district revenues

Estimating Collection Rate

1.48%Never Collected


.75%Tax Collector/Treasurer

2.10%Excess Commissions

2.0 %Assessor’s Office

90.18%Current Taxes/36% Pullback

Includes Homestead Rebate

100% Total


Ending Soon

Source: Fort Smith Public Schools

School district revenues

Tax Rate Considerations

  • Timeline for Budget of Expenditures and Proposed Tax Rate Publication

  • 60 days prior to annual school election

  • Multiple County Districts

  • Consolidation/Annexation of Districts

    Multiple rates in merged districts

  • ADE Certification of Bonded Debt Payment and Available Mills

School district revenues

Property Tax Timelines

JulyJan July Jan July




Tax Pmt Deadline

Tax Pmt Deadline



Tax Bills Issued

Tax Bills Issued

School Election

School Election

Fiscal Year

Fiscal Year

Fiscal Year

Year 1

Year 2

School district revenues

Calculation of Revenue:Checking your estimate

  • Assessed Valuation X Millage Rate

    Total Property Tax RevenueX Collection Rate

    Allocated as: Current Taxes 36% Pullback

    Amdt. 79-Homestead Credit Plus:Delinquent TaxesExcess Commissions

    Important: Total must not exceed 100%

    of collection in any year!

Ending Soon

School district revenues

Millage Rates-Schools

  • 25 mills for maintenance and operation(Amendment 74)

  • Additional maintenance and operation(Approved by Voters)

  • Debt Service Mills to pay debt (Approved by Voters)

    Regular bonds/Mandatory Call bonds

  • Dedicated Maintenance and operation(Approved by Voters)

School district revenues

Voted Millage vs. Actual Application- A Sample District

  • Voted Millage

    • 6.90 Debt Service

    • 25.00 M & O

    • N/A Dedicated M & O

    • 31.90 Total

  • Actual Application

    • 6.45 Required Debt

    • 25.45 M & O Avail.

      • 25.00 Amdt 74

      • N/A Ded/M & O

      • .45 Excess Debt

      • 31.90 Total

School district revenues

Property Tax Reminders

  • 36% Pullback is at 100% Collection

  • Delinquent tax, Excess Commissions, Fee Office Costs and taxes not collected are taken from Current Tax Estimates

  • M & O Tax Rate must be 25 mills or higher

    The BEST estimate is one supported by past collection history!

Ending Soon

School district revenues

Other Local Revenue

  • Payments in lieu of Taxes

  • Mineral leases, Severance Tax, etc.

  • Contributions

  • Interest

  • Private, Foundation, Corporate Grants

  • Rentals of district facilities

  • Fees for tuition, services, etc.

  • All Activity Funds *Maintained Separately

  • Vending/beverage contracts

Payments in lieu of taxes

Payments in Lieu of Taxes

  • Act 9 of 1960 authorized issuance of exempt bonds to finance industrial development.

  • Cities and Counties must authorize with notification of affected taxing entities.

  • Payments in lieu of taxes are negotiable.

  • Payments made by financing recipients are distributed by the County Collector.

  • Revenues are included as “miscellaneous funds” for the purpose of Foundation Aid calculations.

School district revenues

Miscellaneous FundsDefined by Act 825 of 2007

Clarified by Act 266 of 2011

  • Federal forest reserves

  • Federal grazing rights

  • Federal mineral rights

  • Federal impact aid

  • Federal flood control

  • Wildlife refuge funds

  • Severance taxes

  • Revenue in lieu of taxes

  • Local sales and use taxes dedicated to Education

§ 6-20-2303

School district revenues

Miscellaneous Funds included in Foundation Aid calculation

  • Average of previous five-years

  • If a district did not receive a category of miscellaneous funds in the previous year, then that category of miscellaneous funds will not be included in the calculation for the next school year.

  • Payments in lieu of taxes only are counted in proportion of URT to total millage rate.

  • Calculations are made annually.

School district revenues

Local Revenue Issues to Cause Insomnia—or Worse

  • Reappraisal of residential property with a decline in value

  • (Re)determination of the reappraisal cycle

  • Litigation regarding gas well values/determination of well values

  • Taxpayer challenges to values

  • Economic impact of recession

  • Tax Increment Financing Districts (TIF)

School district revenues

Local Revenue-Recording

  • Pentamation Reports from Levels II and III

  • Recorded using Revenue Code Series 1xxxx

Refer to Financial Accounting Handbook provided by ADE to secure latest revenue codes. Additional changes may be announced in Commissioner’s Memos.

State revenue

State Revenue

School district revenues

ADE State Aid NoticeSource: Arkansas Department ofEducation

Keep all State Aid Notices for future reference

School district revenues

Revised State Aid Notice

Compare changes to original and ask


School district revenues

State Foundation Aid is a combination of:


Local Funds per student based on local assessed valuation x URT x 98%

$ 2,816

State Funds to bring total aid to

established adequacy level per student

$ 3,451

$ 6,267*

Rate for 2012-2013

School district revenues

Amendment 74Approved in 1996

  • 25 mill Uniform Tax for Maintenance and Operation @ 98% CollectionAssessed Valuation X .025 X 98%

This revenue source should grow 3-4% annually in a normal economic environment as statewide assessed valuations increase. Based on the Arkansas Supreme Court decision, state general revenue can be decreased when URT revenues exceed required funding for “adequacy.”

School district revenues

2012-2013 Foundation Funding per ADM

$ 6,267*

Aid Per Student

The Foundation Aid per Student is not subject to adjustment for fluctuations in state revenue. However a higher amount must be approved by the General Assembly each biennium as “Adequacy” is defined.

School district revenues

State Foundation Aid for each school district is determined by:

  • Legislative Appropriation for Foundation Aid per student—Determined to be “ADEQUATE”

  • Uniform Tax (Amendment 74) Assessed Valuation x 25 mills x 98%

  • 100 % of Miscellaneous Funds (Five-year average)

  • TOTAL÷Prior Year’s ADM (3 quarters)

  • Used to compute Total Aid

School district revenues

2012-2013 Example

Foundation Aid “Adequacy” $ 6,267

AV $139,132,160 X URT .025 X 98%

$ 3,408,737

Miscellaneous Funds $ 73,200


3 Qtr. ADM for prior year 1,236.54

School district revenues

2012-2013 Example…cont.

Total Local Resources $ 3,482,437


Students (ADM) 1,236.54


Adequate Foundation Aid $ 6,267

State Aid per ADM $ 3,451

Total State Foundation Aid ?????

School district revenues

2012-2013 Example…cont.

Total State Aid Per ADM $ 3,451


Prior Year ADM (3 Qtr.) 1,236.54


Total State Foundation Aid $ 4,267,299

Compare local calculations to State Aid Notice. Minor variations will likely result from rounding.

School district revenues

Requirements for Tracking Foundation Aid as it relates to Expenditures

  • A unique Fund/Source of Fund Code is required for the several categories of expenditures paid with Foundation Aid and selected other state funds.

  • Refer to FIN-09-047, FIN-10-008 and FIN-11-080 to clarify coding requirements.

  • The purpose of this distinction is purportedly to determine the actual amount of educational services purchased by the level of state funding determined as “Adequacy”.

School district revenues

Warning Signs

Combinations of:

  • Declines in Average Daily Membership (ADM)

  • Changes in Assessed Valuation

All require individual analysis in each district

School district revenues

Counting Students

  • Enrollment-Represents the number of students eligible to attend at any time.

  • ADA-Average Daily Attendance Represents the average number of students in attendance on each day.

  • ADM-Average Daily Membership Represents the average number of enrolled students in attendance and absent on each day.

Each statistic results in slightly different results in determining resources/expenditure per student

School district revenues

Student Data Calculation

ADA ∑ Days Attended

Days in Session

Average Daily Attendance


∑ (∑ Days Attended)+(∑ Days Absent)

Days in Session



Average Daily Membership

  • Aggregate

  • Cumulative

  • Date Specific

Enrollment =

School district revenues

What about the 98% collection assumption used to compute Foundation Aid?

  • Beginning in 2007-2008 Act 272 of 2007 provides a “guarantee” of funding equal to the 98% collection from local ad valorem taxes as anticipated in the State Foundation Aid formula.

  • Adjustments will be made following calculations of actual collections.

  • Supplemental payments will be made from a Legislative appropriation.

  • Refunds of tax collections in excess of 98% will be required.

  • Act 633 of 2011 modified data collection.

State funding categories unrestricted

State Funding CategoriesUnrestricted

  • Foundation Funding Aid

  • General Facilities Funding

  • Supplemental Millage Incentive Funding

  • Special Needs Isolated Adequacy

  • Declining Enrollment Funding

  • Declining Enrollment Adequacy

  • Student Growth Funding

  • 98% of URT

State funding categories restricted

State Funding CategoriesRestricted

  • Alternative Learning Environment

  • English Language Learners

  • NSL State Categorical Funding

  • NSL Growth Funding

  • Professional Development

  • Bonded Debt Assistance

  • Isolated Funding

  • Special Needs Isolated Funding

  • Special Needs Isolated Transportation

  • Educational Excellence Trust Fund

School district revenues

National School Lunch Students (NSLA)

  • Eligibility for free or reduced-price meals

    • 90% or greater at $1,549 per student

    • 70% but less than 90% at $1,033 per student

    • Less than 70% at $517 per student

Paid in 2012-2013 based on student data from the previous October 1.

  • Consideration for districts with “significant growth”

  • Defined as 1% increase in three successive years.

  • Transition process for increase or decrease--3 years

School district revenues

Alternative Learning Environment (ALE)

  • Based on $4,228 per ADM for FTE students enrolled during the previous school year.

Subject to rules promulgated by the State Board of Education.

School district revenues

Secondary Vocational Center

  • Based on $3,250 per student served during the prior year.

Maybe—Unless the pie is divided into smaller pieces

School district revenues

English-language learner (ELL)

  • Based on $305 per student identified as an English-language learner

  • Proficiency is subject to “state-approved English proficiency assessment instrument”

Subject to rules promulgated by State Board of Education.

School district revenues

Professional Development Funding

  • Based on an amount up to $ 52 per student as determined by the previous school year ADM. ($42.38 in 2011-2012)

Subject to rules promulgated by State Board of Education

School district revenues

Additional Reporting Required for Selected Revenue Sources

  • General Facilities Funding

  • Distance Learning

  • Gifted and Talented

  • Student Growth

  • Declining Enrollment

  • Special Education Catastrophic Occurrences

  • Special Education Services

  • Technology Grants

  • Debt Service funding supplement

6-20-2201 A.C.A.

Spending requirements for categorical funds act 1220 of 2011

Spending Requirements for Categorical Funds Act 1220 of 2011

  • Effective by June 30, 2012

  • At least 85% of NSLA Funds must be spent

  • Transfer authority among categories is granted

  • Commissioner may grant waivers

  • Balance in categorical funds shall not exceed 20% of annual allocation

  • Provisions for 10% annual reduction required

  • Failure to comply results in deduction

Subject to rules promulgated by State Board of Education

School district revenues

Academic Facilities Partnership Funding

  • Requires current local school district facility master plan

  • Establishes standards for maintenance

  • Requires that 9% of Foundation funding be dedicated for facility costs

  • Establishes standards for academic facilities

  • Provides for designation of school districts in “academic facilities distress” with various sanctions and corrective action

  • Provides for state inspections

  • Provides Partnership funding for approved facilities

School district revenues

Academic Facilities Wealth Index Computation Act

Applicable wealth index is based on the value of one mill per student in each school district as determined by total assessed valuation of taxable real, personal and utility property divided by the ADM.

The results for all school districts are ranked from lowest to highest and allocated into percentiles, and assigning the 100th percentile to the district corresponding to the percentile of student millage rankings of 99.5 percentile.

State shares result from subtracting school district’s percentage share from 100% and assuming that districts at or above the 99.5 percentile are at that level.

School district revenues

Student Growth Funding

  • Beginning in 2007-2008 Student Growth Funding is computed on a quarterly basis by comparing each quarter ADM with the three quarter ADM of the preceding year.

  • Payments will be made based on a quarterly computation.

  • Increases based solely on consolidation or annexation are excluded.

  • A final adjustment will be made in the following fiscal year.

  • Overpayments must be refunded.

School district revenues

Declining Enrollment Funding

  • Requires a decline in ADM over the two immediately preceding school years.

  • Funding equals the difference between the average of the two immediately preceding year’s ADM and the ADM for the previous year multiplied by the current year Foundation funding amount.

No district shall receive both declining enrollment funding and student growth funding during the same fiscal year.

School district revenues

Other State Aid Issues

  • Educational Excellence Trust FundIncrease above highest year since 1991 must be used to increase salaries to certified staff including FICA and Teacher Retirement matching

  • Salary Schedule Requirements

  • Required Expenditures in targeted categories

Increases cannot be used for increments based on education or experience in 2005-2006 and thereafter. (Act 2165 of 2005)

School district revenues

State Revenue-Recording

  • Pentamation Reports recorded in Levels II and III reporting

  • Record State revenues using Revenue Code Series 3xxxx

Refer to ADE Handbook for correct code designations. Revisions will be announced through Commissioner’s Memos.

Federal revenue

Federal Revenue

School district revenues

Federal Aid Issues

  • Basic Premise: Federal Aid is categorical and tied to specific programs and purposes. If the Act approved by Congress, CFR language or ADE written interpretations do not authorize a particular use, Federal revenues must be segregated and used as specifically authorized.

School district revenues

Key Federal Items

  • Safeguard signed grant award letter.

  • Account for revenues as directed by ADE with Source of Funds code.

  • Be aware of timing….State FY, Federal FY, carryover provisions.

  • Keep careful records for all employees—especially pro-rated employees paid from Federal funds.

School district revenues

Federal Aid—Recording

  • Pentamation Reports recorded in Levels II and III reporting

  • Record Federal revenues using Revenue Code Series 4xxxx

Refer to ADE Handbook for correct code designations. Additional rules and changes will be announced in Commissioner’s Memos.

School district revenues

Use Available Resources

School district revenues

Resources Include:

  • Arkansas Department of Education

  • Training through Educational Service Cooperatives

  • ADE/Professional Group Listserve(s)

  • County Officials

  • Other School Leaders

  • Auditors

  • Publications

  • ASBO

  • AAEA

School district revenues

Trust, but Verify!

School district revenues

The Best Revenue Estimate is one based on past experience and upon Reasonable Projections!

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