Passaic Valley Regional High School 2018-2019 Budget Presented - PowerPoint PPT Presentation

1 Passaic Valley Regional High School 2018-2019 Budget Presented By: Dr. JoAnn Cardillo, Superintendent Mr. Colin Monahan, Business Administrator Date: May 1, 2018

Budget Basics 2 ➢ Revenue – Appropriations = Tax Levy ➢ TAX LEVY- portion of the budget supported through local taxes

Revenue Sources 3 ➢ Tax Levy - $25,755,770.00 ➢ State Aid - $1,174,612.00 ➢ Budgeted Fund Balance - $2,074,071.00 ❑ Fund Balance by Law - $1,914,083.00 ❑ Appropriation of Excess Surplus - $127,879.00

Revenue Sources 4 ➢ Tuition - $560,000.00 ➢ Extraordinary Aid - $125,000.00 ➢ Grants - $430,672.00 (NCLB (ESSA) & IDEA) ➢ Debt Service Aid - $262,222.00 ➢ Medicaid Reimbursements - $24,535.00 ➢ Other - $35,250.00

State Aid 5 Passaic Valley received the LOWEST amount of state aid of any regional school in Passaic County ➢ Passaic Valley - $1,174,612.00 ➢ Lakeland - $4,939,555.00 ➢ Manchester - $7,405,776.00

State Aid 6 ➢ 2014-2015 - $ 995,578.00 3.0% ( PARCC & Per Pupil Growth) ➢ 2015-2016 - $995,578.00 0% ➢ 2016-2017 - $1,013,467.00 1.8% (Transportation and PLC) ➢ 2017-2018 - $1,080,544.00 6.62% (Equalization Aid) ➢ 2018-2019 - $1,174,612.00 8.7% ➢ Summary: The district has seen approximately 7% and 8% increases over the last 2 years, but in fact has still lost over 1.7 million dollars in state aid funding over the past 5 years. ➢ If the formula was utilized we would receive over 1.4 million per year.

Expenditures 7 Instruction 65% Athletics/Activities 4% Transportation 6% Facilities 10% Capital Operational/Admin Vocational Charter 1% 6% 8%

Expenditures 8 Instruction/Benefits ➢ ❑ Regular - $14,415,668.00 (includes Guidance, Health Services & Media) ❑ Special Education - $4,912,305.00 (includes Child Study Team, OT/PT) Athletics/Student Activities - $1,256,318.00 ➢ ➢ Transportation - $ 1,841,746.00 ➢ Facilities - $ 3,107,549.00 (includes salaries) ➢ Capital Outlay - $143,684.00 (Projects, equipment and school bus) ➢ Vocational/Charter Schools - $2,351,444.00 ❑ PCTI - $2,210,637.00 (165 Students) ❑ Morris Vo Tech - $90,000.00 (part-time shared) ❑ Charter Schools - $50,807.00 (3 students) Operational Cost/Administration - $1,745,524.00 ➢ ❑ Passaic Valley maintains a low administrative cost limit - $1,728.00 ❑ Northern Region Limits - $2,246.00

Budget Challenges 9 Passaic County Technical Institute Fiscal Year Cost 2012-2013 $635,166.54 2013-2014 $933,777.00 47% 2014-2015 $1,113,545.31 19% 2015-2016 $936,005.50 19% 2016-2017 $1,079,860.30 15% 2017-2018 $1,376,259.00 Budgeted 27% 2018-2019 $2,210,637.00 Budgeted 61% * These amounts do not reflect transportation costs. 2018-2019 Budget 4 routes approx. cost $160,000.00 *Total 2018-2019 Budget $2,370,637.00 *Budgeted number does not reflect an increase in general education * If enrollment continues to grow at the current rate, the district anticipates an increase of $870,000.00 over the next 3 years

Budget 2018-2019 10 2018 - 2019 Current Expense Tax Levy $25,755,770.00

Debt Service 11 ➢ DEBT REMAINING ❑ 2010 Renovations - $6,788,000.00 (roofing, heating/boiler, windows, paving.) DEBT REDUCTION ➢ ❑ Debt Service Aid Offset Debt - $262,222.00 Good News, Paid Off Debt Decreased Taxes ➢ DEBT SERVICE – COSTS for 2018-2019 Little Falls ($ 5.30) Totowa ($ 3.85) Woodland Park ($ 3.42)

Capital Reserve/Capital Projects 12 ➢ 2016-2017 the Passaic Valley Board of Education completed selling a portion of land to Shop-Rite for $700,000.00. Monies moved to Capital Reserve and budgeted in Capital Projects in the 2017-2018 Budget ➢ 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 13 ShopRite Sales ➢ Technology ❑ Improvements to infrastructure – upgrades to wireless network and security – to accommodate the Bring Your Own Device initiative (completed) Education ➢ ❑ Renovations to science lab (begins in June 2018) Facilities ➢ ❑ Running Track (begins June 2018) ❑ Locker-Room/Showers/Ventilation (completed) Security ➢ ❑ Security Door Locks (completed)

Capital Projects (Cont’d) 14 Emergency Electrical Upgrades ➢ ❑ Replace 24 electrical boxes ❑ Replace 2 distribution panels ❑ Project approved as an emergency and monies transferred from Capital Reserve with County approval ❑ Budgeted Cost over $315,000.00 (2017-2018) Security ➢ ❑ Security Upgrades ($25,000.00 budgeted 2018-2019)

Budget 2018-2019 15 Operating Budget $ 29,774,238.00 Grants and Entitlements $ 430,672.00 Debt Service $ 771,239.00 Total Budget $ 30,976,149.00

Budget 2018-2019 16 ➢ Appropriations $29,774,238.00 Up 3.67% ➢ Revenue $ 4,018,468.00 Up 16.0% ➢ Tax Levy $25,755,770.00 Up 2.0%

Tax Calculations 17 Regional Allocations 2016-2017 2017-2018 ➢ Little Falls 29.4179374 % 27.9328191 % ➢ Totowa 37.5627497 % 37.9439753 % ➢ Woodland Park 33.0193129 % 34.1232056 % Regional allocations are determined by a State calculation

Tax Calculations 18 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) 2017-2018 General Fund $1,488,978,400 $7,428,251 0.4988824% $303,700 $126.26 $1,515.11 Debt Service Fund $1,488,978,400 $168,755 0.0113336% $303,700 $2.87 $34.42 2018-2019 General Fund $1,497,257,100 $7,194,313 0.4804995% $306,699 $122.81 $1,473.69 Debt Service Fund $1,497,257,100 $142,183 0.0094962% $306,699 $2.43 $29.12 Difference General Fund 8,278,700 (233,938) -0.0183829% 2,999 ($3.45) ($41.42) Debt Service Fund 8,278,700 (26,572) -0.0018374% 2,999 (0.44) (5.30) TOTAL (260,510) -0.0202203% ($46.71)

Tax Calculations 19 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) 2017-2018 General Fund $2,273,354,614 $9,484,878 0.41721947% $395,300 $137.44 $1,649.27 Debt Service Fund $2,273,354,614 215,478 0.00947842% 395,300 3.12 37.47 2018-2019 General Fund $2,275,245,400 $9,772,763 0.42952567% $396,000 $141.74 $1,700.92 Debt Service Fund $2,275,245,400 193,141 0.00848880% 396,000 2.80 33.62 Difference General Fund $1,890,786 $287,885 0.0123062% $700 $4.30 $51.65 Debt Service Fund 1,890,786 -22,337 -0.0009896% 700 (0.32) (3.85) TOTAL $ 265,548 0.0113166% $47.80

Tax Calculations 20 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) 2017-2018 General Fund $1,674,080,080 $8,337,626 0.4980422% $344,741 $143.08 $1,716.96 Debt Service Fund $1,674,080,080 $189,414 0.0113145% $344,741 3.25 39.01 2018-2019 General Fund $1,685,269,924 $8,788,694 0.5215007% $345,246 $150.04 $1,800.46 Debt Service Fund $1,685,269,924 173,693 0.0103065% $345,246 2.97 35.58 Difference General Fund $11,189,844 $451,068 0.0234584% $505 $6.96 $83.50 Debt Service Fund $11,189,844 -15,721 0.0008434% 505 (0.29) (3.42) TOTAL $435,347 0.0243018% $80.08

Tax Summary 21 Annual Monthly ➢ Little Falls $(46.71) $(3.90) ➢ Totowa $47.80 $3.99 ➢ Woodland Park $80.08 $6.68

Cost Savings 22 ➢ 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 23 Services/Partnerships ➢ Contract with BCESC to oversee Autism Program ➢ Sharing Passaic Valley gymnasium and athletic fields with local recreational programs 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

Grants 24 2017-2018 ➢ Passaic Valley has received funding for the Courtyard Projects ❑ Landsberger Foundation - $6,899.00 ❑ Sustainable Jersey - $2,000.00 ➢ Storytelling Arts - $17,000.00 ➢ Target - $1,000.00