08 09 Public Hearing
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  • 1. 2008-09 Budget Proposal 2007-08 Budget Proposal Innovation: The Path to Excellence Our goal is to develop a comprehensive budget Our goal is to develop a comprehensive budget that balances the educational needs of our that balances the educational needsafford students with what taxpayers can of our students with what taxpayers can afford. Dr. Brenda Myers, Superintendent Mrs. Miriam Zubal bmyers@groton.cnyric.org President, Board of Education 607-898-5301 Dr. Brenda Myers Sheri Shurtleff, Business Manager Superintendent sshurtle@groton.cnyric.org www.grotoncs.org
  • 2. Priorities Priorities ••Fiscal Stability Strategic Planning • Organizational Efficiency •Improve Student Performance • Strategic Planning •Maintain Facilities • Student Performance and Capital Assets
  • 3. Priorities • Facilities & Capital Assets • Communication & Public Information • Wellness & Conditioning • Technology Integration
  • 4. Cost Saving Strategies •Transition Cost to BOCES •Increased Monitoring of Special Ed. Costs •Reassignment of Staff •Expand Position to Libr. Media Specialist •Develop Internal Expertise •Share Promising Practices •Provide Ongoing Training & Support •Develop Five-Year Facility Plan •Develop Partnerships
  • 5. Where Do the $ Go? Salaries & Benefits 66.7% BOCES Services 16.6% Bond Principal & Interest 7.0% Maintenance & Bus Garage 2.3% (Not Including Salaries, BOCES, & Utilities) Utilities 1.6% All Other 5.8%
  • 6. What are the Increases This Year? BUS FUEL BOCES $60,000 $187,315 4% 13% SPECIAL EDUCATON $85,000 6% ALL OTHER DEBT SERVICE $47,856 $654,969 3% 48% PERSONNEL $355,157 26%
  • 7. Revenue Projection State Aid $10,244,883 Tax Levy $ 4,623,131 Building Aid $ 998,399 Approp. Fund Balance $ 430,000 Medicaid $ 105,000 All Other $ 245,079 (Interest, E-Rate, Admissions, Refunds, Misc. Sales, Gas Lease, Tuition, Donations)
  • 8. Revenue Comparison 18,000,000 OTHER, 780,079 16,000,000 OTHER, 781,381 14,000,000 TAX LEVY, 4,623,598 TAX LEVY, 4,408,051 12,000,000 998,399 NYS BUILDING AID 10,000,000 438,524 NYS EXPENSE-BASED AIDS, 2,297,714 NYS EXPENSE-BASED AIDS, 2,149,969 8,000,000 6,000,000 NYS FOUNDATION AID, NYS FOUNDATION AID, 4,000,000 7,946,702 7,478,270 2,000,000 0 2007-08 2008-09
  • 9. Proposition #2 2 School Buses and 1 Van •Total Cost: $209,144 •No Effect on 08-09 Levy •Borrowed Funds to be Repaid over 5 Years •State Aid will be Received over 5 Years: 83-85%
  • 10. Proposition #3 Building Capital Reserve Fund •Savings Account for Future Project •Offset Local Share •No Effect on Tax Levy •Transfer Money from Unplanned Revenues •Used Only with Voter Approval of Capital Project
  • 11. TAX LEVY OPERATIONAL TOTAL TAX LEVY COMPARISON BUDGET DEBT SERVICE BUDGET 2007-2008 Tax Levy 4,349,698 58,353 4,408,051 Estimated 2008-09 Tax Levy 4,454,577 168,554 4,623,131 Amount of Change 104,879 110,201 215,080 Percentage of Change to Total 2.38% 2.50% 4.88% Levy Change
  • 12. ESTIMATED TAX RATE Operational TAX RATE COMPARISON Budget Debt Service Total Budget 2007-2008 Tax Rate 20.30 0.27 20.57 Estimated 2008-09 Tax Rate * 18.20 0.45 18.65 Amount of Change (2.10) 0.18 (1.92) Percentage of Change to -10.21% 0.88% -9.33% Total Rate Change
  • 13. The Financial Picture Proposed Budget Increase Operational: $15,375,702 4.78% Debt Service: $ 1,270,790 4.33% Total: $16,646.493 9.11% Tax Levy: $ 4,454,577 4.88%
  • 14. Contingency Budget •Groton’s Contingency Calculation Result is Higher than Proposed Budget Mandatory if Budget Defeated Twice by Voters •Calculation Established by Law •Limits Budget Increase to 3.36% plus Debt Service and NYS Foundation Aid Increase •Only Cuts to Equipment and Certain Non- Contractual Salary Increases Would Be Required – Totaling $59,486 •District Must Charge Public for Any Costs Incurred for Use of Facilities
  • 15. STAR •Enhanced STAR (qualifying taxpayers over 65 must apply annually) reduces taxable assessments by $56,000 and will save approximately $1,185 •Basic STAR (on primary residence) reduces assessment by $30,000 and will save approximately $560
  • 16. STAR Rebate •Homeowners receiving Enhanced STAR will receive a 25% increase from last year •Homeowners with Basic STAR will receive same amount as last year. •Only Taxpayers who are newly eligible or who have moved need to file
  • 17. Questions?
  • 18. Vote: Tuesday, May 20th 12:00 – 9:00 PM District Office