SCHOOL DISTRICT 2016-2017 Proposed Preliminary General Fund Budget
2016-2017 Spending Plan
Expenditure Adjustment Since December 21, 2015 $292,706 Increase Initially Published PSERS Rate to Certified 29.69% to 30.03% Application of Administrative Budget Submissions Student Transportation Budget (Special Needs)
Note: 1:1 Technology Initiative not currently included in budget. If approved. Strategy for inclusion will primarily involve cuts district-wide to supplies budget and/or grant funding. 2
GENERAL FUND PROPOSED PRELIMINARY BUDGET SPENDING PLAN INCREASE
GENERAL FUND 2016-2017 Proposed Preliminary Operating Budget: $50,665,610 2015-2016 Current Operating Budget: $47,972,923 $ Value of Operating Budget Increase: $2,692,687 % Value of Operating Budget Increase:
5.61%
A. 16-17 $50.55 million in spending to meet operational cost.
B. $2.69 million or 5.61%million increase over current year. C. $745,241 or 3 quarters million less than last year this time. 3
GENERAL FUND PROPOSED PRELIMINARY BUDGET BALANCED BUDGET FLOW OF FUNDS [Above Index]
GENERAL FUND Budgeted Beginning Fund Balance - 7/1/16: $11,540,668 2016-2017 Proposed Preliminary Revenues [Without Real Estate Tax Increase] : $45,798,297 2016-2017 Proposed Preliminary Expenditures: $50,665,610 Deficit Before Proposed Preliminary Tax Increase: $4,867,313 Proposed .5106 Mills (3.0%) Real Estate Tax Increase [STSD Act 1 Index 2.4%] : $784,303 Operating Deficit After Proposed Preliminary Tax Increase [Funded By Fund Balance] : $4,083,010 Budgeted Ending Fund Balance - 6/30/17 : $7,457,658 A. Synopsis of flow of fund proposed to balance budget. B. Proposal includes a 3.0% tax increase which is above State Index (2.4%) C. Generates approximately $784,303 in real estate tax revenues. 4
GENERAL FUND PROPOSED PRELIMINARY BUDGET MILLAGE/TAXPAYER IMPACT [Above Index]
THE BOTTOM LINE
2015-2016 Current Millage Rate : 17.0200 Proposed Preliminary Millage Increase : 0.5106 2016-2017 Proposed Preliminary Millage Rate: 17.5306 Millage % Increase : 3.00% Estimated $ Value of Mill [Post Homestead] : $1,648,115 2016-2017 Proposed Preliminary Real Estate Tax Revenues [93.20% Collection Rate] : $26,927,762 Annual Real Estate Tax Increase to Homeowner : $57.29 [$112,200 - Median Residential Property Assessed Value] Monthly Real Estate Tax Increase to Homeowner : $4.77 [$112,200 Median Residential Property Assessed Value] A. Summary of how the proposed tax increase impacts both millage rate/taxpayers. B. Property assessed value used to compute taxpayer increase A. 14-15 Median Residential Property Assessed Value. 5
GENERAL FUND PROPOSED PRELIMINARY BUDGET DAUPHIN COUNTY SDs CURRENT MILLAGE RATES RANKING Highest
Lowest A. Districts real estate millage rate is amongst lowest of the DC districts at 17.0200 mills. B. Only one of the 10 DC districts has maintained a millage rate below STSD which is CD. C. Districts like DT, LD, MA are at millage rates equivalent to more than 1 mill higher than STSD (1 mill for STSD @ 93.20 % represents $1.64 million dollars). 6
GENERAL FUND PROPOSED PRELIMINARY BUDGET DAUPHIN COUNTY SDs CURRENT YEAR REAL ESTATE TAX COMPARISON
A. Real estate tax comparison amongst DC district focuses on Annual Real Estate Tax bills/ cost based on a Residential Property with Assessed Value of $112,200. B. STSD residents are currently paying $1,909.64 in real estate taxes. C. CD residents are the only residents paying less in current year real estate taxes. D. HC residents are paying the greatest amount in current year real estate taxes. 7
GENERAL FUND PROPOSED PRELIMINARY BUDGET DAUPHIN COUNTY SDs 2015-2016 YEAR REAL ESTATE TAX INCREASES District Central(Dauphin
A. Significant chart: 15-16 millage rate increases that were levied by DC districts. B. In 15-16 STSD projected a budgeted deficit of $2.6 million and did not increase its real estate taxes. There were 4 other districts that did not increase 15-16 real estate taxes. C. 5 districts, CD, UDA, DT, MA, HA increased real estate taxes with millage rate increases ranging from 1.0% to 7.38%. 8
GENERAL FUND PROPOSED PRELIMINARY REVENUE COMPOSITION
STATE AVERAGES STSD 16% below state avg.
Local: State: Federal: Total:
58% 37% 5% 100%
STSD 20% above local avg.
A. 16-17 proposed preliminary revenues equate to $46.58 million.
B. Revenue make-up consists of 3 different sources. C. Significant reliance locally at STSD. D. Local revenues generated are well above state average. State revenues generated are well 9 below state average.
GENERAL FUND PROPOSED PRELIMINARY REVENUE HIGHLIGHTS Moderate growth in property assessed value generating an increase in real estate tax revenues $229,001 Proposed 3.0% real estate tax increase generating an increase in real estate tax revenues $784,303 Increase in State Retirement (PSERS) revenues based on state formula $100,390 Reduction in Earned Income Tax revenues to adjust budget to actual receipts trends $100,000 10
GENERAL FUND PROPOSED PRELIMINARY REVENUE DETAIL REVENUE DESCRIPTION LOCAL REVENUES Current Real Estate Tax Earned Income Tax Current Personal School Tax Delinquent Real Estate Tax Delinquent Personal School Tax Other Local Revenues TOTAL LOCAL REVENUES STATE REVENUES Basic Education Special Education Transportation Social Security Retirement Other State Revenues TOTAL STATE REVENUES TOTAL FEDERAL REVENUES TOTAL OTHER FINANCING REVENUES GRAND TOTAL REVENUES
2016-2017 PROPOSED $ VALUE % VALUE PRELIMINARY INCREASE/ INCREASE/ BUDGET DECREASE DECREASE
B. Actual, Budget, Proposed. C. Aggregate proposed revenue increase over current year: $1.26 million or 2.78%. 11
GENERAL FUND PROPOSED PRELIMINARY EXPENDITURE COMPOSITION
A. 16-17 proposed preliminary expenditures equate to $50.66 million in spending.
B. 93% consists of funds to provide for salaries & benefits, professional & technical services, out of district tuition students & insurances, and debt service. 12
GENERAL FUND PROPOSED PRELIMINARY EXPENDITURE HIGHLIGHTS Increase in staff salaries required per Professional (2.6%), Support (3.0%), and Custodial/Maintenance (3.85%) Employment Contracts $590,164 Addition of 10 new positions and the elimination of 10 existing to address projected program needs Mandated Increase in Pennsylvania Schools Employee Retirement System Contribution from 25.84% to 30.03% $1,005,027 Projected 8%Increase in Medical Insurance Cost with Capital Blue Cross $379,357 Increase in Out of District Tuition Student Cost $243,226 13
GENERAL FUND PROPOSED PRELIMINARY EXPENDITURE DETAIL
2013-2014 EXPENDITURE DESCRIPTION OBJECT ACTUAL Salaries 100 $18,954,855 Benefits 200 $9,363,463 Purchased Professional & Technical Services 300 $3,226,763 Purchased Property Services 400 $1,141,068 Other Purchased Services 500 $6,054,144 Supplies 600 $1,399,815 Property/Equipment 700 $159,852 Other Objects 800 $1,393,883 Other Financing Uses 900 $10,979,620 Fund Transfers 0 $0 GRAND TOTAL EXPENDITURES $52,673,463
