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Vestal Central School District


2018-2019 Budget Update


April 10, 2018


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Balancing The Budget




2018-19 Levy $47,564,180; 1.42% increase (under 1.55% cap).


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Balanced Budget Summary


Revenue Projections $77,010,769 Expenditure Projections $77,010,769

Balanced Budget (4/2/2018) ($0)


Budget-to-Budget Increase

$817,303

(Expenditures)

1.07%


Tax Levy Increase


1.42%

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(Levy Limit 1.55%)


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Revenues –


Projected (4/10/2018)

2018-19

Proposed Revenue

2017-18

Adopted Budget


$ Change


% Change


Tax Levy


$47,564,180


$46,898,932


$665,248


1.42%


PILOT


$1,162,740


$1,063,792


$98,948


9.30%


Other Revenue


$1,573,700


$1,741,700


-168,000


-9.65%


State Aid


$25,210,149


$24,325,868


$884,281


3.64%


Appropriated Fund Balance


$1,500,000


$2,163,174


-663,174


-30.66%


TOTAL :


$77,010,769


$76,193,466


$817,303


1.07%

Revenue – Balanced Budget


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Expenditures –


Projected (4/10/2018)

2018-19

Proposed Expenditures

2017-18

Adopted $ Change % Change Budget


Salaries


Professional


$24,115,697


$23,501,236


$614,461


2.61%


Support


$8,209,810


$8,435,132


-225,322


-2.67%


Equipment


$323,255


$317,755


$5,500


1.73%


Contractual


$4,451,102


$4,320,197


$130,905


3.03%


Materials & Supplies


$1,571,144


$1,614,144


-43,000


-2.66%


BOCES


$11,639,310


$11,541,290


$98,020


0.85%


Debt Service


$5,774,217


$5,787,585


-13,368


-0.23%

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Expenditures – 2018-19 2017-18

Proposed $ Change % Change Projected Cont. Expenditures Adopted Budget


Benefits:


ERS


$1,066,822


$1,125,137


-58,315


-5.18%


TRS


$2,650,000


$2,369,800


$280,200


11.82%


Social Security


$2,575,000


$2,547,650


$27,350


1.07%


Workman's Comp


$380,804


$437,852


-57,048


-13.03%


Life Insurance


$10,000


$9,840


$160


1.63%


Unemployment


$40,000


$50,000


-10,000


-20.00%


Health Insurance


$13,601,782


$13,540,848


$60,934


0.45%


Dental Insurance


$235,000


$235,000


0


0.00%


Other Benefits


$93,000


$93,000


0


0.00%


Interfund Transfers


$273,826


$267,000


$6,826


2.56%


TOTAL :


$77,010,769


$76,193,466


$817,303


1.07%

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Category

Total Budget

% of Budget

Salaries

$32,325,507

41.98%

Benefits

$20,652,408

26.82%

BOCES

$11,639,310

15.11%

Debt Service

$5,774,217

7.50%

Contractual

$4,451,102

5.78%

Materials & Supplies

$1,571,144

2.04%

Equipment

$323,255

0.42%

Interfund Transfers

$273,826

0.36%

$77,010,769

Expenditure Categories


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Three-Part Budget Summary



Capital - 15.68%

Admin - 10.22%


Budget Component

2017‐18

2018‐19

Difference

Program

$56,344,414

$57,279,976

$928,562

Capital

$11,938,709

$11,947,390

$8,681

Administrative

$7,910,343

$7,783,403

($126,940)

Total

$76,193,466

$77,010,769

$817,303

Program - 75.18%


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Projected New Positions



*New FTEs are based on current budgeted projections and are subject to change based on actual enrollment and staffing needs.


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Tax Levy



Est. Taxes for $100,000 Home at Full Value in the Town of Vestal

With no STAR

With Basic STAR

Taxes Paid

$2,297

$1,608

STAR Savings

$0

$689

Tax increase

$32

$22


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Proposition # 2 – Purchase of School Buses



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Approximately $24 per $100K assessed (with no exemptions).


Will first appear on 2020 School Tax bill.


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Budget/BOE Vote Timeline