William Floyd School District William Floyd School District 2013 – 2014 2013 – 2014

Budget Proposal Budget Proposal

2013 – 2014 Budget Challenges2013 – 2014 Budget Challenges•Maintain current instructional, athletics or co-curricular programs Maintain current instructional, athletics or co-curricular programs & educational opportunities for our students & educational opportunities for our students

• Maintain the “2% tax levy cap law” – without mandated relief and Maintain the “2% tax levy cap law” – without mandated relief and the uncertainty of State Aid (current Aid @ 50 %) the uncertainty of State Aid (current Aid @ 50 %)

•Fiscally responsible use of reserves if necessary to meet our Fiscally responsible use of reserves if necessary to meet our budget goals without negatively impacting our long term fiscal budget goals without negatively impacting our long term fiscal health health

• Maintain continual implementation of Career and Technical Maintain continual implementation of Career and Technical Education Academies (Hospitality, Cosmetology & Building Trades) Education Academies (Hospitality, Cosmetology & Building Trades)

•Maintain and improve efficiency in providing educational services Maintain and improve efficiency in providing educational services

2013 – 2014 Proposed Budget 2013 – 2014 Proposed Budget 2012 – 20132012 – 2013

Approved Budget Approved Budget $ 215, 783, 082 $ 215, 783, 082

2013 – 2014 2013 – 2014 Proposed Budget Proposed Budget $ 223, 634, 273 $ 223, 634, 273

$$$ Change $$$ Change $7, 851, 191$7, 851, 191

% Change % Change 3.64% Increase 3.64% Increase

2013 – 2014 Budget Gap 2013 – 2014 Budget Gap Adopted Budget Adopted Budget

2012 – 20132012 – 2013Proposed Budget Proposed Budget

2013 – 2014 2013 – 2014

BUDGETBUDGET $215, 783, 082 $223, 634, 273

TAX LEVY TAX LEVY $91, 769, 995 $93, 605, 395ESTIMATED ESTIMATED STATE AIDSTATE AID $107, 869, 553 $111, 029, 750

OTHER REVENUE OTHER REVENUE SOURCES SOURCES $16, 143, 534 $16, 994, 000

ESTIMATED BUDGET GAP:ESTIMATED BUDGET GAP: $2, 005, 128 $2, 005, 128

How can we can closeHow can we can closethe Proposed Budget Gap of the Proposed Budget Gap of

$2, 005, 128 $2, 005, 128 Increase State AidIncrease State Aid

Raise Tax Levy Above 2%Raise Tax Levy Above 2%

Budget ReductionsBudget Reductions

Increase Use of ReservesIncrease Use of Reserves

Increase applied Fund BalanceIncrease applied Fund Balance

Funding the Budget 2009 – 2014 Funding the Budget 2009 – 2014 2009-102009-10 2010-112010-11 2011-122011-12 2012-132012-13 2013-142013-14

STATE AIDSTATE AID $111, 484, 784$111, 484, 784 $104, 500, 000$104, 500, 000 $106, 818, 339 $106, 818, 339 $107, 869, 553$107, 869, 553 (proposed)(proposed)$111, 029, 751 $111, 029, 751

TAX LEVYTAX LEVY $74, 026, 090$74, 026, 090 $80, 121, 159$80, 121, 159 $88, 990, 091 $88, 990, 091 $90, 769, 693 $90, 769, 693 (2% Tax Cap) (2% Tax Cap) $ 93, 605, 395 $ 93, 605, 395

Applied Fund Applied Fund BalanceBalance $9, 552, 692 $9, 552, 692 $12, 210, 441 $12, 210, 441 $12, 256, 028 $12, 256, 028 $16, 994, 000$16, 994, 000 ??????

Use of Use of Reserves Reserves $1, 152, 715 $1, 152, 715 $710, 000$710, 000 $1, 175, 000 $1, 175, 000 $2, 730, 000 $2, 730, 000 ??????

TOTAL TOTAL BUDGETBUDGET $194, 666, 853 $194, 666, 853 $200, 029, 600 $200, 029, 600 $208, 134, 194 $208, 134, 194 $215, 783, 082 $215, 783, 082 $223, 634, 273 $223, 634, 273

$ Change$ Change $5, 362, 747 $5, 362, 747 $8,104, 594 $8,104, 594 $7, 648, 888 $7, 648, 888 $7, 851, 191$7, 851, 191

% Change % Change 2.75% 2.75% 4.05% 4.05% 3.67% 3.67% 3.22% 3.22%

Project Assumptions: Zero (0) retirement Turnover Savings Project Assumptions: Zero (0) retirement Turnover Savings

How to close the Budget GapHow to close the Budget Gap$2, 005, 128$2, 005, 128

Increase State Aid? Increase State Aid? This cannot be counted on This cannot be counted on

Increasing the Tax Levy?Increasing the Tax Levy?YearYear Tax Levy IncreaseTax Levy Increase Percentage Passed By Percentage Passed By

20092009 3.73% 64.5%

20102010 2.75% 61.2%

20112011 12.47% 50.15%

20122012 2.0% 54.66%

20132013 4.2% ???

Proposed Reductions Proposed Reductions Full Day KindergartenFull Day Kindergarten

(12 Elem Teachers, 3 Encore)(12 Elem Teachers, 3 Encore) Elementary Assistant PrincipalElementary Assistant Principal Cosmetology TeacherCosmetology Teacher

Music ProgramMusic Program (Performance Secondary Level)(Performance Secondary Level) Naviance – College Initiative Naviance – College Initiative Cosmetology AssistantCosmetology Assistant

Speech TeacherSpeech Teacher Additional Backup for District Additional Backup for District wide Disaster Recovery wide Disaster Recovery Culinary TeacherCulinary Teacher

NJROTCNJROTC Urban Learning & Leadership Urban Learning & Leadership Center Initiative Center Initiative Culinary AssistantCulinary Assistant

ALL Sports Teams (Coaching ALL Sports Teams (Coaching Salaries Only)Salaries Only) CTE SuppliesCTE Supplies Building and Trades TeacherBuilding and Trades Teacher

Add to General Fund to Cover Add to General Fund to Cover GrantsGrants

Transportation late buses & Transportation late buses & SportsSports Add for Data Tech Team Add for Data Tech Team

Supplies (District Wide)Supplies (District Wide) Savings from no ChaperonesSavings from no Chaperones Equipment ReductionsEquipment Reductions

District Wide Attendance District Wide Attendance Management TeamManagement Team CTE Coordinator StipendsCTE Coordinator Stipends CTE Workbase Coordination CTE Workbase Coordination

Use of Reserves?Use of Reserves?Increase use of Fund Balance? Increase use of Fund Balance?

Fund BalanceFund BalanceEOY 2012EOY 2012

Reserve Balance Reserve Balance EOY 2012EOY 2012

$40, 056, 023 $40, 056, 023 $710, 000$710, 000

Recommendation: Recommendation:

Increase use of Fund BalanceIncrease use of Fund Balance$18, 999, 128 $18, 999, 128

Key Budget Facts 2013 – 2014

Amount Amount $223, 634, 273$223, 634, 273

Increase from previous yearIncrease from previous year $7, 851, 191 $7, 851, 191

Estimated Tax IncreaseEstimated Tax Increase 2.0% 2.0%

Estimated Tax RateEstimated Tax RatePer $100 of asset value Per $100 of asset value $262.89 $262.89

Yearly IncreaseYearly Increase $102.84$102.84

Daily Increase Daily Increase $ 0.28 $ 0.28

Questions? Questions?