(Note from lucastxonline webmaster: Due to the boilerplate nature of a good part of the budget, we have chosen to include parts that we found interesting. We are including the financial section data below with extraneous drawings and platitudes omitted. Any text in red is clarifying remarks made during scanning of the document.  – Raymond Massey)

 

State Financial Aid

 

The state aid formula provides for an equitable system of funding as required by a series of Court cases culminating in 1992 (Edgewood cases). The state funding formula considers each district's state and local funding capability in order to equalize funding for public school students. School districts are categorized as either those above or below the equalized wealth level of $305,000 taxable value per weighted average daily attendance (WADA). As a district's wealth per WADA increases, their state aid goes down. Conversely, as a district's wealth per WADA decreases, their state aid goes up. For purposes of calculating state aid, prior year property values are used.

 

Districts with a wealth level above $305,000 in 2003/04 are subject to recapture and are required to send dollars to the state for redistribution. Lovejoy ISD is considered a property wealthy district (Chapter 41), and as such is subject to recapture. Due to passage of H.B. 2879 in the 77th Legislature, Lovejoy has a partial Hold Harmless statute through the 2003-2004 school year. This means that Lovejoy will be subject to much less recapture than would otherwise be the case. In the 2004-2005 school year, the district will be subject to recapture according to state law prevailing at that time.

 

The reliance upon property taxes has reached its limits with many of the districts across the state reaching the maximum M&O rate of$1.50. The current system is recognized to be at its capacity for funding the public school system in the State of Texas.

 

The State of Texas legislature is constitutionally required to meet biannually for 140 days and adopt a budget spanning two consecutive years. The 78th legislative session met this past spring. Law passed during the 78th session effecting School finance will be in place during this coming school year.

 

Staffing

 

Since the education of students is a labor-intensive responsibility, payroll expenditures comprise approximately 75% -80% of the General Fund expenditures after deducting tuition and recapture expenditures. Budgeted expenditures for salaries are determined in accordance with established staffing guidelines that are based on projected student enrollment at each individual campus.

 

Lovejoy ISD

Staffing History

 

1998/99           1999/00           2000/01           2001/02           2002/03

Professionals                                                  6                      7                      12                    13                    13

(Superintendent, Assistant Superintendent,

Director, Other Professional, Principal,

Assistant Principal, Counselor, Librarian,

Nurse)

 

Teachers                                                         44                    51                    61                   63                    71

(Teacher- Elementary, Teacher -Special

Ed)

 

Other                                                              39                    40                    47                    48                    47

(Paraprofessional, Food Service, Bus Driver,

Hourly, Other)

 

Total                                                               89                    98                    120                  124                  131

 

Student Enrollment                                        635                  707                  735                  775                  890

 

 

Expenditure Object Codes

 

6100 PAYROLL COSTS

6112 Salaries or Wages for Substitute Teachers

6117 Extra Duty -Professional

6119 Professional Salaries

6121 Extra Duty -Support

6125 Hourly Personnel

6129 Paraprofessional Personnel

6131 Accumulated Sick Time

6132 TRS Supplemental

6134 Travel Allowance

6141 Medicare

6142 Group Insurance

6143 Workmen's Compensation

6144 TRS On Behalf

6145 Unemployment Compensation

6146 Teacher Retirement

6148 Other Payroll Benefits

 

6200 PROFESSIONAL & CONTRACTED SERVICES

6211 Legal Services

6212 Audit Services

6213 Tax Appraisal & Collection

6219 Professional Services

6222 Student Tuition

6239 Education Service Center Services

6255 Water

6256 Telephone

6257 Electricity

6258 Gas

6249 Maintenance & Repair

6259 Utilities

6269 Rentals

6299 Miscellaneous Contracted Services

 

6300 SUPPLIES AND MATERIALS

6311 Fuel

6315 Janitorial Supplies

6316 Vehicle & Transportation Supplies

6319 Maintenance & Facilities Supplies

6321 Textbooks

6329 Reading Materials & Library Books

6339 Testing Materials

6396 Postage

6399 General Supplies (including software licenses)

 

6400 OTHER OPERATING COSTS

6411 Travel (including: conference fees & registrations, rental cars}

6412 Student Travel

6419 Board Travel

6429 Insurance & Bonding Costs

6439 Election Costs

6494 Bus Transportation (field trips)

6499 Misc Expenses (including membership fees &food)

 

6500 DEBT SERVICE

6511 Bond Principal

6512 Capital Lease Principal

6519 Debt Principal

6521 Interest on Bonds

6522 Capital Lease Interest

6523 Interest on Debt

6529 Interest Expenditures/Expenses

6599 Other Debt Service Fees

 

6600 CAPITAL EQUIPMENT

6619 Land Purchase and Improvement

6629 Building Purchase, Construction or Improvements

6631 Vehicles

6639 Furniture and Equipment $5,000 and greater

(including file servers, furniture $5,000 and over)

 

Organization Codes

 

CODE             CAMPUS/DEPARTMENT

101                  Lovejoy Elementary

102                  Hart Elementary

 

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FINANCIAL (Note from lucastxonline webmaster: All of the data from this section is included. Clip Art and some historical attendance data were omitted.)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

This function (Instruction) is used for activities that deal directly with the interaction between teachers and students.

 

 

 

 

 

 

 

This function (instructional resources) is used for expenditures that are directly and exclusively used for resource centers, libraries, and media.

 

 

 

 

 

 

 

This function (Instructional Staff Development) is for expenditures that are directly and exclusively used to aid instructional staff in planning, developing, and evaluating the process of providing learning experiences for students.

 

 

 

 

 

 

This function (campus administration)  is to direct and manage a school campus.

 

 

 

 

 

 

This function (Guidance & Counseling)  is used for expenditures that directly and exclusively assess and test students’ abilities, aptitudes, and interests—and for counseling students with respect to career and educational opportunities.

 

 

 

 

 

This function (Health Services) is used to classify expenditures made to provide physical health services which are not direct instruction.

 

 

 

 

 

 

This function (Transportation) is used for expenditures that are incurred for transporting students to and from school.

 

 

 

 

 

This function (General Administration) is used to record expenditures for the purpose of managing or governing the school district as an overall entity.

 

 

 

 

 

 

This function (Plant Maintenance) is for activities to keep the physical plant and grounds open, clean, comfortable and in effective working condition and state of repair.

 

 

 

 

 

This function (Data Processing)  is used for data processing services, whether in-house or contracted—such as computer facility management, computer processing, systems development.

 

 

 

 

 

This function (Contracted Instructional Services) is used to classify tuition paid to another public school purchasing attendance credits.

 

 

 

 

 

 

This function is used to record payments made to Shared Service Arrangements-such as our Special Education Cooperative.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Lovejoy ISD

2003-2004 Budget & Tax Adoption Calendar

 

Date                    Activitv/Process

 

May 15, 2003 Deadline for submitting appraisal records to ARB

 

June 16, 2003 Deadline for Commissioner of Education to send notice to districts required to equalize wealth

 

July 22, 2003 Deadline for ARB to approve appraisal records

 

July 25, 2003 Deadline for Chief Appraiser to certify rolls to taxing units

 

July 25, 2003 Certification of anticipated collection rate by collector

 

July 28, 2003 Calculation of rollback tax rate

 

August l, 2003 Complete final draft of Proposed Budget

 

August 5, 2003 72 Hours notice for meeting (Open Meetings Notice) to Propose Tax Rate for Publication

 

August 12, 2003 School Board Budget Workshop, Adopt Proposed Tax Rate & Set date of Public Meeting to Discuss Proposed Tax Rate

 

August 9, 2003 Send Copy for Publication of Notice to Discuss Budget & Tax Rate to Newspaper

 

August 15, 2003 Publication of Notice to Discuss Budget & Tax Rate in Newspaper

 

August 22, 2003 72 Hours notice for meeting (Open Meetings Notice) for Public Meeting

 

August 22, 2003 72 Hours notice for meeting (Open Meetings Notice) for Adoption of Tax Rate & Budget

 

August 26, 2003 Public meeting on budget & adopt proposed tax rate

 

August 26, 2003 Budget and Tax Rate Adoption for 2003-2004 & Final 2002-2003 Budget Amendment

 

Responsibility of Outside Entity Responsibility of School Board

Responsibility of Shay Adams Responsibility of Superintendent

 

 

INFORMATIONAL (selected)

 

 

Top Ten Taxpayers

Lovejoy Independent School District

 

Name of Taxpayer                 Nature ofProperty                  2002/03                       % of Total

Taxable                       Assessed

Assessed                    Valuation

Valuation

US Home Development Co      Land Development                   13,919,590                  $ 2.01%

Homeowners Association of     Homeowners Association         5,300,728                    0.77 %

Stacy Ridge Estates Ltd            Land Development                   3,826,961                    0.55%

Drees Custom Homes LP         Land Development                   3,341,396                    0.48%

Bayless Jon W &Rebecca L     Land Development                   2,652,298                    0.38%

Ashton Dallas Residential LLC Land Development                    2,592,057                    0.37%

Oncor Electric Delivery Co       Electric Utility               1,872,770                    0.27%

Bozeman Spencer Dev Co        Land Development                   1,768,529                    0.26%

Southwestern Bell Telephone Telephone Utility              1,706,840                    0.25%

Weekley Homes LP                 Land Development                   1,663,459                    0.24%

 

38,644,628                  $ 5.58%

 

 

Taxable Value History

Tax Year                      Taxable Value              % Change

as of Jan

1st

1998                            323,143,204                16.5%

1999                            375,952,276                16.3%

2000                            440,718,614                17.2%

2001                            545,587,129                23.7%

2002                            683,875,829                25.3%

2003*                          774, 700,000               13.3%

*Estimate