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Taxation HearingEastern Carver County Schools
December 12, 2013
Requirement for Tax Hearing• Held during regular meeting at 6:00 p.m. or later• All school districts must hold a meeting• Levy may be adopted at same meeting• Review of current year budget• Prior year actual revenue and expense• Proposed levy discussed including:
– Percent increase– Specific purpose and reasons for increases
• Public allowed to comment
Agenda• Background
– School Funding– Property Tax Levies– Budgets
• District Financials– 2013 Actual– 2014 Adopted Budget
• Proposed Taxes – 2013 Payable 2014 Levy• Public Comment
Background
School District Revenues & Taxes
• State sets funding formulas• State sets tax policy for school districts• State sets maximum authorized property tax levy• State authorizes school board to submit referendums
for operating and capital needs to voters for approval
State Funding per Pupil Unit
YearGross Formula
Allowance
Changes in Pupil
Weighting
Net Increase Excluding Roll-ins
Net Percent Increase
2004-05 $4,601 $0 0.0%2005-06 4,783 182 4.0%2006-07 4,974 191 4.0%2007-08 5,074 100 2.0%2008-09 5,124 50 1.0%2009-10 5,124 0 0.0%2010-11 5,124 0 0.0%2011-12 5,174 50 1.0%2012-13 5,224 50 1.0%2013-14 5,302 78 1.5%2014-15 5,806 $424 80 1.5%Average (10 years)
Fund Accounting
Components• Record revenues and
expenses in different funds
• Each fund has a definite purpose
• Tax levy is one source of revenue for some of the funds
Fund Categories• General• Food Service• Community Service• Building
Construction• Debt Service• Trust• Internal Service
How are School Taxes Spent?General 48.91% Provides funding for regular and special
education instructional programs, transportation,
equipment, building maintenance and health & safety
Community Service 1.90%
Levy for community education services
Debt Service – General & OPEB 49.19%
Levy for principal & interest
Total 100.0%
General Levy
• Student enrollment• Voter approved operating referenda• Transportation• Career and Technical• Safe Schools• Facilities
– Building age & square footage– Operating Capital – Health & Safety– Alternative Facilities
Community & Debt Service Levies
• Community Service– Based on adult population of District– Early childhood based on number of children < 5 years
• Debt Service– Levy to pay principal & interest– Voter approved building projects– Alternative facility bonds
Financials2013 Actual and 2014 Adopted Budget
FY 2013 Actual
FundFY 2012
Fund Balance
FY 2013 Revenue
FY 2013 Expense
FY 2013 Fund
Balance
General 14,282,689 90,426,057 90,168,253 14,540,493
Food Service 756,462 4,845,068 4,664,837 936,693
Community Service 686,484 8,117,645 7,945,233 858,896
Capital Projects & Building Fund
10,403,267 11,182 2,813,988 7,600,461
Debt Service * 48,907,989 91,545,046 66,077,829 74,375,206
Proprietary & Trust 6,154,980 2,275,280 1,428,466 7,001,794
Total 81,191,871 197,220,278 173,098,606 105,313,543
* Revenue includes refunding of 2007A bonds
FY 2014 Adopted Revenue Budget
Gen-eral
Fund$94,389,38569%
Food Ser-vice Fund
$4,773,3203%
Com-mu-nitySer-vice Fund
$7,920,8186%
Con-struc-tion Fund0%
Debt Ser-vice Fund
$19,416,56614%
OPEB Debt Ser-vice Fund
$716,3371%
Trust Funds$ 9,790,400
7%
2013-2014 Revenues by Fund
FY 2014 Adopted Expense Budget
General Fund
$96,895,057 69%
Food Service
Fund$4,929,5
283%
Com-munity
Svc Fund
$7,847,3266%
Construc-tion Fund$4,677,1
57 3%
Debt Service
Fund$17,145,
316 12%
OPEB Debt Service Fund$733,550
1% Trust Funds$8,391,392
6%
2013-2014 Expenditures By Fund
FY 2014 General Fund Revenue Sources
Local Property Taxes $17,678,84719%
State Sources 71,772,13876%
Federal Sources 2,681,375 3%
Other2,257,025
2%
FY 2014 General Fund Expense Categories
Salaries$61,382,28663%
Employee Benefits $16,044,73617%
Purchased Services $13,588,77414%
Supplies & Materials $3,707,2024% Capital Outlay
$1,920,5112%
Other Expenditures $251,5480%
Proposed Taxes
School District Tax LevyCategory 2012 Pay 2013
FY 20142013 Pay 2014
FY 2015Difference % Change
General Fund RMV Levies
13,713,909 12,510,886 -1,203,023 -8.8%
General Fund NTC Levies
4,762,166 6,277,860 1,515,694 31.8%
Total General Fund
18,476,075 18,788,746 312,671 1.7%
Community Service
820,806 731,301 -89,505 -10.9%
Debt Service 18,400,154 18,122,401 -277,753 -1.5%
OPEB 715,837 770,490 54,653 7.6%
Total Levy 38,412,872 38,412,938 66 0.0%
District 112 Levy
05Pay06 FY2007
06Pay07 FY2008
07Pay08 FY2009
08Pay09 FY2010
09Pay10 FY2011
10Pay11 FY2012
11Pay12 FY2013
12Pay13 FY2014
13Pay14 FY 2015
$0
$5,000,000
$10,000,000
$15,000,000
$20,000,000
$25,000,000
$30,000,000
$35,000,000
$40,000,000
$45,000,0006,
966,
946
10,7
88,4
44
11,3
38,6
29
11,2
48,5
30
11,2
22,6
87
12,0
40,7
66
13,2
69,0
98
13,7
13,9
09
9,78
0,63
5
3,678,209
4,460,3854,913,359 4,648,102 5,598,342
5,584,363 3,958,4354,762,166
9,008,111
741,164
774,018699,168 797,297
850,691834,804 777,901
820,806 731,301
12,6
87,4
60
16,2
11,6
33
17,9
74,3
49
18,5
29,1
42
18,0
06,6
33
18,9
37,9
43
20,0
74,6
92
19,1
15,9
91
18,8
92,8
91
Gen-Voter Approved General-Non Voter Approved Community Ed Debt Service
Property Taxes by Year & TypePayable
YearSchool Year
Residential Homestead
Commercial Industrial
Agricultural Land & Bldg
2003 2003-04 1,466 2,269 599
2004 2004-05 1,585 2,375 589
2005 2005-06 1,433 2,139 527
2006 2006-07 1,399 2,089 515
2007 2007-08 1,624 2,372 558
2008 2008-09 1,623 2,379 564
2009 2009-10 1,590 2,337 558
2010 2010-11 1,611 2,365 563
2011 2011-12 1,830 2,693 645
2012 2012-13 1,941 2,864 689
2013 2013-14 2,028 2,978 709
2014 2014-15 2,026 3,022 744
$285
,000
Pro
pert
y V
alue
Historical School District Property Tax$2
85,0
00 P
rope
rty
Pay 03
Pay 04
Pay 05
Pay 06
Pay 07
Pay 08
Pay 09
Pay 10
Pay 11
Pay 12
Pay 13
Pay 14
0
500
1,000
1,500
2,000
2,500
3,000
3,500
Residential Commercial Farm
School District Levies69.9% of Total School District
Levies are Voter Approved
The school board only has control over 10.8% of the District’s total levy
Voter Approved Referendum
19.09%Non-Voter Ap-proved General
23.43%
Voter Approved Capital Projects6.38%
Non-Voter Community Services 1.90%
Voter Approved Debt
44.44%
Non-Voter Approved Debt4.76%
Levy Certification – FY 2015Eastern Carver County Schools
General Fund $18,788,746.12
Community Education $731,300.56
Debt Service $18,892,891.42
Total $38,412,938.10
Public Comment