1. FY19 Budget Update Berlin-Boylston Regional School District
April 3, 2018
Presented by:
Jeff Zanghi, Superintendent of Schools
Robert Conry, Director of Financial Services

2. FY19 Budget: Berlin-Boylston Regional School District

3. Summary of Changes FY19 Budget
Preliminary Budget – December $8,666,592
Line Item Changes: 03/20/2018 Budget Hearing ($76,034)
Line Item Changes: 04/03/2018 Budget Update ($33,078)
Revised Budget – April 3, $8,557,480
Variance to FY18 of $219,659, or 2.63%
(down from Preliminary Budget increase of 3.94%)

4. Summary of Changes – Line Items
Reduction of $13,078 in Instructional Materials due to the following:
defer replacement of World Languages ($12,078)
replace Math curriculum materials instead of Science curriculum materials ($1,000)
Math estimated at $27K, Science was $28K
Note: This change is not budget driven
Reduction of $20,000 in Technology hardware costs due to deferral of replacement of some teacher laptops

5. Summary of Changes – E&D
Increase usage of Excess and Deficiency funds by $40,000 from amount previously budgeted
Increase from $60,000 to $100,000

6. 5 Year Budget Trend

7. Budget Growth vs. 2.33% annual increases

8. Revenue Sources Beyond the General Fund

9. Berlin-Boylston Regional Budget Comparisons
Increase from FY18-FY19
General Funds: 2.6%
Overall/All Funds: 1.2%

10. Excess and Deficiency (E&D)
Recommend using the following amounts from E&D for FY19 Budget:
$100,000 as offset to Operating Budget
$14,598 as offset to Capital Assessment (required amortization of bond premium received with issuance of bonds in 2012)
Certified E&D Balance as of 6/30/2017 is $369,073

11. Assessment Calculation

12. Assessment Calculation (cont’d)

13. Assessment Calculation (cont’d)

14. Capital Items
Close-out of Tahanto Building Project, with final MSBA reimbursement received in December 2017
Bond required for remainder of net project cost ($3.25M)
Capital assessment based on 15 year level payment bond, estimated interest rate of 3.50%.
No other capital items

15. Long Term Debt Assessment

16. Assessment Summary by Town

17. 5 Year Budget Trend – by Revenue Source

18. Questions / Discussion