BUDGETARY OVERVIEW OF BUDGET DEVELOPMENT March 12, 2007 Board of Education Meeting

SCHOOL BUDGET Significant Budgetary Considerations 1. Impact of Tax Certiorari Claims/Settlements 2. Changes in Assessed Valuation 3. Transportation 1. BOCES and purchase of replacement buses, or Bid for new service 4. Incarcerated Youth 1. Increase in allocation/increase in resulting state aid

SCHOOL BUDGET Significant Budgetary Considerations 5. Health Insurance Increases 6. Salary Increases 7. Retirement Cost Increases 8. Workers Compensation/Liability Insurance Cost Increases 9. High School Tuition Increases

March 6, Draft # 1 Budget $22,284,194 The Initial Draft Budget provides for: Budget to Budget Increase of 9.28% Projected Tax Rate Increase: With Tax Certiorari Claims: Greenburgh18.72% Mt. Pleasant18.20% Without Tax Certiorari Claims: Greenburgh7.50% Mt. Pleasant7.03%

March 12 Draft # 2 Budget $21,830,565 Draft # 2 Budget dated March 12, 2007 provides for: Budget to Budget Increase of 7.05% Projected Tax Rate Increase: With Tax Certiorari Claims: Greenburgh16.34% Mt. Pleasant15.83% Without Tax Certiorari Claims: Greenburgh5.35% Mt. Pleasant4.88%

Tax Rate Comparison Budget Development School True ValueTaxes on DistrictTax Rate$500,000Index $9, $7, $7, $6, $5, $4, Pocantico 7.10$3,

Mandated Budget Items Vs. Non Mandated Budget Items

Draft Budget # 1 Mandated 93.56% Non Mandated 6.44% $22,284,145 Mandated and Contractual: Cost Increases in this category include: MandatedNon Mandated Salaries$ 6,610,280$ 609,910 Equipment$ 15,000$ 91,555 Contractual$ 4,518,014$ 383,986 Supplies$ 291,120$ 150,973 Tuition$ 4,979,511$ -0- BOCES Services$ 1,943,472 $ 144,671 Incarcerated$ 2,448,249$ -0- Total$20,849,646$1,434, % 6.44%

Tax Certiorari and Assessment Changes A Tax Certiorari Changes Comes About as a Result of Commercial Property Owner Claim That Their Property Assessment is Too High, and Therefore Their Tax Bill is Too High. Court Ordered Judgments to Reduce The Assessment of A Commercial Property, Plus Refunds of Taxes Overpaid in Prior Years Affects the School Tax Rate Negatively.

March 12, 2007 Possible Budget Deletions From Draft # 1 A1010-BOARD OF EDUCATIONPage CONTRACTUAL EXPENSES $ 3,205 Consultants, in district travel A1240 – SUPERINTENDENT Page – Equipment $ 3,000 A1620- CENTRAL SERVICESPage –Equipment $ 3, – Fuel Oil$ 30, Contractual Expenses$ 53,000 $ 86,200

March 12, 2007 Possible Budget Deletions From Draft # 1 A2110 – TEACHING REGULAR SCHOOL Page Teacher Salary 1-5$ 58, Teacher Salary 6-8$ 50, Equipment$ 25, Contractual$ 31, Materials & Supplies$ 50, Textbooks$ 15,000 $ 231,014

March 12, 2007 Possible Budget Deletions From Draft # 1 A2250- STUDENTS WITH DISABILITES Page Instructional Salary$ 5, Contractual$ 4, Materials & Supplies$ 1,000$ 10,330 A2610-SCHOOL LIBRARY & AV Page Contractual$ 1,180 A2630-Computer Assisted Instruction 260-Computer Hardware$ 5, Materials & Supplies$ 5, Computer Software$ 5, BOCES SERVICES$ 93,000$109,180

March 12, 2007 Possible Budget Deletions From Draft # 1 A2800-PUPIL PESONNEL SERVICESPage Equipment$ Contractual$ 1, Materials & Supplies$ 4, Computer Software$ 3,000$ 8,700 A2855-INTERSCHOLASTIC ATHLETICSPage Materials & Supplies$ 1,000 $ 1,000 A7142-AFTERSCHOOL PROGRAMPage Computer Software$ 1,000$ 1,000 TOTAL$453,629

Assessed Valuation Mt. PleasantGreenburgh ,715,48441,933, ,631,07341,723, ,248,57240,879, ,870,15640,827, est.15,274,06535,001, /07-08 Change (596,091) (5,825,813) Tax Rate Impact: 11.22% 11.17%

Assessed Valuation Mt. Pleasant Before Changes Affecting

Assessed Valuation Mt. Pleasant After Tax Certiorari Claim Settlements Decrease of $596,091

Assessed Valuation – Greenburgh Before Changes Affecting

Assessed Valuation – Greenburgh After Tax Certiorari Claim Settlements Decrease of $5,825,813

Contingency Budgets Single revote: Upon the defeat of the original proposed school budget, a district may resubmit the original budget, submit a revised budget, or adopt a contingency budget. If the voters fail to approve the budget upon the second vote, the district must adopt a contingency budget. Expanded definition: Interscholastic athletics, field trips, other extracurricular activities, and related transportation expenses are contingent expenses.

Contingency Budgets Administrative cap: The administrative component of a contingency budget will be limited to the lesser of: 1) the percentage of the administrative component in the prior year’s budget or 2) the percentage of the administrative component in the last defeated proposed budget. Cap on total spending: Total spending under a contingency budget may not increase by more than 120 % of national CPI or 4.00%, whichever is lower. For the cap is 3.84 %.

Contingency Budget How the contingency/austerity budget cap is calculated: Adopted Budget$19,916,971 Less Debt Service$( 489,309) Adjusted Base Year Budget$19,427,662

Contingency Budget How the maximum contingency/austerity budget cap is calculated: Adjusted Base Year Budget$19,427,662 Adjusted Budget x 120% of CPI3.84% $20,173,684 Debt Service $ 538,175 Growth Related Expenditures$ 726,925 Maximum Contingency Budget$21,438,784 Required Budgetary Cuts$ 391,781 Projected Tax Rate Increase: Greenburgh:15.91% Mt. Pleasant:15.40%

Possible Areas of Expense Reduction Summer Camp/Swim Program Student Supplies Community Use of Buildings and Grounds Certain Equipment Software Staff Technology Overtime Field Trips

Tax Rate Table BUDGET AMOUNT IMPACT ON TAX RATE $ 100,000.67% $ 148, % $ 250, % $ 500, % $ 770, % $ 1,000, %

BUDGETARY OVERVIEW OF BUDGET DEVELOPMENT