Adopted Budget 2020-2021 www.westminsterpublicschools.org | 7002 Raleigh Street | Westminster CO 80030 ADOPTED BUDGET | 2020-2021 TABLE OF CONTENTS EXECUTIVE SUMMARY SUPERINTENDENT BUDGET MESSAGE ................................................................................ 1 FINANCIAL SERVICES TRANSMITTAL LETTER ...................................................................... 3 ACKNOWLEDGEMENTS AND AWARDS ................................................................................. 5 BOARD OF EDUCATION ...................................................................................................... 7 CENTRAL OFFICE ADMINISTRATION ................................................................................... 8 DISTRICT ORGANIZATION................................................................................................... 8 BUDGET SUMMARY ......................................................................................................... 10 BUDGET FORECAST ........................................................................................................ 28 SIGNIFICANT EVENTS ...................................................................................................... 31 ORGANIZATIONAL SECTION PROFILE OF GOVERNMENT .............................................................................................. 37 SERVICES AND PROGRAMS OFFERED .............................................................................. 37 DISTRICT BOUNDARY MAP .............................................................................................. 38 VISION, MISSION, AND CORPORATE VALUES..................................................................... 40 DISTRICT GOALS AND STRATEGIES .................................................................................. 41 DISTRICT ORGANIZATIONAL STRUCTURE .......................................................................... 47 BUDGET BASIS ............................................................................................................... 75 FUND ACCOUNTING ......................................................................................................... 76 CHART OF ACCOUNTS ..................................................................................................... 78 BUDGET PROCEDURES .................................................................................................... 81 BOARD OF EDUCATION GOALS ........................................................................................ 82 SIGNIFICANT BUDGET DEVELOPMENT STATUES, POLICIES AND GUIDELINES ...................... 84 BUDGET DEVELOPMENT CALENDAR................................................................................. 91 FINANCIAL SECTION SUMMARY OF TOTAL BUDGET ......................................................................................... 93 GENERAL FUND .............................................................................................................. 97 REVENUE ASSUMPTIONS AND PLANNING CRITERIA ..............................................98 EXPENDITURE ASSUMPTIONS ..........................................................................104 OTHER DISTRICT FUNDS................................................................................................ 120 RISK MANAGEMENT........................................................................................120 COLORADO PRESCHOOL .................................................................................121 NUTRITION SERVICES .....................................................................................122 GOVERNMENTAL DESIGNATED PURPOSE GRANT ...............................................123 STUDENT ATHLETICS AND ACTIVITY .................................................................124 DAYCARE ......................................................................................................126 BOND REDEMPTION FUND...............................................................................127 GENERAL OBLIGATION DEBT ...........................................................................128 LEGAL DEBT CALCULATION .............................................................................128 Table of Contents i ADOPTED BUDGET | 2020-2021 TABLE OF CONTENTS FINANCIAL SECTION continued DEBT SERVICES CERTIFICATES OF PARTICIPATION ............................................ 129 CAPITAL RESERVE FUND ................................................................................ 130 CAPITAL IMPROVEMENT PLAN/PROJECTS ......................................................... 131 CERTIFICATES OF PARTICIPATION.................................................................... 132 SCHOOL ACTIVITY FUND ................................................................................ 133 PROJECTS AND CONTRACTS OVER $50,000 .................................................................. 134 CONSOLIDATED BUDGET SUMMARY ............................................................................... 136 THREE-YEAR FORECAST ............................................................................................... 144 INFORMATIONAL SECTION ECONOMIC OUTLOOK .................................................................................................... 147 DEMOGRAPHICS AND PROPERTY TAX INFORMATION ....................................................... 149 SCHEDULE OF BOND PAYMENTS .................................................................................... 153 DISTRICT ENROLLMENT INFORMATION ........................................................................... 155 DISTRICT ACHIEVEMENT ................................................................................................ 157 STAFFING SUMMARY ..................................................................................................... 162 SALARY SCHEDULES .................................................................................................... 164 BUDGET POLICIES ........................................................................................................ 169 ABBREVIATIONS & GLOSSARY ....................................................................................... 183 ii Table of Contents EXECUTIVE SUMMARY ADOPTED BUDGET | 2020-2021 EXECUTIVE SUMMARY SUPERINTENDENT BUDGET MESSAGE ............................................................................... 1 FINANCIAL SERVICES TRANSMITTAL LETTER ..................................................................... 3 ACKNOWLEDGEMENTS AND AWARDS ................................................................................ 5 BOARD OF EDUCATION ..................................................................................................... 7 CENTRAL OFFICE ADMINISTRATION ................................................................................... 8 DISTRICT ORGANIZATION .................................................................................................. 8 BUDGET SUMMARY ........................................................................................................ 10 BUDGET FORECAST ....................................................................................................... 28 SIGNIFICANT EVENTS...................................................................................................... 31 Superintendent’s Budget Message June 23, 2020 Board of Education Westminster Public Schools 7002 Raleigh Street Westminster, Colorado 80030 Transmittal of the Adopted Budget for Fiscal Year 2020-2021 I am pleased to submit to you the Adopted Budget for the fiscal year 2020-2021. This Adopted Budget has been developed in compliance with Colorado laws and regulations. Projections for funded pupil count and certified mill levies are the basis for the development of this budget. These variables will be known with certainty in November and December 2020, and the budget will be adjusted accordingly. You will find all of the information related to budget development goals, revenue and expenditure assumptions, prior year comparison data and compliance requirements for each district fund in various sections of this document. The process used in the development of this budget is intended to assure alignment of our fiscal resources with the District’s mission and policies, along with the targets and goals adopted by the Board of Education. Since our resources are limited, it is critical that we focus on continuation and improvement of academic achievement. In keeping in line with our budget, Westminster Public Schools has set a bold five-part vision to achieve in five years: Vision 1. Westminster Public Schools’ Identity articulates the Mission, Values and Vision that are shared by the District and community, enabling it to demonstrate outstanding quality that transcends the boundaries of the classroom walls and is personified in our staff and students. Vision 2. Westminster Public Schools is an educational leader whose priority is to seek high academic standards, support innovative instructional programs and practices, increase academic achievement, and develop our students’ learning skills. Vision 3. Westminster Public Schools supports the personal, social, financial literacy, career exploration and development of our students in order to ensure each is professionally prepared. Vision 4. Westminster Public Schools provides functional and safe infrastructure and facilities, which make a significant contribution to a positive student