Central Dauphin School District 2014-2015 Budget Presentation #9 - - PowerPoint PPT Presentation

Central Dauphin School District

2014-2015 Budget Presentation #9

April 21, 2014

Agenda

• 5 Year Model
• Budget History
• Gross Payroll
• Debt Service
• CDSD
• DCTS
• PSERS
• Real Estate Tax Millage
• 5 Year Model

5 Year Model - Current

Gross Payroll History

Fiscal Yr Gross Payroll 2006-07 $65,791,152 2007-08 68,557,926 2008-09 70,075,129 2009-10 71,686,123 2010-11 70,369,939 2011-12 67,786,443 2012-13 66,659,249 2013-14 70,121,092 2014-15 71,887,254

Gross Payroll History

• 10,000,000

20,000,000 30,000,000 40,000,000 50,000,000 60,000,000 70,000,000 80,000,000 90,000,000 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15

Summary of Outstanding Debt

Principal Only

Note/ Outstanding Call Bond Year Principal Date DCTS 2007 10,008,055 $ 03/15/15 GON 2004 15,655,000 06/01/14 GON 2006 75,205,000 08/01/16 GOB - A 2006 38,090,000 11/15/16 GOB 2009 3,750,000 07/15/14 GOB 2010 10,205,000 02/01/16 GOB 2011 7,720,000 Non-Callable GOB 2012 8,370,000 Non-Callable 169,003,055 $

Potential Debt Savings

Fiscal Yr Potential Savings 2015-16 $ 141,309 2016-17 3,260,190 2017-18 1,340,153 2018-19 1,339,824 2019-20 1,343,495 2020-21 1,731,941 $ 9,156,912

DCTS Refinancing

Fiscal Yr Potential Savings 2015-16 $ 96,497 2016-17 369,124 $ 465,621

PSERS Model Review

PSERS Model Review

School Proposed Savings Interest Required Year Payroll PSERS Due Rate Budget Needed Earnings Deposit 12-13 67,995,641 0.1236 8,404,261 0.1236 8,404,261

• 13-14

70,321,092 0.1675 11,778,783 0.1433 10,077,012 1,701,770 2,553 1,699,218 14-15 72,726,073 0.2125 15,454,291 0.1622 11,796,169 3,658,121 10,974 3,647,147 15-16 75,213,305 0.2556 19,224,521 0.1928 14,501,125 4,723,396 21,255 4,702,140 16-17 77,785,600 0.2626 20,426,499 0.2236 17,392,860 3,033,638 18,202 3,015,437 17-18 80,445,868 0.2686 21,607,760 0.2593 20,859,613 748,147 5,611 742,535 18-19 83,197,116 0.2753 22,904,166 0.2753 22,904,166

• 13,806,477

PSERS/Real Estate/COLA History

Fiscal Year PSERS Percent Change PSERS Expense Millage Percent Change Soc Sec COLA 2004-05 4.23 2,414,144 11.8880 2.70% 2005-06 4.69 10.87% 2,927,987 11.9870 0.83% 4.10% 2006-07 6.46 37.74% 4,094,848 12.9680 8.18%

*

3.30% 2007-08 7.13 10.37% 4,808,864 13.5480 4.47% 2.30% 2008-09 4.76

• 33.24%

3,761,493 13.5480 0.00% 5.80% 2009-10 4.78 0.42% 3,442,851 13.8600 2.30% 0.00% 2010-11 5.64 17.99% 3,926,462 13.8600 0.00% 0.00% 2011-12 8.65 53.37% 6,096,543 13.8600 0.00% 3.60% 2012-13 12.36 42.89% 8,262,379 14.3173 3.30% 1.70% 2013-14 16.93 36.97% 11,745,283 14.3173 0.00% 1.50% Ttl Change 300.24% 20.43% 25.00% Avg Annual 30.02% 2.04% 2.50%

PSERS Tax Increases Needed

Fiscal Yr Tax Increase 2014-15 2.83% 2015-16 5.00% 2016-17 6.42% 2017-18 6.29% 2018-19 4.45%

PSERS Tax Increases Needed

Fiscal Yr Tax Increase 2014-15 2.83% 2015-16 5.00% 2016-17 6.42% 2017-18 6.29% 2018-19 4.45% CDSD is limited to increase tax rates by the Act 1 Index. These tax increases are for illustrative purposes only and are NOT achievable under Act 1.

Real Estate Tax Millage History

Fiscal Yr Millage Tax Increase Allowable 2008-09 13.5480 4.4% + Exception 2009-10 13.8600 2.3% increase 4.1% + Exception 2010-11 13.8600 2.9% + Exception 2011-12 13.8600 1.4% + Exception 2012-13 14.3173 3.3% increase 1.7% + Exception 2013-14 14.3173 1.7% + Exception 5.6% increase 16.2% + Exception

Real Estate Taxes

• Assessment growth projected at .664%

– Approximately $485,000

• Act 1 allows 2.1%

– Approximately $1,535,000

• Real Estate Tax Collection Rate

– FYE 2013 = 95.1%

Tax Increase

• Median Assessed Value (May 1st) - $113,200
• Home assessed value $150,000

– $45.00 per year – $ 3.75 per month

5 Year Model – Option 1

Questions?