VALHALLA UFSD2019-20

PROPOSED BUDGET

May 7, 2019

1515

1511

15191557

1543

1536

1529

1522

1510

1487

1468

1425

1000

1100

1200

1300

1400

1500

1600

1700

1800

1900

2000

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Enrollment Trends

2018-2019 Classes Size 2019- 2020 Classes Size

K 96 5 19.2 100 5 20

1 90 5 18 96 5 19.2

2 105 5 21 90 5 18

K-2 UG 6 6

3 106 5 21.2 105 5 21

4 94 5 18.8 106 5 21.2

5 109 5 21.8 94 5 18.8

3-5 UG 9 9

30 30

6 111 109

7 106 111

8 109 106

9 106 109

10 117 106

11 107 117

12 124 107

Enrollment Projection

Enrollment Projection

School 2018-2019 2019-2020 Change % Change

VRES 297 292 -5 -1.68%

KES 318 314 -4 -1.25%

VMS 326 326 0 0

VHS 454 439 -15 -3.30%

District 1395 1371 -24 -1.72%

• Professional Capital, Strategic Planning and Continuous Improvement

• Accelerate Learning and Improve Student Performance

• Maintain Facilities and Ensure School Safety

• Community Engagement, Communication and Public Information

• Technology Integration

• Fiscal Stability, Sustainability and Efficiency

VALHALLA UNION FREE SCHOOL DISTRICT

2017-19 PRIORITIES

Program Considerations

2018-19 / 2019-20Academics

• Curriculum Planning• Learning Standards• Resources

• Assessment

• Pilot and Program Evaluation

Technology

• Instructional• Classroom• Lab

• Assessment

• Management

• Communication

• Technology Planning – Infrastructure & Management

2019-20

Preliminary Budget Considerations

� Expenditures:

• Contract Salaries

• BOCES services: (Estimated)

For RIC Services–recommended increase of 1.5% as an average

For Special Ed-recommended increase of 2.0% as an average

For Career Tech-recommended increase of 1.7% as an average)

• ERS – 14.6% on new salaries (down from 14.9%)

• TRS – 8.5- 9.5% on new salaries (down from 10.5- 11.5%)

• Health insurance average rates 0.7%

• Transportation 2%

• Utilities - Electricity 5.5%

2019-20

Preliminary Budget Considerations

� Revenues:

• NYS Governor’s Budget Proposal

• Federal Grant Monies

• NYS Foundation Aid

• Tax Levy Limit – CPI

• Tax Certioraris and PILOTS

Estimated Tax Levy Limit CalculationPrior year tax levy 42,982,780

Tax base growth factor x 1.0011

43,030,061

Prior year PILOT +

43,030,061

Prior year exemptions (capital levy, court orders) - 1,703,734

Adjusted Prior Year Levy 41,326,327

Allowable Growth Factor (lesser of CPI or 2%) (Same

as Contingent CPI) x 1.0200

42,152,854

PILOTs for coming year - 670,620

41,482,234

Available Carryover -

TAX LEVY LIMIT 41,482,234

Coming School Year Exemptions (Debt) + 2,338,552

Coming School Year Exemptions (Pension TRS) -

Maximum Allowable Limit 43,820,786

Difference in dollars 838,006

Percent increase 1.95%

2019-20

Preliminary Budget Considerations

�Changes in the Tax Levy Limit Formula

• Tax Base Growth 1.0011 down from

1.0034

• Consumer Price Index of 2.00%

• Tax Cap calculation of 1.95%

VALHALLA UNION FREE SCHOOL DISTRICT STATE AID

Aid Category

2018-19

State Aid

Adopted Budget

2019-20

Governor's State

Aid Projection

2019-20

State Aid

Projection

General Purpose Aids $3,109,311 $3,201,013 $3,222,358

Foundation Aid 2,302,618 2,394,320 2,415,665High Tax Aid 806,693 806,693 806,693Expense-Based Aids $1,784,024 $2,210,991 $1,900,181

Building Aid 441,875 688,764 405,844Transportation Aid (including summer) 515,429 597,880 494,990BOCES Aid 630,817 629,866 704,866Private Excess Cost Aid 123,346 215,470 215,470Public Excess Cost High Cost Aid 72,557 79,011 79,011Supplemental Public Excess Cost Aid -Other Aids $122,435 $124,753 $124,753

Computer Software AidLibrary Material AidTextbook Aid 119,297 120,346 120,346Hardware and Technology Aid 3,138 4,407 4,407TOTAL AID $5,015,770 $5,536,757 $5,247,292

2019-20 Proposed Budget

Budget Increase

Including the BAN 12.16%Excluding the BAN 3.30%

Tax Levy Increase 1.73%Proposed Tax Levy $43,724,441

$96,345 Below Maximum Allowable Limit

A (BAN) Bond Anticipation Note is a short-term interest-bearing security issued in advance of a larger, future bond issue. Bond anticipation notes are smaller short-term bonds that are issued by corporations and governments, such as local municipalities, wishing to generate funds for upcoming projects.

2016 Capital Improvement Funding

The District issued a BAN in the amount of:

$4,415,409

This amount will appear in the budget as an expense with an offsetting revenue:

“Proceeds from Bond Anticipation Note” resulting in a NET ZERO impact on the actual budget but inflates the budget to budget percent comparison

2016 Capital Improvement Funding

EXPENSES: 2018-19 BUDGET

2019-20 PROPOSED BUDGET

BOND ANTICIPATION NOTE PRINCIPAL 4,415,409

REVENUES:2018-19 BUDGET

2019-20 PROPOSED BUDGET

Proceeds from Bond Anticipation Note 4,415,409

NEW DEBT

2019-2020 PROPOSED REVENUES

WHERE THE MONEY COMES FROM

State Aid 9.4%

Property Tax Levy 78.2%

Appropriated Fund Balance 1.2%

Other Receipts 11.2%

State Aid 9.4%

Property Tax Levy 78.2%

Appropriated FundBalance 1.2%

Other Receipts 11.2%

VALHALLA UFSD

Revenues2018-19 BUDGET

2019-20 PROPOSED BUDGET

Difference

State Aid 5,015,770 5,247,292 231,522 Property Tax Levy 42,982,780 43,724,441 741,661 Appropriated Fund Balance 650,000 650,000 -Other Receipts - - -Other Payments in lieu of taxes - 670,620 670,620 Non property taxes - County 500,000 500,000 -Day School Tuition 186,247 186,247 -Use of Money & Property 115,000 115,000 -Refund of Prior Years Expenses 60,000 60,000 -Unclassified 55,000 55,000 -Proceeds from Bond Anticipation Note - 4,415,409 4,415,409 Interfund Transfer 276,000 276,000 -Total Revenues 49,840,797 55,900,009 6,059,212

2019-2020 PROPOSED EXPENDITURES

WHERE THE MONEY GOES

Salaries 45.3%

Contract Services 5.5%

Transportation 7.5%Tuitions 0.9%

Supplies 1.7%

Boces 5.5%

Debt Service 11.7%

Transfers 0.8%

Benefits 21.2%

Salaries 45.3%

Contract Services 5.5%

Transportation 7.5%

Tuitions 0.9%

Supplies 1.7%

Boces 5.5%

Debt Service 11.7%

Transfers 0.8%

Benefits 21.2%

*Rate converted to reflect Greenburgh Reassessment

Property Value and Tax Levy Apportionment$43,724,441

Greenburgh 25%

Mount Pleasant 47%

North Castle 28%

Town School Tax Levy% of Levy

Tax Rate per/1000

Greenburgh* 25% 10,931,110 25% 20.5173Mount Pleasant 47% 20,550,487 47% 1407.2812North Castle 28% 12,242,843 28% 888.9323

ESTIMATED TAX RATES

PER / 1000

* Rate converted to reflect Greenburgh Reassessment

2018-19 Final

2019-20 Estimate Change

Greenburgh* 19.59 20.52 4.71%

Mount Pleasant 1369.73 1,407.28 2.74%

North Castle 894.95 888.93 -0.67%

Reserve Fund Summary

Reserve for Tax Certiorari 2,014,028

Capital Reserve Fund 2014 1,763,002

Reserve for Unemployment Ins. 2011 200,851

Reserve for Property Loss/Liability 481,239

Reserve for Employee Retirement Benefits 1,106,300

Reserve for Employee Accrued Benefits 136,306

Total Reserved Fund Balance 5,701,726

BONDED DEBT

Bond 2018-19 BUDGET

2019-20 PROPOSED BUDGET Difference

2012 Bond Refunding $16,000,000 1,182,163 1,175,163 (7,000)

Roof and Track $3,990,000 383,750 386,623 2,873

Energy Performance Contract Lease $3,023,545

249,306 249,306 -

Safety & Security Bond $3,314686 262,775 258,775 (4,000)

2018 Bond Anticipation Note 4,446,764 4,446,764

Total 2,077,994 6,516,631 4,438,637

WHAT’S IN THIS BUDGET

�Security for each Building

�Multi-year Transportation Cooperative with Pleasantville / Mt. Pleasant Schools

�Final Allocation for Kensico Playground

�Temporary Funding for 2016 Capital Project

VALHALLA UNION FREE SCHOOL DISTRICT

BUDGET DEVELOPMENT PROCESS

April 9 Budget Adoption – VMHS Cafeteria – 7:00 PM

May 7 The Knolls– Budget Presentation – 11:00 AM

May 7 Budget Hearing – VMHS Cafeteria – 7:00 PM

May 8 Budget Information Session sponsored by

Valhalla PTA - Kensico Library – 7:00 PM

May 21 Budget Vote

• Applications must be completed to receive an

absentee ballot.

• Completed Applications must be received by

the School District Clerk:

• By or prior to 4:00 P.M. on May 14, 2019, if

the ballot is to be mailed to the voter, OR

• By or prior to 4:00 P.M. on May 20, 2019, if

the ballot is to be picked up personally by

the voter

• Absentee ballots must be received by the

School District Clerk not later than 5:00 P.M.

on May 21, 2019.

� There will be 3 vacancies on the Board of Education.

Petitions are available immediately for the following seats

for the period July 1, 2019 through June 30, 2022:

�Anthony Amiano (who resigned and whose seat is currently filled by appointee James Adams) said term to commence on or about

May 21, 2019 and terminate June 30, 2020.

� Seat held by LaVerne Clark

� Seat held by Michael Doran

� Petitions can be picked up from the District Clerk, 316

Columbus Ave, Valhalla during regular business hours.

� 25 qualified voter* signatures are required on the petition.

� Petitions must be returned no later than

5:00 PM, Monday, April 22, 2019

*Qualified Voter = Must be a US citizen, at least 18 years old

and reside in the district at least 30 days