CENTRAL YORK SCHOOL DISTRICT Preliminary GENERAL FUND BUDGET

Transcription

1 CENTRAL YORK SCHOOL DISTRICT Preliminary GENERAL FUND BUDGET Approved by the Board of School Directors May 14, 2018 EDUCATIONAL SERVICE CENTER 775 Marion Road, York PA (717)

2 EXECUTIVE SUMMARY The Preliminary Central York School District General Fund Budget includes a tax increase of 3.0% in local real estate taxes. There is an increase projected for State Basic Education Funding and Special Education Funding as proposed by the current State Budget Proposal. The total proposed budgeted revenue of $89,169,053 is an increase of $2,819,292 or 3.26% over the budget. The total proposed expenditures for the fiscal year are $89,200,050. This is an increase of $1,700,239 or 1.94% over The proposed budget Does include a transfer to the Capital Reserve Account of $500,000. Expenditures exceed revenue. This would provide a small deficit budget of -$30,997 in the attached budget draft and would decrease the District s fund balance. The final budget must be adopted in June Page 1

3 CENTRAL YORK SCHOOL DISTRICT General Fund Budget Adopted Proposed Budget Includes new $ Millage Rate % Increase for BEF and SEF REVENUES LOCAL 6000 $64,596,398 $66,731, % STATE 7000 $20,609,476 $21,674, % FEDERAL 8000 $643,887 $763, % TOTAL CURRENT REVENUE $85,849,761 $89,169,053 SWAP Reserve Use $500,000 $0 Total Revenue Funding $86,349,761 $89,169,053 $2,819,292 Revenue Change 3.26% EXPENDITURES PROPOSED EXPENDITURES $86,799,811 $88,700,050 0% (no staff raise) CAP RESERVE TRANSFER $700,000 $500,000 TOTAL EXPENDITURES $87,499,811 $89,200,050 $1,700,239 Expense Change 1.94% Projected Surplus / Deficit -$1,150,050 -$30,997 PDE State Limitation Fund Balance 8%= $7,136,004 General Fund Balance $5,127,671 $5,127,671 Beginning Fund Balance To (From) Fund Balance $0 $0 To (From) Fund Balance Estimated Fund Balance $5,127,671 $5,127,671 Fund Balance Available $1,150,050 -$30,997 Committed ("Designated") Funds (USE PSERS) $5,127,671 $5,127,671 Unassigned Ending Fund Balance Page 2

4 CENTRAL YORK SCHOOL DISTRICT General Fund Budget Adopted Proposed Budget Includes new $ Millage Rate % Increase for BEF and SEF REVENUES LOCAL 6000 $64,596,398 $65,075, % STATE 7000 $20,609,476 $21,674, % FEDERAL 8000 $643,887 $763, % TOTAL CURRENT REVENUE $85,849,761 $87,513,176 SWAP Reserve Use $500,000 $0 Total Revenue Funding $86,349,761 $87,513,176 $1,163,415 Revenue Change 1.35% EXPENDITURES PROPOSED EXPENDITURES $86,799,811 $88,700,050 0% (no staff raise) CAP RESERVE TRANSFER $700,000 $500,000 TOTAL EXPENDITURES $87,499,811 $89,200,050 $1,700,239 Expense Change 1.94% Projected Surplus / Deficit -$1,150,050 -$1,686,874 PDE State Limitation Fund Balance 8%= $7,136,004 General Fund Balance $5,127,671 $5,127,671 Beginning Fund Balance To (From) Fund Balance $0 -$1,686,874 To (From) Fund Balance Estimated Fund Balance $5,127,671 $3,440,797 Fund Balance Available $1,150,050 $0 Committed ("Designated") Funds (USE PSERS) $5,127,671 $3,440,797 Unassigned Ending Fund Balance Page 3

5 Central York School District Expense and Revenue Changes (since December) Budget Revenue $ 86,349, Budget Expenses $ 87,499, As of December 4, 2017 Preliminary Revenue $ 87,093, Preliminary Expenses $ 90,482, Proposed Budget Revenue Changes Budget Reductions / Cuts Proposed Budget Expense Increases PSERS Rate Reduction (290,356.00) Elementary Position Increase 5/6th to Full time 14, Additional Local Revenue Increases from , Health Insurance reduction (204,189.00) HS Water Polo Team Funding 11, Basic Ed Funding (State BEF) Increase 345, Retirement attrition savings: TW Ponessa Counselor (additional) 53, Special Ed Funding (State SEF) Increase 42, Retirement differential (140,000.00) Schaad Security Officer (additional) 35, Reduction of PSERS / SS reimbursement (170,563.13) MS Support S12 Position (51,873.56) Water Polo Athletic Fund Revenue 2, HS Support S10 Position (25,234.51) 3.0% Act 1 tax increase 1,655, Elem Teacher Position (114,731.99) Special Education Position (89,076.47) HS Support S10 Position (28,423.00) HS German Teacher Position (131,140.00) 10% Building Principal Budget Cuts (134,278.00) 50% Cut in Teacher Leadership Stipends (95,000.00) 4:15 pm Activity Bus Run (11,000.00) HS Cyber Café stipend hours (15,000.00) Athletic Budget Cuts (40,000.00) Assistant Superintendent Budget Cut (19,000.00) Board Travel and Board Food (7,000.00) Total Revenue Changes $ 2,075, Total Expense Decreases $ (1,396,302.53) Total Expense Increases $ 113, Projected Revenue $ 89,169, Projected Expenses $ 89,200, Page 4

6 CENTRAL YORK SCHOOL DISTRICT BUDGET CURRENT REAL ESTATE ASSESSED VALUE Assessed Values MANCHESTER (36) NORTH YORK (80) SPRINGETTSBURY (46R) TOTAL Apartment 9,336,970 4,987,420 38,575,510 52,899,900 Commercial 159,139,100 10,635, ,843, ,618,670 Farm 14,114, ,609,425 29,724,195 Industrial 276,225,535 6,485, ,985, ,695,926 Residential 1,185,979,325 44,970, ,195,843 2,060,145,650 Utility 1,778, ,096,390 2,875,200 Taxable Assessed Value 1,646,574,510 67,078,912 1,242,306,119 2,955,959,541 Exempt 106,613,070 21,018, ,101, ,733,475 1,753,187,580 88,097,637 1,425,407,799 3,266,693,016 30,746,074 1,252,548 23,197,272 55,195,894 Taxable assessed value of $2,955,959,541 at 97% net est collection / mill will produce = $2,852,501 Current Budget $55,109, Dollar Increase $86,396 $55,195, No increase $137,990 $55,333, % Increase $275,979 $55,471, % Increase $413,969 $55,609, % Increase $551,959 $55,747, % Increase $827,938 $56,023, % Increase $1,048,722 $56,244, % Increase $1,241,908 $56,437, % Increase $1,324,701 $56,520, % Act 1 Base Index $1,655,877 $56,851, % Act 1 ADJ CYSD Index Page 5

7 CENTRAL YORK SCHOOL DISTRICT General Fund Budget RESIDENTIAL ASSESSMENT NORTH YORK BOROUGH 44,970,482 MANCHESTER TOWNSHIP 1,185,979,325 SPRINGETTSBURY TOWNSHIP 829,195,843 NUMBER OF PARCELS: $2,060,145,650 NORTH YORK BOROUGH 631 MANCHESTER TOWNSHIP 6,773 SPRINGETTSBURY TOWNSHIP 5,034 12,438 TOTAL ASSESSMENT $2,060,145,650 DIVIDED BY # PARCELS 12,438 AVERAGE ASSESSMENT PER PARCEL $165, MILL = $ TAX INCREASE ON AVERAGE RESIDENTIAL PROPERT.1 MILL = $16.56 TAX INCREASE ON AVERAGE RESIDENTIAL PROPERT Mills = $3, Total Tax Bill on Average Residential Property Mills =$3, Total Tax Bill on Average Residential Property Millage Increase Mills = $96.07 Tax Bill increase on Average Residential Property Proposed $ Homestead Farmstead Reduction Page 6

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