PROPOSED BUDGET 201920 Overview and Revenue Projections Budget Preview February 5 2019 Inspiring Minds Empowering Achievements Building Community 1 Mission Statement The Garden City School District seeks to create an environment for learning which enables ID: 767032
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PROPOSED BUDGET 2019-20Overview and Revenue ProjectionsBudget PreviewFebruary 5, 2019Inspiring Minds, Empowering Achievements, Building Community 1
Mission StatementThe Garden City School District seeks to create an environment for learning which enables each student the opportunity to grow as an individual as well as a group member while striving to achieve the optimal level of academic, social and personal success.Students will thrive in a learning environment that is developmentally appropriate, individualized and challenging.Our goal and responsibility is to help each student develop an enthusiasm for learning, a respect for self and others, and the skills to become a creative independent thinker and problem solver.2
Garden City Public Schools A long tradition of high achievementExcellent “return on investment”A history of sound fiscal managementA commitment to continuous improvement A key element in making Garden City a “destination location” A major component of the local economy 3
AA1 bond ratingCollaborative relationship with Village governmentParticipation in county & regional consortia seeking to lower costsDistrict provides its own bus transportationGarden City Public Schools4
Budget DriversSalaries & benefits State & Federal mandates State standards and regulations Enrollment and class sizes School security and student safetyTax levy increase is determined by state legislation School Funding Formula5
District PrioritiesEnsure the continued tradition of excellence in teaching and learningProvide a safe learning environment Continue to enhance the use of technologyMaximize the use of personnel at all levelsAdhere to BOE class size guidelinesMaintain and expand course offeringsEnsure school buildings and facilities continue to be safe, clean, well-maintained, and energy efficient6
Proposed 2019-2020 Budget: $117,999,968 Budget to budget increase: $2,194,685 or 1.90% Projected tax levy increase (with STAR): 2.08% Maximum Allowable Tax Levy: 2.08 % 7
The Tax Levy Cap: How It Works and the Challenges It Presents8
Tax Levy CapNot exactly a “cap”Not really 2%Instead, requires 60% voter approval if the proposed tax levy is above the “tax levy limit”There is an 8-step formula for determining the “tax levy limit”9
How is the tax levy cap computed?
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CPI History:An Average Far Below 2% CPI Used for Tax Cap CalculationActual CPI2013-2014 2.00%2.10% 2014-2015 1.46%1.46% 2015-2016 1.62% 1.62% 2016-2017 0.12% 0.12% 2017-2018 1.26% 1.26% 2018-2019 2.00% 2.13% 2019-2020 2.00% 2.44% 12
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State AidLocal RevenuePILOTs (Payments in Lieu of Taxes)Appropriation from ReservesFund Balance AllocationProperty Taxes2019-20 Proposed BudgetSources of Revenue14
2019-20 REVENUE SOURCESCategory Budget 2018-19 Proposed 2019-20 Dollar Change State Aid 5,857,317 6,359,414 502,097 Local Revenue 1,723,800 1,387,700 (336,100) PILOT 3,986,853 3,831,999 (154,854) Appropriation from Reserves 920,000 920,000 - Fund Balance 2,500,000 2,590,000 90,000 Inter-fund Transfer 150,000 150,000 - Property Taxes including STAR 100,667,313 102,760,855 2,093,542 TOTAL 115,805,283 117,999,968 2,194,685 15
Summary of RevenuesRevenues from State Sources Actual 2017-18 Budget 2018-19 Proposed Budget 2019-20 Foundation & Other Operating Aids $ 3,084,433 2,553,462 2,592,667 Transportation 205,144 205,756 474,104 BOCES 449,606 438,900 466,100 Special Education 2,295,950 2,294,335 2,461,356 Textbook 257,990 262,703 261,727 Computer Software 72,489 72,973 73,217 Library Materials 30,243 29,189 30,243 TOTAL STATE AID 6,395,855 5,857,318 6,359,414 16
Summary of Revenues17
Revenue Category Percentages Proposed Budget 2019-20 % of Overall Budget State Aid 6,359,414 5.39 Local Revenue 1,387,700 1.18 PILOT 3,831,999 3.25 Use of Reserves 920,000 0.78 Fund Balance 2,590,000 2.19 Inter-fund Revenue 150,000 0.12 Property Taxes including STAR 102,760,855 87.09 TOTAL 117,999,968 100.00% 18
2019-20 Proposed Budget: Sources of Revenue19
Building Our BudgetRoll over existing budget to new yearMaintain all programs/services at current levelsIdentify changes in population/enrollmentInclude all mandated increasesAdd any new mandatesReview existing programs for efficienciesExplore new program service options to benefit studentsStep I 20
Building Our BudgetStep IIRevenue DeterminationState, Federal, Local, otherCalculate Tax Levy LimitFigure gap between allowable Tax Levy Limit and initial expenditure budgetReduce controllable costsMaximize available reservesRecalculate the gap Review options for eliminating the gap Focus on non-program changesPropose budget that functions within the Cap 21
Budget CalendarBudget Work SessionsDateOverview of the Proposed Budget and RevenuesFebruary 5, 2019All Non-Instructional/Administrative/Capital Components February 12, 2019 Instructional Components – Part IMarch 6, 2019 Instructional Component – Part IIMarch 12, 2019 Adoption of District Budget April 16, 2019 Budget Hearing May 14, 2019 Budget Vote and Election May 21, 2019 22
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