2015-2016 Annual Budget
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ProvoCitySchoolDistrict 280 West 940 North Provo, UT 84604 (801) 374-4800 | www.provo.edu | H SC OOL ITY D C IS O T R V KNOWLEDGE I O IS C POWER R T P 1 8 9 8 SCHOOL ITY D C IS O T R V KNOWLEDGE I O IS C POWER R T P 1 8 9 8 Annual Budget 2015-16 Provo City School District 280 West 940 North Provo, UT 84604 This book is optimized for onscreen viewing. For best results, choose “two page display” in your pdf reader. II Provo City School District H SC OOL ITY D C IS O T R V KNOWLEDGE I O IS C POWER 280 West 940 North R T P Provo, UT 84604 1 8 9 8 2015-16 Annual Budget For Fiscal Year Ending June 30, 2016 Keith Rittel Superindendent of Schools Stefanie Bryant, CPA Business Administrator Budget Recognition Association of School Business Officials International(ASBO) The Association of School Business Officials International (ASBO) awarded theMeritorious Budget Award for excellence in the preparation and issuance of a 2014-15 school system annual budget to Provo City School District. The Meritorious Budget Awards Program was designed by ASBO International and school business management professionals to enable school business administration to achieve excellence in budget presentation. The Meritorious Budget Award, sponsored by ING, is only conferred on school systems that have met or exceeded the Meritorious Budget Award Program Criteria. We believe our current FY 2015-16 budget also complies with ASBO’s Meritorious Budget Award standards, and we will be submitting the budget in an effort to win the award again. Government Finance Officers Association (GFOA) The Government Finance Officers Association of the United States and Canada (GFOA) presented a Distinguished Budget Presentation Award to Provo City School District, Utah for its annual budget for the fiscal year beginning July I, 2014, and ending June 30, 2015. In order to receive this award, a governmental unit must publish a budget document that meets program criteria as a policy document, as an operations guide, as a financial plan, and as a communications device. This award is valid for a period of one year only. We believe our current budget continues to conform to program requirements, and we are submitting it to GFOA to determine its eligibility for another award. Note Regarding this Book This book has been designed to act as a resource for the public, students, parents, and employees. It is divided into four sections: Introductory, Organizational, Financial, and Informational. The budget year represented is Fiscal Year 2015-16, although the year might be represented as FY 2016, FY16, or 2015-16, depending on the context of the information being presented and space constraints. These variations of the fiscal year or school year are used interchangeably. The District name may be listed throughout the book as Provo City School District, Provo School District, or in some cases Provo (when compared to other districts), depending on context and space requirements. These names are also used interchangeably. For best results, choose “two-page display” in your pdf viewer. IV V VI “Education is the most powerful weapon you can choose to change Based on KSL®,the Deseret world.” News® and Deseret Digital Media® 2011 Top 10 Rankings -Nelson Mandela VII VIII 8 “Education brings about opportunity, and in turn inspiration.” -Bill Frist IX INTRODUCTORY SECTION 1 Executive Summary 2 Organizational Component Elected and Appointed Officials 5 Budget Message 6 Goals and Objectives 9 Budget Process 14 Allocation of Resources 16 Financial Component Fund Summaries 17 Revenue & Expense Trends 18 Informational Component Budget Forecast 21 Property Taxes 22 Long-term Debt 23 Enrollment 24 Personnel Resources 25 Benchmark Data 26 ORGANIZATIONAL SECTION 29 The District Entity 30 Voter Precincts 31 Provo School District Elementary School Boundaries 32 District Departments 33 Organizational Chart 36 Goals, Planning, and Achievement 38 Long-range 20/20 Plan: Seven Guiding Principles 39 Long-range 20/20 Plan: Imperatives 40 District Improvement Plan: The Provo Way 41 District Improvement Plan: The Planning Process 43 District Improvement Plan: Plan Organization 44 District Improvement Plan: Goals and Actions 45 Departmental Goals 52 District Goals: Financial Impacts 55 District Mission Statement 57 The Budgeting Process 58 Significant Laws Affecting this Budget 59 Financial and Budget Administration Policies 61 Budget Development and Review Process 63 Budget Administration and Management Process 64 Balanced Budget: Definition 64 Budget Approval and Adjustment Process 65 Budget Timeline 66 Budget Process: Stakeholder Involvement 67 Key Revenue & Expenditures 68 Budget Development: Key Factors 71 Method of Classifying Revenue & Expenditures 72 X Impact of Planning Processes on the Budget 73 District Funds: Description 74 Relationship Between Funds and District Departments 75 Expenditure Functions: An Explanation 76 FINANCIAL SECTION 79 Major Revenue Sources 80 Revenue Projection Assumptions 81 Major Revenue Sources: State of Utah 82 Major Revenue Sources: Local 86 Major Revenue Sources: Federal 88 Financial Schedules and Charts 90 Expenditure Comparison by Function: All Funds 91 Budget Summary: Revenue by Source and Expenditures 92 Expenditures: Fund and Object 93 Budget Summaries Summary of Budgets: All Funds 94 Summary of Budgets: Operating Funds 95 Summary of Budgets: General Fund 96 Summary of Budgets: Capital Projects Fund 97 Summary of Budgets: Debt Service Fund 98 Summary of Budgets: Student Activity Fund 99 Summary of Budgets: Non K-12 Fund 100 Summary of Budgets: Building Reserve Fund 101 Summary of Budgets: Food Service Fund 102 Summary of Budgets: Tax Increment Fund 103 Fund Balance Information GASB 54 Fund Balance Classifications 104 Fund Balance Adjustment Schedule 105 Statement of Changes to Fund Balance (Equity) 106 Major Revenue and Expenditures by Fund: Major Funds 107 Major Revenue and Expenditures: General Fund 108 Major Revenue and Expenditures: Capital Projects Fund 116 Major Revenue and Expenditures: Debt Service Fund 119 Major Revenue and Expenditures by Fund: Non-major Funds 120 Major Revenue and Expenditures: Student Activity Fund 121 Major Revenue and Expenditures: Non K-12 Fund 122 Other Financing Sources (Uses): Building Reserve Fund 124 Major Revenue and Expenditures: Food Service Fund 125 Major Revenue and Expenditures: Tax Increment Fund 127 Capital Projects and Debt Service 129 Capital Expenditures: Definition 130 Significant Capital Expenditures: Bond Construction 130 Significant Capital Expenditures: Bond Considerations 131 XI Effect on Operations: Bond Considerations 137 Other Significant Capital Expenditures: Non-routine 139 Capital Improvement Plan: Long-term Outlook 139 Short-Term Capital Improvement List 140 Debt Obligations 142 General Obligation Debt: Actual to Limit 144 INFORMATIONAL SECTION 147 Demographic and Economic Profile 148 Provo: Past and Present 149 Utah Economic Environment 151 Historical Populations: Utah County and Provo City 153 Birth Rates: Utah County - Utah - U.S. 154 Provo: Information and Attractions 155 Largest Employers: Provo, Largest Taxpayers in Utah County 156 Employment Statistics: Utah County 157 Provo City Assessed Valuation & Property Tax Information Assessed Market Value 158 Property Tax Information: Provo City 159 Basis of Budget Forecast: Revenues 165 Basis of Budget Forecast: Expenditures 166 Budget Forecasts 167 Debt: General Obligation Bonds 175 Debt: Amortization Schedule 176 Statistics and Performance Measures 179 Personnel Resource Allocation: Full-time Equivalents 180 Student Enrollment 181 District Facilities 186 Per Pupil Expenditures 191 Median Class Sizes: State of Utah 192 Student Demographics 193 Demographics: District School Lunch Participation 194 Food Services Program Costs and Data 195 Transportation: Costs and Statistics 196 Innovation: eSchool 197 Compensation: Median Pay Comparison 198 Health Insurance: Cost and Statistics 199 Student Assessment and Performance 200 Student Performance: PACE 202 Student Performance: UCAS 204 Student Performance: SAGE 206 Student Performance: Advanced Placement & ACT 210 High School Graduation Rates: 212 Glossary 213 XII 12 This page left intentionally blank. Introductory Section Introductory Section IntroductorySection Provo City School District Introductory Section H Y SC OOL IT D C IS O T R V KNOWLEDGE I O IS C POWER R T Executive Summary P 2015-16 Annual Budget 1 8 9 8 Introductory Section Introductory Section 2 Introductory Section Introductory Section This page left intentionally blank. 3 Introductory Section Introductory Section Organizational Board of Education Top (left to right): Keith Rittel, Julie Rash, McKay Jensen, Michelle Kaufusi, Jim Pettersson, Stefanie Bryant Bottom (left to right): Taz Murray, Marsha Judkins, Shannon Poulsen Introductory Section Introductory Section 4 Provo City School District: Elected and Appointed Officials 2015-16 Introductory Section Introductory Section Julie Rash – President Keith Rittel Amelia Earhart Ryan McCarty District 5 Superintendent Canyon Crest Darren Johnson Email: [email protected] Initial Appointment: 2012 Edgemont Doug Finch Franklin Kim Hawkins McKay Jensen - Vice Stefanie Bryant, C.P.A. Lakeview Drew Daniels President Business Administrator Provo Peaks Geo Guzman District 3 Initial Appointment: 2014 Provost Dr. Steve Oliverson Email: [email protected] Rock Canyon Dean Nielsen Gary Wilson Spring Creek Jill Franklin Asst. Superintendent Sunset View Clint Smith Taz Murray Board of Education Executive Direct of Student