EAST STROUDSBURG AREA SCHOOL DISTRICT 2017-18 BUDGET PROPOSED FINAL BUDGET 5/15/17

LEGAL REQUIREMENTS Section 687(a)(1) of the School Code: the District must adopt a Proposed Final Budget no later than May 31, 2017 or 30 days prior to adoption of Final Budget. Section 687 (a)(2)(i) of the School Code: the Proposed Final Budget must be advertised and displayed 20 days prior to Final Budget Adoption. Section 312(a) of the School Code: the District must adopt a Final Budget no later than June 30, 2017, unless the State Budget has not been passed.

REVENUES

DRAFT 1 Anticipated Revenues $153,242,047 Anticipated Expenses $160,947,459 Expenses > Revenues $ 7,705,412

BUDGET ADJUSTMENTS -REVENUES Account Draft 1 Proposed Final Change Reason R E Tax Revenue $87,230,000 $88,786,332 $1,556,332 $7.5M Reverse Appeals Special Ed Funding $3,919,615 $4,048.343 $128,728 Anticipated 16-17 Funding Soc Sec Reimb $2,704,161 $2,713,575 $9,414 Staffing & Salary Adj Retirement Reimb $11,563,043 $11,491,501 ($71,542) DEP Grant $0 $200,000 Propane Buses

BUDGET ADJUSTMENTS - EXPENDITURES Account Draft 1 Proposed Final Change Reason Salaries $65,603,022 $64,565,166 ($1,037,856) (23.0) FTE, OT, Subs Soc Security $4,913,488 $4,933,773 20,285 Salary Adjust Retirement $21,231,669 $20,893,639 ($338,030) Health Insurance $17,894,097 $18,290,080 $395,983 10.6% Claims Trend past 12 mos IU Expenses $5,515788 $5,573,298 $57,510 2nd Midterm Projections MCTI $2,051,628 $1,882,758 ($168,870) Approved Budget Insurance $613,366 $583,266 ($30,100) Renewals Sr. Citizens Tax Rebate $0 $550,000 Missed in software conversion Pupil Services $212,725 $167,725 $50,000 RTL for Project Fame

PROPOSED FINAL Anticipated Revenues $154,966,923 Anticipated Expenses $159,758,538 Expenses > Revenues $ 4,791,615

TAX RATES Section 672.1(a)(1) of the School Code: the District must balance its tax rates in the same proportion as the Market Values as determined by STEB. Monroe County 177.86 (0.00 Mill Increase) Pike County 122.91 (1.64 Mill Increase) Tax Rate History – 2011-12 to 2017-18 Monroe County tax rates have fallen 2.95 mills (1.63%) Pike County tax rates have fallen 5.97 mills (4.63%)

NEXT STEPS Evaluate Staffing Needs Reflect cost savings on the computer leases Workers’ Comp Self-insurance