Cedar Falls Community School District 2011-12 Budget ......State Rank School District 2016/17 RPDC 2016/17 RPDC/P 10/1/16 Count 2017/18 RPDC Dollar Growth % Growth Per Pupil Growth

2017/18 Budget

Presentation

CEDAR FALLS COMMUNITY

SCHOOL DISTRICT

Iowa Code Chapter 257.1(2)

“... each school district in the state is entitled to receive foundation

aid, in an amount per pupil equal to the difference between the

amount per pupil of foundation property tax in the district, and the

combined foundation base per pupil or the combined district cost per

pupil, whichever is less.

IOWA PUBLIC SCHOOL FOUNDATION PROGRAM -

STATE AID

Aid & Levy Budget Worksheet

Implements the school foundation aid formula

Calculates the amount of spending authority, state aid and property

taxes for a school district

A school district’s general fund spending is limited by it’s maximum

spending authority

Formula first determines the total spending authority

Primarily student enrollment times cost per pupil

Determines state aid vs. property taxes

GENERAL FUND BUDGET DETERMINATION

Aid & Levy Worksheet – 21 Sections

1. Budget Enrollment

2. Cost per Pupil Amounts

3. Weighted Enrollment

Special Education

Sharing

At-Risk (Now included as a part of drop-out funding)

English Second Language (ESL)


Aid & Levy Worksheet Continued

4. District Cost Calculations

Regular Program

Other District Cost Calculations (TSS/PD/Early Childhood/TLC)

AEA District Cost Calculations

5. Combined District Cost (Summary of Section 4)

6. Uniform Levy

Basic

Utility Replacement Adjustment

Uniform Levy Commercial & Industrial State Replacement Adjustment



7. State Foundation Aid

Regular Program Cost

Preschool Foundation Aid

8. Additional Dollar Levy

Combined District Cost

Property Tax Replacement Payment (PTRP)

Property Tax Equity & Relief (PTER) (67 schools for Fy17 - $33.48 million)

Final Additional Levy Before Utility Replacement Adjustment

9. Final State Foundation Aid Calculation



10. Instructional Support Levy Calculation

11. Educational Improvement Program (CF currently not eligible)

12. Reserved for Future Use

13. Additional Levy Adjustment

Utility Replacement

C & I State Replacement Adjustment

14. Reserved for Future Use

15. Summary of General Fund Levies



16. State Aid Payments to AEA & District

17. Summary of General Fund Budget Spending Authority

18. Summary of Financing for General Fund Maximum Budget

19. Voted Physical Plant & Equipment Levy (PPEL)

20. Income Surtax Rates & General Fund Surtax Dollars

21. Other Property & Utility Tax Replacement Taxes

Management Levy

Regular Physical Plant & Equipment Levy

Debt Service


4,398.3 4,442.9 4,489.3

4,741.4 4,738.1 4,799.3 4,951.1

5,051.2 53.9

311.8 292.1

121.0 121.0 108.0

101.0

95.6

3,800

4,000

4,200

4,400

4,600

4,800

5,000

5,200

Oct-09 Oct-10 Oct-11 Oct-12 Oct-13 Oct-14 Oct-15 Oct-16

Stu

de

nt

CF OE Out

CERTIFIED ENROLLMENT SECTION 1

4,452.2 4,754.7 4,781.4 4,862.4 4,859.1 4,907.3 5,052.1 5,146.8

7.93% 8.51% 8.08% 7.22%

6.58% 5.89% 5.72% 5.67%

2.85% 3.11%

2.71% 2.90%

2.88% 3.21% 3.06% 2.99%

1.60%

1.47%

1.36% 1.31%

1.47% 1.35% 1.57% 2.08%

0%

2%

4%

6%

8%

10%

12%

14%

Oct 09 Oct 10 Oct 11 Oct 12 Oct 13 Oct 14 Oct 15 Oct 16

L1 L2 L3

SPECIAL ED ENROLLMENT BY PERCENTAGE SECTION 3

0.00%

1.00%

2.00%

3.00%

4.00%

5.00%

6.00%

7.00%

8.00%

Fy11 Fy12 Fy13 Fy14 Fy15 Fy16 Fy17 FY18

Cedar Falls CF w/o PLS State

HISTORY OF SUPPLEMENTAL STATE AID IN PERCENTAGE

State

Rank

School District 2016/17 RPDC 2016/17

RPDC/P

10/1/16

Count

2017/18 RPDC Dollar Growth %

Growth

Per Pupil

Growth

Enrollment

Increase

11 W Des Moines* $59,545,319 $6,591 8,968.9 $59,995,402 $ 450,083 0.76% $ 50.18 (43.6)

12 Linn-Mar $47,448,557 $6,592 7,312.5 $48,737,813 $ 1,289,256 2.72% $ 176.31 114.6

13 Johnston $44,529,455 $6,591 6,894.2 $45,942,949 $ 1,413,494 3.17% $ 205.03 131.1

14 Southeast Polk $44,828,687 $6,591 6,797.2 $45,296,541 $ 467,854 1.04% $ 68.83 (4.3)

15 Marshalltown $35,289,535 $6,632 5,435.2 $36,443,016 $ 1,153,481 3.27% $ 212.22 114.1

16 Cedar Falls $33,333,756 $6,598 5,146.8 $34,334,303 $ 1,000,547 3.00% $ 194.44 94.7

17 College $32,608,313 $6,664 5,086.6 $33,897,102 $ 1,228,789 3.95% $ 253.37 139.2

18 Muscatine $34,690,335 $6,664 5,084.2 $34,416,225 $ (274,110) (0.79)% $ (53.91) (85.6)

19 Pleasant Valley $30,471,823 $6,797 4,745.5 $32,255,164 $ 1,783,341 5.85% $ 375.80 213.7

20 Ottumwa $30,469,534 $6,664 4,643.2 $30,942,285 $ 472,751 1.55% $ 101.82 20.3

21 Burlington $29,908,402 $6,664 4,422.7 $29,673,177 $ (235,225) (0.79)% $ (53.19) (34.8)

SSA COMPARISON - SIMILAR SIZED SCHOOLS

* = Indicated budget guarantee for Fy18

-177.2

167.3

277.1

162.8

50.2

239.5

285.7

-244.2

359.4

45.3

-171.2

-250.0

-200.0

-150.0

-100.0

-50.0

0.0

50.0

100.0

150.0

200.0

250.0

300.0

350.0

400.0

Stu

de

nts

SIMILAR SIZED SCHOOLS

THREE YEAR CUMULATIVE CHANGE

CERTIFIED ENROLLMENT

Oct. 2014, 2015 & 2016 certified enrollment count

$785,031

$1,510,715

$1,714,497

$1,057,865

$641,330

$1,122,744

$1,356,885

$131,258

$1,465,758

$600,906

$52,406

$0

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

$1,800,000

SIMILAR SIZED SCHOOLS

THREE YEAR AVERAGE INCREASE

SUPPLEMENTAL STATE AID

Included any budget guarantee funds received

579.0

-311.3

-400

-300

-200

-100

0

100

200

300

400

500

600

STATE ENROLLMENT CHANGE

OCT. 1, 2015 - OCT 1, 2016

Cedar Falls 94.7 (16th)

332 Districts

579.6

-163.7 -200

-100

0

100

200

300

400

500

600

3 YEAR AVERAGE STATE ENROLLMENT CHANGE

OCT. 1, 2014 - OCT 1, 2016

Cedar Falls 95.9 (12th)

332 Districts

$0.0

$0.5

$1.0

$1.5

$2.0

$2.5

Fy11 Fy12 Fy13 Fy14 Fy15 Fy16 Fy17 Fy18

Bil

lio

ns

Regular TIF

CEDAR FALLS CSD

HISTORY OF ASSESSED VALUATION SECTION 6

Used by cities/counties/community colleges since 1958

City/county adopt urban renewal plans

Community Colleges job training projects

City/county adopts an ordinance to initiate Tax Increment Financing

Establishes a base valuation at the prior years’ taxable valuation level

Increased value of TIF area is incremental valuation

Revenue on base valuation goes to all taxing authorities

Revenue on incremental valuation goes to TIF project with some

exceptions

TAX INCREMENT FINANCING BASICS

$260,000

$280,000

$300,000

$320,000

$340,000

$360,000

$380,000

$400,000


Cedar Falls State Median Avg

ASSESSED VALUATION PER STUDENT

70.16% 65.05%

74.04% 76.00% 76.93% 73.52%

1.33%

1.21%

1.35% 1.36% 1.29%

1.21%

27.22% 32.64%

23.44% 21.66% 16.84% 21.01%

4.02% 3.31% 1.29% 1.10% 1.17% 0.98% 0.92% 0.96%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

2012/13 2013/14 2014/15 2015/16 2016/17 2017/18

Residential Ag land & bldgs Comm./Indust. Multi-residential RR/Utility/Other

ASSESSED VALUATION BY CATEGORY

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

Cedar Falls Dike-NH Hudson Janesville Waterloo Waverly-SR State Avg

2016/17 VALUATION PER STUDENT –

AREA SCHOOL COMPARISON

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000


Fy15 Fy16 Fy17

VALUATION PER STUDENT

AREA SCHOOL 3 YR. COMPARISON

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000

$500,000

WDM Linn-Mar Johnston SE Polk M'town Cedar Falls College Muscatine Pleasant

Valley

Ottumwa Burlington

2016/17 VALUATION PER STUDENT

SIMILAR SIZE SCHOOL COMPARISON

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000

$500,000

WDM Linn-Mar Johnston SE Polk M'town Cedar Falls College Muscatine Pleasant

Valley

Ottumwa Burlington

Fy15 Fy16 Fy17

VALUATION PER STUDENT

SIMILAR SIZE SCHOOL 3 YR. COMPARISON

12.57% $ 838 per Student

Additional Levy

Combined District Cost –

Foundation Dollar Level

62.82% $4,191 per Student

State Foundation Aid =

Foundation Dollar Level – Uniform Levy

Foundation dollar cost per pupil as set

by the State of Iowa x Weighted

Enrollment - Uniform Levy

+ SSA Prop Tax Replacement Payment

24.61% $1,642 per Student

Uniform Levy =

$5.40 per $1,000 assessed valuation x

school district assessed valuation

2017/18 COMBINED DISTRICT COST –

$6,771 PER STUDENT

$5,890 $5,890

$6,008

$6,128

$6,373

$6,453

$6,598

$6,671

$5,400

$5,600

$5,800

$6,000

$6,200

$6,400

$6,600

$6,800

FY11 FY12 FY13 Fy14 Fy15 Fy16 Fy17 Fy18

HISTORY OF COST PER PUPIL

37.47% 37.16% 38.20% 40.65%

37.92% 36.63% 36.07% 37.18%

62.53% 62.84% 61.80% 59.35%

63.08% 63.37% 63.93% 62.82%

0%

10%

20%

30%

40%

50%

60%

70%

Fy11 Fy12 Fy13 Fy14 Fy15 Fy16 Fy17 FY18

Property Tax State Aid

HISTORICAL COMBINED DISTRICT COST MIX

Aid & Levy budget worksheet

Uniform Levy (Section 6)

Property Tax Portion = $10,162,491 (Ln 6.3)

Property Tax Rate = $5.40000

Final State Foundation Aid (Section 9)

Regular Program = $31,191,420 (Ln 9.12 – Ln 9.11)

Includes TSS, PD, TLC, Early Intervention & Property Tax Replacement Payment (PTRP)

COMBINED DISTRICT COST FUNDING

Additional Levy (Section 8 minus Section 13)

Gross Property Tax Additional Levy (Ln 8.4) $6,739,571

Utility Replacement Adjustment (Ln 8.38) - 38,878

AEA Statewide Reduction (Ln 8.41) + 66,618

Property Tax Replacement Payment (Ln 8.42) - 490,585

Add. Levy Utility Replacement Adjust (Ln 13.5) + 333

Add. Levy C & I State Replacement (Ln 13.21) - 257,749

Dropout Prevention Program (Ln 5.17) - 828,149

Net Additional Levy $5,191,161



Aid & levy budget worksheet

Property Tax Portion = $15,353,652


Dropout Prevention (approved by BOE on Dec. 12, 2016)

Property Tax Portion = $828,149


Totals

Property Tax Portion = $16,181,801



$8.51

$9.66 $9.61

$8.62

$10.78

$8.95 $8.98

$0.00

$2.00

$4.00

$6.00

$8.00

$10.00

$12.00



TAX RATE COMPARISON

Includes Drop Out Prevention Funding.

$8.20

$9.81

$9.41

$10.42

$10.71

$8.87 $8.69

$10.57

$9.39 $9.47

$10.98

$8.00

$8.50

$9.00

$9.50

$10.00

$10.50

$11.00

$11.50

WDM Linn-Mar Johnston SE Polk M'town Cedar

Falls

College Muscatine Pleasant

Valley

Ottumwa Burlington


SIMILAR SIZE SCHOOL COMPARISON

Includes Drop Out Prevention Funding

$11.56 $12.28 $13.21

$14.63 $13.71 $13.90 $14.35

$15.35

$0.57 $0.57

$0.66

$0.66 $0.74 $0.74

$0.77

$0.83

$0

$2

$4

$6

$8

$10

$12

$14

$16

$18


Millio

ns

CDC Dropout

HISTORY OF COMBINED DISTRICT COST & DROPOUT

PROPERTY TAX REVENUE

$8.80455 $8.80728 $8.58129 $8.23849 $8.46096 $8.40597 $8.41638 $8.15828

$0.43527 $0.40703 $0.43082 $0.37572

$0.45951 $0.44868 $0.45329 $0.44004

$0.00

$1.00

$2.00

$3.00

$4.00

$5.00

$6.00

$7.00

$8.00

$9.00

$10.00


CDC Dropout

HISTORY OF COMBINED DISTRICT COST & DROPOUT

PROPERTY TAX RATES

Included with General Fund for reporting to Dept. of Education

10 year levy approved by voters of District (Thru Fy2022)

10% of regular district program cost ( L n 10 . 5 ) $3,433,430

Less gross ISL State Aid (22.56% of total) - $ 774,582

Net Property Tax $2,658,848

Instructional Support State Aid + $ 0

(0% of Gross State Aid)

Total Adjusted ISL Dollars = $2,658,848

Less anticipated actual ISL State Aid - $ 0

Anticipated Actual ISL Dollars = $2,658,848

Property tax rate of $1.30531/$1,000

INSTRUCTIONAL SUPPORT LEVY SECTION 10

$2.03

$2.15 $2.23

$2.37 $2.40 $2.45

$2.55

$2.66

$1.0

$1.2

$1.4

$1.6

$1.8

$2.0

$2.2

$2.4

$2.6

$2.8


Millio

ns

HISTORY OF INSTRUCTIONAL SUPPORT LEVY

PROPERTY TAX REVENUE

$1.5497 $1.5354 $1.4512

$1.2927 $1.2749 $1.2856 $1.2915 $1.3053

$0.00

$0.20

$0.40

$0.60

$0.80

$1.00

$1.20

$1.40

$1.60

$1.80


HISTORY OF INSTRUCTIONAL SUPPORT LEVY

PROPERTY TAX RATES

SBRC Approved Requests

Increased enrollment, open enrollment out, LEP excess cost

$624,830 – Increased enrollment, approved by BOE on Nov. 14, 2016

$ 10,160 – ELL beyond 5 years, approved by BOE on Nov. 14, 2016

$102,442 – LEP allowable excess cost, approved by BOE on Sept. 26, 2016

Special Education

$ 807,534 – Special Ed excess cost, approved by BOE on Oct. 10, 2016

Total SBRC #1 approved requests - $1,544,966

CASH RESERVE LEVY – PART ONE SECTION 15

Other

Cash flow needs $ 598,702

Other SBRC approved requests $ 0

Total request for Fy18 $ 598,702

Amount requested was deferred from Fy17

Change due to reduction in Fy17 CR to match published Fy17 tax levy amount.

CASH RESERVE LEVY – PART TWO SECTION 15

2016-17 Budget

SBRC Approved/Requested $1,544,966

Other Request (Fy17 deferral) $ 598,702

Total Cash Reserve Levy $2,143,668

Property Tax Rate of $1.13907

CASH RESERVE LEVY – SUMMARY SECTION 15

$0.0

$0.5

$1.0

$1.5

$2.0

$2.5

Actual

Fy16

Actual

Fy17

Fy18 Fy19 Fy20 Fy21 Fy22 Fy23 Fy24 Fy28 Fy26

Millio

ns

Enrollment Special Ed ELL/LEP 1 Yr Deferred/Additional

FUTURE PROJECTED SBRC REQUESTS

Projections based on RSP & Associates student enrollment growth, $604,325 average

annual special education program & $120,865 average annual ELL/LEP program deficits.

$0.00

$0.20

$0.40

$0.60

$0.80

$1.00

$1.20

Actual

Fy16

Actual

Fy17


Enrollment Special Ed ELL/LEP 1 Yr. Deferred/Additional

FUTURE PROJECTED SBRC REQUESTS

TAX RATE

Projections based on RSP & Associates student enrollment growth, $604,325 annual special education

program deficit, $120,865 annual ELL/LEP program deficit & 2.0% annual assessed valuation increase.

$0.0

$0.5

$1.0

$1.5

$2.0

$2.5


Millio

ns

SBRC Cash Flow

HISTORY OF SBRC CASH RESERVE LEVY

TAX REVENUE

$0.4665 $0.2757

$0.7459

$0.9935

$0.4870

$0.1908

$0.6453 $0.8209

$0.6663

$1.2597 $0.1416

$0.0000

$0.1235

$0.1215

$0.0000

$0.3181

$0.00

$0.20

$0.40

$0.60

$0.80

$1.00

$1.20

$1.40

$1.60

$1.80


SBRC Cash Flow

HISTORY OF CASH RESERVE LEVY TAX RATES

Total General Fund Request

Dollars Tax Rate

Comb. District Cost $15,353,652 8.15841

Dropout $ 828,149 0.44005

Instructional Support $ 2,658,848 1.30531

Cash Reserve Levy $ 2,143,668 1.13907

Totals $ 20,984,317 11.04284

GENERAL FUND SUMMARY SECTION 15

$15.65 $16.25

$17.48

$19.34

$17.84 $17.54

$18.78

$20.98

$10

$12

$14

$16

$18

$20

$22


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HISTORY OF OPERATING FUND PROPERTY TAX REVENUE

$11.92

$11.65

$11.35

$10.90 $10.81

$10.45

$10.81

$11.04

$10.00

$10.20

$10.40

$10.60

$10.80

$11.00

$11.20

$11.40

$11.60

$11.80

$12.00


HISTORY OF OPERATING FUND PROPERTY TAX RATES

Beginning in Fy2015, commercial & industrial property

valuations are being reduced through rollback. Rollback was

95% in Fy2015 and 90% beginning in Fy2016. The state is

reimbursing local governments and school districts for the loss

of property tax receipts.

Beginning in Fy2018, commercial and industrial replacement

payments paid by the State of Iowa becomes limited by the

total amount of payments made in Fy2017.

District is estimating a 97% prorated payment for Fy2018.

COMMERCIAL & INDUSTRIAL (C & I) STATE

REPLACEMENT ESTIMATE

C & I Non-TIF 100% valuation $446,290,221

C & I Non-TIF taxable valuation -$395,327,795

Est. Non-TIF valuation reduction (GF/Mgt. Fund) $ 50,962,426

C & I TIF 100% valuation $150,071,961

C & I TIF taxable valuation -$141,398,178

Est. TIF valuation reduction $ 8,673,783

Est. combined valuation reduction (Debt/PPEL/ISL) $ 59,636,209

Est. General Fund C & I replacement

($50,962,426 / 1,000) * 9.73753 (tax rate) $496,248 x 0.97 = $481,361

Est. Inst. Support Levy C & I replacement

($59,636,209 / 1,000) * 1.30531 (tax rate) $ 77,844 x 0.97 = $ 75,508

CFCSD COMMERCIAL & INDUSTRIAL (C & I)

STATE REPLACEMENT ESTIMATE

$629,377

$38,000

$30,000

$34,975

$40,400

$623,828

$2,135,261

$0 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000

Misc. Other

Pools

Facilities

Rentals

Interest

Sp Ed Tuition

OE Tuition

GENERAL FUND – PROJECTED OTHER LOCAL REVENUE

$235,714

$0

$556,869

$2,538,689

$1,663,806

$476,476

$3,585,158

$23,403,767

$0 $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000

Misc. Other

ISL

C&I Repl.

AEA Flow Thru

State - TLC

State - PreSch

State - Tchr

State - CDC

GENERAL FUND – PROJECTED STATE REVENUE

$30,072

$30,265

$41,000

$900,000

$147,883

$236,498

$147,228

$472,775

$- $200,000 $400,000 $600,000 $800,000 $1,000,000

Misc. Other

Perkins

TAP

Medicaid

Head Start

Part B

Title IIA

Title I

GENERAL FUND – PROJECTED FEDERAL REVENUE

Federal, $1,915,457,

3.25%

Local, $24,474,743,

41.59%

State, $32,460,479,

55.16%

TOTAL 2017/18 GENERAL FUND REVENUE

Due to rounding, percentages may not equal 100.00%

Restricted fund

Board of Education Controlled

Used for property/liability/auto/workman compensation/etc. insurance premiums

Property loss deductible

Early severance benefits

Amount requested for 2017/18

$700,000



($50,962,426 / 1,000) * 0.37196 (tax rate) * 0.97 = $18,387

MANAGEMENT FUND

$735

$650

$550

$450

$500 $530

$500

$700

$0

$100

$200

$300

$400

$500

$600

$700

$800


Th

ou

sa

nd

s

HISTORY OF MANAGEMENT FUND PROPERTY TAX

REVENUE

$0.55987

$0.46602

$0.35722

$0.25485

$0.30864 $0.32191

$0.29319

$0.37196

$0.00

$0.10

$0.20

$0.30

$0.40

$0.50

$0.60


Pe

r Th

ou

sa

nd

HISTORY OF MANAGEMENT FUND PROPERTY TAX RATE

2 Parts

Board of Education Controlled – up to $0.33/$1,000 (regular)

Voters approved renewal of additional $1.34/$1,000 levy for 10 years on

December 6, 2016. Levy now expires June 30, 2028 (voted).

Can be used for:

Purchase or improvement of grounds

Construction, repairing or remodeling of schoolhouses or roads to schoolhouses

including debt for same

Purchase or lease of equipment greater that $500 per unit

Purchasing of “bundled” technology greater than $500

Purchase or lease of school buses or other vehicles

Leasing or renting of facilities

PHYSICAL PLANT & EQUIPMENT LEVY (PPEL)

PPEL Fund


$672,195 (regular) & $2,729,517 (voted) = $3,401,712


Est. Inst. Support Levy C & I replacement

($59,636,209 / 1,000) * 1.67 (tax rate) *0.97 = $96,605

PHYSICAL PLANT & EQUIPMENT LEVY (PPEL)

$0.49 $0.51 $0.54 $0.59 $0.61 $0.62 $0.63 $0.65 $0.67

$1.98 $2.08 $2.18 $2.38 $2.46 $2.52 $2.55 $2.65 $2.73

$0.0

$0.5

$1.0

$1.5

$2.0

$2.5

$3.0

$3.5

$4.0


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Regular Voted

HISTORY OF PHYSICAL PLANT & EQUIPMENT LEVY

(PPEL) PROPERTY TAX REVENUE

$0.33 $0.33 $0.33 $0.33 $0.33 $0.33 $0.33 $0.33

$1.34 $1.34 $1.34 $1.34 $1.34 $1.34 $1.34 $1.34

$0.00

$0.20

$0.40

$0.60

$0.80

$1.00

$1.20

$1.40

$1.60

$1.80


Regular Voted

HISTORY OF PHYSICAL PLANT & EQUIPMENT LEVY

(PPEL) PROPERTY TAX RATES

Restricted fund

Used to pay interest as it becomes due and the amount necessary to pay the

principal when due on bonds or other authorized indebtedness issued by the

district, and to make payments required under a loan, lease-purchase

agreement, or other evidence of indebtedness authorized by this code. (298A.10)

$32 million bond – Voter approved on April 5, 2016

Bonds sold February 7, 2017 – 19 years at 3.0785%


$2,419,725



($59,636,209 / 1,000) * 0.37196 (tax rate) * 0.97 = $68,717

DEBT SERVICE LEVY

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$2.42

$0.0

$0.5

$1.0

$1.5

$2.0

$2.5

$3.0


Millio

ns

HISTORY OF DEBT SERVICE LEVY PROPERTY TAX REVENUE

$0.00000 $0.00000 $0.00000 $0.00000 $0.00000 $0.00000 $0.00000

$1.18791

$0.00

$0.20

$0.40

$0.60

$0.80

$1.00

$1.20

$1.40


Pe

r Th

ou

sa

nd

HISTORY OF DEBT SERVICE LEVY PROPERTY TAX RATE

Comb. Dist . Cost $16,181,801

Cash Res. Levy - SBRC $ 1 ,544,966

Cash Res. Levy - Other $ 598,702

Sub-Total – General Fund $18,325,469 $ 9.73753

Instructional Suppor t Levy $ 2,658,848 $ 1 .30531

Management Fund $ 700,000 $ 0.37196

Voted PPEL Levy $ 2,729,517 $ 1 .34000

Regular PPEL Levy $ 672,195 $ 0.33000

Debt Service Levy $ 2,419,725 $ 1 .18791

Total $27,505,754 $14.27271

SUMMARY

$14.15 $13.79

$13.38

$12.83 $12.78 $12.44

$12.77

$14.27

$13.08

$8

$9

$10

$11

$12

$13

$14

$15


Total w/o Debt Service

TOTAL PROPERTY TAX RATE HISTORY

Dropout Prevention

3.01%

Instructional Support

9.67%

Cash Reserve Levy

7.79%

Management Fund

2.54%

PPEL - Regular

2.44% PPEL - Voted

9.92%


55.82%

Debt Service

8.80%

2017/18 PROPERTY TAX BREAKDOWN


Voted PPEL, Inst. Sup. &

Debt Serv.

28.39%

DRP, CR, Mgt, Reg. PPEL

15.79%


55.82%

2017/18 PROPERTY TAX BREAKDOWN


0%

10%

20%

30%

40%

50%

60%

70%

CDC Dropout Inst Sup Cash Res Mgt R PPEL V PPEL Debt Serv

2014/15 2015/16 2016/17 2017/18

TAX LEVY HISTORY BY PERCENTAGE

$7.00

$8.00

$9.00

$10.00

$11.00

$12.00

$13.00

$14.00

$15.00

2016/17 2017/18

Pe

r Th

ou

sa

nd

Debt

V PPEL

R PPEL

Mgt

Cash Res

ISL

Dropout

CDC

2016/17 $12.76973/$1,000

2017/18 $14.27271/$1,000

Change +$ 1 .50298/$1,000

PROPERTY TAX RATE COMPARISON

$10

$12

$14

$16

$18

$20

$22

$24

$26

$28

2016/17 2017/18

Millio

ns

Debt

V PPEL

R PPEL

Mgt

Cash Res

ISL

Dropout

CDC

2016/17 $22,571,394

2017/18 $27,505,754

Change +$ 4,934,360

PROPERTY TAX REVENUE COMPARISON

$2,419,725

$84,485

$20,807

$200,000

$1,036,938

$119,322

$55,102

$997,981

$0 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000

Debt Serv

V PPEL

R PPEL

Mgt

Cash Res

ISL

Dropout

CDC

2017/18 PROPERTY TAX REVENUE CHANGE

Iowa Code 441.21

Adjustments in value to comply with state law that allows no more than a 4%

increase in taxable value from year to year for all classes of property, except

utility property which has a maximum increase of 8% per year.

Rate adjustment determined by Iowa Department of Revenue.

Rate adjustment is the same for all counties in Iowa.

ASSESSMENT & VALUATION OF PROPERTY

ASSESSMENT LIMITATIONS ORDER (ROLLBACK)

40%

42%

44%

46%

48%

50%

52%

54%

56%

58%

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

RESIDENTIAL ROLLBACK HISTORY

Assessment Yr.

Fiscal Yr. F2009 F2010 F2011 F2012 F2013 F2014 F2015 F2016 F2017 F2018

2016/17 2017/18

Prop. Value $100,000 $100,000

Rollback x 0.556259 0.569391

Tax Rate x 0.01276973 0.01427271

Gross Tax = $ 710.33 $ 812.68

Est. Homestead - $ 62.00 $ 62.53

Net Tax = $ 648.33 $ 750.15

Change w/o Debt Service $ 34.18

Debt Service $ 67.64

Total Change $ 101.82

PROJECTED RESIDENTIAL PROPERTY TAX

March 27, 2017 – Establish Proposed Budget

March 29, 2017 – Publish Proposed Budget

April 10, 2017 – Public Hearing & Adoption of Budget

April 17, 2017 – File Budget with County Auditor

2017/18 BUDGET TIMELINES

Iowa Code Section 24.9

Budget estimates adopted and certified in accordance with this chapter may

be amended and increased as the need arises ...... to permit appropriation and

expenditure during the fiscal year covered by the budget of amounts of cash

anticipated to be available during the year from sources other than taxation

and which had not been estimated and appropriated for expenditure during

the fiscal year of the budget sought to be amended.

Iowa Code Section 257.7(2)

If actual miscellaneous income for a budget year exceeds the anticipated

miscellaneous income in the certified budget for that year …… a school

district may amend its certified budget.

2016/17 SCHOOL BUDGET AMENDMENT

Amendment to 2016-17 Budget

Instruction

Amend expenditures from $40,700,355 to $41,444,549

TLC Grant, technology equipment & staffing due to increased enrollment

Total Support Services


Technology equipment & staffing due to increased enrollment

Non-instructional Programs

No Change

Other Expenditures


Refinancing of Series 2011 revenue bonds & construction projects

Public hearing required

2016/17 SCHOOL BUDGET AMENDMENT

March 27, 2017 – Establish Proposed Budget Amendment

March 29, 2017 – Publish Proposed Budget Amendment

April 10, 2017 – Public Hearing & Adoption of Budget

Amendment

April 17, 2017 – File Budget Amendment with County Auditor

2016/17 BUDGET AMENDMENT TIMELINES

QUESTIONS?

Documents

Cedar Falls Community School District 2011-12 Budget ......State Rank School District 2016/17 RPDC 2016/17 RPDC/P 10/1/16 Count 2017/18 RPDC Dollar Growth % Growth Per Pupil Growth