FY  2013-­‐14  BudgetFY  2012-­‐13  Final  Budget

Canyons  School  DistrictJune  18,  2013

Agenda| Declare  opening  of  public  hearing  of  FY  2012-­‐13  Final  

Budget  and  the  FY  2013-­‐14  Budget

| Staff  presentaDon  of  budgets

| Allow  public  comment

| Close  public  hearing

| Board  discussion

| Adopt  FY  2012-­‐13  Final  Budget  &  FY  2013-­‐14  Budget

Final  Budget  FY  2012-­‐13

FY  2012-­‐13  Final  Budget(All  Funds)

FY  2012-­‐13  Original

FY  2012-­‐13  Final Change

Revenue $310,952,000 $317,315,000 $6,363,000

Expenditures 400,846,000 432,918,000 32,072,000

Excess(Deficit) ($89,894,000) ($115,603,000) ($25,709,000)

FY  2012-­‐13  Final  BudgetRevenues

FY  2012-­‐13  Original

FY  2012-­‐13  Final Change

General  Fund $214,585,000 $218,807,000 $4,222,000

Capital  Fund 22,640,000 23,302,000 662,000

Non  K-­‐12  Fund 6,593,000 7,011,000 418,000

District  AcDvity  Fund 7,952,000 8,100,000 148,000

FY  2012-­‐13  Final  BudgetExpenditures

FY  2012-­‐13  Original

FY  2012-­‐13  Final Change

General  Fund $217,338,000 $220,608,000 $3,270,000

Capital  Fund 99,731,000 128,857,000 29,126,000

Non  K-­‐12  Fund 6,930,000 7,321,000 391,000

District  AcDvity  Fund 7,859,000 8,181,000 322,000

Summary  of  Changes| General  Fund

{ $1.7  million  from  FY12  unspent  school  supplies,  textbooks,  equipment,  etc.  Added  to  FY  13  school  budgets

{ $0.9  million  in  Early  ReDrement  IncenDve

| Capital  Fund{ $10.4  million  land  purchases

{ $19.9  million  in  FY  13  bond  projects  expense  (note:the  projects  are  NOT  over  budget  just  more  construcDon  and  FF&E  purchases  occurred  in  FY  13  than  projected).

7

FY  2013-­‐14  Budget

8

FY  2013-­‐14  BudgetRevenues Expenditures Excess/(Deficit)

General  Fund $220,530,000 $223,286,000 ($2,756,000)

Capital  Fund 24,271,000 50,076,000 (25,805,000)

Debt  Service  Fund 24,542,000 28,731,000 (4,189,000)

NutriDon  Fund 11,823,000 13,182,000 (1,359,000)

Non  K-­‐12  Fund 7,151,000 7,372,000 (221,000)

District  AcDvity  Fund 8,468,000 8,287,000 181,000

Canyons  FoundaDon  Fund 413,000 664,000 (251,000)

Employee  Insurance  Fund 23,496,000 26,516,000 (3,020,000)

Total  All  Funds $320,694,000 $358,114,000 ($37,420,000)

10

!$198!! !$200!!

!$211!!

!$190!!!$197!!

!$204!!

!$170!!

!$180!!

!$190!!

!$200!!

!$210!!

!$220!!

2010! 2011! 2012!

Millions!

General!Fund!!Expenditures!

Final!Budget!(Exps)! Actuals!(Exps)!

11

!$(2)!

!$6!!

!$(1)!

!$5!!

!$10!!

!$5!!

!$(5)!

!$&!!!!

!$5!!

!$10!!

!$15!!

2010! 2011! 2012!

Millions!

General!Fund!!Excess/(Deficit)!

Final!Budget! Actual!

12*Budgeted  Amounts

!$195!!

!$208!! !$210!!

!$219!! !$221!!

!$190!!

!$197!!

!$204!!

!$221!!!$223!!

!$170!!

!$180!!

!$190!!

!$200!!

!$210!!

!$220!!

!$230!!

2010! 2011! 2012! 2013*! 2014*!

Millions!

General!Fund!!Revenue!v.!Expenditures!

Revenues! Expenditures!

CerOfied  Tax  Rate  Value2012-­‐13

2012  Value $13,439,102,588

2013  Value 14,015,663,114

Change $576,560,526

Percentage  Change 4.29%

CerOfied  Tax  Rate  Value

14

!$15,464!!

!$13,949!!!$13,717!!

!$13,439!!

!$14,016!!

(9.80%)!

(1.66%)!(2.03%)!

4.29%!

(12.00%)!

(10.00%)!

(8.00%)!

(6.00%)!

(4.00%)!

(2.00%)!

0.00%!

2.00%!

4.00%!

6.00%!

!$12,000!!

!$12,500!!

!$13,000!!

!$13,500!!

!$14,000!!

!$14,500!!

!$15,000!!

!$15,500!!

!$16,000!!

2010! 2011! 2012! 2013!

Percen

t'Cha

nge'

Cer,fie

d'Tax'Ra

te'Value

'

Millions'

Tax'Year'

Tax  Levies2012-­‐13 2013-­‐14 Change

Basic  State 0.001651 0.001691 0.000040

Board  Local 0.001881 0.001729 (0.000152)

Voted  Leeway 0.001600 0.001600 0.000000

Capital  Outlay 0.001067 0.001055 (0.000012)

Capital  EqualizaDon 0.000600 0.000600 0.000000

Debt  Service 0.001619 0.001619 0.000000

Total  All  Levies 0.008418 0.008294 (0.000124)

Cer5fied  Tax  Rate

16

Property  Value CerDfied  Tax  Rate

Revenue  received  by  theDistrict  remains  the  same

Cer5fied  Tax  Value  v.  Tax  Rate

17

!0.006400!!

!0.006600!!

!0.006800!!

!0.007000!!

!0.007200!!

!0.007400!!

!0.007600!!

!0.007800!!

!0.008000!!

!0.008200!!

!0.008400!!

!0.008600!!

!$12,000!!

!$12,500!!

!$13,000!!

!$13,500!!

!$14,000!!

!$14,500!!

!$15,000!!

!$15,500!!

!$16,000!!

2009! 2010! 2011! 2012! 2013!

Millions'

Cer2fied!Tax!Rate!Value! Tax!Rate!

Effect  on  Homeowner  for  Every  $100,000  of  Assessed  Value

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2012-­‐13 2013-­‐14 $  Change %  Change

$100K  Appraised  Value

$100,000 $100,000 $0 0.00%

Primary  Home  ExempDon

(45,000) (45,000) 0 0.00%

Taxable  Value $55,000 $55,000 $0 0.00%

Tax  Rate 0.008418 0.008294 (0.000124) (1.47%)

Taxes  Due $462.99 $456.17 ($6.82) (1.47%)

Employee  CompensaOon| Fund  Steps  &  Lanes  for  cerDfied  employees  &  steps  

for  administraDve  employees

| 0.5%  COLA  for  licensed  &  administraDve  employees

| Licensed-­‐decreased  employee  share  of  insurance  premium  effecDve  January  1,  2014.  Employee  will  now  pay  28.6%  of  premium  rather  than  33.0%

19

Included  in  Budget| Fund  9%  URS  contribuDon  increase  ($1.9  million)

| 2  secondary  achievement  coaches

| 1  educaDon  technology  specialist

| 9  teachers  for  grade  reconfiguraDon

| 1  bus  mechanic

| $1  million  for  under  mileage  bus  routes

| Expand  AVID  at  Mt.  Jordan  MS20

General  Fund  Revenue

21

Property  Taxes34.9%

State  -­‐  Unrestricted34.2%

State  -­‐  Restricted20.8%

Federal6.5%

Local3.6%

General  Fund  Expenditures

22

Salaries  &  Benefits84.2%

Other7.2%

Supplies  &  Texts4.6% UDliDes

3.9%

General  Fund  Expenditures

23

InstrucDon63.3%

Student  Services4.4%

Staff  Services5.2%

District  AdministraDon0.9%

School  AdministraDon7.1%

Business  Services5.3%

OperaDon  of  Plant10.4%

TransportaDon3.3%

Capital  Fund

24

Bond  Project  TimelineProject Start Opening

Mt.  Jordan  MS June  2013 August  2015

Midvale  MS June  2015 August  2017

Indian  Hills  MS June  2017 August  2018

Butler  ES June  2017 August  2018

White  City  Area  ES June  2018 June  2019

Small  Capital  ProjectsBudget

Jordan  HS-­‐tennis  courts,  HVAC,  commons $1,680,000

Alta  HS-­‐convert  shops,  fire  panel  replacement 1,035,000

Draper  ES-­‐interior,  lighDng  &  electrical  upgrade 350,000

LighDng  upgrades-­‐6  elementary  schools 300,000

Silver  Mesa  ES-­‐wall  carpet  replacement 200,000

District-­‐wide  projector  installment 100,000

Jordan  Valley-­‐pool  pump  replacement 100,000

Other  small  capital  projects 700,000

Total $4,465,000

Other  Capital  ExpendituresBudget

District-­‐wide  building  repairs  &  site  work $4,590,000

IT  projects  &  equipment 3,100,000

Buses 1,910,000

Bond  issuance,  copy  machines,  driver  ed  cars,  equip. 1,525,000

School  equipment  &  FF&E  for  new  buildings 3,716,000

Total $14,841,000

Bond  Issuance| Plan  for  next  bond  issue

| Adopt  Parameters  ResoluDon-­‐Aug  6th  Board  Mtg

| Up  to  $60  million

| Sale  late  September,  early  October

28

Board  AcOon| Adopt  the  2012-­‐13  final  budget  as  presented

| Adopt  the  2013-­‐14  budget  as  presented  and  adopDng  the  tax  rates  as  follows:{ Set  the  tax  rate  at  the  CerDfied  Tax  Rate  as  calculated  

by  the  State  Tax  Commission

{ Set  the  State  Basic  Rate  at  the  rate  determined  by  USOE  when  received

{ Set  the  Debt  Rate  0.001619  for  2013-­‐14

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30

31

32

Budgeted  Revenues/ExpendituresGeneral  Fund

!$196!! !$196!!

!$207!!

!$215!!

!$221!!

!$198!! !$199!!

!$206!!

!$217!!

!$223!!

!$180!!

!$185!!

!$190!!

!$195!!

!$200!!

!$205!!

!$210!!

!$215!!

!$220!!

!$225!!

!$230!!

2010! 2011! 2012! 2013! 2014!

Millions!

Budgeted!Revenue! Budgeted!Expenditures!