Washoe County School District Presentation to Committee on Local Government Finance Presented by Mark Mathers Chief Financial Officer April 23 2019 WCSD General Fund SurplusesDeficits In FY18 WCSD significantly reduced its deficit compared to the prior two fiscal years ID: 761112
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Washoe County School District Presentation to Committee on Local Government Finance Presented by: Mark Mathers, Chief Financial Officer April 23, 2019
WCSD General Fund Surpluses/Deficits In FY18, WCSD significantly reduced its deficit, compared to the prior two fiscal years.
Ending Fund Balance for General Fund The ending fund balance as of 6/30/18 of 8.8% was within the Board’s policy of 8% to 10% of expenses.
Cost Reductions in FY18 and FY19 FY19 - $12.1 million in ongoing reductions to personnel and operating costs FY18 - $38.7 million in reductions, of which $20.9 million were one-time reductions and $17.8 were ongoing reductions New Budget and Fiscal Policies Priority Based Budgeting – first school district in the nation to use this approach. Actions Taken by WCSD
Unlike city and county governments, funding of school districts in Nevada is almost entirely dependent on the State. In the General Fund, 80% of our revenues flow through to us through the per-pupil basic support guarantee Local revenues (the other 20%) are factored in by the State in determining the State’s share. State’s funding model currently looks backward to the first year of the biennium in terms of funding costs. While funding is determined by the State, we still must collectively bargain locally. However, Some Context for WCSD’s Budget Challenges…..
Per-Pupil Funding for WCSD
Historical Use of State General Fund For K-12 Education As other revenues have increased, the percentage of the State’s Gen. Fund budget devoted to K-12 is decreasing. This includes categorical grants funded by the State’s General Fund. It does not include federal grants or programs that are passed through to districts, however.
Impact of Additional Revenues Because the funding of K-12 is set up for the State to receive any additional revenues like LSST, we do not receive any benefit from a growing economy in Washoe County.