SCHOOL DISTRICT OF PALM BEACH COUNTY DISTRICT OF PALM BEACH COUNTY Agenda ... CO&DS Withheld for...

SCHOOL DISTRICT OF PALM BEACH COUNTY

Agenda School Board Meeting – November 17, 2015 Category Consent

Sub-Category Budget

Title B1 Budget Amendments – September 2015 Description These amendments reflect all budget adjustments for the month of September 2015.

1. General Fund 2. Debt Service Fund 3. Capital Projects Fund 4. Special Revenue Fund – Food Service 5. Special Revenue Fund – Other Federal Programs 6. Internal Service Fund

Recommendation I recommend the School Board approve the budget amendments for month-end September 30, 2015.

CONTACT:

Michael J. Burke ([email protected])

Heather Knust ([email protected])

Attachments September 2015 Amendments

FINANCIAL IMPACT

The financial impact to the General Fund is an increase of $4,172. The financial impact to the Debt Service Fund is an increase of $71,511,320. The financial impact to the Capital Projects Fund is an increase of $27,972. The financial impact to the Special Revenue Fund – Other Federal Programs is an increase of $18,468,178. The remaining funds had no financial impact. All funds have been appropriated in school, department, and reserve budgets.

Board Meeting Date: November 17, 2015

SCHOOL DISTRICT OF PALM BEACH COUNTY

EXECUTIVE SUMMARY DIVISION OF FINANCIAL MANAGEMENT

BUDGET AMENDMENTS – SEPTEMBER 2015

1. General Fund (pages 1- 2) General Fund revenue increased $4,172. Other appropriations have been amended to direct resources as needed and as required by statute.

2. Debt Service Fund (pages 3- 4) Debt Service Fund revenue increased $71,511,320. The increase is related to the 2015C Certificates

of Participation refunding issue. Appropriations have been amended to direct resources where needed. 3. Capital Projects Fund (pages 5- 6) Capital Projects Fund revenue increased $27,972. Appropriations have been amended as needed to

carry out the Five Year Capital Plan. 4. Special Revenue Fund – Food Service (pages 7- 8) No net change to revenue. 5. Special Revenue Fund - Other Federal Programs (pages 9- 10) Special Revenue Fund – Other Federal Programs revenue increased $18,468,178. Appropriations

have been adjusted in accordance with the terms of each grant. Major adjustments to revenue are shown below:

Federal Direct: Developing Knowledge about What Works to Make Schools Safe $3,909,116 (FY 2015 Award carryover) I TEACH Transition to Teaching (FY 2012 Award carryover) $ 555,665 My Grad Plan Project (FY 2011 Award carryover) $ 426,673 CDC Grant (FY 2016 Award) $ 370,000 Federal through State and Local:

Adult Ed English Literacy/General Ed (FY 2016 Award) $1,894,526 Head Start (FY 2015 Award carryover) $1,016,147 Title I Part A School Improvement Fund 1003(g) Cohort 3 (FY 2016 Award) $ 799,446 21st CCL – Dazzling Starz (FY 2016 renewal award) $ 664,620. Project Transition Refugee Education Program (FY 2016 renewal award) $ 580,313 21st CCL – Cosmic Kidz (FY 2016 renewal award) $ 559,680 21st CCL – Whiz Kidz (FY 2016 award renewal) $ 559,680 21st CCL – Blazing Stars (FY 2016 award renewal) $ 559,680 21st CCL – Shining Starz (FY 2016 renewal award) $ 552,008 21st CCL – Kreative Kidz (FY 2016 renewal award) $ 527,188 Adult Ed English Literacy/Civics Ed (FY 2016 Award) $ 478,980 Local: Quality Counts Early Learning Tech. Asst. Specialists (FY 2015 Award carryover) $ 395,170 Pew Literacy Linkages (FY 2015 Award carryover) $ 348,830 Pew Galvanizing Changes in Math & Science (FY 2011 Award carryover) $ 212,244

6. Internal Service Fund (pages 11- 12) No net change to revenue. Appropriations have been amended to direct resources as needed.

RevisedAccount Revenue RevenueNumber (9/9/2015) Amendments (9/30/2015)

FEDERAL DIRECT:Federal Impact 3121 7,000$ -$ 7,000$ Reserve Officers Training Corps (ROTC) 3191 800,000 - 800,000 Miscellaneous Federal Direct 3199 - - - Total Federal Revenue 807,000$ -$ 807,000$

FEDERAL THROUGH STATE AND LOCAL:Medicaid 3202 5,360,000$ -$ 5,360,000$ Miscellaneous Federal through State 3299 - - - Total Federal Through State Revenue 5,360,000$ -$ 5,360,000$

STATE SOURCES:Florida Education Finance Program (FEFP) 3310 234,773,926$ -$ 234,773,926$ Workforce Development 3315 17,014,911 - 17,014,911 Workforce Educ Performance Incentive 3317 - - - Adults with Disabilities 3318 - - - CO&DS Withheld for Administrative Expense 3323 100,000 - 100,000 State License Tax 3343 270,000 - 270,000 District Discretionary Lottery Funds 3344 698,197 - 698,197 Class Size Reduction/Operating Funds 3355 213,576,080 - 213,576,080 School Recognition Funds 3361 10,584,702 - 10,584,702 Excellent Teaching Program 3363 - - - Voluntary Prekindergarten Program 3371 3,849,295 - 3,849,295 Other Miscellaneous State Revenue 3399 300,000 - 300,000 Total State Revenue 481,167,111$ -$ 481,167,111$

LOCAL SOURCES:District School Tax 3411 953,906,533$ -$ 953,906,533$ Payment in Lieu of Taxes 3422 50,000 - 50,000 Rent 3425 2,167,000 - 2,167,000 Interest, Including Profit On Investments 3430 950,000 - 950,000 Gifts, Grants and Bequests 3440 2,018,343 - 2,018,343 Adult General Education Course Fees 3461 600,000 - 600,000 GED Testing Fees 3467 120,000 - 120,000 Other Student Fees 3469 1,405,000 - 1,405,000 Preschool Program Fees 3471 300,000 - 300,000 School Age Child Care Fees 3473 30,040,000 - 30,040,000 Miscellaneous Local Sources 3490 21,101,165 4,172 21,105,337 Total Local Revenue 1,012,658,041$ 4,172$ 1,012,662,213$

OTHER FINANCING SOURCES:

Sale of Capital Assets 3730 -$ -$ -$

Loss Recoveries 3740 - - -

Transfers In: From Debt Service Funds 3620 - - - From Capital Projects Funds 3630 92,932,324 - 92,932,324 From Internal Service Funds 3670 - - - Total Other Financing Sources 92,932,324 - 92,932,324

FUND BALANCE, JULY 1, 2015 2800 117,132,310$ -$ 117,132,310$

TOTAL ESTIMATED REVENUES, OTHERFINANCING SOURCES, AND FUND BALANCE 1,710,056,786$ 4,172$ 1,710,060,958$

THE SCHOOL DISTRICT OF PALM BEACH COUNTY, FLORIDA

Comparison of Revenue by State Function

2015-2016 Budget AmendmentGeneral Fund

September 2015 Amendments Page 1 of 12 November 17, 2015

RevisedAccount Appropriations AppropriationsNumber (9/9/2015) Amendments (9/30/2015)

APPROPRIATIONS:

Instruction 5000 1,104,673,721$ (4,539,553)$ 1,100,134,168$

Student Personnel Services 6100 46,761,389 326,954 47,088,344

Instructional Media Services 6200 19,347,613 991,475 20,339,088

Instruction & Curriculum Development Serv. 6300 34,776,257 265,765 35,042,022

Instructional Staff Training Services 6400 9,268,177 295,912 9,564,089

Instruction Related Technology 6500 8,957,523 296 8,957,820

Board 7100 7,881,260 (504,833) 7,376,427

General Administration 7200 7,176,941 70,572 7,247,513

School Administration 7300 97,821,404 370,789 98,192,193

Facilities Acquisition & Construction 7400 519,265 237,076 756,341

Fiscal Services 7500 6,229,781 206,836 6,436,616

Food Service 7600 21,744 41,467 63,211

Central Services 7700 14,575,451 743,447 15,318,898

Student Transportation Services 7800 49,055,237 50,191 49,105,428

Operation of Plant 7900 126,938,831 882,356 127,821,188

Maintenance of Plant 8100 75,702,757 8,841 75,711,598

Administrative Technology Services 8200 8,718,182 16,667 8,734,849

Community Services 9100 41,447,249 542,838 41,990,087

Debt Service 9200 150,000 - 150,000

Other Capital Outlay 9300 - - -

Total Appropriations 1,660,022,782$ 7,098$ 1,660,029,880$

OTHER FINANCING USES:

Transfers Out: (Function 9700)

To Debt Service Funds 920 -$ -$ -$

To Capital Projects Funds 930 34,004 (2,926) 31,078

Total Other Financing Uses 34,004$ (2,926)$ 31,078$

FUND BALANCE, JUNE 30, 2016 2700 50,000,000$ -$ 50,000,000$

TOTAL APPROPRIATIONS, OTHERFINANCING USES, AND FUND BALANCE 1,710,056,786$ 4,172$ 1,710,060,958$

2015-2016 Budget AmendmentGeneral Fund

Comparison of Appropriations by State Function




FEDERAL DIRECT SOURCES:Other Federal Direct 3199 3,258,963$ -$ 3,258,963$ Total Federal Direct Revenue 3,258,963$ -$ 3,258,963$

STATE SOURCES:CO & DS Distributed 3321 -$ -$ -$ CO & DS Withheld for SBE/COBI Bonds 3322 4,529,892 - 4,529,892 Total State Revenue 4,529,892$ -$ 4,529,892$

LOCAL SOURCES:District Debt Service Taxes 3412 -$ -$ -$ Local Sales Tax 3418 - - - Tax Redemptions 3421 - - - Excess Fees 3423 - - - Rent 3425 - - - Interest, Including Profit On Investments 3430 - - - Gifts, Grants and Bequests 3440 - - - Refund - Prior Year Expenditures 3497 - - - Total Local Revenue -$ -$ -$


Sale of Bonds 3710 -$ -$ -$

Proceeds of Refunding Bonds 3715 - - -

Loans 3720 - - -

Proceeds of Certificates of Participation 3750 - - -

Proceeds Refunding Lease-Purchase 3755 - 62,970,000 62,970,000

Premium of Refunding Bonds 3792 - - -

Premium of Refunding Lease-Purchase 3794 - 8,541,320 8,541,320

Transfers In: From General Fund 3610 - - - From Capital Projects Funds 3630 155,821,708 - 155,821,708 Total Other Financing Sources 155,821,708$ 71,511,320$ 227,333,027$


TOTAL ESTIMATED REVENUES, OTHERFINANCING SOURCES, AND FUND BALANCE 258,381,491$ 71,511,320$ 329,892,811$



2015-2016 Budget AmendmentDebt Service Fund



DEBT SERVICES (Function 9200):

Redemption of Principal 710 64,860,308$ -$ 64,860,308$

Interest 720 71,335,632 - 71,335,632

Dues and Fees 730 3,206,909 400,519 3,607,427

Payments-Refunded Escrow 760 - 71,110,801 71,110,801

Miscellaneous Expenses 790 - - -

Total Appropriations 139,402,849$ 71,511,320$ 210,914,168$



To General Fund 910 -$ -$ -$

To Capital Projects Funds 930 - - -

Total Other Financing Uses -$ -$ -$


TOTAL APPROPRIATIONS, OTHERFINANCING USES, AND FUND BALANCE 258,381,491$ 71,511,320$ 329,892,810$

2015-2016 Budget AmendmentDebt Service Fund





STATE SOURCES:Misc. Federal through State 3299 -$ -$ -$ CO & DS Distributed 3321 2,355,781 - 2,355,781 Interest on Undistributed CO & DS 3325 - - - Public Education Capital Outlay (PECO) 3391 2,691,357 - 2,691,357 Charter School Capital Outlay Funding 3397 5,470,110 - 5,470,110 Other Miscellaneous State Revenue 3399 - - - Total State Revenue 10,517,248$ -$ 10,517,248$

LOCAL SOURCES:District Debt Service Taxes 3413 237,875,881$ -$ 237,875,881$ Local Sales Tax 3418 - - - Tax Redemptions 3421 - - - Interest, Including Profit On Investments 3430 750,000 - 750,000 Gifts, Grants and Bequests 3440 - - - Miscellaneous Local Sources 3490 - 30,898 30,898 Impact Fees 3496 3,972,083 - 3,972,083 Refunds of Prior Year Expenditures 3497 - - - Total Local Revenue 242,597,964$ 30,898$ 242,628,862$

OTHER FINANCING SOURCES

Sale of Bonds 3710 -$ -$ -$

State Board-Education/COBI 3711 - - -

Capital Lease Agreements 3724 21,387,296 - 21,387,296

Sale of Capital Assets 3730 - - -

Proceeds of Certificates of Participation 3750 - - -

Premium on Sale of Bonds 3791 - - -

Transfers In: From General Fund 3610 34,004 (2,926) 31,078 From Debt Service Funds 3620 - - - From Capital Projects Funds 3630 - - - Interfund (Capital Projects Only) 3650 - - - Total Other Financing Sources 21,421,300$ (2,926)$ 21,418,374$


TOTAL ESTIMATED REVENUES, OTHERFINANCING SOURCES, AND FUND BALANCE 361,615,531$ 27,972$ 361,643,503$



2015-2016 Budget AmendmentCapital Projects Fund



APPROPRIATIONS (Functions 7400/9200):

Library Books (New Libraries) 610 -$ -$ -$

Audio-Visual Materials (non-consumable) 620 - - -

Buildings and Fixed Equipment 630 46,898,821 (1,143,608) 45,755,213

Furniture, Fixtures, and Equipment 640 11,702,525 789,548 12,492,073

Motor Vehicles (including buses) 650 16,309,755 - 16,309,755

Land 660 822,855 5,984 828,839

Improvements Other Than Buildings 670 2,821,652 (134,613) 2,687,039

Remodeling and Renovations 680 31,189,341 (694,686) 30,494,655

Computer Software 690 3,063,850 61,740 3,125,590

Redemption of Principal 710 - - -

Interest 720 - - -

Dues and Fees 730 52,700 - 52,700

Total Appropriations 112,861,499$ (1,115,636)$ 111,745,864$


Discount on COPS 893 -$ -$ -$


To General Fund 910 92,932,324 - 92,932,324

To Debt Service Funds 920 155,821,708 - 155,821,708

To Capital Projects Fund 930 - - -

To Special Revenue Funds 940 - - -

Interfund (Capital Projects Only) 950 - - -

Total Other Financing Uses 248,754,032$ -$ 248,754,032$

FUND BALANCE, JUNE 30, 2016 2700 -$ 1,143,608$ 1,143,608$

TOTAL APPROPRIATIONS, OTHERFINANCING USES, AND FUND BALANCE 361,615,531$ 27,972$ 361,643,503$

2015-2016 Budget AmendmentCapital Projects Fund





FEDERAL THROUGH STATE AND LOCAL:National School Lunch Act 3260 62,922,000$ -$ 62,922,000$ U.S.D.A. Donated Foods 3265 5,358,800 - 5,358,800 Summer Food Service Program 3267 2,350,000 - 2,350,000 Fresh Fruit & Vegetable Program 3268 550,000 - 550,000 Miscellaneous Federal through State 3299 - - - Total Federal Through State Revenue 71,180,800$ -$ 71,180,800$

STATE SOURCES:School Breakfast Supplement 3337 459,000$ -$ 459,000$ School Lunch Supplement 3338 557,000 - 557,000 Other Miscellaneous State Revenue 3399 - - - Total State Revenue 1,016,000$ -$ 1,016,000$

LOCAL SOURCESInterest, Including Profit on Investment 3430 40,000$ -$ 40,000$ Food Service 3450 14,510,000 - 14,510,000 Other Miscellaneous Revenue 3490 176,000 - 176,000 Total Local Revenue 14,726,000$ -$ 14,726,000$


Transfers In: From General Fund 3610 -$ -$ -$ From Debt Service Funds 3620 - - - From Capital Projects Funds 3630 - - - Total Other Financing Sources -$ -$ -$


TOTAL ESTIMATED REVENUES, OTHERFINANCING SOURCES, AND FUND BALANCE 114,402,641$ -$ 114,402,641$



2015-2016 Budget AmendmentSpecial Revenue Fund - Food Service - Fund 410



APPROPRIATIONS

Salaries 100 21,100,000$ -$ 21,100,000$

Employee Benefits 200 12,450,000 - 12,450,000

Purchased Services 300 9,483,860 - 9,483,860

Energy Services 400 2,640,500 - 2,640,500

Materials and Supplies 500 36,746,700 - 36,746,700

Capital Outlay 600 3,128,400 - 3,128,400

Other Expenses 700 2,200,774 - 2,200,774

Capital Outlay (Function 9300) 600 - - -

Total Appropriations 87,750,234$ -$ 87,750,234$




To Debt Service Funds 920 - - -




TOTAL APPROPRIATIONS, OTHERFINANCING USES, AND FUND BALANCE 114,402,641$ -$ 114,402,641$

2015-2016 Budget AmendmentSpecial Revenue Fund - Food Service - Fund 410Comparison of Appropriations by State Function




FEDERAL DIRECT:Workforce Investment Act 3170 -$ -$ -$ Reserve Officers Training Corps (ROTC) 3191 - 7,019 7,019 Miscellaneous Federal Direct 3199 653,627 5,532,285 6,185,912 Total Federal Direct Revenue 653,627$ 5,539,304$ 6,192,931$

FEDERAL THROUGH STATE AND LOCAL:Vocational Education Acts 3201 1,759,085$ 62,753$ 1,821,838$ Medicaid 3202 - - - Workforce Investment Act 3220 - - - Individuals with Disabilities Education Act (IDEA) 3230 39,062,303 281,074 39,343,377 Elementary & Secondary Education Act, Title I 3240 55,745,602 1,277,138 57,022,740 Adult General Education 3251 - 2,373,506 2,373,506 Federal Through Local 3280 353,454 1,525,171 1,878,625 Miscellaneous Federal through State 3299 11,930,558 5,222,617 17,153,175 Total Federal Through State Revenue 108,851,002$ 10,742,259$ 119,593,262$

STATE SOURCES:Other Miscellaneous State Revenue 3399 285,000$ 13,870$ 298,870$ Total State Revenue 285,000$ 13,870$ 298,870$

LOCAL SOURCES:Interest, Including Profit On Investments 3430 -$ -$ -$ Gifts, Grants and Bequests 3440 142,056 2,170,606 2,312,662 Miscellaneous Local Sources 3495 - 2,138 2,138 Total Local Revenue 142,056$ 2,172,744$ 2,314,800$


Transfers In: From General Fund 3610 -$ -$ -$ From Debt Service Funds 3620 - - - From Capital Projects Funds 3630 - - - Total Other Financing Sources -$ -$ -$

FUND BALANCE, JULY 1, 2015 2800 84,944$ -$ 84,944$

TOTAL ESTIMATED REVENUES, OTHERFINANCING SOURCES, AND FUND BALANCE 110,016,630$ 18,468,178$ 128,484,807$



2015-2016 Budget AmendmentSpecial Revenue Fund - Other Federal Programs - Fund 420



APPROPRIATIONS:

Instruction 5000 47,565,016$ 6,646,897$ 54,211,913$

Student Personnel Services 6100 11,464,858 3,534,320 14,999,178

Instructional Media Services 6200 1,487 - 1,487

Instruction & Curriculum Development Serv. 6300 17,974,844 2,067,698 20,042,542

Instructional Staff Training Services 6400 28,404,304 2,422,551 30,826,854

Instruction Related Technology 6500 83,579 (9,776) 73,803

Board 7100 54,948 - 54,948

General Administration 7200 3,146,125 430,065 3,576,190

School Administration 7300 13,209 22,649 35,858

Facilities Acquisition & Construction 7400 - - -

Fiscal Services 7500 300 86,800 87,100

Food Service 7600 - - -

Central Services 7700 907,058 1,216,016 2,123,074

Student Transportation Services 7800 362,612 63,498 426,109

Operation of Plant 7900 14,402 9,170 23,572

Maintenance of Plant 8100 2,637 - 2,637

Administrative Technology Services 8200 - 95,620 95,620

Community Services 9100 21,251 1,882,670 1,903,922

Debt Service 9200 - - -

Other Capital Outlay 9300 - - -

Total Appropriations 110,016,630$ 18,468,178$ 128,484,807$




To Debt Service Funds 920 - - -



FUND BALANCE, JUNE 30, 2016 2700 -$ -$ -$

TOTAL APPROPRIATIONS, OTHERFINANCING USES, AND FUND BALANCE 110,016,630$ 18,468,178$ 128,484,807$

2015-2016 Budget AmendmentSpecial Revenue Fund - Other Federal Programs - Fund 420





OPERATING REVENUES:Charges for Services 3481 -$ -$ -$ Charges for Sales 3482 - - - Premium Revenue 3484 202,648,574 - 202,648,574 Other Operating revenue 3489 6,010,000 - 6,010,000 Total Operating Revenues 208,658,574$ -$ 208,658,574$

NONOPERATING REVENUES:Investment Income 3430 -$ -$ -$ Gifts, Grants, and Bequests 3440 - - - Other Miscellaneous Local Sources 3495 - - - Loss Recoveries 3740 - - -

Gain on Disposition of Assets 3780 - - - Total Nonoperating Revenues -$ -$ -$

NET POSITION, JULY 1, 2015 2880 50,333,217$ -$ 50,333,217$

TOTAL OPERATING REVENUES, NONOPERATINGREVENUES, TRANSFERS, AND NET POSITION 258,991,791$ -$ 258,991,791$



2015-2016 Budget AmendmentInternal Service Fund - Fund 700



OPERATING EXPENSES (Function 9900):

Salaries 100 1,129,193$ 3,950$ 1,133,143$

Employee Benefits 200 347,309 657 347,966

Purchased Services 300 595,427 - 595,427

Energy Services 400 - - -

Materials and Supplies 500 53,712 - 53,712

Capital Outlay 600 5,371 - 5,371

Other Expenses (including depreciation) 700 204,758,953 (4,607) 204,754,346

Total Operating Expenses 206,889,965$ -$ 206,889,965$

NON OPERATING EXPENSES (Function 9700):

Transfers Out:


Total Non Operating Expenses -$ -$ -$

NET POSITION, JUNE 30, 2016 2700 52,101,826$ -$ 52,101,826$

TOTAL OPERATING EXPENSES, NONOPERATINGEXPENSES, TRANSFERS, AND NET POSITION 258,991,791$ -$ 258,991,791$

2015-2016 Budget AmendmentInternal Service Fund - Fund 700




SCHOOL DISTRICT OF PALM BEACH COUNTY DISTRICT OF PALM BEACH COUNTY Agenda ... CO&DS Withheld for...

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