District Budget Proposal Budget Information Update March 25, 2013

Transcription

1 District Budget Proposal Budget Information Update March 25, 2013

2 Base Formula Prior Fiscal Year Tax Levy $ 6,997,715 x Tax base growth factor minimum of 1.0*. sub total $ 7,041,801 Add: PILOTs receivable $ 122,910 $ 7,164,711 Less: Capital Tax Levy (Local Share) $ 340,604 $ 6,824,107 x Allowable levy growth factor 1.02Actual from ORPTS sub total $ 6,960,589 Less: PILOTs receivable in $ 122,910 Tax Levy Limit $ 6,837,679

3 Add: Exclusions Tax Levy Limit $ 6,837,679 Add: Levy for increases in TRS contribution over 2% - Add: Levy for increases in ERS contribution over 2% $ Add: Capital Tax Levy (Local Share) $ 381,690 Tax Levy Limit, Adjusted for Transfers Plus Exclusions $ 7,219, % Increase in levy $ 221, %

4 Dollar Change Percent Change Real Property & Other Tax Items (includes STAR) 7,158,494 7,357, , % Charges for Services 109, , % State Aid 10,275,265 10,321,845 46,580.45% Federal Aid 125, , % Other (includes Sale of Property, Misc.) 477, ,400 (132,273) (27.69)% Interfund Transfers (includes Appropriated F/B) 1,245, ,000 (645,942) (51.84)% Total Revenues and Other Sources 19,391,774 18,858,924 (532,850) (2.75)%

5 Itinerant Speech Improvement (.7 FTE) $72,584 Tax Collection/Fixed Assets 3,000 2 Elementary Teachers (with benefits) $134,739 (Elementary high enrollment/math Support) Total additions to budget proposed $210,323

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7 CST HCP NY44 Savings Actives $ 2,119,734 $ 1,522,525 $ 597,209 Retirees $ 1,105,286 $ 1,067,164 $ 38,122 Total Savings $ 3,225,019 $ 2,589,689 $ 635,331 Additional health care savings may be recognized by retirees taking MVP Medicare Advantage Plan. Annual savings per person is $3408. District could recognize additional savings of approximately $390,000 if 101 individuals moved to MVP.

8 Budget Area Adopted Budget Projected Budget Dollar Change Percent Change General Support 2,788,479 2,779,663 8,816 (.32%) Instruction 9,243,725 9,564, , % Pupil Transportation 467, ,494 6, % Employee Benefits 3,954,760 4,153, , % Debt Service 2,886,684 2,903,369 16,585.57% Inter-fund Transfers 50,620 65,620 15, % Total General Fund 19,391,774 19,941, , %

9 Projected Budget Increase/Decrease $ Increase/Decrease % Projected General Fund Budget $19,941,300 $549, % Projected Revenues (based on tentative tax cap calculation with 3.17% tax levy increase) $18,858,924 ($532,850) (2.75%) Projected Shortfall $1,082,376

10 Calculated Shortfall $1,082,376 Reserves to allocate Workers Compensation $85,000 Unemployment $25,000 Employees Retirement $165,000 ($275,000) Adjusted Shortfall $807,376

11 Reserves Balance 7/1/2013 Applied to Budget Remaining Reserve Workers Compensation 171,783 (85,000) 86,783 Unemployment Reserve 199,799 (25,000) 174,799 Retirement System Contributions (ERS) 736,352 (165,000) 571,352 Tax Certiorari Reserve 201, ,819 Employee Benefits Accrued Liability Reserve 241, ,018 Capital Reserve 806, ,992 Reserve for Repairs 203, ,661 Total Reserves 2,561,424 (275,000) 2,286,424

12 Adjust Shortfall after reserves applied $807,376 1% on tax levy = $69,977 Tax Levy increase needed above tax cap $807,376 / $69,977 = 11.53% Tax cap 3.17% Total tax increase needed 14.70%

13 The chart below estimates the possible tax increases on a property with a value of $100,000 with a 14.70% tax levy increase THIS CHART DOES NOT TAKE INTO ACCOUNT ANY CHANGES IN YOUR TOWN EQUALIZATION RATES AND ASSESSMENTS Actual Proposed Budget Property Value $100,000 Tax rate per $1000 of assessed value $22.23 $25.50 Average School Tax Bill * $2,223 $2,550 Annual $ tax increase (before STAR) $327 Monthly $ tax increase (before STAR) $27.25 Basic STAR Exemption ** $656 $669 Average tax due after STAR $1,567 $1,881 Annual $ tax increase (after STAR) $314 Monthly $ tax increase (after STAR) $26.17

14 Home & Careers reduce to.75 FTE $ 16,102 Technology reduce to.75 FTE $ 19,008 Business Teacher Eliminate position $ 69,268 LPN Eliminate position $ 41,394 Foreign Language reduce to.5 FTE $ 27,149 Teacher Aide (1) Eliminate position $ 12,410 Teaching Assistant (1) Eliminate position $ 15,504 Modified Athletics $ 24,991 Reading Teacher Eliminate 1 position $ 21,746 Clerical Position Eliminate position $ 57,831 Teacher Aide (1) Eliminate position $ 29,900

15 Teaching Assistant (1) Eliminate position $ 23,299 Music Teacher Eliminate position $ 75,989 All Athletics Eliminate remaining $ 197,230 MS Eliminate position/additional stipends (8 hour day; 11 months) $ 9,330 Elementary PE Eliminate position $ 66,805 Art Eliminate position $ 61,105 Library/Media Eliminate position $ 64,523 Teacher Aide (1) Eliminate position $ 30,189 Reading Teachers Eliminate 3 positions $ 228,863 Kindergarten Eliminate 2 positions $ 109,169 Total New Cuts $ 1,201,805

16 Possible Additional Cuts Not Prioritized Elementary PE Eliminate position $ 61,628 Kindergarten Eliminate 2 positions $ 124,337 Eliminate 1 Social studies & share MS with HS Eliminate position $ 52,685 Possible Additional Cuts $ 238,650

17 Trend to hold voting off school premises due to safety concerns If so what are alternatives locations to consider?

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