BUDGET: REVENUES/REVIEW. Huntington U.F.S.D. Board of Education Meeting Monday, March 31, 2014

Transcription

1 : REVENUES/REVIEW Huntington U.F.S.D. Board of Education Meeting Monday, March 31, 2014

2 State/Legislative Budget Highlights Increased aid to schools: $1.1 billion increase in aid (5.4%) Includes additional $267 million in expense-based aids, $250 million in foundation aid and $600 million in GEA restoration (70% to high need districts) Additional funding for pre-k programs Total $340 million ($300 million to NYC; $40 million to others) Additional performance grants $50 million

3 State/Legislative Budget Highlights (cont.) Property Tax Freeze/Credit: Districts must not exceed the tax levy limit for for residents to be eligible. For , districts must not exceed the levy limit and submit a plan demonstrating an aggregate 1% savings per year (total 3% by ); districts may submit individually or plan may be coordinated by BOCES; actions taken in prior years may be applicable. Homeowners must be eligible for STAR, with household income below $500 K. Taxpayers will receive a check for greater of 1) the amount their school tax increases over 2013 or 2) the tax levy limit increase. Includes implementation of a property tax circuit breaker.

4 State/Legislative Budget Highlights (cont.) Other Provisions: $2 billion for Smart Schools Bond Act (Huntington allocation = $1,407,121); must be approved in November. $10 million for teacher excellence program. Charter school protections (NYC) space/building aid/increased payments. Building aid interest recalculation delayed for one additional year. Educational standards for statewide universal pre-k programs, including tougher teacher certification standards. Private school education investment tax credits are NOT in the legislation.

5 State/Legislative Budget Highlights (cont.) Other Provisions Common Core (CC): Prohibits results of state grade 3-8 CC assessments from being recorded on student records for five testing cycles ( ). Prohibits use of grade 3-8 CC assessments as sole measure for promotion or placement purposes. Prohibits standardized testing of pre-k through grade 2 students (except for diagnostic purposes). Mandates alternative testing measures for special education students and English language learners. Limits time allowed to be spent on testing. Expedites SED review of APPR plans that make changes designed to reduce testing. Directs the Commissioner to use federal funds to reduce field testing time and to release significantly more test questions to parents and teachers. Directs the Commissioner to increase outreach to parents and provide more instructional materials and training to teachers and principals.

6 State/Legislative Budget Highlights (cont.) Other Provisions Student Data Privacy Prohibits state data transfer to InBloom or any similar provider. Allows districts to opt-out of using state data dashboards; no parent opt-out provision. Provides for data collection at the BOCES level. Creates state Chief Privacy Officer. Establishes tougher penalties for unauthorized disclosure of data.

7 REVENUE SOURCES State Aid Tuition from Other Districts Health Fees Building Use Fees Interest Income Summer School Tuition Driver Education Adult Education Miscellaneous Inter-fund Transfers Applied Fund Balance/Reserves

8 STATE AID AID CATEGORY ACTUAL EXEC BUDG LEG BUDG $ Change % Change Foundation $8,138,824 $8, $8,399,862 $261, % Transportation $2,657,725 $2,801,632 $2,801,632 $143, % BOCES $1,014,691 $1,305,496 $1,305,496 $290, % High Cost/Excess Cost $805,902 $802,721 $802,792 ($3,110) (0.39%) Hardware & Technology $15,970 $16,830 $16,811 $ % Software/Library/Textbook $439,308 $438,318 $438,074 ($1,234) (0.28%) High Tax $442,003 $442,003 $442,003 $0 0.00% Gap Elimination Adjustment ($2,128,267) ($2,033,861) ($1,827,543) $300, % Building Aid $450,722 $497,404 $502,480 $51, % Local Share Deduct ($319,625) ($319,625) ($319,625) $0 0.00% TOTAL $11,517,253 $12,089,742 $12,561,982 $1,044, %

9 State Aid $ Change % Change $11,972,315 $12,561,982 $589, % NOTE: HUFSD aid increase from Executive to Legislative budget = $472,240

10 State Aid & Huntington Huntington Combined Wealth Ratio = (expected to increase to for 14-15) Ranks #3 out of 18 school districts in Western Suffolk (Cold Spring Harbor, Northport, ). Free/Reduced Lunch %: CSH = 0%, Northport = 5%, Huntington = 40% HUFSD s share of State Aid funds approximately 10% of its budget. District with similar size budget and a 0.71 CWR ratio receives more than three times the state aid.

11 TUITION FROM OTHER DISTRICTS/NYS Special education services provided to nonresident students attending private and parochial schools within the Huntington School District Students home districts are billed each year NYS reimburses school districts for students attending 4410 schools (e.g., Cleary, Mill Neck)

12 Tuition from Other Districts $ Change % Change $520,000 $520,000 $0 0.00%

13 HEALTH FEES Health services provided to non-resident students attending private and parochial schools within the Huntington School District. Students home districts are billed each year.

14 Health Fees $ Change % Change $120,000 $120,000 $0 0.00%

15 BUILDING USE FEES Usage fees paid by outside groups as per Boardapproved schedule Auditoriums Fields Gymnasiums Classrooms Custodial/Security fees paid by outside groups

16 Building Use Fees $ Change % Change $100,000 $100,000 $0 0.00%

17 INTEREST INCOME Interest earnings of general fund deposits: Invested money market products Checking account interest Certificates of deposit

18 Interest Income $ Change % Change $110,000 $110,000 $0 0.00%

19 SUMMER SCHOOL TUITION Fees paid to attend Summer School program

20 Summer School Tuition $ Change % Change $15,000 $15,000 $0 0.00%

21 DRIVER EDUCATION Student participation fees

22 Driver Education $ Change % Change $75,000 $80,000 $5, %

23 ADULT EDUCATION Course and program fees

24 Adult Education $ Change % Change $26,000 $30,000 $4, %

25 MISCELLANEOUS Payments in lieu of taxes (PILOTs) Individual charges lost textbooks, uniforms, etc. e-rate funding Prior year refund BOCES Gifts and donations NOTE: Medicare Part D reimbursement no longer available in

26 Miscellaneous $ Change % Change $488,113 $524,374 $36, %

27 INTER-FUND TRANSFERS Movement of money from reserve fund to the general fund

28 Inter-fund Transfers $ Change % Change $290,000 $290,000 $0 0.00%

29 APPLIED FUND BALANCE Portion of prior year s surplus used each year to reduce tax levy

30 RESERVES Separate accounts established to finance specific district expenses

31 Fund/Reserve Balances (6/30/13) FUND/RESERVE BALANCE Unappropriated Fund Balance $4,588,183 Appropriated Fund Balance $2,180,953 Capital $6,959,159 Workers Compensation $3,352,305 Retirement Contribution Reserve (ERS) $3,172,839 Employee Benefits and Accrued Liability (EBALR) $1,666,587 Unemployment Insurance $317,104 Repair $201,889

32 HISTORICAL & PROJECTED FUND/RESERVE BALANCES Beginning Fund/Reserve Balance Appropriated Fund Balance Used (est.) $12,343,937 $15,241,376 $16,031,301 $18,538,363 $22,439,017 $1,915,000 $2,245,000 $2,127,376 $2,180,953 $2,049,074 Deposits $4,812,439 $3,034,925 $4,634,438 $6,081,607 $3,670,000 Ending Fund/Reserve Balance (6/30) $15,241,376 $16,031,301 $18,538,363 $22,439,017 $24,059,943 Net Change $2,897,439 $789,925 $2,507,062 $3,900,654 $1,620,926

33 REVENUE SUMMARY State Aid $11,972,315 $12,561,982 Tuition from Other Districts $520,000 $520,000 Health Fees $120,000 $120,000 Building Use Fees $100,000 $100,000 Interest Income $110,000 $110,000 Summer School Tuition $15,000 $15,000 Driver Education $75,000 $80,000 Adult Education $26,000 $30,000 Miscellaneous Income $488,113 $524,374 Inter-fund Transfers $290,000 $590,000 Applied Fund Balance $2,180,953 $2,049,074 Reserve Use $0 $800,000 TOTAL $15,897,381 $17,200,430 Difference from $1,303,049

34 WORKING ANALYSIS (from last meeting) WORKING TAX LEVY LIMIT $114,707,235 $117,614,370 $117,328,768 REVENUE (includes state aid, fund balance, reserves, other) 15,897,381 16,914,828 16,914,828 TAX LEVY 98,809, ,699, ,413,940 ASSESSED VALUATION 44,943,315 44,643,315 44,643,315 TAX LEVY INCREASE (%) 1.91% 1.62% -TO- INCREASE (%) 2.53% 2.29% TAX RATE ($ PER $100 ASSESSMENT) TAX RATE INCREASE (%) 2.60% 2.31% WORKING DIFFERENCE ($) ($285,602)

35 CURRENT WORKING ANALYSIS WORKING TAX LEVY LIMIT $114,707,235 $117,614,370 $117,614,370 REVENUE (includes state aid, fund balance, reserves, other) 15,897,381 17,200,430 17,200,430 TAX LEVY 98,809, ,413, ,413,940 ASSESSED VALUATION 44,943,315 44,643,315 44,643,315 TAX LEVY INCREASE (%) 1.62% 1.62% -TO- INCREASE (%) 2.53% 2.53% TAX RATE ($ PER $100 ASSESSMENT) TAX RATE INCREASE (%) 2.31% 2.31% WORKING DIFFERENCE ($) $0

36 CONTINGENCY Incorporates the same tax levy as adopted for (0% levy increase) Required budget reduction: $1,604,086 Includes: Equipment - $427,740 Remaining budget reduction: $1,176,346

37 CONTINGENCY WORKING CONTINGENCY $114,707,235 $117,614,370 $116,010,284 REVENUE (includes state aid, fund balance, reserves, other) 15,897,381 17,200,430 17,200,430 TAX LEVY 98,809, ,413,940 98,809,854 ASSESSED VALUATION 44,943,315 44,643,315 44,643,315 TAX LEVY INCREASE (%) 1.62% 0.00% -TO- INCREASE (%) 2.53% 1.14% TAX RATE ($ PER $100 ASSESSMENT) TAX RATE INCREASE (%) 2.31% 0.67% CONTINGENCY/WORKING DIFFERENCE ($) ($1,604,086)

38 UPCOMING SESSIONS Monday, 4/7: Budget Adoption Monday, 5/12: Budget Hearing Tuesday, 5/20: Budget Vote/Election

39 BALLOT PROPOSITIONS ON 5/20 PROPOSITION #1: Budget PROPOSITION #2: Capital Reserve Voters must approve release of monies already situated in the district s capital reserve fund for completion of state-approved projects NO impact on tax levy or tax rate If not approved, monies remain in capital reserve fund and cannot be used for any other purpose