SLIDE 1
DISCUSSION ITEMS
4/3/2019
Highlights of state budget released March 31 st State aid included - - PowerPoint PPT Presentation
Highlights of state budget released March 31 st State aid included - - PowerPoint PPT Presentation
DISCUSSION ITEMS 2 Highlights of state budget released March 31 st State aid included in 2019-20 budget Proposed revenue budget Proposals to close remaining gap in expenditure budget 4/3/2019 STATE BUDGET HIGHLIGHTS 3
SLIDE 2
SLIDE 3
STATE BUDGET HIGHLIGHTS
4/3/2019
3
- Permanent 2% property tax cap
- BOCES Capital Exemption
- Teachers Retirement Reserve
- Salary cap for BOCES District Superintendents
- Allowing transportation “piggybacking” by school districts
- Equity Plan – more flexibility, reduces number of
schools/districts, report how schools prioritized
SLIDE 4
4/3/2019
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2019-20 STATE AID
Foundation Aid
9,080,423 $ 9,080,423 $
Deduct for local share
(9,000) $
Boces
1,009,843 $ 1,009,843 $
High Cost
175,085 $ 175,085 $
Private Cost
647,694 $ 647,694 $
Hardware/Tech
24,681 $ 24,681 $
Software/Library/Textbook
111,521 $ 111,521 $
Transportation
1,314,665 $ 1,309,262 $
Charter School
142,423 $ 142,423 $
Total without Bldg Aid
12,506,335 $ 12,491,932 $
Building
3,885,587 $ 3,885,587 $
Total with Bldg Aid 16,391,922 $ 16,377,519 $ Universal Pre K Grant ‐ F Fund
126,140 $ 126,140 $
Total 16,518,062 $ 16,503,659 $
2019-20 Budget 2019-20 Legislative Budget run
SLIDE 5
4/3/2019
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2019-20 REVENUE ESTIMATES
2018-19 2019-20 Increase State Aid 15,256,543 $ 16,377,519 $ 1,120,976 $ Tax Levy 12,544,319 12,782,661 238,342 Other 1,699,659 2,078,990 379,331 Estimated Revenue 29,500,521 31,239,170 1,738,649 Appropriated Fund Balance 3,115,598 2,890,819 (224,779) Planned Used of Reserves 270,000 224,779 (45,221) Total Revenue Budget 32,886,119 $ 34,354,768 $ 1,468,649 $
- State Aid estimates per state budget released March 31st
- Building aid increase of $753,889 due to 1st impact of 2016 Project
- Tax levy increase of 1.9% (under tax cap of 3.02%)
- “Other” includes $170,000 transfer from debt service fund
- Appropriated fund balance reduced by $224,779 and is in line with
total contingency included in draft expenditure budget
- 2019-20 planned use of reserves equals Project Achieve total
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4/3/2019
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2019-20 DRAFT EXPENDITURE BUDGET
Changes since 2nd draft on 3/6/19:
- $17,987 reduction in wages & benefits due to position changes
- $28,892 reduction in BOCES services – primarily tuition
- $9,631 reduction in maintenance projects - encumber 2018-19
funds TOTAL EXPENDITURE REDUCTION $56,510
SLIDE 7
2019-20 BUDGET GAP
4/3/2019
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Estimated Revenue $34,316,710 Draft Budget Expenses $34,411,278 GAP $94,568 Need to utilize a combination of the following to close the gap: 1. Final state budget due April 1st – additional state aid increase of $38,058
- 2. Cut additional costs – cost reductions of $56,510
- 3. Reconsider increase to tax levy – stay at 1.9% increase
Gap as of March 20th
SLIDE 8
2019-20 BUDGET GAP
4/3/2019