2. Newark CSD Board of Education February 13, 2019
Budget Discussion

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

4. Unknowns:
BOCES Costs
New Debt Service Expenditures

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: ---------------------- $12,899,813
X Tax Base Growth Factor:
+ Pilots Received Prior School Year: $50,000
- Court Orders/judgments: $0
- Local Capital Costs: $0
X Growth Factor (2%):
- Pilots for : $50,000
+ Available Carry-over from : $191,912
= Tax Levy Limit before Exclusions: $13,432,300 `

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? = 4.13% Tax Levy Limit: $12,899,813
Total Exclusions: $0______
Tax Levy Limit plus Exclusions: $13,432,300
Percent Increase: = ($12,899,813-$13,432,300) $12,899,813
= 4.13%

10. Tax Levy History
: $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, : $12,899,813 Cap: $13,091, : $ Cap:$13,432, % ($1,186,931) increase in the tax levy from to

11. Anticipated Local Revenue
Pilots $50,000
Sales Tax $800,000
Rental of Real Property $390,000
Penalties $23,000
Interest $16,000
Admissions $17,000
BOCES Transportation $16,000
Health Services $12,000
Other $242,400
Totals $1.566,400

12. Governor’s Proposal 2018-19 2019-20 Foundation $20,753,118 $21,286,071
Foundation $20,753,118 $21,286,071
BOCES & Special Services $2,085,085 $2,532,441
High Cost, Excess Cost $1,530,149 $1,522,372
Private Excess Cost $49,578 $144,693
Hardware & Technology $42,712 $43,501
Software, Library, Textbook $171,746 $171,562
Transportation $1,956,113 $2,115,154
Building $2,640,624 $4,658,096
Medicaid Reimbursement $125,000 $150,000
Community School Set Aside $137,556 $137,556
Totals $29,491, $32,761,446

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

14. Questions