EvansvilleVanderburghSchoolCorpora2on

2018BudgetPresenta2onAugust14,2017

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Board Approval Required

2018 Funds 2018 Property Tax Supported

General

Rainy Day

Capital Projects Capital Projects

Transportation Operating Transportation Operating

Bus Replacement Bus Replacement

Debt Service and Exempt Debt Service Debt Service and Exempt Debt Service

Art Institute Art Institute

Historical Society Historical Society

2018Budget

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2018 Budget Assumptions

1. Enrollment projections reflect 2016-2017 levels.

2. The majority of the cost of utilities will continue to be paid from the Capital Projects Fund per state statute.

3. No increase is necessary for Health Insurance.

2018Budget

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Revenue

2018 Basic Tuition Support Factors I.C. 20-43

•  Basic Tuition Support •  Honors •  Special Education •  Vocational Education •  Complexity Index

2018 Budget

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2018Budget

Funding Formula

2018

1. Basic Tuition Support $117,851,550

2 Academic Honors Diploma 476,600

3. Special Education (Based on Exceptionality) 11,360,640

4. Vocational Education (Based on Course) 1,966,350

5. Complexity Grant 22,344,860

TOTAL $154,000,000

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2018 Budget

General Fund State and Local Source Revenue

1. Summer School 250,000

2. Transfer Tuition 400,000

3. Local Revenue, Fees, and Interest

9,280,000

TOTAL $9,930,000

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2018 Budget

General Fund

Revenue Total

Basic Grant 154,000,000

Miscellaneous State and Local 9,930,000

TOTAL $163,930,000

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Permissible General Fund Expenditures

Salaries and Fringe Benefits of

Teachers Administrators Custodians/Maintenance Support Staff

ü

Purchased Services ü

Supplies ü

2018 Budget

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2018 Budget

2018 Budget

General Fund Expenditures Category Percentages

2016

Budget 2017

Budget 2018

Budget 1. Academic Achievement 73.92% 73.62% 73.40% 2. Instructional Support 4.56% 4.54% 4.77%

Subtotal - Instruction 78.48% 78.16% 78.17%

3. Overhead & Operational 21.52% 21.84% 21.83% 4. Non-Operational 0.00% 0.00% 0.00%

TOTAL

100.0%

100.0%

100.0%

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2018 Budget

Rainy Day Fund

2018 Budget

Personal Services $6,812,018

TOTAL $6,812,018

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2018 Budget

Levy Funds Revenue Source

Property Tax ü

Miscellaneous Taxes:

•  Motor Vehicle Excise Tax ü

•  Commercial Vehicle Excise Tax ü

•  Financial Institutions Tax ü

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2018Budget

Assessed Value

EVSC

2011 – Pay 2012 $6.7 billion

2012 - Pay 2013 $6.2 billion

2013 – Pay 2014 $6.5 billion

2014 – Pay 2015 $6.5 billion

2015 – Pay 2016 $6.6 billion

2016 – Pay 2017 $6.7 billion

2017 – Pay 2018 $6.7 billion (TBD)

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2018 Budget

Capital Projects Fund (CPF)

Capital Projects Plan – Three-Year Plan ü

Rate-Driven Fund – Rate Established by State ü

Construction/Improvements Building Construction Building Renovation Building Repair Building Maintenance

ü

Equipment and Technology Equipment/Technology Purchases Equipment/Technology Repair

ü

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2018 Budget

Capital Projects Detail2018

Improvements and Replacements:

Construction/Improvements 18,116,593* Lease/ Purchase 2,483,000

Utilities 4,651,747

Technology 3,250,660

Equipment 2,438,000

Skilled Labor 1,000,000

Emergency Allocation 400,000

Total $32,340,000

*We are asking for the authority to spend $32.3M dollars which includes $9.0M for the new school.

$9,000,000

Anticipated 2018 Budget (request for new funding) $23,340,000 15

2018 Budget

2018 Capital Projects Plan

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2018Budget

Debt Service - Regular

2018 Expenditure Budget

Debt Service – Regular 13,124,607

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2018Budget

Debt Service - Exempt

2018 Expenditure Budget

Debt Service – Exempt 12,451,000

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2018 Budget

Transportation Funds

Transportation Operating Bus ReplacementFunding level is determined by State Regulation and increases due to the provided growth quotient of 4% in 2018

12 year Replacement Plan

Statutory provision for Fair Market Lease

Budget - $15,728,647 Budget - $8,203,865 We anticipate receiving $2,616,638 based on the maximum levy.

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2018Budget

Bus Replacement Plan Eligibility* 2018

Fifty-Eight 72-Passenger Buses 6,206,000

Six Ambulatory Buses 726,0000

One 42 Passenger Tour Bus 200,000

One Conforming Vehicle 65,000

Five Additional Conforming Vehicles 300,000

Fair Market Lease Value 706,865

TOTAL $8,203,865

*We anticipate receiving $2,616,638 based on the levy provided to EVSC in which we will purchase Eighteen 72-passenger buses, One 42 Passenger Tour Bus and the statutory provision of Fair Market Lease.

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2018Budget

Art Institute Fund

Funding to The Arts Council of Southwestern Indiana ü

To provide ongoing programs for our students ü

Rate-driven Fund – Rate established by State ü

Budget - $375,000 ü

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2018Budget

Historical Society Fund

Assist in the preservation of Vanderburgh County Historical Structures

ü

Rate-driven Fund – Rate established by State ü

Budget - $375,000 ü

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2018Budget Advertised Budgets Anticipated Funding

General Fund 163,922,358 163,922,358

Capital Projects Fund 32,340,000

21,829,804

Bus Transportation Fund 15,728,647 15,728,647

Bus Replacement Fund 8,203,865 2,616,638

Debt Service – Regular 13,124,607 13,124,607

Debt Service – Exempt 12,451,000 12,451,000

Art Institute Fund 375,000 311,089

Historical Society Fund 375,000 311,089

Rainy Day 6,812,018 0

TOTAL $253,332,495 $230,295,232 23

2018Budget

2017 School Corporation Tax Rates for the 5 largest Indiana School Districts

Hamilton Southeastern 1.2616

South Bend 1.2049

Fort Wayne 1.0113

Indianapolis Public Schools .9735

EVSC .9061

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2018Budget

�  August 28, 2017 Board Meeting- Budget Review and Permission to Advertise Budget

�  August 30, 2017 Date of Publication of the 2018 Proposed Budget, Bus Replacement Plan, and Capital Projects Fund.

�  September 11, 2017 Board Meeting – Public Hearing of Proposed 2018 Budget, Bus Replacement Plan and Capital Projects Fund

�  September 25, 2017 Board Meeting – Proposed 2018 Budget, Bus Replacement Plan, and Capital Projects Plan Adopted by the Board at Public Meeting

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