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2016/2017
Jeffco Public Schools Board of Education Meeting – May 5, 2016
Development Update Proposed Budget
BUDGET
Discussion Overview Timeline Jeffco and State Funding General Fund Reserves Other Funds Appropriations Final Steps Resolution List
Timeline MAY 2016 JUNE 2016
MAY 5 BOE MEETING • Presentation of proposed
budget based on BOE direction from April 7
• BOE revisions (if needed)
• Public Hearing ACTION: Board approval of proposed budget for adoption at the regular BOE meeting on June 2
JUNE 2 BOE MEETING • Budget Adoption ACTION: Board adoption and appropriation of the budget
1.2% inflation plus growth
$77 million negative factor remains at 2015/2016 level
State Funding
School Finance Act
Pending
Jeffco’s Total Per Pupil Revenue
6,637
6,309 6,317 6,482
6,850 7,126 7,237
$5,000
$6,000
$7,000
$8,000
*2016/2017 assumes the negative factor remains at the 2015/2016 level of $855M and enrollment stays flat compared to 2015/2016.
GENERAL Fund
Description Amount (in millions)
School Finance Act $8.9
Pass through to Charters $(1.7)
General Fund $7.2
Jeffco 2016/2017 Final State Funding Change
Jeffco 2016/2017 General Fund Revenue Changes
Description Amount
School Finance Act $7,200,000
English Language Prof Act 1,400,000
16/17 Estimated loss of students (4,254,500)
Total Change in General Fund Revenue $4,345,500
Description On-Going Amount
One-Time Amount
Legislated PERA SAED 0.5% $ 2,025,000 $ -
District wide Compensation Placeholder 14,094,405 10,400,000
Mandated English Language Prof Act 1,400,000 -
Expenditures funding initiatives in various district departments (clinic aides, mental health, GT, UIP, new schools, hard to staff, OEL)
4,057,657 3,687,072
Expenditures funding initiatives in various district departments (Security, CLC, Fin Svc, HR, Communications, IT)
776,838 1,735,000
Total change in General Fund expenditures $22,353,900 $15,822,072
Jeffco 2016/2017 General Fund Expenditure Changes
Jeffco 2016/2017 General Fund Net Budgetary Changes
Description Amount
Revenue change $ 4,345,500
Retirement/turnover savings 15/16 & 16/17(est) and additional funds from Math Exp, Utilities, Virtual Academy 15,960,900
Expenditures – ongoing (22,353,900)
Expenditures – one time (General Fund only) (15,822,072)
Reduction in school budget to offset student decline 2,047,500
Net Budgetary Impact $(15,822,072)
General Fund Projection FY 2016
Pages 78 and 79: 2016/2017 Proposed Budget Book
Pages 78 and 79: 2016/2017 Proposed Budget Book
Jeffco 2016/2017 General Fund Reserves
Multi-Year Commitment Reserve
TABOR Reserve
School Carryforward Reserve
Undesignated Reserve
Board of Education Policy Reserve Unassigned $58,986,011
(9% of Expenditures)
Assigned $26,473,831
$20,000,000
$40,000,000
$60,000,000
$80,000,000
$100,000,000
$120,000,000
Ending Fund Balance Total Required Reserves
Jeffco General Fund Reserves
MAJOR FUNDS Other
Capital Reserve Fund Amounts in Millions
2015/2016 Estimate
2016/2017 Budget Change Reason
Beginning Balance 36.5 63.2 26.7
Revenue 49.5 0.4 (49.1) Issuance of COPs
Expenditure 29.9 65.3 35.4 New construction in Northwest Arvada
Transfer 7.1 22.6 15.5
Board directed pull back of $15M to the General Fund in 2015/2016 transfer that was allocated at end of 2014/2015.
Net Gain (Loss) 26.7 (42.3) (69.0)
Ending Balance 63.2 20.9 (42.3)
Appropriation 27.5 65.3 37.8 Supplemental Appropriation needed for 2015/2016
Pages 248-249: 2016/2017 Proposed Budget Book
Building Fund
2015/2016 Estimate
2016/2017 Budget Change Reason
Beginning Balance 31.9 6.6 (25.3)
Revenue - - -
Expenditure 25.3 6.6 (18.7) Nearing end of the bond program
Transfer - - -
Net Gain (Loss) (25.3) (6.6) 18.7
Ending Balance 6.6 - (6.6)
Appropriation 29.5 6.6 22.9
Amounts in Millions
Pages 250-251: 2016/2017 Proposed Budget Book
Debt Service Fund
2015/2016 Estimate
2016/2017 Budget Change Reason
Beginning Balance 58.7 59.1 0.4
Revenue 50.2 50.2 -
Expenditure 49.8 49.2 (0.6) Lower interest payments
Non-Operating - - -
Net Gain (Loss) 0.4 1.0 0.6
Ending Balance 59.1 60.1 1.0
Appropriation 49.8 49.2 (0.6)
Amounts in Millions
Pages 256-257: 2016/2017 Proposed Budget Book
Campus Activity Fund
2015/2016 Estimate
2016/2017 Budget Change Reason
Beginning Balance 10.5 11.0 0.5
Revenue 25.2 25.5 0.3 Increased school activities
Expenditure 25.5 25.9 0.4 Increased school activities
Transfer 0.8 1.1 0.3 Increased Transfer from Property Management
Net Gain (Loss) 0.5 0.7 0.2
Ending Balance 11.0 11.7 0.7
Appropriation 25.5 25.9 0.4 Supplemental Appropriation needed for 2015/2016
Amounts in Millions
Pages 260-261: 2016/2017 Proposed Budget Book
Grant Fund
2015/2016 Estimate
2016/2017 Budget Change Reason
Beginning Balance 7.5 7.5 -
Revenue 45.1 46.0 0.9 Fluctuations in grant funding
Expenditure 45.1 46.0 0.9 Fluctuations in grant funding
Transfer - - -
Net Gain (Loss) - - -
Ending Balance 7.5 7.5 -
Appropriation 52.2 46.0 (6.2)
Amounts in Millions
Pages 262-263: 2016/2017 Proposed Budget Book
Transportation Fund
2015/2016 Estimate
2016/2017 Budget Change Reason
Beginning Balance 0.6 0.6 -
Revenue 8.9 8.7 (0.2) Full time rider participation has decreased
Expenditure 24.6 26.9 2.3 PERA and compensation increase
Transfer 15.7 18.2 2.5 PERA and compensation increase
Net Gain (Loss) - - -
Ending Balance 0.6 0.6 -
Appropriation 26.3 26.9 0.6 Supplemental Appropriation needed for 2015/2016
Amounts in Millions
Pages 264-265: 2016/2017 Proposed Budget Book
Food Service Fund
2015/2016 Estimate
2016/2017 Budget Change Reason
Beginning Balance 7.3 7.8 0.5
Revenue 24.5 25.1 0.6 Planned increase to a la cart due to menu changes
Expenditure 24.0 25.0 1.0 PERA and comp
Transfer - - -
Net Gain (Loss) 0.5 0.1 (0.4)
Ending Balance 7.8 7.9 0.1
Appropriation 25.5 25.0 (0.5)
Amounts in Millions
Pages 268-269: 2016/2017 Proposed Budget Book
Child Care Fund
2015/2016 Estimate
2016/2017 Budget Change Reason
Beginning Balance 6.2 5.4 (0.8)
Revenue 12.3 12.9 0.6 Tuition Increase in SAE and Preschool
Expenditure 13.1 13.1 -
Transfer - - -
Net Gain (Loss) (0.8) (0.2) 0.6
Ending Balance 5.4 5.2 (0.2)
Appropriation 14.2 13.1 (1.1)
Amounts in Millions
Pages 270-271: 2016/2017 Proposed Budget Book
Property Management Fund
2015/2016 Estimate
2016/2017 Budget Change Reason
Beginning Balance 5.5 5.6 0.1
Revenue 2.3 2.3 -
Expenditure 2.0 1.8 (0.2) Contract expense moved to Capital Reserve
Transfer (0.2) (0.7) (0.5) Increase transfer to schools by 0.2 and transfer to Capital Reserve 0.3
Net Gain (Loss) 0.1 (0.2) (0.3)
Ending Balance 5.6 5.4 (0.2)
Appropriation 2.0 1.8 (0.2)
Amounts in Millions
Pages 272-273: 2016/2017 Proposed Budget Book
Employee Benefits Fund
2015/2016 Estimate
2016/2017 Budget Change Reason
Beginning Balance 13.8 13.2 (0.6)
Revenue 5.9 5.6 (0.3) Kaiser refund expected to decrease
Expenditure 6.5 7.0 0.5 Rising cost of claims
Transfer - - -
Net Gain (Loss) (0.6) (1.4) (0.8)
Ending Balance 13.2 11.8 (1.4)
Appropriation 7.0 7.0 -
Amounts in Millions
Pages 276-277: 2016/2017 Proposed Budget Book
Central Services Fund
2015/2016 Estimate
2016/2017 Budget Change Reason
Beginning Balance 1.7 2.1 0.4
Revenue 3.5 3.5 -
Expenditure 3.1 3.5 0.4 Supply increase
Transfer - - -
Net Gain (Loss) 0.4 - (0.4)
Ending Balance 2.1 2.1 -
Appropriation 3.2 3.5 0.3 Supplemental Appropriated needed for 2015/2016
Amounts in Millions
Pages 278-279: 2016/2017 Proposed Budget Book
Technology Fund
2015/2016 Estimate
2016/2017 Budget Change Reason
Beginning Balance 15.5 12.8 (2.7)
Revenue 16.5 17.2 0.7 Billing for PERA and compensation increases and E-Rate program
Expenditure 29.3 30.6 1.3 Implementation of MDR project and Microsoft contracts
Transfer 10.1 10.7 0.6 One-time BOE approved Microsoft license and identity management
Net Gain (Loss) (2.7) (2.7) -
Ending Balance 12.8 10.1 (2.7)
Appropriation 28.4 30.6 2.2 Supplemental Appropriation needed for 2015/2016
Amounts in Millions
Pages 280-281: 2016/2017 Proposed Budget Book
Insurance Reserve Fund
2015/2016 Estimate
2016/2017 Budget Change Reason
Beginning Balance 7.6 6.8 (0.8)
Revenue 1.1 1.1 -
Expenditure 6.7 7.8 1.1 Increased cost of premiums and claims
Transfer 4.8 4.8 -
Net Gain (Loss) (0.8) (1.9) (1.1)
Ending Balance 6.8 4.9 (1.9)
Appropriation 7.7 7.8 0.1
Amounts in Millions
Pages 282-283: 2016/2017 Proposed Budget Book
Charter School Fund
http://www.jeffcopublicschools.org/schools/profiles/charter/index.php
All district charter schools appropriate their own budget.
These budgets can be found online at:
General Fund Expenditures $ 641,794,342 Transfers 56,743,067 Capital Reserve Fund 65,285,675 Building Fund 6,667,842 Debt Service Fund 49,199,435 Campus Activity Fund 25,925,059 Grant Fund 46,043,572 Transportation Fund 26,937,065 Food Service Fund 25,045,666 Child Care Fund 13,092,044 Property Management Fund 2,454,582 Employee Benefits Fund 6,969,418 Central Services Fund 3,453,289 Technology Fund 30,554,397 Insurance Reserve Fund 7,843,245 Total Appropriation All Funds $ 1,008,008,698
2016/2017 Proposed Budget Total Appropriations
FINAL STEPS
Public Hearing and Final Direction for Adopted Budget
Tonight - May 5, 2016
Board Adopts Budget June 2, 2016
Final Steps
List of resolutions to be brought before the Board as part of the adoption of the budget on June 2:
► 2016/2017 Budget Adoption2016/2017 Adoption Appropriation 2016/2017 Use of Fund Balance 2016/2017 Interfund Borrowing
List of resolutions related to the current FY budget brought before the Board on May 5:
2015/2016 Supplemental Appropriation 2015/2016 Use of Fund Balance
Legal Requirements: Resolutions
