JFAC Approved Education Budget and Funds to WBCSD On March 5th, the Joint Finance and Accounting Commission (JFAC) approved a 5.1% increase or $66.2 million in funding for Idaho’s K-12 public schools for fiscal year 2015, which would bring state general funds for Idaho’s public schools to higher than fiscal year 2008 levels for the first time since the recession. The projected share of the $66.2 million allocated to our district is $301,708 ($66.2 x .00455753 - WBCSD ratio). Not all funds flow to the local districts, thus the portion of the $301,708 our district anticipates to receive based on our projected student enrollment and ADA; is $215,308. Of this $58,502 is to support salaries and benefits, $10,057 for safe and drug free schools and $146,748 in discretionary funds. This increase in revenues has been taken into consideration in the 2014-15 budget proposal and supplemental levy proposal. Though total funds budgeted for education are higher than the 2008 levels for the first time since the recession; the two major categories funding that our district rely on to support the general fund budget are still below the 2008 levels. These are the categories that directly impact the supplemental levy. Discretionary funding is used by school districts to pay for all general fund daily operating expenditures such as utility bills. The factor used to determine our discretionary funding in 2008 was $25,696 per unit and the factor budgeted by JFAC for the 2015 is $22,140 per unit. Based on the projected units generated by our students in 2015 our district will be funded $217,271 less than we were 2008. Salary and benefit apportionment funding is the major category used by school districts for budget building. The State reimbursed salary factors for teachers, administrative and support staff in 2008 totaled $82,139 and the salary factors for staff budgeted in 2015 total $74,245. However, school districts will see increases in funding in areas that are earmarked for specific purposes which can’t be used to pay general fund expenditures – these are the funds that may not flow to the local districts. Some of these areas are professional development ($2.7M) and the Leadership Awards portion of the Career Ladder Compensation Model ($15.8M).
Posted on: Tue, 13 May 2014 21:34:44 +0000