Keyport Public Schools 2020 2021 Budget Presentation March

Keyport Public Schools 2020 -2021 Budget Presentation March 4, 2020 Anthony Rapolla Business Administrator Learners Today…Leaders Tomorrow

Keyport Public Schools Board of Education Members q. Mrs. Ann Panzarelli, President q. Mr. Jack Hausmann, Vice- President q. Mrs. Laura Abrahamsen q. Mrs. Ruth Grabowski q. Mr. Patrick Moroney q. Mrs. Patricia Olsen q. Mr. Joseph Stahley q. Mrs. Jennifer Tevis q. Mr. James Mc. Grogan, Union Beach

Agenda q q q Revenues Appropriations Impacting Factors Debt Service Keyport Property Taxes

Major Revenue 2020 -2021 Fund Actual 2019 -2020 Proposed 2020 -2021 Changes Local Tax Levy $9, 848, 090 $10, 207, 470 $359, 380 3. 65% Tuition $2, 628, 820 $2, 918, 497 $289, 677 11. 02% State Sources $5, 839, 852 $5, 818, 986 -$20, 866 -0. 43% Capital, Main, Emerg. & Tuition Reserve $1, 285, 900 $549, 646 -$736, 244 -57. 26% $540, 000 $700, 000 $160, 000 29. 63% $193, 033 -$17, 755 -8. 42% Fund Balance Other $210, 788 Percent of Change

Major General Fund Appropriations for 2020 -2021 Budget Category Revised 2019 -2020 Proposed 2020 -2021 Changes Percent Changes Regular Instruction $6, 148, 083 $6, 257, 087 $109, 004 1. 77% Special Ed. Instruction $1, 425, 701 $1, 396, 188 -$29, 583 -2. 07% $949, 798 $1, 420, 138 $470, 340 49. 52% Operation and Maintenance of Plants $1, 986, 619 $1, 961, 778 -$24, 841 -1. 25% Employee Benefits $4, 115, 747 $4, 293, 300 $177, 553 4. 31% Administrative $1, 502, 810 $1, 486, 871 -$15, 939 -1. 06% Co-Curricular Activities $101, 627 $104, 922 $3, 295 3. 24% Tuition

Major General Fund Appropriations for 2020 -2021(continued) Budget Category Revised 2019 -2020 Proposed 2020 -2021 Changes Percent Changes Athletics $487, 179 $464, 182 -$22, 997 -4. 72% Health Services $182, 714 $151, 747 -$30, 967 -16. 95% Support Services $1, 012, 699 $1, 043, 646 $30, 947 3. 06% Improvement of Instructional Services $532, 676 $534, 510 $1, 834 0. 34% Transportation $593, 000 $662, 000 $69, 000 11. 64% Capital Outlay $888, 529 $134, 780 -$753, 749 -84. 83%

Impacting Factor#1 Out of District Tuition Costs q. Out of District Tuition Costs are up $470, 340 from 20192020. q. Out of District Tuition Costs are up $895, 944 from 20182019. q. Brookdale Tuition Costs are up $52, 166 from 2018 -2019.

Impacting Factor#2 Health Care Costs q. This budget is built with a conservative 5% health insurance increase assumption. q. This results in a total benefits increase of 4. 31%.

Impacting Factor #3 District Salaries q. Total district salaries are projected to be $11, 757, 452 q. Contracts expired on June 30, 2019 for KEA and KCMA q A tentative agreement has been reached with the KEA. q. Projected annual salary increases moving forward are approximately $382, 000. q 2% of Tax Base is approximately $200, 000

Impacting Factor #4 State and Federal Aid q State Aid decreased by $20, 866 q State Aid is being impacted by a declining resident enrollment.

Impacting Factor #5 Union Beach Tuition q Union Beach tuition paid to us is projected to increase by $289, 677. q This is a result of a tuition adjustment from 2018 -2019 of $164, 179. q It is also a result of increased per pupil tuition rate.

Impacting Factor #6 Use of Banked Cap and Fund Balance q This budget is making use of $162, 418 of Expiring Banked Cap. q This budget is making use of $700, 000 of Fund Balance which is $160, 000 more than normal. q When added together, there is $322, 418 of revenue that won’t be there next year.

Debt Service 2019 -2020 -2021 Debt Service Due $667, 832 $1, 157, 799 State Debt Service Aid $207, 457 $ 395, 041 Local Tax Levy $460, 375 $762, 746

Forecasted Tax Rate TAXES 2019 -2020 -2021 CHANGE GENERAL FUND TAXES $9, 848, 090 $10, 207, 470 3. 65% ASSESSED RATABLES $740, 542, 700 $785, 868, 400 6. 12% $0. 013298 $0. 012989 -2. 32% $282, 802 HOME VALUED AT ANNUAL SCHOOL TAX ON HOME $3, 761 $3, 673 -$88 DEBT SERVICE TAXES $460, 375 $762, 746 65. 70% ASSESSED RATABLES $740, 542, 700 $785, 868, 400 6. 12% $0. 0006217 $0. 0009706 56. 12% $282, 802 $176 $274 $98 $3, 937 $3, 947 $10 HOME VALUED AT ANNUAL SCHOOL TAX DEBT SERVICE TAX ON HOUSE VALUED AT $282, 802

Thank you