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Newark CSD Board of Education November 16, 2011

Newark CSD Board of Education November 16, 2011. 2012-13 Budget Discussion Preliminary Expense Recap Preliminary Revenue Look Ahead Reserves: Balances and Usage. Preliminary Expense Look Ahead Expense Category Increase/Decrease Salaries $221,801 Contractual $87,000

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Newark CSD Board of Education November 16, 2011

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  1. Newark CSDBoard of EducationNovember 16, 2011 2012-13 Budget Discussion Preliminary Expense Recap Preliminary Revenue Look Ahead Reserves: Balances and Usage

  2. Preliminary Expense Look Ahead Expense CategoryIncrease/Decrease Salaries $221,801 Contractual $87,000 Supplies $25,000 BOCES $138,403 ERS $97,125 TRS $328,209 FICA $18,025 Unemployment ?????????? Health Insurance $630,363 Total $1,545,926 Preliminary

  3. Revenue Look Ahead2011-12 vs. 2012-13

  4. Reserves: Balances and Usage RESERVE BALANCES: General Fund 6/30/20106/30/2011 Workers' Comp $510,000 $510,000 Unemployment $510,000 $660,000 Liability $1,225,000 $1,200,460 Insurance $2,006,500 $330,713 Tax Certiorari $490,306 $490,306 Retirement Cont. $331,500$3,036,961 Totals: $5,073,306$6,228,440

  5. Reserves: Balances and Usage GENERAL FUND RESERVE TOTAL: $6,228,440 Appropriated for Revenue 2011-12: Insurance (-$330,713) Workers’ Comp. (-$510,000) Unemployment (-$150,000) Bus Purchase Proposition: (-$476,738) Working Sub-Total $4,760,989

  6. Reserves: Balances and Usage Working Sub-Total$4,760,989 Debt Service Fund Total: $664,866 Working Sub-Total$5,425,855 Fiduciary Fund (Retiree Health Insurance, GASB 45 Set-aside) Total: $1,936,897 Total All Reserves and Available Surplus$7,362,752

  7. Closing the GAP • Budget Reductions (Including Staff Salary Breakage) • Tax Increase (limited to 2% increase from prior year, or approximately $225,000) • Reserves/Fund Balance

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