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EATONTOWN BOARD OF EDUCATION

EATONTOWN BOARD OF EDUCATION. 2007 – 2008 BUDGET PRESENTATION Monday, March 26, 2007. MISSION STATEMENT. Eatontown’s vision and mission is to develop a community of lifelong learners where children have healthy self-esteem, respect and compassion for others (Cont’d).

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EATONTOWN BOARD OF EDUCATION

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  1. EATONTOWN BOARD OF EDUCATION 2007 – 2008 BUDGET PRESENTATION Monday, March 26, 2007

  2. MISSION STATEMENT Eatontown’s vision and mission is to develop a community of lifelong learners where children have healthy self-esteem, respect and compassion for others (Cont’d)

  3. MISSION STATEMENT(continued) essential and technical knowledge, and the creative problem-solving skills needed to meet the challenges of successful citizen in an ever changing multi-cultural global society.

  4. Eatontown Board of Education 2007-2008 Timeline

  5. New Legislation Impacting 2007-2008 Budget Assembly Bill – 1 The Tax Levy Cap Law • Limits the increase in the tax levy to 4% • Automatic and Commissioner Approved tax levy adjustments • Allows for the creation of a Current Expense Emergency Reserve Account (cont’d)

  6. New Legislation Impacting 2007-2008 Budget Assembly Bill – 1 The Tax Levy Cap Law • Some loosening of surplus restrictions • Allows for no tax levy cap adjustment for non-recurring revenue for 2007-2008 • New rule changes for second ballot (above cap) questions

  7. Tax Levy Cap Calculation

  8. The 2007-2008 Budget Provides For: • Strong academic programs based on the State Core Curriculum Content Standards • Professional growth and development of the teaching staff • Hiring of additional personnel: one basic skills teacher, one van driver and van aide, four part-time office aides • Implementation of the following new curricula: 1. Language Arts Literacy 2. Visual & Performing Arts 3. Comprehensive Health & Physical Education

  9. The 2007-2008 Budget Provides(Continued) • Funding for the 2nd of a 4 year lease/purchase of 300 notebook computers • Programs to meet special and individual student needs • Purchase of a new 16 passenger/two wheelchair & lift handicapped van • Continuation of the 3 & 4 year-old Preschool Program • Building improvements and upkeep

  10. Major Factors Impacting Tax Levy • Personnel • Insurance Increases: • a) Medical • b) Property/Casualty • Energy • Capital Equipment

  11. General Fund Revenues

  12. General Fund State Aid • A 3% increase ($116,527) in general fund state aid • Additional Targeted At Risk Aid (TARA) in the amount of $143,500 will be provided to the district upon submission of an application/program implementation plan • This new additional aid, by state directive can not be utilized for tax relief in the 2007-2008 budget (Cont’d)

  13. General Fund State Aid

  14. General Fund Balance: What Is It? • In essence the Board’s Savings Account • Limited by law to the greater of $250,000 or 2% of the general fund budget • Fluctuates from year to year

  15. General Fund: Other Revenues and the Tax Levy • Investment Income: $112,120 • Tax Levy: $13,197,569 This is the amount residents vote upon April 17, 2007

  16. General Fund Revenue

  17. General Fund Appropriations

  18. Advertised Appropriations

  19. Advertised Appropriations Continued

  20. Advertised Appropriations Continued

  21. Breakdown of Employee Benefits

  22. Salaries and Benefits Salaries and Benefits represent 72.2% of the 2007-2008 Tentative Budget

  23. 2007 -2008 Proposed Capital Outlay Appropriations - Equipment

  24. How Are My Tax Dollars Spent? • Instructional & Instructional Support Programs Include: • Salaries Of our instructional personnel including teachers, nurses, aides, etc. This category also includes staff development, library books, textbooks. Teaching supplies, as well as tuition for our out-of district placements and K-8 regular ed students • Other Support includes: • School/Central Administration, operation and maintenance of school facilities, transportation costs, employee health benefits, and capital outlay Total General Fund Budget $18,605,985

  25. Budget Summary Comparison 2006-2007 vs. 2007-2008 *This would be the increase in the tax rate if there was no change in assessed valuation

  26. Tax Impact- Proposed 2007-2008 Budget

  27. Calculating Your Taxes

  28. Budget Accomplishments • Reasonable, Fiscally Responsible, while addressing the needs of all students • Maintains current educational and extra/co-curricular programs • Continues the implementation of new curriculum • Meets state mandates • Provides needed staff/development • Progress towards completing projects in the district’s Long Range Facilities Plan and 3 Year Comprehensive Maintenance Plan

  29. Annual School Election The Annual School Election will be held on Tuesday, April 17, 2007 between the hours of 3:00 pm and 9:00pm., prevailing time, as follows: * The polling locations for Districts 3,4,9, 7 & 8 have been changed.

  30. Please Continue To Support Our Children…Vote on April 17thEatontown School District

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