Holland Central Schools 2019-2020 BUDGET PRESENTATION DRAFT #3 - PowerPoint PPT Presentation

Holland Central Schools 2019-2020 BUDGET PRESENTATION DRAFT #3 – March 25, 2019 PRESENTED BY: Cathy V. Fabiatos, Superintendent Thomas T. Murphy, Director of Finance Carl Guidotti, HS-MS Principal Laurie Gregory, Director of Curriculum Erik Smith, Director of PPS

PRESENTATION OVERVIEW ➢ REVIEW AND DISCUSS: • Consolidated budget projection with all programs included • State approved tax levy limit and estimated use • Revised revenue estimates • Updated budget gap • Options to consider in eliminating gap • Recommendations for managing 2019-20 budget ➢ REVIEW AND DISCUSS RELATED DIRECTIONS AND PARAMETERS FROM THE BOARD ➢ TAX CAP SUBMISSION ➢ NB: INFORMATION PRESENTED IS PRELIMINARY AND ESTIMATES ARE NOT FINALIZED ➢ SUMMARY ➢ QUESTIONS

CONSOLIDATED BUDGET PROJECTION ➢ ESTIMATED BUDGET NUMBERS NOW INCLUDE: • Continuation of all existing programs • Appropriation adjustments to match anticipated expenditures Appropriation retention anticipating unexpended funds (contingency) • Appropriations for new Principal • Appropriations for new Math and Special Education teachers • Three teacher aides

New Programs ➢ Principal $135,000 ➢ Math Teacher $70,000 ➢ Special Education Teacher $70,000 ➢ 3 Teacher Aides $105,000 _______________________________________ ➢ 19-20 Additions: $380,000

Budget Summary ➢ 2018-2019 Appropriation $19,476,558 ➢ 2019-2020 Appropriation $20,472,472 (+5.11%) Values Presentation #2 Workshop Presentation #1 Expenditure Type 2019-20 Budget 2018-19 Budget 2/25/2019 2/11/2019 1/28/2019 Contractual Salaries $9,376,695 $8,763,676 $9,459,695 $9,800,934 $9,579,471 Utilities $285,300 $314,300 $288,300 $288,300 $268,300 BOCES $3,055,676 $3,139,867 $3,130,176 $3,580,436 $3,280,437 Special Ed Tuitions $353,447 $382,500 $373,447 $373,447 $373,447 Retirement, Soc Sec, WC $1,961,243 $1,916,532 $1,961,243 $2,028,842 $1,960,684 Health Insurance $2,143,361 $1,882,200 $2,143,361 $2,280,100 $1,978,071 Debt Service $1,388,561 $1,085,187 $1,388,561 $1,388,561 $1,388,561 Aidable Books and Hardware $21,240 $20,320 $21,240 $21,240 $2,140,545 Contractual/Purch Svc $1,099,046 $1,164,996 $1,188,046 $1,190,021 Equipment $98,200 $93,000 $98,200 $218,200 Interfund Transfer $195,000 $195,000 $195,000 $195,000 Supplies/Materials $437,524 $461,800 $460,024 $586,524 Textbooks $57,180 $57,180 $57,180 $29,560 Grand Total $20,472,472 $19,476,558 $20,764,472 $21,981,165 $20,969,516 5.11% 6.61% 12.86% 7.67%

Revenue Summary ➢ 2018-2019 Appropriation $19,076,558 ➢ 2019-2020 Appropriation $20,356,772 (+6.71%) Presentation #2 Workshop Presentation #1 Revenue Type 2019-20 Budget 2018-19 Adopted 2/25/2019 2/11/2019 1/28/2019 Interfund & Approp FB $ 550,000 $ 70,503 $ 550,000 $ 550,000 $ 550,000 Medicaid $ 50,000 $ 100,000 $ 50,000 $ 50,000 $ 50,000 Misc $ 366,565 $ 364,800 $ 366,565 $ 366,565 $ 366,565 Property Tax Levy $ 7,556,389 $ 7,335,503 $ 7,554,922 $ 7,482,213 $ 7,482,213 Sales Tax $ 1,010,000 $ 1,000,000 $ 1,010,000 $ 1,010,000 $ 1,010,000 State Aid $ 10,823,818 $ 10,205,752 $ 10,823,818 $ 10,823,818 $ 10,823,818 Grand Total $ 20,356,772 $ 19,076,558 $ 20,355,304 $ 20,282,596 $ 20,282,596 6.71% 6.70% 6.32% 6.32% ➢ 19-20 Additions included: • Tax Cap to 2.98% - Additional $71,895… 2/11 workshop did not include growth factor

Tax Cap Tax Levy change over 12 years… ➢ 2007-2008 $7,493,288 ➢ 2018-2019 $7,335,503 ➢ Reduction of Levy: ($157,785)*compounding affect Tax Levy % Increase over 12 years… ➢ 2007-2008 4.8% ➢ 2018-2019 1.98% (*16-17 0%, 17-18 0%)

Tax Cap – 2.98% Tax Levy Limit Before Adjustments and Exclusions 2018-19 Tax Levy 7,335,503 x Tax Base growth factor 1.0067 determined by Dept of Tax & Finance 7,384,651 + PILOTS receivable in 2018-19 0 budgeted 17/18 - Capital Tax Levy for 2018-19 0 entered for 17/18 7,384,651 x Allowable Levy growth factor (CPI) 1.0200 determined by Office of State Comptroller 7,532,344 - PILOTS receivable in 2019-20 0 budgeted 17/18 + Prior year available carryover 112,515 available rollover from prior year - see carryover t Total Levy Limit Before Adjustment and Exclusions $ 7,644,859 309,356 4.217% Exclusions Tax Levy necessary for expenditures arising + out of tort orders/judgements over 5% of 2016-17 tax levy 0 none Tax Levy necessary for pension contribution expenditures in excess of 2%: + ERS 0 increase not greater than 2% + TRS 0 increase not greater than 2% + Capital Tax Levy for 2017-18 0 see capital exclusion tab Total Exclusions 0 TAX Levy Limit, adjusted for transfers,plus exclusions $ 7,644,859 $ 7,644,858.89 $ 309,356 4.217% $ OSC Submission $ 7,628,923 $ 7,628,923.12 $ 293,420 4.000% $ $ 15,936 $ 7,555,568.09 $ 220,065 3.000% $ $ 7,554,834.54 $ 219,332 2.990% $ $ 7,554,100.99 $ 218,598 2.980% $ $ 7,482,213.06 $ 146,710 2.000% $

Budget Summary Reductions in appropriations not utilized in current and past budgets. These changes would not diminish current expenditure trends. ➢ Adjusted 19-20 Appropriations $20,472,472 (Includes changes to Appropriations $1,508,693) ➢ Revenues and Approp. Fund Balance $20,356,772 ➢ Current Budget Gap: $117,168 NB ( NB : Includes support from Fund Balance $400,000) ➢ GAP without appropriated Fund Balance $117,168 + $400,000 = $517,168

Appropriations to Offset Fund These adjustments would not diminish current expenditure trends. ➢ Reductions – Transportation/B&G $150,000 ➢ Reductions - PPS $143,000 ➢ Total: $293,000 *No services affected Remaining Deficit $117,168 Deficit $117,168 FB $400,000 Total $517,168 ➢ Deficit - potential offsets include additional state aid, retirement ➢ 2019-20 budget should be managed to target this minimum balance

Estimated Tax Impact 2019-20 2018-19 House Tax Rate Tax Rate Assessed 2019-20 per $1,000 per $1,000 Dollar Value Town Original Equalization School of Assessed of Assessed Amount 100000 $ 3,238 Town Rate(1&2) Levy Value Value Increase AURORA 35.00% $ 214,055.95 $ 37.955384 37.039492 0.92 100 $ 3,796 COLDEN 40.00% $ 1,587,712.40 $ 33.193303 32.392324 0.80 100 $ 3,319 CONCORD 41.00% $ 9,862.52 $ 32.383710 31.602267 0.78 100 $ 3,238 HOLLAND 85.00% $ 3,411,567.03 $ 15.620485 15.243551 0.38 100 $ 1,562 $ 715,329.65 $ 25.534677 0.62 100 $ 2,553 SARDINIA 52.00% 24.918507 WALES 40.00% $ 972,304.35 $ 33.193303 32.392324 0.80 100 $ 3,319 $ 107,501.22 0.32 100 $ 1,529 JAVA 100.00% $ 15.294616 14.974225 SHELDON 85.00% $ 496,587.86 $ 17.993667 17.616735 0.38 100 $ 1,799 Total $ 7,554,921.00

SUMMARY

SUMMARY ➢ Reductions from appropriations represent new teachers, equipment for the auditoriums, school supplies, district furniture and BOCES streamlining ➢ Reductions form the basis for next year’s priority list ➢ Any additional fund balance will aid in necessary contributions to the capital reserve to offset local share

QUESTIONS ???