Budget Workshop
RYAN KAHLDEN
AUGUST 10, 2015
Adoption Requirements


Before the start of the fiscal year the school board must adopt a
budget for:

General Fund – (distributed on flash drive July 27)

Interest & Sinking Fund

Child Nutrition Fund
We will present budget for capital projects fund and special
revenue funds (when available)
Interest & Sinking Fund

Used to maintain funds received for the specific purpose of the
repayment of a legal obligation.

Source of funds – property taxes

Legal obligations – outstanding bonds

I&S tax rate (2014): $0.2589

Proposed I&S tax rate (2015): $0.3839
Interest & Sinking Fund
Proposed Budget Comparison
Original 2014-2015 Budget
Proposed 2015-2016 Budget
Description Amount
5700
Local Revenue
5900
Fed Revenue
Total Revenue
$ 11,509,520
5700
Local Revenue
100,000
5900
Fed Revenue
$ 11,609,520
71
Debt Service
Budgeted
Rev over Exp
Description Amount
10,835,665
$
773,855
Total Revenue
$ 11,903,502
100,000
$ 12,003,502
71
Debt Service
Budgeted
Rev over Exp
11,163,232
$
840,270
Final 2014-2015 budget will be significantly different than Original budget due to
refunding bonds issued.
Child Nutrition Fund

Used to run the food service operations of the District

Breakfast and Lunch programs daily

Summer feeding program

Catering operations – as requested

Most pressing issue: excess fund balance

Being addressed
Child Nutrition Fund
Proposed Budget Comparison
Original 2014-2015 Budget
Proposed 2015-2016 Budget
Description Amount
Description Amount
5700
Local Revenues
$ 1,356,116
5700
Local Revenues
$ 1,407,900
5800
State Revenues
90,857
5800
State Revenues
95,837
7900
Other Resources
2,161,435
7900
Other Resources
Total Revenue
$ 3,608,408
Total Revenue
2,290,303
$ 3,794,040
35
Food Service
$ 3,533,168
35
Food Service
$ 3,715,980
51
Plant Maint &
Operations
75,240
51
Plant Maint &
Operations
78,060
Total Expenses
$ 3,608,408
Total Expenses
$ 3,794,040
Capital Projects Fund

Used to account for resources (bond proceeds) for construction
projects.

Three bond issues in FY 15

November partial refunding issue

April refunding issue

July issuance of new funds ($75,000,000)
Capital Projects Fund
Proposed Budget

Budgeted revenue


$10,000 – investment earnings

Currently in TexPool account

Looking into higher yielding products
Budgeted Expenditures

$75,000,000 – bond proceeds

Won’t spend entire amount in 1 year

Current estimate from architect: $3,165,000
Any Questions?