1. DELANCO BOARD OF EDUCATION BUDGET HEARING MARCH 24, 2011 7:30 P.M.

2. SCHOOL BUDGET 2011-12 TOTAL OPERATING BUDGET increased by $25,463 General Fund Tax levy Increased By $ 108,415 [State mandated cap of 2%] State Aid increase of $83,545

3. SURPLUS SHORTFALL SURPLUS BUDGETED IN 2009-10 = $706,824 SURPLUS BUDGETED IN 2010-11 = $561,728 SURPLUS BUDGETED IN 2011-12 = $318,382 SURPLUS SHORTFALL = $243,346 Surplus Taken By State During 2009-10 school year = $ 650,049

4. Operating Budget up $ 25K / Tax Levy up $108K How Does That Happen?? Surplus Shortfall = $ 243,346 State Aid Increase = - $ 83,545 Sub-total $159,801 Federal Ed Jobs Aid = - $ 76,290 Sub Total $ 83,511 Operating Budget Increase = + $ 25,463 Miscellaneous Revenue changes = - $ 559 Tax Levy increase = $108,415

5. INCREASES / DECREASES Increases Special Education Tuition Fuel costs Health Benefits costs Math textbooks [WSS] CST/OT/PT costs\ BCIT Tuition Decreases 1.5 Teaching positions Riverside tuition Teaching supplies frozen General Administration

6. SPECIAL EDUCATION TUITION Twenty-four students [K-12] are in out-of- district placements Tuitions range from $13,500 to $ 52,500 Schools include Public schools, Private Schools and Special Services School Total budgeted for 2011-12 = $875,986 Almost 10 % of total district budget

7. RATABLES ?? RATABLES ARE THE TOTAL ASSESSED VALUE OF DELANCO. IF RATABLES GO UP THE TAX RATE GOES DOWN. IF RATABLES GO DOWN THE TAX RATE GOES UP

8. RATABLES EXAMPLE District tax levy =approx $5,900,000 If ratables are 500,000,000 then tax rate is $ 1.18 per hundred of assessment On a $200,000 house tax would be $2360 Same budget with ratables of 492,000,000 the tax rate is $ 1.20 Same $200,000 house would pay $2400

9. Tax Impact of 2011-12 Budget Township ratables reduced by $7,720,907 Tax rate increase 4.6 cents per hundred Increase if ratables were stable= 2.8 cents/hundred Impact on home assessed at; $200,000 = $92.49/yr [$7.71/ mo] $239,500 = $110.76/yr [$9.23/mo] $250,000 = $115.61/yr [$9.63/mo]

10. BUDGET SUMMARY

12. WHAT HAPPENS NEXT ELECTION HELD ON Wednesday, APRIL 27 TH FROM 2:00 TO 9:00 P.M. IF BUDGET PASSES REDUCTIONS and INCREASES STAND IF BUDGET FAILS – Township Committee has option to make further reductions