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Budget Development

Study Session
3/19/2013

Revenue Analysis
Fund Balance
Debt Service
Bus Purchase Resolution
1

Let Schools BE School


Assumptions and Expectations in
Financial Leadership and Budget Development
Key Components

Tax Impact Sensitivity- Recognizing the Dynamic Nature of the


Economy- State Aid & Tax Cap Limitations:

Maximizing Tax Cap Allowances

Multiple-year Tax Levy and Rate Analysis

Trend Analysis of Property Valuations

Strategic Fund Balance UseAvoiding Structural Deficit

Dr. L. Oliver Robinson, Superintendent of Schools

Revenue Projections
13-14 Projected Draft
Budget Incr (Decr)
over 2012-13 Budget

Revenue
Budget

2013-14
Executive
Budget
State Aid

2013-14
Projected
Draft
Budget

$ Amount

26,336,843

26,337,312

26,337,312

469

BOCES Aid

1,810,924

1,819,511

1,819,511

8,587

Building Aid

6,824,121

6,228,383

6,045,508

(778,613)

Transportation Aid

7,079,045

7,505,815

7,505,815

426,770

Excess Cost Aid


Instructional
Materials Aid

1,366,293

1,476,218

1,476,218

109,925

843,176

971,288

971,288

128,112

(6,758,633)
(6,758,633)

(6,496,100)
(6,496,100)

(6,496,100)
(6,496,100)

262,533
262,533

37,501,769

37,842,427

37,659,552

157,783

2012-13

Revenue Items
Foundation Aid

Gap Elimination
Adjustment

State Aid

.42%
3

Revenue Projections
13-14 Projected Draft
Budget Incr (Decr)
over 2012-13 Budget
2012-13
Actual
Revenue
Budget
1,698,810
100,000
232,000
381,350
320,000
665,460
4,000,000

Revenue Items
Other Items
Interest Earnings
Tuitions & Admissions
Rentals, Sales, Refunds
Federal Reimbursements
Other Tax Items
Fund Balance
Reappropriated Fund
Balance
3,250,000
Reappropriated
Employee Benefits
0
Reappropriated
Retirement Reserve
750,000
108,338,579
Property Taxes
Totals 151,539,158

2013-14
Projected
Draft
Budget
1,408,905
90,000
324,000
319,975
345,000
329,930
4,660,000

$ Amount
(289,905)
(10,000)
92,000
(61,375)
25,000
( 335,530)
660,000

3,250,000

660,000

660,000

750,000
112,339,022
156,067,479

0
4,000,443
4,528,321

%
(17.07%)

16.50%

3.69%
2.99%4

2013-14 Official Tax Cap Calculation -As of March 1, 2013


Prior Year Tax Levy 2012-13
Tax Base Growth Factor

108,338,579

P/Y Growth

1.0136
109,811,984

Prior Year PILOT


Prior Year Exemptions
Debt Svc (BLDG & Trans)
Building Aid (less BCS Aid)
Trans Aid on buses
Local Share Capital
Adjusted Year Levy
Allowable Growth
Subtotal after allowable growth

+
+
+

371,380

(10,206,935)
6,993,404
733,608
(2,479,923)
107,703,440

1.02
109,857,509

2013-14 Official Tax Cap Calculation -As of March 1, 2013


Subtotal after allowable growth
Current Year PILOT
Current Year Exemptions
Debt Svc (BLDG & Trans)
Building Aid
Trans Aid on buses
Local Share Capital
Add: Increase in ERS (no exclusion)
Add: Increase in TRS
Salary Base (13-14 Budget)
Excludable % (Per OSC/SED)

109,857,509
(304,930)

+
-

10,656,079
(6,228,383)
(593,547)
3,834,149
0

+
x

55,208,923
2.41%
1,330,535
0

Available Carryover

Tax Levy Limit 2013-14


$ Increase over 2012-13
% Increase over 2012-13

114,717,263
6,378,684
5.89%
6

Projected Tax Levy Compared to Tax Levy Limit

2012-13

2013-14
%
$ Increase Increase

Budget

Proposed
Budget

Property Taxes - Tax


Levy Limit Cap

108,816,972

114,717,263

5,900,291

5.42%

Property Taxes -Budget


Driven

108,338,579

112,339,022

4,000,443

3.69%

Amount below the tax


levy limit cap

478,393

2,378,241

Property Tax Cap %

3.43%

5.89%

Six-year History of Budget Increases (%)


6 Yr History % Budget Increase

7.00%

6.00%

5.93%

5.00%

4.00%

Tax Levy Increase


2.99%
3.00%

4.73%

2.8%

3.11%

2.00%

4.55%

3.18%

3.69%

1.72%

.90%

1.00%

0.82%

0.22%
0.00%

08-09

09-10

10-11

11-12

12-13

Proposed
13-14

Let Schools BE School


Fund Balance Projections: 2012-13 to 2013-14
Assumes $3.25M Re-approp.
in 2013-2014
Unreserved/Unappropriated
Fund Balance: 6/30/12

(A)

5,572,788

Year-End Estimates
Revenues incl. Carryover Encumbrance

(B)

152,658,503

Expenditures incl. Carryover Enc.

(C)

(147,609,636)

Excess Revenues Over


Expenditures (B-C)

(D)

5,048,867

3/21/2013

Dr. L. Oliver Robinson, Superintendent of Schools

Let Schools BE School


Fund Balance Projections: 2012-13 to 2013-14
Assumes $3.25M Reapprop.
in 2013-2014

3/21/2013

Projected Unreserved/Unappropriated
Fund Balance (A+D)

(E)

10,621,655

Reserved for Retirement Liability

(F)

(750,000)

Reserved for Tax Certiorari Liability

(G)

Reserved for Workers Comp Liability

(H)

Dr. L. Oliver Robinson, Superintendent of Schools

10

Let Schools BE School


Fund Balance Projections: 2012-13 to 2013-14
Assumes $3.25M
Reapprop.
in 2013-2014
Reserved for Employee Benefits Accrued
Liability

(I)

(1,250,000)

Re-appropriation for 2013-14

(J)

(3,250,000)

Projected Unres./Unapprop. Fund Balance


6/30/13 (Sum E-J)

(K)

5,371,655

Projected % Fund Balance 6/30/13


3/21/2013

Dr. L. Oliver Robinson, Superintendent of Schools

3.44%
11

Let Schools BE School


Fund Balance Projections: 2012-13 to 2013-14
2013-2014
Assumes $3.25M
Re-approp.
in 2014-2015
Unreserved/Unapp.
Fund Balance: 6/30/12

(A)

Year-End Estimates
Revenues incl Carryover Enc.

(B)

100% Rev $156,067,479

Expenditures incl Carryover


Enc.

(C)

99% Exp $(154,506,804)

Excess Revenues Over


Expenditures (B-C)

(D)

3/21/2013

6/30/13

Dr. L. Oliver Robinson, Superintendent of Schools

$5,371,655

$1,560,675
12

Let Schools BE School


Fund Balance Projections: 2012-13 to 2013-14
2013-2014
Assumes $3.25M Reapprop
in 2014-2015
Projected
Unreserved/Unapprop Fund
Balance (A+D)

(E)

$6,932,330

Reserved for Retirement


Liability

(F)

Reserved for Tax Certiorari


Liability

(G)

Reserved for Workers Comp


Liability

(H)

3/21/2013

Dr. L. Oliver Robinson, Superintendent of Schools

13

Let Schools BE School


Fund Balance Projections: 2012-13 to 2013-14
2013-2014
Assumes $3.25M Reapprop
in 2014-2015
Reserved for Employee
Benefits Accrued Liability

(I)

Reappropriation for 2013-14

(J)

(3,250,000)

Projected Unres/Unapprop
Fund Balance 6/30/14

(K)

3,682,330

% Fund Balance at 6/30/14

3/21/2013

Dr. L. Oliver Robinson, Superintendent of Schools

2.34%

14

Budget Proposal

2013-14
Tax Levy Limit Cap
$114,717,263 Tax Levy
5.89% Tax Levy Increase

2013-14
Proposed Budget
(Below the Tax Levy
Limit)
$112,339,022 Tax Levy
3.69% tax levy increase
(Below the Tax Levy Limit Cap)
Budget Increase ($)
$ 4,000,443
Budget Increase (%)
2.99%
Estimated
True Value Tax Rate 3.18%
15

Capital Project Debt Schedule


Year

2012-13
2013-14
2014-15
2015-16
2016-17
2017-18
2018-19
2019-20
2020-21
2021-22
2022-23
2023-24
2024-25
2025-26
2026-27
2027-28
2028-29
2029-30

Refi
Series B,
D, and F

1,443,758
1,957,700
1,968,500
1,952,875
1,959,650
1,156,600
1,150,100
1,146,500
484,500

13,220,183

Series F
SHENET
Tech & Sci Rms

510,625

510,625

Refi
Series E
$7.9M MS

601,172
602,369
606,744
599,844
603,281
606,094
603,281

4,222,785

Refi
$1.5M
Dist Office

106,450
102,450
108,538
104,825
112,275
105,694
113,813
106,638
109,200
106,444

1,076,327

Refi
$22.5M
MS/HS Classrms

1,598,825
1,598,525
1,597,325
1,604,525
1,604,725
1,608,125
1,549,525
1,494,275
1,488,775
1,488,175
1,479,000
960,750

18,072,550
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Capital Project Debt Schedule

Year

2012-13
2013-14
2014-15
2015-16
2016-17
2017-18
2018-19
2019-20
2020-21
2021-22
2022-23
2023-24
2024-25
2025-26
2026-27
2027-28
2028-29
2029-30

$8.8M
Facility
Maintenance
Projects

771,300
770,400
767,600
774,000
779,200
778,200
781,200
783,000
483,600

6,688,500

$38M
Elem, MS,
Pool & Trans
Projects

2,943,103
2,959,934
2,961,565
2,963,046
2,970,709
2,980,576
2,987,503
2,996,371
3,003,315
3,012,909
1,384,484
1,387,940
1,389,334
1,393,665
1,400,728

36,735,182

$1.5M
Skano/
Tesago
Roof

135,200
136,400
137,400
133,200
134,000
134,600
135,000
135,200
135,200

1,216,200

$8.2M
Excel
Projects
Bond

$3.5M
Track
Bond

541,953
543,683
544,471
541,492
545,347
545,347
544,006
548,282
548,527
551,265
549,951
540,559
344,568

232,266
232,036
232,373
231,102
232,747
232,747
232,175
233,999
234,104
235,273
234,712
230,704
147,057

6,889,451

2,941,295

$10.1M
Est. Borrow
$7.7M
H&S, WiFi

232,143
729,990
724,750
722,000
723,500
724,000
723,500
722,000
724,500
725,750
725,750
724,500
722,000
723,250
723,000
726,250
477,750
11,574,633
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Capital Project Debt Schedule


Year

2012-13
2013-14
2014-15
2015-16
2016-17
2017-18
2018-19
2019-20
2020-21
2021-22
2022-23
2023-24
2024-25
2025-26
2026-27
2027-28
2028-29
2029-30

Total Debt Service


on Facilities

8,884,652
9,135,640
9,654,506
9,629,659
9,663,934
8,871,485
8,820,603
8,167,765
7,209,221
6,118,566
4,373,897
3,845,703
2,605,459
2,115,665
2,123,978
723,000
726,250
477,750
103,147,733

18

2029-30

2028-29

2027-28

2026-27

2025-26

2024-25

2023-24

2022-23

2021-22

2020-21

2019-20

2018-19

2017-18

2016-17

2015-16

2014-15

2013-14

2012-13

Capital Project Debt Schedule

12,000,000

10,000,000

8,000,000

6,000,000

4,000,000
Total
Debt

2,000,000

19

Bus Purchase Amortization Schedule


Proposed
Bus
Bus
Bus
Bus
Bus
Bus
Bus
Purchases Purchases Purchases Purchases Purchases Purchases Purchases
$1,328,000 $ 822,412 $1,128,703 $1,771,262 $1,892,324 $1,817,740
Totals
Year
5-Yr Bond 5-Yr Bond 5-Yr Bond 5-Yr Bond
2009-10

301,038

2010-11

285,469

172,197

2011-12

287,503

168,824

220,050

2012-13

288,894

175,916

236,600

319,896

2013-14
2014-15
2015-16
2016-17
2017-18
2018-19

294,713

177,347
187,664

242,100
247,400
252,500

360,956
372,206
387,806
397,716

881,949 1,198,650

1,838,580

1,457,616

Annual
5-Yr Bond 5-Yr Bond Payments
1,249,173
1,190,710
1,175,415
1,230,663
353,703
383,800
395,025
401,125
417,075

394,772
399,600
398,650
397,400
395,850

1,428,819
1,585,842
1,434,931
1,197,491
814,475
395,850

1,950,728 1,986,272
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Let Schools BE School


The budget...it is not
about dollars and
cents...it is about what
programs and services
do we want to offer to
our students and how
effective do we want
them to be.

3/21/2013

Dr. L. Oliver Robinson, Superintendent of


Schools

21

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