Keyport Public Schools 2019 2020 Budget Presentation March
Keyport Public Schools 2019 -2020 Budget Presentation March 13, 2019 Anthony Rapolla Business Administrator Learners Today…Leaders Tomorrow
Keyport Public Schools Board of Education Members q. Mr. Cecil Bright, President q. Mr. Jack Hausmann, Vice- President q. Mrs. Laura Abrahamsen q. Mrs. Kim Kutschman q. Ms. Elena Malinconico q. Mr. Patrick Moroney q. Mrs. Ann Panzarelli q. Mr. Joseph Stahley q. Mr. Courtney White q. Mr. James Mc. Grogan, Union Beach
Agenda q q q Revenues Appropriations Impacting Factors Debt Service Keyport Property Taxes
Major Revenue 2019 -2020 Fund Actual 2018 -2019 Proposed 2019 -2020 $9, 848, 090 Changes Percent of Change Local Tax Levy $9, 610, 209 $237, 881 2. 48% Tuition $2, 660, 272 $ 2, 628, 820 -$31, 452 -1. 18% State Sources $5, 831, 498 $5, 839, 852 $8, 354 0. 14% Capital, Main, Emerg. & Tuition Reserve $900, 000 $1, 200 $300, 200 33. 36% Fund Balance $540, 000 $0 0% Other $80, 000 $175, 276 $95, 276 199. 10%
Major General Fund Appropriations for 2019 -2020 Budget Category Revised 2018 -2019 Proposed 2019 -2020 Regular Instruction $6, 057, 486 $5, 998, 503 -$58, 983 -0. 97% Special Ed. Instruction $1, 407, 159 $1, 424, 530 $17, 371 1. 23% Tuition $654, 456 Changes $756, 935 $102, 479 Percent Changes 15. 66% Operation and Maintenance of Plants $1, 961, 143 $1, 968, 913 $7, 770 0. 40% Employee Benefits $4, 197, 038 $4, 323, 180 $126, 142 3. 01% Administrative $1, 312, 098 $1, 299, 595 -$12, 503 -0. 95% Co-Curricular Activities $87, 322 $101, 627 $14, 305 16. 38%
Major General Fund Appropriations for 2019 -2020(continued) Budget Category Revised 2017 -2018 Proposed 2018 -2019 Changes Percent Changes Athletics $464, 440 $487, 179 $22, 739 4. 90% Health Services $177, 408 $182, 714 $5, 306 2. 99% $1, 019, 748 -$24, 911 -2. 38% Support Services $1, 044, 659 Improvement of Instructional Services $528, 322 $532, 676 $4, 354 0. 82% Transportation $597, 141 $593, 000 -$4, 141 -0. 69% Capital Projects $600, 000 $725, 000 $125, 000 20. 83%
Impacting Factor#1 Health Care Costs q. Health Benefits are projected to increase approximately 6% based on our claims over the last year. q. This results in a total benefits increase of 3. 01%
Impacting Factor #2 District Salaries q. Total district salaries are $10, 463, 932 q. Contracts expire on June 30, 2019 q. The average contract settlement is currently over 3%. q. The tax levy for 18 -19 was $9, 610, 209.
Impacting Factor #3 State and Federal Aid State Aid increased by $8, 354 We were hoping for more State Aid based on information released last year. However, the State increased our Local Fair Share amount by $685, 556. Therefore, it determined we are only underfunded by $64, 269.
Impacting Factor #4 Tuition • Our out of district tuition is projected to increase by $102, 479. This could change between now and September. Out of district placements typically cost the district between $55, 000 - $125, 000. • Union Beach tuition paid to us is projected to decrease by $31, 452
Debt Service 2018 -2019 -2020 Debt Service Due $669, 320 $667, 832 State Debt Service Aid $207, 775 $207, 457 Local Tax Levy $461, 545 $460, 375
Forecasted Tax Rate TAXES 2018 -2019 -2020 CHANGE GENERAL FUND TAXES $9, 610, 209 $9, 848, 090 2. 48% ASSESSED RATABLES $711, 239, 900 $740, 542, 700 2. 52% $0. 013512 $0. 013298 -1. 58% $271, 728 HOME VALUED AT ANNUAL SCHOOL TAX ON HOME $3672 $3613 -$59 DEBT SERVICE TAXES $461, 545 $460, 375 -0. 25% ASSESSED RATABLES $711, 239, 900 $740, 542, 700 2. 52% $0. 0006489 $0. 0006217 -4. 19% $271, 728 $176 $169 -$7 $3, 848 $3, 782 -$66 HOME VALUED AT ANNUAL SCHOOL TAX DEBT SERVICE TAX ON HOUSE VALUED AT $271, 728
Thank you
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