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

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

Nov 30, 2023 425 likes •524 views

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:

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SLIDE 1

CITY SCHOOL DISTRICT OF NEW ROCHELLE PRELIMINARY "STATUS QUO" BUDGET DISCUSSIONzyxwvutsrqponmlkjihgfedcbaZYXWVUTSRQPONMLKJIHGFEDCBA

March 5, 2019

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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
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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
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CITY SCHOOL DISTRICT OF NEW ROCHELLE EXPENDITURES Description 2017-2018 Budget Budget

0/0

Change 2018-2019 Budget 2019-2020 Budget Incr. Budget (Decrease)zyxwvutsrqponmlkjihgfedcbaZYXWVUTSRQPONMLKJIHGFEDCBA

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%

Contractual Expense 15,002,783 15,252,904 15,558,000 305,096 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%

BOCES Services 13,621,233 13,763,121 14,038,000 274,879 2.00% Interfund Transfers 5,653,625 5,913,625 5,914,000 375 0.01% Supplies & Student Materials 2,220,192 2,176,136 2,176,000 (136)

  • 0.01%

Student Transportation 12,939,464 12,982,695 13,242,000 259,305 2.00% TOTAL EXPENSES 259,622,488 270,381,160 276,440,000 6,058,840 2.24%

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CITY SCHOOL DISTRICT OF NEW ROCHELLE REVENUES

2017-2018 2018-2019 2019-2020 Budget Incr. Budget % Description Budget Budget Budget (Decrease) Change Real Property Taxes 204,441,642 209,002,162 212,946,784 3,944,622 1.89% Other Tax Items Payments in Lieu of Taxes 1,161,113 1,629,842 2,312,216 682,374 41.87% Interest & Penalties on Taxes 280,000 400,000 450,000 50,000 12.50% Subtotal-All Tax Items 205,882,755 211,032,004 215,709,000 4,676,996 2.22% Utility Tax 3,415,980 3,200,000 3,200,000 0.00% Charges for Services Continuing Education Tuition 66,345 75,000 30,000 (45,000)

  • 60.00%

Non-Resident & Foster Tuition 700,000 1,000,000 2,000,000 1,000,000 100.00% Health Services for Other Districts 2,694,337 2,400,000 2,400,000 0.00% Transportation for Other Districts Subtotal 3,460,682 3,475,000 4,430,000 955,000 27.48% Use of Money and Property Interest & Earnings 100,000 400,000 800,000 400,000 100.00% Rental of Real Property 158,316 210,000 120,000 (90,000)

  • 42.86%

Subtotal 258,316 610,000 920,000 310,000 50.82% SaleszyxwvutsrqponmlkjihgfedcbaZYXWVUTSRQPONMLKJIHGFEDCBA & Compensation for Loss Sale of Scrap/Excess Materials Insurance Recoveries 131,640 20,000 20,000 Subtotal 131,640 20,000 20,000 Miscellaneous- Refunds Refund Prior Years' Expense-BOCES 463,785 475,000 475,000 0.00% Refund Prior Years' Expense-Other 620,000 600,000 600,000 0.00% Refund Prior Year's CPSE Admin. Expense 196,992 200,000 215,000 15,000 7.50% Subtotal 1,280,777 1,275,000 1,290,000 15,000 1.18%

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CITY SCHOOL DISTRICT OF NEW ROCHELLE REVENUES

2017-2018 2018-2019 2019-2020 Budget Incr. BudgetzyxwvutsrqponmlkjihgfedcbaZYXWVUTSRQPONMLKJIHGFEDCBA

%

Description Budget Budget Budget (Decrease) Change Miscellaneous-Other

Gifts & Donations E-Rate, Bus Tokens 827,724 422,000 422,000 0.00% Fair Share Mitigation 130,000 130,000 Other

Subtotal

827,724 422,000 552,000 130,000 30.81%

State Aid

Basic FonnulaiFoundation Aid 25,600,350 26,443,190 26,564,212 121,022 0.46% High Tax Aid 663,963 663,963 663,963 0.00% PubliczyxwvutsrqponmlkjihgfedcbaZYXWVUTSRQPONMLKJIHGFEDCBA & Private Excess Cost Aid 1,620,110 1,799,295 1,573,695 (225,600)

  • 12.54%

BOCES Services Aid 4,532,569 5,183,350 5,194,713 11,363 0.22% Hardware & Technology 130,476 140,366 151,105 10,739 7.65% Software, Library, Textbook 1,021,332 1,016,475 1,012,627 (3,848)

  • 0.38%

Transportation Aid 5,652,837 4,990,557 6,814,100 1,823,543 36.54% Building Aid 3,834,157 7,179,131 6,625,585 (553,546)

  • 7.71%

Subtotal

43,055,794 47,416,327 48,600,000 1,183,673 2.50%

Other Financing Sources

Federal Aid - Medicaid Assistance 500,000 300,000 300,000 0.00% Interfund Transfers 275,000 275,000 300,000 25,000 9.09% Appropriated Retirement Reserve 975,684 1,000,000 24,316 2.49% Appropriated Fund Balance 533,820 1,400,145 1,400,000 (145)

  • 0.01%

Subtotal

1,308,820 2,950,829 3,000,000 49,171 1.67%

TOTAL REVENUES

259,622,488 270,381,160 277,721,000 7,339,840 2.71%

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CITY SCHOOL DISTRICT OF NEW ROCHELLE

Property Tax Levy Cap Calculation:zyxwvutsrqponmlkjihgfedcbaZYXWVUTSRQPONMLKJIHGFEDCBA Property Tax Levy FYE 2019 209,002,162 Tax Base Growth Factor x 1.0027 Calculation 209,566,468 PILOTS Receivable FYE 2019zyxwvutsrqponmlkjihgfedcbaZYXWVUTSRQPONMLKJIHGFEDCBA

+ 1,629,842 Capital Levy Exclusion FYE 201 8,179,688 Subtotal 203,016,622 Allowable Levy Growth Factor 1.02 Tax Levy Limit Before Exemptions 207,076,954 PILOTS Receivable FYE 2020 2,312,385 Capital Levy Exclusion FYE 202 + 8,182,215 Maximum Allowable Property Tax Levy 212,946,784

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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 2018-19 Final Tax Rate per $1,000 AV Change - $ Change -zyxwvutsrqponmlkjihgfedcbaZYXWVUTSRQPONMLKJIHGFEDCBA

%

800.38 785.72 14.66 1.87%