Create a 10- to 15-slide Microsoft® PowerPoint® presentation for the Port Townsend School Board that highlights your budget proposal. Include speaker's notes for each slide as appropriate to clarify the meaning and significance of the text presented on the slide.
Insert Title EDD/731 v8 Budget Worksheet and Template EDD/731 v8 Page 2 of 3 Budget Worksheet and Template Use this sheet to calculate prior year (PY) and current year (CY) revenue, expenditures, fund balances, operational balances, and budget balance. You may move or add items as necessary. No. of students (1200) x ($5,788/ student) = State foundation funding =$6,945,600.00 Local Taxes Amount Quantity of maintenance and operation mills 2,713.60 Quantity of debt service mills 2,388.70 Quantity of capital outlay mills 645.50 Total millage 5,747.80 Assessed valuation 2,700,267,274.00 Bonded debt 34,313,100.00 Fund 1: Salary Category PY Actual CY Budget Beginning balance 1,200,000.00 2,100,000.00 Total revenue 17,843,856.00 19,267,338,00 Total expenditure 18,004,826.00 20,074,173.00 Total transfers 0 0 Ending balance 1,039,030.00 1,293,165.00 Full-time equivalents 1,815.00 1,815.00 Average teacher salary 45,897.00 67,801.00 Fund 2: Operating Category PY Actual CY Budget Beginning balance 1,200,000.00 2,100,000.00 Total revenue 17,843,856.00 19,267,338,00 Total expenditure 18,004,826.00 20,074,173.00 Total transfers 0 0 Ending balance 1,039,030.00 1,293,165.00 Fund 3: Building and Construction Category PY Actual CY Budget Beginning balance 8,229,000.00 3,900,000.00 Total revenue 661,028.00 1,068,323.00 Total expenditure 7,229,000.00 3,900,000.00 Total transfers 117,875.00 59,393.00 Ending balance—building and construction is part of capital outlay 543,153.00 808,930.00 Fund 4: Debt Service Category PY Actual CY Budget Beginning balance 1,270,000.00 1,361,000.00 Total revenue 2,821,384.00 2,678,839.00 Total expenditure 2,556,075.00 2,640,843.00 Total transfers 0 0 Ending balance 1,535,309.00 1,398,996.00 Fund 5: Capital Outlay (p.88-89) PY :2019-2020 CY:2020-2021 Category PY Actual CY Budget Beginning balance 3,700,000.0 2,132,000.00 Total revenue 1,068,323.00 1,556,497.00 Total expenditure 3,900,000.00 2,700,000.0 Total transfers 59,393.00 250,000.00 Ending balance 808,930 738,497.00 Fund 6: Federal Grants Category PY Actual CY Budget Beginning balance 0 0 Total revenue 1,206,285.00 1,465,303.00 Total expenditure 0 0 Total transfers 0 0 Ending balance 1,206,285.00 1,206,285.00 Fund 7: Activity Category PY Actual CY Budget Beginning balance 328,000.00 300,000.00 Total revenue 281,400.00 275,750.00 Total expenditure 268,610.00 261,150.00 Total transfers 40,790.00 0 Ending balance 300,000.00 314,600.00 Fund 8: Food Service Category PY Actual CY Budget Beginning balance 0 0 Total revenue 307,000.00 360,000.00 Total expenditure 476,804.00 533,312.00 Total transfers 0 0 Ending balance 0 0 Fund 9: Fixed Assets Category PY Actual CY Budget Beginning balance 213,000.00 185,500.00 Total revenue 100,500.00 93,800.00 Total expenditure 250,000.00 0 Total transfers 0 0 Ending balance 63,500.00 279,300.00 Copyright 2020 by University of Phoenix. All rights reserved. Copyright2020 by University of Phoenix. All rights reserved. Insert Title Running Head: EXECUTIVE SUMMARY ANALYSIS 1 Running Head: EXECUTIVE SUMMARY ANALYSIS 5 Executive Summary Gretchen Carter EDD 731: The Economics of Education Dr. Janice Terrell February 1, 2022 Executive Summary The yearly general fund budget is one of the essential legal documents governing a school district, and budget approval is one of the district's Board of Trustees' most critical tasks. The school budget—and concurrent process—provides school districts and their leaders with an opportunity to explain the expenditure of public funds. In short, the school budget describes the district's plan for the upcoming school year as affiliated with anticipated revenues and expenditures. The school budget allows the district to summarize intangible missions, operations, and objectives into reality by outlining and providing detailed programs and funding/financial terms. The school budget helps bridge the district's goals and resource allocation. As William Hartman wrote, critical steps of the school budget process include "…establishing the district's objectives and priorities, allocating resources; involving the public through budget hearings, school board decisions and other means of representative democracy; and, in some states, conducting budget elections." (Hartman, 1999). Before expenditures from that fiscal year can be made, the general fund's fiscal year budget must be approved. Hence, once the Board of Trustees finalizes the budget, the district forfeits any additional spending authorization for all future outlay until revised. Consequently, district leaders face many challenges that influence allocating limited resources to schools to bridge achievement gaps, address students' needs from complex demographics, receive reduced state support, and comply. According to Educational Finance Academics, the efficacy of resources is determined by how students and instructors employ them than by their availability. However, in the study's findings, it is impossible to separate the influence of spending on student accomplishment. Moreover, in research experiment many elements impact teaching and learning, many outside the school, and cannot be included in the analysis. Finally, if resources have a consistent influence on student achievement, budgeting will be simple. The immediate focus is on providing high-quality teaching and learning for all children, particularly those we know are disproportionately impacted by disparities in opportunity and outcome, such as income, language, impairment, and race. Therefore, this budget focuses on adequate personnel, supplemental programs, and materials to ensure that educators have the tools to address specific student needs. The goal is to maintain quality education programs, address enrollment growth, maintain smaller class sizes and solicit resources to fund new student support positions in English language learning to reduce teacher-to-student ratios. These objectives are founded on fundamental concepts such as educational equality, restorative practices, professional development, evaluation, and curricular innovation. As enrollment grows, the district anticipates hiring 4,444 new employees to satisfy classroom placements increased student services such as Guidance and English language instructors to fulfill the demand of the expected enrollment growth. The FY 2020 expenditures target three key areas to maintain the improved staffing and accelerated assistance offerings provided since 2015 and enforce the restricted quantity of strategic investments from the 2018 override in the district's work to deal with equity. The budget calls for money to cover Collective bargaining for three BEU contracts and three AFSCME units in the future Budget Proposal. In addition, this proposal includes money to facilitate planned pay migration for all school workers' rank and file progress. Beginning the 2019 fiscal year, the district, a section of the semi-professional squad, was assigned standardized work schedules, including a seven-hour day with an unpaid 30-minute lunch break. This extended learning day allowed schools to serve students better, handle arrivals and departures more quickly, offer efficient services, and collaborate and train with the board of trustees. In the past, the school department had a variety of contingency and emergency funds to support key program goals in the face of uncertainty, unpredictable enrollment changes, special education enrollment, and unforeseen costs. School administrators have expressed concern that they are less likely to be receptive to unforeseen events due to general budget constraints than in previous years. The school leadership faces this limitation by improving budgeting and reporting accuracy. The creation of 15 new employees will increase 15 new health insurance participants. For each adjusted FTE, the average benefit-cost for new employees is around $11,150. Adjustments are made to the actual benefits throughout the budgetary review process. The Business Manager (CFO) revises the final list of added personnel to the FY2020 budget for internal efficiency and balance. The budget is not split between payroll and contractual services. Instead, the district supplies and pays out these services using a one-time funding source. The Circuit Breaker Fund is recurrent, but its composition may change each fiscal year. Therefore, the amount for each student eligible for reimbursement might fluctuate from year to year, based on the actual qualifying expenses of circuit breakers from the previous year. The cash supplied by the Legislature for this account is the other factor of change. The present scheme reimburses the school system for kids with impairments who require tutoring. IEP services cost more than four times as much as the national fund budget. The state transitioned from a pay-as-you-go tuition payback scheme to a larger one in 2005, a basic but still incomplete payment scheme for special education. The 2004 legislation broadened the sorts of reimbursable costs. The percentage of redemptions used by the state under the Special Education Circuit Breaker may also fluctuate each year. References: Education Finance Statistics Center by U.S. Department of Education School District Budgeting by William Hartman (1999) Finance and budget (2022). Retrieved 27 January 2022, from https://www.ptschools.org/ OECD. (2017b). Why look at school funding policies? Retrieved from https://www.oecdilibrary.org/docserver/9789264276147- 5en.pdf?expires=1614069360&id=id&accname=guest&checksum=C923F8023838E4FF 8FF377875D321DA4 Smart School Budgeting: Resources for District (2022). Retrieved 27 January 2022, from https://www.renniecenter.org/sites/default/files/2017-01/SmartSchoolBudgeting.pd Transforming school funding (2022). Retrieved 27 January 2022, from https://files.eric.ed.gov/fulltext/ED545128.pdf