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  1. Preliminary Budget Update



Board of Education Meeting February 13, 2018


Executive Proposal Analysis

State Aid Comparison


$16,000,000


$14,000,000


$12,000,000

$10,000,000

$8,000,000


$6,000,000

$4,000,000


$2,000,000


$0


Foundation Aid,

+$166K/1.16%


Building Aid,

$100K, 2.60%


Expense Driven Aid,

$512K, 8.32%

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Key Changes in State Aid:

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Foundation Aid Building Aid Expense Driven Aid 2016‐17 2017‐18 2018‐19

Factors Affecting Aid Ratios:


    1. % 5.43%


      5.00%


      4.00%


      3.00%


      2.00%


      1.00%


      0.00%


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      Aid Ratio Factors


      0.82%


      4.53%


      3.29%

      average of 4.53%.


      *These decreases drive our aid ratios up, as a result of the reduction in the District’s combined wealth ratio.

      Property Valuation (per student) Income (per student)


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      State Average Vestal


      Additional Executive Proposal Considerations


      • Summer Special Education Programs

        • Elimination of 80/20 Split for tuition costs.

        • Potential impact of $100K additional expense for Vestal CSD.


      • Cap for Building and Certain Expense Driven Aids

        • Transportation, BOCES and Building Aid would be capped at 2% increases.

        • Potential Impact of $148K in lost future aid (based on 2018‐19 aid projections).


Maximum Allowable Tax Levy




2.50%


2.00%


1.50%


1.00%


0.50%


0.00%


‐0.50%


‐1.00%


2015‐16, ‐0.16%

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Tax Levy Limit/Actual Levy %Increase/Decrease


2017‐18 LIMIT,

2.09%


2017‐18 ACTUAL,

1.54%


2016‐17, ‐0.45%


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Tax Levy Limit Actual Tax Levy


2018‐19, 1.55%


Known Impacts to Expenditures



Health Insurance Base Rate % Change Analysis 4 Year Retirement Comparison


3.35%


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0.85%


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19.00%


17.00%


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18.20%


15.50%


6.10%

5.10%

15.00% 13.26%

13.00%


11.00%


9.00%


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7.00%


11.72%

14.90%

15.30%


9.80% 10.63%


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5.00%


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2015‐16 2016‐17 2017‐18 2018‐19

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2014‐15 2015‐16 2016‐17 2017‐18 2018‐19 TRS ERS