Walton Central School District

Budget HearingMay 10, 2016

1

Overview

• Health insurance• Revenue• Appropriations

2

Health Insurance

• Good news – renegotiation, savings

• Bad news – money owed to old consortium

• Good news – planned for money owed

• Very good news – Less increases3

Health Insurance

Cost

Time 4

Budget Rule #1

Revenue must equal appropriations

(Money In = Money Out)5

Revenue

• State aid• Foundation Aid• Expense-driven Aids

• Local property taxes• Tax Levy Limit (not tax cap) is .12

percent (preliminary) or about $7,200 before exemptions

• Exceeding the TLL requires supermajority

State Aid62.5%

LocalProperty

Tax32.5%

Misc.5%

6

Revenue

Revenue ComparisonBudget 2015-16 $20,511,499

Proposed 2016-17 $20,133,226

$378,273 lessrevenue next year

7

Revenue

• Less revenue, but less expense• Less building aid offset by lower bond payments

• $516,989 (4.6%) increase in non-building aid

• Less than expected (like other area districts)• Normally receive more than governor’s proposal

• Money went to Gap Elimination Adjustment, Community Schools & Big Five?

8

Revenue

Good news

No taxincrease!

That’s right…

9

Appropriations/Expenditures

• 2015-16 Budget- $ 20,511,499

• 2016-17 Proposed Appropriations- $ 20,133,226

• Added Programs

10

Additions

• PE Teacher• Teacher on Special

Assignment• Technology Staff• Reading Teacher• Elementary Summer

School• MS/HS Summer

School11

• Preventative Worker (2)• JV Sports• After School Monitor• Piano Accompanist• Summer Help• AP Courses

But…

12

Can we sustainthe additions in the future?

2016-17Proposed Assumption Projection Assumption Projection Assumption Projection6,359,859.00$ 2.00% 6,487,056$ 2.00% 6,616,797$ 2.00% 6,749,133$

12,734,975.00$ 3.50% 13,180,699$ 3.50% 13,642,024$ 3.50% 14,119,495$ 40,000$ 1.00% 40,400$ 1.00% 40,804$ 1.00% 41,212$

431,196.00$ 1.00% 435,508$ 1.00% 439,863$ 1.00% 444,262$ 567,196.24$ 0.00% 567,196$ 0.00% 567,196$ 0.00% 567,196$

20,133,226$ 20,710,860$ 21,306,684$ 21,921,298$

2016-17Budget Assumption Projection Assumption Projection Assumption Projection

8,262,831$ 3.00% 8,510,716$ 2.00% 8,680,930$ 2.00% 8,854,549$ 72,941$ 0.00% 72,941$ 0.00% 72,941$ 0.00% 72,941$

1,094,917$ 0.00% 1,094,917$ 0.00% 1,094,917$ 0.00% 1,094,917$ 3,004,244$ 3.00% 3,094,371$ 3.00% 3,187,202$ 3.00% 3,282,818$

659,375$ 0.00% 659,375$ 0.00% 659,375$ 0.00% 659,375$ 1,342,653$ 0.00% 1,342,653$ 0.00% 1,342,653$ 0.00% 1,342,653$ 3,839,279$ 5.00% 4,031,243$ 6.00% 4,273,118$ 6.00% 4,529,505$

682,000$ 2.00% 695,640$ 2.00% 709,553$ 2.00% 723,744$ 325,846$ 2.00% 332,363$ 2.00% 339,010$ 2.00% 345,790$ 849,140$ 3.00% 874,614$ 3.00% 900,853$ 3.00% 927,879$

-$ 0.00% -$ 0.00% -$ 0.00% -$

20,133,226$ 20,708,833$ 21,260,552$ 21,834,171$

0$ 2,026$ 46,132$ 87,127$ Budget Gap

Revenues

ExpendituresSalariesEquipment

Appropriated BalanceOther (Includes Use of Reserves)

2019-20

Total Revenues

Property Taxes

2017-18

Federal Aid

All Other Benefits

ContractualBOCES

State Aid

Supplies & Materials

Interfund Transfers

Total Expenditures

WALTON CENTRAL SCHOOL DISTRICTFIVE YEAR PROJECTION (April 19, 2016)

Debt ServiceHealth InsuranceTeachers' Retirement SystemEmployees' Retirement System

2017-18

2018-19 2019-20

2018-19

13

Contingency Budget

• If voters fail to approve the proposal, the board of education has three choices:

• Resubmit the defeated budget for a second vote;• Submit a revised budget with a lower tax levy

increase – and more cuts – for vote;• Or adopt a contingency budget

• Board may choose to adopt a contingency budget after proposed budget is defeated once rather than re-vote.

14

Contingency Budget

If the budget is defeated twice, the BOE must:

• Adopt a budget with no tax levy increase; and

• Eliminate all non-contingent expenses such as:• Student supplies• Free community use of buildings/grounds• Certain equipment• Certain salary increases

15

Propositions

16

Proposition # 1: Vote yes or no2016-17 Proposed Budget

Proposition # 2: Vote yes or noLease four buses for five years

Proposition # 3: Vote yes or noLibrary budget

School Board Election: Choose three candidatesEach is three-year term

2016-17 Budget Vote

When: Noon - 9 p.m.Tuesday, May 17, 2016

Where: Walton CSD SchoolBus Garage

Who: 18 years old, U.S. citizen, Walton CSD resident for atleast 30 days prior to thevote.

17

Questions ?

18