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SCHOOL FINANCE

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Communication Services

on 31 August 2017

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Transcript of SCHOOL FINANCE

SCHOOL FINANCE
A Look Back
Litigation
Funding for GCISD is NOT adequate.

GCISD does NOT have the ability to generate more revenue.

How will we stay afloat and continue to produce top-quality opportunities and experiences for ALL students at GCISD?
Community Support for Past Bond Programs
Revenue Sources
Our LARGEST source of Revenue comes from Local Taxes.
Decreased Tax Rate
Staying Afloat
In June, GCISD adopted a budget with a $9.8M deficit for the 2015-2016 school year.

To fill this shortfall, the district will
pull from its Fund Balance.
Staying Afloat
and what it means for GCISD
2011:
$5.4B cut to state funding
for public education
Resources
Accountability
-$14M
+$1.6M
2011
2013
+$2M
2015
ESTIMATED
Later That Summer...
Funding cut
$5.4 billion
statewide,
resulting in
a
$14 million
cut to GCISD.
The Result in
Funding Per Student
Average Home Value
$275,739
Keeping Costs Down
Keeping Costs Down
Keeping Costs Down
Keeping Costs Down
Keeping Costs Down
While continuing to provide top-quality education experiences for
all students.
3-Tiered Approach
to Energy Savings
As a result...
Lawsuit
GCISD has joined in a lawsuit against the state with 600 other Texas districts
TIMELINE
Staying Afloat
So let's say we didn't pull
from our Fund Balance....
170 positions across the district
would have been eliminated in order to balance the 2015-2016 budget.
Cutting People = Cutting Programs
$75M
Nov. '93
$134M
Sep. '98
$107.9M
Sep. '05
$124.5M
May '11
Financially Responsible with Debt Management
May 2011 Bond Program
Refinancing Program
Refinancing Pays Off
Over the last 11 years, the district has saved more than $35 million in interest costs for GCISD taxpayers.
Diligence Recognized
How We're Rated
Vision for the Future
REDEFINING EDUCATION BECAUSE
YOUR FUTURE MATTERS TODAY
JUNE 2011
Year
2010-2011
2011-2012
2012-2013
2013-2014
2014-2015
2015-2016
Adjustment
0%
0%
1% + 1% one-time payment
2% + 1% one-time payment
2% of mid-point + market adjustments
0%
Cost of Living Adjustments
Utility Costs
from
$4.6M
to
$3.1M
FEB 2013 - State District Judge John Dietz ruled the system is unconstitutional and does not adequately fund education
SEP 2014 - State appeals to the Supreme Court
SEP 2015 - Supreme Court set to hear the case
Fund Balance
Target Line
Debt & Income (Taxable Values) levels
GCISD has a 2.93% Debt-to-Income Ratio!
April 2015
Refinanced $33.7M
5%
1.71%
= $5 million in savings to taxpayers
We continually monitor the market for the best debt management opportunities
May 2011 Bond Program
Tax Increase
Secured lower interest rates
23.4% lower than proposed
=
$33.5 million

in interest cost savings
to taxpayers
6th Lowest!
The Legal
Debt-to-Income Ratio allowed is 10%.

At 2.93%, GCISD is well below that threshold.
= $3.2M
2006
$1.47
2015
$1.04
(2011)
(2015)
If We Fall Below the Black Line, we would need...
Tax Amount 2006
$4,687.56
Tax Amount 2015
$3,640.03
2012-2013 AND 2013-2014
Eliminate Block Scheduling at GHS & CHHS, saving $1.2 million each year.

2014-2015
Restored Block Scheduling at half the cost of the former program.
Relief from the state with a change in the funding laws.
Significant budget cuts--impacting programs.
A Tax ratification election.
M&O costs, such as:
Payroll
Recapture
Utilities
Other Operating Costs
The Fund Balance will NOT cover capital needs, such as:
Technology
New Facilities
Facility Upgrades
Equipment/Classroom Furniture
Buses/Vehicles

What can our
M&O Fund Balance cover?
So, how can we cover our
capital needs?
Full transcript