1 / 14

LAWRENCE TOWNSHIP PUBLIC SCHOOLS

LAWRENCE TOWNSHIP PUBLIC SCHOOLS. Developing a Budget through Our Strategic Plan. Fall 2010. Input & Decision Process. April. Final Decision. March. Input. Decision. Feb./Mar. Nov./Dec. Create Budget. Oct./Nov. Input. Input. Oct./Nov. The Economic Climate.

sorcha
Download Presentation

LAWRENCE TOWNSHIP PUBLIC SCHOOLS

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. LAWRENCE TOWNSHIPPUBLIC SCHOOLS Developing a Budget through Our Strategic Plan Fall 2010

  2. Input & Decision Process April Final Decision March Input Decision Feb./Mar. Nov./Dec. CreateBudget Oct./Nov. Input Input Oct./Nov.

  3. The Economic Climate • 17% increase in students eligible for free and reduced price lunch • Cost of living is 2008 to 2009 FLAT, 2009 to 2010 (TBD). • NJ unemployment rate at 9.2% in October 2010; 3.9% in October 2007. • Mercer County unemployment rate 7.4% in October 2010; 3.5% in October 2007. • 3% decrease in taxable property value in Lawrence Twp. = Loss of $1,800,000 in tax revenue at current school tax rate • .6% decrease in taxable property value in Lawrence Twp.=Loss of $345,000 in tax revenue at current school tax rate

  4. The Economic Climate: Loss of State Aid (General Fund & Debt Service) • General Fund • Unprecedented cuts in State Aid: $4,935,581 in 08/09 to $1,576,386 10/11. • Loss of 68% of State Aid • Loss of ($3,359,195) in 2010/2011 • Loss of ($1,488,000) in 2009/2010 • Loss of ($236,545) in 2008/2009 • Repayment of Debt Aid • $104,000 Direct Reduction in Aid • $107,281 “SDA Assessment”-This is to assist the state with payment on debt for grants they previously awarded to the district.

  5. Lawrence Excellence:It’s a F.A.C.T. • Fiscal Responsibility • Academic Excellence and Equity • Community Outreach • Technology (Future)

  6. Striking a balance. . . Public Vote

  7. What is Important to You? • Small Class Size • Range of Electives • Ensuring Success and Equity for all students • Access to up-to-date technology • Expanding World Language at the Elem level • Athletic Programs • Visual and Performing Arts • Music/Orchestra/Band • Upgrading LTPS Fields • Maintaining Facilities • Free Access - Facilities • Small School Concept • Other

  8. Preliminary results from parent meetings

  9. LTPS Challenges • Flat enrollment • Declining tax base (ratables) • Declining revenues (state aid) • Increasing costs (insurance) • Diversified clientele • Needs and Wants

  10. What makes Lawrence unique? • Smaller class sizes • Shorter busing distances • Small elementary schools • Full-day kindergarten • District programs • Extracurriculars • Facilities • LHS Academies

  11. Assumptions • Ratable base will decline by (-$15,000,000) • There will be a 2% cap on tax levy: • We will be below cap • We will bank any unused cap for future years • The First Draft budget shows a tax increase of: $.035 per $100 equal to $57 per avg. assessed home. • $.013 due to the loss in ratable base • $.014 due to General Operations • $.007 due to Repayment of Debt • State Aid-Flat in model. Anticipate Reductions

  12. Appropriations Comparison

  13. Revenue Comparison

  14. Questions

More Related