Great Valley School District Fiscal Year 2018-2019 47 Church Road, Malvern, Ches ter County, Pennsylvania 19355 610-889-2100 WWW.GVSD.ORG Great Valley School District Malvern, Pennsylvania 19355 www.gvsd.org Budget for fiscal year 2018-2019 Prepared by Regina Speaker-Palubinsky, Ed.D. District Superintendent Charles E. Linderman, RSBA Director of Business Affairs Dolores D’Amore, PRSBA Assistant Director of Business Affairs GREAT VALLEY SCHOOL DISTRICT BUDGET 2018-2019 T A B L E O F C O N T E N T S INTRODUCTORY SECTION: Executive Summary 1 Meritorious Budget Award 14 Board of School Directors 15 List of District Administrators 16 Buildings and Administrators 17 Consultants and Advisors 17 ORGANIZATIONAL SECTION: Legal Autonomy 18 Geographic Area 19 Educational Programs 19 Facilities 20 Accounting Policies 20 Budget Goals and Objectives 24 Budgeting Policies and Process 26 Organizational Chart 28 Budget Calendar 29 Budget Development Flow Chart 30 FINANCIAL SECTION: Financial Section Contents 35 Governmental and Proprietary Funds Summary of All Budgets 36 General Fund Budget Summaries Summary of Revenues and Expenditures 37 Summary of Expenditures and Other Financing Uses 38 Comparison of Revenues 39 Comparison of Expenditures 40 General Fund - Revenue Budget Revenue Summaries and Explanations 44 Comparison of Revenues 45 Revenue Explanations 46 General Fund – Fund Balance Explanation 49 Fund Balance Analysis 50 Fund Balance Historical Analysis/Chart 51 Fund Balance History 52 General Fund - Expenditure Budget Instructional - 1000 Series 53 Support Services - 2000 Series 61 Operation of Non-Instructional Services - 3000 Series 86 Other Outlays - 5000 Series 93 Other Financing 95 Fund Transfers 96 Budget Reserve 102 i GREAT VALLEY SCHOOL DISTRICT BUDGET 2018-2019 T A B L E O F C O N T E N T S FINANCIAL SECTION: (continued) Capital Project Fund - Budget Summary Capital Project Fund Explanation 103 Capital Project Fund Summaries 105 Capital Project Fund – Revenue 106 Capital Project Fund – Expenditures 107 Major Capital Expenditures - 5 Year Projection 108 Capital Reserve/Project Fund Plans 109 Five Year Staffing Projections 113 Debt Service Fund - Budget Summary Debt Service Fund – Explanation 115 Debt Service Fund – Summaries 116 Debt Service Fund – Revenues 117 Debt Service Fund – Expenditures 118 Proprietary Fund - Budget Summary Proprietary Fund – Explanation 119 Proprietary Fund - Budget of Revenues and Expenses 120 Proprietary Fund - Operating Statement Budget 121 INFORMATIONAL SECTION: Five Year Comparison of Revenues - By Function 122 Five Year Comparison of Expenditures - By Function 123 Five Year Comparison - By Object 127 Five Year Comparison of Revenues and Expenditures By Source/Major Function 128 General Fund Revenues - By Source - Ten Years 129 General Fund Expenditures - By Function - Ten Years 130 Five Year Revenue and Expenditure Forecast – General Fund 131 Five Year Budget Projection Summary 133 Five Year Comparison of Expenditures by Function – Capital Project 134 Five Year of Expenditure Forecast – Special Revenue Fund 135 Capital Reserve/Project Fund – Sources and Uses 10 Year Plan 136 Enrollment Projections 137 The Cohort Survival Method 138 Enrollment History and Projections 139 Future Prospects 144 Demographic Statistics - Enrollment/Staffing 145 Professional Employees' Salary Matrix 146 Personnel Distribution - Budget 147 Assessed Values - Residential Analysis 148 Taxpayer Analysis (Pie Chart) 149 Tax Bill Comparison for Average Homeowner 150 Assessed and Market Value of Taxable Property 151 Property Tax Rates - All Direct and Overlapping Governments 152 Budget Increases vs. Millage Increases vs. CPI Increases 153 Principal Property Taxpayers 154 Property Tax Levies and Collections 155 Debt Outstanding Schedule 156 Computation of Nonelectoral Debt Margin 157 ii GREAT VALLEY SCHOOL DISTRICT BUDGET 2018-2019 T A B L E O F C O N T E N T S Performance Measurements Self-Reported Plans of Class of 2017 158 SAT Mean Scores - Last Five Years 159 PA System of School Assessment Results - Last Five Years 160 National Merit Scholarship Recipients 161 Percentage of Graduating Seniors Going to Higher Education 162 Drop Out Rate for Past Five Years 163 GLOSSARY 164 iii GREAT VALLEY SCHOOL DISTRICT GREAT VALLEY SCHOOL DISTRICT INTRODUCTORY SECTION Great Valley School District 47 Church Road Malvern, PA 19355 Phone 610-889-2125, ext. 52123 Fax 610-889-2120 CHARLES E. LINDERMAN [email protected] Director of Business Affairs www.gvsd.org May 14, 2018 Mr. David Barrett, President Members of the Board of School Directors Great Valley School District 47 Church Road Malvern, PA 19355 Dear Board Members: Great Valley School District fiscal year 2018-2019 preliminary budget is attached. The district superintendent and director of business affairs assume responsibility for data accuracy and completeness. The following executive summary presents highlights of the budget. The executive summary will consist of the following three components: 1. Organizational Components: • Mission Statement • Major goals and objectives • Budget process • Changes in the budget process and/or budget policies • Explanation of allocation of human and financial resources to achieve goals and objectives 2. Financial Components: • Overview of revenues and expenditures for all funds • Budget comparisons for current year • Significant trends, events, and initiatives • Explanation of significant financial and demographic changes 3. Informational Components: • Budget forecast • Student enrollment trends • Tax base and rate trends • Staff resources • Changes in debt • Performance results The executive summary will provide the user comprehension of the contents and budget plans for the upcoming year. The contents are a general overview of the current and previous budgets, and planning for the next budget as related to anticipated revenues and expenditures. ORGANIZATIONAL COMPONENT MISSION “The Mission of the Great Valley School District is to ensure that every student is inspired and prepared to be a passionate lifelong learner and a productive invested participant in the local and global community.” Michael E. Detwiler, Sr. Nicole Melia James Abraham Erik Bowers Dolores T. D’Amore Transportation/Attendance Supervisor Food Service Supervisor Supervisor of Buildings and Grounds Supervisor of Information Technology Asst. Director of Business Affairs Extension 52132 Extension 52135 Extension 52137 Extension 52302 Extension 52142 [email protected] [email protected] [email protected] [email protected] [email protected] Great Valley High School • Great Valley Middle School • Charlestown Elementary • Kathryn D. Markley Elementary • General Wayne Elementary • Sugartown Elementary Equal Opportunity Employer The Board of School Directors are responsible for determining the direction of the District and has sets goals as a vehicle to improve the educational program and establish district objectives and priorities; allocating resources, involving the public through budget hearings and school board decisions. The district budget discussions and work involves administrators, school board, staff and community members. STRATEGIC GOALS AND OBJECTIVES 1. We will meet all Every Student Succeeds Act goals. 2. We will develop and utilize the measurement tools. 3. We will create and implement a communications structure. 4. We will provide targeted assistance to students. 5. We will continually engage the community. The budget thus reflects the allocation of revenue and expenditures to support educational programs and services outlined by the district’s mission and goals as detailed through financial and operating policies. It also represents a balance between the educational needs of students and the ability of the community to provide the necessary finanical support. BUDGET PROCESS The Great Valley School District was formed by state law and began operation July 1, 1969. The District is a school district of the third class located in Chester County. The District is an independent reporting entity governed by an elected nine-member board. The board is accountable to its citizenry for all its activities through a system of financial reports and audits, public and state oversight, and of course, the election process. The primary responsibility for the activities of a school district lies with the locally elected school board. While local control has a strong tradition in Pennsylvania, the board must direct the affairs of the school within the framework of the Pennsylvania School Code, other state laws, and various regulations and standards. These regulations and standards are established primarily by the PDE, the State Board of Education, the Pennsylvania State Legislature and other state agencies. The financing and operations of Pennsylvania’s public school districts is a process that involves multiple parties, including local business owners, retirees, parents, residents, taxpayers, school administrators, teachers, staff, and the students themselves. The annual state required budget for the general fund serves as the foundation for the district’s financial planning and control. State law requires that each Pennsylvania school district prepare an annual budget. The Pennsylvania State Legislature has therefore required specific actions for school districts to carry out as part of their budgetary process. The objective of the budgetary controls is to ensure compliance with provisions established in the annual budget approved by the district’s governing board. In the Great Valley