William Floyd School District Budget Presentation #1

Transcription

1 William Floyd School District Budget Presentation #1

2 Overview q Budget Advisory Committee (BAC) q Budget Timeline q Different Funds in a School District q School Budget is the General Fund q State Aid q Tax Levy Cap vs. Property Tax Levy q Tax Levy Cap 2

3 Budget Advisory Committee (BAC) q Established to provide a collaborative and transparent budget development process q Open to all community residents, students and the general public q Allows members of the Board of Education (BOE) to hear issues and suggestions from you first hand q Educational forum to help everyone understand the budget, its development and its challenges Dates: February 9, 2016 March 8, 2016 March 29, 2016 April 19, 2016 Budget Adoption 3

4 Budget Timeline Nov 2015 May 17, 2016 Process Begins Budget development process begins Business Office projects all revenue and identifies budget expenses for all categories not covered by budget supervisors Business Office works internally with Administrators to arrive at proposed budget to be presented to BOE and B.A.C. By April 22, BOE must adopt proposed budget for public vote Annual Budget Vote Meet with budget supervisors to review the budget process Consistently and openly communicate with the community regarding the budget process Balance the expense and revenue sides of the budget to ensure a realistic and responsible budget 4

5 Different Funds q General Fund (A Fund) Funding commonly referred to as the school budget q Cafeteria Fund (C Fund) Funding utilized to administer cafeteria operations only q Grant Funds (F Fund) Funding allocated to the district by federal or state agencies for a specific use q Capital Fund (H Fund) Funding approved through propositions voted on by the district residents 5

6 Different Funds Cafeteria Fund (C Fund) Grant Fund (F Fund) William Floyd School District Capital Fund (H Fund) General Fund (A Fund) Only part that residents vote on annually 6

7 School Budget q The school budget is an expense based budget q It is developed around projectedrevenues and estimated expenses for the fiscal period from July 1 until June 30 of the next year q Expenses can not exceed revenues 7

8 School Budget Revenue: State Aid Tax Levy Other Income Revenues Expenses Expenses: General Support Instruction Transportation Undistributed Community Services 8

9 Tax Levy Cap vs. Property Tax Levy 9

10 Our Tax Levy Cap Calculation for 1617 Prior Year Tax Levy $ 94,947, Reserve Amount for any Excess Levy $ = $ 94,947, Tax Base Growth Factor X % = $ 95,412, Prior Year PILOT + $ = $ 95,412, Prior Year Exclusions (not TRS/ERS) a. $ b. $ Adjusted Prior Year Levy = $ 95,412, Allowable Growth Factor X % = $ 95,526, PILOTS for coming year $ = $ 95,526, Available Carryover + $ 1,449, TAX LEVY LIMIT = $ 96,976, Coming School Year Exclusions a. + $ b. + $ c. + $ d. + $ MAXIMUM ALLOWABLE LEVY = $ 96,976, Maximum Tax Levy Cap barring any Exclusion Changes Tax Levy % Increase 2.14% Estimated 10

11 Tax Levy Tax Levy % Change 12.00% 11.07% 10.00% 8.00% 6.00% % Change 4.00% 2.00% 0.00% 2.00% 2.56% 2.14% 0.85% 1.13% Final Tax Levy has not been established 11

12 Governor s Proposal State Aid January Actual Governors Proposal Difference Foundation Aid $ 80,536,229 $ 81,494,610 $ 958,381 Community Schools Aid $ $ 492,842 $ 492,842 Universal PreK $ 1,485,977 $ 1,486,267 $ 290 BOCES Aid $ 2,262,154 $ 2,371,378 $ 109,224 Public Excess High Cost Aid $ 5,634,500 $ 5,262,916 $ (371,584) Private Excess Cost Aid $ 675,896 $ 1,013,587 $ 337,691 Software Aid $ 134,281 $ 131,152 $ (3,129) Library Materials Aid $ 56,036 $ 54,750 $ (1,286) Textbook Aid $ 531,434 $ 533,893 $ 2,459 Hardware & Technology Aid $ 75,023 $ 151,236 $ 76,213 Transportation Aid (w/o Summer) $ 8,542,785 $ 10,173,253 $ 1,630,468 High Tax Aid $ 3,752,477 $ 3,752,477 $ GAP Elimination $ (836,371) $ (221,288) $ 615,083 $ 102,850,421 $ 106,697,073 $ 3,846,652 Building Aid $ 11,405,918 $ 11,484,756 $ 78,838 $ 114,256,339 $ 118,181,829 $ 3,925,490 New Item 12

13 Governor s Proposal Community Schools Aid Schools will be able to use these funds for: * community school coordinators * before and afterschool mentoring services * summer learning activites * health and dental care referrals and connections * other strategies to maximize student achievement $492,

14 Governor s Proposal with Corrections (Transportation) January Actual Governors Proposal Difference Foundation Aid $ 80,536,229 $ 81,494,610 $ 958,381 Community Schools Aid $ $ 492,842 $ 492,842 Universal PreK $ 1,485,977 $ 1,486,267 $ 290 BOCES Aid $ 2,262,154 $ 2,371,378 $ 109,224 Public Excess High Cost Aid $ 5,634,500 $ 5,262,916 $ (371,584) Private Excess Cost Aid $ 675,896 $ 1,013,587 $ 337,691 Software Aid $ 134,281 $ 131,152 $ (3,129) Library Materials Aid $ 56,036 $ 54,750 $ (1,286) Textbook Aid $ 531,434 $ 533,893 $ 2,459 Hardware & Technology Aid $ 75,023 $ 151,236 $ 76,213 Transportation Aid (w/o Summer) $ 8,542,785 $ 8,860,903 $ 318,118 High Tax Aid $ 3,752,477 $ 3,752,477 $ GAP Elimination $ (836,371) $ (221,288) $ 615,083 $ 102,850,421 $ 105,384,723 $ 2,534,302 Building Aid $ 11,405,918 $ 11,484,756 $ 78,838 $ 114,256,339 $ 116,869,479 $ 2,613,140 Reduced by $1,300,000 14

15 Change to Building Aid Payment Education Law: requires the commissioner to revise the assumed amortization schedule for remaining debt service payments for outstanding principal and interest at the end of each 10 year segment of an assumed amortization if the current interest rate is at least one quarter percent (.25) lower than the original interest rate for the assumed amortization. What does it mean? $11,462, Estimated Governor's Building Aid $681,405 Less: Retro/Prospective Bond Adjustments $10,780, Estimated New Building Aid Amount Waiver: A waiver from the interest rate reduction may be granted by the commissioner if the district can demonstrate that it is precluded by state or federal law, rule or regulation from refinancing. Waiver has been submitted and we are waiting for a decision. 15

16 Governor s Proposal with Corrections (Transportation) and Waiver being denied January Actual Governors Proposal Difference Foundation Aid $ 80,536,229 $ 81,494,610 $ 958,381 Community Schools Aid $ $ 492,842 $ 492,842 Universal PreK $ 1,485,977 $ 1,486,267 $ 290 BOCES Aid $ 2,262,154 $ 2,371,378 $ 109,224 Public Excess High Cost Aid $ 5,634,500 $ 5,262,916 $ (371,584) Private Excess Cost Aid $ 675,896 $ 1,013,587 $ 337,691 Software Aid $ 134,281 $ 131,152 $ (3,129) Library Materials Aid $ 56,036 $ 54,750 $ (1,286) Textbook Aid $ 531,434 $ 533,893 $ 2,459 Hardware & Technology Aid $ 75,023 $ 151,236 $ 76,213 Transportation Aid (w/o Summer) $ 8,542,785 $ 8,860,903 $ 318,118 High Tax Aid $ 3,752,477 $ 3,752,477 $ GAP Elimination $ (836,371) $ (221,288) $ 615,083 $ 102,850,421 $ 105,384,723 $ 2,534,302 Building Aid $ 11,405,918 $ 10,780,854 $ (625,064) $ 114,256,339 $ 116,165,577 $ 1,909,238 Reduced by Waiver Denial 16

17 Thank You q Questions q q The next BAC meeting is February 9, 2016 at 7:15 pm until 8:00 pm in the High School Library Please any questions to Budget@wfsd.k12.ny.us q The Business Office can be reached at Please Get Home Safe 17