lansing central school district budget update january 10, 2011
DESCRIPTION
Lansing Central School District Budget Update January 10, 2011. Dr. Stephen L. Grimm, Superintendent Ms. Mary June King, Business Administrator. TAX RATE HISTORY FYE 05-11. LEVY AND STATE AID FYE 05-11. BUDGET HISTORY. RESERVES FYE 07-11. FUTURE CONSIDERATIONS. PROJECTION CONSIDERATIONS. - PowerPoint PPT PresentationTRANSCRIPT
Lansing Central School DistrictBudget Update
January 10, 2011
Dr. Stephen L. Grimm, Superintendent Ms. Mary June King, Business Administrator
TAX RATE HISTORY FYE 05-11
LEVY AND STATE AID FYE 05-11
BUDGET HISTORY
2006-07 2007-08 % ∆ 2008-09 % ∆ 2009-10 % ∆ 2010-11 % ∆
TAX RATE
18.782 20.1136 7.1% 17.760 -11% 17.599 - 1% 18.484 5.0%
TAX LEVY
13,384,558 14,409,148 7.7% 15,188,370 5.4% 15,546,406 2.4% 15,994,067 2.9%
STATE AID
5,737,672 6,564,990 14.4% 7,021,266 7.0% 7,243,709 3.2% 6,510,023 -10%
TOTAL BDGT
21,366,871 22,564,863 5.6% 22,838,912 1.2% 23,944,315 4.8% 24,377,906 1.8%
RESERVES FYE 07-112006-07 2007-08 2008-09 2009-10 2010-11
TAX CERT 80,405 0 400,000 400,000 400,000
ERS 0 0 600,007 600,007 600,007
EBALR 250,000 200,000 320,000 320,000 320,000
CAPITAL RESERVE 550,000 550,000 1,022,671 1,022,671 0
UNEMPLOYMENT RESERVE 0 0 0 0 200,000
APPROPRIATED 0 0 0 368,000 1,371,000
UNAPPROPRIATED 158,705 18,745 933,356 953,000 975,000
TOTAL RESERVES 1,039,110 768,745 3,644,034 3,685,678 3,866,007
FUTURE CONSIDERATIONS
PROJECTION CONSIDERATIONS• EARLY BUDGET PROJECTION = $25,168,051
- Calculated salaries, benefits, debt service, BOCES (est.), all other expenses held constant.
• EARLY GAP PROJECTION = $ 1,961,329– Revenues: State aid constant, loss of federal
stimulus $, taxable properties increase by 1%, AES PILOT decrease by $10 million
• LEVY: – Strategic plan holds combined levy to CPI + 1%
• = max levy increase of 2.1%– Current projection holds levy constant
Projected Budget/Revenue 2011-2012 Gap: January, 2011Projected
FYE12$25,168,051
790,145
Budget 2010-2011
$24,377,906 $ 1,961,329
1,171,184
Revenue for 2011-2012
$23,206,722
LEVY SHARE CHANGES
2010-2011
1.40% 15.22%
84.70%
LEVY SHARE
PILOTS
AES
HOMES
2011-2012
1.40%13.99%
85.19%
LEVY SHARE
PILOTS
AES
HOMES
STATE AID 09/10 through 11/12
EXPECTED NYS AID
w/o BLDG(1)
NYS AID w/
REDUCTION(2)
FEDERAL STIMULUSinc. ARRA+
(3)
SUM =[TOT AID]
(2) + (3)
REDUCTION AS % OF LEVY
IN THAT FY
ARRA AS % OF
LEVY IN THAT FY
‘09-10 $ 6,171,539 5,157,771 1,194,473 6,342,245 6.4% 6.4%
‘10-11 $ 6,590,225 5,247,605 455,847 5,703,452 8.5% 2.9%
‘11-12 $ 6,635,090 5,292,464 0 5,292,464 8.5% 0%
FEDERAL AID
• STIMULUS FUNDING CLIFF, 2011-2012– Revenue loss = $ 603,812
• POLITICAL CLIMATE– Current NCLB and IDEA salaries = $ 484,165
• EDUCATION JOBS FUND– Revenue = $ 381,542– Can be used in 2010-2011 or 2011-2012– Consider property tax cap (special aid fund)– Consider availability (see “Political Climate”)
PRELIMINARY BOCES BUDGET
• ..\..\Budget Documents 2011-2012\BOCES\BOCES-BUDGET.xls
• CAVEATS:– PRICES INCOMPLETE– CHANGES STILL BEING MADE
DEBT SERVICEBUS
PURCHASE BOCES ROOF PHASE I & REFUNDING ROOF EPC
2010-2011 $ 287,000 $ 33,500 $ 1,155,600 $ 0 $ 237,000
2011-2012 $ 240,000 $ 32,300 $ 1,494,300 $ 34,450 $ 437,800
STATE AID $ 240,000 $ 1,036,900 $ 35,000 $ 210,000(+$ 250,000 ges)
FISCAL RESOURCE PLANNING 11/12• ERS RESERVE OF $600,000:
– 2010-2011 INCREASE EST. 140,000• TAX CERT RESERVE OF $400,000:
– COULD USE SOME TO OFFSET AES REDUCTION – COULD ‘FREE’ SOME
• EDUCATION JOBS FUNDS– $351,000 CAN BE USED IN FYE11 OR FYE12
• UNAPPROPRIATED FUND BALANCE– Fully funded– Early Fund Balance projection = $400,000
FISCAL RESOURCE PLANNINGLONG-TERM
• UTILIZE ERS RESERVE TO OFFSET DRAMATIC RATE INCREASES
• MAINTAIN/UTILIZE TAX CERT RESERVE FOR APPROPRIATE TIME
• RE-ESTABLISH CAPITAL RESERVE FOR FUTURE PROJECTS
• APPROPRIATE MONIES AS ABLE TO OFFSET POSSIBLE TAX INCREASES
• OPERATE TO MAINTAIN FULL UNAPPR FUND BALANCE
• CREATE OTHER RESPONSIBLE RESERVES AS ABLE