Todays Purpose Review the 2018-19 Rollover Budget Budget Timeline - - PowerPoint PPT Presentation

▶
today s purpose
SMART_READER_LITE
LIVE PREVIEW

Todays Purpose Review the 2018-19 Rollover Budget Budget Timeline - - PowerPoint PPT Presentation

Sep 18, 2022 138 likes •396 views

KENMORE-TOWN OF TONAWANDA UNION FREE SCHOOL DISTRICT 2018-19 B UDGET B UDGET W ORK S ESSION B OARD OF E DUCATION M EETING F EBRUARY 6, 2018 We educate, prepare, and inspire all students to achieve their highest potential Todays Purpose Review

slide-1
SLIDE 1

We educate, prepare, and inspire all students to achieve their highest potential

KENMORE-TOWN OF TONAWANDA UNION FREE SCHOOL DISTRICT

2018-19 BUDGET BUDGET WORK SESSION

BOARD OF EDUCATION MEETING FEBRUARY 6, 2018

slide-2
SLIDE 2

Today’s Purpose

Review the 2018-19 Rollover Budget

slide-3
SLIDE 3

Budget Timeline

slide-4
SLIDE 4

Budget Development Timeline

11/14/17 BOE Meeting Primary Financial Considerations 1/9/18 BOE Meeting Budget Development Update 2/6/18 Budget Work Session Rollover Budget 3/27/18 Budget Work Session Development Update 5/8/18 BOE Meeting Budget Hearing 3/6/18 Budget Work Session First Draft Budget 4/10/18 BOE Meeting Budget Adoption 5/15/18 Budget Vote

slide-5
SLIDE 5

Budget Development Status

slide-6
SLIDE 6

Budget Development Status

  • Healthcare budget reviewed: 1/24/18
  • BOCES budget reviewed: 1/30/18
  • Analyzing state revenue projections
  • Continued focus on aligning expenditures
  • Continue with reserves plan
  • Strategic Plan
slide-7
SLIDE 7

Capital Expenditures

slide-8
SLIDE 8

Debt Service

  • $12.2 million total debt service
  • Additional $727,000 in P&I payments
  • Aid payments originally ahead of debt
slide-9
SLIDE 9

Transportation

1 2 4 12 10 18 7 3 5 6 15 1 25 8

5 10 15 20 25 30 2002 2005 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Age of Fleet

slide-10
SLIDE 10

Transportation

  • Goal: 10 year replacement cycle
  • 2018-19 Proposition
  • 9 Micro Bird G5 (30 passenger)
  • 3 Micro Bird G5 (24 passenger, Wheel Chair)
  • Total Cost: $754,711
  • 70% aided by New York State
  • Total Cost to District: $226,413
slide-11
SLIDE 11

Rollover Budget: Expenditures

slide-12
SLIDE 12

Rollover Expenditure Budget

2017-18 Budget $160,656,978

  • Contractual Increases

$1,949,279 2.36% Health Insurance $0 0% BOCES Services TBD *3% Retirement Cont., FICA $1,094,254 3.11% Debt Service $726,932 6.35% Per Student Allocations $25,020 6.29% Charter School Tuition $130,000 4.86% Total Increases $3,925,485

2018-19 Budget $164,582,463

2.44%

* Estimated rate increase

slide-13
SLIDE 13

Tax Levy Limit (Tax Cap)

slide-14
SLIDE 14

Tax Cap – The Formula

slide-15
SLIDE 15

Tax Cap – The Formula

3 pt A 17-18 Tax Levy $82,390,409 B Tax Base Growth Factor 1.0024 C A * B $82,588,146 D Base Year PILOTs $1,153,969 E C + D $83,742,115 F 17-18 Capital Tax Levy $830,508 G E - F $82,911,607 H Growth Factor (CPI) 2% I G * H $84,569,839 J 18-19 PILOTs $1,052,983 K Levy Before Exclusions (I – J) $83,516,856 L 18-19 Capital Tax Levy $1,920,624 18-19 Exclusions 2018-19 Tax Levy Limit $85,437,480

Property growth in Town and Village CPI or 2%, whichever is lower Decrease of $100,986 Local Share (+$1,090,116)

3.70%

slide-16
SLIDE 16

State Aid

slide-17
SLIDE 17

State Aid Executive Proposal – Projections Ken-Ton Highlights

  • Foundation Aid
  • $635,887 = 1.68%
  • Charter School Transitional Aid:
  • $134,681 = -68.18%
  • Building Aid:
  • Understated on Governor’s Run
  • $1,671,530 = -16.38%
  • BOCES Aid:
  • $458,962 = -10.78%

T

  • t

a l A i d I n c r e a s e :

  • 2

. 3 1 %

slide-18
SLIDE 18

Foundation Aid Comparison

$0 $10 $20 $30 $40 $50 $60 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 $32 $36 $36 $36 $36 $36 $36 $37 $37 $37 $38 $46.8 $48.0 $49.3 $46.0 $54.4 $49.7 $47.2 $46.3 $44.9 $44.4 $43.5

Ken-Ton Foundation Aid History (In Millions)

Actual Fully Funded

$127 Million Underfunded

slide-19
SLIDE 19

State Aid Comparison

$- $10.0 $20.0 $30.0 $40.0 $50.0 $60.0 $70.0 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 $47.8 $43.7 $40.2 $38.5 $38.8 $40.0 $42.1 $47.1 $49.0 $51.4 $4.3 $4.6 $4.8 $4.9 $7.7 $7.2 $7.4 $7.3 $7.6 $10.2

Ken-Ton State Aid History (In Millions)

State Aid w/o Building Aid Building Aid

slide-20
SLIDE 20

Rollover Budget: Revenues

slide-21
SLIDE 21

Rollover Revenue Budget

2017-18 Revenue $160,656,978

  • Tax Levy

$1,647,808 2% Debt Service Reserve $1,000,000

  • %

BOCES Aid $150,000 4.48% Miscellaneous $186,600 46% PILOTs

  • $100,986
  • 8.75%

State Aid

  • $792,000
  • 1.46%

Total Increases $2,091,422

2018-19 Revenue $162,748,400

1.3%

slide-22
SLIDE 22

Budget Gap

$162,748,400 $164,582,463

$155,000,000 $156,000,000 $157,000,000 $158,000,000 $159,000,000 $160,000,000 $161,000,000 $162,000,000 $163,000,000 $164,000,000 $165,000,000

Revenues vs. Expenditures

Revenues Expenditures

Total Budget Gap: $1,834,063

slide-23
SLIDE 23

Continuing Budget Development

slide-24
SLIDE 24

Continuing Budget Development

  • Close budget gap
  • Finalize all revenue projections
  • Monitor state revenue

developments

  • 3/1/17 – Retirement notification
  • Continue to review staffing
  • Monitor/update fund balance

projections

  • Prioritize additions to 2018-19
  • Strategic Planning Impacts
slide-25
SLIDE 25

QUES

ESTIONS NS?

Thank ank y you f

  • u for y
  • r your s
  • ur sup

uppor

  • rt!

Vi Visit t www.k .ktuf ufsd.o .org/bud udget for m more inf e informatio ion KE KENMORE-TO TOWN OF TO TONAWANDA UN UNION FREE SCHOOL L DISTR TRICT 1500 Colvin Blvd. Buffalo, NY 14223 (716) 874-8400 www.ktufsd.org