2018-2019 Capital & Administrative Budget

Budget Calendar January 22, 2018 Budget Development, Assumptions, Parameters February 12, 2018 Administrative and Capital Component February 22, 2018 Special Meeting – Personnel Audit March 5, 2018 Program Component & Revenue March 19, 2018 Budget Workshop (if needed) April 3, 2018 April 16, 2018 Nominating Petitions Due to District Clerk April 19, 2018 Adoption of 2018-2019 Budget May 7, 2018 Budget Hearing May 15, 2018 BUDGET VOTE

Tax Levy Calculation 2018-2019 2017-2018 Tax Levy @ July 1, 2017 $59,161,047 $57,610,236 Tax Base Growth Factor 1.0254 1.0082 $60,663,738 $58,082,640 PILOTS receivable @ June 30, 2018 $ 1,641,846 $ 1,809,191 Capital Tax Levy @ June 30, 2018 $( 776,889) $( 612,743) $61,528,695 $59,279,088 Allowable Levy Growth Factor 1.02000 1.01260 $62,759,268 $60,026,004 PILOTS receivable (est.) @ June 30, 2019 $( 1,833,021) $(1,641,846) Total Levy Limit Before Exclusions $60,926,247 $58,384,158 Capital Tax Levy Exclusions @ June 30, 2019 $ 753,348 $ 776,889 Tax Levy Limit $61,679,595 4.26% Increase to Stay Within Simple Majority $ 2,518,548

Important Facts At This Time Retirements Due by March 1st for administrators Bids Sanitation, HVAC, Plumbing & Electrical Negotiations Secretarial/Paraprofessionals & CSEA Health Insurance Expected Increase in Premiums between 7% - 8% BOCES & BOCES Administration Costs Based on retirees, health insurance increases, etc.

CAPITAL COMPONENT

- HVAC Position, 3 PT Custodians CAPITAL COMPONENT 2017-2018 2018-2019 Inc. (Dec.) Salaries $ 2,846,698 $ 2,944,248 $ 97,550 - 37 FT Cleaners, 3 PT Cleaners - 9 Maintenance & Grounds - 2 Secretaries, 2 Supervisors, Summer Help, OT - HVAC Position, 3 PT Custodians Equipment $ 161,850 $ 161,850 $ 0 - Mower, Tractor, Pickup Truck/Plow Dump Truck/Plow Contractual Expenses $ 935,000

- EPEX for Natural Gas & Propane CAPITAL COMPONENT 2017-2018 2018-2019 Inc. (Dec.) Fuel & Utilities $ 847,500 $ 0 - EPEX for Natural Gas & Propane Supplies & Materials $ 388,383 $ 400,815 $ 12,432 - Increase due to price increases BOCES $ 63,000 - Air, lead, water testing, fire inspections Property Tax Refunds $ 50,000 $ 30,000 $( 20,000)

VALLEY CENTRAL SCHOOL DISTRICT CAPITAL COMPONENT 2017-2018 2018-2019 Inc. (Dec.) Debt Service $ 3,458,950 $ 2,101,828 $( 1,357,122) VALLEY CENTRAL SCHOOL DISTRICT DEBT Issue Year 12/15/2006 6/14/2012 2/15/2014 Not Bonded TOTAL Rate 3.8591% 4%** 2.0%   Proposition Safety & Preservation EXCEL Minimal & Essential EAT Project Proposition Date 5/17/2005 1/17/2008 5/17/2011 1/29/2015 Bond $ 4,000,000 $ 4,820,000 $ 7,190,000 $ 19,875,000 $ 35,885,000 Pd Thru 6/30/18 $ 3,100,000 $ 1,960,000 $ 1,675,000 $ 1,760,000 $ 6,735,000 Prin Due @ 6/30/18 $ 900,000 $ 2,860,000 $ 5,515,000 $ 18,115,000 $ 29,150,000 Principal 2018-2019 $ 300,000 $ 365,000 $ 440,000 $ 338,028 $ 1,443,028 Interest $ 36,000 $ 131,700 $ 146,100 $ 345,000 $ 658,800 Total Payments $ 336,000 $ 496,700 $ 586,100 $ 683,028 $ 2,101,828 Balance at June 2019 $ 600,000 $ 2,495,000 $ 5,075,000 $ 17,776,972 $ 27,706,972

CAPITAL COMPONENT 2017-2018 2018-2019 Inc. (Dec.) Capital Inter-fund Transfer $ 150,000 $ 150,000 $ 0 Employee Benefits $ 1,619,184 $ 1,533,739 $( 85,445) - health ins, ERS, Vision, Dental, Workers’ Comp, Unemployment ins, ACA fees TOTAL CAPITAL COMPONENT $10,520,565 $ 9,167,980 $( 1,352,585)

Capital Component 2017-2018 2018-2019 Inc (Dec) Salaries $ 2,846,698 $ 2,846,698 $ 2,944,248 $ 97,550 Equipment $ 161,850 $ 161,850 $ 0 Contractual Expenses $ 935,000 $ 935,000 Fuel & Utilities $ 847,500 $ 847,500 Supplies & Materials $ 388,383 $ 400,815 $ 12,432 BOCES $ 63,000 $ 63,000 $ 0 Property Tax Refunds $ 50,000 $ 30,000 $( 20,000) Debt Service $ 3,458,950 $ 2,101,828 $( 1,357,122) Capital Inter-fund Transfer $ 150,000 $ 150,000 $ 0 Employee Benefits $ 1,619,184 $ 1,533,739 $( 85,445) TOTAL CAPITAL COMPONENT $10,520,565 $ 9,167,980 $( 1,352,585)

ADMINISTRATIVE COMPONENT

Administrative Component 2017-2018 2018-2019 Inc (Dec) Board of Education $ 15,000 $ 0 District Clerk & District Meeting $ 83,908 $ 86,890 $ 2,982 - District Clerk Salary, Vote Expenses Superintendents’ Office $ 370,475 $ 333,386 $( 37,089) - Superintendent and Confidential Secretary Salary - Receptionist transferred to Business Office - Equip, Contractual Expenses, S&M

Administrative Component 2017-2018 2018-2019 Inc (Dec) Business Office $ 609,932 $ 783,691 $ 173,759 INCLUDES: - Salaries $ 428,272 $ 595,598 $ 167,326 - Asst. Supt, A/P, P/R, Treasurer, Staff Attendance, Receptionist, Student Registration, Clerk duties transferred to Business Office, ICA - Equipment $ 500 $ 0 - Contractual Expenses $ 147,000 $ 152,000 $ 5,000 - Fiscal Agent Fees, Auditing Fees, Machine Maintenance, Software, Tax Collection - Supplies & Materials $ 37,000 - BOCES $ 28,660 $ 30,093 $ 1,433

Administrative Component 2017-2018 2018-2019 Inc (Dec) Legal $ 100,000 $ 0 - fees for general and labor counsel administrative portion Personnel $ 251,891 $ 172,803 $( 79,088) - Administrative Assistant, 2 PT Clerks - Transferred Staff Attendance, Student Registration, Clerk duties to Bus.Office - Contractual Expenses, S&M, BOCES District Printing $ 20,000 Special Items $ 954,243 $ 987,026 $ 32,783 - All insurances, school dues, BOCES Administrative Costs

Administrative Component 2016-2017 2017-2018 Increase Curriculum Development & Supervision $ 432,365 $ 453,332 $ 20,967 - Asst Supt, Dir of Data & Testing, Administrative Asst, Clerk, Para Supervision Regular School Day $2,973,109 $3,021,158 $ 48,049 - ES, MS, HS Principals, Asst. Principals, Office Staff - Includes a new position at ALC titled Principal and Dir of Curr Dev - Equipment, Contractual Expenses, S&M Employee Benefits $2,221,238 $ 2,372,800 $ 151,562 - ERS, TRS, HI, Vision, Dental, WC, ACA TOTAL ADMINISTRATIVE COMPONENT $8,032,161 $ 8,346,085 $ 313,924

Administrative Component 2017-2018 2018-2019 Inc (Dec) Board of Education $ 15,000 $15,000 $0 District Clerk & District Meeting $ 83,908 $86,890 $2,982 Superintendent’s Office $ 370,475 $333,386 $(37,089) Business Office $ 609,932 $783,691 $173,759 Legal $ 100,000 $100,000 Personnel $ 251,891 $172,803 $(79,088) District Printing $ 20,000 $20,000 Special Items $ 954,243 $987,026 $32,783 Curriculum Development & Testing $ 432,365 $453,332 $20,967 Supervision Regular School Day $2,973,109 $3,021,158 $48,049 Employee Benefits $2,221,238 $2,372,800 $151,562 TOTAL ADMINISTRATIVE COMPONENT $8,032,161 $8,346,085 $313,924