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Newark Central School District Board of Education March 19, 2014

Newark Central School District Board of Education March 19, 2014. Proposed Budget 2014-2015. Agenda:. Expense Summary Preliminary Revenues Summary Preliminary Revenue Source Governor’s Proposal Closing the Gap Administrative Breakage Current Reserves. Expense Summary.

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Newark Central School District Board of Education March 19, 2014

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  1. Newark Central School DistrictBoard of Education March 19, 2014 Proposed Budget 2014-2015

  2. Agenda: • Expense Summary • Preliminary Revenues Summary • Preliminary Revenue Source • Governor’s Proposal • Closing the Gap • Administrative Breakage • Current Reserves

  3. Expense Summary Known or approximate numbers: Health Insurance 11.53% TRS 17.53% ERS 20.1% Salaries Contracts being settled BOCES +$1.5 million Debt +$800,000

  4. Preliminary Revenue Summary 2013-14 2014-15 $ change % Local: $1,509,000 $1,473,000 -$36,000 -2.3% (Not tax levy) State Aid: $27,409,322 $28,074,637 $665,315 2.4% (0.7%) Fund Balance: $550,000 $550,000 $0 0% Reserves: $848,638$848,638$0 0% $30,316,622 $30,946,275 $629,315

  5. Governor’s Proposal 2013-142014-15 Foundation* $18,182,293 $18,182,293 BOCES & Special Services $1,557,326 $1,921,916 High Cost, Excess Cost $1,016,408 $1,155,809 Private Excess Cost $72,443 $66,234 Hardware & Technology $42,334 $42,484 Software, Library, Textbook $174,583 $172,820 Transportation $1,893,433 $1,517,826 Building $5,577,984 $5,825,352 Medicaid Reimbursement $250,000 $250,000 Gap Elimination Adjustment -($1,357,482)-($1,060,097) Totals $27,409,322 $28,074,637

  6. Closing the Gap • Budget Reductions (not personnel) • Tax levy Increase (limited to tax cap amt. - max increase of $395,540) • Retirement Breakage • Increase use of Reserves/Fund Balance

  7. Administrative Breakage • New Administrative Team = significant savings: • Superintendent, ASI, ASB, Directors of Pupil Services, Transportation, Athletics and Facilities: • + $112,800 in savings

  8. Current Reserves Reserve Available Unemployment $789,751 Liability $1,200,460 Tax Certiorari $490,306 $2,480,517

  9. Questions

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