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1 • Prior Year Special District Tax (125,000) <br /> 2 • Miscellaneous Revenues ($ 525) <br /> 3 Net Change in all other Local Revenues $270,861 <br /> 4 <br /> 5 Continuation and Expansion Requests $5,740,667 <br /> 6 Less other local revenue increase 270,861 <br /> 7 Total Funding Request to County $5,469,806 <br /> 8 <br /> 9 2017-18 Student Enrollment Projection <br /> 10 State projection 12,239 <br /> 11 Less out-of-county tuition paid (241) <br /> 12 Plus estimated charter students 217 <br /> 13 Total County Resident Students 12,215 <br /> 14 <br /> 15 Ad Valorem Tax Increase Required to Fund Budget Request <br /> 16 Using Current Year Valuation: <br /> 17 County Ad Valorem Tax Increase= <br /> 18 $5,469,806/$999,327 = 5.5 cents <br /> 19 ($1,638,241 X 61% = $999,327) <br /> 20 <br /> 21 Per Pupil Increase: <br /> 22 Current Year Appropriation $46,388,977 + $5,469,806 = $51,878,753 <br /> 23 $51,878,753/12,215 students = $4,245.50 per pupil rate <br /> 24 $4,245.50 less current rate of $3,868 = $377.50 per pupil increase required <br /> 25 <br /> 26 Class Size Legislation <br /> 27 • Project ADVANCE is part of a two year state pilot, and as such we have a waiver from <br /> 28 this requirement <br /> 29 • Unless changed, eventually we would need to hire 40+ teacher positions <br /> 30 • Potential cost increase to the district is over $4 million <br /> 31 • Legislative corrective action is underway <br /> 32 <br /> 33 Fund Balance Allocation <br /> 34 • Assign $1,000,000 in fund balance for 2017-2018 <br /> 35 • Estimated year-end unassigned fund balance for June 30, 2017 is $6.9 million <br /> 36 • The projected 5.5% target is $4 million <br /> 37 • Unassigned F/B above the target is $2.9 million <br /> 38 • Reserve fund balance for capital projects <br /> 39 <br /> 40 Current Major Capital Projects <br /> 41 • Glenwood Elementary School has been completed <br /> 42 • 2016 Bond Projects <br /> 43 o Lincoln Center/Pre K/Phoenix <br /> 44 o Reconstruction and Renovations to CHHS <br /> 45 <br /> 46 Construction Cost Escalation <br /> 47 • 2013 Facilities Assessment construction cost estimate for 10 schools - $161 Million <br /> 48 • 5% annual increase in construction costs = 15% cost escalation through 2016 <br /> 49 • Additional cost escalation included in our Capital Investment Plan (4% annually) <br />