1. Hammondsport Central School
Budget Information

2. 16-17 Budget goals and assumptions
In working towards long term fiscal stability, the District needs to reduce reliance on the use of fund balance and reserves as yearly revenue by at least 20%.
The Gap Elimination Adjustment will be completely eliminated and we will receive the full amount owed of $78,248 in
Our local property tax cap will be between a negative %.
The SAS Health Insurance Consortium will use its’ reserves to keep any rate increase to 5% or below.
The decreases in retirement system contribution levels will be offset by the salary increases in those categories allowing us to leave those budget items flat for

3. Budget Totals 2016-2017 Proposed $13,676,588 2009-2010 $12,072,349
$12,075,323
$11,989,571
$12,128,717
$12, 463,818
$13,088,566
$13,444,859
Proposed $13,676,588

4. State Revenue
$3,993,421
$3,854,148
$3,702,905
$3,755,328
$3,875,991
$4,154,075
$4,363,452 ($151,574 Building Aid)
$4,595,626 ($76,793 Building Aid)

5. THE THREE PART BUDGET
The ADMINISTRATIVE component provides for overall general support and management of the operations of the District and includes: Board of Education costs, Central and school administration, Business Operations, curriculum development, BOCES administrative expenses, and benefits for current and retired persons in this category.
The PROGRAM component provides for all expenditures related to the instructional program of the District including special education, support services, co-curricular and athletic programs, counseling and health services, pupil transportation, and benefits for current and retired persons in this category.
The CAPITAL component provides for all costs associated with maintaining facilities and grounds as well as building and equipment repairs, maintenance and custodial supplies and materials, utilities, debt service payments, and benefits for current and retired persons in this category.

6. Three Part Budget 2015-2016 2016-2017 Administrative: $1,268,655 9.44%
$ 1,369, %
Program: $9,964, %
$9,971, %
Capital: $2,211, %
$ 2,335, %
Total: $13,444, %
$13,676, %

7. Current Year Versus Proposed Expenditures by Category
Difference
Percent of Budget
Salaries
$5,656,728
$5,678,944
$22,216
41.52%
Contractual and Supplies
$3,018,944
$2,996,853
($22,091)
21.91%
Equipment
$104,800
$222,800
$118,000
1.63%
Benefits
$3,375,670
$3,623,660
$247,990
26.5%
Debt Service
$1,288,717
$1,154,331
($134,386)
8.44%
Total:
$13,444,859
$13,676,588
$231,729
100%

8. Current Year Versus Proposed by Type
Difference
Percent of Budget
Instruction
$6,737,334
$6,712,451
($24,883)
49.08%
Administration
$458,534
$457,548
($986)
3.35%
Central Services
$991,789
$1,015,807
$24,018
7.43%
Transportation
$592,815
$712,791
$119,976
5.21%
Debt Service
$1,288,717
$1,154,331
($134,386)
8.44%
Benefits
$3,375,670
$3,623,660
$247,990
26.5%
Total:
$13,444,859
$13,676,588
$231,729
100%

9. Proposed Expenditure Budget
Proposed budget of $13,676,588.
Budget Increase of $231,729 or 1.72%
Largest Budget Increases are in the areas of:
Benefits $247,990
Transportation Equipment $118,000
Two Largest Areas = $365,990 budget increase

10. Projected Revenue Total $5,096,452 $5,350,626 2015-2016 2016-2017
Projected State Aid
Inclusive of Building Aid: $4,363, $4,595,626
Reserves/Fund Balance: $615, $600,000
Other Revenue $118, $155,000
Total $5,096, $5,350,626

11. Budget revenue history

12. Projected Tax Levy of $8,325,962 or .27% decrease
Estimated Levy
Proposed Budget of $13,676,588
Projected Revenue of $5,350,626
Projected Tax Levy of $8,325,962 or .27% decrease

13. HCS tax cap calculation
Prior Year Tax Levy
8,348,407
Tax base growth factor X
8,396,828
Prior Year PILOT
+ 1,278
8,398,106
Prior year exemptions
-$502,038 prior year local share of capital
Adjusted Prior Year Levy
7,896,068
Allowable Growth Factor
X (2% Language from here)
7,905,543
Coming Year PILOT
- 1,355
7,904,188
Available Carryover
TAX LEVY LIMIT (Reported to Comptroller March 1 Annually)
Coming School Year Exemptions
+ $445,744 upcoming local share of capital
ALLOWABLE TAX LEVY LIMIT
$8,349,932 = % would only require 50% majority
Allowable Tax Levy Limit was $8,533,670

14. Tax Impact on A $100,000 Home (Town of Wayne, urbana, tyrone, or pulteney)
Actual
Projected
Assessed 100%
$100,000
STAR Reduction
$ 30,000
Net Taxable Value
$ 70,000
Tax Rate $ $
Total Tax
$705.60
$703.50
Difference
- $2.10

15. Projected Tax Rates Town Bath $22.39 $22.33 -$.06 <1% Pulteney
Projected
$ Change in Rate
Percent Of Tax Base
Bath
$22.39
$22.33
-$.06
<1%
Pulteney
$10.08
$10.05
-$.03
30%
Tyrone 4%
Urbana
33%
Wayne
Wheeler
$11.07
$11.04
-$03

16. How Will We Balance Our Budget This Year?
Use of Fund Balance
$335,000
Reserves
$265,000
Reduction of Staff
1 FTE
Elimination of Programs
NONE
Tax Levy Decrease
-.27%

17. 16-17 budget goals and assumptions
In working towards long term fiscal stability, the District needs to reduce reliance on the use of fund balance and reserves as yearly revenue by at least 20%.
Reduction of $15,000 or 2.4%, reduction from $615,000 to $600,000.
The Gap Elimination Adjustment will be completely eliminated and we will receive the full amount owed of $78,248 in
The GEA has been eliminated and we will receive $78,248.
Our local property tax cap will be between a negative %.
Original tax cap was approximately -1.8%. With the inclusion of the bus purchase, the tax cap increased to .27%.

18. 16-17 budget goals and assumptions
The SAS Health Insurance Consortium will use its’ reserves to keep any rate increase to 5% or below.
There was a 10% rate increase on Feb 1st followed by a 15% increase on July 1st. A total rate increase on all plans of 25% from to A plan assessment due June 30th is still a possibility.
The decreases in retirement system contribution levels will be offset by the salary increases in those categories allowing us to leave those budget items flat for
Funding levels for retirement system contributions have been left flat for

19. Capital outlay project 2016-2017
Repair exterior structure at leech field pump house.
Counter top replacement in some 7-12 classrooms.
Replacement of some of the small lockers remaining in the hallways.
Total cost of project cannot exceed $100,000. District receives $56,700 back in building aid the following year each year a project is completed.

20. Bus purchase
Due to the savings garnered through the refinancing of long term debt, as well as lower than anticipated interest rates on new borrowing, the District will be seeing a decrease in overall debt service payments in of $134,386.
The District has adopted a bus replacement program that will allow for the replacement of the entire fleet by 2024.
A District vote was planned for December 2016 for a replacement 77 passenger bus as a component of that plan.
The savings in debt service enables the District to build the purchase of the new school bus, which is replacing a 2009 bus in our fleet, into the general fund budget.
This will save the costs of financing the bus over time and maintains our current capital bus reserve for later use.

21. Foundation aid increases 2013-2016
2013- $8,669
2014- $24,636
2015- $10,815
2016- $28,651
2.5% yearly increase in all salaries: $141,973
5% increase in the cost of health insurance benefits: $110,710

22. Proposition No. 2 – Authorization to Transfer Liability Reserve Funds and to Fund Repair Reserve   Shall the following resolution be approved by the voters:

23. Proposition #3 Board of Education Candidate
One five year term will be available
Incumbent Dennis Carlson is running for an additional 5 year term on the Board.
One slot is available and is a five-year term.

24. VOTE Tuesday, May 17th, 2016 12 Noon to 8 PM **High School Gymnasium
**Paper ballots will be used

25. Thank you