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2016 BudgetCENTER GROVE COMMUNITYSCHOOL CORPORATIONBudget HearingSeptember 24, 2015

Budget Adoption Calendar September 4, 2015Budget Advertised September 24, 2015Budget HearingBus Replacement Plan HearingCapital Projects Plan Hearing October 6, 2015Budget Adoption by the BoardBus Replacement Plan AdoptionCapital Projects Plan Adoption9/16/20132

Complete BudgetAvailable Online Go to www.centergrove.k12.in.us/2016budget10/5/20153

Agenda 10/5/20152016 Major Budget Issues Enrollment Changes Gateway: State Budget Website Budget Levy Tax Rate Major Changes in the General Fund Capital Projects Fund (CPF) NeedsSummary and Conclusions Total Budget Amounts Total Tax Rates Operating Balance Summary4

Major Issues: Enrollment ChangesPast Data and 2015-16 Count on 9.9.152008- 2009- 2010- 2011- 2012- 2013- 2014091011121314152015-16As 7497,912Change fromPrevious Year 43 67 47-70-11 129 36 163Note: Enrollment on 9.9.15 is still an unofficial estimate.10/5/20155

Most Up-to-Date Enrollment Data Funding based on official enrollment date: 9.18.15 Preliminary enrollment: 7,909 on 9.9.15– May be minor changes before final report Basis of advertised budget: 7,910 We will continue to monitor enrollment until the finalADM report is submitted. State Funding Formula approx. 5,000 per student10/5/20156

Major Issues: Gateway: State Budget Website On-line portal for the public access togovernmental data Developed by DLGF, State Board of Accounts,and Indiana Business Research Center at IU More than 2,400 current government units (cities,towns, counties, etc.) submit data to Gateway Schools (and other government units) submit budgetdata and Gateway creates all budget forms Public can access data online after DLGFreview/certification7

How Do You Access Gateway? Go to https://gateway.ifionline.org Select “Johnson County” and “Schools”. Select Center Grove Schools from the list Many reports available to review andcompare data8

Major Issues: Budget Levy Tax Rate Budget: The total revenue we are projected toreceive and the total spending authority we havethat has been approved by the State Departmentof Local and Government Finance (DLGF) Levy: That portion of the revenue that comes fromlocal property tax Tax Rate: The property tax rate that is required toraise the levy that has been approved10/5/20159

Major Issues: Budget Levy Tax Rate (Cont.) Each of these 3 must be approvedLegallyby the State Department of LocalFundRestrictedand Government Finance (DLGF).Capital ProjectsTax Rate There is a complex calculation foreach fund, starting with the BudgetTransportationLevyand working down to the tax rate.Bus Replacement Levy The rules for each fund are differentDebt ServiceBudgetbecause of the legal restrictions. Once we advertise our budgets, we can’t increase the budget,levy, or tax rate, but we can reduce them. As a result, we always advertise levies and rates that are a littlehigh, in case we have made an error in our calculations. This year we will also advertise a higher Capital Projects budgetbecause a new law has changed the calculations.10/5/201510

Major Issues: Major Changes in the General Fund201520162016Income BudgetNew IncomeIncome Budget 45,080,000 2,600,000 47,680,0002014Expense Budget 45,510,0002016New Expenses 2,450,0002016Expense Budget 47,960,0002015 Budget2016 Budget- 430,000- 280,00010/5/201511

Major Issues: Major Changes in the General FundObjectDescription110Certified Salaries120Non-Cert. Salaries135/136Substitutes211/212FICA 103,758214-216PERF and TRF 184,411222Health Insurance (due to added staff; no rate change) 358,198224Dental/Vision Insurance (due to added staff) 29,878319Services (Auditorium Manager moved to contract) 35,500564JCSS (fee increase) 46,000611Supplies 21,730622/625Utilities 120,000All other accounts 54,99410/5/2015 2,450,000Change for 2016 1,068,249 375,022 52,260Total Increase in the 2016 Budget12

Changes in Staff for2015-2016 School YearInstructional StaffOther StaffChangeSpecial Education Teachers 3.0Special Education Secretary 1.0Elementary Teachers 5.0HR Specialist 1.0Middle School Teachers 2.0CGES Office Asst. 1.0Asst. Director Curriculum 1.0KG Classroom Assistants 12.5GR 1-5 Classroom Assistants 2.5High School Asst. Principal 1.0Instructional Coaches 8.0MGES Asst. to the Principal-1.0On-line Coordinator-1.0Maintenance Director-1.0Total10/5/2015Change 33.0Total 2.013

2016 General Fund BudgetOverall Status As advertised, revenue would be less thanexpenses by 280,000. We will continue to monitor enrollment, whichmight change this number slightly. Any shortage in revenue for 2016 will come fromcash balance.10/5/201514

Major Issues: Capital Projects Fund (CPF) NeedsRevenue in CPF and Bonds 12.000(All figures are millions of dollars) 10.000 8.000 6.000 4.000 2.000 0.0002007BondsCPF 8.01910/5/20152008 8.1942009 1.900 7.2112010 3.905 7.0462011 3.970 6.3872012 3.720 6.2972013 3.960 6.5592014 3.970 6.7732015 3.975 6.7312016 3.975 7.03015

Total 2016 ExpensesCPF and ceEnergy SavingsEmergency AccountProfessional FeesBuilding Improvement ProjectsTotals10/5/2015Amount 3,613,751 1,116,500 1,297,873 1,462,000 471,988 120,000 208,388 2,714,500 11,005,00016

2016 CPF Projects10/5/2015Annual Maintenance Projects1Painting/Wallcoverings2Carpeting/VCT3Site Projects4Asphalt Repairs/Resurfacing5Roofing/Building Exterior6Athletic Projects/Fields7Misc. Building Improvements8Refinish Gym Floors9Traffic Control10Sidewalk/Landscaping Repairs11Fencing/Gates12Security Cameras/ID Systems13Miscellaneous Classroom Projects14Playground Development15Access Control UpgradesSpecific Projects for 201616Warehouse Building - Operations Center17Geothermal Conversion - PRC18Renovation at IT Center19Replace Fire Alarm - PRCEnergy Savings Projects 201620Boiler/Chiller/HVAC Equipment Replacement21Lighting Retrofits22Mechanical and Temperature ControlTotalsCPF 2016 15,000 25,000 165,000 175,000Bonds 2016 40,000 125,000 100,000 3,000 25,000 190,000 30,500 139,000 25,000 50,000 27,500 45,000 80,000 75,000 200,000 25,000 150,000 200,000 50,000 50,000 242,500 215,000 247,000 764,500 1,950,00017

2016 Technology ProjectsTechnology Projects1 Staffing2 MiscellaneousCPF 2016 1,280,851 38,9003 Other Equipment Purchases4 Network Charges and UpgradesBonds 2016 82,000 10,000 78,0005 Purchases Software/Licenses 81,0006 Maintenance/Software Contracts7 Contracted Repairs 802,000 13,0008 Replace Out of Warranty Machines 255,0009 High School 1:1 Project 350,00010 2nd Grade 1:1 Project 150,00011 Infrastructure Hardware Purchases12 Innovation Center 120,000 100,00013 District-Wide Hardware PurchasesTotals 190,000 1,600,751 1,950,000Notes:2 Includes things like furniture and professional development3 Includes things like AV equipment and mobile device cases4 Includes routine access charges and equipment upgrades13 Includes things like netbook replacement and multimedia classroom upgrades10/5/201518

Agenda 10/5/20152016 Major Budget Issues Enrollment Changes Gateway: State Budget Website Budget Levy Tax Rate Major Changes in the General Fund Capital Projects Fund (CPF) NeedsSummary and Conclusions Total Budget Amounts Total Tax Rates Operating Balance Summary19

Summary: Budget Comparison 2015-2016General Fund2015 Budget2016 BudgetChange 45,510,000 47,960,000 2,450,000Percent 5.4%Capital Projects 6,730,925 7,030,000 299,075 5.4%Transportation 3,640,000 3,730,000 90,000 4.4% 986,284 1,080,000 93,716 9.5%Bus ReplacementDebt Service 12,878,516 14,620,000 1,741,484 13.5%Total 69,745,725 74,420,000 4,674,27510/5/2015 6.7%20

Summary:Bus Replacement PlanYearNo. of BusesOwnedNo. ofBusesto 838,500880,5001,941,175The proposed plan includes additional school buses or school buses with larger seating capacity as comparedwith the prior school year. Evidence of a demand for increased transportation services is detailed in theproposed plan. School corporation certifies/affirms that the additional buses it plans to acquire are for thepurpose of replacement or having larger seating capacity.Number of Additional Buses: 110/5/2015Cost of Additional Buses: 108,000SOURCES AND ESTIMATES OF REVENUE1)Projected January 1 Cash Balance2)Less: Encumbrances Carried Forward from Previous Year3)Estimated Cash Balance Available for Plan (Line 1 minus Line 2)4)Property Tax Revenue5)Auto Excise, CVET and FIT receipts6)Other RevenueTOTAL FUNDS AVAILABLE FOR PLAN (Add lines 3, 4, 5 and 6)201685,79585,795990,59283,6131,160,00021

Summary: Comparison Tax Rates 2015-20162015 Rate2016 Rate*ChangeCapital Projects 0.2657 0.2662 0.0005 0.3028Transportation 0.1415 0.1379- 0.0036 0.1614Bus Replacement 0.0379 0.0369- 0.0010 0.0461Debt Service 0.5503 0.5345- 0.0158 0.6001 0.9954 0.9755- 0.0199 1.1104TotalAdver.*** Rates for 2016 are only estimates.** The right column is the “advertised rate.” We always advertise high toguard against errors in estimation or procedures.10/5/201522

Center Grove Schools Tax Rate2004-2016 2.0000 1.7500 1.50001.416 1.411 1.4041.5001.517 1.2500 1.00001.040 0.7500 0.50001.020 0.9900.9600.990 0.946 0.995 0.976General FundTax Rate Gone 0.2500 0.000010/5/201523

Johnson County 2015 Tax RateComparison 1.8990Clark Pleasant 1.4768FranklinEdinburghCenter GroveGreenwoodNineveh 1.0415 0.9954 0.8590 0.7268 0.0000 0.2000 0.4000 0.6000 0.8000 1.0000 1.2000 1.4000 1.6000 1.8000 2.000010/5/201524

Impact-Sample Homeowner2015Assume a 300,000home 2014, pay 2015The tax bill for this 300,000 housewould decreaseby 29.(Tax rates andbills referenceschool taxes only.)10/5/20152016Gross A.V. 300,000 300,000- Homestead Deduction( 45,000)( 45,000)- New Supplemental Ded. (35%)( 89,250)( 89,250)( 3,000)( 3,000) 162,750 162,750 0.9954 0.9755School Taxes Before Tax Cap 1,620 1,588School Taxes After Tax Cap 1,433 1,404- Mortgage DeductionEquals Net A.V.School District Tax Rate25

Summary: General Fund Operating Balance2007-2015Percent of rcent6.3%5.5%4.0%2007 3.578.7%2008 2.676.4%2009 2.385.5%2010 1.724.0%2011 2.656.3%2012 3.087.4%4.8%4.8%2013 2.104.8%2014 2.124.8%4.4%2015 2.004.4%10/5/201526

Summary: Budget Summary-Key Facts Increase in General Fund expenses: 2,450,000 Revenue shortfall in General Fund: 280,000 Increase in all 5 funds combined: 4,674,275 (6.7%) We will be monitoring enrollment closely andreport again when we have the final number. Total tax rate decrease for 2016: .0199 (2.0%)10/5/201527

Complete BudgetAvailable on Our WebsiteGo to www.centergrove.k12.in.us/2016budgetDr. Paul GabrielChief Financial Officergabrielp@centergrove.k12.in.usMs. Stacy ConradDirector of tergrove.k12.in.us/budget317-881-932610/5/201528

2016 Budget UpdateCENTER GROVE COMMUNITYSCHOOL CORPORATION Enrollment General Fund29

Enrollment Count Fall 2015-16Past Data and 2015-16 Count on 9.18.152008- 2009- 2010- 2011- 2012- 2013- 2014091011121314152015-16As ,7497,924Change fromPrevious Year 43 67 47-70-11 129 36 175Note: Enrollment on 9.18.15 is still an unofficial estimate.10/5/201530

2016 Budget:General Fund Revisions Income changes– Advertised budget -- Based on 7,910 students– Final expected count -- 7,924 students– We receive about 5,000 per ADM– Revenue increase: 70,000 Expense changes– Providing raises to staff as presented tonight– This will add 100,000 to the 2016 General Fund10/5/201531

General Fund Original Estimate:As Presented on September 24, 2015201520162016Income BudgetNew IncomeIncome Budget 45,080,000 2,600,000 47,680,0002015Expense Budget 45,510,0002016New Expenses 2,450,0002016Expense Budget 47,960,0002015 Budget2016 Budget- 430,000- 280,00010/5/201532

General Fund Revised:As of October 6, 2015201520162016Income BudgetNew IncomeIncome Budget 45,080,000 2,670,000 47,750,0002015Expense Budget 45,510,0002016New Expenses 2,550,0002016Expense Budget 48,060,0002015 Budget2016 Budget- 430,000- 310,00010/5/201533

Complete BudgetAvailable on Our WebsiteGo to www.centergrove.k12.in.us/2016budgetDr. Paul GabrielChief Financial Officergabrielp@centergrove.k12.in.usMs. Stacy ConradDirector of tergrove.k12.in.us/budget317-881-932610/5/201534