William Floyd School District 2013 – 2014 Budget Proposal

2013 – 2014 Budget Challenges Maintain current instructional, athletics or co-curricular programs & educational opportunities for our students Maintain current instructional, athletics or co-curricular programs & educational opportunities for our students Maintain the “2% tax levy cap law” – without mandated relief and the uncertainty of State Aid (current 50 %) Maintain the “2% tax levy cap law” – without mandated relief and the uncertainty of State Aid (current 50 %) Fiscally responsible use of reserves if necessary to meet our budget goals without negatively impacting our long term fiscal health Fiscally responsible use of reserves if necessary to meet our budget goals without negatively impacting our long term fiscal health Maintain continual implementation of Career and Technical Education Academies (Hospitality, Cosmetology & Building Trades) Maintain continual implementation of Career and Technical Education Academies (Hospitality, Cosmetology & Building Trades) Maintain and improve efficiency in providing educational services Maintain and improve efficiency in providing educational services

2013 – 2014 Proposed Budget 2012 – 2013 Approved Budget $ 215, 783, – 2014 Proposed Budget $ 223, 634, 273 $$$ Change $7, 851, 191 % Change 3.64% Increase

2013 – 2014 Budget Gap Adopted Budget 2012 – 2013 Proposed Budget 2013 – 2014 BUDGET $215, 783, 082$223, 634, 273 TAX LEVY $91, 769, 995$93, 605, 395 ESTIMATED STATE AID $107, 869, 553$111, 029, 750 OTHER REVENUE SOURCES $16, 143, 534$16, 994, 000 ESTIMATED BUDGET GAP: $2, 005, 128

How can we can close the Proposed Budget Gap of $2, 005, 128  Increase State Aid  Raise Tax Levy Above 2%  Budget Reductions  Increase Use of Reserves  Increase applied Fund Balance

Funding the Budget 2009 – STATE AID $111, 484, 784 $104, 500, 000 $106, 818, 339 $107, 869, 553 (proposed) $111, 029, 751 TAX LEVY $74, 026, 090 $80, 121, 159 $88, 990, 091 $90, 769, 693 (2% Tax Cap) $ 93, 605, 395 Applied Fund Balance $9, 552, 692 $12, 210, 441 $12, 256, 028 $16, 994, 000 ??? Use of Reserves $1, 152, 715 $710, 000 $1, 175, 000 $2, 730, 000 ??? TOTAL BUDGET $194, 666, 853 $200, 029, 600 $208, 134, 194 $215, 783, 082 $223, 634, 273 $ Change $5, 362, 747 $8,104, 594 $7, 648, 888 $7, 851, 191 % Change 2.75%4.05%3.67%3.22% Project Assumptions: Zero (0) retirement Turnover Savings

How to close the Budget Gap $2, 005, 128

Increase State Aid? This cannot be counted on

Increasing the Tax Levy? Year Tax Levy Increase Percentage Passed By %64.5% %61.2% %50.15% %54.66% %???

Proposed Reductions Full Day Kindergarten (12 Elem Teachers, 3 Encore) (12 Elem Teachers, 3 Encore) Elementary Assistant Principal Cosmetology Teacher Music Program (Performance Secondary Level) (Performance Secondary Level) Naviance – College Initiative Cosmetology Assistant Speech Teacher Additional Backup for District wide Disaster Recovery Culinary Teacher NJROTC Urban Learning & Leadership Center Initiative Culinary Assistant ALL Sports Teams (Coaching Salaries Only) CTE Supplies Building and Trades Teacher Add to General Fund to Cover Grants Transportation late buses & Sports Add for Data Tech Team Supplies (District Wide) Savings from no Chaperones Equipment Reductions District Wide Attendance Management Team CTE Coordinator Stipends CTE Workbase Coordination

Use of Reserves? Increase use of Fund Balance? Fund Balance EOY 2012 Reserve Balance EOY 2012 $40, 056, 023 $710, 000

Recommendation: Increase use of Fund Balance $18, 999, 128

Key Budget Facts 2013 – 2014 Amount $223, 634, 273 Increase from previous year $7, 851, 191 Estimated Tax Increase 2.0% Estimated Tax Rate Per $100 of asset value $ Yearly Increase $ Daily Increase $ 0.28

Questions?