2020-2021 BUDGET June 24, 2020

2020-2021 BUDGET June 24, 2020 TABLE OF CONTENTS BUDGET MESSAGE 1 INTRODUCTORY SECTION 4 District Entity 5 Governance 5 Board of Education 5 The Role of the Board 5 Decision Making 5 Executive Administration 6 District Organizational Chart 6 District Mission and Goals 7 Mission, Vision and Core Values 7 Strategic Planning 8 Our Schools 10 Enrollment 11 Resident 13 Non-Resident 14 Budgets and Budgetary Accounting 15 Budget Management 15 Budget Cycle 15 Budget Development Process 16 Summary of Significant Account Policies 18 Fund Accounting 18 Revenue 19 Sources of Revenue 19 Estimating Revenue 23 Establishing a Tax Rate 24 Total Revenue by Fund 25 Operating Revenue by Object 26 Expenditures 27 Expenditures by Function 27 Expenditures by Object 27 Total Expenditures by Fund 28 Operating Expenditures by Object 29 Staffing 30 Salaries and Benefits 30 School Building & Dept Budgets 31 Capital Expenditures 31 Clayton Recreation Sports & Wellness 32 Family Center 33 Parents as Teachers 34 Early Childhood Special Education 35 Summer Programs 35 Debt Service 35 General Obligation Bonds Outstanding 35 Fund Balance 36 Reporting 39 FINANCIAL SECTION 40 Actual Revenues, Expenditures & Balances 41 Estimated Revenues, Expenditures & Balances 43 Budgeted Revenues Expenditures & Balances 45 Revenue Budget & Four-Year Comparison 47 Estimated Other Revenues by Fund 50 Revised Estimated Prior Year Other Revenues 53 Total Expenditures Function/Fund 56 Location/Fund 59 Function/Object 61 Location/Object 65 Operating Expenditures Function/Fund 67 Location/Fund 70 Function/Object 72 Location/Object 75 Capital Improvement Plan (CIP) Expenditures 77 Business-Type Activities 80 Prior-Year Total Expenditures 82 Three-Year Comparison 83 Function/Fund 85 Function/Object 90 Prior-Year Operating Expenditures 97 Three-Year Comparison 98 Function/Fund 100 Function/Object 105 GLOSSARY 112

TABLE OF CONTENTS BUDGET MESSAGE 1 INTRODUCTORY SECTION 4 District Entity 5 Governance 5 Board of Education 5 The Role of the Board 5 Decision Making 5 Executive Administration 6 District Organizational Chart 6 District Mission and Goals 7 Mission, Vision and Core Values 7 Strategic Planning 8 Our Schools 10 Enrollment 11 Resident 13 Non-Resident 14 Budgets and Budgetary Accounting 15 Budget Management 15 Budget Cycle 15 Budget Development Process 16 Summary of Significant Account Policies 18 Fund Accounting 18 Revenue 19 Sources of Revenue 19 Estimating Revenue 23 Establishing a Tax Rate 24 Total Revenue by Fund 25 Operating Revenue by Object 26 Expenditures 27 Expenditures by Function 27 Expenditures by Object 27 Total Expenditures by Fund 28 Operating Expenditures by Object 29 Staffing 30 Salaries and Benefits 30 School Building & Dept Budgets 31 Capital Expenditures 31 Clayton Recreation Sports & Wellness 32 Family Center 33 Parents as Teachers 34 Early Childhood Special Education 35 Summer Programs 35 Debt Service 35 General Obligation Bonds Outstanding 35 Fund Balance 36 Reporting 39 FINANCIAL SECTION 40 Actual Revenues, Expenditures & Balances 41 Estimated Revenues, Expenditures & Balances 43 Budgeted Revenues Expenditures & Balances 45 Revenue Budget & Four-Year Comparison 47 Estimated Other Revenues by Fund 50 Revised Estimated Prior Year Other Revenues 53 Total Expenditures Function/Fund 56 Location/Fund 59 Function/Object 61 Location/Object 65 Operating Expenditures Function/Fund 67 Location/Fund 70 Function/Object 72 Location/Object 75 Capital Improvement Plan (CIP) Expenditures 77 Business-Type Activities 80 Prior-Year Total Expenditures 82 Three-Year Comparison 83 Function/Fund 85 Function/Object 90 Prior-Year Operating Expenditures 97 Three-Year Comparison 98 Function/Fund 100 Function/Object 105 GLOSSARY 112 Due to the complete reconfiguration of the Missouri Public School Accounting System mandated by the Missouri Department of Elementary and Secondary Education (DESE) and implemented by the District as of July 1, 2018, it is extremely difficult to create an account-by-account analysis by function and object of the prior year expense accounts for the purposes of this document. Accounts have been separated by DESE into multiple accounts, combined with portions of other accounts, new accounts have been added and some accounts have been deleted. A single report comparing prior year’s expenses will be reinstated when an account-to-account comparison is available.

Accounts have been separated by DESE into multiple accounts, combined with portions of other accounts, new accounts have been added and some accounts have been deleted. A single report comparing prior year’s expenses will be reinstated when an account-to-account comparison is available. BUDGET MESSAGE As a community, the students, staff, parents and patrons of the School District of Clayton are united in our commitment to student learning. Our mission, vision and core values embody why we are here, what we want our students to become, and the principles that guide our work. The District’s mission to inspire each student to love learning and embrace challenge within a rich and rigorous academic culture, and the vision to develop leaders who shape the world through independence, creativity and critical thinking set the standard for the education we provide. During the 2018-2019 school year, the District began developing a new strategic plan with the end in mind: our students. We developed a Profile of a Clayton Graduate that includes competencies we want for every Clayton graduate. During the 2019-2020 school year, we engaged the community to establish the direction of the District’s new strategic plan, using the Profile as the foundation of our work. We envision a plan that will influence our approach to learning and challenge the mental models of what our schools look like for our students. We have established goal statements to guide our work:  We will ensure each learner feels safe and valued.  We will commit to the educational growth of our learners through an equitable, personalized and individualized learning experience.  We will be dedicated to the personal growth of our learners in their social, emotional and physical well-being. While our District’s new strategic plan will serve as a guide for where we are going over the next three to five years, we will also be purposeful about being reflective and make adjustments along the way. We are taking an evergreen approach to our strategic plan. This means we will evaluate it more often and make changes as needed based on evidence we gather. We will have action steps that are aspirational, attainable, and aligned to our resources. On April 2, 2019, the Board of Education (Board) asked the community to vote on Proposition E, an operating levy increase of 56 cents per $100 of assessed valuation and an eight-cent waiver of Proposition C sales tax revenues. The voters approved the ballot measure with 64.2 percent of the votes. The net effect of both measures provided the District with an additional 64 cents of operating revenue, or approximately $7.3 million. The additional revenue will maintain and strengthen the District’s academic excellence and fiscal stability by eliminating the gap between revenues and expenses, addressing facility and maintenance needs and rebuilding reserves. The community's support of Proposition E will have a lasting impact on our schools and our students. Proposition E was placed on the ballot because the District was prudently spending down operating reserves over several years. During this time, the District made reductions in expenditures with the goal of continuing to align District resources with our priorities but also protect what matters most: our instructional core. While we reduced our expenditures and made permanent changes to staffing and programs, we did it in a way that protected our instructional core and prioritized organizational and operational impacts in order to minimize the direct impact on our students and their learning. Due to the successful passing of Proposition E, the District projects approximately a $2.8 million operating surplus and growing the fund balance of approximately 40 percent, which exceeds the 18 percent fund balance goal. 1