2. Newark CSD Board of Education February 14, 2018
Budget Discussion

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

4. Unknowns:
BOCES Costs
Staffing decisions
Contract negotiations

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: $50,000
- Court Orders/judgments: $0
- Local Capital Costs: $0
X Growth Factor (Cap at 2%):
- Pilots for : $50,000
+ Available Carry-over* from : $191,912
= Tax Levy Limit before Exclusions: $13,091,725 `

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

9. What does it mean? = 4.2% Tax Levy Limit: $13,091,725
Total Exclusions: $0______
Tax Levy Limit plus Exclusions: $13,091,725
Percent Increase: = ($13,091,725-$12,567,974) $12,567,974
= 4.2%

10. Anticipated Local Revenue
Pilots $50,000
Sales Tax $800,000
Rental of Real Property $390,000
Penalties $24,000
Interest $15,000
Admissions $18,000
BOCES Transportation $30,000
Health Services $8,000
Other $237,000
Totals $1.572,000

11. Governor’s Proposal 2017-18 2018-19 Foundation $20,187,057 $20,753,118
Foundation $20,187,057 $20,753,118
Universal Pre-Kindergarten $305,968 $305,968
BOCES & Special Services $1,510,462 $2,085,085
High Cost, Excess Cost $1,488,395 $1,530,149
Private Excess Cost $28,226 $49,578
Hardware & Technology $41,817 $42,712
Software, Library, Textbook $169,266 $171,746
Transportation $1,953,050 $1,956,113
Building $6,020,769 $2,640,624
Medicaid Reimbursement $125,000 $125,000
Community School Set Aside $137,556 $137,556
Totals $31,967, $29,797,649

12. State Aid Run
Actual
Foundation $20,484,241 $20,753,118
Universal Pre-Kindergarten $305,968 $305,968
BOCES & Special Services $2,613,243 $2,085,085
High Cost, Excess Cost $1,580,734 $1,530,149
Private Excess Cost $54,461 $49,578
Hardware & Technology $41,777 $42,712
Software, Library, Textbook $171,029 $171,746
Transportation $1,626,030 $1,956,113
Building $5,990,648 $2,640,624
Medicaid Reimbursement $125,000 $125,000
Community School Set Aside $137,556 $137,556
Totals $33,130, $29,797,649

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

14. Questions