EXCELLENCE IN EDUCATION
Lewis-Palmer School District’s
Financial
Overview
2015
LPSD maintains an Aa2/AA rating from
Moody and Standard and Poor.
These ratings are among the highest categories in the
state and are based on the district’s ability to
conservatively manage finances through the
multiple state funding cutbacks.
Lewis-Palmer School District
146 Jefferson Street, Monument, CO 80132
(719)488-4700 • [email protected] • www.lewispalmer.org
EXCELLENCE IN EDUCATION
The Association of School Business Officials (ASBO) International
awarded Lewis-Palmer School District #38 its
Certificate of Excellence in Financial Reporting award
for having met or exceeded the program’s high standards for
financial reporting and accountability for the 2014 fiscal year.
EXCELLENCE IN EDUCATION
Return on Taxpayer Dollars
Lewis-Palmer School District
is a premiere preK-12 school district
with the philosophy that each individual student
should have an educational experience
customized to meet specific needs.

Our schools are among the top in Colorado

Accredited with Distinction by the State

Higher scores on standardized testing than
neighboring districts

Place in the overall top 10% for ACT college
entrance exams

Advanced Placement Honor Roll 4 years

Acclaimed music, art, sports, and activity programs

Among our 356 licensed teachers, 100% are rated
as highly-qualified in their subject areas, more than
60% have earned a master's degree or doctorate

Since 2010, students average more than 10 million
dollars in scholarship and award offers for about
460 graduating seniors each year

More than 85% of our graduates each year plan to
continue on to post-secondary education

Approximately 5% of students join the military with
about four D38 students appointed each year to U.S.
military academies
Lewis-Palmer School District’s Financial Performance
Bond rating agencies publish guidelines and examples of sound financial practices.
Standard and Poor’s Top Ten Management Characteristics
are listed below along with evidence supporting LPSD’s achievement of these standards.
Top Ten Management Characteristics
1
Structural Balance – Ensuring the
budget is balanced for the long-term.
LPSD Performance
 The budget is in balance with on-going revenues
matching on-going expenditures.
 Board Policy ensures that future revenues cannot be
used for current benefit. In other words, today’s dollars
are spent on today’s students, and future dollars are
saved for future students.
2
Strong liquidity management or
“ensuring adequate cash reserves and
cash flow”
 The district pools its cash reserves to maximize return on
3
Regular economic and revenue updates
to identify shortfalls early
 Monthly “Financial Dashboard” is presented to the Board
4
Focus on reserves – “ensuring a
balanced budget and holding a rainy day
fund”
 Board policy requires “rainy day funds.”
 Practice consistent conservative fiscal management.
 Board Policy requires minimum reserves in light
investment and ensures adequate cash flow.
and public detailing revenue streams and expenditure
items that are highly susceptible to economic conditions.
of the State’s structural imbalance.
5
Prioritized spending plans and
established contingency plans
 District monitors economic conditions and legislative
actions.
 Key educational expenditures necessary to achieve our
mission are protected.
 Adequate reserves are held in order to ensure time to
sensibly react to changes in the economy.
6
Strong long-term and contingent liability
management
 Post-employment liabilities are managed.
 Continual analysis of enrollment forecasting and the
state’s ability to fund K-12 education occurs.
7
Multiyear financial planning that
considers affordability of initiatives
before they become part of the budget
 Board policies ensure in depth review of all contracts that
8
A formal debt management policy to
evaluate future debt profile
 The state of Colorado has statutes which govern and
9
“Pay as you go” financing strategy for
operating and capital budgeting
 As the state is recovering from the recession, the district
10 A well-defined and coordinated
economic development strategy
may place long-term financial responsibilities upon the
district.
 Review and discussion of expenditures that will likely increase over time such as utility and pension
expenditures occur annually.
manage general obligation debt for all school districts.
is currently evaluating the status of its facilities to create
three to five year plans designed to ensure deferred
maintenance needs are addressed.
 The district works closely with the Towns of Monument
and Palmer Lake as well as the Tri-lakes Chamber to
ensure it does its’ part to help the Tri-Lakes area. We
realize our schools are the number one reason families
move into our communities.
Percentage of 2012 Budget Spending Per Pupil - How LPSD Compares
Transportation
Activities concerned with conveying
students to and from school as provided
by state and federal law (includes trips
between home and school and trips to
school activities.
Food Service
Activities concerned with providing food
to students and staff (includes preparing
and serving regular and incidental meals,
lunches or snacks in connection with
school activities).
Plant Operations
Activities concerned with keeping the
physical plant open, comfortable, and safe
for use and with keeping the grounds,
buildings and equipment in effective
working condition and state of repair.
*
* includes charter school building debt—2% of total
Instructional Support
Activities associated with assisting the
instructional staff with the content and
process of providing learning experiences
for students.
Student Support
Activities designed to assess and improve
the well-being of students and to
supplement the teaching process.
Activities dealing directly with interaction
between teachers and students in
classroom or other location (includes
other mediums such as computer etc.
and the activities of aides or assistants
of any type who assist in the instructional
process).
Classroom Instruction
Administration
Activities concerned with establishing and
administering policy for operating the
school district.
Actual Expenditures Per Pupil:
$10,159
$8,512
$7,777
2015-2016 Proposed Budget
EXCELLENCE IN EDUCATION
Annual Budget - All Funds
General Fund - Revenue by Source
2015-2016 Proposed Operating Budget
EXCELLENCE IN EDUCATION
Expenditures by Object
Expenditures by Program