Board of Education Meeting 2018-2019 Budget Public Hearing May 1, - PowerPoint PPT Presentation

Board of Education Meeting 2018-2019 Budget Public Hearing May 1, 2018

How did we get here? • February 12, 2018: • Projected Expenditures: $36,370,584 • Tax @ 1.9% Levy • Budget should be: $35,456,334 • Variance: $914,250

Solutions • Reductions for Retirement $122,841 • Reduction for Staff reshuffling $339,616 • Fringe Benefits on Above $214,262 • Various Expense Reductions $237,532 • Total Determination $914,251

Additional Factors Considered • School Resource Officer $85,000 • Adopting Maximum Allowable Tax Cap of 2.042 added $25,000 to Tax Revenue • Received additional State Aid of $60,000

Projected Increases/Decreases • Increases • Salary Increases $ 96,353 • Employee Benefits $476,288 • Contractual and Other $272,067 • Tuition – Other District Placements $177,000 • BOCES Services $166,138 • Preliminary Projected Increases $1,187,846 • Decreases • Equipment $ 42,100 • Materials and Supplies $ 43,290 • Principal/Interest Bond Payments $ 411,544 • Preliminary Projected Decreases $496,934 Net Budget Increase $690,912

Proposed 2018-2019 Expenditures • Salaries $ 15,198,892 • Employee Benefits 10,855,521 • Equipment 108,200 • Contractual 1,993,140 • Materials/Supplies 684,650 • Textbooks 129,500 • Tuition 455,000 • BOCES Services 2,905,796 • Bond Principal/Interest 3,189,750 • Transfer to Other Funds 20,000 $35,540,449 • Total Projected Expenditures

Comparative Spending Plans • 2018-2019 Proposed Spending • Total Projected Expenditures $35,540,449 • Percentage Increase of Spending 1.98% • Tax Levy Impact 2.04% • 2017-2018 Adopted Spending • Total Expenditures $34,849,537 • Percentage Increase of Spending 2.10% • Tax Levy Impact 0%

Three Part Budget Comparison Program Capital Capital 25,460,600 5,953,210 6,338,151 74% 17% 18% Program 26,536,225 74% Administrative 3,050,786 Administrative 9% 3,051,014 2017-2018 9% 2018-2019 Adopted Proposed Budget

Projected 2018-2019 Revenues • Tax Levy and Related Items $ 17,348,147 • State Aid $ 15,476,662 • BOCES Aid $ 1,103,640 • Other Miscellaneous $ 412,000 • Appropriated Reserves $ 1,200,000 • Total Estimated Revenues $35,540,449

Tax Cap Calculation 2017-2018 2017-2018 TAX LEVY $16,971,587 Tax Base Growth Factor 1.0159 $17,134,514 Plus Pilots $0 less taxes levied for capital $575,030 adjusted prior year tax levy $16,666,405 X Allowable levy growth factor (lesser of 2% or cpi) 1.02 $16,999,733 less pilots $0 plus carryover $0 Tax Levy Limit $16,999,733 0.166 Plus exemptions, ers, trs, capital $318,429 Maximum allowable levy $17,318,162 2.042 2018-2019 Projected Levy $17,318,162

Tax Bill Impact • 2017-2018 True Value Tax Rate • $19.40 per $1,000 of Assessed Value • 2018-2019 Projected True Value Tax Rate • $19.80 per $1,000 of Assessed Value • Net Increase to True Value Tax Rate • $00.40 per $1,000 of Assessed Value • Impact to Tax Payer on Annual Tax Bill • $100,000 Home $40.00 • $150,000 Home $60.00 • $175,000 Home $70.00

Board Elections • Three candidates vying for two Board Seats (Five Year Term): • Robert Thivierge • Mathias Donnelly • Louis Maggiore

Budget Adopted – BOE Meeting April 9, 2018 Budget Vote – May 15, 2018 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