September 11 September 26, 2017 State Aid and Financial Planning - - PowerPoint PPT Presentation

Fall Workshops September 11 – September 26, 2017

State Aid and Financial Planning Service

Agenda

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 State Budget Round-Up  Data & Impact on Aid  Attendance – 180 Days of Session  Maximum Cost Allowance & New Process  Property Tax Cap - Updates/Common Issues  General Updates  Fall Reminders

State Budget 2017-18

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 $25.2 Billion in Computerized Aids  Increase of $995 million  Minimum Increase in Foundation Aid = 2.74%  Community Schools Set-Aside

5 Years of Aid Increases

4 $0 $200,000,000 $400,000,000 $600,000,000 $800,000,000 $1,000,000,000 $1,200,000,000 $1,400,000,000 2013-14 2014-15 2015-16 2016-17 2017-18

Annual Increase in Computerized Aids (Millions of Dollars)

Fiscal Year

Data & Impact on Aid

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• Pupil counts, Wealth  Impact aid
• Review and Verify

Transportation, Building and BOCES Aid Ratios

 Wealth Based

 Aid Calculation =

Approved Expenses x Selected Aid Ratio

 Ratio for poorer districts > ratio for wealthier

districts

 Selected Aid Ratio – varies for each aid

category

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Transportation Selected Aid Ratio: Greatest

• f 3 Wealth Adjusted Aid Ratios

 Ratio 1: RWADA Aid Ratio =

Full Value per RWADA State Average FV per RWADA

(RWADA = Resident Weighted Average Daily Attendance)  Ratio 2: Selected Sharing Ratio =

Full Value (FV) per Pupil and Adjusted Gross Income (AGI) per Pupil State Average FV per TWPU State Average AGI per TWPU

(Pupil count is: Total Wealth Pupil Units or TWPU)  Ratio 3: Enrollment Wealth Ratio (EWR) =

Full Value per Resident Student State Average FV per Resident Student

(Includes resident students enrolled in public and nonpublic school)

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1 2 3

RWADA Ratio EWR Ratio State Sharing Ratio Select Ratio

Transportation Aid – Calculation #1

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Ratio 1: RWADA Aid Ratio = Full Value per RWADA State Average FV per RWADA

(RWADA = Resident Weighted Average Daily Attendance)

Where do the numbers come from? – ACTUAL VALUATION (FV)

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 Assessed values verified with OSC  Form submitted to OSC by July 15th via online process  2013-14 values used for 2016-17 aid ratio calculations

Where do the numbers come from? – RWADA

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 RWADA = Resident Weighted Average Daily

Attendance

 2017-18 RWADA Aid Ratios

 Based on 2015-16 attendance/enrollment data

 Found under 2016-17 ATT Output Report (Line 96)

Where do the numbers come from? – RWADA (continued)

12  Components of RWADA include:

 Form A:  Equivalent attendance students - Entries 14&15  Resident SWD in BOCES programs – Entries 25-27  Resident SWD in Other Public Schools – Entries 55-57  Resident Non-disabled students in Other Public Schools - Entries 59-61  Schedules A2 and A4  Schedule U  Schedule B

• Non-resident students included in ADA numbers are deducted as

reported on lines 62-64 of Form A

 The “Weighted” in RWADA is applied to secondary level student

counts reported. The 7-12 ADA numbers are multiplied by 1.25

Your District vs. The Statewide Average

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 Aid ratios are generally impacted by a district’s

wealth per pupil relative to the statewide average.

 Aid ratio may decline if a district’s wealth per

pupil measure is increasing more than the state average.

• Information from lines 15 and 16 of respective TRA Output Reports

2014-15 2015-16 2016-17 2017-18 District AV/RWADA 593,721 585,091 696,925 661,945 Statewide AV/RWADA 680,900 680,400 681,700 702,400 District RWADA ratio 0.850 0.859 1.022 0.942

Transportation Aid – Calculation #2 – Selected Sharing Ratio for Operating Aid

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 Uses Combined Wealth Ratio (CWR) as basis.  CWR compares your district’s property wealth

per pupil and personal income per pupil to the statewide average.

 Pupil count is Total Wealth Pupil Count

(TWPU).

 TWPU count: The same elements as the

RWADA but includes additional weighting for special education students (1.70 for 60% SWD and 0.90 for other SWD counts).

GEN Output Report – Calculation of CWR

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Transportation Aid – Calculation #3 – Enrollment Wealth Ratio

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 Uses all resident students as the pupil count

basis for determining a district’s wealth relative to the statewide average.

 For districts with significant student population

that attends private/parochial schools this may generate the highest aid ratio.

Information from the IMA Output report provides the sources of this student count.

Transportation Aid – Calculation #3 – Enrollment Wealth Ratio – A district that uses this option

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How many non-public resident students does your district have?

Other Data that Impacts Transportation Aid

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 Non-Allowable Pupil Decimal  Other Purpose Miles

Other Data that Impacts Transportation Aid

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Building Selected Aid Ratio: Greatest

• f 3 Wealth Adjusted Aid Ratios

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 Ratio 1: 1999-00 Building Aid Ratio Less 10%  Ratio 2: Full Value (FV)

RWADA

 Ratio 3: Low Income Aid Ratio = 1.263 *

Selected State Sharing Ratio

BOCES Selected Aid Ratio: Greatest

• f 3 Wealth Adjusted Aid Ratios

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 Ratio 1: RWADA Ratio =

1 - Full Value (FV)/RWADA Statewide Average

 Ratio 2: Millage Ratio =

1 - .00800

• r

1 - .00300 Tax Levy/AV Tax Levy/AV

for central HS & their component districts)

 Ratio 3: Minimum Ratio: 36%

Summary – Basis for BOCES Aid

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RWADA Aid Ratio

1 2 3

Selected Aid Ratio Millage Aid Ratio Minimum Aid Check

What Have We Learned?

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Attendance & 180 Day Requirement

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 Ed. Law §3604, 8 NYCRR 175.5  Recommendations from SED’s Advisory

Committee will potentially impact 2018-19 calendars or beyond

180 days of session: Minimum requirement

• r goal?

180 Days of Session

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 At least 180 days  Session Days  September-June

Exception: Superintendent’s Conference Days

in August

 No Session days after June Regents Day

One year waivers sometimes granted

 Minimum Hours Per Day

Attendance & 180 Day Requirement

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 ½ days which DO NOT count toward 180 day

requirement:

 ½ days for elementary students scheduled on days

counted as Regents Exam Days

 ½ days on any ‘end of year’ days scheduled before

Regents Exam Days

 ½ days scheduled before vacation days for any

grade level (such as day before Thanksgiving)

 ½ days scheduled for kindergarten students

enrolled in full day K

 See SED Memo:

https://stateaid.nysed.gov/attendance/attendance_info.htm

Week with a Legal Holiday

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Monday Tuesday Wednesday Thursday Friday

Veterans Day Minimum number of Hours (for a week with a legal holiday): 20 Elementary, 22 for Secondary

6 hours* 6 hours 6 hours 2 hours

Parent/ Teacher Conference

Elementary Level

*Excluding lunch and recess

As minimum weekly hours are met and allowable activity in the P.M. then Monday through Thursday count towards 180 Days of Session

Week with a Superintendent Conference Day

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Monday Tuesday Wednesday Thursday Friday

Superintendent Conference

Elementary Level: Friday has 5 hours of eligible instruction time, therefore day can be counted towards 180 days Secondary Level: Friday doesn’t have 5.5 hours so the remaining days are considered and as they total 29.00 for the week, day is eligible (27.50 hour minimum met). Elementary/Secondary Levels

2 hours 3 hours 6 hours* 6 hours 6 hours 6 hours

*Excluding lunch and recess

For Both Levels: 5 days to count towards 180 Days of Session

June Regents Week

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Monday Tuesday Wednesday Thursday Friday

Regents Day Regents Day Regents Day Regents Day Rating Day

Monday Tuesday Wednesday Thursday Friday

6 hours 6 hours 6 hours 6 hours Secondary Level Elementary Level

3 hours of? 4 Regents Days and 1 Rating Day to count towards 180 Days of Session Only 4 Instructional Days to count towards 180 Days of Session if nothing allowable scheduled for Friday P.M. 2 hours

So...

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 Potential Consequences  Make a difference  Monitor calendar throughout year

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Maximum Cost Allowance for Capital Projects

Maximum Cost Allowance (MCA) Calculation Changes

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 Maximum Cost Allowance = is the maximum

amount of actual construction and incidental expenditures which are aidable under Building Aid.

 Computed by multiplying Building Aidable

Units (BAU) by the most recent regional cost factors and construction project cost index amounts associated with the contract award date of the project.

SA-130 Shows MCA

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$17,604,738 + $4,252,280 = $21,857,018 MCA Note: SA-130 issued after SA-139 submitted

Maximum Cost Allowance

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 Covers a five year rolling period of time  All projects with Commissioner approval dates

within five year period are included

 Issue –

FP-F or Final Cost Reports (FCR) Amounts?

 New method now

Five Year MCA - New Method

 MCA on a new project will be calculated at time of

submittal

 Will use FP-F estimated costs (if no FCR) or FCR amounts (if

done) on previous projects with CAD within 5 years

 Will use current estimate of new project  Amounts in excess of final 5 year MCA go into OFP

project management system as a deduction and is used by the State Aid Unit to determine building aid

 Decision is FINAL per Facility Planning

 No adjustment for older projects with future FCR < FP-F  No adjustment for this project

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Example of MCA Calculation

36  $10,000,000 MCA, 1 project with CAD within 5 years with FCR with

$1,000,000 in costs. New project is estimated at $9,500,000. So…

Projects within 5 years 1,000,000 New Project per FP-F 9,500,000 Total 10,500,000 MCA 10,000,000 Over – minimum portion without Building Aid 500,000 Projects within 5 years 1,000,000 New Project FCR 8,750,000 Total 9,750,000 MCA 10,000,000 No change in amount disallowed for aid 500,000 If final cost are $8,750,000:

MCA – New Method

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 Facilities Planning will check each project’s

MCA against 5 year look back when approving

 SED will review FCR against MCA for

individual project only

 We suggest districts ask for MCA estimate

during planning phase of new projects

 Plan, plan, plan!

 Coordinate timing of FCR of older projects  Coordinate timing of submittal of new project

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Sample of New Form to Calculate 5 Year MCA

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Sample of New Form to Calculate 5 Year MCA

Property Tax Cap – Updates/Common Issues

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 Building Aid for Water Testing/Remediation –

not part of Capital Exclusion

 Update prior year factors?  Full use of Capital Exclusion  Updating calculation throughout year

 Up until when?

 Tax Base Growth Factor changes

 PILOT Legislation?

 BOCES capital exclusion

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http://osc.state.ny.us/localgov/realprop/schools/files/formula.pdf 1 3 2

PILOTS

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 PILOTS receivable – use best estimate  Once an amount is entered, we recommend,

carrying it forward and using in the subsequent year.

Carryover

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 A district has carryover available for the

coming year if it levies less than the “Tax Levy Limit” BEFORE exclusions are added.

 If a district does have a carryover amount, it

is part of the following year’s calculation.

 It cannot be ‘saved’ for a future year.

 Entering information into the portal is the best

way to determine what, if any, carryover is available for your district.

Example of Available Carryover

Capital Tax Levy Exclusions

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 This is the local share for eligible capital

expenditures that a school district incurs.

 Eligible Costs – Related State Aid or Previously

Collected Local Funds = Capital Levy Exclusion

 Guidance Document a:

http://www.p12.nysed.gov/mgtserv/propertytax/taxcap/docs/Property_Tax _%20Cap_General_Guidance_and_FAQS.pdf

provides further details of eligible expenses and related items to deduct from the eligible expenses.

Capital Tax Levy Exclusions

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2016-17 2017-18 General Fund: Debt service payments for capital projects (principal + interest) 1,584,221 1,523,123 Debt service payments for bus purchases (principal + interest) 308,100 323,210 School Bus purchases (cash purchases A5510.210) Lease payments on school buses Energy Performance Contract payments Lease payments on school facilities Interfund transfers to Debt Service Fund to make debt payments related to capital projects or bus purchases NEW DEBT (BAN COSTS ESTIMATED FOR CAPITAL PROJECT) 110,790 340,000 Capital Fund: Project expenses paid for with local funds (capital outlay) 2,003,111 2,186,333 MINUS: Building aid on capital projects to be received for the year 1,577,822 1,647,079 Transportation Aid on capital transportation purchases to be received for the year 182,625 248,580 Bus Purchases paid for with funds held in a capital reserve or insurance proceeds Capital project expenses paid for with funds held in a capital reserve Capital project expenses paid for with EXCEL Funds Transfers from the Debt Service Fund to the General Fund to make debt payments AID ON NEW AUTHORIZATION 1,760,447 1,895,659 Local Capital Levy Exclusion Amount 242,664 290,674

Local Capital Levy Exclusion Calculation

OSC has taken the position that the calculated capital exclusion must be used in the formula, whether you intend to levy for it or not.

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Tax Cap Calculation

2016-17 2017-18 Tax Base Growth Factor

1.0032 1.0030

Allowable Levy Growth Factor (lesser of 2% or CPI)

0.12% 1.26%

Prior Year Tax Levy

7,177,518 7,366,320

Subtract: Reserve Amount (including interest) Prior Year Adjusted Tax Levy

7,177,518 7,366,320

Prior Year Adjusted Levy X Tax Base Growth Factor

7,200,486 7,388,419

Add Pilots Receivable Prior Year Subtract Prior Year Exemptions (not TRS/ERS exemptions): Torts and Judgements Prior Year Local Capital Levy Share

85,361 242,664 Adjusted Prior Year Tax Levy 7,115,125 7,145,755

Adjusted Tax Levy X Allowable Levy Growth Factor (2% or CPI)

7,123,663 7,235,791

Subtract Projected PILOTS Receivable for Coming Year Available Carry Over

Tax Levy Limit 7,123,663 7,235,791

Add Current Year Exemptions: Torts and Judgements ERS Exemption TRS Exemption Coming Year Local Capital Levy Share

242,664 290,674 Tax Levy Threshold 7,366,327 7,526,465 Allowable Increase in Dollars 188,809 160,145 Allowable Increase in % 2.63% 2.17%

Future Capital Exclusion Planning

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 When you look at the components of the tax

cap calculation, the only item that you as a district have direct control over is the Capital Exclusion.

 Due to its nature, (based on debt service and

building aid to a large degree), it is likely that there may be significant fluctuation in the exclusion in some years.

 We recommend maintaining a 5-year forecast

• f the Capital Exclusions.

Questions to Ask

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 Do you have a bus replacement schedule?  How do you pay for your school buses?

 Cash or borrow?

 Do you have new capital projects in the works?  Do you fund capital projects with a Capital

Reserve?

 How will you match up debt service with

expected state aid?

Estimated Capital Exclusion

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2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25 Annual Debt Service 1,584,221 1,523,122 1,522,921 1,520,065 1,519,940 1,521,315 270,553 273,353 136,240 Estimated Debt on New Project 110,790 340,000 910,082 1,890,538 1,893,250 1,889,500 1,893,500 1,889,750 1,893,500 Annual Debt Service on Buses 308,100 323,210 323,210 323,210 323,210 323,210 323,210 323,210 323,210 2,003,111 2,186,332 2,756,213 3,733,813 3,736,400 3,734,025 2,487,263 2,486,313 2,352,950 Annual Estimated Bldg Aid 1,577,822 1,581,654 1,522,597 1,522,597 1,522,597 1,522,597 282,970 282,970 168,788 Estimated Aid on New Project 65,425 397,195 1,583,393 1,583,393 1,583,393 1,583,393 1,583,393 1,583,393 Estimated Aid on Bus Purchases 182,625 248,580 248,580 248,580 248,580 248,580 248,580 248,580 248,580 1,760,447 1,895,659 2,168,372 3,354,570 3,354,570 3,354,570 2,114,943 2,114,943 2,000,761 242,664 290,673 587,842 379,243 381,830 379,455 372,319 371,369 352,189

• 1. Have a debt schedule through to maturity of all debt.
• 2. Prepare a schedule of building aid for all projects currently receiving building aid.
• 3. For new projects work with a financial consultant to project debt service and aid.
• 4. If your district has funds in the Debt Service Fund look at using that to offset years

when debt service and aid may not match up.

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Example of Schedule of Debt Service

CAPITAL PROJECT $14,443,000 Authorization BUDGET YEAR 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 Interest Rate 4.00% 9711.600 BOND-PRINCIPAL 1,035,000 9711.700 BOND-INTEREST 41,400 TOTAL DEBT SERVICE 1,076,400 $5,780,000 Bond Refunding BUDGET YEAR 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 Interest Rate 2.00% 3.00% 4.00% 4.00% 2.00% 2.00% 9711.600 BOND-PRINCIPAL 10,000 1,080,000 1,110,000 1,155,000 1,200,000 1,225,000 9711.700 BOND-INTEREST 161,684 171,500 139,100 94,700 48,500 24,500 TOTAL DEBT SERVICE 171,684 1,251,500 1,249,100 1,249,700 1,248,500 1,249,500 EXCEL Project DASNY Budget Year 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25 Interest Rate 4.00% 4.00% 4.13% 4.25% 4.38% 5.25%/4.6255.25%/4.75 4.75% 4.80% 9711.6 BOND-PRINCIPAL 190,000 195,000 205,000 210,000 220,000 230,000 240,000 255,000 130,000 9711.7 BOND-INTEREST 84,221 76,622 68,821 60,365 51,440 41,815 30,553 18,353 6,240 274,221 271,622 273,821 270,365 271,440 271,815 270,553 273,353 136,240 GRAND TOTAL TOTAL PRINCIPAL 1,235,000 1,275,000 1,315,000 1,365,000 1,420,000 1,455,000 240,000 255,000 130,000 TOTAL INTEREST 287,305 248,122 207,921 155,065 99,940 66,315 30,553 18,353 6,240 TOTAL DEBT SERVICE 1,522,305 1,523,122 1,522,921 1,520,065 1,519,940 1,521,315 270,553 273,353 136,240 BOND WAS REFUNDED - JUNE 2016

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Example of Schedule of Building Aid

Project # CAD 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 Amortized Debt Service 0002-009 5/8/2002 BLD10 5,342 5,342 0002-010 5/30/2006 BLD3 444,678 444,678 444,678 444,678 444,678 444,678 0002-011 12/8/2008 BLD4 68,484 68,484 68,484 68,484 68,484 68,484 68,484 0002-012 10/31/2011 BLD4 17,152 17,152 17,152 17,152 17,152 17,152 17,152 0002-014 3/22/2016 BLD4 75,461 75,461 75,461 75,461 75,461 75,461 0003-008 5/8/2002 BLD10 54,594 54,594 0003-009 5/30/2006 BLD3 627,348 627,348 627,348 627,348 627,348 627,348 0003-010 12/8/2008 BLD4 104,130 104,130 104,130 104,130 104,130 104,130 104,130 0003-011 10/31/2011 BLD4 21,768 21,768 21,768 21,768 21,768 21,768 21,768 0003-012 7/25/2014 BLD4 20,550 20,550 20,550 20,550 20,550 20,550 20,550 0003-014 3/22/2016 BLD4 33,404 33,404 33,404 33,404 33,404 0007-004 5/8/2002 BLD10 2,226 2,226 0007-005 5/30/2006 BLD3 173,028 173,028 173,028 173,028 173,028 173,028 0007-006 12/8/2008 BLD4 67,770 67,770 67,770 67,770 67,770 67,770 67,770 0007-007 10/31/2011 BLD4 3,512 3,512 3,512 3,512 3,512 3,512 3,512 5001-006 5/30/2006 BLD3 59,816 59,816 59,816 59,816 59,816 59,816 AID RATIOS BLD 0.867 0.867 0.867 0.867 0.867 0.867 0.867 BLD10 0.950 0.950 0.950 0.950 0.950 0.950 0.950 BLD3 0.867 0.867 0.867 0.867 0.867 0.867 0.867 BLD4 0.867 0.867 0.867 0.867 0.867 0.867 0.867 CAD < 7/1/2011 0.950 0.950 0.950 0.950 0.950 0.950 0.950 Calculated State Aid 0002-009 5/8/2002 BLD10 5,075 5,075 0002-010 5/30/2006 BLD3 422,444 422,444 422,444 422,444 422,444 422,444 0002-011 12/8/2008 BLD4 65,060 65,060 65,060 65,060 65,060 65,060 65,060 0002-012 10/31/2011 BLD4 14,871 14,871 14,871 14,871 14,871 14,871 14,871 0002-014 3/22/2016 BLD4 65,425 65,425 65,425 65,425 65,425 65,425 0003-008 5/8/2002 BLD10 51,864 51,864 0003-009 5/30/2006 BLD3 595,981 595,981 595,981 595,981 595,981 595,981 0003-010 12/8/2008 BLD4 98,924 98,924 98,924 98,924 98,924 98,924 98,924 0003-011 10/31/2011 BLD4 18,873 18,873 18,873 18,873 18,873 18,873 18,873 0003-012 7/25/2014 BLD4 17,817 17,817 17,817 17,817 17,817 17,817 17,817 0003-014 3/22/2016 BLD4 28,961 28,961 28,961 28,961 28,961 0007-004 5/8/2002 BLD10 2,115 2,115 0007-005 5/30/2006 BLD3 164,377 164,377 164,377 164,377 164,377 164,377 0007-006 12/8/2008 BLD4 64,382 64,382 64,382 64,382 64,382 64,382 64,382 0007-007 10/31/2011 BLD4 3,045 3,045 3,045 3,045 3,045 3,045 3,045 5001-006 5/30/2006 BLD3 56,825 56,825 56,825 56,825 56,825 56,825 1,581,651 1,647,075 1,616,983 1,616,983 1,616,983 1,616,983 377,356 BLD10 Total 59,054 BLD3 Total 1,239,627 BLD4 Total 282,970 BCS Total 13,207 Lead-testing Total 5,476 1,594,858 1,652,551 Aid per SBA Output Report 1,594,858

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What Happens if a District Exceeds its Tax Cap?

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 If a district levies a tax that is greater than the

calculated allowable tax levy and does not ask for and receive the required supermajority, then the excess funds collected must be put into a reserve (deferred revenue).

 The excess is used to reduced the tax levy in

the subsequent year.

 In year three, the excess funds that were

collected then need to be added back to the calculation.

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Tax Cap Calculation When a Reserve is Required

Tax Cap Calculation

2016-17 2017-18 2018-19 Tax Base Growth Factor

1.0000 1.0000 1.0000

Allowable Levy Growth Factor (lesser of 2% or CPI)

0.00% 0.00% 0.00%

Prior Year Tax Levy

5,000,000 5,100,000 4,900,000

Plus: Prior Year Reserve Offset

100,000

Subtract: Reserve Amount (including interest)

(100,000)

Prior Year Adjusted Tax Levy

5,000,000 5,000,000 5,000,000

Prior Year Adjusted Levy X Tax Base Growth Factor

5,000,000 5,000,000 5,000,000

Add Pilots Receivable Prior Year Subtract Prior Year Exemptions (not TRS/ERS exemptions): Torts and Judgements Prior Year Local Capital Levy Share

Adjusted Prior Year Tax Levy 5,000,000 5,000,000 5,000,000

Adjusted Tax Levy X Allowable Levy Growth Factor (2% or CPI)

5,000,000 5,000,000 5,000,000

Subtract Projected PILOTS Receivable for Coming Year Available Carry Over

Tax Levy Limit 5,000,000 5,000,000 5,000,000

Add Current Year Exemptions: Torts and Judgements ERS Exemption TRS Exemption Coming Year Local Capital Levy Share

Tax Levy Threshold 5,000,000 5,000,000 5,000,000 Allowable Increase in Dollars (100,000) 100,000 Allowable Increase in % 0.00%

• 1.96%

2.04%

Actual Levy

5,100,000 4,900,000 5,000,000

2.00%

• 3.92%

2.04% Cash 5,100,000 4,900,000 5,000,000 Tax Revenues (5,000,000) (5,000,000) (5,000,000) Deferred Tax Revenues (100,000) 100,000

2016-17 Financial Statements to be Submitted via SED’s Business Application Portal

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 Paper submissions no longer accepted  Financial submissions for 2016-17 (and all

subsequent years) must now be sent via SED’s business portal.

 Found under SED’s Monitoring and Vendor

Performance System link

 Reporting system became available on

September 1st, 2017

Accessing SED’s Monitoring & Vendor Performance System

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Accessing SED’s Monitoring & Vendor Performance System

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For assistance with SEDDAS contact SED at 518-473-8832 or seddas_help@mail.nysed.gov

http://www.p12.nysed.gov/seddas/seddashome.html

Accessing SED’s Monitoring & Vendor Performance System

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SED’s Monitoring & Vendor Performance System Welcome Screen

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SED’s Monitoring & Vendor Performance System - Submission of Financial Statements

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SED’s Monitoring & Vendor Performance System – Submission of School Safety Data

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Chapter 514 – New Reporting

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 Property Tax Report Card

 Schedule of Reserve Funds

 Name of each reserve fund  Description of its purpose  Balance as of the close of the third quarter of the current

school district fiscal year

 Brief statement explaining any plans for the use of each such

reserve fund for the ensuing fiscal year

 District Website (if any)

 Annual external audit report and corrective action

plan, or any final audit report issued by the State Comptroller’s office

 Final annual budget and multi-year financial plan

adopted by board of education or trustees

STAR Rebate Credit

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Basic STAR exemption or the basic STAR credit: Enhanced STAR exemption or the enhanced STAR credit:

Tax Year 2017 Tax Year 2018 Tax Year 2019 12% 26% 34% Qualified AGI Tax Year 2017 Tax Year 2018 Tax Year 2019 AGI <= $75,000 28% 60% 85% $75,000 < AGI <= $150,000 20.5% 42.5% 60% $150,000 < AGI <= $200,000 13% 25% 35% $200,000 < AGI <= $275,000 5.3% 7.5% 10%

Chapter 20 of the Laws of 2015 amends Section 606 of Tax Law to create a new STAR Rebate for 2016-2019 Credit for 2017 through 2019:

Additional General Updates

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 New ESSA Reporting Requirements

 Reporting of per pupil expenditures by building

level delayed until 2018-19

 SY Child Nutrition Updates

 Are you prepared for the new requirements?  http://www.cn.nysed.gov/upcomingevents#webinar-

jump

 Interest Rate Recalibration in effect – Form FB

Closing Remarks

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 Fall Reminders (see handout)  Questions/Comments

State Aid and Financial Planning Service Questar III BOCES 10 Empire State Boulevard Castleton, NY 12033 (p) 518-477-2635 (f) 518-477-4284 http://sap.questar.org twitter.com/qiiisap - @qiiisap

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Thank You!