School Year By Alison Offerman-Celentano and Sharon Hayes

Major Cost Drivers Percent Increase Salary$90,311,753$92,871, % Health Insurance $20,037,699$21,640, % Pensions$15,721,284$18,554, % Total$106,033,037$111,426, %

Bargaining Units Percent Increase Teachers$62,991,122$64,880, % Central Administration $1,751,573$1,804, % Building/District Administration $4,459,206$4,570, % Facilities$7,558,538$7,785, % Clerical$3,815,585$3,930, % Aides/Teaching Assistants $5,018,239$5,068, % Other$3,626,836$3,741, % Total$90,311,753$92,871, %

Pension Funds Percent Increase Teachers Retirement System $12,125,123$14,210, % Employee Retirement System $3,596,161$4,344, % Total$15,721,284$18,554, %

Percent Increase Property Tax Levy$129,856,718$133,752, % State Aid$35,508,328$36,520, % Appropriated Fund Balance $6,800,800$6,800, % Reserves$2,850,000$3,215, % Other$4,371, % Total$179,386,921$184,659, %

Reductions in Staff Custodial Staff5.0 FTE Clerical4.0 FTE Mental Health Professional 0.4 FTE Nurses2.0 FTE Reduction of Science Lab Aide Support 1.0 FTE Librarian1.0 FTE Teachers18.64 FTE1.0 FTE Elementary Lead Teacher 0.4 FTE Administrator1.0 FTE Total32.44 FTE2.0 FTE

 Dramatic Increase in Employee Benefit Costs - $5.7 million/18.64%  Debt Service Increase %  Decreased Enrollment (18.64 FTE reduction in Teaching Staff)  Decreased Revenue due to a drop in state aid  Tax Levy Cap Legislation  Elimination of Federal Jobs Restoration Aid

 The 2% tax cap for the school year was 4.73%  The district adopted a tax levy increase of 2.91% for the school year  Due to projected reductions in CPI for the school year, we are conservatively projecting that the 2% tax cap will be approximately 3%tax levy increase.

Expenses$184,780,281 Revenue$184,659,610 Shortfall($ 120,671)

 Due to decreased enrollment and efficiencies PositionFTECost Savings Teacher1.0$65,000 Librarian1.0$65,000 Total1.0$130,000