Draft Budget Presentation Draft 2017-18 Budget Midd-West School District 1-9-17 Finance Committee Presentation
Presentation Outline Act 1 2017-18 Timelines Revenue Analysis Expenditure Analysis Expenditure Analysis Trends Millage Analysis Building Budget Review Maintenance / Operations Budget Information Technology Budget Central Office Curriculum Budget Special Education Budget Appendix
2017-18 First Draft Budget
Act 1 2017-18 Timelines 2017-18 adjusted index set at 3.4% Max millage increase to index is 2.3838 mills 2016 assessment currently at $ 174,808,640 (subject to change) Max additional revenue to index = $416,709 Pursuant to the resolution passed, the District may not increase tax rates by more than its index when preparing the final budget Timeline per Act 1 December 5, 2016 - Index resolution adopted May 31,2016 - Deadline to adopt preliminary budget June 30, 2016 - Deadline to adopt final budget & homestead/farmstead exclusion
Millage Analysis
Unknown Impacts At This Point PLANCON Phase II, lump sum of future bond subsidy revenue Busing adjustments with ride length and possible schedule adjustments Federal political environment and grant (Title I,II) revenue School property tax elimination bill 2017 Bank Qualified Bond Part II, and any savings in the 2017-18 year
Selected Budget Review Maintenance/Operations Information Technology Central Office Curriculum Special Education
Maintenance / Operations Budget
Information Technology Budget
Central Office Curriculum Budget
Special Education Budget
Appendix
Appendix Outline 2017-18 Millage Information Assessment Analysis of Snyder County Ten Year Taxation History Assessment History Act 1 Base vs. Adjusted Index Revenue History Local Revenue History Pension Expenditure Analysis Expenses by Object History Salary and Benefits History Debt Schedule Debt Refund Update
2017-18 Millage Information 2017-18 Adjusted Index Set at 3.4%, Base 2.5% Max millage increase to index is 2.3838 mills Assessment currently at $174,808,640 (subject to change) Maximum additional revenue to index = $416,709 (subject to change) CLR (Common Level Ratio) – 5.85 Average Residential Assessment $16,041, Farm $23,281, Commercial and Industrial $47,332 Increase to index would be $2.38 per $1,000 of Assessment
Assessment Analysis: Snyder County Data from October 2016
Taxation History
Assessment History
Act 1 Base vs. Adjusted Index
$5,054,727 $4,753,556 $4,619,708 $4,376,080 $3,988,845 $4,233,377 $4,253,585 $3,221,158
Pension Expenditure Analysis
Debt Schedule
Debt Refund Update – Bond Closing