Redford Union School District

1
Redford Union School District

• 2009-10 Budget Hearing
• June 22, 2009

2
Budget Hearing

• District Budget contains multiple funds
• General Fund
• Special Revenue Fund
• Special Education Center Program
• Debt Retirement Fund
• Capital Projects Fund

3
Budget Hearing

• General Fund
• This is the largest fund of the district
• State Aid in this fund is based Foundation
  Allowance
• Special Revenue Fund includes
• Food Service
• Athletics

4
Budget Hearing

• Special Education Center Program
• Revenue received
• State Aid Foundation allowance for students in
  center programs
• Federal Some Federal Grant revenue allocated
  from IDEA funds
• Act 18 County wide special education millage

5
Budget Hearing

• Special Education Center Program
• Expenditures for three programs
• HI Hearing Impaired
• DT Day Treatment for Elementary and Adolescent
  
• AI Autistic Impaired

6
Budget Hearing

• Debt Fund
• Used to retire the bonded debt of the district
• Includes
• Durant Debt - Funds received from the State to
  non-plaintiff districts
• New voted Debt Bond issue voted by tax payers
  in May 2009

7
Budget Hearing

• Capital Projects Fund
• Designated for remodeling of buildings and
  equipment
• Capital Projects will be the items listed in the
  bond application
• Funds will be received 6/29/09
• Necessary to follow state guidelines for bid
  process for all projects over limit

8
Budget Hearing

• Tax collection from municipalities for General
  Fund
• Based on Non-homestead property
• Business property
• Vacation homes
• Vacant land
• Rental Property
• Does not include primary home of a taxpayer

9
Budget Hearing

• Tax collection from municipalities for Debt Fund
• Based on Taxable Value of all property in the
  District
• Does include primary home of a taxpayer
• Sale of Bonds structured to keep Debt millage
  rate the same

10
Revenue

• Based on Foundation Grant Formula
• Student Count
• Foundation Allowance

11
Student Count

• The projected blended student count for 2009-2010
  of 3,383.85 is a decrease of 200 FTEs from
  2008/09.
• This is based on 25 of the February 2009 student
  count and 75 of the projected September 2009
  student count.

12
Foundation Allowance

• The foundation allowance is projected at 7,331
  for 2009-10
• The State budget has not been finalized yet for
  2009-10.
• Projected shortfall deduction based on General
  Fund Student count
• 108 307,051
• 143 423,617

13
Tax Rate

• The General Fund non-homestead millage rate
  remains at 18 mills.
• The State Education Tax of 6 mills that all tax
  payers pay is distributed at the state level.
• Homeowners pay 6 mills for education.
• This money is sent to Lansing.
• Then redistributed based on the foundation grant
  and number of students at each district.

14
Tax Rate

• The Debt Fund millage rate remains at 5.8 mills.
• These mills are levied on all property within the
  district for the purpose of retiring the bonded
  debt of the district.

15
Revenue Changes

• Budget changes to the districts revenues are
• Decrease in interest earned during second half of
  2009 projected to 2009-10
• Eliminated 450,000 District Grant from State Aid
  in 2009-10

16
Future Changes

• Major Changes to both Revenue and Expenditures
  over the next few months
• Federal Stimulus funds will be received over next
  2 years
• Allocations and Guidance have not been finalized
• Stabilization Funds
• Title I Grant
• IDEA Grant

17
Rate for Payroll Expenses

• The retirement rate will be increase from 16.54
  to 16.94 on October 1, 2009.
• The FICA rate of 7.65 has not changed.

18
Expenditure Changes

• Current changes include
• Teaching staff reduction
• Durant Funds used for text book purchase

19
General Fund
20
General Fund
21
Special Revenue Fund
22
Special Education Fund(HI / DT / AI Act 18
County Millage)
23
Debt Retirement Fund
24
Capital Projects Fund
25
Budget Hearing

• Questions