1 / 13

2012-2013 GAP ANALYSIS

2012-2013 GAP ANALYSIS. Mary June King Business Administrator. 2009-2010. 2010-2011. 2011-2012. Revenue Gap Issues. Diminishing State aid 2009-2010 = $ 746,653 (DRA) 2010-2011 = $1,342,620 (GEA) 2011-2012 = $1,534,652 (GEA)

bill
Download Presentation

2012-2013 GAP ANALYSIS

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. 2012-2013 GAP ANALYSIS Mary June King Business Administrator

  2. 2009-2010

  3. 2010-2011

  4. 2011-2012

  5. Revenue Gap Issues • Diminishing State aid 2009-2010 = $ 746,653 (DRA) 2010-2011 = $1,342,620 (GEA) 2011-2012 = $1,534,652 (GEA) 2012-2013 = $1,800,000 (???) • Loss of additional Federal aid 2009-2010 = $747,810 (ARRA) 2010-2011 = $455,857 (ARRA) 2011-2012 = $381,000 (EJF) 2012-2013 = $ (nothing yet proposed)

  6. Revenue Gap Issues… • Loss of assessed property value: AES Cayuga 2009-2010 = $160,000,000 2010-2011 = $130,000,000 2011-2012 = $112,500,000 2012-2013 = $ 110,000,000* *Negotiations are currently underway to further decrease this.

  7. Other Caveats • Appropriation of funds 2009-2010 = $ 368,000 2010-2011 = $1,371,000 2011-2012 = $1,942,000 • Reserves 2009-2010 = $3,938,000 2010-2011 = $5,088,750 2011-2012 = $5,750,212 (new language)

  8. Property Tax Cap Formula

  9. [(A * B) + C] * D – E = TAX LEVY LIMIT • TAX LEVY LIMIT + EXCLUSIONS = TAX LEVY LIMIT, ADJ. LCSD = $14,569,036 (4.4%)

  10. Projected Revenue Gap(variable Appropriated FB)

  11. Budget Projections Caveats • ERS/TRS anticipate large increases again • Health Insurance increase averages 7 – 8% • Projections allow some increases based on spending • Faculty Association contract open

  12. Budget Projection • Current budget: • $25,275,503 • Projected budget • $27,059,181 • 7.1% increase • 54% of total increase = Employee Benefits • 19% of total increase = EJF Funding Cliff

  13. Projected Budget/Revenue 2012-2013 Gap: OCTOBER /11

More Related