1 Evansville Vanderburgh School Corporation 2014 Budget Presentation

1 Evansville Vanderburgh School Corporation 2014 Budget Presentation August 12, 2013

2 2014 Budget Board Approval Required 2014 Funds 2014 Property Tax Supported General Fund Rainy Day Fund Capital Projects Transportation Operating Bus Replacement Debt Service and Exempt Debt Service Art Institute

3 2014 Budget Assumptions 1. Enrollment projections reflect 2012 -2013 levels. 2. The majority of the cost of utilities will continue to be paid from the Capital Projects Fund per State statute. 3. All salary projections reflect a 0% increase. 4. Full Day Kindergarten Funding will be included with the Basic Grant Distribution. 5. Basic Grant Distribution is now based on a fiscal year.

4 2014 Budget Revenue 2014 Basic Tuition Support Factors I. C. 20 -43 • • • Basic Tuition Support Honors Special Education Vocational Education Complexity Index Full Day Kindergarten

5 2014 Budget Funding Formula 2014 1. Transition to Foundation Calculation 2 Academic Honors Diploma 3. Special Education (Based on Exceptionality) 4. Vocational Education (Based on Course) 5. Complexity Grant 6. Full Day Kindergarten TOTAL $98, 477, 175 391, 000 11, 411, 097 2, 040, 825 28, 558, 918 4, 696, 140 $145, 575, 155

6 2014 Budget Tuition Support Formula 2014 Jan - June FY 2014 July – Dec. FY 2015 1. Transition to Foundation Calculation $4, 569 $4, 587 2 Academic Honors Diploma $1, 000 3. Special Education (Based on Exceptionality) $533 - $8350 4. Vocational Education (Based on Course) $150 - $450 5. Complexity Grant . 33 . 35 6. Full Day Kindergarten $2, 448 $2, 472 Allocation per student

7 2014 Budget Funding Formula 2014 Jan - June FY 2014 July – Dec FY 2015 FY 14/15 Total 49, 141, 788 49, 335, 387 98, 477, 175 195, 500 391, 000 1. Transition to Foundation Calculation 2 Academic Honors Diploma 3. Special Education (Based on Exceptionality) 5, 705, 549 11, 411, 097 4. Vocational Education (Based on Course) 1, 020, 413 1, 020, 419 2, 040, 825 5. Complexity Grant 14, 128, 291 14, 430, 627 28, 558, 918 6. Full Day Kindergarten 2, 336, 616 2, 359, 524 4, 696, 140 TOTAL $145, 575, 155

8 2014 Budget General Fund State and Local Source Revenue 1. Summer School 325, 000 2. Remediation 225, 000 3. Transfer Tuition 400, 000 4. Local Revenue, Fees, and Interest TOTAL 6, 543, 279 $7, 493, 279

9 2014 Budget General Fund Revenue Total Basic Grant Miscellaneous State and Local TOTAL 145, 575, 155 7, 493, 279 $153, 068, 434

10 2014 Budget Permissible General Fund Expenditures Salaries and Fringe Benefits of Teachers Administrators Custodians Clerical Purchased Services Supplies

11 2014 Budget

12 2014 Budget General Fund Expenditures Category Percentages 2012 Budget 2013 Budget 2014 Budget 1. Academic Achievement 2. Instructional Support Subtotal - Instruction 75. 67% 3. 93% 79. 60% 74. 98% 4. 18% 79. 16% 75. 11% 4. 70% 79. 81% 3. Overhead & Operational 4. Non-Operational 20. 40% 0. 00% 20. 84% 0. 00% 20. 19% 0. 00% 100. 0% TOTAL

13 2014 Budget Rainy Day Fund 2014 Budget Personal Services $5, 812, 298. 00 TOTAL $5, 812, 298. 00

14 2014 Budget Levy Funds Revenue Source Property Tax Miscellaneous Taxes: • Motor Vehicle Excise Tax • Commercial Vehicle Excise Tax • Financial Institutions Tax

15 2014 Budget Assessed Value EVSC 2007 - Pay 2008 $8. 2 billion 2008 - Pay 2009 $6. 9 billion 2009 - Pay 2010 $7. 0 billion 2010 - Pay 2011 $6. 9 billion 2011 – Pay 2012 $6. 7 billion 2012 - Pay 2013 $6. 2 billion 2013 – Pay 2014 $6. 3 billion (estimate)

16 2014 Budget Capital Projects Fund (CPF) Capital Projects Plan – Three-Year Plan Rate-Driven Fund – Rate Established by State Construction/Improvements Building Construction Building Renovation Building Repair Building Maintenance Equipment and Technology Equipment/Technology Purchases Equipment/Technology Repair

17 2014 Budget Capital Projects Detail 2014 Improvements and Replacements: Construction/Improvements 7, 680, 522. 50 Lease/ Purchase 3, 740, 312. 50 Utilities Technology Equipment Skilled Labor Emergency Allocation Future Projects (future projects from 2013 --$2, 721, 601) 4, 651, 747. 00 3, 144, 660. 00 255, 000. 00 1, 000. 00 658, 000. 00 5, 700, 916. 00 Total Budget for 2014 $26, 831, 158. 00 Total Budget less approved future projects from 2013 $24, 109, 557. 00

18 2014 Budget 2014 Capital Projects Plan

19 2014 Budget Debt Service - Regular 2014 Expenditure Budget Debt Service – Regular 12, 100, 924. 00

20 2014 Budget Debt Service - Exempt 2014 Expenditure Budget Debt Service – Exempt 10, 413, 000. 00

21 2014 Budget Transportation Funds Transportation Operating Funding level is determined by State Regulation and increases 2. 6% in 2014 Previous Increases are 2. 8% in 2013 2. 9% in 2012 2. 9% in 2011 3. 8% in 2010 4. 0% in 2009 Bus Replacement 12 year Replacement Plan. Budget - $14, 813, 942. 00 Budget - $3, 886, 062. 00 Statutory provision for Fair Market Lease.

22 2014 Budget Bus Replacement Plan Eligibility 2014 Thirty-one 72 -Passenger buses 2, 729, 705 Three 54 -Passenger 264, 165 Two Wheel Chair 176, 110 Three Conforming Vehicles 145, 539 Fair Market Lease Value 570, 723 TOTAL $3, 886, 062

23 2014 Budget Art Institute Funding to The Arts Council of Southwestern Indiana To provide Ongoing Programs for Our Students Rate-driven Fund – Rate established by State Budget - $350, 000

24 2014 Budget Property Tax Fund Comparisons 2013 2014 Difference Capital Projects Fund 23, 498, 594 24, 109, 557 610, 963 Bus Transportation Fund 15, 493, 657 14, 813, 942 -679, 715 Bus Replacement Fund 8, 066, 827 3, 886, 062 -4, 180, 765 Debt Service – Regular Debt Service – Exempt Pension Debt 9, 622, 391 7, 422, 000 12, 100, 924 10, 413, 000 2, 478, 533 2, 991, 000 Art Institute Fund TOTAL 5, 419, 097 -5, 419, 097 375, 000 350, 000 -25, 000 $69, 697, 566 $65, 673, 485 -4, 224, 081

25 2014 Budget 2014 Advertised Budgets General Fund 153, 068, 434 Capital Projects Fund** 26, 831, 158 Bus Transportation Fund 14, 813, 942 Bus Replacement Fund 3, 886, 062 Debt Service – Regular 12, 100, 924 Debt Service – Exempt 10, 413, 000 Art Institute Fund Rainy Day* TOTAL *Previously Obtained Funds **Partially Previously Obtained Funds 350, 000 5, 812, 298 $227, 275, 818

26 2014 Budget 2014 Advertised Tax Rates Capital Projects Fund . 8037 Bus Transportation Fund . 4938 Bus Replacement Fund . 1295 Debt Service – Regular . 4034 Debt Service – Exempt . 3471 Art Institute Fund . 0117 Total Rate 2. 1891

27 2014 Budget NEXT STEPS August 26, 2013 Board Meeting- Budget Review and Permission to Advertise Budget August 28, 2013 Date of 1 st Publication of the 2014 Proposed Budget, Bus Replacement Plan, and Capital Projects Fund. September 4, 2013 Date of 2 nd Publication of Proposed 2014 Budget September 9, 2013 Board Meeting – Public Hearing of Proposed 2014 Budget, Bus Replacement Plan and Capital Projects Fund September 23, 2013 Board Meeting – Proposed 2014 Budget, Bus Replacement Plan, and Capital Projects Plan Adopted by the Board at Public Meeting September 25, 2013 County Council Review of Budget September 28, 2013 File adopted Budgets and Tax Levies with the County Auditor