Jeffrey P. Simons Superintendent of Schools March 21, 2018 - - PowerPoint PPT Presentation

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jeffrey p simons superintendent of schools march 21 2018
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Jeffrey P. Simons Superintendent of Schools March 21, 2018 - - PowerPoint PPT Presentation

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Board Workshop #2: 2018-2019 Budget 1 EAST GREENBUSH CENTRAL SCHOOL DISTRICT Jeffrey P. Simons Superintendent of Schools March 21, 2018 QUESTIONS 2 Why Is The District Contribution for the Teachers Retirement System Increasing When

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SLIDE 1

Jeffrey P. Simons Superintendent of Schools March 21, 2018 Board Workshop #2: 2018-2019 Budget EAST GREENBUSH CENTRAL SCHOOL DISTRICT 1

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SLIDE 2

QUESTIONS

2

฀ Why Is The District Contribution for the

Teachers’ Retirement System Increasing When Stock Market Performance is High?

฀ The Retirement System is Funded by Investment

Returns and Employer/Employee Contributions

฀ The Rate of Return on Assets Decreased From

7.5% to 7.25% by Action of the TRS Board on October 26, 2017

฀ Other Factors: Rate of Salary Growth, Mortality

Rates for Active & Retired Members, Rates of Retirement, Disability and Withdrawal

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INVESTMENT PERFORMANCE TEACHERS’ RETIREMENT SYSTEM

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  • 6.30%
  • 20.50%

12.10% 23.20% 2.80% 13.70% 18.20% 5.20% 2.30% 12.50%

  • 25.00%
  • 20.00%
  • 15.00%
  • 10.00%
  • 5.00%

0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Source: TRS Comprehensive Annual Financial Report FYE June 30, 2017

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SLIDE 4

EMPLOYER CONTRIBUTION RATES FOR TEACHERS RETIREMENT SYSTEM

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6.19% 8.62% 11.11% 11.84% 16.25% 17.53% 13.26% 11.72% 9.80% 10.63% 4.00% 6.00% 8.00% 10.00% 12.00% 14.00% 16.00% 18.00% 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19

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SLIDE 5

QUESTIONS

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฀ Why and How Does the District Share

Services and Resources?

฀ Foster Collaborative and Cooperative

Relationships With Neighbors

฀ Efficiency ฀ Eliminate Duplication of Effort ฀ Cost Savings ฀ Maximization of Revenues ฀ Benefits from Standard and Best Practices

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QUESTIONS

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฀ Why and How Does the District Share Services and

Resources? (Samples)

฀ Questar III and Other BOCES Purchases ฀ Tuition Students from Wynantskill and North Greenbush ฀ Shared Programs with Rensselaer City Schools ฀ Special Education Program Placements ฀ Rensselaer County Substance Abuse Counselor ฀ School Resource Officer from Town of East Greenbush ฀ Rensselaer County Printing of Tax Bills ฀ Health Insurance Consortium Participation ฀ OMNI as Administrator for 403(b) Retirement Savings Plan

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MARCH 21 DISCUSSION AREAS

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Transportation Operations & Maintenance Board of Education Central Administration Employee Benefits Debt Service BOCES Services Estimated Revenues

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PRELIMINARY BUDGET ESTIMATE

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฀ Preliminary Budget Estimate: $96,436,010 ฀ Increase in Budget: $4,278,853, +4.64% ฀ Required Tax Levy: $5,376,518,+10.11% Will Change ฀ 5.55% Tax Cap Yields $2,950,114 in Revenue ฀ Gap Between Preliminary Budget Estimate and

Projected Revenues: $2,426,404

฀ Contingent Budget Rule: $5,376,518 in Reductions

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SLIDE 9

MAY 15, 2018 VOTE

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Proposed Budget Purchase of Buses, Reserve Purchase of Buses, Borrowing Establishment

  • f Bus Purchase

Reserve Election of Board Members (4)

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MAY 15, 2018 VOTE BUDGET PASSED OR DEFEATED

  • Enact Proposed Budget Effective July 1,

2018

  • Resubmit Budget for Second Vote OR

➢Revise Budget for Presentation to Voters

OR

➢Adopt Contingent Budget Effective July 1,

2018

10

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CONTINGENT BUDGET RULE

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Contingent Budget Calculation As Of March 21, 2018 Estimated Reduction 2018-19 Proposed Tax Levy $58,567,495 Less: 2017-18 Actual Tax Levy $53,190,977 Required Budget Reduction No Exceptions $5,376,518

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CONTINGENT BUDGET EXAMPLES - POSSIBLE REDUCTIONS

฀ Administrators ฀ Advanced Placement ฀ Art ฀ CAP, OG, Jump Start ฀ Community Use of

Schools

฀ Equipment ฀ Honors Courses ฀ Full Day Kindergarten ฀ Library ฀ Monitors ฀ Music ฀ Nursing Services ฀ Regents Review ฀ School Food Service

Subsidy

฀ School Resource

Officer

฀ Security Supervisors ฀ Small Class Sizes ฀ Social Workers ฀ Student Assistance

Counselor

฀ Student Clubs & Sports ฀ Technology Support ฀ Transportation Special

Runs

12

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BUS VIDEO PRESENTATION

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SCHOOL BUS PURCHASES PROPOSITIONS # 2 & 3

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Bus Type Qty Reserve (Prop #2) Qty Borrowing (Prop #3) Sixty-Six Passenger 2 $227,484 1 $113,742 Twenty-Eight Passenger 4 $237,588 $0 Twenty-Two Passenger 2 $116,452 $0 Wheelchair Bus 1 $70,974 $0 Total 9 $652,498 1 $113,742

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SCHOOL BUS REPLACEMENT DECISION FACTORS

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School Bus Replacement

Operating & Maintenance Costs

Mileage

State Aid Funding at 62.5%

Estimated Life

Fuel Efficiency

Safety

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SLIDE 16

BUS PURCHASE RESERVE PROPOSITION #4

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15 Years OR $5 Million in Deposits End of Reserve

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SLIDE 17

BUS PURCHASE RESERVE PROPOSITION #4

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State Aid (+)

  • From Previous Bus Purchases

Optional Funding (+)

  • At Discretion of the Board

Bus Purchases (-)

  • Approved by

the Voters

Current Balance (=)

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BUS PURCHASE RESERVE BENFITS OF A RESERVE

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  • Only Used for Bus Purchases

Specific

  • Voter Approval for Withdrawals

Controlled

  • Board of Education Optional Annual

Funding

Flexible

  • 62.5% of Eligible Cost Paid Over 5

Years

State Aid

  • Borrowing Cost Avoided

Cost Reduction

  • 15 Years or $5 Million in Deposits

Time Defined

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SLIDE 19

IMPORTANT DATES TO REMEMBER

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฀ Board Petitions

฀ Available: Monday, March 26 ฀ Due Back: Monday, April 16 ฀ Location: District Clerk’s Office

Citizen Genet Elementary School

฀ Meet The Candidates Night ฀ Wednesday, May 9 At 7:00 p.m. ฀ Location: Howard L. Goff Middle School Cafeteria