2009-2010 - Linn-Mar Community School District

Total ResourcesBudget2010Re-estimated 2009Actual 2008Avg % 08-10Taxes Levied on Property29,329,09827,924,87024,625,9899.1%Utility Replacement Excise Tax165,565167,400154,9393.4%Income Surtaxes000Tuition\Transportation Received2,176,4302,101,9241,807,499Earnings on Investments287,066414,100885,397Nutrition Program Sales2,274,3172,061,5561,779,627Student Activities and Sales1,074,8891,045,964821,804Other Revenues from Local Sources7,043,3336,999,5427,541,523Revenue from Intermediary Sources001,892State Foundation Aid33,800,18127,806,34426,320,797Instructional Support State Aid251,907229,308220,373Machinery and Equipment Replacement034,759139,036Other State Sources869,8523,951,2042,998,531Title 1 Grants503,495525,032444,462Other Federal Sources1,613,8101,544,4411,993,828Total Revenues79,389,94374,806,44469,735,697General Long-Term Debt Proceeds25,500,0009,632,670399,706Operating Transfers In5,035,5492,822,6942,007,096Proceeds of Fixed Asset Dispositions019,3000Total Revenues & Other Sources109,925,49287,281,10872,142,499Beginning Fund Balance8,128,5738,122,23324,329,956Total Resources118,054,06595,403,34196,472,455

Total RequirementsTotal RequirementsBudget 2010Re-estimated2009Actual 2008Avg % 08-10*Instruction44,823,27141,887,36237,737,9229.0%Student Support Services2,357,9732,215,8871,999,120Instructional Staff Support Services2,788,7182,623,4162,215,836General Administration613,329607,937587,489Building Administration2,941,4222,714,3302,620,698Business Administration1,424,4511,367,6241,391,578Plant Operation and Maintenance5,631,4405,259,0324,757,828Student Transportation2,313,2372,487,7972,281,105Central Support Services000*Total Support Services (lines 24-31)18,070,57017,276,02315,853,6546.8%*Noninstructional Programs3,147,6402,835,0332,548,99911.1%Facilities Acquisition and Construction25,612,00013,971,85913,889,914Debt Service8,776,8066,445,82414,537,565AEA Support - Direct to AEA2,625,7932,285,9732,103,691*Total Other Expenditures (lines 33-35)37,014,59922,703,65630,531,17010.1%Total Expenditures103,056,08084,702,07486,671,745Other Financing Uses: Operating Transfers Out5,035,5492,572,6941,678,477Total Expenditures & Other Uses108,091,62987,274,76888,350,222Ending Fund Balance9,962,4368,128,5738,122,233Total Requirements118,054,06595,403,34196,472,455

Change in Tax Levy2008-20092009 2009-20102010LevyIncrease/DecreaseGENERAL FUND CDC LEVY 10.00421 10.34637 .34176Instructional Support Levy 1.86458 1.85467 -.00991Cash ReserveSpecial Ed. Deficit .61582 .39925 -.21657On-Time Funding .77723 .67530 -.10193Cash Reserve 2.59776 2.29388 -.30388Total General Fund 15.86000 15.56946 -.29053Management Fund 0.65000 0.9000 .25000Physical Plant & Equip. Levy 1.00000 1.0000 .00000Public Ed. Recreation Levy 0.13500 0.1350 .00000Debt Service Levy 2.75633 2.62763 -.12870Total Levy 20.40133 20.23183 -.16924The .16924 levy decrease equates to a 1.83% decrease in overall taxes.

General Fund Levy DecreaseOverall, the General fund Levy is proposed to be decreasedby $.29. The notable changes to the general fund levy areas followed:• The property taxes levy to support the combined district costactually increased by $.34. This is a product of the 4% allowablegrowth set by the state and our growth in enrollment.• The special education deficit decreased by approximately $264,000,0,which lowered the general fund levy asking by $.21.• The cash reserve levy to support the general fund levy is beingproposed to be reduced by $227,000, which lowered the generalfund levy asking by $.30.

Where does the General Fundmoney come from?Other Local5%Property Tax36%State57%Federal2%

Where does the General Fundmoney go?Operation &Maint.8%Student Trans.3%AEA Support4%Building Admin.5%Board/CentralAdmin3%Student/StaffSupport8%Instruction69%

Budget Enrollment70006500600055005000450040002000 2001 2002 2003 2004 2005 2006 2007 2008 2009 20104668 4881 4998 5150 5261 5413 5628 5780 6196 6372 6491

Allowable Growth4.50%4.00%3.50%3.00%2.50%2.00%1.50%1.00%0.50%0.00%'96-'97-'98-'99-'00-'01-'02-'03-'04-'05-'06-'07-'08-'09-'97'98'99'00'01'02'0304'0506070809103.25 3.50 3.50 3% 4% 4% 1% 2% 2% 4% 4% 4% 4% 4%

Management Fund► It is recommended that the management fundlevy be increased by $.25 to an overall levy of$.90.► The breakdown of the $.90:• $.50 is for Property and Casualty Insuranceincluding workers comp.• $.17 for early separation funding• $.23 for fund balance for cash flow purposes, soborrow of funds to meet demands is limited

PERL Fund► PERL is the public education and recreation levy.It is used to support our community ed. programand the construction and upkeep of ourplaygrounds and recreational fields.► It is recommended that we do the maximumlevy of $.135 to help with the construction ofnew playgrounds and the relocation of fields.

Activity Fund► The student activity fund is established toaccount for student-related activities such as fundraisingevents, athletics, and other extra curricular.Revenues are raised from student fees, gateadmissions and fundraisers.► The budget proposes a 3% increase in totalrevenues and a 5% increase in expenditures.

PPEL Fund►This This proposed budget still incorporates the$.33 board approved levy and $.67 voterapproved levy.

Debt Service Fund► The Debt Service Fund is a fund established by the Board forthe repayment of principal and interest for bonds issued forthe construction of new facilities.► The Board has committed to use $1,000,000 of SILO moneyto buy down our principal payment. This will lower our debtservice levy from 3.30 to 2.627, which is below the levy ratethat was in place before the passage of our $27.5 milliondollar bond issue.

Capital Project Fund• Capital projects fund is used to account for therevenues and expenditures associated with theconstruction or remodeling of school facilities.Most often, revenues comes from the sale ofbonds or sales tax proceeds.• The budget being proposed includes the issuanceof approximately $25.5 million in sales tax revenuebonds during the course of the year for thecompletion of the HVAC upgrades, transportationand O & M relocation, Novak Elementary, and HSmain campus/stadium project.

Nutrition Fund► The school nutrition fund is a required fund thatmust be established to account for operations of aschool breakfast or lunch program on a non-profitbasis for It’s students. Revenues are obtainedfrom lunch and breakfast sales, ala carte sales andfederal and state subsidies.► The budget being proposed included an estimated10.2% increase in total revenues, not includingcontributed capital from the purchase ofequipment and a 11% increase in totalexpenditures.

How much will this tax increasecost?LevyRoll-back2008-20092009 20.40133 44.0803%2009-20102010 20.23183 45.5893%Tax IncreaseTax IncreaseHome Valueper Month Home Value per Month100,000 $1.92 230,000 $4.42110,000 $2.11 240,000 $4.61120,000 $2.31 250,000 $4.80130,000 $2.50 260,000 $5.00140,000 $2.69 270,000 $5.19150,000 $2.88 280,000 $5.38160,000 $3.07 290,000 $5.57170,000 $3.27 300,000 $5.76180,000 $3.46 310,000 $5.96190,000 $3.65 320,000 $6.15200,000 $3.84 330,000 $6.34210,000 $4.04 340,000 $6.53220,000 $4.23 350,000 $6.73

Local Levy ComparisonLinn-MarCSDCollegeComm.MarionIndep.MountVernonCedarRapidsFY 09 Taxes$20.40$16.85$15.3117.51$13.78FY 10ProposedTaxes$20.23$17.21$15.2917.51$14.49Income SurtaxFY 090%0%4%5%6%Income SurtaxFY 100%0%4%5%6%IS equiv.Property TaxFY 09$0.00$0.00$1.19$1.58$1.71

Change in Levy for Local Districts0.80.70.60.50.40.30.20.10-0.1-0.2-0.3CedarRapids College Linn-MarMarionMountVernonChange in levy 0.71 0.36 -0.17 -0.02 0Change in levy

Unspent Balance Ratio► The Unspent Balance Ratio measures the amountof cumulative district spending authority not spentat the end of each fiscal year.This ratio is unique to Iowa schools. Iowa schools are fundedaccording to a state formula, which is different than any other in thecountry. Because spending authority is vitally important to thefinancial health of any Iowa school district, the UBR should be lookedat to assess the district’s s fiscal health.► How do you calculate the UBR?(unspent balance ratio=unspent cumulative spending authority/maximumimumbudget authority)► Suggested Minimum Target?• The suggested minimum target is 5%, which similar to solvency ratio andfund balance.

Unspent Balance Ratios25%20%15%10%5%0%-5%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 1113% 14% 15% 17% 19% 17% 16% 20% 19% 22% 16% 10% 4%