2020-2021 FINAL BUDGET · 2020. 8. 25. · Final Budget (FB) May 18, 2020 Strategic Budget...
Transcript of 2020-2021 FINAL BUDGET · 2020. 8. 25. · Final Budget (FB) May 18, 2020 Strategic Budget...
Special Meeting of the Board of School TrusteesMay 18, 2020Jason Goudie
Chief Financial Officer
2020-2021FINALBUDGET
2020-2021 FINAL BUDGET
Page 1 of 19Jason Goudie May 18, 2020
Reference 4.02(A)
OVERVIEW
2020-2021 Timeline
Uncertainties
State Funding
Total Per Pupil Revenues
Student Enrollment and DSA
Where the Money Comes From
General Operating Revenues
Revenue: State Projections and Assumptions
Where the Money is Spent
Where Special Education Fund Money is Spent
Final Budget Comparison
Fund Balance Comparison
Unassigned Ending Fund Balance
Employee Contracts Status
2020-2021 FINAL BUDGET
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2020-2021 TIMELINE
April May June July
Tentative Budget Submission required by April 15 to Nevada Department of Taxation
Fiscal Year 2021BeginsJuly 1, 2020
Final Budget Submission required by June 8 to Nevada Department of Taxation
January
Departments directed to provide flat budgets
Tentative Budget (TB)Regular Board SessionApril 23, 2020
December
Adoption Amended Final Budget (AFB)December 10, 2020
Adoption Final Budget (FB)May 18, 2020
Strategic Budget WorkbooksProvided to schools on January 15 based on projected enrollment
September
Strategic Budget WorkbooksUpdated with actual enrollment figures
Amended FinalBudget Submission required by January 1, 2021, to Nevada Department of Taxation
2020-2021 FINAL BUDGET
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Coronavirus Disease 2019 (COVID-19) fiscal impacts
Possible recession impacts
Enrollment uncertainties
State of Nevada funding reductions to K-12 education
Senate Bill (SB) 551 court case related to legality of SB551(State of Nevada’s plan was to fund this from “Rainy Day”fund if Supreme Court ruled SB511 was not legal)
Amount of reimbursement and additional disaster fundingfrom the federal government
UNCERTAINTIES2020-2021 FINAL BUDGET
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STATE FUNDINGBasic Guaranteed Support - Distributive School Account (DSA)
$4,489
$4,891$4,958 $4,962
$5,035$5,136
$5,257
$5,457$5,527 $5,512
$5,574
$5,700$5,781
$6,067$6,138
$4,300
$4,500
$4,700
$4,900
$5,100
$5,300
$5,500
$5,700
$5,900
$6,100 +$286+$71
+$204
+$402+$67 +$4
+$73+$101
+$121
+$200+$70 -$15
(General Operating Fund)
+$62
+$81+$126
2020-2021 FINAL BUDGET
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TOTAL PER PUPIL REVENUES(General Operating Fund)
Does not include “Other Financing Sources,” which primarily are proceeds from bond issuances and transfers-in.
$4,891 $4,958 $4,962 $5,035 $5,136 $5,257 $5,457 $5,527 $5,512 $5,574 $5,700 $5,781 $6,067 $6,138
$214 $234 $234 $231 $235 $229 $239 $243 $256 $348 $384 $406
$431 $445
$1,330 $1,375 $1,346 $938 $917 $817 $877 $886 $943 $907
$1,163 $1,197 $1,213 $1,172 Total
$6,435
Total$6,567
Total$6,541 Total
$6,205 Total$6,288
Total$6,303
Total$6,574
Total$6,655
Total$6,710
Total$6,830
Total$7,247
Total$7,384
Total$7,712
Total$7,755
$‐
$1,000
$2,000
$3,000
$4,000
$5,000
$6,000
$7,000
$8,000
$9,000
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020Amended
FinalBudget
2021FinalBudget
Local Funding Outside of DSA primarily are revenues from local school support tax, property tax, governmental services tax, donations, other miscellaneous revenues.
2020-2021 FINAL BUDGET
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300,000
302,000
304,000
306,000
308,000
310,000
312,000
314,000
316,000
318,000
320,000
322,000
324,000
326,000
328,000
330,000
314,684
317,506 317,084
316,927
FY20Q1
FY20Q2
FY20Q3
FY20Q4*
Average ADE = 316,550*
$6,067
STUDENT ENROLLMENT AND DSA
ADE = Average Daily Enrollment
(*Projected)
317,858
319,967 319,252
319,054
FY19Q1
FY19Q2
FY19Q3
FY19Q4
Average ADE = 319,033
$5,781
319,311
321,805 321,695 321,586
FY18Q1
FY18Q2
FY18Q3
FY18Q4
Average ADE = 321,099
$5,700
314,168
315,474 316,205
315,337
FY21Q1*
FY21Q2*
FY21Q3*
FY21Q4*
Average ADE = 315,296*
$6,138
2020-2021 FINAL BUDGET
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DSA$806.1 32.5%
Other$141.2 5.7%
LSST$961.4 38.8%
(2/3)$381.0 15.4%
(1/3)$190.5 7.7%
Property Tax $571.5 23.0%
(B)
(C)
Basic Support Guarantee:Support per Student $1,922.5 ($6,138x313,205)Est. Special Education 140.2Support Guarantee $2,062.7Less: LSST 961.4 (A)Less: 1/3 Property Tax 190.5 (B)Less: Budget Reserve (COVID-19) 41.9Less: Charter Adjustments 63.0Distributive School Account $ 806.1 (C) 2010 2013 2017 2019 2021
Budget
Property Tax
General Operating Fund Revenues (in millions)
600
800
1000
1200
2011 2013 2015 2017 2019 2021Budget
Local School Support Tax (LSST)
(in millions)
(in millions)
FY 2020 General FundEnding Fund Balance$240.4 million includes unassigned balance of $48.6 million.
Where the Money Comes From
(A)
2020-2021 FINAL BUDGET
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Description TB FY 2021 FB FY 2021 Change CommentsLocal School Support Tax $1,091,710,000 $961,361,000 ($130,349,000) See slide "Revenue: State Projections and Assumption"Ad Valorem (Property) Tax 552,442,000 571,511,000 19,069,000 See slide "Revenue: State Projections and Assumption"Governmental Services Tax 82,821,000 74,194,000 (8,627,000) See slide "Revenue: State Projections and Assumption"Two Percent Franchise Tax 4,680,000 4,680,000 0 3-year average of $4.7 millionE-Rate Reimbursements 3,230,000 3,230,000 0 3-year average of $3.2 millionLocal Government Taxes 1,380,000 1,380,000 0 3-year average of $1.5 millionTuition And Summer School 3,120,000 3,120,000 0 3-year average of $3.1 millionAdult Education 150,000 150,000 0 3-year average of $0.2 millionAthletic Proceeds 1,120,000 1,120,000 0 3-year average of $1.1 millionServices Provided 1,660,000 1,660,000 0 3-year average of $1.6 millionDonations And Grants
1,050,000 1,050,000 03-year average of $1.1 million (less: school generatedfunding was moved to Student Activities Fund)
Other Local Sources 9,590,000 9,590,000 0 3-year average of $9.4 million
Interest Income 3,660,000 3,660,000 0 3-year average of $4.5 millionTotal Local Sources 1,756,613,000 1,636,706,000 (119,907,000)
State Distributive Fund 723,945,000 806,072,000 82,127,000 See slide "Revenue: State Projections and Assumption"Total State Sources 723,945,000 806,072,000 82,127,000
Federal Impact Aid 140,000 140,000 0 3-year average of $0.1 millionForest Reserve 70,000 70,000 0 3-year average of $0.1 millionAdministrative Claiming 1,170,000 1,170,000 0 3-year average of $1.2 million
Total Federal Sources 1,380,000 1,380,000 0
Sales Of District Property 950,000 950,000 0 3-year average of $1.0 millionTotal Other Sources 950,000 950,000 0
Total Operating Revenues $2,482,888,000 $2,445,108,000 ($37,780,000)
GENERAL OPERATING REVENUES2020-2021 FINAL BUDGET
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REVENUE: STATE PROJECTIONS AND ASSUMPTIONS
Property TaxFinal Budget FY 2021 = $ 571,511,000Tentative Budget FY 2021 = $ 552,442,000
Additional Revenue = $ 19,069,000
Local School Support Tax (LSST)Final Budget (FB) FY 2021 = $ 961,361,000Tentative Budget FY 2021 = $1,091,710,000
Less Revenue = ($ 130,349,000)
FY 2021 FB based on Nevada Department of Taxation’s FY 2021 Final Local Government Revenue Projection. In addition, an 11.5 percent reduction was applied to Nevada Department of Taxation’s FY 2021 Final Local Government Revenue Projection, due to FY 2021 LSST projection being issued prior to the COVID-19 state of emergency. The 11.5 percent reduction aligns CCSD with the same impact experienced during the Great Recession and decreased LSST by $125 million, which per Nevada’s K-12 funding plan this revenue loss will go as additional DSA funding, for a net revenue impact of $0.
FY 2021 FB based on Nevada Department of Taxation’s FY 2021 Proforma Ad Valorem Revenue Projections. There was a significant change to General Cap Rate for Tax Cap Factors, the Moving Average Growth Rate for CCSD was 4.6 percent in FY 2020 and increased to 6.7 percent for FY 2021.
2020-2021 FINAL BUDGET
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REVENUE: STATE PROJECTIONS AND ASSUMPTIONS
Distributive School AccountFinal Budget FY 2021 = $ 806,072,000Tentative Budget FY 2021 = $ 723,935,000
Additional Revenue = $ 82,127,000
Governmental Services TaxFinal Budget FY 2021 = $ 74,194,000 Tentative Budget FY 2021 = $ 82,821,000
Less Revenue = ($ 8,627,000)
FY 2021 FB based on Nevada Department of Taxation’s FY 2021 Final Local Government Revenue Projection and applying a 10 percent reduction due to FY 2021 GST projection being issued prior to the COVID-19 state of emergency. The 10 percent reduction from the Nevada Department of Taxation’s FY 2021 GST projection aligns CCSD with the same impact experienced during the Great Recession.
DSA funding is based on General Fund DSA changing, one-third of the $19.1 million property tax increase will decrease DSA by $6.3 million, COVID-19 budget reduction of $41.9 million (72 percent of $58.2 million), and LSST will decrease by $130.3 million, which is an increase to DSA. Due to net adjustments, the General Fund DSA revenue decreased by $82.1 million. Special Education Fund DSA is projected to remain the same at $140.2 million.
(CONTINUED)
2020-2021 FINAL BUDGET
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WHERE THE MONEY IS SPENT
Other 13%*
Salaries and Benefits87%*
*General Operating Fund
Full-Time Equivalents (FTEs)
($ IN MILLIONS)
School Based -Strategic 16,740 64.0% 1,480.7 63.7%School Based 5,410 20.7% 468.3 20.1%Transportation 1,630 6.2% 119.8 5.2%Central Office 2,364 9.1% 256.9 11.0%Total 26,144 100% 2,325.7 100%
($ IN MILLIONS)
Textbooks/Supplies $ 150.8Fuel/Vehicle/Buses 60.8Electricity/Gas/Water/Utility 47.7Professional Services 22.1Technology 19.5Property/Liability Insurance 17.8Repairs/Maintenance 11.0Printing 2.3Postage 1.5
2020-2021 FINAL BUDGET
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Where Special Education Fund Money is Spent
FTEs = Full-Time Equivalents(includes all employee groups)
Department FTEs $ (In Millions)
Legal 1.0 $ 0.2
Student Record 10.0 0.6
Student Services Division 381.8 49.7
Special Education - Licensed Positions 3,575.3 317.0
Special Education - Support Positions 1,260.7 80.9
Transportation 930.5 75.3
Grand Total 6,159.3 $ 523.7
2020-2021 FINAL BUDGET
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FINAL BUDGET COMPARISON2019 Amended Final Budget
2020 Amended Final Budget Change
2021 Final Budget Change
Beginning Fund Balance $ 66.8 $ 170.9 104.1$ $ 240.4 69.5$ Total Revenues 2,344.4 2,443.3 98.9 2,445.1 1.8Total Resources 2,411.2 2,614.2 203.0 2,685.5 71.3
Total Salaries and Benefits 2,098.4 2,233.8 135.4 2,325.7 91.9Total Services 98.8 116.4 17.6 106.7 (9.7)Total Supplies 158.2 163.6 5.4 176.1 12.5Total Property 42.8 38.1 (4.7) 46.5 8.4Total Other 4.5 4.2 (0.3) 4.2 0.0Total Expenditures 2,402.7 2,556.1 153.4 2,659.2 103.1Other Financing Sources 37.3 37.0 (0.3) 35.0 (2.0)
Total Fund Balance Details $ 45.8 $ 95.1 49.3$ $ 61.3 (33.8)$ Indirect Cost Fund and Donations 0.8 2.3 2.3 Nonspendable (Inventory) 4.0 4.0 4.0 Potential shortfall 39.9 Unassigned 41.0 48.9 55.0
Unassigned at 1.75% Unassigned at 2.00% Unassigned at 2.25%
Total 45.8$ 95.1$ 61.3$ Deficit ‐$ ‐$ ‐$
(IN MILLIONS)
2020-2021 FINAL BUDGET
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FUND BALANCE COMPARISON
Beginning Bal. Ending Bal. Beginning Bal. Ending Bal. Beginning Bal. Ending Bal.
Restricted:Nonspendable ‐ Inventory $ 3.3 $ 4.0 $ 4.0 $ 4.0 0.7$ $ ‐ Donations 0.4 0.3 0.3 0.3 (0.1) ‐ School Technology 0.5 ‐ ‐ ‐ (0.5) ‐ Buses 0.2 ‐ 10.1 ‐ 9.9 ‐ School Carryover (Service Level Agreements) 7.1 ‐ 6.0 ‐ (1.1) ‐ School Carryover (Supplies) 26.4 ‐ 57.0 ‐ 30.6 ‐ School Carryover (Net Vacancy) 34.4 ‐ 45.0 ‐ 10.6 ‐ School‐Based Project Carryover 7.5 ‐ 9.0 ‐ 1.5 ‐
Unrestricted:Assigned/Indirect Costs 49.9 41.9 60.4 2.0 10.5 (39.9)Unassigned Fund Balance 41.2 48.9 48.6 55.0 7.4 6.1
Total $ 170.9 $ 95.1 $ 240.4 $ 61.3 69.5$ (33.8)$
2021 Final Budget
2020 Amended Final Budget Change
Bal. = Balance
(in millions)
2020-2021 FINAL BUDGET
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UNASSIGNED ENDING FUND BALANCE
$0
$10
$20
$30
$40
$50
$60
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Unassigned Fund Balance
1% 1% 1% 1%
1.75%
0.30%
0.81%
2%
2.25%
1.5%
($ IN MILLIONS)
Budgeted
• Regulation 3110, requires the District to have a 2 percent unassigned ending fund balance.
1.75%
Estimated
1.25%
2020-2021 FINAL BUDGET
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Bargaining Group Status FY 2020 FY 2021Clark County Education Association CCEA(Teachers)
Complete CBA reached through FY 2021.
• Salary table increased by 3 percent• One step and longevity movement• Increased health insurance
contribution of 4 percent• Professional growth system
• One step and longevity movement
• Increased health insurance contribution of 4 percent
• Professional growth system
Education SupportEmployees AssociationESEA(Support Professionals)
Complete CBA reached through FY 2021.
• Salary table increased by 3 percent• One step and longevity movement• Increased health insurance
contribution of 4 percent
• One step and longevity movement
• Increased health insurance contribution of 4 percent
Clark County Association of School Administrators andProfessional-technicalEmployeesCCASAPE (Administrators)
Complete CBA reached through FY 2021.
• Salary table increased by 3 percent• One step and longevity movement• Increased health insurance
contribution of 4 percent
• One step and longevity movement
• Increased health insurance contribution of 4 percent
Police Officers Association of the Clark County SchoolDistrictPOA
Complete CBA reached through FY 2021.
• Step L and Step M added to the salary table
• Salary table increased by 3 percent• One step and longevity movement• Differential pay of 6.9 percent • Increased health insurance
contribution of 4 percent
• One step and longevity movement
• Differential pay of 6.9 percent • Increased health insurance
contribution of 4 percent
Police Administrators AssociationPAA
Complete CBA reached through FY 2021.
• Salary table increased by 3 percent• Step and longevity movement• Increased health insurance
contribution of 4 percent
• Step and longevity movement• Increased health insurance
contribution of 4 percent
EMPLOYEE CONTRACTS STATUS2020-2021 FINAL BUDGET
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CLOSING COMMENTS andQUESTIONS
2020-2021 FINAL BUDGET
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2020-2021 FINAL BUDGET
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