Lansing Central School DistrictBudget Update

December 9, 2013

Ms. Mary June King, Business Administrator

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2014-2015 BUDGET DRIVERS• TRS Increase:– 2013-2014 rate = .1625 per dollar paid– Estimate is TRS rate will be between .1725 and .1775

per dollar paid– Budget Estimate at .1775 per dollar paid– 9.23% increase in rate:

• 1,493,314 - 1,553,169 (if no increase in rate)• 1,493,314 - 1,696,538 (with rate increase to .1775)

$ 203,224 increase is 0.77% increase from 2013-14 budget

2014-2015 BUDGET DRIVERS• Health Insurance:– Average incr from 2000 = 8.08 %– Fund Balance challenges for

consortium in current operations (large claims)

– Consortium meeting in Jan 2014 will include discussion of rate increase for 2014-15 budget.

- Current estimate at 8.00% premium rate increase

$ 303,616 increase is 1.14% increase from 2013-2014 total budget amount

YEAR % INCREASE FROM PREV YR

2013-14 6.00 %

2012-13 4.00 %

2011-12 4.00 %

2010-11 5.50 %

2009-10 6.00 %

2008-09 3.00 %

2007-08 5.00 %

2014-2015 BUDGET DRIVERS

• Salaries:– Instructional Salaries increase:• $ 369,390 equals approximately 1.39% of 2013-14

budget amount

– Non-Instructional Salaries increase:• $ 166,055 equals approximately 0.63% of 2013-14

budget amount

2014-2015 BUDGET DRIVERS

• TRS, Health Insurance, Salaries increases amount to approximately a $1M budget increase*

• This is a 3.93% increase budget to budget.• Numbers that will help our planning:– TRS rate– Health insurance premium rate increase– BOCES budget finals

2014-2015 REVENUE DRIVERS

• Power Plant– Loss in value of $14M =

loss in tax revenue of approx $290,000

(at 2013-14 tax rate)– With no budget increase and no change in other

revenue sources, tax levy increase = 2.12%

• Other Revenue characters seem stable• 2013-2014 planned fund balance approp of

$1,265,000 now projecting at $820,000

DECISION TIMELINES FOR BOE

• Best raw budget projection available in late January/early February

• Best revenue projection available in late January/early February

• February: Will need BOE to indicate funding choices Appropriations

Levy/ Tax Rate Increase

(Budget amount)

DISCUSSION