2020-2021 Preliminary Budget Meeting of the Abington School District Board of Directors January 21, 2020
Abington School District 2020-2021 Proposed Preliminary Budget Index 2.6%, 32.59 Mills Proposed Budget Revenue & Percent Preliminary Budget 2019-2020 Expense Changes Change 2020-2021 FUND BALANCE Committed Fund Balance (Audited) $ 42,810,865 Committed Fund Balance (Estimated) $ 32,732,184 REVENUE Local Real Estate Taxes $ 110,736,778 $ 2,710,241 $ 113,447,019 2.45% State Property Tax Reductions $ (5,431,997) $ 22,509 $ (5,409,488) -0.41% Earned Income Taxes $ 7,200,000 $ - $ 7,200,000 0.00% Other Local Revenue $ 5,141,042 $ 53,000 $ 5,194,042 1.03% $ - $ - $ - Other Financing Sources Sub-total Local Revenue $ 117,645,823 $ 2,785,750 $ 120,431,573 2.37% State $ 30,790,655 $ 1,379,934 $ 32,170,589 4.48% Property Tax Relief - Gaming Distribution $ 3,225,659 $ - $ 3,225,659 0.00% $ 2,206,338 $ (22,509) $ 2,183,829 Property Tax Relief - Sterling Act Reimbursements -1.02% Sub-total State Revenue $ 36,222,652 $ 1,357,425 $ 37,580,077 3.75% $ 1,753,941 $ 3,231 $ 1,757,172 Federal 0.18% Sub-total Revenue $ 155,622,416 $ 4,146,406 $ 159,768,822 2.66% $ 8,448,069 $ 3,719,159 $ 12,167,228 Allocated Fund Balance 44.02% TOTAL REVENUE & FUND BALANCE $ 164,070,485 $ 7,865,565 $ 171,936,050 4.79% EXPENSES Salaries $ 84,730,274 $ 4,158,801 $ 88,889,075 4.91% Negotiated Benefits $ 14,640,129 $ - $ 14,640,129 0.00% Mandated Benefits $ 36,722,669 $ 2,197,394 $ 38,920,063 5.98% Non-Salary/Non-Benefit $ 27,977,413 $ 1,509,370 $ 29,486,783 5.39% $ - $ - $ - Reserve TOTAL EXPENSES $ 164,070,485 $ 7,865,565 $ 171,936,050 4.79% Interfund Transfers Out to Capital Projects Fund $ 1,630,612 $ 1,630,612 0.00% TOTAL OPERATING EXPENSES AND TRANSFERS $ 165,701,097 $ 173,566,662 Estimated Committed Fund Balance for anticipated benefits for employees and capital projects. $ 32,732,184 $ 18,934,344 1/21/2020, 12/10/2019 -2-
Abington School District 2020-2021 Preliminary Budget Index 2.6% Prior Year Actual Estimated District Percent School Year Total Expense Rates Contribution Increase PSERS Estimated Employer Contributions & Expense 2012-2013 12.36% $4,649,410 $9,298,820 2013-2014 16.93% $6,370,880 $12,741,760 37.0% 2014-2015 21.40% $8,269,715 $16,539,430 26.4% 2015-2016 25.84% $10,178,430 $20,356,860 20.7% 2016-2017 30.03% $12,071,347 $24,142,694 16.2% 2017-2018 32.57% $13,232,716 $26,465,432 8.5% 2018-2019 33.43% $13,817,235 $27,634,470 2.6% 2019-2020 34.29% $14,527,006 $29,054,012 2.6% Estimated Rates December 2019 Estimated District Percent School Year Total Expense Prior Year Estimated Rates Contribution Increase 2020-2021 34.77% 34.51% $15,273,386 $30,546,772 0.6% 2021-2022 35.19% 34.95% $15,963,698 $31,927,396 1.3% 2022-2023 35.84% 35.62% $16,665,030 $33,330,060 1.9% 2023-2024 36.30% 36.12% $17,300,896 $34,601,792 1.4% 2024-2025 36.50% 36.60% $17,773,418 $35,546,836 1.3% Total Estimated Five-year Impact $165,952,856 1/21/2020 -3-
Abington School District 2020-2021 Preliminary Budget Referendum Exceptions Dollar Estimates Mills Percent for 2020-2021 REFERENDUM EXCEPTIONS - Pennsylvania Department of Education (PDE) PDE Allowable Referendum Expenditures Special Education Expenditures and Equivalent Number of Mills $ 903,292 0.27 $ 368,678 Retirement Contributions and Equivalent Number of Mills 0.11 Total Allowable Amount of Referendum Exceptions and Mills $ 1,271,970 0.38 Dollar Value of a Mill $ 3,315,051 Proposed Millage Rates, Percent Increase, and Impact on Average Owner Assessment 2020-2021 Millage Rate with Increase at Index 32.59 Percentage Increase over 2019-2020 Millage Rate 2.60% 2020-2021 Millage Rate at 2.6% Index & Referendum Exception 32.97 Percentage Increase over 2019-2020 Millage Rate 3.78% IMPACT OF INDEX MILLAGE RATE INCREASE ON AVERAGE $ 115.73 ASSESSMENT OF $141,130 ADDITIONAL IMPACT OF REFERENDUM EXCEPTION MILLAGE $ 53.63 RATE INCREASE ON AVERAGE ASSESSMENT OF $141,130 COMBINED IMPACT $ 169.36 1/21/2020 -4-
Abington School District 2020-2021 Preliminary Budget Index 2.6%, 32.59 Mills Plus .38 Mills Referendum Exceptions Proposed Revenue & Preliminary Budget Preliminary Budget Expense Changes 2020-2021 2020-2021 FUND BALANCE Committed Fund Balance (Audited) Committed Fund Balance (Estimated) $ 32,732,184 $ 32,732,184 Local Real Estate Taxes $ 113,447,019 $ 1,321,146 $ 114,768,165 State Property Tax Reductions $ (5,409,488) $ - $ (5,409,488) Earned Income Taxes $ 7,200,000 $ - $ 7,200,000 Other Local Revenue $ 5,194,042 $ - $ 5,194,042 $ - $ - $ - Other Financing Sources Sub-total Local Revenue $ 120,431,573 $ 1,321,146 $ 121,752,719 State $ 32,170,589 $ (194,261) $ 31,976,328 Property Tax Relief - Gaming Distribution $ 3,225,659 $ - $ 3,225,659 $ 2,183,829 $ - $ 2,183,829 Property Tax Relief - Sterling Act Reimbursements Sub-total State Revenue $ 37,580,077 $ (194,261) $ 37,385,816 $ 1,757,172 $ - $ 1,757,172 Federal Sub-total Revenue $ 159,768,822 $ 1,126,885 $ 160,895,707 $ 12,167,228 $ (1,888,769) $ 10,278,459 Allocated Fund Balance TOTAL REVENUE & FUND BALANCE $ 171,936,050 $ (761,884) $ 171,174,166 EXPENSES Salaries $ 88,889,075 $ (373,363) $ 88,515,712 Negotiated Benefits $ 14,640,129 $ - $ 14,640,129 Mandated Benefits $ 38,920,063 $ (388,521) $ 38,531,542 Non-Salary/Non-Benefit $ 29,486,783 $ - $ 29,486,783 $ - $ - $ - Reserve TOTAL EXPENSES $ 171,936,050 $ (761,884) $ 171,174,166 Interfund Transfers Out to Capital Projects Fund $ 1,630,612 $ 1,630,612 TOTAL OPERATING EXPENSES AND TRANSFERS $ 173,566,662 $ 172,804,778 Estimated Committed Fund Balance for anticipated benefits for employees and capital projects. $ 18,934,344 $ 20,823,113 1/21/2020 -5-
Abington School District 2020-2021 Preliminary Budget Index 2.6%, 32.97 Mills with Referendum Exceptions Budget Revenue & Preliminary Budget Percent 2019-2020 Expense Changes 2020-2021 Change FUND BALANCE Committed Fund Balance (Audited) $ 42,810,865 Committed Fund Balance (Estimated) $ 32,732,184 REVENUE Local Real Estate Taxes $ 110,736,778 $ 4,031,387 $ 114,768,165 3.64% State Property Tax Reductions $ (5,431,997) $ 22,509 $ (5,409,488) -0.41% Earned Income Taxes $ 7,200,000 $ - $ 7,200,000 0.00% Other Local Revenue $ 5,141,042 $ 53,000 $ 5,194,042 1.03% $ - $ - $ - Other Financing Sources Sub-total Local Revenue $ 117,645,823 $ 4,106,896 $ 121,752,719 3.49% State $ 30,790,655 $ 1,185,673 $ 31,976,328 3.85% Property Tax Relief - Gaming Distribution $ 3,225,659 $ - $ 3,225,659 0.00% $ 2,206,338 $ (22,509) $ 2,183,829 Property Tax Relief - Sterling Act Reimbursements -1.02% Sub-total State Revenue $ 36,222,652 $ 1,163,164 $ 37,385,816 3.21% $ 1,753,941 $ 3,231 $ 1,757,172 Federal 0.18% Sub-total Revenue $ 155,622,416 $ 5,273,291 $ 160,895,707 3.39% $ 8,448,069 $ 1,830,390 $ 10,278,459 Allocated Fund Balance 21.67% TOTAL REVENUE & FUND BALANCE $ 164,070,485 $ 7,103,681 $ 171,174,166 4.33% EXPENSES Salaries $ 84,730,274 $ 3,785,438 $ 88,515,712 4.47% Negotiated Benefits $ 14,640,129 $ - $ 14,640,129 0.00% Mandated Benefits $ 36,722,669 $ 1,808,873 $ 38,531,542 4.93% Non-Salary/Non-Benefit $ 27,977,413 $ 1,509,370 $ 29,486,783 5.39% $ - $ - $ - Reserve TOTAL EXPENSES $ 164,070,485 $ 7,103,681 $ 171,174,166 4.33% Interfund Transfers Out to Capital Projects Fund $ 1,630,612 $ 1,630,612 0.00% TOTAL OPERATING EXPENSES AND TRANSFERS $ 165,701,097 $ 172,804,778 Estimated Committed Fund Balance for anticipated benefits for employees and capital projects. $ 32,732,184 $ 20,823,113 1/21/2020 -6-
Abington School District 2020-2021 Preliminary Budget Index 2.6% - 32.97 Mills Impact on Owner IMPACT ON AMOUNT PAID BY AVERAGE OWNER IF HOMESTEAD PROPERTY TAX RELIEF Percent 2019-2020 2020-2021 Difference Change INCREASE AT 2.6% INDEX PLUS EXCEPTION Average Assessment $ 141,130.00 $ 141,130.00 Prior Year Millage Rate 31.77 32.97 Amount of Tax $ 4,483.70 $ 4,653.06 $ 169.36 Impact for Average Owner 3.78% Homestead Property Tax Relief - Sterling Act Credit $ (145.00) $ (143.00) $ (212.00) $ (212.00) Homestead Property Tax Relief - Gaming TOTAL HOMESTEAD PROPERTY TAX RELIEF $ (357.00) $ (355.00) Amount of Tax After Decrease in Mills Property Tax Relief $ 171.36 $ 4,126.70 $ 4,298.06 Impact for Average Owner 4.15% NOTE: VALUE OF A MILL AT 97.4% COLLECTION RATE - $3,315,051 1/21/2020 -7-
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