1. Lebanon Borough School 2013/2014 Budget Hearing March 21,2013 Heather Spitzer-Business Administrator Tim O’Brien-Superintendent

2. Budget Process 2013 Needs based Priorities set by administration and BOE Mandates and Costs Savings & Revenue Enrollment Year Over Year Comparisons State Aid Summary Tax Rate Calculations & Tax Impact

3. Needs & Goals Student Achievement Safety & Security Maintain community investment in Facilities Fiscal Responsibility

4. Unfunded Mandates PARCC (online testing) Teacher & Principal Evaluations State Curricular Changes with Mandated Timelines HIB Special Education Law and ADA compliance(504)- example: there is no funding for any 504 requirements.

5. Summary of 13-14 State Aid

6. Budget Highlights Facility Security System Upgrade HVAC Project Unfunded State Mandates Staff and Student Information System Teacher Evaluation System Curriculum & Programs Professional Development – New CCCS Instructional Hardware / Supporting Technology Benchmark Testing Preparation Art – increase in time 1 day per week Establish Gifted & Talented Program After School Activities

7. Tax Impact Total Net Tax Levy decrease of ($96,038) or (4.62%). Tax decrease of ($8.40) per $100,000 of assessed home value OR (1.01%).

8. How to Calculate the Tax Rate: 2012/2013 BUDGET 2013/2014 PROJECTION % CHANGE ANNUAL INCREASE (DECREASE) TAX LEVY based on Proposed Budget Tax Rate Tax Levy - General Fund$2,268,599 $0.83 $2,172,561 $0.79 4.62%($96,038) Tax Levy - Debt Service$0 $0.00 $0 $0.00 0%0 TOTAL LOCAL SCHOOL TAX LEVY:$2,268,599$2,172,561(4.62%)($96,038) LOCAL SCHOOL TAX:*$0.83$0.79($0.04) *per $100 of assessed valuation ASSESSED VALUATIONS$272,346,679$273,448,103(4.62%)($96,038) *Local School Tax Levy/Assessed Valuations Source: Preliminary Equalization Table, County of Hunterdon for the year 2012 -0.00032

9. What does that tax rate calculation mean to me? The tax rate is based on average assessed property values. The average assessed property values have increased $1,101,424 or 0.40% and the tax levy has decreased ($96,038) or (4.62%) resulting in a tax saving per household. Example: 2012 House Value (Tax Assessment): $100,000 2013 Home Value (Tax Assessment): $104,000 (.40% increase) 2012 Tax Rate of 0.83 per $100 of assessed Values 2013 Tax Rate of 0.79 per $100 of assessed Values So 2012 Property Tax Dollar Amount:$830.00 ($100K @ $0.83 rate) 2013 Property Tax Dollar Amount:$821.60 ($104,000 $0.79 rate) Actual Dollar Decrease: $8.40, or 1.01%

10. Questions & Thank You Additional questions may be sent to the Superintendent, Mr. O’Brien at: tobrien@lebanonboroughsch.org