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Vestal Central School District


2018-19 Budget Public Hearing


6 pm, May 8, 2018


Clayton Avenue Elementary Auditorium


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Jeffrey Ahearn, Superintendent

Lorraine Paushter, Interim Assistant Superintendent Matthew Bechtel, School Business Executive

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Vestal Central School District Mission Statement


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Vestal Board of Education

Michon M. Stuart, President Jerry Etingoff, Vice-President Richard Bray, Board Member Linda Daino, Board Member David Hanson, Board Member John Hroncich, Board Member Mario Nunes, Board Member Sylvia Place, Board Member Tony Turnbull, Board Member

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Final Budget Status 2018-19


Final Budget $ 77,010,769


Year-to-Year Increase $ 817,303


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Percentage Increase 1.07%

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Revenue Sources 2018-19



Revenues –


Adopted (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%

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Expenditures 2018-19


Expenditures – 2018-19

Proposed

2017-18

Adopted

$ Change % Change

Adopted (4/10/2018)

Expenditures

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

Expenditures – 2018-19

Proposed


2017-18

Adopted


$ Change % Change

Projected Cont.

Expenditures

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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Three-part Budget Summary



Capital 15.5%

Admin 10.1%


Program 74.4%


Budget Component

2017‐18

2018‐19

Difference

Program

$56,344,414

$57,279,976

$935,562

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

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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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Capital Improvements


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Tax Levy 2018-19


Tax Levy $ 47,564,180


Year-to-Year Increase $ 665,248


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Percentage Increase 1.42%


(Tax Levy Limit $47,624,251; 1.55%)

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Tax Levy/Limit; 4-Year History


2.50%



2.00%

2.09%



1.50%


1.00%


0.50%


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0.00%


‐0.16%‐0.16%

0.50% ‐0.45%‐0.45%


‐1.00%


*Green – Levy Limit, Gold – Actual Levy

    1. % 1.55%


      1.42%

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      Tax Assessment/Impact


      $200,000 Assessed House (projected)

      Tax on True Value

      Without

      STAR

      Basic STAR

      Enhanced

      STAR

      2017-18

      $22.6531

      $4,531

      $3,851

      $3,174

      2018-19

      $22.9744

      $4,595

      $3,906

      $3,211

      INCREASE

      $64

      $55

      $37

      Based on 2017-18 Full Value


      $100,000 Assessed House (projected)

      Tax on True Value

      Without

      STAR

      Basic STAR

      Enhanced

      STAR

      2017-18

      $22.6531

      $2,265

      $1,586

      $908

      2018-19

      $22.9744

      $2,297

      $1,608

      $913

      INCREASE

      $32

      $22

      $5


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      STAR Exemption on School Taxes



      NYS STAR

      Exemptions

      See: www.orps.state.ny.us


      Based on $100,000 Home

      Basic STAR

      Enhanced

      STAR

      2016-17 STAR Tax

      Exemption

      $679

      $1,357

      2017-18 STAR Tax

      Exemption*

      $689

      $1,384

      Increase

      $10

      $27

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      *estimated


      The basic school tax relief (STAR) exemption is authorized by Section 425 of the Real Property Tax Law.

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      How Does Vestal Compare Locally?


      Tax Rate per $100K

      Based on 2017


      $35.00


      $30.00


      $25.00


      $20.00


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      $15.00


      $10.00


      $5.00


      $-


      *Green bar represents Vestal CSD

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      Fund Balance


      Unassigned Fund Balance Trending


      4.10%


      4.00%


      3.90%


      3.80%


      3.70%


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      3.60%


      3.50%


      3.40%


      3.30%


      3.20%


      2014 2015 2016 2017


      Unassigned Fund Balance Statutory Limit

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      Fund Balance



      $12,000,000

      Tax Certiorari Reserve


      $10,000,000


      $8,000,000


      $6,000,000


      $4,000,000


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      $2,000,000


      $0

      2014 2015 2016 2017


      Reserve Unsettled Claims


      • Established to pay for judgements and claims resulting from tax certiorari proceedings.

      • Vestal’s highly commercial tax base increases potential unsettled claims.

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Fiscal Health


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Proposition #1

Budget 2018-19


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Proposition #2

Purchase of School Buses


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School Board Member Election