HOLLIDAYSBURG AREA SCHOOL DISTRICT 2014-2015 BUDGET INFORMATION SESSIONS

NOTEWORTHY DEVELOPMENTS REVENUES Real Estate Taxes - Real Estate Tax Assessment Increase 4.7 million dollars creating net increase $450,000 Real Estate Transfer Taxes – Based on current collections $ 89,500 Earned Income Taxes – Based on current collections $ 78,000 Ready To Learn Block Grant – Omitted from Proposed Budget due to uncertainty

Other Includes: Teacher Extra Pay Department Chairs Early Retirement Incentives Schedule C Medical Opt-Out Payments

NOTEWORTHY DEVELOPMENTS SALARIES (OBJECT 100’s) SAVINGS GENERATED FROM RETIREMENTS 9 Teacher Retirements (Net of Retirement Incentive) ($131,538) POSITIONS ELIMINATED Business Office Administrator ($ 58,000) POSITIONS CREATED Business Office Assistant $ 20,800 Director of Technology $ 60,000

OTHER INCLUDES: TRAVEL ACCIDENT $ 323 LIFE INSURANCE $ 40,197 $ 323 LIFE INSURANCE $ 40,197 INCOME PROTECTION $ 39,376 VISION $ 11,704

NOTEWORTHY DEVELOPMENTS BENEFITS (OBJECT 200’s) HEALTH INSURANCE Consortium Increase of 4% $208,800 Health Insurance Conversion to High Deductible Plan (Teacher and Administrator Employee Groups) ($778,000) Health Savings Account-District Contribution $314,050 RETIREMENT CONTRIBUTION Rate increase from 16.93% to 21.40% $861,835

NOTEWORTHY DEVELOPMENTS PURCHASED SERVICES (OBJECTS 300-500’s) Copier Upgrade from Xerox to Savin ($50,737) Teacher Substitute Services Conversion $60,000 Legal Services $11,500 Electricity $17,300 Transportation $32,000 Charter School Tuition at Other Charter Schools $126,000

NOTEWORTHY DEVELOPMENTS SUPPLIES & EQUIPMENT(OBJECTS 600-700’s) Supplies – Reductions generated by administrative districtwide review of each department ($32,000) Natural Gas – Based on current consumption ($36,000) Transportation Fuel Adjustment Clause ($12,500) Books – Reductions generated by administrative districtwide review of each department ($19,200) Equipment – Determinations made by administrative team upon building visits and assessments Total Equipment Budgeted $114,287

OTHER INCLUDES: PUBLIC LIBRARY $36,630 REFUND PRIOR YEAR RECEIPTS $2,000 FOOD SERVICE EQUIPMENT $4,879

HOLLIDAYSBURG AREA SCHOOL DISTRICT MILLAGE IMPACT ON TAXPAYER   No Millage 1.5 Mill Millage 2.6% Increase To Max Act 1 Proposed Revenues 2014-2015 $ 44,325,241 $ 44,616,840 $ 44,811,240 Proposed Expenditures 2014-15 ($44,633,484) Net Increase/(Decrease) in Fund Balance ($308,243) ($16,644) $177,756 Average Residential Taxpayer Costs Average Assessed Value $14,921 Millage Rate 97.50 99.00 100.00 Tax $1,454.80 $1,477.18 $1,492.10 Increase/YEAR to the AVERAGE Taxpayer $0.00 $22.38 $37.30 Increase/MONTH to the AVERAGE Taxpayer $1.87 $3.11

BUDGET FORECASTING MODEL PROJECTION NOTES 2014/2015 2015/2016 2016/2017 2017/2018 Budgeted Revenues 2% Overall Increase Projected $ 44,325,241 $ 45,211,746 $ 46,115,981 $ 47,038,300 Mill Increase $205,000 per mill $ - Total Revenue   $ 44,325,241 $ 45,211,746 $ 46,115,981 $ 47,038,300 Budgeted Expenses Salaries 2% Increase Projected $ 20,186,836 $ 20,590,573 $ 21,002,384 $ 21,422,432 Retirement PSERS Projected Rates $ 4,319,983 $ 5,320,604 $ 6,147,398 $ 6,480,286 Medical Health Care 5% Increase Projected $ 5,057,369 $ 5,310,237 $ 5,575,749 $ 5,854,537 Other Expenses No Projected Increases $ 15,069,296 Total Expenses $ 44,633,484 $ 46,290,710 $ 47,794,827 $ 48,826,550 Revenues over Expenditures $ (308,243) $ (1,078,964) $ (1,678,847) $ (1,788,250) Use of Retirement Rate Stabilization Funds $ 636,451 $ 1,909,353 Projected Ending Deficit/Surplus $ (308,243) $ (442,513) $ (1,042,396) $ (1,151,799) $ (2,944,951) Total Projected Mills Needed thru 2017-18 14.37