1. Presentation to the Mechanicville Board of Education March 21, 2019
Revenue Budget
Presentation to the Mechanicville Board of Education
March 21, 2019

2. Outline of Presentation
Draft Budget Goals
Overview of the major components of our revenue sources
Update on the Tax Levy Cap
Update on State Aid
Local Revenue Sources
Questions (throughout)
Budget Development Next Steps

3. Draft Budget Goals
1. Maintain and enhance high quality instruction and intervention program, faculty and staff
2. Continue to support and improve student social and emotional support systems
3. Establish a sustainable 3 to 5 year financial plan through collaborative, transparent budget development while staying within the Tax Levy Cap

4. Revenue Sources
The predominant sources of revenue for the District is the Tax Levy (49.1%) and NYS Aid (42.7%).
The remaining revenue comes from a variety of miscellaneous sources (1.6%) and savings (6.6%).
Savings is a combination of appropriated fund balance and reserves.
Other sources include: PILOTS, interest income, Medicaid reimbursement, use of facility fees and refunds from BOCES.

5. Revenue Sources

6. Historic Information on Tax Levy

7. Update on the 2019-20 Tax Levy Cap
Tax Levy Limit Calculation= +5.2%
Levy limit has been submitted to the Office of the State Comptroller as required
What rate will we present to public for the Budget Plan?
2% = $13,523,823
3% = $13,656,410
4% = $13,788,996
Cap Max 5.2% = $13,942,791

8. 2019-20 State Aid Projections
Actual
Gov Bud
Difference
Difference (%)
Foundation
$7,248,328
$7,322,516
$74,188
1.0%
BOCES
$755,396
$806,396
$51,000
6.8%
High Cost (SWD)
$270,236
$301,516
$31,280
11.6%
Private Excess Cost (SWD)
$424,469
$432,765
$8,296
2.0%
Hardware/Tech
$21,650
$21,360
-$290
-1.3%
Software, Library, Textbooks
$112,511
$111,482
-$1,029
-.9%
Transportation
$923,875
$991,716
$67,841
7.3%
Building
$1,481,392
$2,137,830
$656,438
44.4%
TOTAL
$11,237,857
$12,125,581
$887,724
7.8%

9. 2019-20 Local Revenue Projections
Estimated Revenue
PILOT’s
$185,000
Interest
$120,000
$100,000
Medicaid
$65,000
BOCES Refund
$117,000
$90,000
Interfund Transfers (Library Debt)
$103,575
$105,200
Miscellaneous
$15,000
$3,000
TOTAL LOCAL REVENUE
$605,575
$548,200

10. 2019-20 Projected Use of Savings
Appropriated Fund Balance and Reserves
Appropriated Fund Balance
*exact amount TBD
$1,783,000
$1,783,000*
Use of Reserves (Reserve Balance)
Reserve for Debt ($299,753)
Employee Benefit Accrued Liability ($225,172)
ERS Retirement Contribution ($185,070)
TOTAL SAVING USE

11. SUMMARY: Est. 4.0% budget to budget growth = expenditure of $28,093,958 * Assumption based upon contractual obligations/ health care costs/ debt payments *FINAL budget-to-budget increase to be determined with final revenue and expense determinations
Revenues Required
State Aid
$12,125,581
Taxes (Tax Levy Cap 3.2%)
$13,682,927
Other
$548,200
Savings
$1,737,250
TOTAL Revenue
$28,093,958

12. Three Year Projections. assumption: NYS aid at 3%
Three Year Projections * assumption: NYS aid at 3% * assumption: Budget to budget growth at 4.0% inclusive of contracts/health care/project debt * assumption: Tax cap at around 3.2% (1) TBD based upon final revenue and expense determinations
Expenditures
Current
Projected
(1)
Total Budget
$27,013,421
$28,093,958
$29,217,716
$30,386,425
$31,601,882
Revenues
State Aid
$11,548,186
$12,125,581
$12,489,348
$12,864,029
$13,249,950
Taxes
$13,258,650
$13,682,927
$14,120,780
$14,572,645
$15,038,970
Other
$423,585
$548,200
Savings Required
$1,783,000
$1,737,250
$2,059,388
$2,401,551
$2,764,762
Total Revenue

13. Questions from the Board of Education
Revenue Plan

14. Next Steps Budget Planning
March 21 Budget Goals
Revenues
April 4 Expenditures
April 18 Draft Budget
Adopt Budget
May 9 Budget Hearing
May 21 Budget VOTE