Fiscal Year 2019 Adopted Budget & Financial Statements
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FISCAL YEAR 2019 ADOPTED BUDGET & FINANCIAL STATEMENTS Fiscal Year 2018 | Beginning July 1, 2018 | Ending June 30, 2019 Des Moines Public Schools | Des Moines, Iowa 50312 Think. Lear n. Grow. www.dmschools.org | facebook.com/dmschools | twitter.com/dmschools THIS PAGE INTENTIONALLY BLANK FY 2018 - 2019 ADOPTED BUDGET 2 FISCAL YEAR 2019 ADOPTED BUDGET & FINANCIAL STATEMENTS July 10, 2018 BOARD OF DIRECTORS Teree Caldwell-Johnson, Chair Cindy Elsbernd, Vice Chair Heather Anderson Rob X. Barron Dionna Langford Natasha Newcomb Kyrstin Delagardelle Shelley Thomas Ahart, Superintendent Report issued by the Office of Business and Finance Thomas Harper, Chief Financial Officer (515) 242-7745 2323 Grand Avenue Des Moines, Iowa 50312 FY 2018 - 2019 ADOPTED BUDGET 3 The district extends special thanks to the budget development and design team: Casaundra Christensen Emily Truitt Jessica Buchheit Joel Etienne Kevin Oleson Nick Lenhardt Pam Gomez Adam Rohwer FY 2018 - 2019 ADOPTED BUDGET 4 TABLE OF CONTENTS PART 1: Introductory Section ...................................................... 9 Superintendent’s Message .................................................................................................. 11 Organizational Executive Summary ................................................................................. 13 Financial Executive Summary............................................................................................. 30 Informational Executive Summary .................................................................................... 40 PART 2: Organizational Section ................................................ 49 Des Moines: A Vibrant & Diverse City ........................................................................... 51 Des Moines Public Schools: A Leader in Urban Education ......................................... 53 Largest School District in Iowa ....................................................................................... 53 Exceptional Educational Opportunities ......................................................................... 54 Outstanding Workforce .................................................................................................... 55 DMPS School Snapshots .................................................................................................... 59 District Governance & Leadership .................................................................................. 87 School Board........................................................................................................................ 87 Legal Autonomy & Fiscal Independence ........................................................................ 92 First-Level District Administration ................................................................................. 92 Organization Chart ............................................................................................................ 93 Des Moines Public Schools: Vision for the Future ........................................................ 94 District Mission & Goals ................................................................................................... 94 Strategic School Improvement Strategies ..................................................................... 96 District Improvement Initiatives ...................................................................................... 98 Budget Process ................................................................................................................... 113 Budgeting Principals .......................................................................................................... 113 Basis of Budgeting ............................................................................................................. 108 Budget Planning ................................................................................................................. 117 Budget Development ....................................................................................................... 118 Financial Policies, Budgetary Assumptions & Constraints ......................................... 123 Guiding Limitations, Policies & Parameters ................................................................ 123 Assumptions for a Balanced Budget ............................................................................. 128 Financial & Budgetary Constraints ................................................................................ 131 Fund Structures & Descriptions ..................................................................................... 142 Department/Fund Relationship ...................................................................................... 149 FY 2018 - 2019 ADOPTED BUDGET 5 PART 3: Financial Section ........................................................ 151 Summary All Funds ............................................................................................................ 153 Consolidated Fund Financial Schedules ......................................................................... 160 Fund Balances ..................................................................................................................... 161 Governmental Funds ........................................................................................................ 162 Operating Fund Special Revenue Funds Capital Projects Funds Debt Service Fund Proprietary Funds ............................................................................................................. 188 Enterprise Funds Internal Service Funds Fiduciary Funds .................................................................................................................. 207 Private Purpose Trust Funds Revenues & Expenditures ................................................................................................ 220 All Funds ............................................................................................................................. 220 General Fund ..................................................................................................................... 223 Special Revenue Funds ..................................................................................................... 237 Capital Projects Fund ....................................................................................................... 238 Debt Service Fund ............................................................................................................ 239 Enterprise Fund ................................................................................................................. 240 Long-Range Financial Plans .............................................................................................. 241 Purpose ............................................................................................................................... 241 Approach to Financial Planning ...................................................................................... 241 Key Issues ........................................................................................................................... 243 Maintaining the Financial Health of the District ......................................................... 243 General Fund Fiscal Outlook through FY 2023 ......................................................... 246 Capital Projects .................................................................................................................. 249 Capital Expenditures ........................................................................................................ 249 Capital Improvements ..................................................................................................... 251 Impact of Capital Investments........................................................................................ 271 Debt ..................................................................................................................................... 281 Capital Improvements & Bonding ................................................................................. 281 Disclosures .......................................................................................................................... 289 Post-Employment Benefits .............................................................................................. 289 Classification of Fund Balances per GASB 54 ............................................................. 292 FY 2018 - 2019 ADOPTED BUDGET 6 PART 4: Informational Section ................................................ 292 Des Moines Public Schools: At a Glance ...................................................................... 297 Enrollment .......................................................................................................................... 297 District Demographics .................................................................................................... 300 Student Performance Measures..................................................................................... 304 Property Taxes................................................................................................................... 309 Property Tax Rate ............................................................................................................ 309 Impact on Taxpayer ........................................................................................................