GALVESTON INDEPENDENT SCHOOL DISTRICT PROPOSED 20082009 BUDGET

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GALVESTON INDEPENDENT SCHOOL DISTRICTPROPOSED
2008-2009 BUDGET

• August 27, 2008

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Summary for 2007-2008

• Additional Revenue 904,854
• Unspent Appropriations 1,635,421
• Total 2,540,275
• Available Fund Balance
• Beginning 35,515,276
• Bond/Other Projects (10,204,335)
• Unspent Appropriations 2,540,275
• Ending 27,851,216

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2008-2009 Budget Projections

• 2008-2009 Budget
• Revenues
• Expenditures
• Tax Information
• Fund Balances and Reserves

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Galveston Independent School District2008-2009
Budget Summary

• General Fund Debt Service Chld.Nutrition
• Revenues
• Local 52,847,506 6,233,701 976,532
• State 20,570,128 28,250
• Federal 765,922 3,645,368
• Total Revenues 74,183,556 6,233,701 4,650,150
• Less Recapture 11,905,992
• Operating Revenue 62,277,564
• Expenditures 80,309,255 6,242,596 4,650,150
• Surplus/(Deficit) (6,125,699) ( 8,895)
  0

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Galveston Independent School District2008-2009
Budget Summary

• HS Allotment Fund Technology
  Fund Revenues
• State 573,466 205,425
• Total Revenues 573,466 205,425
• Expenditures 573,466
  205,425
• Fund Balance 0 0
• Surplus/(Deficit) 0 0

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Galveston Independent School DistrictRevenues

• Revenue Assumptions
• Uses conservative property values due to property
  under review 4,615,679,984
• Built on 50 of 103.59 Million in taxable
  property under review
• Tax collection rate of 98
• Average Daily Attendance (ADA) 6,982.5 vs
  7,160.03 in 07-08
• High School ADA of 2,085 vs 2,090.33
• Tax rate decrease from 1.175 to 1.165 per 100
  valuation

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2008-2009 Budget Projections
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Galveston Independent School DistrictGeneral
Fund Revenues

• Local Funds
• Taxes 51,493,506
• Interest 1,000,000
• Athletics 100,000
• Other 254,000
• Total Local Funds 52,847,506
• State Funds 20,570,128
• Federal Funds 765,922
• Total Revenues 74,183,556
• Fund Balance Money 6,125,698
• Grand Total for 2008-2009 Operations
  80,309,254

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PROJECTED EXPENDITURES
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Galveston Independent School DistrictGeneral
Fund Expenditures
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Galveston Independent School DistrictNoteworthy
Expenditures

• Salaries and Benefits
• Teachers, Counselors, Nurses, and Librarians
• Pay Scale raised 3
• Step Increase
• Classroom Supply Reimbursement Directly to the
  Teacher
• Longevity Award
• Signing Bonus
• Continuation Bonus
• Pay for Unused Sick Leave
• Priority Ferry Pass (when available)
• All Other Employees
• 3 of midpoint increase

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Galveston Independent School DistrictNoteworthy
Expenditures (continued)

• Transportation Budget
• 3 new buses with seatbelts
• Cost of fuel increased to 4.00 per gallon Total
  cost doubled
• Health Insurance
• 225/month employer contribution continued
• Lower cost option added
• Free clinics added
• Facilities Capital Projects Budget
• 750 thousand dollars in various improvements
  included

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TAX INFORMATION
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Galveston Independent School DistrictTax Rate

• MO IS Total
• 2007 Tax Rate 1.0400 .1350 1.1750
• Net Change 0 -.0100 -.0100
• 2008 Tax Rate 1.0400 .1250 1.1650

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Comparison of Proposed Levy with Last Year's Levy
on Average ResidenceLast Year VS This Year

• Average Market Value of Residences
• 130,316 136,027
• Average Taxable Value of Residences
• 85,057 90,486
• Last Year's Rate Versus Proposed Rate per 100
  Value
• 1.17500 1.16500
• Taxes Due on Average Residence
• 999.42 1,054.16
• Increase (Decrease) in Taxes
• 54.74

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FUND BALANCES AND RECOMMENDED RESERVES
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FUND BALANCES

• GENERAL OPERATING
• Aug 31, 2007 35,515,276
• Aug 31, 2008 (Proj) 27,851,216
• I S Aug 31, 2008 (Proj) 1,312,000
• TECHNOLOGY FUND (Proj) 0
• HS ALLOTMENT (Proj) 0
• FOOD SERVICE (Proj) 746,013

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Galveston Independent School DistrictRecommended
Fund Balance Designations 2008-09

• Fund Balance at Aug 31, 07
  35,515,276
• Projected Fund Balance Aug 31, 08 27,851,216
• 2008-09 Budget Deficit ( 6,125,699)
• Total Fund Balance 21,725,517

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QUESTIONS?