Prude nt F ina nc ia l Pla nning fo r Sha ping o ur F uture - - PowerPoint PPT Presentation

Prude nt F ina nc ia l Pla nning fo r Sha ping o ur F uture

Budge t Wo r ksho p-Mar c h 8, 2018 Mattituc k-Cutc ho gue Sc ho o l Distr ic t

Pre se nte d b y K e vin J. Co ffe y, Busine ss a nd Ope ra tio ns Administra to r

Ag e nda

 Driving F

a c to rs

 Distric t Re se rve s a nd F

und Ba la nc e

 F

• rma l Pla n

 Pro je c te d 6/ 30/ 2018  Ca pita l Re se rve  Appro pria te d F

und Ba la nc e

 F

uture Pla n

 Outside Vie w

 2018-2019 Budg e t



Ove rvie w



Budg e t Drive rs



Ne xt Ste ps

Driving F a c to rs: Suppo r

ting high quality and c r e ative te ac hing and le ar ning!

 Co ntinue to stre ng the n the e xpe rtise o f yo ur a dministra tive te a m a s we re spo nd

to the tra nsitio n

 K

e e p o ur fo c us o n the g o a ls

 T

a ke a c tio n thro ug h o ur b udg e t pla nning pro c e ss a lig ning sta ffing ne e ds with pro g ra m ne e ds fo r the 2018-2019 Sc ho o l Ye a r

 De sig n a pla n fo r b e st use o f fa c ilitie s a nd pro pe rty  Budg e t wo rk to inc lude a lo o k a t a c a pita l re se rve o ptio n  De sig n a pla n fo r b e tte r c o mmunic a tio n inc luding pho ne s a nd use o f

te c hno lo g y

 Be c o me a c tive in le g isla tive issue s a ro und me nta l he a lth, funding , a nd suppo rt

fo r sma lle r distric ts who wish to c o lla b o ra te fo r a thle tic s, pro g ra ms a nd se rvic e s

Driving F a c to rs: Bo ar

d o f E duc atio n Go al e xe r c ise s fisc al r e spo nsibility in the se r vic e o f High Quality and Cr e ative T e ac hing and L e ar ning and all r e late d go als.

Give n the c urre nt e nviro nme nt o f diminishing re so urc e s, ta x c a p, a nd Sta te a nd F e de ra l ma nda te s a nd de c lining stude nt e nro llme nt

 Stra te g ic pla n fo r fa c ilitie s  Budg e t pla nning  Re se rve s a na lysis a nd unde r spe nding tre nds, c a pita l re se rve disc ussio n  I

ndic a to rs mig ht b e use o f da ta o n e nro llme nt a nd sta ffing pro je c tio ns

 Use distric t g o a ls a s a drive r a nd c o nside ra tio n fo r a ll b udg e ta ry de c isio ns  E

xplo re mo re g ra nt a nd o utside re so urc e s

 Unde rsta nd po lic y a nd pro c e dure s tha t e xist tha t influe nc e BOE

de c isio n ma king

Distric t Re se rve s

 E

sta b lish fo rma l Re se rve Pla n

 Gra dua l me a sure d a ppro a c h

 Avo id ta x spike s

 Ma na g e Distric ts' stro ng b a la nc e she e t  Use fo r inte nde d purpo se

 Ong o ing Upda te s a nd Co mmunic a tio ns to Bo a rd o f E

duc a tio n

 5 Ye a r Pla n

Distric t Re se rve s

 Curre nt sta tus o f Re se rve s-Pro je c te d 6/ 30/ 2018

 E

mplo ye e Be ne fit Ac c rue d L ia b ility a ppro x. $1.5M

 Re se rve =L

ia b ility a t 6/ 30/ 2018

 I

nc e ntive o f $446K a ddre sse s I nte rna l Co ntro l Co mme nt a t 6/ 30/ 2017

 Appro pria te d $346K

fo r 17/ 18

 Appro pria te $121K

in 18/ 19 b a se d o n kno w re tire me nts

 E

RS (Re tire me nt-CSE A sta ff o nly ) a ppro x. $2.1M

 T

ra nsfe r $2.5M to ne w Ca pita l Re se rve in 17/ 18

 Appro pria te $275K

in 18/ 19

 Wo rke rs Co mpe nsa tio n $616K

 Appro pria te d $154K

in 17/ 18

 Appro pria te $75K

in 18/ 19

Distric t Re se rve s (c o n’ t)

 Curre nt sta tus o f Re se rve s-Pro je c te d 6/ 30/ 2018

 Une mplo yme nt a ppro x. $94K

 T

ra nsfe r $500K to ne w Ca pita l Re se rve in 17/ 18

 Appro pria te $14K

in 18/ 19

 Ca pita l $3.0M

 T

ra nsfe r $2.5M fro m E RS in 17/ 18

 T

ra nsfe r $500K fro m Une mplo yme nt in 17/ 18

Distric t Re se rve s

 Ca pita l Re se rve

 Re c o mme nd e sta b lishing a Ca pita l Re se rve fo r $6.0M in Ma y 2018 b a se d o n

vo te r a ppro va l

 Vo te rs will a ppro ve a re se rve fo r se c urity syste ms, re no va tio ns, te c hno lo g y, so la r,

ve hic le s, e q uipme nt, b o ile rs, A/ C, do o rs, ro o f re no va tio ns, flo o r re pla c e me nt, e tc .

 Ma y 2019 first ye a r vo te rs c a n a ppro ve d spe c ific c a pita l re la te d pro je c ts fo r

19/ 20 sc ho o l ye a r a nd fo rwa rd

 I

nitia l funding o f $3.0M in 17/ 18

 F

und fro m $2.5M E RS a nd $500K Une mplo yme nt Re se rve

 I

f the re is a ny e xc e ss fund b a la nc e c a n b e use d to fund re se rve a nnua lly

 K

e y Be ne fits

 F

und c a pita l e ffo rts with re se rve no e ffe c t o n ta x ra te

 No b o rro wing fo r la rg e r pro je c ts  Ma inta ins b uilding s a nd infra struc ture

Appro pria te d F und Ba la nc e

 De finitio n

 Appro pria te d fund b a la nc e is a funding so urc e to b a la nc e the b udg e t fo r

e xpe nditure s e xc e e ding b udg e te d re ve nue . Allo ws distric ts the a b ility to ma na g e the ta x le vy in the ta x c a p e nviro nme nt.

 Re duc e Re lia nc e

 T

he 18/ 19 $500K re duc tio n in a ppro pria te d fund b a la nc e re duc e s the re lia nc e

• n the this re ve nue so urc e in the future

 Ac c o mplish b y tig ht b udg e ting o f 18/ 19 b udg e t e xpe nditure s a nd re ve nue s

 L

• ng -te rm Go a l

 Go a l is to re duc e to a ppro pria te d fund b a la nc e to ze ro fo r the 21/ 22 b udg e t

 Se tting up the c a pita l re se rve is a ke y c o mpo ne nt to imple me nt this pla n

Distric t Re se rve s

 Outside Vie w

 Culle n & Da no swski-Outsid e Audito rs

 T

ho ug hts o n Distric t Pla n

 Othe r Distric ts Appro a c he s  OSC Re po rts o n Re se rve s



I ng e rma n Smith-Co unse l

 T

ho ug hts o n Distric t Pla n

 Wha t a re yo ur c lie nts do ing  F

• rma l ste ps to se t-up

 BOE

Disc ussio n

2018-2019 Budg e t

 Ove rvie w

 T

a x Ra te

 18/ 19-0.25% ta x le vy vs. 0.97% a llo wa b le ta x le vy  17/ 18-0.17% ta x le vy vs. 1.37% a llo wa b le ta x le vy

 Budg e t to Budg e t

 18/ 19 $40,712,455 vs $40,765,316 o r a de c re a se o f $52,861

 K

e y Cha ng e s-E xpe nse s

 De c re a se s

 $387,246 Sa la ry-Re d uc tio n in he a d c o unt o f 12 o r 5%, o ffse t b y c o ntra c tua l inc re a se s  $559,575 Princ ipa l a nd Inte re st-Struc ture o f re fina nc e  $508,894 Othe r-BOCE

S, T ra nspo rta tio n, Po le Ba rn a nd Co lumns

 I

nc re a se

 $754,827 Be ne fits-Co ntra c tua l Me d ic a l Pre miums 9% a nd T

RS Re tire me nt fro m 9.8% to 10.63%

 $648,026 E

q uipme nt, inc lud ing VOIP Pho ne Syste m a nd T V Stud io

2018-2019 Budg e t

 Ove rvie w

 K

e y Cha ng e s-Re ve nue s

 De c re a se s

 $500,000 in a ppro pria te d fund b a la nc e , pla nne d re d uc tio n  $225,426 E

mplo ye e Be ne fit Ac c rue d L ia b ility, d ue to inc e ntive in 17/ 18

 $79,000 a ppro pria te d wo rke rs c o mpe nsa tio n, pla nne d re d uc tio n

 I

nc re a se

 $150,000 Sta te Aid  $275,000 E

RS, pla nne d re d uc tio n



$219,725 Inte rfund T ra nsfe r fro m Ca pita l F und

K e y Budg e t Drive rs

 Sa ving s

 I

nc e ntive Pla n

 Alig nme nt o f sta ff a nd e nro llme nt

 T

e c hno lo g y a nd Pro g ra m I nitia tive s

 VOI

P pho ne syste m-c o mmunic a tio ns

 Se c urity

 Switc he s a nd Se rve rs  Ca me ra s

 T

V Studio

 1:1 Chro me Bo o ks 5-8th Gra de

Ne xt Ste ps

 Ne xt Ste ps

 Ma rc h 9 pro vide b udg e t de ta il  Co mmitte e me e ting s re vie w b udg e ts

 Budg e t He a ring Ma rc h 15

 Pre se nta tio n b y Building a nd De pa rtme nts

 E

nro llme nt a nd Sta ffing

 I

nitia tive s

 Budg e t He a ring Ma rc h 22

 Re vie w o f c o mple te b udg e t  F

ina lize de c isio n o n Ca pita l Re se rve

 Pub lic fe e db a c k  BOE

Re so lutio n to b e vo te d o n

Prude nt F ina nc ia l Pla nning fo r Sha ping

• ur F

uture

 T

ha nk yo u fo r….

 Suppo rting o ur stude nts  Suppo rting the sta ff  Pe rfo rming the fiduc ia ry duty to o ur ta xpa ye rs  Ma king Ma ttituc k-Cutc ho g ue a n e xc e lle nt sc ho o l distric t