Lebanon Borough School 2013/2014 Budget Hearing March 21,2013 Heather Spitzer-Business Administrator Tim O’Brien-Superintendent

Budget Process 2013 Needs based Priorities set by administration and BOE Mandates and Costs Savings & Revenue Enrollment Year Over Year Comparisons State Aid Summary Tax Rate Calculations & Tax Impact

Needs & Goals Student Achievement Safety & Security Maintain community investment in Facilities Fiscal Responsibility

Unfunded Mandates PARCC (online testing) Teacher & Principal Evaluations State Curricular Changes with Mandated Timelines HIB Special Education Law and ADA compliance(504)- example: there is no funding for any 504 requirements.

Summary of State Aid

Budget Highlights Facility Security System Upgrade HVAC Project Unfunded State Mandates Staff and Student Information System Teacher Evaluation System Curriculum & Programs Professional Development – New CCCS Instructional Hardware / Supporting Technology Benchmark Testing Preparation Art – increase in time 1 day per week Establish Gifted & Talented Program After School Activities

Tax Impact Total Net Tax Levy decrease of ($96,038) or (4.62%). Tax decrease of ($8.40) per $100,000 of assessed home value OR (1.01%).

How to Calculate the Tax Rate: 2012/2013 BUDGET 2013/2014 PROJECTION % CHANGE ANNUAL INCREASE (DECREASE) TAX LEVY based on Proposed Budget Tax Rate Tax Levy - General Fund$2,268,599 $0.83 $2,172,561 $ %($96,038) Tax Levy - Debt Service$0 $0.00 $0 $0.00 0%0 TOTAL LOCAL SCHOOL TAX LEVY:$2,268,599$2,172,561(4.62%)($96,038) LOCAL SCHOOL TAX:*$0.83$0.79($0.04) *per $100 of assessed valuation ASSESSED VALUATIONS$272,346,679$273,448,103(4.62%)($96,038) *Local School Tax Levy/Assessed Valuations Source: Preliminary Equalization Table, County of Hunterdon for the year

What does that tax rate calculation mean to me? The tax rate is based on average assessed property values. The average assessed property values have increased $1,101,424 or 0.40% and the tax levy has decreased ($96,038) or (4.62%) resulting in a tax saving per household. Example: 2012 House Value (Tax Assessment): $100, Home Value (Tax Assessment): $104,000 (.40% increase) 2012 Tax Rate of 0.83 per $100 of assessed Values 2013 Tax Rate of 0.79 per $100 of assessed Values So 2012 Property Tax Dollar Amount:$ $0.83 rate) 2013 Property Tax Dollar Amount:$ ($104,000 $0.79 rate) Actual Dollar Decrease: $8.40, or 1.01%

Questions & Thank You Additional questions may be sent to the Superintendent, Mr. O’Brien at: