Bradley Beach Board of Education 2019-2020 Budget Presentation Tuesday May 7, 2019

Bradley Beach of Education 2019-2020 Budget Timeline   March 19: Preliminary Budget Adoption April 2: Executive County Superintendent Approval May 7: Public Hearing

Legislation Impacting 2019-2020 Budget The Tax levy Cap Law Limits the increase in the tax levy to 2% Automatic tax levy waivers are available to districts to increase their tax levy above 2% for such things as increase in enrollment, health benefits and utilization of bank cap

Banked Cap Allows a district to increase it’s tax levy more than 2% Districts that have not increased their tax levy in prior years to 2% can save (bank) the difference between the maximum 2% and the amount that the district did raise Bank Cap is available for three years after being created

2019-2020 Cap Banking Eligibility Generated in 2016-2017 Generated in 2017-2018 Generated in 2018-2019 Generated in 2019-2020 Bank Cap Available $18,770 $0 $80,555 Amount Expiring 2019-2020 Available Banked Cap Carried Forward Bank Cap using in 2019-2020 Budget

The 2019-2020 Budget Provides Commitment to the improvement of facilities, as we will have a bid on Stairwell #2 & 3 Further support of the One-to-One Program, as well as providing classroom teachers secondary supplies such as Elmos and projectors Commitment to the completion of Writer’s Workshop through the purchase of materials and training Further development of Reader’s Workshop through the purchase of materials and training Commitment to the ongoing Strategic Plan

The 2019-2020 Budget Provides (continued) Supporting the proposed goals for the Five Year Strategic Plan Facilities – Fixing stairwell #2 & 3. Purchases to continue to supply classrooms with Smart technology, as well as secondary technology Curriculum – Develop new framework for Science, Language Arts, and Mathematics. Continued development of Reader’s and Writer’s Workshop. Development of Health, Physical Education, World Language, Performing Arts and Fine Arts curriculum Maintains Small Class Sizes Maintains all athletics and arts program Maintains the expanded Pre-School program

2018-2019 Revised Revenues (as of 2/1/19) General Fund Revenues 2018-2019 Revised Revenues (as of 2/1/19) 2019-2020 Proposed Revenues State Aid $1,021,859 $959,328 Fund Balance 201,835 271,253 Withdrawal Maintenance Reserve. 50,000 Withdrawal Emergency Reserve 71,700 Unrestricted Miscellaneous Revenue 10,000 9,750 Tuition From Individuals 15,250 Adjustment for Prior Year Encumbrances 9,698 n/a Tax Levy 5,977,008 6,195,873 Total General Fund $7,307,350 $7,501,454

General Fund Balance In essence the Board’s Savings Account Limited by law to the greater of $250,000 plus allowable adjustments or 2% of the general fund budget plus allowable adjustments Fluctuates from year to year

General Fund Appropriations 2018-2019 Revised Appropriations (as of 2/1/19) 2019-2020 Proposed Appropriations Total Current Expense $7,281,188 $7,478,792 Total Capital Outlay 26,162 22,662 Total General Fund $7,307,350 $7,501,454

Advertised Appropriations Description/Activity 2019-2020 Appropriations Regular Program $2,260,029 Special Education $1,000 Bilingual Education $70,719 Co/Extra-Curricular Activities $42,414 School Sponsored Athletic Activities $43,288 Before/After School Program/Summer $28,950

Advertised Appropriations Description/Activity 2019-2020 Appropriations Tuition – Grades 9-12 and Special Education $1,966,440 Attendance and Social Work Services $61,022 Health Services $77,984 Student Related & Extraordinary $169,200 Child Study Team $238,576 Improvement of Instructional Services $124,389 Instructional Staff Training Service $12,000

Advertised Appropriations Description/Activity 2019-2020 Appropriations General Administration $278,494 School Administration $9,450 Central Service $176,583 Admin Info Technology $27,160 Operation & Maintenance $675,139 Transportation $241,575 Employee Benefits $974,380

Advertised Capital Outlay Appropriations Description/Activity 2019-2020 Appropriations Assessment on SDA Project $21,662 Interest on Capital Reserve $1,000

Budget Summary Comparison 2018-2019 vs 2019-2020 $ Diff. General Fund Tax Levy $5,977,008 $6,195,873 $218,865 Assessed Valuation $1,189,084,100 $1,345,674,200 $156,590,100 General Fund Tax Rate per $100 of Assessed Value $0.5027 $0.4604 $(0.0423) Total School Tax Rate (General Fund & Debt) Per $100 of Assessed Value $0.5173 $0.4733 $(0.0440)

Tax Impact 2019-2020 Budget Annual Tax on a Home with the following: 2018-2019 2019-2020 Difference Average Residential Assessment $546,917 $622,144 13.75% increase in assessment value $75,227 Annual General Fund Tax $2,749.35 $2,864.21 $114.86 Annual School Tax (General & Debt) $2,829.20 $2,944.46 $115.26

Budget Accomplishments Ensures fiscal responsibility, while addressing the needs of all students Begins the process of necessary facility upgrades Supports and further develops the One-to-One Program Continues the development and implementation of new curriculum Meets state mandates Provides for continued staff development Maintains current educational programs, athletics, and arts