1. Board of Education Budget Discussion 2018-2019 January 2018
Joe Hochreiter
Enrique Catalan
This year we are including in our budget presentations pictures of our students’ art.

2. Historical Data

3. Historical Data: School Budgets
Budget vs. Expenses
E = Estimated
Budget vs. Taxes

4. Historical Data: Revenues
Revenues Over Time
By Source
Percent Change of Revenues
By Source

5. Historical Data: Fund Balance
Maximum allowed by State

6. Historical Data: Tax Cap

7. Historical Data: Assessed Valuation

8. Historical Data: Tax Rates

9.
Preliminary Budget

10. Revenues and
Fund Balance

11. Revenues Assumptions State aid and BOCES increase 2.5%
Other Income stays the same at ~ one million.
Sales Tax and Transfers increase slightly to $867,000 and $80,000, respectively
PILOTs increase $542,323 as follows:
Entergy’s new contract allows for the same increase as the NYS Tax CAP (2%E) - $473,008
RESCO PILOT increases $69,315 based on the 2011 agreement with City of Peekskill and Peekskill School District

12. Fund Balance Fund Balance decreases $2,246,588 or 60% as follows:
Fund balance restricted from debt service decreases from $403,118 to $256,530
Fund balance transfer to Repair Reserve was a one time transfer of $2,200,000 during the school year
Assigned fund balance increases from $1,200,000 to $1,300,000

13. Expenditures

14. Expenditures Assumptions
Maintain same number of programs and attempt, where possible, to reduce staff levels from attritions
Reduction in equipment budget district-wide
Increase of computer leases by $100k to account for loan to pay for new system under the Smart Bond
Increase of approximately $500K in TRS due to a higher employer contribution rate (11% vs. 9.8%)
Reduction in debt and interest expense of ~ $180k due to lower capital outlays

15. Expenditures Assumptions (Cont’d)
ERS employer contribution rate decreases 0.25% compared to However, total amount increases by 1.9% due to salary increases
Health insurance premium increases 3.75%
Increase of $270K in health insurance
661 employees and retirees are insured with the District
329 retirees get Medicare Part B
152 employees get buy-out

16. Preliminary Budget

17. Preliminary Budget
Preliminary Budget $78,920,998 to $80,314,454
Budget $79,649,118*
Budget Increase/(Decrease) $(728,120) to $665,336
Percent Increase % to 0.8%
Preliminary Tax Levy $42,612,565
Tax Levy $41,750,353
Percent Inc./(Dec.) %
* Includes $2.2m for Repair Reserve

18. CAP Information NYS CAP 2018-19 (E) 2.0% Hen Hud CAP 2018-19 (E) 2.1%
Tax Levy (E) $42.6 m
Hen Hud CAP $41,750,353
Hen Hud CAP Inc. $862,212
Hen Hud Percent Inc. 2.1%

19. Long Term Projections
* Budget includes $2.2m for Repair Reserve

20. Revenue Projections

21. Expense Projections 2017-18 2018-19 % Chg.
Administrative $ 4,618,141 $ 4,658, %
Program $62,981,887 $66,029, %
Capital* $12,023,090 $ 9,626, %
Total $79,623,118 $80,314, %
* Includes $2.2m for Repair Reserve in
Administrative ,
$4,658,238 6%
Program
$66,029,581
82%
Capital
$9,626,635,
12%
Let’s start with our expense projections.

22. Largest Increases/(Decreases) Expenditures
TOTAL SALARIES $1,218,066
TEACHER RETIREMENT SYTEM 492,753
HEALTH INSURANCE ,386
SPECIAL EDUCATION AND
RELATED SERVICES ,316
SOCIAL SECURITY ,182
DEBT AND INTEREST EXPENSE (181,133)

23. Thank you for your attention
Due to the economic situation that we are going through, we thought that it would be important to begin our budget season with an overview of the world markets.