budget preparation calendar for fiscal year 2002-2003

Lafayette Parish School System FY 2002-2003 Budget Budget Workshop Agenda April 18, 2002

Page I. Fund Balance A. Fund Balance 1. History & FY 2001-02 Projection 1 2. Undesignated / Designated Fund Balance 2 B. General Fund Reserves—Policy DM 3 C. General Fund Compliance with Policy 4 II. Property Tax / Millage Rates A. Current Property Tax Millage Rates—Policy DFA-E 5 B. Historical Trend in Millage 6 C. Historical & Projected Property Tax Revenue & Millage Rates 7 III. Sales Tax A. Schedule of Actual/Projected Net Sales Tax Revenues 1. 1965 Sales Tax a. For FY 2001-02 (Actual/Projected) 8 b. For FY 2002-03 (Projected) 9 2. 1988 Sales Tax a. For FY 2001-02 (Actual/Projected) 10 b. For FY 2002-03 (Projected) 11 c. Tax Dedications—Comparison of FY 2001-02 to FY 2002-03 12 3. 2002 Sales Tax a. For FY 2001-02 (Actual/Projected) 13 b. For FY 2002-03 (Projected) 14 c. Projected Dedications/Usage for FY 2002-03 15

$20,325,551$22,727,711

$20,265,144$18,285,525

$15,557,992 $15,557,992

$0

$5,000,000

$10,000,000

$15,000,000

$20,000,000

$25,000,000

96-97 97-98 98-99 99-00 00-01 Projected01-02Fiscal Year

Lafayette Parish School SystemTotal Fund Balance History with 2002 Projection

Assumes that actual FY 01-02 revenues equal expenditures Revised 03/2802 budget recap 02 03 MWD

$13,847,415

$6,478,136

$16,444,472

$6,283,239

$14,333,704

$5,931,440

$11,849,652

$6,435,873

$8,275,757

$7,282,235

$8,275,757

$7,282,235

$0

$5,000,000

$10,000,000

$15,000,000

$20,000,000

$25,000,000

96-97 97-98 98-99 99-00 00-01 Projected01-02Fiscal Year

Lafayette Parish School System Fund Balance History with 2002 Projection

Undesignated Reserve/Designated

Assumes that actual FY 01-02 revenues equal expenditures revised 03/28/02 budget recap 02 03 mwd

Total Fund Balance History

File: DM GENERAL FUND RESERVES

It shall be the objective of the LPSB to establish and maintain its General Fund Reserves as follows:

1. Allocate all required accounting reservations as required by generally accepted governmental accounting principals (i.e. reserves for inventory, encumbrances, prepaid items, workers compensation, debt services, etc.)

2. Designate those funds required for possible future expenditures (i.e. insurance claims, self-

insurance fund balance, etc.)

3. Of the remaining reserves establish:

a.) A contingency fund balance of five percent (5%) of the General Fund operating budget for the current fiscal year. This fund shall be maintained for the purpose of providing funds for catastrophic deviations in revenue or expense. At the end of each fiscal year and after all ending balances have been confirmed, the Board shall review the status of the Contingency Fund Balance. If the balance does not equal the stated objective, it may take action to transfer funds from other available reserve balances to supplement the Contingency Fund Balance toward the five percent (5%) level. Prior to using this Contingency Fund Balance, management should demonstrate that it consider other budget reductions as a source of funding. Disbursement from and use of the Contingency Fund Balance must be authorized by resolution approved by at least two-thirds of the entire Board. Therefore, any initial budget which requires use of the Contingency Fund Balance or any agenda item during the year with fiscal impact which requires use of the Contingency Fund Balance will require such a two-thirds vote of the entire Board.

b.) A fiscal year ending fund balance, excluding designations, (Item 2 above) and reserves

(Item 1 above), which is approximately eight percent (8%), including the contingency fund in 3a above, of the budgeted operating expenditures for the year. This fund balance shall include the contingency fund balance in 3a above. For any year in which this fund balance is not anticipated to equal eight percent (8%) of budgeted operating expenditures, the operating budget shall include a provision to increase this fund balance toward the stipulated amount. Such provision shall be set by the Board but should be at least $500,000 (if needed) but may be greater at the discretion of the Board. This determination shall be made prior to any determinations as stipulated under 3a above.

4. Shortages in category 3a or 3b above may be met by overages in category 3a or 3b above.

Adopted: 4/5/00 Lafayette Parish Public Schools, Louisiana

FY 99/00 FY 00/01 FY 01/02Actual Actual Projection

Budgeted Operating Expenditures $142,613,228 $143,010,813 $155,457,904

Required % per Policy DCAA & DCAB 8.00% 8.00% 8.00%

Requirement per Policy DCAA & DCAB $11,409,058 $11,440,865 $12,436,632

Actual Undesignated Fund Balance $11,849,652 $8,275,757 $8,275,757

Revised: 03/27/02\\Purchasing\common\02-03 Budget Documents\Accountant's Reports\Matt's Report\[budget recap 02 03.xls]chart des

MWD

Lafayette Parish School SystemGeneral Fund Compliance with Board Policy

$0

$2,000,000

$4,000,000

$6,000,000

$8,000,000

$10,000,000

$12,000,000

$14,000,000

FY 99/00 FY 00/01 Proj. FY 01/02

Lafayette Parish School System

Required Undesignated Fund BalanceActual Undesignated Fund Balance

File: DFA-EMILLAGE RATES

GENERAL FUND _______ 10thth year______

Tax Millage Date Assessment CollectionNotes Rate Approved Year Year

Constitutional Tax 4.59 mills ------ ------ ------ 1

Special Maintenance 7.27 mills 7-18-97 2006 2007 2and Operational Tax

Special Maintenance 5.00 mills 7-21-01 2011 2012 3Improvement andOperational Tax

Operational Tax 16.70 mills 6-15-95 2004 2005 4

SINKING FUNDConsolidated School .8 mills ------ ------ ------ 5District No. 1

Notes:1. Continuous Millage provided by the State Constitution which does not require renewal.2. Approved by voters 7/19/97 for 10 years3. Approved by voters 7/21/01 for 10 years4. Approved by voters 6/15/95 for 10 years5. Millage set annually in an amount necessary to provide funds to service outstanding bonds.

Adopted: 9/20/00Revised: 12/05/01

Lafayette Parish Public Schools, Louisiana

GENERAL FUND _______ 10thth year______

Tax Millage Date Assessment CollectionNotes Rate Approved Year Year

Constitutional Tax 4.59 mills ------ ------ ------ 1

Special Maintenance 7.27 mills 7-18-97 2006 2007 2and Operational Tax

Special Maintenance 5.00 mills 7-21-01 2011 2012 3Improvement andOperational Tax

Operational Tax 16.70 mills 6-15-95 2004 2005 4

SINKING FUNDConsolidated School .8 mills ------ ------ ------ 5District No. 1

Notes:1. Continuous Millage provided by the State Constitution which does not require renewal.2. Approved by voters 7/19/97 for 10 years3. Approved by voters 7/21/01 for 10 years4. Approved by voters 6/15/95 for 10 years5. Millage set annually in an amount necessary to provide funds to service outstanding bonds.

Adopted: 9/20/00Revised: 12/05/01

Lafayette Parish Public Schools, Louisiana

LAFAYETTE PARISH SCHOOL BOARDHISTORICAL & PROJECTED PROPERTY TAX REVENUES AND MILLAGE RATES

Actual Actual Actual Actual Budget Projected BudgetFY 97-98 FY 98-99 FY99-00 FY 00-01 FY 01-02* FY 02-03**

Total Assessed $736,912,486 $783,185,323 $824,767,112 $879,927,716 $1,016,794,854 $1,067,634,597

Less: Homestead Exemption (216,680,086) (223,952,456) (232,533,701) ($240,542,846) ($269,516,398) ($282,992,218)

Net Taxable $520,232,400 $559,232,867 $592,233,411 $639,384,870 $747,278,456 $784,642,379

Millages: School (Constitutional) 4.59 4.59 4.59 4.59 4.59 4.59

Special School Tax 7.27 7.27 7.27 7.27 7.27 7.27

Special School Impr. ( M & O)Tax (1992 - 2002) 5.00 5.00 5.00 5.00 5.00 5.00

School 1985 Operational (1995 - 2005) 16.70 16.70 16.70 16.70 16.70 16.70

Total millages 33.56 33.56 33.56 33.56 33.56 33.56

Gross Property Taxes Due $17,458,999 $18,767,855 $19,875,353 $21,457,756 $25,078,665 $26,332,598

Less: Pension at 3.538% (615,841) (638,818) (703,190) (759,175) (887,283) (931,647)

Net Property Taxes Due $16,843,159 $18,129,037 $19,172,163 $20,698,581 $24,191,382 $25,400,951

Less: Allowance for Delinquencies/Recoveries/ (16,571) (226,764) 174,531 (260,294) (225,000) (225,000)

Interest & Penalties

Actual/Expected Propety Tax Revenue $16,826,588 $17,902,273 $19,346,694 $20,438,287 $23,966,382 $25,175,951

*Based on 11/01 Grand Recapitulation of the Assessment Roll**Based on a preliminary estimate of five percent (5%) increase in January 2002 as provided by Mr. Conrad Comeaux, Assessor

General TotalFiscal Operating Obligation School BoardYear Millage Millage Millage

1974/75 17.00 15.50 32.50 1975/76 17.00 15.50 32.50 1976/77 17.00 12.50 29.50 1977/78 14.45 8.50 22.95 1978/79 9.11 5.35 14.46 1979/80 9.29 5.35 14.64 1980/81 9.35 5.35 14.70 1981/82 12.88 1.82 14.70 1982/83 8.46 1.82 10.28 1983/84 8.49 1.82 10.31 1984/85 9.31 1.00 10.31 1985/86 19.31 1.00 20.31 1986/87 25.77 3.20 28.97 1987/88 26.50 3.20 29.70 1988/89 33.15 4.00 37.15 1989/90 28.56 4.00 32.56 1990/91 33.15 4.00 37.15 1991/92 33.15 4.00 37.15 1992/93 31.15 3.25 34.40 1993/94 31.15 2.93 34.08 1994/95 33.56 2.89 36.45 1995/96 33.56 2.60 36.16 1996/97 33.56 2.22 35.78 1997/98 33.56 2.10 35.66 1998/99 33.56 1.60 35.16 1999/00 33.56 0.90 34.46 2000/01 33.56 0.80 34.36 2001/02 33.56 0.80 34.36 2002/03 33.56 0.78 34.34

LAFAYETTE PARISH SCHOOL BOARD

HISTORICAL TREND IN MILLAGE

LAFAYETTE PARISH SCHOOL SYSTEM - SALES TAX DIVISIONSCHEDULE OF ACTUAL / PROJECTED NET SALES TAX REVENUES

1965 (1%) SALES TAXYEAR ENDED JUNE 30, 2002

DISTRIBUTIONMinorCapitalBond General Net Revenues

RepairsImprovementSinking Fund AvailableCollection Month

$16,667$47,917$768,348$2,330,850actual$3,163,782Jul 0116,66747,917768,3482,258,714actual3,091,646Aug16,66747,917768,3482,121,723actual2,954,655Sep16,66747,917768,3482,112,403actual2,945,335Oct16,66747,917768,3482,194,076actual3,027,008Nov16,66747,917768,3482,065,155actual2,898,087Dec16,66747,917768,3483,111,622actual3,944,554Jan 0216,66747,917876,4371,801,143actual2,742,164Feb16,66747,917796,3151,850,797projected2,711,696Mar16,66747,917796,3152,313,283projected3,174,182Apr16,66747,917796,3152,104,254projected2,965,153May16,66347,913796,3152,327,263projected3,188,154Jun 02

$200,000$575,000$9,440,133$26,591,282$36,806,415TOTAL

$200,000$575,000$9,440,133$26,898,491$37,113,624BUDGET REVISION #2

$0$0$0-$307,209-$307,209VARIANCE

NOTE: For forecast purposes, actual net revenues are used for the months already collected (Jul 01 thru Feb 02)and projected net revenue for the remaining months in the fiscal year is estimated to be equal to 2% over theactual net revenue for the same month in the prior year.

LAFAYETTE PARISH SCHOOL SYSTEM - SALES TAX DIVISIONSCHEDULE OF PROJECTED NET SALES TAX REVENUES

1965 (1%) SALES TAXYEAR ENDED JUNE 30, 2003

ProjectedProjected / ActualNet RevenueNet Revenue

DifferenceFYE 6/ 30/ 03FYE 6/ 30/ 02Collection Month:

$47,457$3,211,239$3,163,782Jul46,3753,138,0213,091,646Aug44,3202,998,9752,954,655Sep44,1802,989,5152,945,335Oct45,4053,072,4133,027,008Nov43,4712,941,5582,898,087Dec59,1684,003,7223,944,554Jan41,1322,783,2962,742,164Feb40,6752,752,3712,711,696Mar47,6133,221,7953,174,182Apr44,4773,009,6302,965,153May47,8223,235,9763,188,154Jun

$552,096$37,358,512$36,806,416TOTAL

Minor RepairsCapital Imp.Bond SinkingGeneral FundDistribution of Net Revenue:

$418,259$575,000$9,556,639$26,808,614$37,358,512TOTAL

NOTE: The projected net revenues for fiscal year ended June 30, 2003 are estimated to be 1.5% over the netrevenues for the prior year.

estimated to be equal to 2% over the actual net revenue for the same month in the prior year.(Jul 01 thru Feb 02)and projected net revenue for the remaining months in the fiscal year isNOTE: For forecast purposes, actual net revenues are used for the months already collected


1988 (½%) SALES TAXYEAR ENDED JUNE 30, 2002

Net RevenueCollection Month:

actual$1,429,571Jul 01actual1,385,279Augactual1,313,305Sepactual1,317,442Octactual1,346,611Novactual1,320,608Decactual1,743,821Jan 02actual1,240,109Feb

projected1,214,684Marprojected1,426,280Aprprojected1,319,831Mayprojected1,428,038Jun

$16,485,579TOTAL

$16,815,060BUDGET REVISION #2

-$329,481VARIANCE


1988 (1/2%) SALES TAXYEAR ENDED JUNE 30, 2003



$21,444$1,451,015$1,429,571Jul20,7791,406,0581,385,279Aug19,7001,333,0051,313,305Sep19,7621,337,2041,317,442Oct20,1991,366,8101,346,611Nov19,8091,340,4171,320,608Dec26,1571,769,9781,743,821Jan18,6021,258,7111,240,109Feb18,2201,232,9041,214,684Mar21,3941,447,6741,426,280Apr19,7971,339,6281,319,831May21,4211,449,4591,428,038Jun

$247,284$16,732,863$16,485,579TOTAL

Note: The projected net revenues for fiscal year ended June 30, 2003 are estimated to be 1.5% over thenet revenues for the prior fiscal year.

LAFAYETTE PARISH SCHOOL SYSTEM1988 1/2 Cent Sales Tax Budget

Comparison of Draft Budget 2002 - 2003 to Projected 2001 - 2002Projected Draft

DESCRIPTION Actual BUDGET2001 - 2002 2002 - 2003

REVENUESSales Tax Receipts 16,485,579 16,732,863 Potential Carry forward -

TOTAL PROJECTED REVENUE 16,485,579$ 16,732,863$

DISTRIBUTION PER PRIORITIES

Priority: #1 5% Salary Restoration: 4,984,500 5,084,190$

LTRS 597,731 609,686 SERS - 33,733

Total Priority #1 5,582,231$ 5,727,609$

#2 Materials of Instruction Restoration: 192,520 192,520$

Elementary Counselor Restoration (10) 320,169 320,169$ LTRS 41,942 41,942

Drop-Out Prevention Restoration 90,000 90,000

Total Priority #2: 644,631$ 644,631$

#3 Asbestos Removal until Complete -$ -$

#4 Active/Retired Employee Only Health Premiums 7,149,011$ 8,321,503$

#5 Enhancement Programs:

Elementary Physical Ed. Restoration 1,221,196 1,221,196$ LTRS on Elementary P.E. 159,977 159,977

Enhancements & Drop-Out Prevention Expansion: Behavior Clinic 760,000 657,947 Student Remediation 120,000 -

Teacher In-service 742,000 -

Total Priority #5: 3,003,173$ 2,039,120$

#6 Proceeds in excess of above items:

Textbooks & Materials of Instruction 106,533$ -$

TOTAL PROJECTED EXPENDITURES 16,485,579$ 16,732,863$

Projected Excess To Be Carried Forward -$ 0$

\\Purchasing\common\02-03 Budget Documents\Accountant's Reports\Matt's Report\[88HLFCET03.xls]budget compRevised 04/10/02 MWD

projected1988 net revenue.projectednet revenue for the remaining months in the fiscal year is estimated to be ninety nine percent of theNOTE: For forecast purposes, actual net revenue is used for the month already collected (Feb 02) and


2002 (½%) SALES TAXYEAR ENDED JUNE 30, 2002

Net RevenueCollection Month:

actual0Jul 01actual0Augactual0Sepactual0Octactual0Novactual0Decactual0Jan 02actual$1,181,919Feb

projected1,202,537Marprojected1,412,017Aprprojected1,306,633Mayprojected1,413,757Jun 02

$6,516,864TOTAL

$6,677,600BUDGET REVISION #2

-$160,736VARIANCE


2002 (1/2%) SALES TAXYEAR ENDED JUNE 30, 2003



N/ A$1,436,504$0Jul N/ A1,391,9980Aug N/ A1,319,6750Sep N/ A1,323,8320Oct N/ A1,353,1420Nov N/ A1,327,0130Dec N/ A1,752,2790Jan

$64,2051,246,1241,181,919Feb18,0381,220,5751,202,537Mar21,1801,433,1971,412,017Apr19,5991,326,2321,306,633May21,2071,434,9641,413,757Jun

N/A$16,565,534$6,516,863TOTAL

Note: The projected net revenues for fiscal year ended June 30, 2003 are estimated to be ninety ninepercent of the 1988 tax.

Lafayette Parish School SystemGeneral Fund Budget - 2002 Dedicated Sales Tax

FY 2002-2003

Revenue 16,565,534$

Expenditures

Teacher Raises (11.3%) 9,934,500$

Classroom Teacher Salaries: Lower Class Size Salaries ?

Extra Instruction Salaries ? Incentive Compensation for Teaching in High Poverty Schools ?

Professional Development for Teachers ? Classroom Salaries for Targeted Instructional Counseling ?

Reserve ?

Total Expenditures: 16,565,534$

Dedicated 2002 Tax-Sheet1/jbs-jag/Rev. 4.11.02