Assumptions State Aid has decreased over the past 2 years a total of $850,410. TRS and ERS are increasing. TRS from to 16.25%. ERS from 18.9% to 20.9% This is $172,938 increase to our TRS dollars & $27,624 increase to ERS dollars Health insurance costs will increase. Approximately 9.5% This is approximately $146,000 increase Possible loss in Title Grants due to the Budget Control Act of 2011close to $25,000.

Tax Levy Calculation Prior Year Levy ,717, Capital Aid using new interest rate calculation Tax Base Growthx Building 301, = 4,743, Less State Aid (294,192.00) Prior Year PILOT NYPA 137, = 4,743, Less State Aid (133,238.00) Prior Year Exemption (Not TRS or ERS)- 18, Track 45, Less State Aid (54,963.00) Adjusted Prior Year Levy= 4,725, Bus Purchases 128, Less Trans Aid (50,116.00) Allowable Growth Factorx 1.02 Exempt Amount 79, (lesser of CPI or 2%)= 4,819, PILOTS for coming year = 4,819, Available Carryover TRS TAX LEVY LIMIT= 4,819, Salaries 3,915, Coming School Year Exemptions+ 173, Prior Rate 11.84% Maximum Allowable Levy = 4,993, New Rate 16.25% Excess Percent 2.41% Difference from Adjusted to , Exempt Amount 94, Allowable Levy Percentage from Adj Prior Allowable Levy Percentage from Prior Levy DRAFT Beyond the 2% levy Limit all have heard about from last year, it is important to note: This potential 5.68% levy increase is comprised of approx. 2.7% to fund the Teachers' Retirement System increase and approx. 1% for the Capital Debt that is not offset by Capital Aid

Tax Levy Impact The estimated tax increase to the average household with an equalized assessment of $100,000 of property value would be less than $100.

10 Year Comparison SchoolTax %Tax LevyBudget toTotal YearIncreaseAmountBudget Voting Results %$3,270, %$9,312,259 1st $9,332,612 budget failed 350 to 370; 2nd budget passed 413 to %$3,462, %$9,594,488Passed 562 to %$3,562, %$9,896,892Passed 413 to %$3,929, %$10,558,849 1st $10,852,978 budget-failed 336 to 540; 2nd budget passed 496 to %$4,081, %$11,042,222Passed 361 to %$4,252, %$11,542,275Passed 314 to %$4,421, %$11,930,388Passed 291 to %$4,465, %$11,615,277Passed 280 to %$4,551, %$11,261,625Passed 321 to %$4,642, %$11,070,785Passed 307 to %$4,717, %$11,099,916Passed 307 to %$4,993, %$11,676,084

Summarize the Budget Components

SUMMARY CAPITAL COMPONENT Sub Budgets13-14 FTE12-13 Adopted12-13 YTD Proposed$+/- & encumbered TRANSPORTATION$70,000$50,500$132,000$62, passenger bus, 1- 8 passenger AWD van OPERATION AND MAINTENANCE7.475$1,003,588 $1,059,412$55,824 We used $71,100 from repair reserves last year JUDGMENTS AND CLAIMS $- $0 DEBT$491,498 $488,321($3,177)Refinanced old bonds at lower rate TRANSFERS-LUNCH FUND Prior Years$40,000 $0 TOTAL CAPITAL COMPONENT7.475$1,605,086$1,585,586$1,719,733$114, % Vehicle$132,000Salary & Bene$569,080 Equip$17,800Debt$488,321 Contractual$409,390Lunch Fund$40,000 Supplies$63,142 $1,097,401 $622,332 Budget:$1,719, Vehicle$70,000Salary & Bene$589,954 Equip$18,570Debt$491,498 Contractual$331,240Lunch Fund$40,000 Supplies$63,824 $1,121,452 $483,634 Budget:$1,605,086 Capital

SUMMARY ADMINISTRATIVE COMPONENT Sub Budgets FTE12-13 Adopted Y-T-D Proposed $ Change from BOARD OF EDUCATION0.00 $ 26,100 $ 26,132 $ 32 INSTRUCITONAL IMPROVEMENT0.00 $ 32,551 $ 33,191 $ 640 CENTRAL ADMINISTRATION2.00 $ 218,054 $ 218,053 $ 236,809 $ 18,755Increase all for Health Insurance FINANCE2.00 $ 200,015 $ 199,966 $ 227,640 $ 27,625$24,734 due to Health insurance LEGAL EXPENSES0.00 $ 19,000 $ 20,500 $ 1,500Expected Atty fee increase CENTRAL SERVICES0.00 $ 242,516 $ 236,216 $ 247,961 $ 5,445 6% school ins-Sandy, & 3% BOCES INSTRUCTIONAL ADMINISTRATION6.20 $ 422,637 $ 349,747 $ 487,414 $ 64,777 $33K Admin increase, $12K in TRS, $14K in Health Ins. TOTAL ADMINISTRATIVE COMPONENT10.20 $ 1,160,874$1,081,633 $ 1,279,647 $ 118, % Equip $ - Contractual $ 150,385 Supplies $ 47,712 BOCES $ 210,030 Salary & Ben $ 871,520 BUDGET $ 1,279, Equip $ 1,000 Contractual $ 142,575 Supplies $ 46,839 BOCES $ 209,682 Salary & Ben $ 760,778 BUDGET $ 1,160,874 Administration

Program SUMMARY PROGRAM COMPONENT BUDGETS Sub Budgets13-14 FTE12-13 Adopted13-14 Proposed$ +/ Notes TOTAL TEACHING68.03$6,185,720$6,462,643$276,923 $123K Salaries, $121K TRS $18K Health Ins. TOTAL INSTRUCTIONAL MEDIA1$287,927$312,391$24,464 $21,500 BOCES LAN Tech TOTAL PUPIL SERVICES4.8$705,614$715,194$9,579 $10K In TRS, $7K in Health Ins. TOTAL COMMUNITY SERVICES0$0 TOTAL TRANSPORTATION13.125$849,389$856,270$6,881 Health Ins, ERS TOTAL RETIREES$305,305$330,206$24,901 Health Insurance TOTAL PROGRAM COMPONENT86.955$8,333,955$8,676,704$342, % Budget BOCES$724,670 Equipment$20,581 Contractual$212,987 Tuition$330,000 Supplies$257,711 Salary & Bene$7,130,755 Budget:$8,676, Budget BOCES$736,515 Equipment$26,000 Contractual$218,393 Tuition$320,000 Supplies$230,406 Salary & Bene$6,802,641 Budget:$8,333,955

PROPOSED REVENUE Revenue Projections $ +/-% +/- Foundation Aid & GEA Restoration $ 3,933,660 $ 4,019,784 $ 86, % BOCES Aid $ 259,842 $ 219,365 $ (40,477)-15.58% Excess Cost and Public and Private Cost Aid $ 170,279 $ 197,252 $ 26, % Textbook, Computer Aids $ 50,487 $ 51,052 $ % Building Aid $ 490,922 $ 501,785 $ 10, % High Tax Aid $ - $ 127, % Transportation Aid $ 484,620 $ 445,852 $ (38,768)-8.00% Estimated State Revenue: $ 5,389,810 $ 5,562,613$ 172, % Property Taxes $ 4,717,406 $ 4,993,612 $ 276, % Non-Resident Tuition $ 172,000 $ 00.00% Health Consortium Rebate $ - $ 00.00% Refunds Prior Year Expenses $ 12,000 $ 00.00% Interest & Earnings $ 20,000 $ 00.00% Medicaid Reimbursement $ 42,000 $ 00.00% Penalties on Property Taxes $ 15,500 $ 00.00% Debt Service $ 85,000 $ 00.00% Miscellaneous $ 4,200 $ 00.00% Estimated Local Revenue: $ 5,068,106 $ 5,344,312$ 276, % Title I Grant $ 92,000 $ 95,207$ 3, % REAP Grant $ - $ 60, % ERS Reserve $ - $ 63, % Appropriated Reserves $ 75,000 $ 00.00% Fund Balance to Reduce Levy $ 475,000 $ 00.00% TOTAL REVENUE $ 11,099,916 $ 11,676,084$ 576, % Expense Revenue Budget$11,099, Proposed$11,676,084 Difference From Prior$576, % Proposed Expenses $ 11,676, Revenue Proposed $ 11,676,084 Balance($0)