ELDRED CENTRAL SCHOOL DISTRICT PRELIMINARY 2018-19 BUDGET REVIEW

PROJECTED REVENUES REAL PROPERTY TAXES - $10,429,023; an increase of $307,491 or 3.04% as per Property Tax Cap Report submitted to SED; STATE AID - $5,725,608; decrease of $492,934; as per initial projections; OTHER REVENUES - $523,850 TOTAL REVENUE BUDGET - $16,678,481 DECREASE UNDER 2017-18 - $493,691 or 2.87%

Overview Figures are preliminary; NYS Budget due by April 1st; No use of unencumbered fund balance and reserves; Decrease in State Aid Projections, historically overestimated; No major equipment sales; Increased Real Property Taxes by 3.04%.

2018-19 BUDGET EXPENSE HIGHLIGHTS GENERAL SUPPORT SALARIES - Contractual Increases, Reduction in Spending on Superintendent and District Treasurer. Expenses remain flat. GENERAL SUPPORT OTHER – Expenses increased 2.6% to align the budget with actual results. Other expenses held flat. INSTRUCTIONAL SALARIES – Eliminated 11 Positions at an estimated 538,337 reduction in expenditures. Increased remaining salaries at 3%. INSTRUCTIONAL OTHER – Reduced Athletic Department Budget by $20,000. Reduction in BOCES Services through elimination of the CSE Chair service. Other expenses held flat.

2018-19 BUDGET EXPENSE HIGHLIGHTS TRANSPORTATION SALARIES – Increased Salaries 3%, Reduced Field Trips for the 2018-2019 School Year. TRANSPORTATION OTHER – Expenses increased 1% for inflation; EMPLOYEE BENEFITS – increase in health insurance premiums anticipated to be 7%. Reductions in ERS/TRS, Social Security/Medicare, and Health Insurance, due to reduction in force, are estimated at $455,930 DEBT SERVICE – No new debt issued. Payments made according to bond amortization.

2018-19 BUDGET EXPENSE HIGHLIGHTS Overall expenditures decreased $580,963 compared to prior fiscal year. Allowing us to begin replenishing the fund balance. Cafeteria prices will be increased to create a more sustainable food program.