Board of Education Meeting 2018-2019 Budget Public Hearing May 1, - - PowerPoint PPT Presentation

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Board of Education Meeting 2018-2019 Budget Public Hearing May 1, 2018 How did we get here? February 12, 2018: Projected Expenditures: $36,370,584 Tax @ 1.9% Levy Budget should be: $35,456,334 Variance: $914,250 Solutions

SLIDE 1

Board of Education Meeting

2018-2019 Budget Public Hearing May 1, 2018

SLIDE 2

How did we get here?

February 12, 2018:
Projected Expenditures: $36,370,584
Tax @ 1.9% Levy
Budget should be: $35,456,334
Variance: $914,250

SLIDE 3

Solutions

Reductions for Retirement

$122,841

Reduction for Staff reshuffling $339,616
Fringe Benefits on Above

$214,262

Various Expense Reductions

$237,532

Total Determination

$914,251

SLIDE 4

Additional Factors Considered

School Resource Officer

$85,000

Adopting Maximum Allowable Tax Cap of

2.042 added $25,000 to Tax Revenue

Received additional State Aid of $60,000

SLIDE 5

Projected Increases/Decreases

Increases
Salary Increases

$ 96,353

Employee Benefits

$476,288

Contractual and Other

$272,067

Tuition – Other District Placements

$177,000

BOCES Services

$166,138

Preliminary Projected Increases

$1,187,846

Decreases
Equipment

$ 42,100

Materials and Supplies

$ 43,290

Principal/Interest Bond Payments

$ 411,544

Preliminary Projected Decreases

$496,934

Net Budget Increase $690,912

SLIDE 6

Proposed 2018-2019 Expenditures

Salaries

$ 15,198,892

Employee Benefits

10,855,521

Equipment

108,200

Contractual

1,993,140

Materials/Supplies

684,650

Textbooks

129,500

Tuition

455,000

BOCES Services

2,905,796

Bond Principal/Interest

3,189,750

Transfer to Other Funds

20,000

Total Projected Expenditures

$35,540,449

SLIDE 7

Comparative Spending Plans

2018-2019 Proposed Spending
Total Projected Expenditures

$35,540,449

Percentage Increase of Spending

1.98%

Tax Levy Impact

2.04%

2017-2018 Adopted Spending
Total Expenditures

$34,849,537

Percentage Increase of Spending

2.10%

Tax Levy Impact

0%

SLIDE 8

Three Part Budget Comparison

Program

25,460,600 74%

Administrative

3,050,786 9%

Capital

6,338,151 18%

2017-2018 Adopted Budget

Program 26,536,225 74% Administrative 3,051,014 9% Capital 5,953,210 17%

2018-2019 Proposed

SLIDE 9

Projected 2018-2019 Revenues

Tax Levy and Related Items

$ 17,348,147

State Aid

$ 15,476,662

BOCES Aid

$ 1,103,640

Other Miscellaneous

$ 412,000

Appropriated Reserves

$ 1,200,000

Total Estimated Revenues

$35,540,449

SLIDE 10

Tax Cap Calculation 2017-2018

2017-2018 TAX LEVY $16,971,587 Tax Base Growth Factor 1.0159 $17,134,514 Plus Pilots $0 less taxes levied for capital $575,030 adjusted prior year tax levy $16,666,405 X Allowable levy growth factor (lesser of 2% or cpi) 1.02 $16,999,733 less pilots $0 plus carryover $0 Tax Levy Limit $16,999,733 0.166 Plus exemptions, ers, trs, capital $318,429 Maximum allowable levy $17,318,162 2.042 2018-2019 Projected Levy $17,318,162

SLIDE 11

Tax Bill Impact

2017-2018 True Value Tax Rate
$19.40 per $1,000 of Assessed Value
2018-2019 Projected True Value Tax Rate
$19.80 per $1,000 of Assessed Value
Net Increase to True Value Tax Rate
$00.40 per $1,000 of Assessed Value
Impact to Tax Payer on Annual Tax Bill
$100,000 Home

$40.00

$150,000 Home

$60.00

$175,000 Home

$70.00

SLIDE 12

Board Elections

Three candidates vying for two

Board Seats (Five Year Term):

Robert Thivierge
Mathias Donnelly
Louis Maggiore

SLIDE 13

Budget Adopted – BOE Meeting April 9, 2018 Budget Vote – May 15, 2018 Thank you for your time and attention! Please do not hesitate to call with questions:

Dr. Ryan Sherman, Superintendent

518-695-3255

Marian Chrisman, Business Manager

518-695-8251