At Monday night’s West Burlington School Board meeting Superintendent David Schmitt, briefed the new board members with the school district’s fiscal facts saying that, “I just want you to get a picture of our enrollment.
The Revenue for 2014 is broken down into four categories from the largest revenue being State Sourced at $3,271,783 this is 41% of the revenue, next is defined as Other Local & Other Sources coming in at $2,680,664 being 34% of the Revenue. Coming in third is the Local Taxes worth $1,702,657 in 2014 and it makes up 22% of the Revenue. The final source of Revenue is Federal Sources of $254,269 and is 3% of the Revenue.
The Expenditures for 2014 is broken down into six categories. The largest expenditure is Salaries which was reported at $4,712,253, this makes up 63% of the of the district’s expenditure. The second largest expenditure is listed as Benefits and is reported at $1,319,361 which is 18%. Next is Purchased Services of $593,209 which is 8% of the total expenditure. Supplies takes up 6% with a cost of $430,530 and Other Expanses comes in at 4% with $315,776. Equipment is the final piece of the pie taking up 1% of the expenditures for 2014 with a cost of $90,646.
The Financial Solvency Ratio is a measure of the district’s general fund financial health and is figured by the district’s assigned and unassigned fund balance, divided by expenditures. It has steadily inclines to over 15% which is just above the recommended financial solvency ratio ratio and it coincides with the increase of open-enrolled students. Schmitt said that, “It’s how much extra money or cash we have.”
Open Enrolled Revenue for 2013 was 2,479,613 and in 2014 it was 2,756,286. For the Open Enrolled Expanse it was $162,027 in 2013 and $177,509 in 2014.
Open Enrolled-Out in 2013 was 27 students and in 2014 it was 29 students.
Open Enrolled-In students in 2013 was 413 students and 450 students in 2014, making up more than half of the entire student body. Currently, their is a 72-student cap for grades k-5.
In 2014, the district’s certified and served enrollment was 880 and the school district receives $6,331 per pupil which goes into the general fund. The general fund is the districts primary financial operations fund for salaries, benefits, textbooks, equipment, services and other expanses.
Holding steady for the last three years at about 7 students per Certified Staff.
Enrollment for 2015 will be counted and certified on October 15th and schmitt anticipates having further discussions about open enrollment at the next school board meeting.
