Budget Adoption April 19, 2016 Board of Education Meeting

Transcription

1 April 19, 2016 Board of Education Meeting

2 At a glance.. Total: $48,365,409 Budget Increase (over current year): $362,985 or.76% Tax Levy Increase (over current year): $555,480 or 2.21% Tax Levy Limit or Cap : 2.21% Because Mohonasen is proposing to raise the taxy within the calculated limit, a simple majority (50 percent + 1) is required for budget approval. 1

3 Staffing Increases for FTE Bradt Instructional 4 FTE Pinewood (includes reduction of 1 FTE at Draper) 3 FTE Teacher Assistants 1 FTE Special Education Teacher 1 FTE Technology Teacher 1 FTE Administration.5 FTE TBD SPED, Library, Music Non-Instructional 2.3 FTE Clerical 2 FTE Cleaner 2 FTE Monitor 1 FTE Computer Technician 1 FTE Health Office Assistant 2

4 Projected Average Class Size for Grade Level Current Enrollment (15-16) # of Sections (15-16) Average Class Size (15-16) Projected Enrollment (16-17) # of Sections (16-17) Average Class Size (16-17) K Class sizes in grades 7-12 will vary depending on class/subject area. 3

5 Projected Expenditures Budget Projected Budget as of 4/4/16 $ Change Instruction $25,592,532 $26,327,170 $734,638 Employee Benefits Operations& Maintenance $11,284,900 $11,294,000 $9,100 $2,431,590 $2,692,394 $260,804 Transportation $2,254,431 $2,357,490 $103,059 District Support $1,890,753 $1,929,752 $38,999 Debt Service $4,548,218 $3,764,603 ($783,615) Total $48,002,424 $48,365,409 $362,985 4

6 Projected Revenues Projected Budget (as of 4/4/16) $ Change State Aid $20,562,454 $19,889,459 ($672,995) Property Tax Levy $25,189,220 $25,744,700 $555,480 Fund Balance Appropriation $1,075,000 $1,075,000 $0 Reserve Appropriation $600,000 $600,000 $0 BOCES Rental $250,000 $436,000 $186,000 Interfund Transfer $0 $200,000 $200,000 Other Revenue (Interest, Fees, Cont. Ed., Admissions, Bldg. Use) $325,750 $420,250 $94,500 Total $48,002,424 $48,365,409 $362,985 5

7 PROJECTED Mohonasen Tax Levy Limit Calculation Prior year tax levy $25,189,220 Tax base growth factor (if any)* X Payments in lieu of taxes (PILOTs) receivable during prior year + $0 Taxes levied for exemptions during prior year (not ERS & TRS) - $377,888 Adjusted Prior Year Tax Levy = $24,962,467 Allowable levy growth factor (lesser of 2% or CPI) X Payments in lieu of taxes (PILOTs) receivable in coming year - 0 Available carryover (if any) + 0 Tax Levy Limit = $24,992,422 Coming School Year Exclusions + $752,278 Maximum Allowable Tax Levy (requiring simple majority approval of more than 50% of voters) = $25,744,700 Maximum allowable tax levy increase (percentage) 2.21% *provided by NYS Tax & Finance Dept. 4/19/2016 6

8 Assessed Value vs. Full Value Estimated Tax Impact Town Assessed Value Equalization Rate Full Value/Market Value Current Tax Rate (per $1,000 of assessed value) Total Current Taxes Tax Rate with 2.21% Tax Levy Rotterdam $150, % $150,000 $17.25 $2,590 $17.53 $.38 increase Guilderland $132,000 88% $150,000 $19.60 $2,590 $20.03 $.43 increase Colonie $101, % $150,000 $25.55 $2,590 $26.11 $.56 increase Total Taxes with 2.21% Tax Levy $2,647 $57 increase $2,647 $57 increase $2,647 $57 increase 4/19/ Budget Update

9 Tax Rebates Potential rebate of $185 Rebate checks projected to be mailed by October 31 st Criteria Need to be receiving STAR exemption Household income of less than $200,000 District must be tax cap compliant Rebate can not be greater than tax bill 8

10 Pupil Transportation PROPOSED Bus Purchase Requests 5 - Full size 66 passenger buses Proposition Amount = $560,000 Less State Share of Trans. Aid 68.4% = ($383,040) Est. Budget Impact District Share over 5 years = $176,960 (approx. $35,392 per year) No impact to budget - Debt/bond payments and state aid payments begin school year following a bus purchase, in this case Would increase current bus payment by approximately $10,000. 9

11 Contingent Budget Rules What happens if the budget is rejected by voters? If the proposed budget is not approved by the voters, the district may resubmit the original budget or submit a revised budget to the voters on the third Tuesday in June OR adopt a contingency budget that levies a tax no greater than that of the prior year (0% increase in the tax levy). If the resubmitted/revised budget proposal is NOT approved by the required margin, the Board MUST adopt a budget that levies a tax no greater than that of the prior year (0% increase in the tax levy) AND the budget would be subject to contingent budget requirements. Under a Contingency Budget, some items would need to be cut from the budget to meet the law with respect to definition of contingency appropriations. Cuts would be to student supplies, community use of buildings and grounds, certain equipment purchases and salary increases. 10

12 Questions and Discussion 11

13 Next Steps May 9, 2016: Budget Hearing & Meet the Candidates Night 6 p.m./hs LGI Four (4) Candidates for two (2) seats, three (3) year terms May 17, 2016: Annual Budget Vote & BOE Election 7 a.m.-9 p.m./hs Gym Voter Eligibility You are eligible to vote if you are a US Citizen, 18 years old and a resident of the district for at least 30 days prior to the vote Absentee Ballots Available to residents who are unable to vote in person because they will be out of town on May 17 th, or because of illness or disability. Ballots are available in the District Office. 12