Currently Reading:
Potential Changes to Education Funding

Potential Changes to Education Funding

As we move into November, the potential for ed funding changes are very obvious.

As we move into November, the potential for education funding changes are very obvious. We don’t really know how the recent ruling on motor vehicle taxes will affect distributions, and the possible revenue increase from 779 (if it passes) along with the increased likelihood of a fiscal year revenue failure will make this a very different spring. As we prepare for all of these eventualities, it is important to be working toward finding a consistent budgeting model to accommodate these eventualities.

Let’s look at the primary issues that are facing us in the immediate future:

  • State sales tax collections are continuing a downward trend from year to year.
  • Oil and gas have not shown an increase in several months, even though futures prices have moved upward.
  • Motor vehicle and gross production are still lagging.
  • REA has shown some recovery.
  • We continue to see growth in ad valorem and County 4-Mill.
  • We will probably see an increase in WADM at mid-term. We are projecting a move from 1,123,000 WADM to 1,129,000 WADM based on SDE budgeting from last year and our data on the highest three years.

As we move into the spring and prepare to set budgets for FY 18, it is important that you are cognizant of the current situation but also aware of the future situation. We won’t know until after the election how the money will be distributed to districts if 779 passes, and preparation for the following year as soon as this knowledge is passed on to districts is essential for future budgeting.  

We should have a better picture after the next payments from motor vehicles on how the motor vehicle formula will be changed and what year will be used as the protected ADA percentage. OPSRC will have the historical data for you to compare your collections, and we will be pulling down the November, December and January payments from the Tax Commission for your ease in comparison. We don’t really know what the net effect of the court ruling will be until we see the data. We do know there will be 311 districts receiving relief and about 75 districts that will have an adjustment to their actual payments.  

If you need anything please feel free to contact me by email.  

Andy Evans

Director, Finance

Andy serves as the Finance Director for OPSRC. In this role, he provides help in financial and business-related areas for schools. This includes budgets, managing cash flow, Estimate of Needs, federal programs and general service to aid in the effective use of district resources. Additionally, Andy serves as a resource in customizing budget spreadsheets, projection sheets, and other financial tools essential to administrators in maintaining their district’s financial health.

You may also like...

Losing the Fear of Social Media & Using it as a Community Engagement Tool

When I talk to school leaders about how powerful a tool social media can be for engaging parents and their communities at large, common responses I hear are that they don’t want to open themselves up for even more criticism and that social media is more trouble than it’s worth.

Read More
Tuesday Solutions: Video and Professional Development

Teaching tends to be a solitary endeavor. Sure, we deal with people everyday but the average teacher goes into a classroom and teaches on their own, seldom getting to see another teacher actually teach and receiving relatively little feedback.

Read More
OPSRC Appoints Teaching and Learning Director

The Oklahoma Public School Resource Center (OPSRC) has named Carole Kelley as its new director of teaching and learning.

Read More
Let's Get Engaged! Increasing Trust & Transparency Through Communications

Hopefully you haven't experienced a serious crisis in your school district and the communication nightmare that can follow if you don't keep your publics informed. But if you have, you know how quickly rumors spread, parents and community members get angry and media is notified.

Read More

Join in on the conversation