Lynchburg City Schools

1
Lynchburg City Schools

• FY 2007-2008
• Operating Fund Revenue
• Analysis

2
Lynchburg City Schools Operating Fund Revenue
received was 200,519 less than budgeted.
3
Commonwealth of Virginia

• Sales Tax 400,097 less than budgeted (due to
  economic downturn)
• Basic Aid 8,663 less than budgeted (due to
  reduced ADM)
• As required by the Basic Aid Funding formula,
  state basic aid payments are increased to offset
  a portion of the decrease in projected sales tax
  revenue
• All other SOQ Programs 641,835 less than
  budgeted (due to reduced ADM)
• School Facilities 18,242 less than budgeted
  (due to General Assembly)
• Incentive 22,393 less than budgeted (due to
  reduced ADM)
• Categorical 39,498 more than budgeted(due to
  increased participation)
• TOTAL STATE REVENUE - 1,051,731 LESS THAN
  BUDGETED

4
Federal Revenue

• Title VI-B Special Ed 28,927 more than budgeted
• Advanced Placement 1,643 more than budgeted
• Basic Adult Ed 57,462 less than budgeted
• Impact Aid 4,563 less than budgeted
• Medicaid Reimbursement 8,532 less than budgeted
• TOTAL FEDERAL REVENUE - 39,987 LESS THAN BUDGETED

5
Miscellaneous Revenue

• E-Rate Reimbursement 85,571 more than budgeted
• Insurance Adjustments 10,237 more than
  budgeted
• Misc/Rebates/Refunds 12,266 less than budgeted
• TOTAL MISCELLANEOUS - 83,542 MORE THAN BUDGETED

6
Charges for Services

• Rents/Facility and Bus Rentals 95,312 more than
  budgeted
• Tuition and Fees 26,919 more than budgeted
• LAUREL non-center based 693,147 more than
  budgeted
• Dual Enrollment 42,000 less than budgeted
• TOTAL CHARGES FOR SERVICES 773,378 MORE THAN
  BUDGETED

7
Revenue Use of Money

• Interest earned 34,279 more than budgeted

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Revenue lines with surpluses

• State-Sped Foster Care 111,465
• State-Adult Ed 19,280
• State-Vocational Ed 16,512
• StateEnglish as 2nd Lang 13,223
• FederalTitle VI-B Sped 28,927
• FederalAdv Placement 1,643
• Misc-E Rate Reimb. 85,571
• Misc-Insurance Adj. 10,237
• Chg for Services-Rent 95,312
• Chg for Services-Tuition 26,919
• Chg for Services-LAUREL 693,147
• Use of Money Interest 34,279

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Lynchburg City Schools

• FY 2007-2008
• State Per Pupil Amounts

10
2007-2008 State Basic Aid Per Pupil Amount (PPA)

• 5,179 Basic Aid includes funding for the
  basic instructional positions derived from
  minimum student to teacher ratios required by the
  Standards of Quality (SOQ) plus all other
  personal and non-personal support costs funded
  through the SOQ.

11
Formula for Basic Aid

• (((Per Pupil Amount x Adjusted ADM) Sales
  Tax) x (1 Composite Index)) State Share
• General Assembly March 2, 2007
• (((5,179 x 8,495.10) - 9,311,099) x (1-.3500))
  22,545,265
• Lynchburg City Schools Per Audit June 30,
  2008
• (((5,179 x 8,301.01) - 8,892,869) x (1-.3500))
  22,163,740
• Amount received per Audit
  22,147,217
• Differences to due to adjustments for
• payments made on behalf of LCS by DOE

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There are different per pupil amounts (PPA) for
different state revenue programs an example of
Department of Education budget variables along
with formula descriptions are below