Cedar Rapids Community Schools

School Finance BasicsUpdated: 9-20-10

Certified Enrollment Trends

15,000

15,500

16,000

16,500

17,000

17,500

18,000

18,500B

udge

t E

nrol

lmen

t

18,114 17,860 17,861 17,656 17,691 17,754 17,677 17,746 17,502 16,929

01-02 02-03 03-04 04-05 05-06 06-07 07-08 08-09 09-10 10-11

Data Source: Line 7 “Certified Enrollment” Resident Pupils

Open Enrollment Trends*

0

200

400

600

800

1000St

uden

ts

In 12 62 123163242259 304357349376413464482492535529 521560557498460

Out 16 92 147234276282 363407456476558640632657672690 736755793747818

FY 91

FY 92

FY 93

FY 94

FY 95

FY 96

FY 97

FY 98

FY 99

FY 00

FY 01

FY 02

FY 03

FY 04

FY 05

FY 06

FY 07

FY 08

FY 09

FY 10

FY 11

Total losses exceed $13.2 million since inception.*Data Source: FTE of open enrolled resident public students, Annual Certified Enrollment

FY 2011: $2 million gap

“District Cost Per Student”

$0

$1,000

$2,000

$3,000

$4,000

$5,000

$6,000

$4,512 $4,557 $4,648 $4,741 $4,931 $5,128 $5,333 $5,546 $5,768 $5,883

FY 02 FY 03 FY 04 FY 05 FY 06 FY 07 FY 08 FY 09 FY 10* FY 11

State Allowable Growth is 2% for fiscal year 2010-2011. FY2012 will be decided in Feb 2011.

Allowable Growth Trends

Percent District Cost

Fiscal Year Growth Per Pupil

2001-2002 4.00% $4,5122002-2003 1.00% $4,5572003-2004 2.00% $4,6482004-2005 2.00% $4,7412005-2006 4.00% $4,9312006-2007 4.00% $5,1282007-2008 4.00% $5,3332008-2009 4.00% $5,5462009-2010 4.00% $5,7682010-2011 2.00% $5,883

Calculation of District New Money INCREASE PERCENT

FY 2010-2011 FY 2009-2010 (DECREASE) CHANGE

BUDGETED ENROLLMENT 16,929.00 17,502.00 -573.00 -3.27%(TIMES)

DISTRICT COST PER PUPIL $5,883 $5,768 $115 2.00%(EQUALS)

REG. PROGRAM REVENUES $99,599,401 $100,951,536 -$1,352,135 -1.34%

101% BUDGET GUARANTEE $2,361,650 $0ACTUAL REG. PROGRAM REVENUES $101,961,051 $100,951,536 $1,009,515 1.00%

What will the District receive in New Money?

$82,363,774

$20,118,467

$64,135,838

$3,362,909

Actual Revenues: General FundFiscal Year 2009-2010

Total General Fund Revenues: $169,980,988

Local Sources

State Sources

Federal SourcesOther Financing Sources

Fiscal Year 2011Valuation Per Student

$260,703$328,994

$193,746

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

Mt. Vernon Cedar Rapids CollegeCommunity

Valu

ati

on

Per

Stu

den

t

State Average FY2011: $263,000

Property Tax Valuation Trends

$0.00$0.50$1.00$1.50$2.00$2.50$3.00$3.50$4.00$4.50$5.00

($B

illi

ons)

Values* $3.67 $3.86 $3.97 $3.99 $4.05 $4.09 $4.13 $4.24 $4.38 $4.41

FY 02 FY 03 FY 04 FY 05 FY 06 FY 07 FY 08 FY 09 FY 10 FY 11

*Excludes TIF valuations

District Levy Rate Trends

$15.17$13.92$13.78$14.37

$14.90$15.25$15.74

$15.37$15.36

$12.95

$0.00

$2.00

$4.00

$6.00

$8.00

$10.00

$12.00

$14.00

$16.00

$18.00

FY 02 FY 03 FY 04 FY 05 FY 06 FY 07 FY 08 FY 09 FY 10 FY 11Dol

lars

per

$1,

000

in T

axab

le V

alua

tion

Tax Levy ComparabilityLinn County School Districts

Fiscal Year 2010-2011

$0.00

$2.00

$4.00

$6.00

$8.00

$10.00

$12.00

$14.00

$16.00

$18.00

$20.00

Levy rate/$1,000 $19.74 $19.25 $18.84 $18.57 $18.40 $18.14 $17.98 $17.20 $16.42 $16.30 $15.17

Linn-Mar

Mt. Vernon

*Lisbon

Cntr.Pt.- Urb.

Central City

Spring-ville

Alburnett

College N. Linn MarionCedar Rapids

Revised 5-20-10

Tax Levy ComparabilityUrban Education Network

Fiscal Year 2010-2011

$0.00

$2.00

$4.00

$6.00

$8.00

$10.00

$12.00

$14.00

$16.00

$18.00

$20.00

Levy rate/ $1,000 $18.59 $17.79 $17.64 $17.08 $16.88 $16.46 $15.17 $14.69

Council Bluffs*

Sioux CityDes

MoinesDavenport Dubuque Waterloo

Cedar Rapids

Iowa City

Revised 5-20-10

Salaries

Benefits

Services

Supplies

Equipment

FundModifications

SALARIES $112,949,834 62%BENEFITS $34,538,588 19%SERVICES $13,779,111 8%SUPPLIES $10,786,990 6%EQUIPMENT $1,106,623 1%FUND MODIFICATIONS $7,701,973 4%

TOTAL 180,863,119$ 100%

General Fund Actual ExpendituresFiscal Year 2009-2010

$4,037,280

$4,247,690

$18,255,314

$3,347,992

$4,768,226$5,146,794

$6,011,564

$7,840,836

$169,980,988

GeneralSILORecoveryFood ServiceManagementPPELDebt ServiceActivityDay Care Fund

Actual Revenues: All FundsFiscal Year 2009-2010

Total Revenues: $223,636,684

District Actual Revenues: By Source Fiscal Year 2009-2010

$59,394,381

$21,837,115

$18,134,171

$27,733,777

$7,286,421$82,440,705

$6,810,114State Sources

Property Taxes

Other Local

SILO

Federal

IncomeSurtaxesOper. Transfers

Total Revenues $223,636,684

$3,900,303

$4,391,983

$180,863,119

$18,268,944

$7,571,336

$2,674,309

$29,424,410

$4,995,959$5,712,448

General

SILO

Debt Service

Recovery

Food Service

PPEL

Management

Activity

Day Care

Actual Expenditures: All FundsFiscal Year 2009-2010

Total Expenditures: $257,802,811

$-

$5.00

$10.00

$15.00

$20.00

$25.00

$30.00

Unspent Balance $1.11 $1.95 $4.54 $7.90 $19.36 $21.78 $24.46 $21.78 $21.61

Cash Balance $0.55 $4.62 $9.88 $16.56 $18.56 $21.00 $23.20 $17.10 $7.18

FY 02 FY 03 FY 04 FY 05 FY 06 FY 07 FY 08 FY 09 FY 10

General Fund Reserve TrendsCash* and Unspent Balance

(millions)

* Cash is defined as ending “fund balance.” Revised 9-20-10

General Fund Reserve Goal Iowa Schools Cash Anticipatory Program

(ISCAP) Solvency Ratio

-4.00%

-2.00%

0.00%

2.00%

4.00%

6.00%

8.00%

10.00%

12.00%

14.00%

FY00

FY01

FY02

FY03

FY04

FY05

FY06

FY07

FY08

FY09

FY10

Solvency Ratio

Board Goal: 8.0%-10%Minimum TargetedSolvency: 5.0%

Reserve Goal: To achieve a 8.0%-10% solvency ratio through a balanced budget and continued use of the cash reserve levy.

Revised 9-20-10

Historical and ProposedCash Reserve Levies

$4.68

$7.05

$8.00 $7.92

$4.95

$3.70$3.77

$3.28$3.56

$9.73

$0.00

$1.00

$2.00

$3.00

$4.00

$5.00

$6.00

$7.00

$8.00

$9.00

$10.00

Mil

lion

s

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Fiscal YearTotal Cash Reserve Levy: $9.7 millionPreliminary SBRC FY2011 Cash Reserve Levy Limitation: $29.97 million

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