1 Passaic Valley Regional High School 2017-2018 Budget Presented By: Dr. JoAnn Cardillo, Superintendent Mr. Colin Monahan, Business Administrator Date: April 25, 2017
Budget Basics 2 ➢ Revenue – Appropriations = Tax Levy ➢ TAX LEVY- portion of the budget supported through local taxes
Revenue Sources 3 ➢ Tax Levy - $25,250,755.00 ➢ State Aid - $1,013,467.00 ➢ Budgeted Fund Balance - $1,459,008.00 Fund Balance by Law - $1,297,478.00 Appropriation of Excess Surplus - $161,530.00
Revenue Sources 4 ➢ Tuition - $325,000.00 ➢ Extraordinary Aid - $125,000.00 ➢ Grants - $404,201.00 (NCLB & IDEA) ➢ Debt Service Aid - $208,204.00 ➢ Medicaid Reimbursements - $26,013.00 ➢ Other - $35,000.00 ➢ Capital Reserve Interest - $700.00
Grants 5 Passaic Valley has contracted with Millennium Grant Writers ➢ Passaic Valley has currently applied for 5 grants and received 1 in the amount of $2,000.00 Passaic Valley has partnered with the Township of Little Falls for an Open Space Grant ➢ Grant is up to $220,000.00 for Running Track refurbishing Passaic Valley has received Private Grants for the Courtyard Projects ➢ BASF $5,000.00 ➢ KOHL’S $3,000.00 ➢ Landsberger Foundation $7,500.00
State Aid 6 Passaic Valley received the LOWEST amount of state aid of any regional school in Passaic County ➢ Passaic Valley - $1,013,467.00 ➢ Lakeland - $4,837,506.00 ➢ Manchester - $6,588,302.00
State Aid 7 ➢ 2013-2014 - $966,858.00 (Flat from 2012-2013) ➢ 2014-2015 - $ 995,578.00 .0297% (PARCC & Per Pupil Growth) ➢ 2015-2016 - $995,578.00 0% ➢ 2016-2017 - $1,013,467.00 .0180% ➢ 2017-2018 - $1,013,467,00 0% ➢ Summary: NO significant increases over the last 5 years, in fact we have lost over 2 million dollars in state aid funding. If the formula was utilized we would receive over 1.4 million per year.
Expenditures 8 Instruction/Benefits ➢ ❑ Regular - $14,466,175.00 (Includes Guidance, Health Services & Media) ❑ Special Education - $5,842,399.00 (Includes Child Study Team, OT/PT) ➢ Athletics/Student Activities - $1,213,991.00 ➢ Transportation - $ 1,832,401.00 ➢ Facilities - $ 2,968,630.00 (Includes salaries) ➢ Capital Outlay - $623,234.00 (Projects, equipment and school bus) Operational Cost/Administration - $1,772,113.00 ➢ ❑ Passaic Valley Maintains a low administrative cost limit - $1,752.00 ❑ Northern Region Limits - $2,191.00
Budget 2017-2018 9 2017 - 2018 Current Expense Tax Levy $25,250,755.00
Debt Service 10 ➢ DEBT REMAINING ❑ 2003 Renovations - $2,255,000.00 (upgrade wiring, fire alarm system, emergency lighting and exit signs, masonry repairs, parking lot and drainage repairs.) ❑ 2010 Renovations - $6,788,000.00 (roofing, heating/boiler, windows, paving.) ➢ DEBT REDUCTION ❑ Past Projects Under Budget, Remaining Monies Offset Debt - $17,713.00 Good News, Paid Off Debt Decreased Taxes ➢ DEBT SERVICE – COSTS for 2017-2018 Little Falls ($ 1.47) Totowa ($ 2.49) Woodland Park ($ 2.90)
Land Sale 11 ➢ 2016-2017 the Passaic Valley Board of Education completed selling a portion of land to Shop-Rite for $700,000.00. ➢ The Board of Education created an Ad Hoc Committee to assess the needs of the school district. ➢ The Ad Hoc Committee recommended the monies be budgeted for the following needs: education, technology, facilities and security.
Capital Projects 12 Technology ➢ Improvements to Infrastructure – Upgrades to wireless network and security – To accommodate the Bring Your Own Device initiative. ➢ Education Renovations to science lab ➢ Facilities Running Track Locker-Room/Showers/Ventilation ➢ Security Security Door Locks
Capital Projects 13 Budget Improvements to Infrastructure – $150,000.00 (County Approval to appropriate in the 2016-2017 Budget) Budget 2017-2018 Running Track - $220,000.00 (Pending approval of the Little Falls Open Space grant, monies will move back to Capital Reserve) Locker-Room/Shower/Ventilation - $124,000.00 Science Lab Renovations - $110,000.00 Security Door Locks - $30,000.00 Total - $484,000.00 Remaining monies will stay in Capital Reserve for future projects.
Budget 2017-2018 14 Operating Budget $ 28,718,943.00 Grants and Entitlements $ 404,201.00 Debt Service $ 799,564.00 Total Budget $ 29,922,708.00
Budget 2017-2018 15 ➢ Appropriations $29,922,708.00 Up .0464% ➢ Revenue $ 3,468,188.00 Up 27% ➢ Tax Levy $25,250,755.00 Up .0249% With the use of a Healthcare cost adjustment in the amount of $121,520.00, the School District was allowed to increase the budget over 2%.
Tax Calculations 16 Regional Allocations 2016-2017 2017-2018 ➢ Little Falls 29.0000869 % 29.4179374 % ➢ Totowa 38.0423179 % 37.5627497 % ➢ Woodland Park 32.9575952 % 33.0193129 % Regional Allocations are determined by a State Calculation
Tax Calculations 17 Little Falls Average Estimated Estimated Assessed School School Ratables Tax Levy Tax Rate Property Tax Tax Monthly Annual A B B/A C [C*(B/A)]/12 C*(B/A) 2016-2017 General Fund $1,482,180,300 $7,144,607 0.004820336 $302,000 $121.31 $1,455.74 Debt Service Fund $1,482,180,300 $176,167 0.000118857 $302,000 $2.99 $35.89 2017-2018 General Fund $1,488,978,400 $7,428,251 0.004988824 $303,700 $126.26 $1,515.11 Debt Service Fund $1,488,978,400 $168,755 0.000113336 $303,700 $2.87 $34.42 Difference General Fund 6,798,100 283,644 0.00016849 1,700 $4.95 $59.36 Debt Service Fund 6,798,100 (7,412) (0.00000552) 1,700 (0.12) (1.47) TOTAL 276,232 0.00016297 $57.89
Tax Calculations 18 Totowa Average Estimated Estimated Assessed School School Ratables Tax Levy Tax Rate Property Tax Tax Monthly Annual A B B/A C [C*(B/A)]/12 C*(B/A) 2016-2017 General Fund $2,296,097,333 $9,372,298 0.004081838 $397,000 $135.04 $1,620.49 Debt Service Fund $2,296,097,333 231,096 0.000100647 397,000 3.33 39.96 2017-2018 General Fund $2,273,354,614 $9,484,878 0.004172195 $395,300 $137.44 $1,649.27 Debt Service Fund $2,273,354,614 215,478 0.00947842% 395,300 3.12 37.47 Difference General Fund -$22,742,719 $112,580 0.00009036 ($1,700) $2.40 $28.78 Debt Service Fund -22,742,719 -15,618 (0.00000586) (1,700) (0.21) (2.49) TOTAL $ 96,962 0.00008449 $26.29
Tax Calculations 19 Woodland Park Average Estimated Estimated Assessed School School Ratables Tax Levy Tax Rate Property Tax Tax Monthly Annual A B B/A C [C*(B/A)]/12 C*(B/A) 2016-2017 General Fund $1,651,947,906 $8,119,600 0.004915167 $343,463 $140.68 $1,688.18 Debt Service Fund $1,651,947,906 $200,207 0.000122 $343,463 3.49 41.90 2017-2018 General Fund $1,674,080,080 $8,337,626 0.004980422 $344,741 $143.08 $1,716.96 Debt Service Fund $1,674,080,080 189,414 0.000113145 $344,741 3.25 39.01 Difference General Fund $22,132,174 $218,026 0.000065255 $1,278 $2.40 $28.78 Debt Service Fund $22,132,174 -10,793 0.000008434 1,278 (0.24) (2.90) TOTAL $207,233 0.000073689 $25.88
Tax Summary 20 Annual Monthly ➢ Little Falls $57.89 $4.83 ➢ Totowa $26.29 $2.19 ➢ Woodland Park $25.88 $2.16
Cost Savings 21 ➢ Power Purchase Agreement for solar energy ➢ Partnership with PCESC - Transportation ➢ Cooperative Purchases - Various Educational Service Commissions ➢ PVRHS Education Foundation - Sponsorship of Summer Performing Arts, STEAM and Culinary camps, college scholarships, SAT & PSAT testing, mini grants, and the Courtyard Project.
Shared 22 Services/Partnerships ➢ Sharing Passaic Valley gymnasium and athletic fields with local recreational programs ➢ Contract with BCESC to oversee Autism program Juvenile Justice Committee utilizes Passaic Valley classrooms ➢ Use of facilities for local elections ➢ PD through Montclair State University - Network for Educational Renewal ➢ ➢ Partnerships with Kean and Farleigh Dickinson Universities Italian Class/STEM I - 8 th Grade offerings at Passaic Valley ➢ William Paterson University PD Network ➢ Kean College Holocaust Program ➢ ➢ City Green - Courtyard Project ➢ Kohl's - Courtyard Project ➢ Members of New Jersey Educational Computing Cooperative
Operational Upgrades 23 ➢ AESOP: Substitute and absence recording program - Implemented and fully operational. ➢ VERI TIME: In and Out procedures. Currently implementing pilot with teachers and aides. Phasing in balance of staff beginning July 2017. Cost effective and aligned with FMLA. ➢ APPLITRACK: In Process to be implemented in 17-18 school year. Handles all human resources documents , new and current employees applying for stipend work includes coaching, tutoring and home instruction. ➢ NEW PV WEBSITE: Complete and operational. ➢ SOCIAL MEDIA: Facebook page completed and gaining momentum. ➢ PARCC: Completed testing cycle in 11 days down from 18.
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