Marple Newtown School District

1. Marple Newtown School District Preliminary Budget Update March 10, 2015

2. Timeline • January 29, 2015 – Deadline - Preliminary Budget Available for Public inspection ( At least 110 days before primary election) • January 13, 2015 – Special Voting Meeting • Vote to Make Preliminary Budget available • Vote on Resolution not to exceed the Index • February 6, 2015 – Deadline to give Public notice of intent to Adopt Preliminary Budget - 10 days prior (January 30, 2015) • February 18, 2015 – Deadline to Vote on Prelim. Budget • Special Voting - February 10, 2015 Budget and Finance Meeting • 20 Days Public Inspection with 10 Days Published Notice • February 26, 2015 – Deadline to publish Public Notice of intent to file for referendum exceptions • March 5, 2015 – Deadline to Submit requests for Referendum exceptions to PDE.

3. Timeline • March 20, 2015 – Deadline to submit referendum question • April 28, 2015 Proposed Final Budget Adoption (Tentative) • April 29, 2015 – Proposed Final Budget made available for public inspection and notice of intent to adopt is published. • June 23, 2015 – Final Budget and Resolution Adoptions - (tentative) • The regular meeting on May 26, 2015 is too early to adopt final budget. Need at least 30 days after Preliminary is adopted. • The latest date for Proposed Final Budget adoption is May 29, 2015 and June 30, 2015 for Final Budget.

4. Act 1 • Index • 2015-2016 - 1.9% @$1,088,000 • Average of ECI and SAWW Rate • Resolution not to Exceed the Index • Exceptions • Grandfathered Debt Exception? – 2015-2016 • Special Education costs increases that exceed index; less increase in state funding? • 2015-2016 - $584,096 • PSERS payments if the increase is greater than index • New Salary Base Set - cannot increase • Lower of 2010-2011 or 2011-2012 • Exception $620,000 Estimated • Actual $622,110

5. Major Revenue highlights • Local Revenue • Assessment Growth • Preliminary - $362,000 • Proposed Final – $148,000 • 2013-2014 Assessed Value $3,297,119,741 – July 2013 • 2014-2015 Assessed Value $3,325,431,975 - November 2013 • 2014-2015 Assessed Value $3,334,586,359 - January 2014 • 2014-2015 Assessed Value $3,355,926,359 – November 2015 • 2015-2016 Assessed Value $3,363,501,823 - January 2015 • Interim, Transfer, Delinquent Taxes • Current Projections – Under Review • State Revenue • Retirement Subsidy $ 808,000 • Social Security Subsidy $ 30,000 • Total Additional Revenue - @$1,348,000

6. Major Cost Drivers • Budgetary Reserve – Policy 1% • Salaries - $642,000 • No Retirements – Final Budget • Benefits - $1,880,000 • Medical – 1st look - 0.26% • 2nd Look – (2.45%) • Prescription - $187,000 @ 13% • PSERS - $1,616,000 • Net $808,000 • Computer Leases $70,000 • Debt Service - $318,000

7. Preliminary Budget Summary Revenue $73,600,000 Expenses $75,700,000 Amt. To Balance $ 2,100,000 @3.67% Act 1 Index $ 1,088,106 Est. Exceptions $ 1,206,206 Est. Total $ 2,294,312 Shortfall $0.00

8. Next steps • Workshops and Presentations • Staffing Projections • Staff/Program needs • Attritional Savings - Retirements • Building/Department Budgets • Textbook Adoption • Updated Projections – Revenue and Expenses

9. Questions and Discussion