2021-2022 Financial Planning Summary - East Allen County ...
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2021-2022 Financial Planning Summary
ESSER Funds Overview East Allen County Schools received 3 Federal Grants related to Covid Relief Funds. This information was presented in the Capital Projects Presentation on July 20, 2021 and was posted to the EACS website. The funds are restricted to items related to Virtual Learning, Social-Emotional needs, & the Safe reopening of schools. In order to access these funds, school corporations must apply, be approved by the state and then reimbursed. These are not funds given to EACS, rather they are the amount available assuming the expenditures align with the grant description. ESSER I EACS acknowledged the extra time and effort required of all staff and used the majority of ESSER 1 funds for staff stipends. ESSER II Beginning with ESSER 2, Indoor Air Quality was an added acceptable use. The projects selected for ESSER 2 were HVAC updates specifically limited to Indoor Air Quality. Other HVAC projects including internal controls, boilers, chillers and walk in-freezers were not selected as part of ESSER 2 because these components do not directly relate to indoor air quality. ESSER III ESSER 3 differed from the previous 2 grants in that a specified 20% must be designated specifically for learning loss and social emotional needs resulting from disrupted education in the 2020 school year due to the pandemic. This 20% must be allocated prior to spending any of the ESSER 3 grant. Additional requirements for ESSER 3 include having a return to in-person learning plan for the 21-22 school year. Additionally the expenditures must maintain equitable spending and must not restrict funds from the highest poverty schools.
Capital Projects and GO Bond The capital projects identified in the 2022-2024 plan are exempt from ESSER expenditures because they do not meet the requirements of the grant. Of the 17 buildings in EACS, with an average age of 44 years, the identified projects (listed on the 10- year Facility/Maintenance Planning Document), totaled $5,349,000 in 2022 and $5,049,000 in 2023. Typical expenditures for Capital Projects out of Operations Fund have been about $2,000,000 the past several years. EACS is using a GO Bond to finance the capital projects that involve HVAC, Roofing, Masonry and Asphalt for the projects identified for 2022 and 2023. These projects alone are over $5,900,000. Again, none of these expenses can be paid for through ESSER Funds because they do not meet the intention of the grants. Operations to Education Transfer Districts have two funds under the budget structure created in 2019 – Education Fund and Operations Fund (with the deletion of General, Capital Projects, Transportation and Bus Replacement Funds). Prior to 2019, specific operational costs were paid out of General Fund which received all of the State Tuition Support. In 2019, when General Fund was deleted, operational costs are now paid out of Operational Funds, but the total State Tuition dollars go to the Education Fund while local property tax dollars go to the Operations Fund. Since the Funds changed, but the revenues did not, most Indiana districts in 2020 transferred dollars from their Education Fund to their Operations Fund to help pay for those operational costs which were previously paid out of General Fund and not funded by local property taxes.
Tax Rates EACS has not received a Certified Net Assessed Value for 2022. EACS has consulted Policy Analytics and the Allen County Auditor and has used 4% increase for internal projections. EACS has traditionally advertised higher tax rates on the Form 3 to protect the district in case the assessed values are not as high as expected. In 2020-2021, EACS advertised a rate of 1.0375 and the actual was .8541 with the 2020 GO Bond. This year, advertised rates are 1.0442 and conservative internal estimates are 0.8881, which is lower than the tax rate for the 2018-2019 school year. EACS Tax Rate 5-Year History Year Tax Rate 2016-2017 .9172 2017-2018 .9318 2018-2019 .8943 2019-2020 .8484 2020-2021 .8541 Bond effect on Tax Rates The 2021 GO Bond will affect tax rates in the years 2022-2027. EACS received an A+ credit rating from Standards and Poor in fall 2021. The Bonds have not been issued, but the anticipated rates are reflected in the 2022 estimates. EACS will have Pension Debt expiring in 2023 and the 2020 GO Bond expiring in 2025.
Bond Expenditures by Project
2022 2023 2024
2021 Bonded Projects
Asphalt Pavement $50,000 - $975,000
HVAC Updates $626,000 $780,000 $1,002,000
Masonry Management
Plan $760,000 $495,000 -
Roof Management Plan $1,740,000 $1,475,000 $1,580,000
$3,176,000 $2,750,000 $3,557,000
Note: none of these expenses can be paid for through ESSER Funds because they do not meet the intention of the grants.ESSER I Budget $2,170,747
Overview of Grant
• Period of Availability: March 2020-September 2022
• EACS application approved July 7, 2020
• Authorized by CARES Act of 2020
Indirect Costs,
• Requires non-public equitable share
• Purpose: School needs related to: $145,547
a. Virtual Learning Commencement,
b. Social-Emotional needs $65,000
c. Safe reopening of schools
Instruction,
$189,800
Nonpublic
Equitable Share,
$160,701
Staff Stipends, PPE &
$1,532,500 Sanitization,
$237,900ESSER II Budget $10,187,409.60
Indirect Costs,
Overview of Grant $17,500
• Period of Availability: March 2020-September 2023
• EACS application approved April 30, 2021 Technology
• Authorized by the CRRSA Act of 2020 Devices,
• Purpose: School needs related to: $444,150
a. Same as ESSER I
b. Improvement in Indoor Air Quality
PPE &
Sanitization,
$60,611
HVAC
Improvements,
$9,665,148.00ESSER III Budget $22,879,474.74
Overview of Grant
• Period of Availability: March 2020-September 2024 Address Learning Loss &
• Authorized by ARP Act of 2021 Accelerate Instruction,
• EACS application approved June 24, 2021 $4,057,077
• Purpose:
Social Emotional
a. Reopen schools to in-person learning Learning,
b. Same use as ESSER I & II $2,070,100
• Mandatory Requirement 1:
• Maintenance of Equity
Technology
• Restricts the reduction of funds at highest
Upgrades,
poverty schools $585,050
• Mandatory Requirement 2:
• 20% to address Learning Loss & SEL needs Plumbing
• Must be budgeted prior to balance of funds Improvements,
• Mandatory Requirement 3: $907,500
• Return to In Person Learning Plan
• Must be renewed every 6 months for the
Sanitization/PPE/Testing
duration of the grant.
, $320,000
Indirect
Note: EACS has not received this money. This is Costs, School Specific
$1,548,232
available after applying through the state. Needs, $440,000 School Safety, $221,600You can also read
