2016-17 Preliminary Budget.xlsx - Adams County School District 14

P RO P O S E D B U D G E T A DA M S C O U N T Y SCHOOL DISTRICT N O. 1 4 FISCAL YEAR 2016-2017 Presented May 26, 2016

5291 East 60th Avenue Commerce City, CO. 80022 WWW.adams14.org

GOVERNMENTAL FUNDS These are the funds through which most governmental functions are typically financed. The funds included in this category are: • General Fund • Special Revenue Funds Nutrition Services Fund Designated Purpose Grants Fund Student Athletic Fee Supported Fund • Debt Service Fund Bond Redemption Fund • Capital Projects Fund Building Fund Capital Reserve Fund

1

GENERAL FUND As the District’s major operating fund, The General Fund accounts for ordinary operating expenditures financed by property taxes, state equalization payments, service charges and other sources. The fund includes all resources and expenditures not legally or properly accounted for in other funds. The General Fund balance is available to the District for any purpose provided it is expended or transferred according to Colorado Revised Statutes. It is the most significant fund in relation to the District’s overall operation.

2

Adams County School District 14 Estimated Ending Fund Balance ‐ June 30, 2016 As of May 16, 2016 Beginning Fund Balance 7‐01‐2015 Non‐spendable Inventories Restricted for: TABOR Colorado Preschool Project Assigned For: Board and School Projects Future Contracts Unassigned Total Beginning Fund Balance

$ 215,466 3,435,539 35,453 3,137,510 191,728 2,197,158 $ 9,212,854

Estimated Revenues Collected

63,135,982

Estimated Expenditures

61,270,126

Excess Revenue over Expenditures Ending Fund Balance 6‐30‐2016 Non‐Spendable Inventories Restricted for: TABOR Assigned for: Board and School Projects Future Contracts Unassigned Total Ending Fund Balance

1,865,856.00

215,466 3,435,539 3,831,799 191,728 3,404,178 $ 11,078,710

3

Adams County School District 14 GENERAL FUND Schedule of Revenue and Fund Balance Proposed Budget - Fiscal Year 2016-2017

DESCRIPTION LOCAL SOURCES 1110 Property Taxes Current (1) 1110 Property Taxes Override (Referendum) 1141 Property Taxes Abatement Levy Total Property Tax Revenue

Audited Revenues 2013-2014 Actual

2012-2013 Actual

$

13,578,776 4,890,000 (379,880) 18,088,896

$

15,632,205 4,890,000 (26,930) 20,495,275

2014-2015 Actual

$

15,100,947 4,890,000 (369,989) 19,620,958

1120 Specific Ownership Tax - In Formula (1) 1120 Specific Ownership Tax - Not in Formula 1310 Preschool Tuition 1310 STARS Tuition 1311 Summer School Tuition 1510 Investment Interest 1710 Athletic Admissions 1851 Charter School Services 1900 E-Rate Revenue 1900 Facility Usage 1900 Miscellaneous Revenue 1930 Sale of Fixed Assets 1972 Grant Indirect Costs 1972 Nutrition Services - Indirect Cost 2050 Payments in Lieu of Taxes TOTAL LOCAL REVENUE SOURCES

886,981 886,981 67,375 87,713 3,570 13,802 41,119 233,278 12,606 128,924 896 423,450 248,833 57,469 21,181,893

1,043,479 1,043,479 159,353 370 7,346 1,114 517 96,949 63,425 149,001 8,250 332,837 50,524 71,107 23,523,026

1,165,119 1,165,120 41,718 138,936 6,318 92,978 39,192 144,870 440,287 274,840 64,963 23,195,299

STATE SOURCES 3110 Revenue State Equalization (1) Less: Allocation to Capital Reserve and Risk Mgmt. 3110 Net State Equalization

32,974,452 (6,380,000) 26,594,452

33,205,813 (3,010,000) 30,195,813

36,011,262 (2,855,000) 33,156,262

3120 Career & Technical Education 3130 ECEA 3140 ELPA 3206 Colorado Read Act 3160 Transportation TOTAL STATE REVENUE SOURCES

117,436 1,428,409 286,791 489,453 28,916,541

105,520 1,661,595 367,442 479,986 32,810,356

145,976 1,549,382 381,488 479,526 35,712,634

7,238,982 62,476 6,994 7,308,452

2,801,979 84,263 5,256 2,891,498

2,679,175 2,679,175

FEDERAL SOURCES 4000 Impact Aid Public Law 874 4000 Department of Defense (JROTC) 4020 Food Care Program - Preschool 4394 American Recovery & Reinvestment Act (ARRA) 4410 Education Jobs (ARRA) TOTAL FEDERAL REVENUE SOURCES SUBSIDIES TO OTHER FUNDS 5223 Transfer to Athletics & Activities Fund 5229 Transfer to Fee Supported Fund 5222 Transfer to Government Designated Purpose Grants

(570,000) -

(525,000) -

(381,000) -

TOTAL SUBSIDIES TO OTHER FUNDSS

(570,000)

(525,000)

(381,000)

TOTAL REVENUES

56,836,886

58,699,880

61,206,108

FUND BALANCE Designated Fund Balance for Appropriation TABOR Reserve TOTAL FUND BALANCE

11,732,190 2,154,269 13,886,459

5,969,346 3,088,733 9,058,079 67,757,959

6,455,548 3,435,539 9,891,087 71,097,195

TOTAL RESOURCES AVAILABLE

$

(1) These Items make up the School Finance Act Total Program Funding Formula Amount of: Total School Finance Act as a % of Total Revenue

70,723,345

47,440,209 83.47%

Total Program Funding is based upon a Funded Pupil Count of 7,208.50

4

$

49,881,497 84.98%

$

52,277,328 85.41%

Adams County School District No 14 GENERAL FUND Schedule of Revenue and Fund Balance Proposed Budget - Fiscal Year 2016-2017 FY 2015-16 Projected Actual

$

15,817,961 4,890,000 1,588,562 22,296,523

Change

$

1,187,362 900,000 50,000 3,000 45,000 66,119 325,000 200,000 55,000 25,128,004

432,252 (1,533,562) (1,101,310)

$

143,047 47,721 (200,000) (1,110,542)

37,300,908 (3,075,000) 34,225,908

605,417 300,000 905,417

105,500 1,200,000 390,000 470,000 36,391,408

114,500 84,000 6,000 1,109,917

2,300,000 2,300,000

$

Fiscal Year 2016-2017 2016-2017 Proposed Budget

-

% of Budget

DESCRIPTION LOCAL SOURCES 1110 Property Taxes Current (1) 1110 Property Taxes Override (Referendum) 1141 Property Taxes Abatement Levy Total Property Tax Revenue

16,250,213 4,890,000 55,000 21,195,213

25.77% 7.75% 0.09% 33.61%

1,330,409 900,000 50,000 3,000 45,000 113,840 325,000 55,000 24,017,462

2.11% 1120 Specific Ownership Tax - In Formula (1) 1.43% 1120 Specific Ownership Tax - Not in Formula 0.08% 1310 Preschool Tuition 0.00% 1310 STARS Tuition 0.00% 1311 Summer School Tuition 0.00% 1510 Investment Interest 0.00% 1710 Athletic Admissions 0.00% 1851 Charter School Services 0.07% 1900 E-Rate Revenue 0.00% 1900 Facility Usage 0.18% 1900 Miscellaneous Revenue 0.00% 1930 Sale of Fixed Assets 0.52% 1972 Grant Indirect Costs 0.00% 1972 Nutrition Services - Indirect Cost 0.09% 2050 Payments in Lieu of Taxes 38.08% TOTAL LOCAL REVENUE SOURCES

37,906,325 (2,775,000) 35,131,325

60.11% -4.40% 55.71%

220,000 1,284,000 390,000 476,000 37,501,325

0.35% 3120 Career & Technical Education 2.04% 3130 ECEA 0.62% 3140 ELPA 0.00% 3206 Colorado Read Act 0.75% 3160 Transportation 59.46% TOTAL STATE REVENUE SOURCES 0.00% FEDERAL SOURCES 3.65% 4000 Impact Aid Public Law 874 0.00% 4000 Department of Defense (JROTC) 0.00% 4020 Food Care Program - Preschool 0.00% 4394 American Recovery & Reinvestment Act (ARRA) 0.00% 4410 Education Jobs (ARRA) 3.65% TOTAL FEDERAL REVENUE SOURCES

2,300,000 2,300,000

STATE SOURCES 3110 Revenue State Equalization (1) Less: Allocation to Capital Reserve and Risk Mgmt. 3110 Net State Equalization

SUBSIDIES TO OTHER FUNDS 5223 Transfer to Athletics & Activities Fund Transfer to Fee Supported Fund Transfer to Government Designated Purpose Grants

(575,000) (97,180) (11,250)

(89,000) 8,180 11,250

(664,000) (89,000) -

-1.05% -0.14% 0.00%

(683,430)

(69,570)

(753,000)

-1.19% TOTAL SUBSIDIES TO OTHER FUNDSS

63,135,982

(70,195)

63,065,787

7,643,171 3,435,539 11,078,710

(1,825,000) (1,825,000)

5,818,171 3,435,539 9,253,710

74,214,692

54,306,231 86.01%

$

(1,895,195)

1,180,716

$

72,319,497

55,486,947 87.98%

100.00% TOTAL REVENUES FUND BALANCE Designated Fund Balance for Appropriation TABOR Reserve TOTAL FUND BALANCE TOTAL RESOURCES AVAILABLE

(1) These Items make up the School Finance Act Total Program Funding Formula Amount of: Total School Finance Act as a % of Total Revenue Total Program Funding is based upon a Funded Pupil Count of 7,208.50

5

Adams County School District 14 General Fund - Budget Proposals Fiscal Year 2016-2017

FTE

General Fund Amount

Revenue 2016-17

6

Expenditures Salaries and Benefits Certified Salaries and Benefits Based on 2015-16 Salary and Benefits Classified Salaries and Benefits Based on 2015-16 Salary and Benefits Support & Tech Salaries and Benefits Based on 2015-16 Salary and Benefits Administration Salaries and Benefits Based on 2015-16 Salary and Benefits Certified Leave Pay (Includes Substitutes) Classified Leave Pay (Includes Substitutes) Support & Tech Leave Pay (Includes Substitutes) Administration Leave Pay (Includes Substitutes) Induction Total Salaries and Benefits Other Expenditures School Supply and Material Budgets Department Supply and Material Budgets Districtwide Utilities Nursing Contract Election Fees County Assessor Fees Independent Auditor Fees School Resource Officers Contract Boys and Girls Club Support Goodwill Industries Senior Citizen Tax Work Program Adams County Consortium Post Secondary Tuition Celebrate the Beat Sub Total Expenditures

$

63,065,787

435.050

30,197,959.00

245.005

10,863,995.00

42.700

3,576,629.00

46.800

6,652,782.00 582,710.00 310,925.00 52,500.00 201,500.00 200,000.00 52,639,000

769.555

1,500,198.00 3,980,955.00 1,897,020.00 393,280.00 15,000.00 49,000.00 45,000.00 162,250.00 65,000.00 96,000.00 5,000.00 4,800.00 150,000.00 61,002,503


FTE

General Fund Amount

New Expenditures Salaries and Benefits Certified Staff Negotiated Package - (Steps, Columns, COLA) Increase Certified Sub to $130/Day Classified Staff Negotiated Package - (Steps, Columns, COLA) Support and Technical Negotiated Package - (Steps, Columns, COLA) Administration Negotiated Package - (Steps, Columns, COLA) Other New Expenditures Increase Custodial Department Supply Budget to $.32/sqft

1,766,127.00 170,000.00 402,530.00 135,370.00 265,299.00 143,600.00

7

Increase Maintenance Department Supply Budget to $.32/sqft Mentoring Program Transfer to Fee Supported Fund for Adult Education Transfer to Fee Supported Fund for Printshop Utility Budget Increase Innovation Contingency Reductions Reallocate START Budget Reduce Administration 5.0 FTE Reduce Support and Technical .50 FTE Reduce Certified 5.0 FTE Total Expenditures Excess Revenue over Expenditures

Proposed Use of Undesignated Reserves Professional Development Innovation/Induction Professional Development - Curriculum Adoption K-5 Curriculum Adoption K-5

145,700.00 40,000.00 180,000.00 32,000.00 100,000.00 95,247.00 (369,500.00) (620,101.00) (47,988.00) (375,000.00) -

63,065,787 $

$

Innovation Planning Allocated on a per student basis

Curriculum Mapping Grades 9-12 Total Proposed Use of Undesignated Reserves

$

-

135,000.00 150,000.00 1,200,000.00 180,000.00 160,000.00 1,825,000


FTE

Not Funded Salaries and Benefits Certified Place a Sub/Teacher at Each Building 10 FTE Other Expenditures Intervention - Tutoring Work 6 hours Week @ 27.90/Hr 10 teachers at each elementary; 9 teachers at each MS and 20 for ACHS 32 weeks Summer Institute 1:1 Devise for 4th and 5th Grade Create add'l Technology Replacement Cycle (5Yr Cycle) Total Expenditures Not Funded

General Fund Amount

750,000.00

$

697,134.00 500,000.00 654,000.00 450,000.00 3,051,134

8

9

Adams County School District No 14 Fiscal Year 2016-2017 Preliminary Budget Expenditures Summary by Object

FY 2012-2013 Actual SALARY AND BENEFITS Teacher Salaries Teacher Benefits Subtotal Teacher Salaries and Benefits

Audited Expenditures FY 2013-2014 Actual %

%

FY 2014-2015 Amount

%

26,436,978 6,931,189 33,368,167

43.27% 11.34% 54.62%

25,377,069 7,079,878 32,456,947

39.95% 11.14% 51.09%

23,694,681 6,788,287 30,482,968

38.82% 11.12% 49.94%

4,120,234 1,011,039 5,131,273

6.74% 1.65% 8.40%

5,127,371 1,289,178 6,416,549

8.07% 2.03% 10.10%

5,460,023 1,391,140 6,851,163

8.95% 2.28% 11.22%

8,562,488 2,863,411 11,425,899

14.01% 4.69% 18.70%

8,903,982 3,007,335 11,911,317

14.02% 4.73% 18.75%

8,420,470 2,993,301 11,413,771

13.80% 4.90% 18.70%

Support & Technical Salaries Support & Technical Benefits Subtotal Support & Technical Benefits

2,247,799 643,229 2,891,028

3.68% 1.05% 4.73%

2,557,042 751,962 3,309,004

4.03% 1.18% 5.21%

2,588,974 779,078 3,368,052

4.24% 1.28%

TOTAL SALARY AND BENEFITS

52,816,367

86.45%

54,093,817

85.15%

52,115,954

85.39%

4,521,012 4,185,078 1,178,843 (1,605,706) 8,279,227

7.40% 6.85% 1.93% -2.63% 13.55%

6.80% 6.25% 1.81% 0.00% 14.85%

4,618,205 3,474,423 821,243 6,520 8,920,391

7.57% 5.69% 1.35% 0.01% 14.61%

TOTAL EXPENDITURES

61,095,594

100.00%

100.00%

61,036,345

100.00%

FUND BALANCE Restricted for Other Items Nonspendable Fund Balance inventory Committed to Board Policy Assigned to Other Purposes Unassigned Fund Balance TOTAL FUND BALANCE

2,154,269 362,079 3,054,780 1,078,690 7,236,641 13,886,459

Administrator Salaries Administrator Benefits Subtotal Administrator Salaries and Benefits Classified Salaries Classified Benefits Subtotal Classified Salaries and Benefits

OPERATING EXPENDITURES Purchased Services Supplies & Materials Capital Outlay Other Expenses & Reserves TOTAL OPERATION EXPENDITIURES

TOTAL EXPENDITURE & FUND BALANCE Total Expenditures Funded Pupil Count Amount Per Pupil

4,316,762 3,968,475 1,150,426 (1,220) 9,434,443 63,528,260

3,088,733 1,018,039 3,569,132 5,065 1,377,110 9,058,079

4,018,217 91,848 3,329,238 154,006 1,619,545 9,212,854

$

74,982,053

$

72,586,339

$

70,249,199

$

61,095,594 6,709.00 9,107

$

63,528,260 6,972.50 9,111

$

61,036,345 7,205.20 8,471

$

$

$

% Change in Funded Pupil Count

3.11%

3.93%

3.34%

% Change in Amount Per Pupil

4.48%

0.05%

-7.03%

10

Adams County School District No 14 Fiscal Year 2016-2017 Preliminary Budget Expenditures Summary by Object

FY 2015-2016 Projected

Fiscal Year 2016-2017 Preliminary Budget NonRecurring Recurring Total Expenditures Expenditures Budget

%

24,125,320 6,887,840 31,013,160

39.38% 11.24% 50.62%

24,672,658 7,394,138 32,066,796

5,197,550 1,443,501 6,641,051

8.48% 2.36% 10.84%

4,996,758 1,502,722 6,499,480

9,481,374 3,284,127 12,765,501

15.47% 5.36% 20.83%

2,002,368 587,356 2,589,724

475,000 475,000

SALARY AND BENEFITS Teacher Salaries Teacher Benefits Subtotal Teacher Salaries and Benefits

25,147,658 7,394,138 32,541,796

38.75% 11.39% 50.15%

-

4,996,758 1,502,722 6,499,480

7.70% 2.32% 10.02%

8,514,040 3,063,410 11,577,450

-

8,514,040 3,063,410 11,577,450

13.12% 4.72% 17.84%

3.27% 0.96% 4.23%

2,855,781 860,730 3,716,511

-

2,855,781 860,730 3,716,511

4.40% 1.33% 5.73%

Support & Technical Salaries Support & Technical Benefits Subtotal Support & Technical Benefits

53,009,436

86.52%

53,860,237

54,335,237

83.73%

TOTAL SALARY AND BENEFITS

4,462,493 3,451,636 194,784 151,777 8,260,690

7.28% 5.63% 0.32% 0.25% 13.48%

5,237,916 5,088,998 161,363 67,273 10,555,550

5,237,916 5,088,998 161,363 67,273 10,555,550

8.07% 7.84% 0.25% 0.10% 16.27%

61,270,126

100.00%

64,415,787

475,000

-

3,435,539 215,466 3,831,799 191,728 3,404,178 11,078,710 $

72,348,836

$

64,415,787

$

61,270,126 7,126.00 8,598

$

64,415,787 7,058.00 9,127

$

% of Budget

$

$

475,000

64,890,787

3,435,539 215,466 3,831,799 191,728 1,579,178 9,253,710

3,435,539 215,466 3,831,799 191,728 1,579,178 9,253,710

9,728,710

$

74,144,497

$

64,890,787 7,058.00 9,194

$

-1.10%

-0.95%

1.50%

6.93%

11

Administrator Salaries Administrator Benefits Subtotal Administrator Salaries and Benefits Classified Salaries Classified Benefits Subtotal Classified Salaries and Benefits

OPERATING EXPENDITURES Purchased Services Supplies & Materials Capital Outlay Other Expenses & Reserves TOTAL OPERATION EXPENDITIURES

100.00% TOTAL EXPENDITURES FUND BALANCE Restricted for Other Items Nonspendable Fund Balance inventory Committed to Board Policy Assigned to Other Purposes Unassigned Fund Balance TOTAL FUND BALANCE TOTAL EXPENDITURE & FUND BALANCE Total Expenditures Funded Pupil Count Amount Per Pupil

% Change in Funded Pupil Count % Change in Amount Per Pupil

12

GENERAL FUND (continued) Risk Related Activities Sub-Fund The Risk Management sub-fund is used to maintain a selfbalancing set of records for insurance reserve requirements. Risk sub-fund appropriations are not included in the General Fund appropriations.

13

Adams County School District No. 14 Risk Management - Sub Fund Schedule of Revenue, Expenditures and Fund Balance Fiscal year 2016-2017 Adopted Budget

Audited Expenditures 2013-14 Actual

2012-13 Actual BEGINNING FUND BALANCE

$

REVENUES Local Sources Claims Revenue Total Revenue

637,288

$

717,253

2014-15 Actual $

954,439

100,323 100,323

83,215 83,215

8,491 8,491

OTHER FINANCING SOURCES Transfers In

1,555,000

1,550,000

1,555,000

TOTAL REVENUES AND OTHER FINANCING SOURCES

1,655,323

1,633,215

1,563,491

TOTAL AVAILABLE RESOURCES

2,292,611

2,350,468

2,517,930

EXPENDITURES Claims and Deductibles Insurance Premiums Other Insurance Liability Property Workers' Compensation Total Insurance Premiums

504,092

79,025

19,493

10,100 630,500 181,266 249,400 1,071,266

807,840 183,075 326,089 1,317,004

660,748 169,059 275,560 1,105,367

TOTAL RESOURCES APPROPRIATED

1,575,358

1,396,029

1,124,860

717,253

954,439

1,393,070

ENDING FUND BALANCE TOTAL APPROPRIATION AND FUND BALANCE

$

2,292,611

-

14

$

2,350,468

$

2,517,930

Adams County School District No. 14 Risk Management - Sub Fund Schedule of Revenue, Expenditures and Fund Balance Fiscal year 2016-2017 Adopted Budget

Budget 2015-16 Projected $

$

1,393,070

2016-17 Proposed budget

Change $

(787,691)

$

605,379 BEGINNING FUND BALANCE REVENUES Local Sources 10,000 Claims Revenue 10,000 Total Revenue

4,621 4,621

5,379 5,379

325,000

1,100,000

1,425,000

329,621

1,105,379

TOTAL REVENUES AND OTHER 1,435,000 FINANCING SOURCES

1,722,691

317,688

31,690

199,200


2,040,379 TOTAL AVAILABLE RESOURCES

230,890

EXPENDITURES Claims and Deductibles Insurance Premiums Other Insurance Liability Property Workers' Compensation Total Insurance Premiums

507,327 276,049 302,246 1,085,622

162,091 (83,758) 30,454 108,787

669,418 192,291 332,700 1,194,409

1,117,312

307,987

1,425,299 TOTAL RESOURCES APPROPRIATED

605,379

9,701

1,722,691

$

317,688

615,080 ENDING FUND BALANCE

$

TOTAL APPROPRIATION AND 2,040,379 FUND BALANCE

15

SPECIAL REVENUE FUNDS Special Revenue Funds, other than expendable trusts or funds for major capital projects, account for the proceeds of specific revenue sources. Expenditures from these funds are legally restricted to the fund’s specific purposes.    

Nutritional Services Fund Designated Purpose Grant Fund Athletic Fund Fee Supported Fund

16

Adams County School District No. 14 Special Revenue Funds Schedule of Revenue, Expenditures and Fund Balance Fiscal year 2016-2017 Proposed Budget

Nutrition Services BEGINNING FUND BALANCE

$

REVENUES Local Sources Charges for Services Investment Earnings Local Grants State Sources State Grants Federal Sources Federal Grants Donated Commodities TOTAL REVENUE OTHER FINANCING SOURCES Transfers In

Special Revenue Funds Student Athletic Activity

Government Designated Purpose

298,440

$

-

$

Fee Supported -

$

$

650,000

75,000

3,239,479

-

-

3,314,479

3,175,000 219,000 3,567,650

7,522,451 11,411,930

39,100

215,000

10,697,451 219,000 15,233,680

664,000

228,980

892,980

-

215,000 -

331,272

98,650 -

-

39,100 -

Total

32,832

352,750 650,000


3,567,650

11,411,930

703,100

443,980

16,126,660


3,866,090

11,411,930

703,100

476,812

16,457,932

EXPENDITURES Instructional Services Pupil Services Central Support Services School Administration Instructional Support Pupil Transportation Business Administration General Administration Other Supporting Services Community Services Food Service Operations Capital Outlay

3,857,039 -

4,854,734.00 2,576,041.00 330,278.00 2,811,144.00 37,796.00 326,818.00 207,426.00 876.00 116,817.00 150,000.00 -

596,171 106,929 -

411,036 -

5,450,905 2,576,041 330,278 106,929 2,811,144 37,796 326,818 207,426 876 527,853 4,007,039 -


3,857,039

11,411,930

703,100

411,036

15,680,005

9,051

0

65,776

74,827

ENDING FUND BALANCE TOTAL APPROPRIATION AND FUND BALANCE

$

3,866,090

$

11,411,930

17

-

$

703,100

$

476,812

$

16,457,932

Adams County School District No. 14 Nutrition Services Fund Schedule of Revenue, Expenditures and Fund Balance Fiscal year 2016-2017 Proposed Budget

2012-13 Actual BEGINNING FUND BALANCE REVENUES Local Sources Charges for Services Investment Earnings Loss on Disposal of Capital Assets State Sources State Grants Federal Sources Federal Reimbursement Donated Commodities Contributed Capital TOTAL REVENUE

$

1,916,323

Audited Expenditures 2013-14 Actual $

1,677,364

2014-15 Actual $

1,386,395

75,498 871 -

62,581 795 -

106,372 373 -

71,859

68,746

63,217

3,827,229 243,957 4,219,414

3,834,424 210,308 4,176,854

3,128,995 182,095 3,481,052


6,135,737

5,854,218

4,867,447

EXPENDITURES Salaries and Benefits Donated Commodities Equipment Repairs and Replacement Contracted Services Purchased Food Supplies and Materials Other Expenses

1,572,296 249,995 62,605 89,073 1,832,325 49,372 602,707

1,540,316 210,308 49,651 56,111 1,818,759 33,605 351,297

1,703,114 182,095 47,024 67,719 1,844,244 77,861 387,930


4,458,373

4,060,047

4,309,987

ENDING FUND BALANCE

1,677,364

1,794,171

557,460

TOTAL APPROPRIATION AND FUND BALANCE

$

6,135,737

$

5,854,218

$

4,867,447

* Fund Balance was restated as the Nutritional Services Fund was switched from an Enterprise Fund to a Special Revenue Fund

18

Adams County School District No. 14 Nutrition Services Fund Schedule of Revenue, Expenditures and Fund Balance Fiscal year 2016-2017 Proposed Budget

Budget 2015-16 Projected *

$

557,460

$

(16,046)

$

541,414 BEGINNING FUND BALANCE

110,681 -

(45,781) -

64,900 -

77,055

7,945

85,000

REVENUES Local Sources Charges for Services Investment Earnings Loss on Disposal of Capital Assets State Sources State Grants Federal Sources Federal Reimbursement Donated Commodities Contributed Capital TOTAL REVENUE

3,428,321 219,000 3,835,057

(321) (38,157)

3,428,000 219,000 3,796,900

4,392,517

(54,203)

4,338,314 TOTAL AVAILABLE RESOURCES

1,684,590 219,000 64,233 7,372 1,752,025 111,145 12,738

167,222 (39,233) 17,628 (2,025) (48,145) (7,738)

1,851,812 219,000 25,000 25,000 1,750,000 63,000 5,000

3,851,103

87,709

541,414

$

2016-17 Proposed Budget

Change

4,392,517

3,938,812 TOTAL RESOURCES APPROPRIATED

(141,912)

$

(54,203)

EXPENDITURES Salaries and Benefits Donated Commodities Equipment Repairs and Replacement Contracted Services Purchased Food Supplies and Materials Other Expenses

399,502 ENDING FUND BALANCE

$


19

Adams County School District No. 14 Government Designated Purpose Grants Fund Schedule of Revenue, Expenditures and Fund Balance Fiscal year 2016-2017 Proposed Budget

Federal CFDA Number BEGINNING FUND BALANCE REVENUES Title I Title I - School Improvement Title I - Part A - Recruitment & Retention Title II Part A - Teacher Quality Title III Part A - ELL Title VI-B - Special Education Title X - McKinney Vento Tiered Intervention Migrant Education Fresh Fruit & Vegetable Adult Education - EL Civics Vocation Education Rehabilitation Services - Vocational Graduation Pathways Math and Science Partnership 21st Century After School Learning Race to the Top Other Federal Grants Middle School Counselor Corp High School Counselor Corp BEST Capital Construction Colorado READ Act ELPA Other State & Local Grants Future Grants TOTAL REVENUES

$

84.010 84.010A 84.010 84.367 84.365 84.027 84.196A 87.377 84.011 10.582 84.002 84.048 84.126 84.360A 84.366 84.287C 84.413A N/A N/A N/A N/A N/A N/A N/A N/A


20


2012-13 Actual -

$

-

2014-15 Actual $

-

2,266,881 289,554 12,328 487,715 207,563 1,411,491 40,327 709,047 13,498 208,896 296,445 65,042 270,894 138,278 341,658 945,536 90,070 469,075 109,644 19,335 1,025,996 685,236 10,104,509

1,897,035 264,427 366,109 155,264 1,267,932 37,827 509,732 12,860 179,960 308,155 60,129 245,878 92,605 281,970 949,743 41,176 343,945 115,182 99,263 481,983 7,711,175

2,230,347 206,980 362,159 229,985 1,426,147 24,389 476,178 104,599 329,536 59,870 262,877 62,843 5,038 807,500 12,264 644,895 93,059 309,897 229,402 221,036 8,099,001

10,104,509

7,711,175

8,099,001




Change -

$

-

$

-

BEGINNING FUND BALANCE

2,733,364 89,893 360,555 193,005 1,423,759 38,864 578,387 179,550 301,536 67,289 286,524 816,476 10,460 543,854 39,567 535,372 624,107 489,194 9,311,756

(581,609) 35,107 (5,801) 13,937 14,238 (578,387) 1,796 (6,031) (460) 6,146 40,433 2,000,000 160,806 1,000,000 2,100,174

2,151,755 125,000 354,754 206,942 1,437,997 38,864 181,346 295,505 67,289 286,524 816,476 10,000 550,000 80,000 2,000,000 535,372 624,107 650,000 1,000,000 11,411,930

REVENUES Title I Title I - School Improvement Title I - Part A - Recruitment & Retention Title II Part A - Teacher Quality Title III Part A - ELL Title VI-B - Special Education Title X - McKinney Vento Tiered Intervention Migrant Education Fresh Fruit & Vegetable Adult Education - EL Civics Vocation Education Rehabilitation Services - Vocational Graduation Pathways Math and Science Partnership 21st Century After School Learning Race to the Top Other Federal Grants Middle School Counselor Corp High School Counselor Corp BEST Capital Construction Colorado READ Act ELPA Other State & Local Grants Future Grants TOTAL REVENUES

9,311,756

2,100,174

11,411,930


21


Federal CFDA Number EXPENDITURES Title I Title I - School Improvement Title I - Part A - Recruitment & Retention Title II Part A - Teacher Quality Title III Part A - ELL Title VI-B - Special Education Title X - McKinney Vento Tiered Intervention Migrant Education Fresh Fruit & Vegetable Adult Education - EL Civics Vocation Education Rehabilitation Services - Vocational Graduation Pathways Math and Science Partnership 21st Century After School Learning Race to the Top Other Federal Grants Middle School Counselor Corp High School Counselor Corp BEST Capital Construction Colorado READ Act ELPA Other State & Local Grants Future Grants TOTAL RESOURCES APPROPRIATED


2012-13 Actual

84.010 84.010A 84.010 84.367 84.365 84.027 84.196A 87.377 84.011 10.582 84.002 84.048 84.126 84.360A 84.366 84.287C 84.413A N/A N/A N/A N/A N/A N/A N/A N/A

2,266,881 289,554 12,328 487,715 207,563 1,411,491 40,327 709,047 13,498 208,896 296,445 65,042 270,894 138,278 341,658 945,536 90,070 469,075 109,644 19,335 1,025,996 685,236 10,104,509

ENDING FUND BALANCE

1,897,035 264,427 366,109 155,264 1,267,932 37,827 509,732 12,860 179,960 308,155 60,129 245,878 92,605 281,970 949,743 41,176 343,945 115,182 99,263 481,983 7,711,175

-


$

22

10,104,509

2014-15 Actual 2,230,347 206,980 362,159 229,985 1,426,147 24,389 476,178 104,599 329,536 59,870 262,877 62,843 5,038 807,500 12,264 644,895 93,059 309,897 229,402 221,036 8,099,001

-

$

7,711,175

-

$

8,099,001


Budget 2015-16 Projected 2,733,364 89,893 360,555 193,005 1,423,759 38,864 578,387 179,550 301,536 67,289 286,524 816,476 10,460 543,854 39,567 535,372 624,107 489,194 9,311,756

(581,609) 35,107 (5,801) 13,937 14,238 (578,387) 1,796 (6,031) (460) 6,146 40,433 2,000,000 160,806 1,000,000 2,100,174

-

$


Change

9,311,756

2,151,755 125,000 354,754 206,942 1,437,997 38,864 181,346 295,505 67,289 286,524 816,476 10,000 550,000 80,000 2,000,000 535,372 624,107 650,000 1,000,000 11,411,930

-

$

2,100,174

-

$

EXPENDITURES Title I Title I - School Improvement Title I - Part A - Recruitment & Retention Title II Part A - Teacher Quality Title III Part A - ELL Title VI-B - Special Education Title X - McKinney Vento Tiered Intervention Migrant Education Fresh Fruit & Vegetable Adult Education - EL Civics Vocation Education Rehabilitation Services - Vocational Graduation Pathways Math and Science Partnership 21st Century After School Learning Race to the Top Other Federal Grants Middle School Counselor Corp High School Counselor Corp BEST Capital Construction Colorado READ Act ELPA Other State & Local Grants Future Grants TOTAL RESOURCES APPROPRIATED ENDING FUND BALANCE

11,411,930

23


Adams County School District No. 14 Athletics & Activities Sub-Fund Schedule of Revenue, Expenditures and Fund Balance Fiscal year 2016-2017 Proposed Budget



$

REVENUES Local Sources Gate Admissions Student Fees Total Revenue

151,532

$

158,971

2014-15 Actual $

128,283

9,371 11,445 20,816

8,087 10,065 18,152

11,225 13,128 24,353


570,000

525,000

381,000


590,816

543,152

405,353


742,348

702,123

533,636

EXPENDITURES Instructional Services Classified Salaries & Benefits Purchased Services Supplies & Materials Capital Outlay Other Expenses

295,371 58,794 88,412 67,705 73,095

282,663 59,730 75,310 81,636 74,501

290,051 64,035 75,029 28,762 75,759


583,377

573,840

533,636

ENDING FUND BALANCE

158,971

128,283


$

742,348

$

24

702,123

-

$

533,636

Adams County School District No. 14 Athletics & Activities Sub-Fund Schedule of Revenue, Expenditures and Fund Balance Fiscal year 2016-2017 Proposed Budget


-

$

17,100 22,153 39,253

-

$

-

BEGINNING FUND BALANCE

REVENUES Local Sources 17,000 Gate Admissions 22,100 Student Fees 39,100 Total Revenue

(100) (53) (153)


575,000

89,000

664,000

614,253

88,847

TOTAL REVENUES AND OTHER 703,100 FINANCING SOURCES

614,253

88,847

703,100 TOTAL AVAILABLE RESOURCES EXPENDITURES Instructional Services Classified Salaries & Benefits Purchased Services Supplies & Materials Capital Outlay Other Expenses

439,205 41,189 29,585 12,439 91,835

11,696 42,911 31,014 61 3,165

450,901 84,100 60,599 12,500 95,000

614,253

88,847

703,100 TOTAL RESOURCES APPROPRIATE

-

$


Change

614,253

-

$

88,847

-

$

ENDING FUND BALANCE

TOTAL APPROPRIATION AND 703,100 FUND BALANCE

25

Adams County School District No. 14 Fee Supported Fund Schedule of Revenue, Expenditures and Fund Balance Fiscal year 2016-2017 Proposed Budget



$

440,433

REVENUES Local Sources Tuition and Fees - Adult Education Outside Printing - Prinitshop Facility Use Fee Before/After School Fees Investment Earnings TOTAL REVENUE

$

280,135

2015-16 Actual $

294,972

41,597 490 42,087

39,389 221 39,610

221 39,610

-

-

-


42,087

39,610

39,610


482,520

319,745

334,582

EXPENDITURES Salaries and Benefits - Adult Educations Salaries and Benefits - Printshop Salaries and Benefits - Facility Use Salaries and Benefits - Daycare Purchased Services - Adult Education Purchased Services - Printshop Purchased Services - Facility Use Supplies and Materials - Adult Education Supplies and Materials - Printshop Other Expense - Adult Education Other Expense - Printshop

136,175 10,694 17,837 37,679 -

195,882 24,490 9,950 -

180,107 24,493 14,361 11,391 -


202,385

230,322

230,352

ENDING FUND BALANCE

280,135

89,423

104,230

OTHER FINANCING SOURCES Transfers In - Adult Education Transfers In - Printshop Transfers Out - Facility Use TOTAL OTHER FINANCING SOURCES


$

482,520

26

$

319,745

39,389

$

334,582

Adams County School District No. 14 Fee Supported Fund Schedule of Revenue, Expenditures and Fund Balance Fiscal year 2016-2017 Proposed Budget


$

104,230

2016-17 Proposed

Change $

(71,398)

$

32,832 BEGINNING FUND BALANCE

26,810 8,925 31,487 117,955 185,177

8,190 6,075 3,513 12,045 29,823

80,200 89,000 169,200

99,800 (28,000) (12,020) 59,780

354,377

89,603

TOTAL REVENUES AND OTHER 443,980 FINANCING SOURCES

458,607

18,205

476,812 TOTAL AVAILABLE RESOURCES

198,005 42,365 5,577 117,955 1,232 60,347 756 5,548 25,974 (31,984)

9,900 13,885 6,403

(86,516)

425,775

(56,108)

32,832

74,313

458,607

35,000 15,000 35,000 130,000 215,000

REVENUES Local Sources Tuition and Fees - Adult Education Outside Printing - Prinitshop Facility Use Fee Before/After School Fees Investment Earnings TOTAL REVENUE

OTHER FINANCING SOURCES 180,000 Transfers In - Adult Education 61,000 Transfers In - Printshop (12,020) Transfers Out - Facility Use 228,980 TOTAL OTHER FINANCING SOURCES

207,905 56,250 11,980 123,853 1,500 89,548 6,000 5,500 26,000 1,000 (118,500)

268

(48)

$

18,205

EXPENDITURES Salaries and Benefits - Adult Educations Salaries and Benefits - Printshop Salaries and Benefits - Facility Use Salaries and Benefits - Daycare Purchased Services - Adult Education Purchased Services - Printshop Purchased Services - Facility Use Supplies and Materials - Adult Education Supplies and Materials - Printshop Other Expense - Adult Education Other Expense - Printshop

411,036 TOTAL RESOURCES APPROPRIATED 65,776 ENDING FUND BALANCE

$

TOTAL APPROPRIATION AND 476,812 FUND BALANCE

27

28

DEBT SERVICE FUNDS Debt Service Funds account for the accumulation of resources and payment of long-term debt used to finance governmental activities capital construction and acquisition.

Bond Redemption Fund The Bond Redemption Fund is used to finance and account for the payment of principal and interest on all long-term debt of the District per C.R.S. 22- 45-103(b).

29

Adams County School District 14 Bond Redemption Fund Current Debt Obligation Details The Series 2005 General Obligation Bonds dated February 25, 2005, were issued for a total of $15,480,000 to finance improvements to school buildings. Principal payments are due annually on December 1st through 2016. Interest payments are due semiannually on June 1st and December 1st, with interest accruing at rates ranging from 3.5% to 5.0%. The Series 2006 General Obligation Bonds dated December 21, 2006, were issued for a total of $64,625,000 to finance a new high school and make improvements to school buildings. Principal payments began, and were due annually beginning on December 1, 2009. Interest payments are due semi-annually on June 1st and December 1st, with interest accruing at rates ranging from 4.0% to 5.125%. A portion of these bonds a part of advance refunding to purchase the Series 20013 General Obligation bonds. The remaining principal payments on this Series 2006 will be made annually on December 1, 2013 through 2016. Interest will continue to be due semi-annually, and paid on June 1st and December 1st through June 2017. The Series 2007 General Obligation Bonds dated January 23, 2007, were issued for a total of $10,000,000 to finance improvements to school buildings. Principal payments are due annually beginning December 1, 2024 through 2027. Interest payments are due semi-annually on June 1st and December 1st with interest accruing at rates ranging from 4.0% to 5.25%. The Series 2008 General Obligation Bonds dated January 3, 2008, were issued for a total of $3,375,000 to finance improvements to school buildings. Principal payments are due annually beginning on December 1, 2008, through 2031. Interest payments are due semi-annually on June 1st and December 1st, with interest accruing at rates ranging from 4.0% to 5.25%. The Series 2013 General Obligation Bonds dated March 11, 2014, were issued for a total of $62,245,000 to refinance the Series 2006 General Obligation Bonds dated December 21, 2006. Principal payments are due annually beginning on December 1, 2013, through 2031. Interest payments are due semi-annually on June 1st and December 1st, with interest accruing at rates ranging from 2.0% to 5.25%. Advance Refunding On March 11, 2013, the District issued $62,245,000 of General Obligation Refunding Bonds, Series 2013, with interest rates ranging from 2.000% to 5.250% to refund a portion of the District’s outstanding General Obligation, Series 2006 bonds. The net proceeds of $70,978,155 (including $552,630 for registered coupons issued, after issuance costs of $541,451, plus premium of $8,721,976) were used to advance refund the a portion of the Series 2006 bonds with a total principal amount of $60,130,000 with interest rates ranging from 4.000% to 5.125%.

30

Adams County School District 14 Bond Redemption Fund Debt Service Details (continued) On April 1, 2015, the District refinanced their series 2007 and 2008 General Obligation Bonds, Series 2015, with interest rates ranging from 2.000% to 5.000%. The net proceeds of $13,575,423 were used to advance refund the a portion of the Series 2007 and Series 2008 bonds with a total principal amount of $11,590,000 with interest rates ranging from 4.000% to 5.250%. The net proceeds were used to purchase U.S. government securities. Those securities were deposited into an irrevocable trust with an escrow agent to provide for future debt service payments on the refunded bonds. As a result, the refundable bonds are considered to be defeased, and the related liability for the bonds has been removed from the District’s liabilities. The advance refundings were done in order to reduce total debt payments. The refunding decreased the District’s total debt service payments by approximately $4.0 million and $1.6 million respectively. For tax purposes primary residential property is assessed at 7.96% of its fair market value. All other taxable property is assessed at 29.00% of its fair market value. Per Colorado Revised Statutes (CRS), the legal general obligation bonded debt is restricted by applying one of three tests determine the legal debt margin for Colorado school districts. The three tests are as follows: 

Standard Test - 20% of assess property valuation.



Fast Growing District Test - 25% of assessed property valuation, it the district qualifies as a “Fast Growing” school district. o Adams County School District 14 does not qualify as a fast growing district.



Market Value Test - 6% of market value. o Please note that the courts have not adjudicated this test to be compliant with the Taxpayers Bill of Rights (TABOR). This test yields a higher debt limit.

Using the Standard Test the District’s estimated unused legal debt capacity for fiscal year 2015-2016 is $48,377,890, or 38.74% of the legal debt limit available per the standard test the District utilizes.

31

Adams County School District No. 14 Bond Redemption Fund Schedule of Revenue, Expenditures and Fund Balance Fiscal year 2016-2017 Proposed Budget


$

REVENUES Local Sources Property Taxes Current Investment Income Payments in Lieu of Taxes TOTAL REVENUE

5,533,929

Audited Expenditures 2013-14 Actual $

6,343,365 4,920 43,623 6,391,908

6,292,697

2014-15 Actual $

6,995,467 3,085 23,158 7,021,710

5,496,914

7,186,029 3,456 43,924 7,233,409

OTHER FINANING SOURCES Refund Bonds Issued Issuance Bond Premium TOTAL OTHER FINANCING SOURCES

62,797,630 8,721,976 71,519,606

TOTAL REVENUE AND OTHER FINANCING SOURCES

77,911,514

7,021,710

20,856,467


83,445,443

13,314,407

26,353,381

1,680,000 750,000 95,000 2,525,000

1,765,000 775,000 100,000 1,105,000 3,745,000

1,835,000 810,000 105,000 940,000 3,690,000

335,516 1,652,678 405,400 151,538 563,008 3,108,140 539,854 1,597 6,174,591

256,788 106,150 405,400 147,638 3,163,206 4,079,182 (8,356) 1,667 7,817,493

187,030 74,450 136,222 143,537 2,577,531 67,824 3,186,594 117,652 1,746 6,995,992

EXPENDITURES Principal Retirement 2004 Refinanced G.O. Bonds 2006A G.O. Bonds 2008A G.O. Bonds 2013A G.O. Bonds 2015A G.O. Bonds Total Principal Retirement Interest Payments 2004 Refinanced G.O. Bonds 2006A G.O. Bonds 2007A G.O. Bonds 2008A G.O. Bonds 2013A G.O. Bonds 2015A G.O. Bonds Total Interest Payments Bond Issuance Cost Bond Trustee Agent Fee TOTAL EXPENDITURES

-

11,590,000 2,033,058 13,623,058

OTHER FINANCING USES Payment of Refunded Bond Escrow Agent TOTAL OTHER FINANCING USES

70,978,155 70,978,155


77,152,746

7,817,493

20,501,398

6,292,697

5,496,914

5,851,983

ENDING FUND BALANCE - RESTRICTED TOTAL APPROPRIATION AND FUND BALANCE Assessed Valuation Mill Levy

$

83,445,443

-

$

13,314,407

13,505,406 13,505,406

$

26,353,381

565,354,990

614,550,160

612,220,050

11.475

11.475

12.105

32

Adams County School District No. 14 Bond Redemption Fund Schedule of Revenue, Expenditures and Fund Balance Fiscal year 2016-2017 Proposed Budget

Budget 2015-16 Projected Actual $

5,851,983

$

6,586,719 5,048 43,018 6,634,785

(811,546)

$

33,403 2 (18) 33,387

-

6,634,785

33,387

12,486,768

(778,159)

5,040,437 BEGINNING FUND BALANCE

6,620,122 5,050 43,000 6,668,172

-

-

1,200,000 1,085,000 115,000 2,400,000

104,000 56,250 11,400 2,563,431 499,500 3,234,581 1,750 7,446,331

(77,000) (29,125) (4,500) (20,000) (110,625) (1,920,625)

27,000 27,125 6,900 2,563,431 479,500 3,103,956 1,750 5,505,706

(1,920,625)

5,040,437

1,142,466

12,486,768 640,714,560 10.281

$

(778,159) 3,203,572.800 -

OTHER FINANING SOURCES Refund Bonds Issued Issuance Bond Premium TOTAL OTHER FINANCING SOURCES

11,708,609 TOTAL RESOURCES AVAILABLE

(800,000) 985,000 5,000 (2,000,000) (1,810,000)

7,446,331

REVENUES Local Sources Property Taxes Current Investment Income Payments in Lieu of Taxes TOTAL REVENUE

TOTAL REVENUE AND OTHER 6,668,172 FINANCING SOURCES

2,000,000 100,000 110,000 2,000,000 4,210,000

-

$


Change

-

EXPENDITURES Principal Retirement 2004 Refinanced G.O. Bonds 2006A G.O. Bonds 2008A G.O. Bonds 2013A G.O. Bonds 2015A G.O. Bonds Total Principal Retirement Interest Payments 2004 Refinanced G.O. Bonds 2006A G.O. Bonds 2007A G.O. Bonds 2008A G.O. Bonds 2013A G.O. Bonds 2015A G.O. Bonds Total Interest Payments Bond Issuance Cost Bond Trustee Agent Fee TOTAL EXPENDITURES OTHER FINANCING USES Payment of Refunded Bond Escrow Agent TOTAL OTHER FINANCING USES

5,505,706 TOTAL RESOURCES APPROPRIATED 6,202,903 ENDING FUND BALANCE - RESTRICTED

$

TOTAL APPROPRIATION AND 11,708,609 FUND BALANCE 643,918,133 Assessed Valuation 10.281 Mill Levy

33

Adams County School District 14 BOND REDEMPTION FUND Calculation of Legal Debt Fiscal year 2016-2017

The Following table provides the calendar year 2017 estimate and historical calculations of the legal debt margin based upon the standard test.

Calendar Year Est 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007

Assessed Value 643,918,133 640,714,560 612,220,050 614,550,160 565,354,990 556,858,540 562,682,490 572,114,590 558,471,120 542,700,500 453,286,470

20% Test 20% 20% 20% 20% 20% 20% 20% 20% 20% 20% 20%

Maximum Debt Limit (CRS) 22-42104(1)(a) 128,783,627 128,142,912 122,444,010 122,910,032 113,070,998 111,371,708 112,536,498 114,422,918 111,694,224 108,540,100 90,657,294

Less Bonded Debt on July 1st 72,305,000 76,515,000 81,050,000 81,045,000 84,790,000 85,200,000 87,440,000 89,405,000 91,130,000 92,630,000 90,635,000

Legal Debt Limit 56,478,627 51,627,912 41,394,010 41,865,032 28,280,998 26,171,708 25,096,498 25,017,918 20,564,224 15,910,100 22,294

The Following is the amortization schedule for the District's General Obligation Bond issues showing the debt service to be paid in fiscal year 2016-2017 and the future years on bonds currently outstanding.

34

% of Legal Debt Limit Available 43.86% 40.29% 33.81% 34.06% 25.01% 23.50% 22.30% 21.86% 18.41% 14.66% 0.02%

35

Total

1,085,000.00

27,125.00

230,000.00

9,200.00

60,200,000.00

23,634,678.27

98,281.25

Dec 2031

6,290,000.00

98,281.25

June 2031

193,671.88

Dec 2030

6,105,000.00

193,671.88

June 2030

337,290.63

Dec 2029

5,820,000.00

337,290.63

June 2029

481,040.63

Dec 2028

5,525,000.00

481,040.63

June 2028

543,540.63

Dec 2027

2,500,000.00

543,540.63

June 2027

603,140.63

Dec 2026

2,480,000.00

603,140.63

664,390.63

Dec 2025

June 2026

664,390.63

June 2025 2,450,000.00

725,515.63

Dec 2024

2,445,000.00

725,515.63

836,140.63

4,425,000.00

Dec 2023

June 2024

836,140.63

921,140.63

4,250,000.00

Dec 2022

June 2023

921,140.63

993,890.63

4,100,000.00

Dec 2021

June 2022

993,890.63

1,072,990.63

3,955,000.00

Dec 2020

June 2021

1,072,990.63

1,167,115.63

3,765,000.00

Dec 2019

June 2020

1,167,115.63

1,256,615.63

1,281,715.63

1,281,715.63

1,281,715.63

Interest

June 2019

3,580,000.00

2,510,000.00

Principal

Dec 2018

27,000.00

4,600.00

1,256,615.63

115,000.00

115,000.00

GO Bonds 2013

June 2018

1,200,000.00

27,125.00 2,300.00

1,085,000.00

Dec 2017

27,000.00

GO Bonds 2008 Principal Interest 2,300.00

1,200,000.00

GO Bonds 2006 Principal Interest

June 2017

Dec 2016

GO Bonds 2004 Principal Interest

Adams County School District No 14 Debt Schedule for all District Limited Obligation Bonds Proposed Budget 2016-2017

9,590,000.00

2,725,000.00

2,505,000.00

2,290,000.00

2,070,000.00

Principal

GO Bonds 2015

4,849,500.00

68,125.00

68,125.00

130,750.00

130,750.00

188,000.00

188,000.00

239,750.00

239,750.00

239,750.00

239,750.00

239,750.00

239,750.00

239,750.00

239,750.00

239,750.00

239,750.00

239,750.00

239,750.00

239,750.00

239,750.00

239,750.00

239,750.00

239,750.00

Interest

72,305,000.00

6,290,000.00

-

6,105,000.00

-

5,820,000.00

-

5,525,000.00

-

5,225,000.00

-

4,985,000.00

-

4,740,000.00

-

4,515,000.00

-

4,425,000.00

-

4,250,000.00

-

4,100,000.00

-

3,955,000.00

-

3,765,000.00

-

3,580,000.00

-

2,625,000.00

-

2,400,000.00

28,547,503.27

98,281.25

98,281.25

193,671.88

193,671.88

337,290.63

337,290.63

481,040.63

481,040.63

611,665.63

611,665.63

733,890.63

733,890.63

852,390.63

852,390.63

965,265.63

965,265.63

1,075,890.63

1,075,890.63

1,160,890.63

1,160,890.63

1,233,640.63

1,233,640.63

1,312,740.63

1,312,740.63

1,406,865.63

1,406,865.63

1,496,365.63

1,496,365.63

1,523,765.63

1,523,765.63

1,580,190.63

Grand Total Principal Interest

36

CAPITAL PROJECT FUNDS Capital Project Funds accounts for transfers of revenue financial resources used to acquire or construct major public capital facilities and improvements. It accounts for the construction, improvement and/or purchase of public facilities including land, buildings and furnishings.  Capital Reserve Fund – Is used to for recurring capital expenditures which is defined as 1) are included in almost every budget and 2) will have no significant impact on the operating budget.

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Adams County School District No. 14 Capital Reserve Fund Schedule of Revenue, Expenditures and Fund Balance Fiscal year 2016-2017 Proposed Budget



$

REVENUES Local Sources Investment Income Other Local Revenue Proceeds From Sale of Land TOTAL REVENUE

734,884

$

2,193,505

2014-15 Actual $

980,636

2,349 127,016 129,365

1,723 1,723

1,875 349 2,224

OTHER FINANCING SOURCES Transfers In Transfers Out TOTAL OTHER FINANCING SOURCES

4,825,000 4,825,000

1,460,000 1,460,000

1,300,000 1,300,000

TOTAL REVENUE AND OTHER FINANCING SOURCES

4,954,365

1,461,723

1,302,224


5,689,249

3,655,228

2,282,860

147,011 171,917 1,244,408 1,694,408 3,257,744

33,592 52,256 1,580,565 75,903 59,679 5,837 31,352 33,108 16,017 59,274 34,813 211,280 101,990 63,525 19,963 57,438 2,436,592

396,810 6,021 9,973 66,662 1,755 14,249 173,551 20,574 75,614 8,809 11,784 785,802

152,648 85,352 238,000

159,983 78,017 238,000

179,619 70,381 250,000


3,495,744

2,674,592

1,035,802

ENDING FUND BALANCE

2,193,505

980,636

1,247,058

EXPENDITURES Capital Outlay Projects Vehicles Technology Systems Demolition Old High School Site Purchase of Land Playground Equipment Building Remodel Hazmat/Asbestos Security Concrete & Asphalt Grounds Painting HVAC Roof BEST Grant Matching Maintenance Instructional Equipment Safety Other Capital Expenditures Subtotal Capital Outlay Debt Services Lease Principal Lease Interest Subtotal Debt Service


$

5,689,249

$

38

3,655,228

$

2,282,860

Adams County School District No. 14 Capital Reserve Fund Schedule of Revenue, Expenditures and Fund Balance Fiscal year 2016-2017 Proposed Budget


1,247,058

$

4,051,391

$

5,298,449 BEGINNING FUND BALANCE REVENUES Local Sources 5,000 Investment Income Other Local Revenue Proceeds From Sale of Land 5,000 TOTAL REVENUE

5,688 3,527,829 3,533,517

(688) (3,527,829) (3,528,517)

2,750,000 2,750,000

(1,400,000) (1,400,000)

OTHER FINANCING SOURCES 1,350,000 Transfers In Transfers Out 1,350,000 TOTAL OTHER FINANCING SOURCES

6,283,517

(4,928,517)

TOTAL REVENUE AND OTHER 1,355,000 FINANCING SOURCES

7,530,575

(877,126)

430,434 482,283 4,500 100,000 100,000 641,728 48,181 100,000 25,000 50,000 1,982,126

537,800 3,533,517 5,000 100,000 100,000 50,000 1,000,000 160,316 350,000 25,000 541,816 6,403,449

-

2,232,126

4,421,323

5,298,449

(5,298,449)

7,530,575

6,653,449 TOTAL RESOURCES AVAILABLE

(430,434) 55,517 3,533,517 500 50,000 (641,728) 1,000,000 112,135 250,000 491,816 4,421,323

187,877 62,123 250,000

$


Change

$

(877,126)

187,877 62,123 250,000

EXPENDITURES Capital Outlay Projects Vehicles Technology Systems Demolition Old High School Site Purchase of Land Playground Equipment Building Remodel Hazmat/Asbestos Security Concrete & Asphalt Grounds Painting HVAC Roof BEST Grant Matching Maintenance Instructional Equipment Safety Other Capital Expenditures Subtotal Capital Outlay Debt Services Lease Principal Lease Interest Subtotal Debt Service

6,653,449 TOTAL RESOURCES APPROPRIATED -

$

ENDING FUND BALANCE


39

FIDUCIARY FUNDS Fiduciary fund types are used to account for assets held by the government in a trustee capacity. The District utilizes the following:

• AGENCY FUNDS School Activity Fund The School Activity Fund does not require a budget because it does not directly support educational programs.

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