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South Kitsap School District

South Kitsap School District. 2014-15 Budget Hearing August 5,2014. Introduction. This document summarizes South Kitsap School District’s budget for the 2014-15 schools year (September 1, 2014 through August 31,2015).

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South Kitsap School District

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  1. South Kitsap School District 2014-15 Budget Hearing August 5,2014

  2. Introduction This document summarizes South Kitsap School District’s budget for the 2014-15 schools year (September 1, 2014 through August 31,2015). A public hearing on the budget is being held this evening, Tuesday, August 5,2014 at the District Administrative Office. In compliance with WAC 392-123-054, it is necessary for the Board to conduct a public hearing on the 2014-2015 budget. The budget will be adopted by the South Kitsap School Board on August 18, 2014. The budget is prepared in compliance with state laws and the instructions of the state office of Superintendent of Public instruction. The budget is organized in separate funds, each with its own purpose, sources of revenue and fund balance. These funds are: General Fund - for regular operating costs of the districts Debt Service Fund – for repayment of long-term debt Capital Projects Fund - for building construction and remodeling Transportation Vehicle Fund - for purchase of school buses Associated Student Body Fund - for student activities School district expenditures for each fund cannot exceed the amount approved in the budget unless amended by the school board after public notice and hearing.

  3. Budget Development • Budget Process – Budget Model • Cabinet and Superintendent Identify budget priorities aligned with board goals and vision • Budget Office Identify Budget Capacity by analyzing changes in Revenues and Expenditures. • Departments and Schools Identify and analyze program needs to develop budget requests • Human Resources Identify and hire staff • Cabinet and Superintendent Match Priorities to budget capacity

  4. 2014-15 Fund Summary

  5. 2014-15 General Fund Revenue as Compared to 2013-14

  6. 2014-15 General Fund Expenditures by Object as Compared to 2013-14

  7. Fund Balance Trend * Projected 2013-14 and Budgeted 2014-15

  8. Major Funds 3-Year Budgeted Comparison

  9. Budget Summary– Projected GeneralFund Balance 2014-2015 $ Millions • 2014-15 Beginning Fund Balance $ 8.10 • 2014-15 Budgeted Revenues 97.59 • 2014-15 Budgeted Expenditures 97.22 • 2014-15 Ending Fund Balance $ 8.47 Executive Limitation EL-7 Budget Planning requires a 3.6% committed general fund balance in the amount of $3.3 millionfor the 2014-15 Budget. The current 2014-15 budget draft holds a 5% committed general fund balance in the amount of $4.6 million.

  10. Thank you

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