ProvoCitySchoolDistrict 280 West 940 North Provo, UT 84604 (801) 374-4800 | www.provo.edu | SCHOOL ITY D C IS O T R V KNOWLEDGE I O IS C POWER R T P 1 8 9 8 Annual Budget 2016-17 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 2016-17 Annual Budget For Fiscal Year Ending June 30, 2017 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 2015-16 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 2016-17 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, 2015, and ending June 30, 2016. 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 2016-17, although the year might be represented as FY 2017, FY17, or 2016-17, 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 This Meritorious Budget Award is presented to PROVO CITY SCHOOL DISTRICT For excellence in the preparation and issuance of its budget for the Fiscal Year 2015-2016. The budget adheres to the principles and standards of ASBO International’s Meritorious Budget Award criteria. Mark C. Pepera, MBA, RSBO, SFO John D. Musso, CAE, RSBA President Executive Director V VI “Tell me and I’ll forget. Show me and I may remember. Involve Basedme on KSL®, and Deseret I learn.” News® and Deseret Digital Media® 2011 Top 10 Rankings -Benjamin Franklin VII VIII 8 “Intelligence plus character - that is the goal of true education.” -Martin Luther King Jr. 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 59 The Budgeting Process 60 Significant Laws Affecting this Budget 61 Financial and Budget Administration Policies 63 Budget Development and Review Process 65 Budget Administration and Management Process 66 Balanced Budget: Definition 66 Budget Approval and Adjustment Process 67 Budget Timeline 68 Budget Process: Stakeholder Involvement 69 Key Revenue & Expenditures 70 Budget Development: Key Factors 73 Method of Classifying Revenue & Expenditures 74 X Impact of Planning Processes on the Budget 75 District Funds: Description 76 Relationship Between Funds and District Departments 77 Expenditure Functions: An Explanation 78 FINANCIAL SECTION 81 Major Revenue Sources 82 Revenue Projection Assumptions 83 Major Revenue Sources: State of Utah 84 Major Revenue Sources: Local 88 Major Revenue Sources: Federal 90 Financial Schedules and Charts 92 Expenditure Comparison by Function: All Funds 93 Budget Summary: Revenue by Source and Expenditures 94 Expenditures: Fund and Object 95 Budget Summaries Summary of Budgets: All Funds 96 Summary of Budgets: Operating Funds 97 Summary of Budgets: General Fund 98 Summary of Budgets: Capital Projects Fund 99 Summary of Budgets: Debt Service Fund 100 Summary of Budgets: Student Activity Fund 101 Summary of Budgets: Non K-12 Fund 102 Summary of Budgets: Building Reserve Fund 103 Summary of Budgets: Food Service Fund 104 Summary of Budgets: Tax Increment Fund 105 Fund Balance Information GASB 54 Fund Balance Classifications 106 Fund Balance Adjustment Schedule 107 Statement of Changes to Fund Balance (Equity) 108 Major Revenue and Expenditures by Fund: Major Funds 109 Major Revenue and Expenditures: General Fund 110 Major Revenue and Expenditures: Capital Projects Fund 118 Major Revenue and Expenditures: Debt Service Fund 121 Major Revenue and Expenditures by Fund: Non-major Funds 122 Major Revenue and Expenditures: Student Activity Fund 123 Major Revenue and Expenditures: Non K-12 Fund 124 Other Financing Sources (Uses): Building Reserve Fund 126 Major Revenue and Expenditures: Food Service Fund 127 Major Revenue and Expenditures: Tax Increment Fund 129 Capital Projects and Debt Service 131 Capital Expenditures: Definition 132 Significant Capital Expenditures: Bond Construction 132 Significant Capital Expenditures: Bond Considerations 133 XI Effect on Operations: Bond Financial Considerations 139 Effect on Operations: Bond Non-Financial Considerations 142 Other Significant Capital Expenditures: Non-routine 143 Capital Improvement Plan: Long-term Outlook 143 Short-Term Capital Improvement List 144 Debt Obligations 146 General Obligation Debt: Actual to Limit 149 INFORMATIONAL SECTION 151 Demographic and Economic Profile 152 Provo: Past and Present 153 Utah Economic Environment 155 Historical Populations: Utah County and Provo City 157 Birth Rates: Utah County - Utah - U.S. 158 Provo: Information and Attractions 159 Largest Employers: Provo, Largest Taxpayers in Utah County 160 Employment Statistics: Utah County 161 Provo City Assessed Valuation & Property Tax Information Assessed Market Value 162 Property Tax Information: Provo City 163 Basis of Budget Forecast: Revenues 169 Basis of Budget Forecast: Expenditures 170 Budget Forecasts 171 Debt: General Obligation Bonds 179 Debt: Amortization Schedule 180 Statistics and Performance Measures 183 Personnel Resource Allocation: Full-time Equivalents 184 Student Enrollment 186 District Facilities 190 Per Pupil Expenditures 195 Median Class Sizes: State of Utah 196 Student Demographics 197 Demographics: District School Lunch Participation 198 Food Services Program Costs and Data 199 Transportation: Costs and Statistics 200 Innovation: eSchool 201 Compensation: Median Pay Comparison 202 Health Insurance: Cost and Statistics 203 Student Assessment and Performance 204 Student Performance: SAGE 206 Student Performance: Advanced Placement & ACT 212 High School Graduation Rates: 214 Glossary 215 XII 12 This page left intentionally blank. Introductory Section Introductory Section IntroductorySection Introductory Section Provo City School District Executive Summary FY Introductory Section 2016-17 Introductory Section 2 Introductory Section Introductory Section Provo City School District 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 2016-17 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