DOVER-SHERBORN REGIONAL SCHOOL BUDGET – FY19 March 2018
Mission Driven The Dover Sherborn Schools share in the mission to inspire, challenge and support all students as they discover and pursue their full potential.
Goal Driven
Budgetary Focus Review & revise educational services Evaluate & maintain grounds and facilities Remain fiscally responsible & mindful of financial constraints continue trend budgeting and “spend smarter” focus Comply with Federal & State mandates Fund contractual obligations
Town Guidance Dover: Level Service Sherborn: Level Funded with 1.5% increase for salaries. Advisory has set aside a reserve for all Town Departments to submit appropriate requests for potential funding.
FY 19 Budget Drivers Enrollment projections remain constant for the foreseeable future Collective bargaining & contractual obligations based on FY18-FY20 negotiated agreements Healthcare costs reflect changes to plan design & offerings Keeping pace or ahead of healthcare marketplace changes
Overview of Operating Budget
FY19 Operating Budget Executive Summary & Comparison to FY18 FY19 Proposed Operating Budget $24,614,816 + 2.11% + $509,231 Revenues: Member Town Assessments: + $371,750 State funding from Chapter 70 and 71: +$124,771 Use of Excess and Deficiency: +$12,710 Expenditures: Projected enrollment is 1,207-1,223 (FY18 enrollment Oct. 1 - 1,194) FY19 educator salary increases are 2% on the top step & 1% within the matrix. All other contractual salary increases are 2%. +$575,000 all Salaries Educator retirements confirmed as of February 1st – $150,000 Salary reduction Employee related insurance costs, including Norfolk County Retirement, workers compensation, Medicare employer tax and health care: +$157,000 Net effect of continued trend budgeting - $39,500 reductions Fourth of five year of bus contract: +$6,664 Scheduled debt principal and interest payments – $22,300 reduction
FY19 Revenue Projections Town Assessments $21,547,183 State Funding 2,561,833 Student Fees and other 355,750 E&D Funds 150,000 Total Projected Revenue $24,614,816 Updated
Dover Sherborn Regional Schools FY 19 BUDGET- STATUTORY ASSESSMENT FY18 FY19 Variance % Operating Dover $11,235,560 $11,474,779 $239,219 2.13% Sherborn 8,913,906 9,068,804 154,898 1.74% $20,149,466 $20,543,583 $394,117 1.96% Debt 581,415 568,138 (13,277) -2.28% 444,552 435,462 (9,090) -2.04% $ 1,025,967 $ 1,003,600 ($ 22,367) (2.18%) Total 11,816,976 12,042,917 225,942 1.91% 9,358,457 9,504,266 145,808 1.56% $21,175,433 $21,547,183 $371,750 1.76% Updated 10 10
FY19 Capital Items (funded by IMA) Request Location Cost Asphalt Paving Middle School/Admin Bldg replacement $170,000 Fire Detection Field Sensors Campus-wide $50,000 VCT Replacement Lindquist Cafeteria $60,000 Kubota Tractor Grounds $45,000 Dell Unity Flash Storage Technology Courtyard roof High School $35,000 Walk-In freezer and refrigeration Food Service $25,000 Locker Room floor - boys HS Gym A/C Ductless Unit HS SPED office addition $20,000 Concrete work HS Health Office Entrance Exhaust/Ventilation $15,000 TOTAL $510,000
FY19 Community Investment Community financial support $300,000+ Boosters, DSEF, FOPA, POSITIVE, PTO, Mudge Foundation, Needham Bank, other company & private donations Thanks to the many supporters within our community!
We thank community members for their support to educate the students of Dover and Sherborn.