slide1 n.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
MISSOURI’S FOUNDATION FORMULA & JCPS PRELIMINARY BUDGET PowerPoint Presentation
Download Presentation
MISSOURI’S FOUNDATION FORMULA & JCPS PRELIMINARY BUDGET

Loading in 2 Seconds...

play fullscreen
1 / 12

MISSOURI’S FOUNDATION FORMULA & JCPS PRELIMINARY BUDGET - PowerPoint PPT Presentation


  • 118 Views
  • Uploaded on

MISSOURI’S FOUNDATION FORMULA & JCPS PRELIMINARY BUDGET. 1 st Step in School Budgeting. Amend Current Year Budget Most of the budget repeats 77% of Revenues from Property Taxes, Prop C, and Basic Formula 83% of Expenses in Salary and Benefits Then Determine What Will Be Different Next Year.

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'MISSOURI’S FOUNDATION FORMULA & JCPS PRELIMINARY BUDGET' - tilly


Download Now An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
1 st step in school budgeting
1st Step in School Budgeting
  • Amend Current Year Budget
    • Most of the budget repeats
      • 77% of Revenues from Property Taxes, Prop C, and Basic Formula
      • 83% of Expenses in Salary and Benefits
  • Then Determine What Will Be Different Next Year
amended fy13 budget
Amended FY13 Budget
  • Original Budget called for $1,232,000 deficit
    • 24.8% Fund Balance
  • After 3 amendments, currently $870,000 deficit
    • 25.7% Fund Balance
funding formula current state
Funding Formula-Current State
  • Calculated State Adequacy Target
    • FY 12 - $6,131
    • FY 13 - $6,423
    • FY 14 - $6,716
  • No guidance in law on how to handle underfunding once the formula phase-in period ended.
    • Formula fully phased in after FY12
  • General Assembly did not address this last year which left the decision to DESE.
dese ruling on distribution of formula
DESE Ruling on Distribution of Formula
  • Keep SAT at $6,131 until Proration is 100%
    • Calculated SAT $6,423 in FY14
    • All districts get equal percentage increases as proration rises
  • After Proration is 100% then SAT can rise.
  • FY12 Proration = 92.5%
  • FY12-Formula is over $450 million underfunded
wada threshold changes
WADA Threshold Changes

Even though we gained 213 students our WADA count goes down by 13. We will be paid on the prior year. JCPS misses out on over $1,200,000 in funding for those 213 students, if the thresholds did not change

basic formula fy 14
BASIC FORMULA-FY 14
  • Calculated SAT increases over 4.5%
    • $6,716
  • Payment SAT remains at $6,131
  • Governor recommended $66 million increase
  • Moves proration to 95%
  • Because of higher SAT
    • $600 million underfunded
summary
SUMMARY

FEDERAL SEQUESTRATION IS MAJOR REVENUE QUESTIONMARK.

CHANGES MADE IN HEALTH INSURANCE, RETIREMENT, & TRANSPORTATION HAVE BEEN HUGE IN ALLOWING US TO MAINTAIN OUR CURRENT LEVELS OF EDUCATION

DISTRICT’S FISCAL POSITION REMAINS SOLID