Maywood Board Of Education Public Hearing 2013-2014 School Budget - - PowerPoint PPT Presentation

Maywood Board Of Education Public Hearing 2013-2014 School Budget

MAYWOOD SCHOOLS Your Children Your School Your Community

Mission Statement

“To provide students with a challenging learning environment by preparing them to be responsible, successful, ethical members of society through an environment that fosters the unique potential of each child and nurtures a respect and appreciation for the individuality of all students.”

2012-2013 Accomplishments

• Finalized agreement with Hackensack

Provides a degree of financial stability and predictability Improved communication – greater input over out of district placements Curriculum based collaboration with HHS

• Restored full day Kindergarten
• Deemed a ‘high performing’ district, once again by QSAC
• Welcomed 27 students from S. Bergen Jointure in aftermath
• f Sandy
• Upgraded technology infrastructure
• Completed energy audit for district
• Adopted new teacher evaluation model
• Continued beautification of school grounds

.

Budget Objectives – 2013-2014

• To help relieve the tax payer’s burden- lowered debt

levy.

• To maintain existing programs and services.
• To optimize our technology platform.
• To maintain existing staffing levels.
• To support Professional Development.
• To be early adopter of new evaluation mandate.
• To explore revenue generating opportunities.
• To maintain a safe & healthy learning environment.
• To obtain cost efficiencies where ever possible.

The Rock and the Hard Place

• 2013-2014 revenues are increasing 1.9%.

(BUT revenues would have increased 0% were it not for the use of

higher fund balance.) Tax levy = 87% of GF Revenues > subject to 2% cap limit State Aid ~ 6.5% of GF Revenues > 0% Fund balance ~ 6.5% of GF Revenues > 40% (will run out)

• Expenditures such as health premiums, tuition and

special education are expected to increase significantly more than 2% on a secular basis.

Budget Highlights (2013-2014)

2013-2014 Budget Highlights

• Tax Levy increase of 2%
• Debt levy cut 7% due to refinancing of debt
• Combined levy increase = 1.5% vs. 1.7%

increase in 2012-2013 (while enrollment continues to increase)

• New technology infrastructure to enhance

programmatic options

2012-2013 Budgeted Revenue

2012-2013A 2013-2014E % Chg % of Total Fund Balance $ 847,069 $ 1,182,017 40% 6.2% GF Tax Levy $15,415,114 $15,723,416 2% 82% Other local* $ 231,700 $ 48,000 (79%) 0.3% State Aid $ 1,288,660 $ 1,171,991 (9%) 6% Operating Revenue $17,782,543 $18,125,424 1.9% 94.5% Federal Grants (20) $ 301,499 $ 301,499 0% 1.5% Debt Levy $ 810,440 $ 753,943 (7%) 4%

• T. Budgeted Revenue

$18,894,482 $19,180,866 1.5% 100%

* Includes tuition, interest, miscellaneous

2013-2014 Budgeted Revenue

2013-2014 Budgeted Expenditures

2012-2013A 2013-2014E % Chg % of Total Tuition $ 6,463,959 $6,529,988 1% 36% Regular Instruction $ 4,017,285 $4,015,730 0% 22.2% Total Benefits $ 1,832,029 $1,874,643 2.3% 10.3% Special Ed / CST $ 1,782,289 $1,861,683 4.5% 10.3% Admin / Business Office $ 938,452 $ 928,185 (1%) 5.1% Facilities $ 970,283 $1,021,932 5.3% 5.6% Transportation $ 615,145 $ 615,000 (0%) 3.4% Other * $ 1,113,451 $1,201,706 7.9% 6.6% Capital outlay (12) $ 49,650 $ 76,557 54% 0.3%

• T. GF Expenditures $ 17,782,543 $18,125,424 1.9% 100.0%

* Supplies, athletics, health services, basic skills, professional development, library, IT, bilingual

2013-2014 Budgeted Expenditures

Technology Access to the best technology is a game changer for

• ur students and our staff

We believe an investment in technology will: ◊ better prepare our students for the future ◊

• ffer the potential to reduce operating costs

◊ provide 24/7 access to students ◊

• ffer enriched programmatic options

◊ prepare district for testing requirements

Shared Services

South Bergen Jointure Commission – Transportation and Tuition Services ACT – NJASBO Cooperative Bid for telephone services ACES – NJASBO Cooperative Bid for energy (electric and gas) Ed-Data – Cooperative Bid for teaching supplies, custodial supplies, maintenance supplies, office supplies, computer supplies, hourly trades, etc. Montclair State University – professional development Hackensack High School – professional development Bergen County Special Services and Technical Schools – regular and special ed programs SOBER – worker’s compensation pool of board of educations. Middlesex Regional Educational Services Commission Region IV – Special Education programs

Why does this happen every year?

• Tax Levy is capped and Revenues are increasing ONLY 0%-2% per year
• Costs are NOT capped and are increasing (on secular basis) >4% per year
• Therefore, every year for the past four years, the Board and Administration has

been forced to use Fund Balance to support the budget.

• However the use of Fund Balance to support revenues is a short term solution

as there is less Fund Balance to use every year. We’re dipping into our savings account.

• The Board and Administration has been very effective at reducing costs and

improving efficiencies.

• However, every year it gets more difficult to find the financial resources we

would like to provide the kind of instructional program you would like.

How School Taxes are Calculated

Est.

General Fund Levy (capped) x Est. Ratables = Tax Rate

% Chg

Debt Levy (fixed) 2012-13 $ 15,415,114 $ 1,145,553,594 $1.4164

25.2%*

$ 810,440 2013-14 $ 15,723,416 $ 1,139,354,800 $1.4462 2.1%

$ 753,943

• The large increase in school taxes in 2012-2013 was largely attributed to lower

property assessments.

School Tax

2.1% increase yr / yr

2012 2013 Increase (Decrease) 2012 2013 Increase (Decrease) Home Assessment

$350,000 $350,000 $450,000 $450,000

Annual

$ 4,957 $ 5,062 $104.32 $ 6,374 $ 6,508 $134.13

Monthly

$ 413.11 $ 421.81 $8.69 $ 531.15 $ 542.33 $11.18

The average home value in Maywood (2013) is $316,716 vs $346,950 in 2012

The Single Most Important Thing A Community Does Is To Educate Its Children