2019-2020 fourth draft budget april 2, 2019 budget 2019-20/… · 2019-2020 fourth draft budget...
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2019-2020
Fourth Draft Budget
April 2, 2019
Evolution of the State Budget January 2019 April 2019 – Final Budget
NYS 2019-2020 Budget What is in it for Kings Park?
Net Foundation Aid increase of $82,260 (0.75%) from 2018-2019 allocation
$54,840 increase above the Governor’s Proposal in January
(Source: 1/15/19 & 3/30/19 State of New York Aid
Projections)
Tax Cap is now permanent, and still contains verbiage that connects it to inflation (CPI)
Ability to create a TRS Reserve
2019-2020 Fourth Draft Budget
2018-2019 Adopted Budget $92,168,700
2019-2020 Fourth Draft Budget $93,880,803
Budget to Budget Increase 1.86%
Revenue $93,880,803
Tax Levy Increase 2.47%
Current Budget Gap $0
We left off last time with a budget gap of $258,223.
Fourth Draft – What’s Changed?
Small amount of additional State Aid
Additional applied fund balance
Other expense code adjustments BOCES charges
Health insurance
Professional development
Unemployment
Foster tuition
Dental insurance
Life insurance
Revenue Projections
Revenue2018-2019
Budget
Projected
2019-2020
Budget
$
Difference
%
Difference
State Aid Excluding Building Aid 15,859,814 16,255,291 395,477 2.49%
Building Aid 3,053,297 3,312,569 259,272 8.49%
Total Aid 18,913,111 19,567,860 654,749 3.46%
Interest Earnings 75,000 110,000 35,000 46.67%
Rental Income - San Remo 243,860 251,175 7,315 3.00%
Compensated Absence Reserve 250,000 0 -250,000 N/A
Workers Compensation Reserve 250,000 0 -250,000 N/A
Debt Service Reserve 250,000 0 -250,000 N/A
Other Revenue 215,000 240,000 25,000 11.63%
Fund Balance 2,318,345 2,336,167 17,822 0.77%
Subtotal 22,515,316 22,505,202 -10,114 -0.04%
Tax Levy (2.47% increase) 69,653,384 71,375,601 1,722,217 2.47%
92,168,700 93,880,803 1,712,103 1.86%
2019-2020 Working Budget
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About $93.9M
Capped at 2.47%
EXPENDITURES REVENUES
Other Revenue
Allows for maintenance of current programs & services
3.46%Increase
Tax Levy Impact
Average
Taxpayer
Estimated tax rate: $147.61
The tax levy increase of 2.47% corresponds to the following tax increases per current assessed valuation:
This analysis assumes that assessed valuation for all property in Kings Park remains at the current level.
For questions on your tax bill, visit: http://www.smithtownny.gov/index.aspx?NID=180 or call Deanna Varricchio, Receiver of Taxes, at: (631) 360-7610.
Assessed
Valuation of
Home
2018-2019
School Taxes
Estimated
2019-2020
School
Taxes
Estimated
2019-2020 Tax
Increase per
Homeowner
Estimated
Monthly Tax
Increase per
Homeowner
2000 $2,881.02 2,952.18 71.16 5.93
3000 $4,321.53 4,428.27 106.74 8.90
4000 $5,762.04 5,904.36 142.32 11.86
5000 $7,202.55 7,380.45 177.90 14.83
6000 $8,643.05 8,856.54 213.49 17.79
7000 $10,083.56 10,332.63 249.07 20.76
8000 $11,524.07 11,808.72 284.65 23.72
9000 $12,964.58 13,284.81 320.23 26.69
10000 $14,405.09 14,760.90 355.81 29.65
11000 $15,845.60 16,236.99 391.39 32.62
12000 $17,286.11 17,713.07 426.96 35.58
Budget Overview This budget supports:
Maintaining the curriculum and programs that support academic excellence and the District’s Mission
Maintaining extracurricular activities, art, music, and sports
Technology enhancements – including year one of a multi-year Chromebook initiative
Mental Health – one additional psychologist
Class Size Reduction
Safety and Security – additional vestibules at PF, FS, and RJO, as well as a new security booth at KPHS
School bus purchases (4 small gas vans, 2 wheelchair accessible gas vans, and 1 large propane bus)
Proposed tax levy increase that is within tax cap limitations
May 21 PropositionsPROPOSITION 1
School District Budget
PROPOSITION 2
Creation of a new Capital Reserve Fund
The approval of this proposition and fund does NOT have any impact on the 2019-2020 budget or tax levy.
Proposition 2Creation of Capital Reserve Fund
The proposed capital reserve fund, known as the “Facilities Improvement Program 2019,” is needed to provide for facilities improvements that are not covered by the district’s multi-year facilities/bond plan.
Capital reserve funds require voter approval to create, and then voter approval to spend.
Much like a dedicated bank account, should the residents approve this fund, the district would transfer monies into this account as we are able.
Capital Reserve Would Support Potential construction, repair, and remodeling at the
bus garage
Potential propane fuel filling station
ADA and handicapped accessibility district-wide
Lighting, electrical, and switchbox upgrades
Roof repair and replacement
Gymnasium floor repair and replacement
Security enhancements
Paving and parking lot maintenance, repair, and construction
Transportation BuildingsJoseph C. Merola Transportation Center
Bus Garage (1981) Transportation Trailer (25+ years old)
Challenges:• Deteriorating trailer and facilities• Two mechanics bays insufficient• Storage space
Historical Budget DataSchool Year
Budget Amount
Percent Increase
Tax Levy Amount
Percent Increase
2010-2011 $77,759,349 2.11% $57,938,037 1.87%
2011-2012 $79,111,079 1.74% $59,629,828 2.92%
2012-2013 $80,832,817 2.18% $61,120,249 *2.50%
2013-2014 $82,874,728 2.53% $63,259,458 *3.50%
2014-2015 $83,562,788 0.83% $64,344,245 *1.71%
2015-2016 $84,729,293 1.40% $65,631,130 *2.00%
2016-2017 $86,655,918 2.27% $66,420,917 *1.20%
2017-2018 $88,547,572 2.18% $67,801,784 *2.08%
2018-2019 $92,162,200 4.08% $69,653,384 *2.73%
2019-2020 $93,880,803 1.86% $71,375,601 *2.47%
*Denotes years in which the tax cap law was in effectNOTE: 2019-2020 budget amount is not yet final/adopted
Important Dates
Budget Adoption Tuesday, April 16, 2019
Budget Hearing Tuesday, May 14, 2019
Budget Vote Tuesday, May 21, 2019
KINGS PARK SCHOOLS, A SMART INVESTMENT
KPCSD
Athletics
Heritage
Museum
Transportation
Aides & Security
WTRMS
Teachers
Special Education
kpHS
Clericals
Fort Salonga
PTA
TA’s & Nurses