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 of 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 % % of Chg 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 our students and our staff We believe an investment in technology will: ◊ better prepare our students for the future ◊ offer the potential to reduce operating costs ◊ provide 24/7 access to students ◊ offer 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. x Est. Ratables General Fund Levy (capped) = 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 2012 2013 Increase (Decrease) (Decrease) Home $350,000 $350,000 $450,000 $450,000 Assessment $ 4,957 $ 5,062 $104.32 $ 6,374 $ 6,508 $134.13 Annual $ 413.11 $ 421.81 $8.69 $ 531.15 $ 542.33 $11.18 Monthly 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