1. Robert Dufour, Superintendent April 9, 2015

2.   General aid to education, now called Foundation Aid, is not impacted by changes in enrollment  Foundation Aid in 2013-14 was $3,325,927. It is projected to be $3,229,434, less the Gap Elimination Adjustment, in 2015-16  A tax levy increase of 1% increases overall tax revenue by about $95,000  Transportation aid is about 55% of our allowed transportation expenditures  Building aid offsets about 33% our debt service budget  We receive about $400,000 annually in BOCES aid Interesting Revenue Facts

3.   “Fund Balance” has three major subsets  Restricted Fund Balances  These are cash reserves designated for specific legally approved purposes. Eldred currently has $1,578,349 in reserves.  Assigned or Appropriated Fund Balances  These are funds designated for use in the next budget year and include the amount designated to balance the budget. Eldred designated $535,412 for 2014-15,  Unassigned Fund Balances  This is the amount available for emergencies during the current year. Eldred has $685,945 in this category. Interesting Fund Balance Facts

4.   At $5.46 million, our estimated state education aid is about $90,000 more that actual state aid received in 2014- 15  Eldred’s calculated tax levy cap, including exclusions, is 2.88%, or a tax levy increase of $276,374  The PILOT payment from Millennium Pipeline increases in this budget to $98,000, up from $45,000 in prior years  An appropriation of fund balance in the amount of $600,000 (up from $535,412 in 2014-15) is necessary to balance this budget Estimated Revenue Summary

5.   Expands universal Pre-K to two full day classes  Maintains current staffing and programs for students  Includes funding to support the school lunch program  Includes funding to replace the driver education vehicle, which has been declared unfit for continued service  Includes funding increases for technology updates  Funds planned maintenance on projects considered health and safety priorities  Funds a replacement maintenance/plow truck  Includes funds to purchase used school buses to replace vehicles that have reached the end of their useful life Budget Initiatives

6.   Reduces utilization of certain BOCES  Includes a reduction for the BOCES administrative budget allocation  Reduces appropriations for petroleum products  Reduces employer contribution rates for employee retirement systems  Reduces many appropriation budgets to be more in line with historic actual expenditure levels Areas of Cost Containment or Savings

7.   Proposes a budget increase of $137,380, an increase of.83% over the 2014-15 amended budget  Includes an increase of $75,000 in state aid to education, based upon current state aid runs  Includes a proposed tax levy increase of $276,374, or 2.88% which does not exceed the calculated tax levy limit, including exclusions  Anticipates using about $600, 000 of fund balance, but does not propose reducing current dedicated reserve amounts Budget Summary

8.   Questions/comments?? Proposed Budget Review