Board of Education Meeting 2019-2020 Budget March 18, 2019 First - PowerPoint PPT Presentation

Board of Education Meeting 2019-2020 Budget March 18, 2019

First Hurdles 2019-2020 Estimated Expenditure Increases • Salaries/Fringes Increases $ 570,584 • Debt Service 173,801 • All other district expenses 325,438 • Total Preliminary Increase to Expenses $1,069,823 Estimated Increases to Revenue • Aid Increase per Governor’s Budget $ 60,759 • Real Estate Taxes 256,408 • Other Miscellaneous Revenue Sources 376,179 • Total Preliminary Increase to Revenue $ 693,346 Deficit $ 376,477

Changes to Enrollment School Year Enrollment 2013-2014 1780 2014-2015 1696 2015-2016 1695 2016-2017 1650 2017-2018 1599 2018-2019 1554 2017 2018 Incoming Kindergarten Class 122 111 Graduating Class 160 139

Planned Deficit Reductions Teacher on Special Assignment Social Studies Elementary Music Special Education Total Salaries/Benefits for Listed Positions: $376,477

After Planned Reductions 2019-2020 
 Expenditures • Salaries $ 15,360,426 • Employee Benefits 10,868,202 • Equipment 143,200 • Contractual 1,839,706 • Supplies 742,247 • Utilities 518,000 • Insurance 167,500 • Textbooks 174,500 • Tuition 497,650 • BOCES Services 2,923,694 • Bond Principal/Interest 2,978,670 • Transfer to Other Funds 20,000 • Total Projected Expenditures $ 36,233,795

Projected 2019-2020 Revenues • Tax Levy and Related Items $ 17,641,634 • State Aid $ 15,864,851 • BOCES Aid $ 1,115,310 • Other Miscellaneous $ 412,000 • Appropriated Reserves $ 1,200,000 Total Estimated Revenues • $36,233,795

2018-2019 Adopted compared to 2019-2020 Projected • 2018-2019 Adopted Spending • Total Projected Expenditures $35,540,449 • Percentage Increase of Spending 1.98% • Tax Levy Impact 1.9% • 2019-2020 Proposed Spending • Total Projected Expenditures $36,233,795 • Percentage Increase of Spending 1.95% • Tax Levy Impact 1.67%

Tax Cap Calculation 2019-2020 • 2018-2019 TAX LEVY $ 17,285,761 • Tax Base Growth Factor 1.0091 • Plus PILOTS $ 32,043 • Less taxes levied for capital $ 318,429 • Adjusted prior year tax levy $ 17,156,675 • Allowable levy growth factor 1.02 $ 17,499,809 • Less PILOTS 37,079 • Tax Levy Limit $ 17,462,730 • Plus exemptions 111,825 2019-2020 Projected Tax Levy $ 17,574,555 Maximum allowable levy 1.67%

Tax Bill Impact • 2018-2019 True Value Tax Rate • $19.64 per $1,000 of Assessed Value • 2019-2020 Projected True Value Tax Rate • $19.93 per $1,000 of Assessed Value @1.67% Levy Increase • Net Increase to True Value Tax Rate • $00.29 per $1,000 of Assessed Value @ 1.67% • Impact to Tax Payer on Annual Tax Bill • $100,000 Home $29.00 • $150,000 Home $43.50 • $175,000 Home $50.75

Budget Adoption – BOE Meeting April 15, 2019 Budget Vote – May 21, 2019 Thank you for your time and attention! Please do not hesitate to call with questions: Dr. Ryan Sherman, Superintendent 518-695-3255 Marian Chrisman, Business Manager 518-695-8251