Monday, April 28, 2014 Dr. Harold Sarver Memorial Library at HMS -7:00 p.m. Special Meeting

Transcription

1 Hampton Township School District 4591 School Drive Allison Park, PA Monday, April 28, 2014 Dr. Harold Sarver Memorial Library at HMS -7:00 p.m. Special Meeting SPECIAL MEETING The Board of Directors of the Hampton Township School District welcomes comments from visitors, who are invited to address the Board at the beginning of the meeting. Speakers are asked to limit their comments to three to five minutes and if multiple speakers are addressing the same topic, we ask that you limit your collective remarks to 15 to 20 minutes. The Board will not discuss personnel matters in public. The Board holds a regularly scheduled work session for the purpose of examining proposals and recommendations made by the staff, public, legal counsel, consultants, or the Board. This process ensures a thorough review of all items before they are placed on the voting agenda. The public is encouraged to attend the Board Work Session. Thank you. Does anyone wish to address the Board at this time? VOTING AGENDA 1. Call to Order 7:00 p.m. Pledge of Allegiance 2. Roll Call 3. It is recommended and I move that the Board approves a change in status for Dr. Marguerite Imbarlina, from an Assistant High School Principal to the Principal at Hampton High School, at a salary TBD, effective July 1, Discussion: Action: Moved: Second: Aye: Nay: 4. Adjournment WORK SESSION - BUDGET AGENDA 1. Finance... Larry Vasko, Chair

2 HAMPTON TOWNSHIP SCHOOL DISTRICT APRIL 28, 2014 BUDGET WORK SESSION 7:00P.M. HAMPTON MIDDLE SCHOOL DR. HAROLD SARVER LIBRARY BUDGET WORK SESSION AGENDA TOPIC PRESENTER 1) *Enrollment Projections/Staffing Dr. Hoover/Mr. Finch 2) *June 30, 2014 Fund Balance Projection Dr. Hoover/Mr. Kline a) *Discussion of Transfer to Capital Projects Fund for Dr. Hoover /Mr. Kline Capital Reserve Items and/or High School Project 3) * Proposed Final Budget #2 Dr. Hoover/Mr. Kline Informational Item: *Allegheny County School District Millage Rates 5 Year History NOTE: It will be necessary for the Board to consider the approval of the Proposed Final Budget at the May 5, 2014 Work Session rather than at the Voting Meeting on May 12, According to state guidelines, there must be thirty (30) days between the approval of the Proposed Final Budget and the Final Budget. There are only twenty eight (28) days from the May 12, 2014 Voting Meeting to the June 9, 2014 Voting Meeting. *attachments

3 4/28/2014 HAMPTON TOWNSHIP SCHOOL DISTRICT ESTIMATED ENDING FUND BALANCE AS OF JUNE 30, 2014 Fund Balance Summary: Budget Variance Favorable Description Budget Projected (Unfavorable) Beginning Unassigned Fund Balance (7/1/2013): 3,579,652 3,579,652 - * Add Projected Revenues Over (Under) Expenditures: (418,000) 163, ,681 ** Add: PSERS Stabilization Funds for : 418, ,000 - Projected Ending Unassigned Fund 6/30/2014: 3,579,652 4,161, ,681 *** Ending Unassigned Fund Balance as a % of 2014/2015 Budget: 9.09% Amount of Unassigned Fund Balance exceeding 8% of 14/15 Budget: 498,258 * - Detail of Revenues and Expenditures on Pages 2-5 ** - The PSERS Stabilization funds are appropriated from the District's committed fund balance; therefore at the end of the fiscal year, they will revert to the unassigned fund balance (unless a change is made to the PSERS Stabilization Fund or the surplus is designated for another purpose) *** - State Section 688 Guidelines state that the budgeted ending fund balance can not exceed 8% of the following year's budget if the District desires to increase the millage rate Unreserved Fund Balance History: Unreserved % of Following Year ending: Fund Balance $ Years Budget June 30, ,579, % June 30, ,738, % June 30, ,326, % June 30, ,022, % June 30, ,015, % June 30, ,195, % June 30, ,873, % June 30, ,783, % June 30, ,647, % June 30, ,230, % 1

4 4/28/2014 HAMPTON TOWNSHIP SCHOOL DISTRICT ESTIMATED ENDING FUND BALANCE AS OF JUNE 30, 2014 Fund Balance Summary: Budget Variance Favorable Description Budget Projected (Unfavorable) REVENUES LOCAL REVENUES Real Estate Tax 26,161,393 26,400, ,607 Other Taxes 5,101,500 4,891,713 (209,787) Other Local Revenues 530, ,041 (102,959) Total Local Revenues 31,792,893 31,718,754 (74,139) STATE REVENUES Basic Subsidies 4,723,267 4,751,103 27,836 Special Education 1,440,427 1,448,222 7,795 Other State Subsidies 5,136,149 5,167,264 31,115 Total State Revenues 11,299,843 11,366,589 66,746 FEDERAL REVENUES Title II & Title V 155, ,000 (10,000) Other Federal Revenues 240, ,000 (115,000) Total Federal Revenues 395, ,000 (125,000) OTHER FUNDING SOURCES Sale of Fixed Assets 4,000 7,820 3,820 Total Other Funding Sources 4,000 7,820 3,820 Total Revenues 43,491,736 43,363,163 (128,573) EXPENDITURES INSTRUCTIONAL PROGRAMS Regular Programs Salaries & Employee Benefits 18,607,557 18,592,980 14,577 Other 1,410,006 1,362,975 47,031 Total 20,017,563 19,955,954 61,609 Special Programs Salaries & Employee Benefits 2,856,321 2,750, ,923 Other 589, ,792 (7,755) Total 3,445,358 3,347,190 98,168 2

5 4/28/2014 HAMPTON TOWNSHIP SCHOOL DISTRICT ESTIMATED ENDING FUND BALANCE AS OF JUNE 30, 2014 Fund Balance Summary: Budget Variance Favorable Description Budget Projected (Unfavorable) Vocational Programs Salaries & Employee Benefits - - Other 566, ,420 - Total 566, ,420 - Other Instructional Programs Salaries & Employee Benefits 22,080 22,380 (300) Other 50,000-50,000 Total 72,080 22,380 49,700 TOTAL INSTRUCTIONAL 24,101,421 23,891, ,476 SUPPORT SERVICES Pupil Personnal Salaries & Employee Benefits 1,199,492 1,072, ,447 Other 22,495 62,381 (39,886) Total 1,221,987 1,134,426 87,561 Instructional Services Salaries & Employee Benefits 888, ,654 (40,355) Other 169, ,672 6,401 Total 1,057,372 1,091,326 (33,954) Administration Salaries & Employee Benefits 2,600,554 2,508,698 91,856 Other 577, ,850 34,052 Total 3,178,456 3,052, ,908 Health Services Salaries & Employee Benefits 479, ,396 19,589 Other 20,490 14,102 6,388 Total 500, ,498 25,977 Business Services Salaries & Employee Benefits 347, ,134 3,120 3

6 4/28/2014 HAMPTON TOWNSHIP SCHOOL DISTRICT ESTIMATED ENDING FUND BALANCE AS OF JUNE 30, 2014 Fund Balance Summary: Budget Variance Favorable Description Budget Projected (Unfavorable) Other 30,900 25,797 5,103 Total 378, ,931 8,223 Plant Operation & Maintenance Salaries & Employee Benefits 2,533,582 2,539,308 (5,726) Other 1,480,608 1,429,528 51,080 Total 4,014,190 3,968,835 45,355 Transportation Salaries & Employee Benefits 33,059 29,670 3,389 Other 2,140,367 2,107,260 33,107 Total 2,173,426 2,136,930 36,496 Central Services Salaries & Employee Benefits 486, ,392 3,867 Other 228, ,377 3,394 Total 715, ,768 7,262 Other Services Salaries & Employee Benefits Other 47,528 47,654 (126) Total 47,528 47,654 (126) TOTAL SUPPORT SERVICES 13,286,618 12,983, ,700 NON INSTRUCTIONAL SERVICES Student Activities Salaries & Employee Benefits 791, ,434 43,867 Other 366, ,109 (9,472) Total 1,157,938 1,123,543 34,395 TOTAL NON INSTRUCTIONAL 1,157,938 1,123,543 34,395 OTHER FINANCING USES Debt Service & Fund Transfers Salaries & Employee Benefits

7 4/28/2014 HAMPTON TOWNSHIP SCHOOL DISTRICT ESTIMATED ENDING FUND BALANCE AS OF JUNE 30, 2014 Fund Balance Summary: Budget Variance Favorable Description Budget Projected (Unfavorable) Other 5,363,759 5,200, ,683 Total 5,363,759 5,200, ,683 TOTAL OTHER FINANCING USES 5,363,759 5,200, ,683 TOTAL EXPENDITURES 43,909,736 43,199, ,254 Revenues Over (Under) Expenditures (418,000) 163, ,681 5

8 HAMPTON TOWNSHIP SCHOOL DISTRICT 4/28/2014 PROJECTED BUDGET WITH / WITHOUT TAX INCREASE IN BUDGET Projection #1 Projection #2 Projection #3 Projection #4 Projection #5 Projection #6 Tax Increase of Tax Increase of Tax Increase of Tax Increase of No Tax Increase No Tax Increase 0.33 mills to balance 0.33 mills to balance 0.33 mills to balance 0.33 mills to balance to Budget to Budget Budget with Budget with Budget with Budget with $7.5 million with $7.5 million $6.5 million bond issue $6.5 million bond issue $7.5 million bond issue $7.5 million bond issue bond issue bond issue Description "wrapped" debt service level debt service "wrapped" debt service level debt service "wrapped" debt service level debt service Projected Revenues: 46,190,000 46,190,000 46,190,000 46,190,000 45,690,000 45,690,000 Projected Expenditures (without HS debt): (47,650,000) (47,650,000) (47,650,000) (47,650,000) (47,650,000) (47,650,000) Debt Payment for HS $7.5 million (280,000) (455,000) (320,000) (530,000) (320,000) (530,000) Gross Shortfall: (1,740,000) (1,915,000) (1,780,000) (1,990,000) (2,280,000) (2,490,000) PSERS Stabilization Fund allocation: 722, , , , , ,000 Net Shortfall: (1,018,000) (1,193,000) (1,058,000) (1,268,000) (1,558,000) (1,768,000) Millage Equivalent of Shortfall % Millage Rate Increase 3.73% 4.37% 3.90% 4.67% 5.85% 6.63% Projected Act 1 Index 2.75% 2.75% 2.75% 2.75% 2.75% 2.75% Additional Funds "above" Act 1 Index to balance budget 271, , , , ,000 1,035,000 Projected Allowable PSERS Exception 412, , , , , ,000 Can Budget be balanced with Act 1 Increase + the PSERS exception? Yes Likely Yes Likely Unlikely Unlikely Options #1 and #2 assume a balanced budget and a transfer of $1,000,000 to the capital projects fund to reduce the debt issuance for the potential high school project. (bond issue of $6.5 million) Options #3 and #4 assume a balanced budget without the transfer to the capital projects fund (bond issue of $7.5 million) Options #5 and #6 assume the utilization of unassigned fund balance (forgoing a tax increase) to balance the budget and a bond issue of $7.5 million.

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45 Allegheny County School Districts 5 Year Millage Rate History School District Name McKeesport Chartiers Valley Montour Quaker Valley North Hills South Allegheny North Allegheny Duquesne Hampton Township School District Avonworth West Jefferson Hills Moon Area Fox Chapel West Allegheny Gateway Keystone Oaks Plum Carlynton Pine Richland Baldwin-Whitehall Allegheny Valley West Mifflin Elizabeth Forward Shaler Riverview Steel Valley Upper St. Clair Woodland Hills South Park Bethel Park Deer Lakes Mt. Lebanon Cornell Sto - Rox Penn Hills Northgate Highlands South Fayette Brentwood Clairton East Allegheny Wilkinsburg County Wide Average Hampton Township Schools Millage Difference - Favorable (Unfavorable) Difference % - Favorable (Unfavorable) 14.54% 10.89% 9.77% 10.56% 8.01% Hampton Millage Ranking (1 = lowest)