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FY 24 Budget Presentation

September 11, 2023

Regular Board of Education Meeting

Dr. Loofe

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2023-2024 Valuation

FY 23 FY 24 INCREASE % CHANGE

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State Aid History

2016-17

$9,453,346.68

($1,227,132.27)

2017-18

$7,897,369.00

($1,555,977.68)

2018-19

$6,694,300.00

($1,203,069.00)

2019-20

$6,882,243.00

$187,943.00

2020-21

$8,045,293.00

$1,163,050.00

2021-22

$8,439,117.00

$393,824.00

2022-23

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$10,092,488.00

$1,653,371.00

2023-24

$10,034,566.00

($57,922.00)

Year

Amount

Difference

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FY 24 Budget: Income

FY 23 FY 24 % Change

SPED Reimbursement

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Certified / Negotiations

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Staffing Expenses: (increases annually by law)

84.17% of budget towards salary and benefits for our 953 employees. The remaining 15.83 % is used for all other functional expenses.

      • Classified: 23% (Bus Drivers, Food Services, Para Pro)
      • Classified Exempt: 5% (Social Workers, RN’s, Facilities)
      • Teachers: 67% (LB 397 (2011) / Industrial Relations Act says between 98% - 102% of the array. Comparable schools = are not twice as large or half as small = Array Schools)
      • Administration: 5% (Principals & Central Office)

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LB 243

General and SBF total

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Used for LB 727 Calculation

$47,076,806

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FY 24 TAXES / LEVIES

3.53 cent reduction in levy from 22-23

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Anticipated Use of Funds

  1. Increases in salary and benefits for all employees (84.17% of Budget)
  2. Increased Transportation Expenses / Fuel costs, Pay to ride eliminated, vehicle replacement, etc
  3. Increases to General, Special Building and Depreciation Funds to help with ongoing construction projects. See below
  4. Increased Construction Costs: Windy Hills, Park, Glenwood and SMS will have projects this year
  5. Safety Measures: Handheld radios, Central Elem. secured entrance, doors and locking mechanisms
  6. 24-25 State Aid will reduce significantly
  7. EHA rates continue to increase annually at a rate greater than the cost of living
  8. Substitutes (Long Term and Permanent ) rates, have risen significantly and will continue to do so
  9. Increased number of English Language and Special Education students in KPS. These students cost more to educate!
  10. Will no longer have ESSER $ to rely on to support curriculum purchases
  11. Inflationary increases on all standard purchases (food, electricity, water, gasoline, curricular resources)
  12. ALICAP premium increased by 20% (from 680K to 830K)
  13. Begin saving in Depreciation for HS Field turf replacement, HMS turf replacement and eventually SMS turf replacement
  14. Annual one-to-one technology purchases for replacement cycles with student laptops

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CLOSING

  1. 23-24 Compensation increase: 5.21%
  2. 23-24 SPED Funding Increase: Gov. Plan $3,425,812
  3. 23-24 Anticipated TEEOSA State Aid: $10,034,566
    1. Will show a decrease in TEEOSA in 24-25 (more resources)
  4. 23-24 Valuation (9.51% increase) $4,687,127,529
  5. 23-24 General Fund Levy: $.9828 / 1.017
  6. 23-24 Building Fund Levy: $.0216 / .008
  7. 23-24 2013 Bond Levy: 2037 $.0913 / .1002
  8. 23-24 2009 Bond Levy: 2037 $.0673 / .0733
  9. 23-24 2022 QCPUF Levy: 2033 $.03 / .03
  10. 23-24 Total Levy: $1.1930 / $1.228
  11. % Decrease in Total Levy compared to previous year -2.88%
  12. 23-24 Property Tax Authority: Board Vote Required (LB 243) $45,545,008
  13. Authority with BoE approval to go to $48,715,885 / Requesting $47,076,806 / Unused Additional Authority / ($1,639,079).
  14. 7th lowest spending school district in the state per formula student

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