Salaries2014-15 2015-16

$11,814,291 $12,076,529• Assumes contracted

increases

• Assumes 3% increases where not contracted

Benefits—Insurance2014-15 2015-16

$2,712,872 $2,946,060• Assumes a 8% increase

for health care costs…actual increase unknown at this point

• Includes: Health care, vision care, dental, and life (Assumes 5% increase)

Benefits--Retirement2014-15 2015-16

$ 2,503,156• Budgeted rate 21.18%

of payroll

$ 3,077,035• Unique Items:

• Budgeted rate 25.48% of payroll

Benefits--Other2014-15 2015-16

• $1,059,877 $1,076,097 Includes: Social Security,

Unemployment and Workers Compensation

Increase in retirees healthcare costs

Tuition Reimbursement EAP

Total Expenditures2014-15 2015-16

$27,983,847 $29,489,835• Overall increase of 5.4%

Revenues2014-15 2015-16 Local

• $15,950,713 State

• $10,668,849 Federal

• $465,924 Other Financing Source

• $211,000 Total

• $27,296,486

Local

• $16,473,191 State

• $11,233,204 Federal

• $485,000 Other Financing Source

• $211,000 Total

• $28,402,395

• Increase of 4.1%

Summary

The Preliminary Budget projects a deficit of $1,087,440. Assumes no additional retirements and no program or staffing cuts. Assumes 2.4% increase in local property taxes (Act 1 Adjusted Index), a 2% increase to BIS and a 2% increase to Special Education Subsidy from the state.