SCHOOL FINANCE ESSENTIALS WASDA NEW ADMINISTRATORS WORKSHOP Deb Brown & Erin Fath School Finance...
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SCHOOL FINANCE ESSENTIALS
WASDA NEW ADMINISTRATORS WORKSHOP
Deb Brown & Erin FathSchool Finance Team – DPI
November 13, 2012
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Agenda – today we will review:Equalization Aid/General Aid
Revenue Limits
Explaining the Tax Levy
Referenda
Community Service Fund
WUFAR
Getting Started on Your Budget
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Equalization AidReview of Underlying Principles of Equalization AidDiscuss Aid Adjustments, including “Special Adjustment” (aka “Hold Harmless”) Aid
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Why do you need to know how to calculate aid when DPI calculates it
for you?
Because you will be asked by your board members, constituents and the media.
So you can figure out why your aid has changed AND explain why.
Because you may want to do estimates and run “what if” scenarios …
Equalization Aid Review
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State “shares” in district costAid is based on a district’s ability to pay, as
measured by its property wealth per memberThe formula operates under the principle of
equal tax rate for equal per pupil expenditures
Basic premise: The more property wealth per member a
district has, the lower the proportion of shared costs that will be aided by the state through
the equalization aid formula.
Equalization Aid Review
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62011-2012 data (“May 2012” values, based on assessments as of January 1, 2011, DOR)
Property Value per Member
0
10
20
30
40
50
60
70
80
90
100
Equalized Property Values per Member(424 Districts)
District Equalized Value per Member
Nu
mb
er
of
Dis
tric
ts
The local Property Tax is one of the primary source of K-12 funding and property values vary greatly across the state:
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Property Value per Member
200,000 300,000 400,000 500,000 750,000 1,000,000 2,000,000 3,000,0000
5,000
10,000
15,000
20,000
25,000
30,000
Resources ($) from 9 Mills Applied to Tax Base
District Property Value per Member(example: $1,000,000 x .009 = $9,000)
Reso
urc
es
Because property values vary so greatly across the state, the resources districts can raise from just their tax base also vary:
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Property Value Per Member
200,000 300,000 400,000 500,000 750,000 1,000,000 2,000,000 3,000,000
Property Value per Member
Districts with less property value per member are aided at a higher proportion than wealthier districts.
Blue = State Portion
(Equalization Aid)
Red: Local Portion (Property Tax)
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Compute equalization aid
District Value Per Member
State Guaranteed Value Per Member
Compare, then
How Does the State Share in Costs?
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District Factors- shared cost - equalized property value- membership
State Factors- cost ceilings- guaranteed valuations per member- total amount of funding available for distribution
What determines where a district is in the formula?
Equalization Aid Review
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DISTRICT FACTORS1. Pupils (“Membership”)2. Costs (“Shared Cost”)3. “Wealth” (Property Tax Base)
* * *All Prior-Year Data
(2011-12 data is used for 2012-13 aid.)
* * *This is a cost-reimbursement formula.
Equalization Aid Review
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F.T.E. = full-time equivalent2 halftime (.50) K students = 1 F.T.E.
Summer School = 48,600 minutes = 1 F.T.E.
Average of September 3rd Friday F.T.E.
January 2nd Friday F.T.E.
plus (+) Summer School F.T.E.
(2012-13 aid uses September 2011, January 2012, and Summer 2011 numbers – summer starts the
school year for aid / revenue limit purposes)
DISTRICT FACTOR #1: Pupils
Equalization Aid Review
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Total General Fund (Fund 10) Expenditures
plus (+)
Total Debt Service Funds (Funds 38 & 39) Expenditures
minus (-)
all local misc. revenue, grant revenue,and categorical aid.
equals (=)
Shared Cost (the costs the state shares in)
DISTRICT FACTOR #2: Shared Costs
Equalization Aid Review
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Property Tax base is used to determine wealth and ability to
support district expenditures
Uses Equalized Valuation (Fair Market Value)NOT Assessed Value
Values provided by WI Department of Revenue
DISTRICT FACTOR #3: Wealth
Equalization Aid Review
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Measured as Equalized Value per Member
(Total Equalized Value ÷ Membership)
$400,000,000 ÷ 800 = 500,000/member
$400,000,000 ÷ 1,000 = 400,000/member
DISTRICT FACTOR #3: Wealth
Equalization Aid as a proportion of shared costs will be higher for the second district.
Equalization Aid Review
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Equalization Aid is calculated in three parts – Primary Aid, Secondary Aid and Tertiary Aid. The lines separating the levels are the “cost ceilings”:
PRIMARY Cost Ceiling = $1,000. The first $1,000 of shared cost per pupil are aided in the Primary level. Set in statute.
SECONDARY Cost Ceiling = 90% of the state-wide shared costs average. For 2012-13, it is $9,005 (Oct 15th Aid Cert). Costs between $1,000 and the Secondary Cost Ceiling are aided in the Secondary level.
Shared costs above the Secondary Cost Ceiling are aided in the Tertiary level.
STATE FACTOR #1: “Cost Ceilings”
Equalization Aid Review
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STATE FACTOR #1: “Cost Ceilings”
Equalization Aid Review
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0%10%20%30%40%50%60%70%80%90%
100%
Shared Costs per Member = $10,005 (statewide average)
Tertiary
Secondary
Primary
$1,000 (primary costs)
$8,005 (secondary costs)
$1,000 (tertiary costs)
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STATE FACTOR #1: “Cost Ceilings”
Equalization Aid Review
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$7,653 $20,598 $10,230
Min Median Max
Primary 1000 1000 1000
Secondary 8005 8005 8005
Tertiary 0 1225 11593
5%15%25%35%45%55%65%75%85%95%
% o
f C
osts
at
Each
Level
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Equalization Aid is calculated in three parts – Primary Aid, Secondary Aid and Tertiary Aid. Within each level, the share of state vs. local costs is based on the district’s wealth compared to state determined levels:
PRIMARY Guaranteed Value = $1,930,000. This is written in statute.
SECONDARY Guaranteed Value is a floating number calculated by DPI to expend the full appropriation. For 2012-13: $1,105,090 (Oct 15th Aid Cert)
TERTIARY Guaranteed Value = the state-wide average property value per member. For 2012-13: $555,356 (Oct 15th Aid Cert)
STATE FACTOR #2: “Guaranteed Values”
Equalization Aid Review
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District Wealth is then compared to the Guaranteed Values. This determines the level of support that will come from the state.Fairly Normal School District:
$500,000 Property Value/Member $10,000 Shared Cost/Member
Equalization Aid ReviewSTATE FACTOR #2: “Guaranteed Values”
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Equalization Aid ReviewSTATE FACTOR #2: “Guaranteed Values”Fairly Normal School District:
$500,000 Property Value/Member$10,000 Shared Cost/Member
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Prop Value Guaranteed Value
Local Share
State Share
Shared Cost State Aid / Member
Primary $500,000 $1,930,000 25.91% 74.09% $1,000 $740.93
Secondary $500,000 $1,105,090 45.25% 54.75% $8,005 $4,383.12
Tertiary $500,000 $555,356 90.03% 9.97% $995 $99.18
TOTAL 52.23% $10,000 $5,223.23
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What happens when a district’s value/member exceeds the
guaranteed value per member?
NEGATIVE AID166 districts are negatively aided at the
tertiary level because their property value/member is greater than the tertiary guarantee. Of these districts:41 Districts received just Primary Aid; and 20 districts receive no Equalization Aid (i.e., do
not qualify for even Primary Aid). [All but 2 qualify for Special Adjustment Aid – more in later slide].
Equalization Aid Review
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Equalization Aid Review
Fairly Normal School District: $750,000 Property Value/Member$10,000 Shared Cost/Member
NEGATIVE AID
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Prop Value Guaranteed Value
Local Share
State Share
Shared Cost State Aid / Member
Primary $750,000 $1,930,000 38.86% 61.14% $1,000 $611.40
Secondary $750,000 $1,105,090 67.87% 32.13% $8,005 $2,572.18
Tertiary $750,000 $555,356 135.05% -35.05% $995 ($348.73)
TOTAL 28.35% $10,000 $2,834.85
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Equalization Aid Review
Fairly Normal School District: $1,250,000 Property Value/Member$10,000 Shared Cost/Member
NEGATIVE AID – Primary Aid Guarantee
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Prop Value Guaranteed Value
Local Share
State Share
Shared Cost State Aid / Member
Primary $1,250,000 $1,930,000 64.77% 35.23% $1,000 $352.33
Secondary $1,250,000 $1,105,090 113.11% -13.11% $8,005 ($1,049.69)
Tertiary $1,250,000 $555,356 225.08% -125.08% $995 ($1,244.55)
TOTAL 3.52% $10,000 $352.33
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Equalization Aid Review
Fairly Normal School District: $2,000,000 Property Value/Member$10,000 Shared Cost/Member
NEGATIVE AID – No Equalization Aid
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Prop Value Guaranteed Value
Local Share
State Share
Shared Cost State Aid / Member
Primary $2,000,000 $1,930,000 103.63% -3.63% $1,000 ($36.27)
Secondary $2,000,000 $1,105,090 180.98% -80.98% $8,005 ($6,482.51)
Tertiary $2,000,000 $555,356 360.13% -260.13% $995 ($2,588.29)
TOTAL 0.00% $10,000 $0.00
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It is important to know where your district is in the formula to understand how the formula impacts your district, vis-à-vis changes in shared costs.Negative Tertiary districts that
increase shared cost see a decrease in state aid
Positive Tertiary districts that increase shared cost see an increase in state aid
NEGATIVE AID
Equalization Aid Review
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Simply put: the amount of dollars appropriated by the State Legislature and approved by the Governor for use as general aids to schools.
STATE FACTOR #3: Appropriation
Equalization Aid Review
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General Aid Appropriation Over Time
Aid Year General Aid(Billions)
% Change from Prior Year
2000-01 $3.932 2001-02 $4.052 3.0%2002-03 $4.201 3.7%2003-04 $4.273 1.7%2004-05 $4.318 1.0%2005-06 $4.614 6.9%2006-07 $4.723 2.4%2007-08 $4.723 0.0%2008-09 $4.800 1.6%2009-10 $4.653 -3.1%2010-11 $4.653 0.0%2011-12 $4.262 -8.4%2012-13 $4.294 0.7%
Equalization Aid
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General School Aids
*Aid types are not mutually exclusive, so numbers will not add to the 424 total districts in Wisconsin. In the October 15th Aid Certification: 341 districts received Equalization Aid but no Special Adjustment Aid; 18 districts received Special Adjustment Aid but no Equalization Aid; and 63 districts received both. All districts that receive Inter- and Intra-District Integration Aid also received Equalization Aid. Two districts received no general aid at all.
All four General Aid types are used for the Revenue Limit computation (though most districts receive only Equalization Aid)
# of Districts Receiv-ing Aid*
12-13 Aid Oct 15th Certification](Prior to Choice/Charter deductions)
% of General Aid
Appropriation
Equalization Aid 404 $4,193,190,938 97.7%
Special Adjustment Aid 81 $31,656,958 0.7%
Inter-District Integration Aid 23 $24,965,576 0.6%
Intra-District Integration Aid 4 $43,838,763 1.0%
Total General Aid 422 $4,293,652,236 100.0%
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Sometimes called “hold harmless aid”
Part of the General Aid Allocation
Equal to 85% of the gross general aid (equalization + special adjustment + Inter/Intra District Integration Aids) for which the district was eligible in the previous year*
Acts as a parachute for districts with declining aid (often result of rapidly declining enrollment)
Very property wealthy districts may be “out of the aid formula” but continue to receive Special Adjustment Aid for years.
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Special Adjustment Aid
*Less any prior year Revenue Limit Penalty (because that amount was deducted from the district’s prior year general aid payment).
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Adjustments to General Aid
Reductions/adjustments to general aid eligibility:1. Independent (“2r”) Charter Schools: cost is spread
over all districts via an equal % reduction to gross general aid (equalization/special adjust/inter/intra aids)
October 15th aid certification for 2012-13 aid: -1.394%
2. Prior Year (“October to June”) adjustment: the difference in general aid amounts calculated between the October 15th aid certification and the final aid run of the prior year (+ or – value)
3. Parental Choice Program: reduction in aid to partially offset the cost of the program – affects Milwaukee and Racine only
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Knowing where your district is in the formula will help you better explain how changes in local finances might affect
your state aid.
What if we
under-
spend our
budget?
How does
that affect
our aid?
If we go to referendum, how will our aid
change?
Equalization Aid Review
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1. One pot of money is split over 424 school districts based on district values, membership, and expenditures. Changes in individual district data affect every other district’s aid.
2. Aid Membership = average of September + January FTE, plus 100% of Summer FTE. Different from Revenue Limit Membership.
3. Depending on district value-per member, some districts increase their aid by increasing expenses, while others decrease their aid by increasing expenses. It’s important to know where your district is in the formula (Negative Aid vs. Positive Aid).
4. There is a hold harmless provision called Special Adjustment Aid to ensure that districts receive at least 85% of the general aid awarded the previous year.
5. Be aware of what is happening to your district over time.
Equalization Aid Takeaways
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Resources on the DPI Websitehttp://sfs.dpi.wi.gov/sfs_aid_worksheetsOctober 15, 2012-13 General Aid Worksheets
http://sfs.dpi.wi.gov/sfs_buddev_eq“Ten Year Longitudinal Analysis of General and
Equalization Aid Formula Components ”View what’s happening to your district over time
“October 15, 2012-13 Equalization Aid Computation – Percentage Method – Algebraic Format”
Computed Aid at each cost level
http://sfs.dpi.wi.gov/View Webcast on the General Aids Computation
Choose “Webcast Presentations” under “General Information”(School Financial Services Team)
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