Pl Plain inedge edge Pu Public ic Scho chools ols 2016-20 2017 7 Bu Budget t Pre resenta entation tion Tax x Cap Calcul culation ation Presentation to the Board of Education Peter Porrazzo, Assistant Superintendent for Business March 10, 2016
TAX LEVY LIMIT CALCULATION 2016-17 MAJOR DRIVERS • LIPA PILOT • BUILDING AID • ENERGY PERFORMANCE CONTRACT • TRANSFER TO CAPITAL
Tax base growth factor, Allowable Levy (CPI-U) Growth Factor and PILOT (Payment in Lieu of Taxes) 2015/2016 Approved Actual Tax Levy 63,375,945 Tax Base Growth Factor 1.0015 63,471,009 Based on “brick and mortar” improvements within the community that increase the tax roll. It is set by the County. PILOTs prior year +1,287,755 Capital exclusion prior year -1,928,686 Based on Consumer Price Index (CPI-U) Adjusted Prior Year Tax Levy 62,830,078 Allowable Levy Growth Factor .12% (lesser of 2% or sum of 1 plus inflation factor) 62,905,474 Projected PILOTs 2016-2017 -1,102,608 Allowable Capital exclusion for 2016-2017 +2,456,489 Maximum Tax Levy Threshold for 2016-17 64,259,355 Percent increase in the Tax Levy (staying within the Tax Cap rules) +$883,410 or 1.39%
Capital Expenditure Exclusions Debt Service 4,628,757 Debt Service 4,641,658 Capital Outlay Capital Outlay 300,000 Bus Purchases 299,000 Bus Purchases 300,000 Total Capital Expenditures 4,927,757 Total Capital Expenditures 5,241,658 Other Revenues Other Revenues (Capital Fund, Capital Res. & Debt Service (Capital Fund, Capital Res. & Debt Service Res.) Res.) Building Aid: Building Aid: General Formula Aid Output Report General Formula Aid Output Report Line 7a Regular Building Aid 2,904,169 Line 7a Regular Building Aid 2,659,967 Less: Building Condition Survey Aid Less: Building Condition Survey Aid (BCS Output Entry 11) (BCS Output Entry 11) - 2,904,169 2,659,967 Total Building Aid Total Building Aid Transportation Aid: Transportation Aid: Transportation formula Aid Output Report Estimated transportation aid output report Line 79: Total assumed capital exp aidable Line 60: Total assumed capital exp aidable in 2014-15 165,045 in 2015-16 218,884 Line 32: State share ratio for transportation 57.5% Given: State share ratio for transportation 57.2% Total Aid 94,902 Total Aid 125,202 Building Aid, Trans. Aid & Reserve 2,999,071 Building Aid, Trans. Aid & Reserve 2,785,169 Capital Exclusion = $627,406 Capital Exclusion 1,928,686 Capital Exclusion 2,456,489
QUESTIONS?
Recommend
More recommend
