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 o 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 o 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 o 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 o 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 5-8 th 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 o 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