So uth E uc lid L yndhurst City Sc ho o ls d F ina nc ia l Upda - PowerPoint PPT Presentation

So uth E uc lid L yndhurst City Sc ho o ls d F ina nc ia l Upda te Oc to b e r 13, 2018

Purpo se o f this Pre se nta tio n (Whe re we ’ ve Be e n / Whe re we Are / Whe re we ’ re Go ing ) F ina nc ia l History F Y13 – F Y18 (Post L e vy) • Curre nt F ina nc ia l Situa tion – F Y19 • F ina nc ia l Outlook – F Y20 & Be yond • Informa tion on L e vy Options •

Re ve nue

Re ve nue – F Y18 Inve stme nt E a rning s, $431,025 , T uition, $2,235,243 , 4% Inc ome T a x - L yndhurst, 1% $36,363 , 0% Pa y to Pa rtic ipa te , $74,160 , 0% Cla ss F e e s, $44,236 , 0% Misc e lla ne ous, $100,391 , 0% Re a l E sta te T a xe s, $41,918,595 , 69% Sta te F ounda tion, $8,226,492 , 14% Home ste a d & Rollba c k, $5,941,253 , 10% Ca sino T a x, $174,422 , 0% Othe r Sta te , $870,475 , 1% F e de ra l - Me dic a id, $170,050 , 0% Non- Ope ra tiona l, $588,475 , 1%

Re ve nue – F Y18 L o c a l Re ve nue Bre a kdo wn Re al E state T axe s, $41,918,595 , 94% Misc e llane ous, $100,391 , 0% Inc ome T ax - L yndhur st, $36,363 , 0% Class F e e s, $44,236 , 0% Pay to Par tic ipate , $74,160 , Inve stme nt E ar nings, T uition, $2,235,243 , 5% 0% $431,025 , 1%

Re sid e ntia l De liq ue nt, L oc a l T a xe s – F Y18 1,280,819, 3% Busine ss, 9,098,001, 22% T he Distric t re c e ive d $30,934,662 o r 74% fro m Re side ntia l Re a l E Busine ss De liq ue nt, sta te 195,347, 0% ta xe s in F Y18. Pub lic Utility, 1,689,494, 4% T he Distric t re c e ive d $9,293,348 o r 22% fro m Busine ss/ Comme rc ia l sta te ta xe s in F Y18. Re a l E T he Distric t re c e ive d $1,689,494 o r 4% fro m Public Utilitie s ta xe s in F Y18. Re sid e ntia l, 29,653,843, 71%

32,500,000 L oc al T axe s 30,000,000 27,500,000 25,000,000 22,500,000 T a x Co lle c tio n Ra te s: 94.96% 20,000,000 Ha s re ma ine d re la tive ly • 17,500,000 c o nsiste nt o ve r the ye a rs 15,000,000 12,500,000 Busine ss T a x No te : 10,000,000 F Y16 -> F Y17 De c re a se due to the 7,500,000 re duc tio n in va lua tio n o f the 5,000,000 Ric hmo nd Ma ll 2,500,000 F Y18->F Y19 de c re a se due to 0 re duc tio n in va lua tio n o f Hillto p F Y16 F Y17 F Y18 F Y19 F Y20 F Y21 Pla za a nd the sub se q ue nt re fund Re side ntia l 30,752,443 30,823,314 30,934,663 30,460,465 30,460,465 30,460,465 o f ta xe s fo r c a le nda r ye a r 2018 Busine ss 9,963,537 9,141,549 9,293,348 8,354,731 8,354,731 8,354,731 Pub lic Utility 1,531,016 1,589,716 1,689,494 1,751,264 1,751,264 1,751,264 Re side ntia l Busine ss Pub lic Utility

Sta te F ounda tion Distric ts 2 nd la rg e st • re ve nue so urc e . Ac c o unte d fo r • a ppro xima te ly $9,000,000 o r 14% o f the Distric ts re ve nue fo r F Y18 Ba se d o n stude nt • e nro llme nt da ta sub mitte d thro ug h E MI S

E xpe nditur e s

E xpe nditure s – F Y18 By Ob je c t E quipme nt, $248,148 , Othe r , $1,102,954 , 2% Supplie s, $1,862,713 , 0% 3% T r ansfe r s/ Advanc e s, $1,785,500 , 3% Contr ac te d Se r vic e s, $10,851,072 , 18% Salar y, $32,508,536 , Be ne fits, $12,683,340 , 53% 21%

E xpe nditure s – F Y18 By F unc tio n Non- instruc tiona l Ope ra tions, Support Se rvic e s - Ce ntra l, Boa rd of E d / F isc a l / Busine ss, $18,338 , 0% $1,347,341 , 2% $2,499,063 , 4% Athle tic s & E xtra c urric ula r, T ra nsporta tion, $2,850,149 , 5% $1,026,311 , 2% T ra nsfe rs / Adva nc e s, $1,785,500 Ope ra tions & Ma inte na nc e , , 3% $6,463,673 , 10% Pupil & Instruc tiona l Support, $5,937,405 , 10% Instruc tiona l, $35,243,708 , 58% Administra tion, $3,898,918 , 6%

Sa la rie s & Be ne fits $40,000,000 $35,000,000 $30,000,000 $25,000,000 itle Axis T $20,000,000 $15,000,000 $10,000,000 $5,000,000 $- F Y14 F Y15 F Y16 F Y17 F Y18 F Y19 F Y20 Sa la rie s $32,265,638 $32,236,301 $32,471,445 $32,414,703 $32,508,536 $33,724,000 $35,073,000 Be ne fits $13,026,700 $13,337,874 $12,367,203 $12,382,200 $12,683,340 $13,768,000 $15,145,000

Be ne fits Be ne fits – F Y18 Be ne fits – F Y14 to F Y19 Une mployme nt, Vision , 92,204, Me dic a re , L ife , 10,813, 0% 1% 459,346, 4% 38,161, 0% $13,500,000 $12,000,000 De nta l , 349,707, 3% $10,500,000 $9,000,000 Re tire me nts, 5,319,515, 42% $7,500,000 $6,000,000 $4,500,000 $3,000,000 He a lth/ Rx, 6,141,096, 48% $1,500,000 $0 Re imbur se me nts , 272,459, 2% F Y14 F Y15 F Y16 F Y17 F Y18 F Y19

Co ntra c te d Se rvic e s Contr ac te d Se r vic e s – F Y18 Contra c te d Se rvic e s – F Y14- F Y19 T r a nspor ta tion Pr of & T e c h 3% Se r vic e s $10,500,000 20% $9,000,000 $7,500,000 Pr ope r ty Se r vic e s 7% $6,000,000 T r a ve l/ Me e ting 1% $4,500,000 Communic a tions $3,000,000 1% Utilitie s $1,500,000 T uition 8% 60% $0 F Y14 F Y15 F Y16 F Y17 F Y18 F Y19

Supplie s / E q uipme nt / Due s & F e e / No n-Ope ra tio na l $2,500,000 $2,250,000 $2,000,000 $1,750,000 $1,500,000 $1,250,000 $1,000,000 $750,000 $500,000 $250,000 $- F Y14 F Y15 F Y16 F Y17 F Y18 F Y19 Supplie s $1,583,295 $1,570,811 $2,051,649 $2,269,507 $1,862,713 $1,821,000 E q uipme nt $265,878 $390,724 $725,539 $379,716 $248,148 $19,500 Due s & Fe e s $1,490,399 $1,050,566 $1,079,243 $1,070,304 $1,102,954 $1,117,500 No n-Ope ra tio na l $863,827 $830,020 $1,374,000 $1,425,000 $1,785,500 $1,435,000

Re ve nue vs E xpe nditure s Re ve nue E xpe nditure s $70,000,000 $68,000,000 $66,000,000 $64,000,000 $62,000,000 $60,000,000 $58,000,000 $56,000,000 $54,000,000 $52,000,000 $50,000,000 F Y13 F Y14 F Y15 F Y16 F Y17 F Y18 F Y19 F Y20 F Y21 Re ve nue $60,010,539 $58,425,903 $59,781,546 $60,623,818 $59,291,953 $60,811,180 $58,400,000 $58,250,000 $57,965,000 E xpe nditure s $54,777,169 $57,849,019 $58,461,086 $58,747,178 $59,128,458 $61,042,263 $63,347,000 $66,038,000 $68,254,000

Re ve nue vs E xpe nditure s with E nding Ca sh Ba la nc e Re ve nue E xpe nditure s Surplus/ (De fic it) E nd ing Ba la nc e 70,000,000 60,000,000 50,000,000 40,000,000 30,000,000 20,000,000 10,000,000 0 (10,000,000) F Y13 F Y14 F Y15 F Y16 F Y17 F Y18 F Y19 F Y20 F Y21 Re ve nue 60,010,539 58,425,903 59,781,546 60,623,818 59,291,953 60,811,180 58,400,000 58,250,000 57,965,000 E xpe nditure s 54,777,169 57,849,019 58,461,086 58,747,178 59,128,458 61,042,263 63,347,000 66,038,000 68,254,000 Surplus/ (De fic it) 5,233,370 576,884 1,320,460 1,876,640 163,495 (231,083) (4,947,000) (7,788,000) (10,289,000) E nd ing Ba la nc e 12,425,643 13,002,614 14,323,136 16,199,477 16,363,006 16,131,977 11,185,003 3,396,000 (6,892,000)

F ina nc ia l F o re c a st SOUTH E EUCLID-LYNDHURST C CITY S SCHOOL D DISTRICT ZERO P POIN INT A ANALYSIS SIS - - G GENERAL F FUND ( (MA MAIN IN) Date: 8/31/2018 Revenue Projection Factors New Levy Calculator Expenditure Projection Factors Taxes 0.00% Salaries 4.00% Other Local 0.00% Valuation 775 Benefits 10.00% Interest 0.00% Millage Contracted Services 0.00% State Foundation 0.00% Supplies/Materials 0.00% Other State 0.00% Est. Yield $0 Capital Outlay 0.00% Other Federal 0.00% Dues & Fees 0.00% Figur ures E Expressed i in T n Tho hous usand nds FY 19 FY 20 FY 21 FY 22 FY 23 FY 16 FY 17 FY 18 Estimate Estimate Estimate Estimate Estimate Cat ateg egories es Actual Actual Actual Rev Reven enue e Sources ces: Taxes $40,566 $40,566 $40,566 $40,566 $40,566 Real Estate $42,247 $41,555 $41,918 1,510 1,450 1,400 1,400 1,400 Homestead Reimb. 1,647 1,600 1,577 4,374 4,350 4,345 4,345 4,345 Rollback Reimb. 4,398 4,383 4,364 26 26 26 26 26 Income Tax - Lyndhurst 9 103 36 Othe her Loc Local S Sour ources 1,664 1,664 1,664 1,664 1,664 Tuition Fees 1,394 1,094 2,235

L e vy Infor mation

Sc ho o l Pro pe rty T a x L e vie s Wha t is a Pro pe rty T a x L e vy? Whe n a re ta xe s c o lle c te d? A pro pe rty tax le vy is the c o lle c tio n o f T axe s are paid in January and July o f the taxe s c harg e d o n the value o f c ale ndar ye ar fo llo wing the tax ye ar(T Y) (e x: pro pe rty. T axe s fo r 2017 ar e c o lle c te d by the c o unty tr e asur e r in Jan 2018 & July 2018) . Sinc e sc ho o l distric ts run o n a fisc al ye ar (F Y) Wha t is HB920? (July 1-June 30) taxe s re c e ive d during that Was passe d in 1976 to re duc e the fisc al ye ar will b e fro m two diffe re nt taxe s c harg e d b y a vo te d le vy due to c ale ndar ye ars. (e x: A le vy passe d in No v 2018 e c e ive funds in the 2 nd the inc re asing value o f pro pe rty. I t me ans the sc ho o l will be gin to r Y19 and in the 1 st half o f F half o f F Y20) pre ve nts any le vy fro m c o lle c ting mo re taxe s than what was o rig inally Additio nal I nfo rmatio n re g arding vo te d. sc ho o l le vie s c an b e fo und he re OSBA Unde rstanding L e vie s F ac t She e t