Huron Valley Schools Fiscal Facts V

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Huron Valley SchoolsFiscal Facts V

• PowerPoint Presentation
• Fall 2004

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General Fund Revenues by Source
Fiscal Facts V, page 32
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Foundation Allowance
(
1) Amount was reduced by 53 in 02/03 due to
States budget concern, a reduction of 548,000
to Huron Valley Schools (2) Amount was reduced by
74 in 03/04 due to States budget concern, a
reduction of 791,000 to Huron Valley Schools
(3) Preliminary
Fiscal Facts V, page 12
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Sources of State Local Revenues
Fiscal Facts V, page 5
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Changes in Tax Policy

• Income tax policy changes enacted from 1994 to
  2002 resulted in a 155 million loss of revenue
  for the School Aid Fund for Fiscal Year 2002.
  
• Sales and use tax policy changes from 1994 to
  2002 resulted in an 85.7 million reduction in
  SAF revenues for Fiscal Year 2002.
  
• Changes in tax policies for property taxes from
  1994 to 2002 resulted in a reduction of 145
  million in reduced SAF revenues for 2002.

Fiscal Facts V, page 7
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Changes in Tax Policy (continued)
Miscellaneous tax policies (Renaissance Zones,
Brownfields and other changes targeted at
economic development) resulted in a reduction of
SAF revenue of 163 million. (That is after
netting out reimbursements paid for certain
Renaissance Zone exemptions.) The total impact
of the aforementioned tax policy changes
resulted in 549 million less for 2002 than would
have otherwise been available.
Source MSBO Email What is Happening in Lansing
October 30, 2003
Fiscal Facts V, page 7
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States General Fund Contributions since 1993/94
Fiscal Facts V, page 8
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One-Time Revenue Sources
Fiscal Facts V, page 9
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Oakland County School Districts Ranking by
Foundation Allowance
Fiscal Facts V, page 33
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Impact of Differences in Foundation Allowance
Fiscal Facts V, page 34
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Expenditures
Fiscal Facts V, page 17
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Huron Valley Schools Budget Cuts1999/2000
2004/05
Fiscal Facts V, page 18
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Huron Valley Schools Budget Cuts

• Examples of HVS budget cuts
• ___ management positions between 1999/00 and
  2004/05
  
• Elimination of elementary and special education
  para-educators
  
• Reduction in custodial services
• Initiation of pay-to-participate at middle school
  and high school levels
  
• Increased lunch prices
• NEED TO COMPLETE

Fiscal Facts V, page 18
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Effectively Positioning HVS for the State
Economic Downturn

• Educated staff and community on Proposal A
• Supported Intermediate School District special
  education millage resulting in over 2.6 million
  for Huron Valley
  
• Eliminated need to borrow saved interest expense
  of approximately 30,000 each year for 2002/03,
  2003/04 and 2004/05
  
• Reduced budget 4 of the last 6 years, totaling
  approximately 11 million
  
• Expanded health care options at reduced cost to
  district
  
• Worked in consortiums and with other groups for
  various purchases
  
• Natural gas
• Electricity
• Paper
• Financial software

Fiscal Facts V, page 21
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Safeguarding our Financial Future

• Lead efforts for community-wide partnership in
  lobbying the State for full funding of K-12
  programs
  
• Initiate programs and services that draw new
  students to the district
  
• Develop health care/benefit options for staff
• Maintain adequate stabilization fund balance
• Develop program/service reduction contingencies
• Implement budget process which includes gathering
  input from stakeholders

Fiscal Facts V, page 23
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Protecting Teaching Learning
NEED TO UPDATE
Fiscal Facts V, page 25
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What Can You Do?

• Volunteer as a member of the Huron Valley Schools
  Financial Task Force
  
• Write letters to your legislators indicating
  support of full funding for K-12 education
  
• Talk to your friends and neighbors about the
  crisis in the States K-12 funding and encourage
  them to get involved

Fiscal Facts V, page 28