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VCS Budget Presentation. Viking University March 10, 2011 Thomas Jefferson Middle School. 2011 Budget. General Fund $37,029,698 Debt Service $9,021,392 Pension Debt $1,631,724 Capital Projects $6,344,981 Transportation $3,660,927 Bus Replacement $319,931

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VCS Budget Presentation

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Vcs budget presentation

VCS Budget Presentation

Viking University

March 10, 2011

Thomas Jefferson Middle School


2011 budget

2011 Budget

  • General Fund$37,029,698

  • Debt Service$9,021,392

  • Pension Debt $1,631,724

  • Capital Projects $6,344,981

  • Transportation $3,660,927

  • Bus Replacement$319,931

  • Total $58,010,664


Sources of funding

Sources of Funding

Primary (>90%) Secondary

General FundState Support Fees, Rentals, Tuition

Debt ServiceLocal Property Tax Excise Tax from state

Pension Debt Local Property Tax Excise Tax from state

CPF Local Property Tax Excise Tax from state

Transportation Local Property Tax Excise Tax from state

Bus ReplacementLocal Property Tax Excise Tax from state


Use of general fund

Use of General Fund

Use % of Budget

Salaries and Benefits 86%

Overhead (Utilities, Property

Insurance, etc.) 4.0%

Payments to Inter-local (Special Ed,

Alternative, Vocational) 7.6%

Instructional Supplies 1.8%

Professional Development,

Maintenance, etc. 0.6% 100.0%


Use of debt service fund

Use of Debt Service Fund

Use % of Budget

Lease Rental Payments

and Interest 99.6%

Temporary Loan Interest 0.4%

100.0%


Use of pension debt fund

Use of Pension Debt Fund

Use % of Budget

Pension Bond Principal and

Interest Payments 100%


Use of capital projects fund

Use of Capital Projects Fund

Use % of Budget

Technology 22.3%

Inter-local, Vocational, and

Alternative Rental Payments 12.6%

Capital Improvements and

equipment purchase/lease 65.1%

100.0%


Use of transportation fund

Use of Transportation Fund

Use % of Budget

Salaries and Benefits 62%

Parts, supplies, fuel,

maintenance 38%

100%


Use of bus replacement fund

Use of Bus Replacement Fund

Use% of Budget

Purchase of school buses 100%


Rainy day fund

Rainy Day Fund

Funded mainly through unexpended funds in

CPF and Transportation Funds

Providestemporary safety net

Healthier than most schools in the state

Fund Balances Ending:

2008 $1,542,508

2009 $3,550,826

2010 $5,998,593


Projected uses of rainy day fund

Projected uses of Rainy Day Fund

2011

Fund Early Retirement Incentive

Use as operating reserve (cash balance) for General Fund

Maintain at least $4 million on hand

2012 and 2013

Use as operating reserve (cash balance) for General Fund

Maintain at least $4 million on hand


General fund challenges

General Fund Challenges

GF Expenditure Amt. of Decrease % Decrease

  • $40, 154,369

  • $38,643,539$(1,510,830)3.76%

    2011 $37,500,000$(1,143,539)2.96%


Challenges for 2012 and 2013

Challenges for 2012 and 2013

Vouchers

Charter School Funding

Transportation Funding for Charter Schools

De-ghoster

Balance General Fund Budget


Questions

Questions


Tax rates

Tax Rates

  • General:          0.0000

  • Debt Service:0.3878

  • Pension Debt:0.0628

  • CPF:0.2089

  • Transportation:0.1433

  • Bus Replacement:0.0130

  • Total:0.8158


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