1 EATONTOWN BOARD OF EDUCATION 2007 – 2008 BUDGET PRESENTATION Monday, March 26, 2007.
Transcript of 1 EATONTOWN BOARD OF EDUCATION 2007 – 2008 BUDGET PRESENTATION Monday, March 26, 2007.
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EATONTOWN BOARD OF EATONTOWN BOARD OF EDUCATIONEDUCATION
2007 – 2008 2007 – 2008
BUDGET PRESENTATIONBUDGET PRESENTATION
Monday, March 26, 2007Monday, March 26, 2007
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MISSION STATEMENTMISSION STATEMENT
Eatontown’s vision and mission is to develop a Eatontown’s vision and mission is to develop a community of lifelong learners where children community of lifelong learners where children
have healthy self-esteem, respect and have healthy self-esteem, respect and compassion for otherscompassion for others
(Cont’d)(Cont’d)
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MISSION STATEMENTMISSION STATEMENT((continued)continued)
essential and technical knowledge, essential and technical knowledge, and the creative problem-solving and the creative problem-solving skills needed to meet the challenges skills needed to meet the challenges of successful citizen in an ever of successful citizen in an ever changing multi-cultural global changing multi-cultural global society.society.
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Eatontown Board of Education Eatontown Board of Education 2007-2008 Timeline2007-2008 Timeline
DatesDates ActivityActivity
March 12March 12
March 13March 13
March 26 – 7:30 March 26 – 7:30 PMPM
April 17April 17
Preliminary Budget AdoptionPreliminary Budget Adoption
Meeting with Municipal Body Meeting with Municipal Body Rep.Rep.
Public HearingPublic Hearing
School Budget/Board ElectionSchool Budget/Board Election
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New Legislation Impacting 2007-2008 New Legislation Impacting 2007-2008 Budget Budget
Assembly Bill – 1 The Tax Levy Cap Assembly Bill – 1 The Tax Levy Cap LawLaw
Limits the increase in the tax levy to 4% Limits the increase in the tax levy to 4%
Automatic and Commissioner Approved tax levy adjustmentsAutomatic and Commissioner Approved tax levy adjustments
Allows for the creation of a Current Expense Emergency Allows for the creation of a Current Expense Emergency Reserve AccountReserve Account
(cont’d)(cont’d)
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New Legislation Impacting New Legislation Impacting 2007-2008 Budget 2007-2008 Budget
Assembly Bill – 1 The Tax Levy Cap LawAssembly Bill – 1 The Tax Levy Cap Law
Some loosening of Some loosening of surplus restrictions surplus restrictions
Allows for no tax levy Allows for no tax levy cap adjustment for cap adjustment for
non-recurring revenue non-recurring revenue for 2007-2008 for 2007-2008
New rule changes for New rule changes for second ballot (above second ballot (above
cap) questionscap) questions
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Tax Levy Cap CalculationTax Levy Cap Calculation2006-07 Tax Levy2006-07 Tax Levy $12,689,970.00$12,689,970.00
Less 2006-2007 Less 2006-2007 Capital Outlay Cap Capital Outlay Cap AdjustmentAdjustment
$ 0$ 0
Pre-Budget year Tax Pre-Budget year Tax LevyLevy
$12,689,970.00$12,689,970.00
Pre-Budget year Pre-Budget year adjusted Tax Levy adjusted Tax Levy inflated by 4% inflated by 4%
$13,197,569.00$13,197,569.00
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The 2007-2008 Budget The 2007-2008 Budget Provides For:Provides For:
Strong academic programs based on the Strong academic programs based on the State Core Curriculum Content State Core Curriculum Content StandardsStandards
Professional growth and development of Professional growth and development of the teaching staffthe teaching staff
Hiring of additional personnel: one basic Hiring of additional personnel: one basic skills teacher, one van driver and van skills teacher, one van driver and van aide, four part-time office aides aide, four part-time office aides
Implementation of the following new Implementation of the following new curricula:curricula:
1. Language Arts Literacy1. Language Arts Literacy 2. Visual & Performing Arts2. Visual & Performing Arts 3. Comprehensive Health &3. Comprehensive Health & Physical EducationPhysical Education
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The 2007-2008 The 2007-2008 Budget ProvidesBudget Provides
(Continued)(Continued)
Funding for the 2Funding for the 2ndnd of a 4 of a 4 year lease/purchase of year lease/purchase of 300 notebook computers 300 notebook computers Programs to meet special Programs to meet special and individual student and individual student needsneedsPurchase of a new 16 Purchase of a new 16 passenger/two passenger/two wheelchair & lift wheelchair & lift handicapped vanhandicapped vanContinuation of the 3 & 4 Continuation of the 3 & 4 year-old Preschool year-old Preschool ProgramProgramBuilding improvements Building improvements and upkeepand upkeep
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Major Factors Impacting Major Factors Impacting Tax Levy Tax Levy
PersonnelPersonnel
Insurance Increases:Insurance Increases:
a) Medicala) Medical
b) b) Property/CasualtyProperty/Casualty
EnergyEnergy
Capital EquipmentCapital Equipment
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General Fund RevenuesGeneral Fund Revenues2006-2007 2006-2007 Original Original RevenuesRevenues
2007-2008 2007-2008 Proposed Proposed RevenuesRevenues
State AidState Aid $3,817,049$3,817,049 $3,933,576$3,933,576
Impact AidImpact Aid $400,000$400,000 250,000250,000
Fund BalanceFund Balance $488,457$488,457 $1,112,720$1,112,720
Unrestricted Unrestricted Miscellaneous RevenueMiscellaneous Revenue
$112,120$112,120 $112,120$112,120
Tax LevyTax Levy $12,689,970$12,689,970 $13,197,569$13,197,569
Total General FundTotal General Fund $17,507,596$17,507,596 $18,605,985$18,605,985
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General Fund State AidGeneral Fund State Aid
A 3% increase ($116,527) in general fund state aidA 3% increase ($116,527) in general fund state aidAdditional Targeted At Risk Aid (TARA) in the amount of Additional Targeted At Risk Aid (TARA) in the amount of $143,500 will be provided to the district upon submission $143,500 will be provided to the district upon submission of an application/program implementation planof an application/program implementation planThis new additional aid, by state directive can not be This new additional aid, by state directive can not be utilized for tax relief in the 2007-2008 budgetutilized for tax relief in the 2007-2008 budget
(Cont’d(Cont’d))
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General Fund State AidGeneral Fund State Aid2006-20072006-2007 2007-20082007-2008
Transportation AidTransportation Aid $301,183$301,183 $301,183$301,183
Special Education Special Education AidAid
$972,177$972,177 $972,177$972,177
Bilingual EducationBilingual Education $35,058$35,058 $35,058$35,058
Consolidated AidConsolidated Aid
$126,851$126,851
$126,851$126,851
Stabilization AidStabilization Aid $2,381,780$2,381,780 $2,381,780$2,381,780
Additional Formula Additional Formula AidAid
$0$0 $116,527$116,527
TotalTotal $3,817,049$3,817,049 $3,933,576$3,933,576
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General Fund Balance: General Fund Balance: What Is It? What Is It?
In essence the Board’s Savings AccountIn essence the Board’s Savings AccountLimited by law to the greater of $250,000 or Limited by law to the greater of $250,000 or 2% of the general fund budget2% of the general fund budgetFluctuates from year to yearFluctuates from year to year
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General Fund: Other Revenues General Fund: Other Revenues and the Tax Levyand the Tax Levy
Investment Investment Income: $112,120Income: $112,120
Tax Levy: Tax Levy: $13,197,569$13,197,569
This is the This is the amount residents amount residents vote upon April vote upon April 17, 200717, 2007
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General Fund RevenueGeneral Fund Revenue
Tax Levy, $13,197,569 ,
71%
Impact Aid, $250,000 ,
1%
Miscellaneous Revenue,
$112,120 , 1% Fund Balance,
$1,112,720 , 6%
State Aid, $3,933,576 ,
21%
State Aid
ImpactAid
FundBalance
MiscellaneousRevenueTax Levy
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General Fund General Fund AppropriationsAppropriations
2006-2007 2006-2007 OriginalOriginal
AppropriationsAppropriations
2007-2008 2007-2008 ProposedProposed
AppropriationsAppropriations
Total Current Total Current ExpenseExpense $17,302,131$17,302,131 $18,483,965$18,483,965
Total Capital Total Capital OutlayOutlay
$205,465$205,465 $122,020$122,020
Total General Total General FundFund
$17,507,596$17,507,596 $18,605,985$18,605,985
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Advertised AppropriationsAdvertised Appropriations
InstructionInstruction 2007– 2008 2007– 2008 AppropriationsAppropriations
Regular ProgramRegular Program $6,216,995$6,216,995
Special EducationSpecial Education $1,413,784$1,413,784
Basic Skills/RemedialBasic Skills/Remedial $530,362$530,362
Bilingual EducationBilingual Education $113,550$113,550
Co/Extra-Curricular Activities & Co/Extra-Curricular Activities & School Sponsored Athletic ActivitiesSchool Sponsored Athletic Activities
$140,818$140,818
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Advertised Advertised Appropriations ContinuedAppropriations Continued
2007-2008 Appropriations2007-2008 Appropriations
Tuition – Grades K-8 and Special Tuition – Grades K-8 and Special EducationEducation
$578,984$578,984
Other Support Services- Guidance Other Support Services- Guidance
$ 165,120$ 165,120
Health ServicesHealth Services $265,792$265,792
Other Support Services- Regular Other Support Services- Regular Education-e.g.. Speech Svcs.Education-e.g.. Speech Svcs.
$337,411$337,411
Other Support Services –Special Other Support Services –Special EducationEducation
$683,998$683,998
Improvement of Instructional Improvement of Instructional ServicesServices
$133,200$133,200
Educational Media ServicesEducational Media Services $472,864$472,864
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Advertised Appropriations Advertised Appropriations ContinuedContinued
2007 -2008 Appropriations2007 -2008 Appropriations
Instructional Staff TrainingInstructional Staff Training $56,840$56,840
General AdministrationGeneral Administration $581,754$581,754
School AdministrationSchool Administration $700,015$700,015
Central Service & Admin Info Central Service & Admin Info TechnologyTechnology
$440,641$440,641
Operation & MaintenanceOperation & Maintenance $1,894,597$1,894,597
TransportationTransportation $1,083,713$1,083,713
Emergency ReserveEmergency Reserve $77,625$77,625
Employee BenefitsEmployee Benefits $2,595,902$2,595,902
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Breakdown of Employee Breakdown of Employee BenefitsBenefits
CategoryCategory 2007 -2008 Appropriations2007 -2008 Appropriations
PERS Social Security PERS Social Security ContributionsContributions
$127,355$127,355
PERS Pension ContributionPERS Pension Contribution $45,800$45,800
Workmen’s CompensationWorkmen’s Compensation $101,346$101,346
Health BenefitsHealth Benefits $2,211,901$2,211,901
Tuition Reimbursement Tuition Reimbursement $40,000$40,000
OtherOther $69,500$69,500
Total Employee BenefitsTotal Employee Benefits $2,595,902$2,595,902
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Salaries and BenefitsSalaries and Benefits
$2,595,902
$10,835,722
$18,605,985
$-
$2,000,000
$4,000,000
$6,000,000
$8,000,000
$10,000,000
$12,000,000
$14,000,000
$16,000,000
$18,000,000
$20,000,000
Total Benefits Total Salaries Total Budget
Salaries and Benefits represent 72.2% of the 2007-2008 Tentative BudgetSalaries and Benefits represent 72.2% of the 2007-2008 Tentative Budget
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2007 -2008 Proposed Capital Outlay 2007 -2008 Proposed Capital Outlay Appropriations - EquipmentAppropriations - Equipment
School/DepartmentSchool/Department DescriptionDescription $ Amount $ Amount
Memorial Middle Memorial Middle SchoolSchool
Electric PianoElectric Piano $2500$2500
Woodmere Woodmere ElementaryElementary
Cafeteria TablesCafeteria Tables $34,400$34,400
CurriculumCurriculum Program Learning Program Learning Centers-LALCenters-LAL
$15,000$15,000
TransportationTransportation 16 pass./2 16 pass./2 wheelchair lift wheelchair lift
handicapped vanhandicapped van
$55,000$55,000
FacilitiesFacilities Grounds Grounds Equipment-Toro Equipment-Toro tractor/mowertractor/mower
$15,000$15,000
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How Are My Tax How Are My Tax Dollars Spent?Dollars Spent?Instructional & Instructional &
Instructional Support Instructional Support Programs Include: Programs Include:
I.I. Salaries Of our instructional Salaries Of our instructional personnel including personnel including teachers, nurses, aides, etc. teachers, nurses, aides, etc. This category also includes This category also includes staff development, library staff development, library books, textbooks. Teaching books, textbooks. Teaching supplies, as well as tuition supplies, as well as tuition for our out-of district for our out-of district placements and K-8 regular placements and K-8 regular ed studentsed students
Other Support includes:Other Support includes:I.I. School/Central School/Central
Administration, operation Administration, operation and maintenance of school and maintenance of school facilities, transportation facilities, transportation costs, employee health costs, employee health benefits, and capital outlaybenefits, and capital outlay
Instruction/Instructional
Support, $11,109,718 ,
60%
Other Support, $7,496,267 ,
40%
Total General Fund Budget
$18,605,985
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Budget Summary Comparison Budget Summary Comparison 2006-2006-2007 vs. 2007-20082007 vs. 2007-2008
Original 2006-Original 2006-20072007
Proposed 2007-Proposed 2007-20082008
$ Diff.$ Diff.
General Fund General Fund Tax LevyTax Levy
$12,689,970$12,689,970 $13,197,569$13,197,569 $507,599$507,599
Assessed Assessed ValuationValuation
$2,634,312,38$2,634,312,3822
Revaluation Revaluation YearYear
$2,490,880,992$2,490,880,992 $(143,431,39$(143,431,390)0)
General Fund-General Fund-Tax Rate:Tax Rate:
Per $100 of Per $100 of Assessed Assessed ValueValue
$0.4820$0.4820 $0.5298$0.5298 $0.0478 $0.0478
*$0.019*$0.019
*This would be the increase in the tax rate if there *This would be the increase in the tax rate if there was no change in assessed valuationwas no change in assessed valuation
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Tax Impact- Proposed 2007-2008 Tax Impact- Proposed 2007-2008 BudgetBudget
Annual Tax on Annual Tax on aa
Budget YearBudget Year Budget YearBudget Year Increase Increase
Home with the Home with the following:following:
2006-20072006-2007 2007-20082007-2008 2007-20082007-2008
Average Average Residential Residential AssessmentAssessment
$399,055$399,055 $399,055$399,055
Annual TaxAnnual Tax $1,923.45$1,923.45 $2,114.19$2,114.19 $190.75/year$190.75/year
$15.90/month$15.90/month
Annual Tax Annual Tax with no with no change in change in the the assessed assessed valuationvaluation
$1,923.45$1,923.45 $1,999.27$1,999.27 $75.82/$75.82/yearyear
$6.32/$6.32/monthmonth
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Calculating Your TaxesCalculating Your Taxes
(Assessed Value / 100) X School Tax (Assessed Value / 100) X School Tax RateRate
Example using average residential Example using average residential assessment:assessment:
($399,055 / 100) X .5298($399,055 / 100) X .5298
Equals $2,114.19Equals $2,114.19
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Budget AccomplishmentsBudget Accomplishments
Reasonable, Fiscally Responsible, while Reasonable, Fiscally Responsible, while addressing the needs of all studentsaddressing the needs of all studentsMaintains current educational and extra/co-Maintains current educational and extra/co-curricular programscurricular programsContinues the implementation of new curriculumContinues the implementation of new curriculumMeets state mandatesMeets state mandatesProvides needed staff/developmentProvides needed staff/developmentProgress towards completing projects in the Progress towards completing projects in the district’s Long Range Facilities Plan and 3 Year district’s Long Range Facilities Plan and 3 Year Comprehensive Maintenance PlanComprehensive Maintenance Plan
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Annual School Election Annual School Election
Polling PlacesPolling Places Polling DistrictsPolling Districts
Community CenterCommunity Center 1 & 21 & 2
*St. Dorothea’s*St. Dorothea’s 3, 4, & 93, 4, & 9
Memorial SchoolMemorial School 5 & 65 & 6
* Eatontown Library* Eatontown Library 7 & 87 & 8
The Annual School Election will be held on Tuesday, April The Annual School Election will be held on Tuesday, April 17, 2007 between the hours of 3:00 pm and 9:00pm., 17, 2007 between the hours of 3:00 pm and 9:00pm.,
prevailing time, as follows:prevailing time, as follows:
* The polling locations for Districts 3,4,9, 7 & 8 have been * The polling locations for Districts 3,4,9, 7 & 8 have been changed. changed.
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Please Continue To Support Please Continue To Support Our Children…Vote on April Our Children…Vote on April
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Eatontown School DistrictEatontown School District