Stillwater Board of Education

Budget Workshop
March 12, 2013

6:30 p.m.
Library/Media Center

Revised Budget
Expenditures $22,039,251 Revenues $20,910,023

(assumes no tax levy increase)

Budget Gap $1,129,228

Strategy to
Reduce

Budget Gap

Additional Revenues
$ 80,000 $100,000 $520,000 $700,000 Admin 2 – Global Foundries Additional State Aid (GEA/Foundation Aid) Fund Balance Total

Adjusted Budget Gap $1,129,228 – 700,000 = $429,228

Expenditure Reduction
$100,000 – Retirement Incentive
Adjusted Budget Gap $429,228 – 100,000 = $329,228

Further Expenditure Reductions
$ 5,000 - Eliminate some Schedule B Clubs $10,000 - No uniform replacement for 2013-14 $10,000 - Reduction in BOCES itinerant staff
Adjusted Budget Gap $329,228 – 25,000 = $304,228

Tax levy increase

required to fill
$304,228 budget gap is

3.536%

2012-13 Tax Levy 2013-14 Tax Levy Increase

$8,602,684 $8,906,912 $ 304,228

Percentage Increase Growth in Assessment Net Increase

3.536% .970% 2.566%

Town of Stillwater 12-13 Tax Rate Town of Stillwater 13-14 Tax Rate (projected)

$13.08/thousand $13.41/thousand

Increase of $.33/thousand

$200,000 assessment - $67.13 increase

Next Budget Workshop

Tuesday, April 2, 2013
6:30 p.m. L/M Center

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