Preliminary 2015-16 Budgets

Board Planning RetreatFebruary 10, 2015

2015-16 Student Enrollment Projection

2015-16 District Enrollment Projection ???

2014-15 State Enrollment Projection 12,353District Projected Enrollment Increase ???

40th Day Reported Enrollment 12,107Less: State Projection 12,353Over projection (246)

State Budget Reduction: ($431,956)

Projected Local Revenue Increase

County per pupil for enrollment growth $ ???

1% Inflationary increase to district tax $ 326,517

Savings from State longevity (certified staff)

195,000 Total Net Increase $

521,517

Projected Local Continuation and Expansion Budget

IncreasesState Mandates 2% State pay raise (placeholder) $1,015,269 Employer health insurance match increase ($5378 to $5475) $

81,480 State retirement match increase (15.21% to 15.82% estimated) $ 222,650 Affordable Care Act – health insurance for temporary staff $

54,750Subtotal $1,374,149

Continuation of Current Services Charter school student enrollment – Revenue Sharing $ 300,000 National Board stipends –teachers moved to Local fund $ 86,500 Driver Training (loss of State funds) $ 210,000 Orange County Living Wage match – to $12.76 per hour $ 36,500

(Locally-paid staff only)

Subtotal $ 633,000

TOTAL OF CONTINUATION BUDGET REQUESTS $2,007,149

Projected Local Continuation and Expansion Budget

Increases

Expansion RequestsGuidance Program Review $ 50,000Classified Employee Pay Study Salary Adjustments (est.) 200,000Administrative Employee Pay Study Salary Adjustments (est.) 250,000Expansion Requests from Schools and Administrative Office 3,831,170TOTAL OF EXPANSION REQUESTS $4,331,170

GRAND TOTAL OF CONTINUATION AND EXPANSION REQUESTS $6,338,319

BUDGET SHORTFALL ($5,816,802)

Ad Valorem Tax Increase Required to Fund Budget Shortfall

Using Current Year Valuation:

County Ad Valorem Tax Increase= $5,816,802/$1,009,156 = 5.76 cents

($1,638,241 X 61.6% = $1,009,156)

Local Fund Balance Projection

Assign $1,000,000 in Fund Balance for 2015-16

Estimated year-end unassigned fund balance for June 30, 2015 is $3.8 million or 5.57%; slightly above target

2015-16 State Budget

Potential pay raise for teachers if the entry level salary is increased from $33,000 to $35,000

May permanently lose the $199,479 in Driver Training funds

Student enrollment growth projection will be a low number; small budget increase

Key Dates on the Budget Development Calendar

March 5 - Budget work session March 19 - Public Hearing and budget work

session April 16 - Budget discussion and approval of

budget to be submitted to the County

April 20 - Submit Board’s budget request to County

April 28 - Joint meeting of school board’s for budget presentations to County