On The Road to Sustainability Virginia M. Grossman, Superintendent - PowerPoint PPT Presentation

Woodstown-Pilesgrove Regional School District 2020-2021 School Budget Presentation “On The Road to Sustainability” Virginia M. Grossman, Superintendent of Schools Rose Wang Chin, Business Administrator/Board Secretary

AGENDA • Balancing the 2020-21 Budget • Budget Details • Tax Impact 3/10/2020 2

2020-21 Budget Timeline Date Action January 15, 2020 Principals and Department Heads discuss their financial needs at our monthly Administrative Team Meeting. January 16, 2020 Board of Education reviews initial financial needs and shares initial input at the public Work Session, 6 pm, William Roper School Multi-Purpose Room. February 20, 2020 Board of Education input facilitated at the public Work Session, 6 pm William Roper School Multi-Purpose Room. February 24, 2020 Community Meeting for Budget Input held at the William Roper School 6 pm, Multi-Purpose Room. March 19, 2020 The Board of Education votes to approve the initial Budget submission to the Executive County Superintendent of Schools 6 pm, William Roper School Multi-Purpose Room. April 30, 2020 The public hearing of the final Budget is held at the Regular Meeting of the Board of Education, 7 pm, William Roper School Multi-Purpose Room. May 1, 2020 User Friendly Budget posted at: https://www.woodstown.org 3/10/2020 3

This budget subject to revision due to potential COVID-19 state funding reductions. 4/15/2020 4

Budget Highlights • Restore WHS Varsity Sports to Full Schedule • Restore Odyssey of the Mind Stipends • Curriculum Supervisor; District • Ten-Month Principal; William Roper School • School Counselor; Mary Shoemaker Elementary • Reduce Class Size; two new positions * Unofficially, COVID-19 may result in reduced State Aid and budget cuts 4/15/2020 5

Budget Details • 76% of our budget consists of employee compensation and benefits • Total compensation is projected at $14,351,128 • $4,394,267 is projected for employee benefits • Compensation totals nearly 58% of our total operating budget • Employee benefits total 18% 3/10/2020 6

Operating Budget Operating Budget 19/20 20/21 % Inc/(Dec) $ Inc/(Dec) Fund Balance $ 767,534 $ 1,450,490 89.0% $ 682,956 State Aid $ 7,318,473 $ 7,671,774 4.8% $ 353,301 Tax Levy $ 11,315,921 $ 11,729,613 3.7% $ 413,692 Tuition $ 3,719,078 $ 3,717,569 0.0% $ (1,509) Miscellaneous $ 570,855 $ 73,455 -87.1% $ (497,400) Total $23,691,861 $24,642,901 4.0% $ 951,040 4/15/2020 7

Revenues and Expenses 4/15/2020 8

Tax Levy and Rate by Municipality 2020 Net Regional 20/21 Tax Rate Tax Rate Valuation Allocation Regional 2020/21 2019/20 Rate Municipality Taxable % Tax Levy (estimated) (actual) Change Pilesgrove $ 469,353,300 63.003% $ 8,181,538 1.743% 1.707% 0.036% Woodstown $ 275,618,000 36.997% $ 4,892,621 1.775% 1.697% 0.078% 3/10/2020 9

Local Tax Levy Reconciliation 2019 Assessed 20/21 Annual Tax 20/21 Monthly Municipality Value 19/20 Annual Tax 20/21 Annual Tax Increase Tax Increase Pilesgrove $100,000 $1,707.00 $1,743.00 $36.00 $3.00 Pilesgrove $200,000 $3,414.00 $3,486.00 $72.00 $6.00 Pilesgrove * $275,144 $4,696.71 $4,795.76 $99.05 $8.25 Pilesgrove $300,000 $5,121.00 $5,229.00 $108.00 $9.00 Pilesgrove $400,000 $6,828.00 $6,972.00 $144.00 $12.00 Woodstown $100,000 $1,697.00 $1,775.00 $78.00 $6.50 Woodstown $200,000 $3,394.00 $3,550.00 $156.00 $13.00 Woodstown * $206,859 $3,510.40 $3,671.75 $161.35 $13.45 Woodstown $300,000 $5,091.00 $5,325.00 $234.00 $19.50 Woodstown $400,000 $6,788.00 $7,100.00 $312.00 $26.00 *Denotes “Average Home Assessed” value 3/10/2020 10