NORWOODNORFOLK CENTRAL SCHOOL DISTRICT BUDGET PRESENTATION 2018 2019
NORWOODNORFOLK CENTRAL SCHOOL DISTRICT BUDGET PRESENTATION 2018 -2019
DISCUSSION • Projected Revenues – Tax Levy History – State Aid History – 1 st Draft Revenues as a % of total • Projected Expenses – Historical data on high dollar expenses – 1 st Draft Expenditures as a % of total • What is the Gap? • How do we fill the GAP?
REVENUES
ESTIMATED REVENUE BUDGET Current Year 1 st Draft Category 2017 -2018 -2019 $ Tax Levy (including STAR) $ 6, 389, 134 $ State/Federal Aid ** $15, 135, 083 $ 15, 356, 399 $ 221, 316 1. 46% Other Misc Revenue $ 309, 106 $ (84, 532) 27. 35% Appropriated Fund Balance $ 462, 569 $ - $ (462, 569) (100. 00%) Reserves $ 468, 220 $ - $ (468, 220) (100. 00%) TOTAL REVENUE: $22, 764, 112 $ 21, 970, 107 $ (794, 005) (3. 49%) 224, 574 $ % - 0. 00%
TAX LEVY HISTORY 6, 500, 000 Tax Levy in Dollars ($) and Increase in Percentage % 7. 00% 6, 389, 134 6, 400, 000 6. 00% 5. 83% 6, 300, 000 6, 200, 000 6, 117, 452 6, 100, 000 6, 000 5. 00% 6, 263, 857 4. 00% 6, 147, 360 5, 924, 442 5, 940, 091 2. 99% 3. 00% 2. 00% 1. 90% 5, 900, 000 5, 800, 000 0. 26% 0. 49% 2. 00% 1. 00% 0. 00% 5, 700, 000 5, 600, 000 0. 00% 11 -12 12 -13 13 -14 14 -15 15 -16 16 -17 17 -18
TAX LEVY HISTORY REAL PROPERTY TAXES: LOCAL SHARE VERSUS STAR REIMBURSEMENT 6, 000 5, 000 4, 000 3, 000 2, 000 1, 000 0 09 -10 10 -11 11 -12 12 -13 Real Property Taxes 13 -14 14 -15 15 -16 "STAR" Taxes 16 -17 17 -18 Est
TAX LEVY HISTORY Tax Levy Change in Percentages (%) Percentages 5. 83% 2. 99% 2. 00% 1. 90% 0. 26% 0. 49% 0. 00% 1. 02% 10 -11 Series 1 1. 02% 11 -12 5. 83% 12 -13 0. 26% 13 -14 2. 99% 14 -15 0. 49% 15 -16 1. 90% 16 -17 0. 00% 17 -18 2. 00%
TAX RATE HISTORY Tax Rate Per Thousand Change in Percentages (%) Percent Change 6. 61% Series 1 2. 21% 0. 29% 10 -11 0. 29% 0. 11% 11 -12 6. 61% 12 -13 13 -14 -0. 45% 0. 11% 1. 05% 14 -15 15 -16 -0. 62% 1. 05% -0. 62% 16 -17 17 -18 -1. 54% 2. 21%
TAX RATE HISTORY Tax Rate Per Thousand of Full Assessed Value in Dollars 24. 92 Dollars 25. 01 24. 89 25. 19 25. 03 24. 64 24. 77 23. 45 10 -11 Series 1 23. 45 11 -12 25. 01 12 -13 24. 89 13 -14 24. 92 14 -15 24. 77 15 -16 25. 03 16 -17 24. 64 17 -18 25. 19
STATE AID HISTORY – FOUNDATION AID ONLY State Aid Full Phase-In Foundation Aid Versus Actual 13, 000 11, 000 10, 000 9, 000 Full Phase-In Level Actual Aid 2017 -18 2016 -17 2015 -16 2014 -15 2013 -14 2012 -13 2011 -12 2010 -11 2009 -10 2008 -09 8, 000 2007 -08 Dollars 12, 000
STATE AID HISTORY Norwood-Norfolk Central School State Aid Amounts in Dollars ($) 15, 500, 000 Dollars 14, 500, 000 13, 500, 000 12, 500, 000 11, 500, 000 10 -11 11 -12 12 -13 13 -14 14 -15 15 -16 16 -17 17 -18 Est Series 1 12, 797, 35011, 977, 60012, 581, 88413, 331, 46213, 139, 83113, 534, 98014, 479, 25915, 129, 215
STATE AID HISTORY Norwood-Norfolk Central School State Aid Amounts in Dollars (excludes building aid) 14, 500, 000 Dollars 13, 500, 000 12, 500, 000 11, 500, 000 10, 500, 000 9, 500, 000 10 -11 11 -12 12 -13 13 -14 14 -15 15 -16 16 -17 17 -18 Est Series 1 10, 558, 63610, 048, 93310, 593, 02311, 347, 04212, 091, 11212, 481, 18813, 40713, 282, 923
REVENUES - % OF TOTAL BUDGET Revenues - Percent of Budget 1. 02% 21. 20% 7. 88% 69. 90% Tax Levy (local levy) STAR Reimbursement State/Federal Aid Other Misc Revenue Fund Balance Reserves
EXPENDITURES
ESTIMATED EXPENDITURE BUDGET Expenses: Current Year 1 st Draft 2017 -2018 -2019 Category $ % Salaries $ 8, 224, 359 $ 8, 183, 729 $ Employees Retirement (ERS) $ 342, 154 $ 344, 965 $ Teachers Retirement (TRS) $ 641, 962 $ 711, 934 $ FICA $ 683, 996 $ 678, 503 $ (5, 493) (0. 81)% Health Insurance $ 5, 037, 008 $ 5, 288, 512 $ 251, 504 5. 31% Other Benefits $ $ 257, 796 $ (25, 183) (11. 10)% BOCES Services $ 1, 985, 047 $ 2, 012, 402 $ 27, 355 1. 34% Special Education Tuition $ 2, 289, 313 $ 2, 316, 037 $ 26, 724 1. 30% Utilities $ $ 517, 081 $ 21, 796 4. 55% Debt Service/Transfers $ 1, 818, 326 $ 2, 093, 921 $ 275, 595 17. 25% Equipment $ 115, 800 $ 107, 300 $ (8, 500) (5. 07)% Other (contractual, conferences, Supplies) $ 847, 883 $ 852, 306 $ 4, 423 0. 46% TOTAL EXPENSES: $ 22, 764, 112 $23, 364, 486 $ 600, 374 1. 53% 282, 979 495, 285 (40, 630) (0. 50)% 2, 811 0. 81% 69, 972 9. 34%
HISTORICAL EXPENSE BUDGET 25, 000 23, 364, 486 22, 115, 300 22, 764, 112 20, 670, 618 19, 501, 881 20, 977, 972 20, 000 20, 278, 501 19, 198, 516 15, 000 10, 000 5, 000 0 11 -12 12 -13 13 -14 14 -15 15 -16 16 -17 17 -18 18 -19 1 st Draft
EMPLOYEE’S RETIREMENT EXPENSE HISTORY 450, 000 400, 000 377, 716 357, 822 350, 000 342, 154 343, 239 401, 847 355, 234 344, 965 300, 000 283, 827 250, 000 200, 000 150, 000 11 -12 12 -13 13 -14 14 -15 15 -16 16 -17 17 -18 Est 18 -19 1 st Draft
TEACHER’S RETIREMENT EXPENSE HISTORY 1, 000 863, 050 900, 000 865, 564 932, 444 800, 000 700, 000 641, 962 566, 412 700, 452 600, 000 500, 000 711, 934 557, 829 400, 000 300, 000 200, 000 11 -12 12 -13 13 -14 14 -15 15 -16 16 -17 17 -18 18 -19 Est 1 st Draft
HEALTH INSURANCE EXPENSE HISTORY 5, 500, 000 5, 037, 008 5, 288, 512 5, 000 4, 351, 105 4, 286, 315 4, 500, 000 4, 556, 849 4, 000 4, 313, 137 3, 479, 075 3, 860, 094 3, 500, 000 3, 000 11 -12 12 -13 13 -14 14 -15 15 -16 16 -17 17 -18 18 -19 1 st Est Draft Premiums are estimated to increase 7% in 18 -19.
HISTORY OF SPECIAL EDUCATION COSTS (BOCES & RESIDENTIAL PROGRAMS) 2, 289, 313 2, 500, 000 1, 840, 767 2, 000 2, 316, 037 1, 417, 623 1, 500, 000 1, 893, 580 945, 911 1, 000 1, 505, 703 500, 000 1, 113, 432 0 11 -12 12 -13 13 -14 14 -15 15 -16 16 -17 17 -18 18 -19 1 st Draft
EXPENDITURES - % OF TOTAL BUDGET 2. 21% 4. 11% 9. 91% 8. 61% 8. 96% 35. 03% 31. 17% Salaries Benefits Debt Service/Transfers BOCES Services Other (contractual, conferences, M&S) Utilities Tuition SWD (BOCES & Residential)
WHAT IS THE GAP? • Projected Revenue Budget $ 21, 970, 107 • Projected Expenditure Budget $(23, 364, 486) • 1 st Draft Budget GAP $( 1, 394, 379)
HOW DO WE FILL THE GAP? Three Options: 1. Reductions in District Spending 2. Increase Tax Levy 1. What is our limit? ? 3. Use Reserves and Fund Balance
WHAT IS NEXT? v 2/6/2018: Budget Work Session with Board of Education v Fund Balance & Reserves v 2/8/2018: Supervisor’s Budget Meeting v 2/20/2018: Review 18 -19 budget updates at Regular Board of Education Meeting v 2/26/2018: Administrative Council Budget Meeting v 2/27/2018: Budget Work Session Meeting with Board of Education
QUESTIONS
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