CITY SCHOOL DISTRICT OF NEW ROCHELLE PRELIMINARY "STATUS - PowerPoint PPT Presentation

CITY SCHOOL DISTRICT OF NEW ROCHELLE PRELIMINARY "STATUS QUO" BUDGET DISCUSSION zyxwvutsrqponmlkjihgfedcbaZYXWVUTSRQPONMLKJIHGFEDCBA March 5, 2019

CITY SCHOOL DISTRICT OF NEW ROCHELLE Status Quo Budget Expense Assumptions: zyxwvutsrqponmlkjihgfedcbaZYXWVUTSRQPONMLKJIHGFEDCBA • All collective bargaining agreements are not in place; an e stimate has been made for salaries • All current faculty and staff remain in place - no added posi tions, clubs, staff assignments nor retirements • Teacher Retirement System (TRS) contribution rate is 8.86 %, down from 10.62% the 2018-19 TRS rate • Employee Retirement System (ERS) contribution rate is 14. 6%, slightly down from 14.9% the 2018-19 rate • Health insurance rate increase is 7.2% • BOCES services, transportation and contractual expenses increase by 2% • All other expense items will remain approximately unchang ed

CITY SCHOOL DISTRICT OF NEW ROCHELLE Status Quo Budget Revenue Assumptions: zyxwvutsrqponmlkjihgfedcbaZYXWVUTSRQPONMLKJIHGFEDCBA • Tax Levy Cap is not exceeded • State Aid is as contained in the Executive Budget Proposal • Payments in Lieu of Taxes (PILOTS) are based on latest data from the City of New Rochelle • Non-resident and foster child tuition items will increase based on aggressive and timely billing/collection • Interest earnings will double to $800,000 • All other revenue items will remain approximately unchang ed

CITY SCHOOL DISTRICT OF NEW ROCHELLE EXPENDITURES 2017-2018 2018-2019 2019-2020 Budget Incr. Budget 0/0 (Decrease) zyxwvutsrqponmlkjihgfedcbaZYXWVUTSRQPONMLKJIHGFEDCBA Description Budget Budget Budget Change Salaries 137,353,927 138,976,784 143,435,000 4,458,216 3.21% Employee Benefits 58,016,871 62,260,383 63,055,000 794,617 1.28% Debt Service 10,009,551 13,835,862 13,803,000 (32,862) -0.24% 15,002,783 15,252,904 15,558,000 305,096 Contractual Expense 2.00% Equipment & Durable Supplies 548,635 968,356 968,000 (356) -0.04% Tuition 4,256,207 4,251,294 4,251,000 (294) -0.01% 13,621,233 13,763,121 14,038,000 BOCES Services 274,879 2.00% Interfund Transfers 5,653,625 5,913,625 5,914,000 375 0.01% 2,220,192 2,176,136 2,176,000 (136) Supplies & Student Materials -0.01% Student Transportation 12,939,464 12,982,695 13,242,000 259,305 2.00% 259,622,488 270,381,160 276,440,000 6,058,840 TOTAL EXPENSES 2.24%

CITY SCHOOL DISTRICT OF NEW ROCHELLE REVENUES Budget Incr. Budget % 2017-2018 2018-2019 2019-2020 Budget Budget (Decrease) Change Budget Description 1.89% 209,002,162 212,946,784 3,944,622 204,441,642 Real Property Taxes Other Tax Items 1,629,842 2,312,216 682,374 41.87% 1,161,113 Payments in Lieu of Taxes 50,000 12.50% 280,000 400,000 450,000 Interest & Penalties on Taxes 2.22% 211,032,004 215,709,000 4,676,996 205,882,755 Subtotal-All Tax Items 3,200,000 3,200,000 0.00% 3,415,980 Utility Tax Charges for Services -60.00% 66,345 75,000 30,000 (45,000) Continuing Education Tuition 1,000,000 2,000,000 1,000,000 100.00% 700,000 Non-Resident & Foster Tuition 0.00% 2,694,337 2,400,000 2,400,000 Health Services for Other Districts Transportation for Other Districts 955,000 27.48% 3,460,682 3,475,000 4,430,000 Subtotal Use of Money and Property 400,000 800,000 400,000 100.00% 100,000 Interest & Earnings (90,000) -42.86% 158,316 210,000 120,000 Rental of Real Property 920,000 310,000 50.82% 258,316 610,000 Subtotal Sales zyxwvutsrqponmlkjihgfedcbaZYXWVUTSRQPONMLKJIHGFEDCBA & Compensation for Loss Sale of Scrap/Excess Materials 20,000 20,000 131,640 Insurance Recoveries 131,640 20,000 20,000 Subtotal Miscellaneous- Refunds 475,000 475,000 0.00% 463,785 Refund Prior Years' Expense-BOCES 0.00% 620,000 600,000 600,000 Refund Prior Years' Expense-Other 215,000 15,000 7.50% 196,992 200,000 Refund Prior Year's CPSE Admin. Expense 15,000 1.18% 1,280,777 1,275,000 1,290,000 Subtotal

CITY SCHOOL DISTRICT OF NEW ROCHELLE REVENUES Budget zyxwvutsrqponmlkjihgfedcbaZYXWVUTSRQPONMLKJIHGFEDCBA % 2017-2018 2018-2019 2019-2020 Budget Incr. Budget Budget (Decrease) Change Description Budget Miscellaneous-Other Gifts & Donations 827,724 422,000 422,000 0.00% E-Rate, Bus Tokens Fair Share Mitigation 130,000 130,000 Other 827,724 422,000 552,000 130,000 30.81% Subtotal State Aid 25,600,350 26,443,190 26,564,212 121,022 0.46% Basic FonnulaiFoundation Aid High Tax Aid 663,963 663,963 663,963 0.00% Public zyxwvutsrqponmlkjihgfedcbaZYXWVUTSRQPONMLKJIHGFEDCBA 1,620,110 1,799,295 1,573,695 (225,600) -12.54% & Private Excess Cost Aid BOCES Services Aid 4,532,569 5,183,350 5,194,713 11,363 0.22% 130,476 140,366 151,105 10,739 7.65% Hardware & Technology Software, Library, Textbook 1,021,332 1,016,475 1,012,627 (3,848) -0.38% 4,990,557 6,814,100 1,823,543 36.54% Transportation Aid 5,652,837 3,834,157 7,179,131 6,625,585 (553,546) -7.71% Building Aid 43,055,794 47,416,327 48,600,000 1,183,673 2.50% Subtotal Other Financing Sources Federal Aid - Medicaid Assistance 500,000 300,000 300,000 0.00% 275,000 275,000 300,000 25,000 9.09% Interfund Transfers Appropriated Retirement Reserve 975,684 1,000,000 24,316 2.49% 533,820 1,400,145 1,400,000 (145) -0.01% Appropriated Fund Balance 1,308,820 2,950,829 3,000,000 49,171 1.67% Subtotal 259,622,488 270,381,160 277,721,000 7,339,840 2.71% TOTAL REVENUES

CITY SCHOOL DISTRICT OF NEW ROCHELLE Property Tax Levy Cap Calculation: zyxwvutsrqponmlkjihgfedcbaZYXWVUTSRQPONMLKJIHGFEDCBA 209,002,162 Property Tax Levy FYE 2019 x 1.0027 Tax Base Growth Factor 209,566,468 Calculation 1,629,842 PILOTS Receivable FYE 2019 zyxwvutsrqponmlkjihgfedcbaZYXWVUTSRQPONMLKJIHGFEDCBA + 8,179,688 Capital Levy Exclusion FYE 201 203,016,622 Subtotal 1.02 Allowable Levy Growth Factor 207,076,954 Tax Levy Limit Before Exemptions 2,312,385 PILOTS Receivable FYE 2020 8,182,215 + Capital Levy Exclusion FYE 202 212,946,784 Maximum Allowable Property Tax Levy

CITY SCHOOL DISTRICT OF NEW ROCHELLE 2019-20 Preliminary "Status Quo" Budget Summary: zyxwvutsrqponmlkjihgfedcbaZYXWVUTSRQPONMLKJIHGFEDCBA 2019-20 Preliminary Revenues 277,721,000 2019-20 Preliminary Expenses 276,440,000 Excess of Revenues Over Expenses 1,281,000 Property Tax Levy Cap 212,946,784 Taxable Assessed Value ("AV") 266,058,677 2019-20 Tax Rate per $1,000 AV @ 3/5/20 800.38 2018-19 Final Tax Rate per $1,000 AV 785.72 Change - $ 14.66 Change - zyxwvutsrqponmlkjihgfedcbaZYXWVUTSRQPONMLKJIHGFEDCBA 1.87% %