Finance Committee Update

Oswego City School District 2012-13 Budget Plan

April 17, 2012

Budget Priorities

• Program Preservation with appropriate staffing

• Programming to support district/board goals

• Health and Safety of Students/Staff

• Efficiency of Operations

• Responsible Use of Appropriated Fund Balance

• Elementary Redistricting for 2012-13

Budget Priorities

• Big Picture School

• Universal Pre-K (Developmental Component)

• Elimination of ‘VOID’ Year for SpecED

• Implementation of RTTT• Common Core• Data Driven Instruction• APPR – Teacher and Principal

• Capital Improvements• EXCEL Expenditures/Referendum

Fiscal Navigation

• Contract Negotiations (CSEA, OCTA, COASA and AAP)

• Litigation

• Grievance(s)

• Tax Certiorari Challenges

• State Budget

• Foundation Aid

• Retirements

• 2% Tax Levy Cap vs Tax Levy Limit (aid loss)

Debt Service Payments 2005-2006 School Year through 2013-2014 School Year Principal Interest Total

2005-2006 952,409 682,300 1,634,7092006-2007 901,918 935,340 1,837,2582007-2008 1,082,612 711,163 1,793,7752008-2009 1,292,942 676,130 1,969,0722009-2010 1,518,516 991,640 2,510,1562010-2011 2,970,067 1,581,741 4,551,8082011-2012 3,030,580 2,950,645 5,981,2252012-2013 4,163,292 2,626,925 *6,790,2172013-2014 4,920,443 2,634,929 **7,555,372

20,832,779 13,790,813 34,623,592

* Includes Oswego BOCES Capital Project using a BAN on 55% of the Oswego City School District obligation.

** The School District will begin debt service payments on the fully bonded amount in 2013-2014. Using the 10 year Bond term, this will mean an approximate addition of $825,000 in debt service for 2013-2014. The School District will also receive BOCES aid to offset the borrowing costs at a rate of 63.09% on the project resulting in approximately $383,249 in aid for 2013-2014.

Appropriations Analysis

Budget Appropriations 2011-122012-13

ProposedIncrease/Decrease

GENERAL SUPPORT $9,082,212 $9,120,072 37,860

INSTRUCTION $33,247,317 $34,876,003 1,628,686

TRANSPORTATION $3,125,918 $2,993,632 (132,286)

EMPLOYEE BENEFITS $22,715,120 $22,724,132 9,012

DEBT SERVICE $6,494,181 $6,790,218 296,037

INTERFUND TRANSFERS $80,000 $100,000 $20,000

TOTAL $74,744,748 $76,604,057 1,859,309

Revenue Analysis

Revenue Source 2011-12 2012-13 Proposed

Appropriated Fund Balance $ 0 $ 1,600,000

Levy * $ 26,218,800 $ 25,810,661

State Aid (Gov.) $ 13,854,906 $ 15,101,894

Building Aid $ 6,816,317 $ 3,865,812

Other sources(incl. PILOTS) $ 27,854,725 $ 30,225,690Additional Revenues and/or Program Adjustments $ 0 $ 0

TOTAL $ 74,744,748 $ 76,604,057

* Actual is $54,055,460

Albany Budget ProposalsExecutive Final Difference

Foundation Aid $11,814,480 $12,117,849 $303,369

Full Day K -- -- --

BOCES $2,211,559 $1,959,537 $(252,022)

High Cost Excess $451,089 $420,506 $ (30,583)

Private Excess Cost $105,870 $100,808 $ (5,062)

Hardware & Tech $79,684 $70,101 $ (9,583)

Soft, Text, Library $335,553 $330,023 $ (5,530)

Transportation $3,034,013 $2,644,406 $ (389,607)

GEA $ (2,785,252) $ (2,541,336) $243,916

Building Aid $4,356,411 $3,865,812 $ (490,599)

Total General Fund Aid $19,603,407 $18,967,706 $ (635,701)

U Pre-K $392,181 $392,181 --

School Bus Purchase Proposition

• Replace 10 Buses $999,952 ($699,966 State Aid) – (8) 66 Passenger Buses ($105,551 each)– (1) 60 Passenger Bus w/up to 2 wheelchairs ($113,678) – (1) 30 Passenger Bus ($ 41,865)

• Aging Fleet• Minimal impact on debt service expenses• Maximizes safety• Minimizes maintenance and repair costs• No impact on 2012-2013 Budget

Tax Impact of Proposed LevyValue with Star *

Year Rate/1000 $ 100,000 $ 100,000

2009/10 $ 21.54 $ 2,154 $ 1,508

2010/11 $ 21.28 $ 2,128 $ 1,490

2011/12 $ 19.15 $ 1,915 $ 1,341

2012/13 $ 18.85 $ 1,885 $ 1,320

2012/13** $ 22.80 $ 2,280 $ 1,596

*Net $70,000 after $30,000 star exemption** Permissible based on NYS Tax Cap Formula (Tax Levy Limit)

NOTE: The Tax Rate is the result of a calculation involving 3 pieces of information. The only piece the School District controls is the tax levy. The other portions are the finalized assessments (set by the assessors on July 1st) and the equalization rates (set by the New York State Office of Real Property Services by August 15th). All else remaining equal, a lower tax levy will result in a lower tax rate.

Tax Rate & Levy History

Nine MileYear Tax Levy Included Levy Net Tax Levy

2005/06 $ 26,815,020 $ 0 $ 26,815,020

2006/07 $ 26,567,233 $ 0 $ 26,567,233

2007/08 $ 27,370,133 $ 0 $ 27,370,133

2008/09 $ 28,668,250 $ 0 $ 28,668,250

2009/10 $ 29,676,714 $ 0 $ 29,676,714

2010/11 $ 34,699,455 $ 6,131,628 $ 28,567,827

2011/12 $ 54,055,460 $27,836,660 $ 26,218,800

2012/13 ** $ 25,810,661 $ 0 $ 25,810,661

2012/13 * $ 30,884,916 $ 0 $ 30,884,916

** Proposed* Based on New York State Tax Cap Formula (Tax Levy Limit)

Budget Calendar

March 20, 2012 Finalize preliminary budget; Board of Education approval of propositionsMarch 27, 2012 Preliminary budget hearing (open to the public)March 27-31, 2012 District will publish first of four legal notices of budget vote and board electionApril 17, 2012 Budget Discussion - Adoption of budget by the Board of

EducationApril 20, 2012 Real Property Tax Report Card to SED (or within 24 hours

of adoption)April 20, 2012 Budget available for public review (Each School Building)May 8, 2012 Budget Hearing (Regular Meeting) Admin/Program/Capital

ComponentsMay 9, 2012 Mail School Budget Notice/District Newsletter (after Budget

Hearing)May 15, 2012 Budget Vote/Annual Meeting (Voting - 12:00 to 9:00 pm)

DISCUSSION