BSD 2019-2020 Annual Budget

INFORMATIONAL SECTION The information section presents information about the District including; property assessments and values, and District tax rate calculations, and how tax rates affect average District taxpayers. Also included in this section are details that offer a presentation of the District within the community this includes: Student enrollment history, present and forecasts, District achievement, performance, Timberline High School and recognition, Personnel information and allocation and retention rates, presented with Other in-state-district comparisons and, District information relating to the community; city, county and state information resources. Informational Section Contents Financial ................................................................................................................................................... 96 Demographics ........................................................................................................................................ 116 Achievement Data .................................................................................................................................. 121 Certified/Classified Personnel ................................................................................................................ 128 District Profile ........................................................................................................................................ 134 School Directory/Enrollment ................................................................................................................. 137 2019-2020 School Year Calendar ........................................................................................................... 139 Glossary ................................................................................................................................................. 140 BSD 2019-2020 Annual Budget FINANCIAL MAJOR REVENUE SOURCES The District obtains funds from three principal sources: Local, State, and Federal. Of the District’s total general fund revenue in fiscal year 2019-20, $99,057,027 or 40 percent of revenue is derived from local sources, and $145,174,334 or 58 percent of revenue is derived from state and federal sources. The district utilized $2.18 million of excess fund balance to balance the District's 2019-20 general fund. This was 0.88 percent of the total general fund budget. Property Tax In accordance with Idaho law, ad valorem property taxes are certified to the Board of County Commissioners in September for each calendar year. The District uses the modified accrual basis of accounting for recording property taxes. Property values have continued to increase from their decreased values during the recession, thus allowing the District to increase the amount that can be certified for the general maintenance and operation portion of the budget and remove the temporary supplemental levy that was approved by the voters in 2012. The maintenance and operation tax requested for the general fund is $5.2 million more than the amount certified in 2018-19. The Board continued to maintain a stable levy rate for the collection of taxes necessary to pay debt service obligations related to general obligation bonds sold for facility construction and maintenance. The amount to be certified for the Debt Service Fund will allow the levy rate to stay at 0.07 percent for 2019-20. Interest on Investments Interest is earned on funds the District invests. The State’s Money Management Act states that the entity shall invest its funds based on these principles; 1) safety of principal; 2) need for liquidity and 3) yield on investments. The District has an investment policy that follows these three principles. The District primarily utilizes the State of Idaho investment pool to invest District proceeds, managed by the State Treasurer. The current investment market is at an all-time low for interest earnings. The District anticipates receiving around 2.2 percent from the State Investment Pool in 2019-20. The investment pool has continually invested in safe assets therefore reductions in investment market value have been minimal during this economic downturn. As rates rebound, the District will look for other investment options to increase earnings within the confines outlined in Idaho Code for investing activities. It is anticipated the bond proceeds will earn interest around 2.2% in 2019-20. Other Local Revenues Other local revenue comes from five main sources: tuition charged to participants in special programs, rental of facilities, donations, miscellaneous grants, and Medicaid billings. The District receives tuition from students for summer school programs, night school program, and behind-the-wheel driver education programs. Tuition is also received from other Districts to allow their students to participate in specialized programs offered within our District. Other local revenues include fees for community education, Just for Kids childcare tuition, and full day kindergarten tuition. The District rents its facilities to many organizations, including charging building costs associated with the partnership with the City of Boise for the community recreation centers located in three of the District’s elementary schools. These organizations are charged rent per the District’s rental policy. The District also receives money from the Department of Health and Welfare for eligible services provided to students that qualify for Medicaid. These local sources of revenue account for less than 2% of the total local revenue collections in the General Fund. Informational Section Page 96 BSD 2019-2020 Annual Budget Federal Revenues All federal revenues received are from grants and entitlements. The District receives grants and entitlements for programs such as Title I - Improving the Academic Achievement of the Disadvantaged, Title VI-B IDEA, Applied Technology (Carl Perkins), Title II-Improving Teacher Quality, and various other grants. Title I, Food Service, and IDEA-Special Education funds account for the largest portion of the federal revenue the District receives. Any portion of the grants or entitlements from programs not expended at the end of the fiscal year are unavailable, and are reported as advanced revenues, per accounting principles, to the next fiscal year or returned to the Federal Government. All grant entitlement funds are accounted for in the Special Revenue Funds of the District. Majority of the federal grants are on a reimbursable basis, meaning costs are incurred and then billed to the appropriate funding agency for reimbursement. Use of Fund Balance The District Policy requires that a minimum of 5.5 percent of expenditures budgeted be set aside for fund balance reserve. The fund balance is more than the 5.5 percent Board required contingency. To balance the FY2019-20 budget, $2.18 million dollars of excess fund balance reserve is being used to balance the budget. Even with the use of the $2.18 million from fund balance, the District expects fund balance will still be more than the required fund balance reserve at 5.5 percent. In previous years, the Board of Trustees would transfer excess funds to the Plant Facility fund to use for capital construction or maintenance projects. Because of the uncertainty in the economy, our Board of Trustees determined that these funds should remain in the general fund to assist in meeting general fund obligations. As the economy continues to recover, the Board of Trustees has returned to transferring excess funds to the Plant Facility Fund per recommendations from the District administration. Tax Levy Procedure Prior to the commencement of each fiscal year, the Board is required to prepare and adopt a budget. The District’s tax levy is certified to the Board of County Commissioners in September. One-half of the certified tax levy is due and payable on December 20, with the other half due and payable on June 20 of the following calendar year. The County Treasurer disburses tax receipts to the District approximately one month after the statutory payable dates. Ad Valorem Property Tax Any tax levied for school purposes continues to be a lien on the property against which the tax is levied. The taxing districts determine the levies by certifying a lien on the property against which the tax is levied; also, the taxing districts determine the levies by certifying to the County Commissioners in dollars all bond, interest, and judgment obligations unlimited as to a rate or an amount. Maintenance and operation levies for the District are determined annually as part of the budget process, however, Idaho Code limits the maximum amount that can be certified to 0.00364 times the prior tax year adjusted or actual market value. The following tables illustrate levies applied towards taxable value for the last seven school years. Ad Valorem Tax Levy Rates per $1,000 of Taxable Assessed Value Tax Year M & O Supplemental Tort/Judgment Bond Total Levy 2010-11 0.0041715 0.0007257 0.0000308 0.0006500 0.0055780 2011-12 0.0039732 0.0007918 0.0000345 0.0007000 0.0055019 2012-13 0.0036978 0.0016717 0.0000367 0.0007000 0.0061112 2013-14 0.0031121 0.0015631 0.0000356 0.0007000 0.0057096 2014-15 0.0034497 0.0010722 0.0000111 0.0007000 0.0052329 2015-16 0.0034890 0.0008480 0.0000113 0.0007004 0.0050487 2016-17 0.0034394 0.0007825 0.0000072 0.0007000 0.0049291 2017-18 0.0034094 0.0005388 0.0000107 0.0007000 0.0046589 2018-19 0.0034770 0.0001417 0.0000101 0.0007000 0.0046588 2019-20* 0.0031900 0.0004050

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