2. Newark CSD Board of Education February 15, 2017
Budget Discussion

3. Agenda: Unknowns Tax Cap Local Revenue State Aid – Governor’s Proposal
Questions

4. Unknowns:
BOCES Costs
Workers Compensation costs

5. 2% Tax Cap
Misconception: The June 2011 law limits the amount that a school district can raise it’s tax levy in any year to 2%. Fact: -The growth in the property tax levy is capped at 2%. -Voter approval if at or below tax cap is 50% +1 -Voter approval if above the tax cap is a supermajority (60%)

6. 2% Tax Cap Prior School-Year Tax Levy Tax Base Growth Factor
PILOTS received in prior school year
Tax levy to pay for some court orders/judgments
Tax levy to pay for local capital costs
Allowable levy growth factor
Pilots for the school year
Available Carry-over from
= Tax Levy Limit before Exclusions

7. 2% Tax Cap Prior School Tax Levy: ---------------------- $12,567,974
X Tax Base Growth Factor:
+ Pilots Received Prior School Year: $51,000
- Court Orders/judgments: $0
- Local Capital Costs: $0
X Growth Factor (2%):
- Pilots for : $50,000
+ Available Carry-over from : $0
= Tax Levy Limit before Exclusions: $12,794,150 `

8. 2% Tax Cap Exclusions Court Orders/Judgments: $0 Capital Tax Levy: $0
Pension Exclusions:
ERS: $ %
TRS: $0 9.8%
Total Exclusions: $0

9. What does it mean? = 1.8% Tax Levy Limit: $12,567,974
Total Exclusions: $0______
Tax Levy Limit plus Exclusions: $12,567,974
Percent Increase: = ($12,567,974-$12,794,149) $12,567,974
= 1.8%

10. Tax Levy History
: $11,712, : $11,712,882 Cap: $12,002, : $11,947,139 Cap: $12,500, : $12,186,083 Cap: $12,335, : $12,429,805 Cap: $12,541, : $12,567,974 Cap: $12,567, : $12,567,974* Cap: $12,794, % ($855,092) increase in the tax levy from 2011to 2017

11. Anticipated Local Revenue
Pilots $50,000
Sales Tax $800,000
Rental of Real Property $390,000
Penalties $24,000
Interest $15,000
Admissions $17,000
BOCES Transportation $34,000
Health Services $6,500
Other $200,700
Totals $1.537,200

12. Governor’s Proposal 2016-17 2017-18 Foundation $19,822,453 $20,187,057
Foundation $19,822,453 $20,187,057
BOCES & Special Services $2,252,283 $1,510,462
High Cost, Excess Cost $1,261,528 $1,488,395
Private Excess Cost $27,849 $28,226
Hardware & Technology $42,314 $41,817
Software, Library, Textbook $171,878 $169,266
Transportation $1,828,758 $1,953,050
Building $6,023,154 $6,020,769
Medicaid Reimbursement $150,000 $125,000
Community School Set Aside $137,556* $137,556
Totals $31,580, $31,661,598
*included in the Foundation Aid number in

13. What is next? State Aid Budget Finalization
Refining Program And Staffing
Use of Fund Balance/Reserve
Tax Levy

14. Questions