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June 24, 2020 — Budget

This is the School District of Clayton’s adopted budget document for the 2020–2021 fiscal year (dated June 24, 2020). It contains multi‑fund budget tables showing beginning and ending balances, revenues (including current and delinquent property tax collections and other sources), expenditures by fund, transfers, and net changes; line items and subtotals for General, Special Revenue, Capital Projects, Debt Service, and Business‑Type funds are shown. The excerpts explain how assessed valuations and tax rates are calculated, note recent changes from Proposition E (a voter‑approved operating levy increase that passed with 64.2% support), and list four new construction developments included in revenue projections. Specific figures in the excerpts include total estimated beginning and ending fund balances (e.g., $31,035,744 beginning balance and $33,328,944 budgeted balance 6/30/21), revenues (total revenues $69,537,300), and expenditures (total expenditures $67,244,100) for the presented fund groupings.
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However, $4.5 million has been formally committed by the Board for future capital expenditures. This 2 leaves a net operating fund balance of $23.0 million or 40 percent of budgeted operating expenditures which exceeds the Board’s fund balance goal of 18 percent. As part of the normal budgeting process, long-range projections are developed and continually updated. This process allows the District to determine how much of available resources can be used for ongoing projects, such as new programs or initiatives, versus one-time projects, such as facility repairs. Current long-range projections include new revenue from four developments where construction plans have been approved.  Centene II – Phase I – 7600, 7606, 7620 Forsyth Boulevard; 14 South Hanley Road, Clayton – 40 percent tax abated property  Centene University/Early Childhood Development Center – 7501 Maryland Avenue, Clayton  Clarendale of Clayton – 7651 & 7601 Clayton Road, Clayton  Forsyth Point – 8001, 8015, 8019, 8023, 8025, 802, and 8049 Forsyth Boulevard and 15 North Meramec, Clayton There are several other potential new developments that are currently in the conceptual phase and have either not been submitted to the City for review or are waiting on approval. Estimated revenue from these developments will be included in projections when approved. This conservative and prudent approach to planning by Boards of Education has been a historical trademark of the District. Long-range financial planning will continue to be relied upon with administration prepared to react to unanticipated changes to planned revenue and expenses. Preparation of the 2020-2021 budget began in December 2019. It is our deep commitment to all students’ education that drives our thoughtful conversations and guides our budgetary decisions. Input was sought from staff, administrators and instructional leaders throughout the District. Specific information on developing the budget was discussed with the Board as study items on January 22 and May 13, 2020. The 2020-2021 School District of Clayton budget is recommended to the Board of Education for adoption. Respectfully submitted this day, June 24, 2020, Sean N. Doherty, Ed.D Mary Jo Gruber, CPA, CGMA, SFO Superintendent Chief Financial Officer 3

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