DISCUSSION ITEMS 2 Highlights of state budget released March 31 st State aid included in 2019-20 budget Proposed revenue budget Proposals to close remaining gap in expenditure budget 4/3/2019
STATE BUDGET HIGHLIGHTS 3 Permanent 2% property tax cap BOCES Capital Exemption Teachers Retirement Reserve Salary cap for BOCES District Superintendents Allowing transportation “piggybacking” by school districts Equity Plan – more flexibility, reduces number of schools/districts, report how schools prioritized 4/3/2019
2019-20 STATE AID 4 2019-20 Legislative 2019-20 Budget run Budget $ 9,080,423 $ 9,080,423 Foundation Aid $ (9,000) Deduct for local share $ 1,009,843 $ 1,009,843 Boces $ 175,085 $ 175,085 High Cost $ 647,694 $ 647,694 Private Cost $ 24,681 $ 24,681 Hardware/Tech $ 111,521 $ 111,521 Software/Library/Textbook $ 1,314,665 $ 1,309,262 Transportation $ 142,423 $ 142,423 Charter School $ 12,506,335 $ 12,491,932 Total without Bldg Aid $ 3,885,587 $ 3,885,587 Building Total with Bldg Aid $ 16,391,922 $ 16,377,519 $ 126,140 $ 126,140 Universal Pre K Grant ‐ F Fund Total $ 16,518,062 $ 16,503,659 4/3/2019
2019-20 REVENUE ESTIMATES 5 2018-19 2019-20 Increase State Aid $ 15,256,543 $ 16,377,519 $ 1,120,976 Tax Levy 12,544,319 12,782,661 238,342 Other 1,699,659 2,078,990 379,331 Estimated Revenue 29,500,521 31,239,170 1,738,649 Appropriated Fund Balance 3,115,598 2,890,819 (224,779) Planned Used of Reserves 270,000 224,779 (45,221) Total Revenue Budget $ 32,886,119 $ 34,354,768 $ 1,468,649 State Aid estimates per state budget released March 31st Building aid increase of $753,889 due to 1 st impact of 2016 Project Tax levy increase of 1.9% (under tax cap of 3.02%) “Other” includes $170,000 transfer from debt service fund Appropriated fund balance reduced by $224,779 and is in line with total contingency included in draft expenditure budget 2019-20 planned use of reserves equals Project Achieve total 4/3/2019
2019-20 DRAFT EXPENDITURE BUDGET 6 Changes since 2 nd draft on 3/6/19: $17,987 reduction in wages & benefits due to position changes $28,892 reduction in BOCES services – primarily tuition $9,631 reduction in maintenance projects - encumber 2018-19 funds TOTAL EXPENDITURE REDUCTION $56,510 4/3/2019
2019-20 BUDGET GAP 7 Estimated Draft Budget Revenue Expenses $34,316,710 $34,411,278 GAP Gap as of $94,568 March 20 th Need to utilize a combination of the following to close the gap: Final state budget due April 1 st – additional state aid increase of $38,058 1. 2. Cut additional costs – cost reductions of $56,510 3. Reconsider increase to tax levy – stay at 1.9% increase 4/3/2019
2019-20 BUDGET GAP 8 Estimated Draft Budget Revenue Expenses $34,354,768 $34,354,768 GAP Gap as of $0 April 3rd 4/3/2019
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