DEPARTMENT: Pre-K 4 SA
DEPARTMENT HEAD: Sarah Baray, Ph.D.
COUNCIL DISTRICTS IMPACTED: City Wide
SUBJECT:
Pre-K 4 SA FY 2018 Budget
SUMMARY:
During the May 10, 2017 "B" Session, staff will present City Pre-K 4 SA FY 2018 Budget adopted by the Pre-K 4 SA Board of Directors on April 18, 2017. The Council is scheduled to consider approving the FY 2018 Pre-K 4 SA Budget on May 11, 2017 as required by the Pre-K 4 SA bylaws.
BACKGROUND INFORMATION:
City staff will provide City Council with an overview of C Pre-K 4 SA program's Board of Directors Adopted FY 2018 Budget. The Board of Directors bylaws, approved by City Council, require that City Council approve the program's annual Budget on or before July 1 of each year. As stated in the bylaws, an Annual Budget is required to be adopted by the Board by May 1 each year and approved by City Council prior to the start of the new program year on July 1. Council consideration of the Board of Director's Adopted FY 2018 Budget is scheduled for the Council "A" session on May 11, 2017.
ISSUE:
Below is an overview of the Board of Director's Adopted Operating Budget for FY 2018 to include major program areas.
|
Operating Expenses |
Adopted Budget FY 2018 |
|
Pre-K 4 SA Education Center Services |
$ 25,415,717 |
|
Facilities Leases & Maintenance |
$ 6,123,605 |
|
Competitive Grants |
$ 4,954,719 |
|
Professional Learning |
$ 2,250,433 |
|
Administration |
$ 1,606,285 |
|
Public Relations/Marketing |
$ 952,994 |
|
Transportation Services |
$ 869,554 |
|
Enrollment/Attendance Services |
$ 750,065 |
|
Program Assessment |
$ 313,111 |
|
Sales Tax Collection Fee |
$ 704,043 |
|
Debt Service Payments |
$ 4,333,810 |
|
Total Budget |
$ 48,274,336 |
|
RevenuesAdopted Budget FY 2018 |
|
|
Dedicated Sales Tax |
$ 35,202,167 |
|
Planned Use of Fund Balance |
$ 6,519,779 |
|
State/Local Match |
$ 4,464,000 |
|
USDA (Food) |
$ 1,454,575 |
|
Sliding Scale Tuition |
$ 600,000 |
|
Interest/Misc Revenue |
$ 33,815 |
|
Total Revenues & Transfers |
$ 48,274,336 |
The FY 2018 sales tax assumes a 3.5% growth rate from FY 2017 estimated sales tax revenue. Sales tax makes up 84% of the Pre-K 4 SA total revenue.
The FY 2018 Board of Director's Adopted Annual Expenditure Budget reflects a 1.5% increase from the FY 2017 Adopted Annual Budget. Pre-K 4 SA will accept a total of 2,000 students for the 2017-2018 school year. Appropriations are required for the hiring of Education Center staff, food service, and other expenses required for the daily operations of each Education Center.
ALTERNATIVES:
The Board of Director's Adopted FY 2018 Budget will be placed on the agenda for the May 11, 2017 "A" Session. City Council could choose to not approve the Board of Director's Adopted FY 2018 Pre-K 4 SA Budget and request changes to the budget by the Corporation. In this event, the Corporation's Board of Directors would need to amend their adopted Budget(s) and forward the budget(s) to the City Council for approval.
FISCAL IMPACT:
This is a briefing only and will not impact the City's General Fund Budget. The City Council is scheduled to consider approving the FY 2018 Pre-K 4 SA Budget on May 11, 2017, as required by the Pre-K 4 SA bylaws. The FY 2018 Pre-K 4 SA program Budget is $48,274,336.
RECOMMENDATION:
This is a staff briefing. Staff intends to take the Pre-K 4 SA FY 2018 Adopted Operating Budget to City Council for consideration on May 11, 2017.