Waterford-Halfmoon UFSD 2020-21 Budget Planning Board of Education - - PowerPoint PPT Presentation
Waterford-Halfmoon UFSD 2020-21 Budget Planning Board of Education Finance Committee Meeting April 2, 2020 2020-21 Budget Timeline On March 30, 2020, the Governor signed Executive Order 202.13 postponing both BOE election and budget votes
Board of Education Finance Committee Meeting April 2, 2020
On March 30, 2020, the Governor signed Executive Order
As of April 23, 2020, NYS has still not yet set a date for
The WHUFSD BOE may be asked to adopt the budget on
May 2020: Tentative assessment rolls published. Property tax report card is due within 24 hours of budget approval July 2020: Final assessment rolls published. August 2020: Adopt the tax levy and warrant.
February 12:
Historic Trends, Current Position
Vision, Long-Term Planning
2020-21 Budget at a Glance
March 5:
Update
2020-21 Revenues: Detailed Review and Discussion
April 2:
Update
NYS Budget and COVID-19 Budget Impact
2020-21 Appropriations: Detailed Review and Discussion
April 23:
Update
2020-21 Budget: Detailed Review and Discussion of Budget Reductions
The NYS Legislative Budget reduced foundation aid for all
2020-21 Executive Budget Proposal:
Represented a 1.46% or $120,000 increase from 2019-20
Includes a $25,000 Community Schools Set Aside
2020-21 Legislative Budget Proposal:
Approximately $100,000 less than the Executive Budget;
Foundation aid was held at the 2019-20 amount
The $25,000 Community School Set Aside was removed
Includes a $166,000”Pandemic Adjustment” reduction in addition to the above $100,000 reduction. This amount is offset by a $166,000 addition for “Federal Cares Restoration.” This is derived from the Federal stimulus package and it is believed that we can rely
If NYS revenues and expenditures do not meet targets
If NYS revenues and expenditures do not meet targeted
April 1 – April 30 May 1 – June 30 July 1 – December 31 January 1 – March 31 WHUFSD MAY face additional State aid cuts in 2020-21.
How much our State aid may be reduced throughout the
When those reductions will occur (i.e., after certain
How we will be impacted by the potential State aid
Will we be forced to reduce services? Will we be forced to reduce staffing?
The delay of the budget vote has afforded us additional flexibility to review the budget and make changes to accommodate the reduction in State aid (Foundation aid)
These proposed changes will be presented to you today.
Such reductions are likely to occur after our budget has been approved by the voters and our warrant is adopted by the BOE.
Rather than making additional reductions to our budget now, we advocate for, and have begun identifying areas to be reduced during the fiscal year – also to be presented to you today.
We must be prepared to make even further reductions during the fiscal year.
Budget to the Legislative Budget
reduction in appropriations.
1 This column reflects changes from the March 5th budget draft to the April 23rd budget draft. 2 This includes $22,000 appropriated from the Retirement Contribution Reserve (NYSLRS).
03/05/20 04/02/20 04/23/20 21,196,493 21,739,256 21,739,256 21,536,060 (203,196) 11,261,368 11,570,000 11,570,000 11,570,000
8,580,000 8,472,100 8,472,100 (107,900) Excess of Expenditures Appropriated Fund Balance and Reserves2 Other Revenues Tax Levy (95,296)
1,589,256 1,589,256 1,493,960 2020-21 Budget Total Appropriations Budget Updates1 2019-20 Budget
in the tax levy was caused by revenues being essentially held flat from 2019-20.
$ Change % Change 21,196,493 21,536,060 339,567 1.60% 11,261,368 11,570,000 308,632 2.74% 8,463,392 8,472,100 8,708 0.10% 1.51% Other Revenues Appropriated Fund Balance and Reserves2 1,471,733 1,493,960 22,227 2019-20 Budget Total Appropriations Tax Levy 2020-21 Budget Change from 2019-20
2019-20 Budget 03/05/20 04/23/20 $Change $ Increase % Increase Salaries 9,057,644 9,063,159 9,059,864 (3,295) 2,220 0.02% Benefits 4,134,500 4,405,000 4,420,000 15,000 285,500 6.91% Contractual 2,192,335 2,518,880 2,443,159 (75,721) 250,824 11.44% BOCES 2,461,650 2,460,000 2,419,600 (40,400) (42,050)
Debt 2,284,910 2,270,420 2,270,420
Other 747,966 749,697 761,517 11,820 13,551 1.81% Equipment 187,488 141,500 30,900 (110,600) (156,588)
Transfers 130,000 130,600 130,600
0.46% TOTAL 21,196,493 21,739,256 21,536,060 (203,196) 339,567 1.60% Appropriation Category Change from 2019-20 2020-21 Budget
Salaries: Minimal increase in the general fund due to
Reduced curriculum development by $3,295 but still left some
funds in the budget for curriculum development.
Benefits: Increase due to health insurance rate increase
Increased the unemployment insurance appropriation by $15,000
as a precaution for 2020-21.
Contractual: Primarily related to transportation
In total, reduced $75,721 from the March 5th budget draft. Minor increases and decreases in several accounts.
Notable changes include:
$70,000 reduction in contract transportation appropriations $10,000 reduction in construction (architecture) costs which
will be funded by the capital projects fund.
BOCES: Decrease in anticipated BOCES services costs.
Reduced $40,400 over various BOCES codes. This reduction is
primarily related to BOCES cost reduction steps that have been taken since April 1.
Debt: Based on our actual debt service payment
Other: Includes primarily supplies & materials,
Increase $10,800 related to decreases in other areas (i.e., athletic
materials increased because athletic equipment decreased).
Equipment: Reduction primarily due to removal of
Reduced $100,600 Furniture purchases eliminated from budget ($20,000) Building and grounds equipment reduced $39,000 from
$40,000 to $1,000
Computer equipment (hardware) reduced by $48,000 Athletic equipment reduced by $3,600 Interfund Transfers: 100k Project Transfer & Federal
Tentative 2020-21 Tax Levy: $11,570,000 Is within the tax levy limit ($852 less than the limit) Tentative Tax Rate: $17.58 NOTE: The above tax rate and information illustrated below are
based on 2019-20 assessed values. This information will change when final assessment rolls are released.
Increasing the tax levy by $100,000 would result in a
Exceed the tax levy limit ($99,148 over the limit) Would require a 60% supermajority vote to pass Tentative Tax Rate: $17.73 NOTE: The above tax rate and information illustrated below are
based on 2019-20 assessed values. This information will change when final assessment rolls are released.
2019-20 2020-21 Increase Waterford 100,000 $ 100 100,000 $ 1,711.02 $ 1,773.10 $ 62.09 $ Halfmoon 57,250 $ 57.25 100,000 $ 1,711.02 $ 1,773.10 $ 62.09 $ Municipality Full Market Value Assessed Value Equalization Rate Taxes Without STAR
Revenues > budgeted. Expenditures < planned. Will result in a deficit of
about $89,000 – this may vary significantly depending on the length of the school closure and the fiscal impact of other COVID-19 related activities.
This deficit will cause a
decline in in fund balance.
Total Fund Balance 06/30/2019 8,108,631 $ Budget Projected Revenues 19,724,760 $ 19,859,000 $ Expenditures 21,196,493 $ 19,948,000 $ Results of Operations (1,471,733) $ (89,000) $ Projected Fund Balance 06/30/20 8,019,631 $ June 30, 2019 June 30, 2020 Actual Projected Total Restricted Fund Balance 4,727,948 $ 5,080,307 $ Total Assigned Fund Balance 1,784,438 $ 1,675,000 $ Unrestricted Fund Balance 1,596,245 $ 1,264,324 $ TOTAL FUND BALANCE 8,108,631 $ 8,019,631 $ Ensuing Year Appropriations 21,196,493 $ 21,739,256 $ Unrestricted Fund Balance as a Percent
7.53% 5.82% 2019-20 Results of Operations and Fund Balance Projection* Fund Balance Composition * Prepared using data available as of April 21, 2020
Spend 75% of the budget or less where possible
We’ve already asked faculty and staff to limit material and
The total materials and supplies budget is approximately
We may spend less than budgeted in other areas as
Foundation aid for 2020-21 is $4.5 million
20% of this is $900,000
Two options:
1.
2.
purpose
We are entering the 2020-21 budget with multiple
We must prepare for the worst but hope for the best. Whatever happens, the Waterford-Halfmoon UFSD team