HOLLEY CENTRAL SCHOOL DISTRICT BUDGET APRIL 16, :30 AM DISTRICT OFFICE BOARD ROOM

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1 HOLLEY CENTRAL SCHOOL DISTRICT BUDGET APRIL 16, :30 AM DISTRICT OFFICE BOARD ROOM Mr. John Carlevatti, Interim Superintendent Mrs. Sharon Zacher, Assistant Superintendent for Business

2 Appropriations Description Proposed Budget Budget Difference Budget To Budget % General Support $3,093,364 $3,091,014 $2,350 Instruction $11,757,235 $11,309,477 $447,758 Transportation $1,281,540 $1,288,335 ($6,795) Community $5,000 $5,000 $0 Undistributed $9,072,861 $8,806,174 $266,687 Total $25,210,000 $24,500,000 $710, %

3 State Aid Description State Aid per Output Report Difference Foundation Aid $10,409,155 $10,025,976 $383,179 Transportation Aid $1,609,679 $1,382,747 $226,932 Building Aid $3,082,134 $2,154,736 $927,398 Text, Tech, Lib Aid $96,050 $101,300 ($5,250) BOCES Aid $1,560,971 $1,473,254 $87,717 High Tax Aid $129,497 $129,497 $0 Excess Cost Aid $389,161 $339,611 $49,550 Total $17,276,647 $15,607,121 $1,669,526

4 Revenue Revenue Type Proposed Budget Budget Difference Property Taxes $7,108,141 $6,968,766 State Aid $16,876,647 $16,157,556 Other Revenue $305,212 $282,495 Medicaid $75,000 $50,000 Total Revenue $24,365,000 $23,458,817 Appropriated Fund Balance $845,000 $976,000 Appropriated Reserves $0 $65,183 Total Other Sources $845,000 $1,041,183 Total Revenue & Other Sources $25,210,000 $24,500,000 $710,000

5 Tax Levy Property Tax Cap 2.205% 2.00 % Tax Levy Increase Levy $6,968, Proposed Levy $7,108,141 Dollar Increase $ 139,375

6 History of Fund Balance & Reserves Projected Appropriated Fund Balance $652,524 $1,052,524 $1,358,951 $1,485,154 $1,438,151 Reserves $2,413,864 $2,413,864 $1,849,634 $1,851,550 $4,799,747 Fund Balance $980,000 $980,000 $832,088 $17,029 $1,025,945 Total $4,046,388 $4,446,388 $4,040,673 $3,353,733 $7,263,843 Difference from prior year ($400,000) $405,715 $686,940 ($3,910,110) ($2,415,796)

7 Proposition #1-Appropriation Budget Shall the Board of Education of Holley Central School District be authorized to make the expenditures of the monies set forth in the proposed budget and be authorized to levy the necessary taxes to meet the estimated expenditures set forth in said proposed budget? Annual district budget - $25,210,000

8 Proposition #2-Purchase of School Buses and Sport Utility Vehicle "Resolved that the Board of Education of Holley Central School District be authorized to purchase one 72 passenger school bus, one 22 passenger school bus and one Ford Expedition sport utility vehicle at an aggregate estimated maximum cost of $222,914, with the cost thereof to be raised by the levy of a tax upon the taxable real property of the School District, to be collected in annual installments and partially offset by state aid, and in anticipation of such tax, such debt obligations of the School District as may be necessary (including obligations in the form of lease/purchase or installment purchase contracts having a term of not more than five years), not to exceed such estimated maximum cost, shall be issued."

9 Proposition #3-Library Levy "Resolved that the Board of Education of Holley Central School District, pursuant to Section 259 of the Education Law of the State of New York, be authorized and empowered to raise the sum of $153,713 during the school year, to be used in support of the maintenance and operations of the Community Free Library, Holley, New York, said sum to be in addition to the funds to be raised to meet the estimated expenditures of the School District in the form commonly known as the school district budget."

10 Board Member Election (3) Board Member positions expire June 30, 2018 Melissa Ierlan Mark Porter Anne Winkley Petitions due by April 16 th at 5 pm.

11 Property Tax Report Card Holley Central School Contact Person: Sharon Zacher Budgeted Proposed Budget Telephone Number: ext (A) (B) Total Budgeted Amount, not Including Separate Propositions 24,500,000 25,210,000 A. Proposed Tax Levy to Support the Total Budgeted Amount 1 6,968,766 7,108,141 B. Tax Levy to Support Library Debt, if Applicable 0 0 C. Tax Levy for Non-Excludable Propositions, if Applicable D. Total Tax Cap Reserve Amount Used to Reduce Current Year Levy, if Applicable 0 0 E. Total Proposed School Year Tax Levy (A + B + C - D) 6,968,766 7,108,141 F. Permissible Exclusions to the School Tax Levy Limit 0 0 G. School Tax Levy Limit, Excluding Levy for Permissible Exclusions 3 6,968,766 7,108,141 H. Total Proposed School Year Tax Levy, Excluding Levy to Support Library Debt and/or Permissible Exclusions (E - B - F + D) 6,968,766 7,108,141 I. Difference: (G - H); (negative value requires 60.0% voter approval) Public School Enrollment False Consumer Price Index 2.13% 1. Include any prior year reserve for excess tax levy, including interest. 2. Tax levy associated with educational or transportation services propositions are not eligible for exclusion under the School Tax Levy Limit and may affect voter approval requirements. 3. For , includes any carryover from and excludes any tax levy for library debt or prior year reserve for excess tax levy, including interest. Actual Estimated (D) (E) Adjusted Restricted Fund Balance 2,413,864 2,192,988 Assigned Appropriated Fund Balance 652, ,000 Adjusted Unrestricted Fund Balance 980,000 1,008,400 Adjusted Unrestricted Fund Balance as a Percent of the Total Budget 4.00% 4.00%

12 Capital Schedule of Reserve Funds Reserve Type Reserve Name Reserve Description 3/31/18 Actual Balance 6/30/18 Estimated Ending Balance To pay the cost of any object or purpose for which bonds may be issued. Intended Use of the Reserve in the School Year Repair Reserve for Repairs To pay the cost of repairs to capital improvements or equipment. $275,049 $275,049 Workers Compensation Unemployment Insurance Reserve for Tax Reduction Mandatory Reserve for Debt Service Workers' Compensation Reserve Reserve for Unemployment To pay for Workers Compensation and benefits. $242,640 $242,640 To pay the cost of reimbursement to the State Unemployment Insurance Fund. $711,697 $711,697 For the gradual use of the proceeds of the sale of school district real property. To cover debt service payments on outstanding obligations (bonds, BANS) after the sale of district capital assets or improvements. Insurance Insurance Reserve To pay liability, casualty, and other types of uninsured losses. $247,962 $247,962 Property Loss Liability To establish and maintain a program of reserves to cover property loss. To establish and maintain a program of reserves to cover liability claims incurred. Tax Certiorari Tax Certiorari Reserve To establish a reserve fund for tax certiorari settlements $6,799 $6,799 Reserve for Insurance Recoveries Employee Benefit Accrued Liability Retirement Contribution Reserve for Uncollected Taxes Other Reserve Reserve for Employee Benefits (EBLAR) To account for unexpended proceeds of insurance recoveries at the fiscal year end. For the payment of accrued employee benefits due to employees upon termination of service. $929,717 $929,717 To fund employer retirement contributions to the State and Local Employees Retirement System For unpaid taxes due certain city school districts not reimbursed by their city/county until the following fiscal year.

13 Budget (Annual) Hearing May 1, :00 p.m. District Office Board Room

14 Budget Vote Information Tuesday, May 15, a.m. 9 p.m. High School Foyer

15 Reminder if budget is defeated Three options: Board can adopt a contingent budget without going back to voters Board may present one additional revised budget to the community through a special meeting on June 19, 2018 If the vote defeats a second time, the board must adopt a contingent budget with no increase in tax levy over the prior year s levy.