December 6, 2022 at 7:30 AM - Budget Committee Meeting

Description:  The purpose of this discussion is to review the $1 million operational referendum question for the 22-23 school year. As a result of this referendum question passing on November 8th, an additional $1 million was added to the fund 10 property tax levy.  Attached please find a document that we reviewed this past spring regarding budget planning. 

Please note this document included a column called "November 8th" that referenced several expenditure lines that were initially removed from the 22-23 budget. These expenditures could be added back into the 22-23 budget. Administration is seeking budget committee feedback on this topic. We have also added the most recent monthly board report to assist with this discussion.

Description:  The purpose of this agenda item is to review the projected end of the year balance. The 22-23 Fund 10 budget approved by the School Board in October was balanced and included a $100,000 contingency. As of the end of November, the special education teacher approved for Heritage will come from the contingency fund.

There are two other items to note: 
1) The utility expenditures could exceed the utility budget by a significant dollar amount due to increases in the market rates for natural gas. See attached natural gas pricing chart.
2) Transportation invoices that belonged to the 21-22 fiscal year were not received until after the audit was completed. These invoices were shared with the district auditor, but were outside of the audit timeframe for 21-22. As a result, these invoices will be coded to the 22-23 fiscal year. 

Description:  The purpose of this agenda item is to make the committee aware of the state requirements related to property tax bills. The state requires the following to be separated out on property tax bills:
 

Per §74.09(3)(db) a school board is required to separately report any tax levies that exceed its annual revenue limit as a result of a successful referendum to exceed the limit on a non-permanent basis. State law requires the levies associated with all debt and non-recurring operation referendums passed after December 31, 2014 to be listed separately. The property tax bill must also include the year in which the non-permanent referendum to exceed the revenue limit no longer applies.

The total property tax levy certified by the district was $38,555,555, but we had to separate out a tax levy for the November 8th referendum. The tax levy for the capital referendum question is an estimate because the financial plan has not been fully implemented at this time. 

Description:  The purpose of this agenda item is to discuss the draft of the 2023-2024 budget process. Attached please find the budget timeline. 

Description:  The purpose of this agenda item is to review enrollment projection scenarios. Attached please find a document that includes historical  Third Friday in September counts and several enrollment projection models. Administration is recommending a budget planning process utilizing the 5-year average for enrollment planning. The most significant take-away from the attached document is that we will have a reduction in our student count of 101 students by moving our existing enrollment from one grade to the next. The 5-year average is projecting an increase of 110 new students, which nets out to a +9 overall. Administration is seeking feedback from the Budget Committee on this topic.

Description:  The purpose of this agenda item is to review the attached presentation on the financial plan related to the November 8th referendum. Administration is seeking budget committee feedback on the example financial plans that are included in this presentation. Erik Kass from PMA will join us for this discussion. 

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