LONG HILL TOWNSHIP SCHOOL DISTRICT

Transcription

1 LONG HILL TOWNSHIP SCHOOL DISTRICT PROPOSED BUDGET March 25, :30 p.m. Township Municipal Building

2 Budget Highlights: Tax Levy General Fund Year Tax Levy Levy Change $13,873, % $13,841,574 (-0.23%) Three-year weighted average: +1.22%

3 Budget Highlights: Program Details Maintains current levels of staffing and programs Funds Two part-time Teacher Assistants for Millington students as per their IEP s Provides for new Middle School Math Curriculum at Central Allocates Capital and Maintenance Reserve funds for needed Roof Replacement projects at Central School Includes Full-day Kindergarten program using existing staff; also saves over $60,000 by cutting midday bus routes

4 4

5 5

6 Budget: Enrollment Projections Grade Level Enrollment # of Sections Average Class Size SKIP/KIT Kindergarten First Grade Second Grade Third Grade Fourth Grade Fifth Grade Sixth Grade Seventh Grade Eighth Grade Out of District Total Enrollment 835

7 Budget Highlights: Expenses Operating Current FUND 11: +1.3% Capital Expense FUND 12: +65.4% Special Revenue FUND 20: (-15.0%) Debt Service FUND 40: +1.3% Net Total Expenses ALL FUNDS: +3.6%

8 Budget Highlights: Expenditures Expense Budget Budget Change Regular Programs $4,230,261 $4,288,450 $58,189 Employee Benefits $2,236,426 $2,505,192 $268,766 Operations $1,579,978 $1,739,300 $159,323 Special Education $1,549,255 $1,584,895 $35,639 Related/Extra. Svces $899,154 $981,256 $82,102 Transportation $965,043 $839,561 ($125,482) School Admin $555,545 $551,652 ($3,893) CST $509,944 $494,667 ($15,277) Tuition $608,169 $379,453 ($228,716) Other $275,949 $280,753 $4,804 Health Services $282,536 $279,089 ($3,447) Central Services $258,218 $261,346 $3,128 General Admin $298,422 $259,679 ($38,743) Ed Media $193,020 $197,267 $4,247 Guidance $161,245 $159,206 ($2,039) Basic Skills $164,091 $157,395 ($6,696) Operating Expenses $14,767,255 $14,959,160 $191,904 Other includes Technology, Curriculum, Staff Development, Bi-Lingual & Extra-curricular

9 Budget Highlights: Expenditures CST 3% Health Services 2% Tuition 3% Other 2% General Admin 2% Central Services 2% Ed Media 1% Guidance 1% Basic Skills 1% Regular Programs 29% School Admin 4% Transportation 6% Related/Extra. Svces 7% Special Education 11% Operations 12% Employee Benefits 17% Other includes Technology, Curriculum, Staff Development, Bi-Lingual & Extra-curricular

10 10 Expense Breakdown All other, $463,540, 22% Benefits, $145,980, 7% Salaries, $1,504,240, 71%

11 11

12 12

13 13

14 14 Ten Year Historical Changes: Expense & Tax Levy General Fund School Year Tax Levy Tax Change Budget Budget Change $10,665, $11,912, % $11,046, % $12,380, % $11,433, % $12,739, % $11,885, % $13,187, % $12,649, % $13,726, % $13,021, % $14,143, % $13,607, % $14,247, % $13,873, % $14,613, % $13,841,574 (-0.23%) $14,767, % $14,105, % $14,959, %

15 15 Ten Year Historical Changes: Expense vs. Tax Levy $16,000,000 $15,000,000 $14,959,159 $14,000,000 $13,000,000 $13,726,650 $13,607,499 $14,105,639 $12,000,000 $11,000,000 $10,000,000 $11,912,914 $10,665,535 Tax Levy Expense Budget

16 Budget Highlights: Capital & Maintenance Reserve Funds Withdrawal of $532,172 from the Capital Reserve Fund for the Replacement of a Built Up Roof at Central School Withdrawal of $86,852 from the Maintenance Reserve Fund for the replacement of the Metal Roof at Central Both projects will be bid out in April; start once school ends; and be completed in August Deposit of $250,000 in anticipated surplus at June 30, 2013 into the Capital Reserve Fund for future needs

17 Budget Highlights: Revenue Sources Budgeted Revenues Revenue Description % of Total % of Total Tax Levy - General Fund $13,841, % $14,105, % Tuition $85, % $55, % Subscription Bus Fees $40, % $40, % Miscellaneous Income $45, % $35, % Capital Reserve Increase $68, % $250, % Capital Reserve Withdrawal $450, % $532, % Maintenance Reserve Withdrawal $0 0.0% $86, % Fund Balance - General Fund $169, % $236, % Total Local Revenues $14,699, % $15,341, % Total State Revenues (Aid) $624, % $624, % TOTAL OPERATING REVENUES $15,323, % $15,965, %

18 Budget Highlights: Revenue Sources Other 11.6% Miscellaneous Income 0.2% Subscription Bus Fees 0.3% Cap. Reserve Increase 1.6% Capital Withdrawal 3.3% Maintenance Reserve Withdrawal 0.5% Tuition 0.3% Fund Balance Gen. 1.5% Tax Levy - General 88.4% Total State Aid 3.9%

19 19 Revenue Breakdown State Sources, $346,520, (15.0%) Federal Sources, $15,780, ( 0.7%) Local Sources, $1,952,320 (84.3%)

20 20

21 Budget Highlights: Tax Impact Average assessed home in Long Hill per the tax assessor s office is $383,929 The tax increase in the General Fund tax levy is 1.91% and the decrease in Debt Service tax levy is (-2.59%) A lower assessed valuation of Long Hill Township in 2012 results in an overall tax increase, including Debt Service, of 2.64% Proposed tax rate per $100,000 of assessed valuation is $1.211, an increase of $31.60 over the current year

22 Budget Highlights: Tax Impact Assessed Home Value Annual Tax Increase Monthly Tax Increase $300,000 $93.49 $7.79 $350,000 $ $9.09 $383,929* $ $9.97 $450,000 $ $11.69 *Average 2012 assessed home value in Long Hill Township

23 Budget Highlights: Information The Board of Education voted last year to move the annual school vote to November to coincide with the General Election The school budget is no longer voted on by community residents if the tax levy increase is at or below the state cap of 2.0% Board of Education Candidates wishing to run for election in November must file a petition with the Morris County Clerk in June 2013, NOT with the Board Secretary as in previous years

24 24

25 25

26 26