Newark Central School District Board of Education March 18, 2015 Proposed Budget

Agenda: Revenue Estimates Governor’s Proposal Expense Governor’s Proposal Closing the Gap Current Reserves

Revenue: Tax Cap Tax Cap: - Limit is 2.92% with rollover ($355,413) - 2% is $243,722 (0.56% of total budget) Tax Levy Information: - 2% increase $12,429,805 (26.97% or total) Local Revenue Total: - $13,844,370 (30.03 % of total) 2% is $243,722 (0.53% overall budget)

Revenue: Tax Cap Local Revenue: Non-Tax Levy - $1,501,000(3.26% of total) State and Federal Revenue: - $28,890,021(62.69% of total) Total Revenue: - $42,820,826(92.91% of total) 2% is $243,722 (0.53% overall budget)

Governor’s Proposal Foundation*$18,422,562$18,422,562 BOCES & Special Services$1,870,492$1,870,492 High Cost, Excess Cost$1,155,809$1,155,809 Private Excess Cost$66,234$66,234 Hardware & Technology$42,308$42,308 Software, Library, Textbook$172,280$172,280 Transportation$1,566,601$1,566,601 Building$6,001,715$6,001,715 Medicaid Reimbursement$150,000$150,000 Gap Elimination Adjustment-($557,805)-($557,805) Totals $28,890,196 $28,890,196

Expense Summary Budget Total: $46,087,144 TRS Rate: 13.26% ERS Rate: 18.2% Health Insurance: 8.7%

Grants Title I: No Child Left Behind -Salaries: $469,939 -Total: $480,828 Title IIA – Professional Development NCLB -Salaries: $125,624 -Total: $136,178 Pre-K -Salaries : $273,128 -Total: $305,968

Grants IDEA -Salaries: $0 -Total: $42,450 IDEA -Salaries: $475,109 -Total: $598,238

Closing the Gap Budget Reductions Tax levy Increase (limited to tax cap amt. - max increase of $355,413) Retirement Breakage Increase use of Reserves/Fund Balance

Current Reserves ReserveAvailable Workers Comp$ 406,028 Unemployment $ 781,903 Liability$1,086,261 Retirement Contribution$5,298,932 $7,573,124

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