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Budget Overview 2004-2005

Budget Overview 2004-2005. PARKROSE SCHOOL DISTRICT MARY LARSON DIRECTOR OF BUSINESS SERVICES MICHAEL TAYLOR SUPERINTENDENT JANUARY 26, 2004. Enrollment Projections. Schools are funded largely by the State of Oregon based on student enrollment or weighted Average Daily Membership (ADMw)

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Budget Overview 2004-2005

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  1. Budget Overview2004-2005 PARKROSE SCHOOL DISTRICT MARY LARSON DIRECTOR OF BUSINESS SERVICES MICHAEL TAYLOR SUPERINTENDENT JANUARY 26, 2004

  2. Enrollment Projections • Schools are funded largely by the State of Oregon based on student enrollment or weighted Average Daily Membership (ADMw) • That is the sum of resident students plus adjustments for special education, ELL and other factors

  3. Enrollment Projections • It appears that our enrollment this year is flat compared to 2002-2003 • 02-03 was 3576 (January 2003) • 03-04 is 3578 (January 2004) • 04-05 projected to be flat

  4. Enrollment History

  5. Enrollment History Five Years

  6. Flat Enrollment Growth • Since funding is based on the number of students, flat or declining enrollment gives no growth for revenues • Declining enrollments result with less revenues • There is a one-year “hold harmless”

  7. Review of 03-04 Budget • The Parkrose Adopted budget is based on $5.05 billion Governor's budget for 03-04 • The Adopted budget included $3,457,500 from the Multnomah County Income Tax

  8. Multnomah County I-tax • Multnomah County Personal Income Tax, passed by voters on May 20, 2003 • Personal income tax of 1.25% imposed effective January 1, 2003 on residents of Multnomah County • $863 per student county wide

  9. Multnomah County I-tax • I-tax will be reduced if State funding levels exceed $4.8 billion • County officials have reduced the original estimates of the amount to be received from the I-tax • Parkrose’s estimated revenue was reduced from $3.4 million to $2.6 million • $863 versus $618 per student county wide

  10. Multnomah County I-taxUsed For • Restore staffing in the schools – a total of 19.2 FTE • Classroom sizes average 26:1 elementary • Outdoor School reinstated • Added support staff for English Language Learners, technology and elective classes • Replaced outdated math textbooks

  11. Multnomah County I-taxUsed For • Textbook adoption cycle current • Technology replacement funded • Elementary Custodial positions reinstated • Building sustainability for three years and stretching I-tax to four years

  12. State Funding Review • Legislature appropriated $5.2 billion for K-12 schools for 2003-2005 with another $100 million possible if revenue targets are met • Parkrose’s budget is based on $5.05 billion for 03-04 (plus I-tax dollars) • I-tax will be reduced if state funding exceeds $4.8 billion

  13. State Funding Review • Imposed a three-year tax increase package to fund the State budget. • A special election is scheduled for February 3, 2004 on whether to repeal the tax increase package

  14. State Funding Review • Repeal of the State tax measures reduces SSF funding by $503 per ADMw or $2.2 million less for Parkrose • All of this funding reduction would occur in the 2004-2005 budget year

  15. Potential Revenue Shortfall • Revenue Shortfall Causes • Ending fund balance decline • If State tax increase is repealed - $2.2 Million • County collections for I-tax

  16. Outlook for 2004-2005 • If the tax increase is repealed, we will likely face a revenue shortfall in the range of $1.0 million to $1.5 million • Assumes discretionary and “one-time” spending is cut from county tax funding • Assumes halt of PERS litigation reserves • The reductions of $1.0 million to $1.5 million would need to be made after the above cuts

  17. General Fund Revenues 2004-05

  18. Summary • If the State tax increase is upheld, Parkrose can continue with our plan for use of the county tax revenue • The District needs to carefully monitor enrollment trends and be prepared to deal with the implications of declining enrollments

  19. Summary • The State tax election will be very important to Parkrose. A $1.0 million budget reduction cannot be absorbed by the county income tax and fund balance • Our challenge will be to maintain current service levels if the tax is repealed

  20. Summary • I-tax can make up some of the shortfall but will not fund all the state loss • REMEMBER TO VOTE

  21. 2004-05 Budget Process

  22. Conclusion • Questions • Presentation at www.parkrose.k12.or.us • Contacts: • Mary_Larson@parkrose.k12.or.us • Michael_Taylor@parkrose.k12.or.us

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