District Budget Development 2024-25 Overview

The district's budget development for 2024-25 focuses on staying within tax cap limitations, preserving student programs, recognizing the fiscal climate, and strategically managing resources. Major budget items include health insurance increases, salary adjustments, and maintenance costs. Revenue projections consider state aid reductions, tax cap calculations, and other income sources. The regular education budget area shows changes in salaries, tuitions, and supplies to support staff and student needs.

• Budget
• Development
• District
• Education
• Finance

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Uploaded on Jul 01, 2024 | 1 Views

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Presentation Transcript

1. Budget Development 2024-25 February 15, 2024

2. Mission The mission of the district is to educate students in the values, critical skills and essential knowledge necessary to be informed and responsible citizens, prepared to take the next steps in their education, careers and lives in our diverse society.

3. Budget Goals To design and adopt a budget that: Stays within the Tax Cap limitations Preserves programs for students Recognizes the current fiscal climate Utilizes all available resources to keep rising costs at a minimum and explores cost saving options Strategically manages reserves and fund balance Supports the students, families and taxpayers of the district

4. Major Budget Items Health Insurance Increases (preliminary) 8.8% CDPHP 14% BSNENY (Highmark) 9.1% Caremark Prescription Salary Increases SPED student needs CTE Increase more students attending programs O&M Increase ageing building/preventative maintenance Transportation Increase ageing buses/increased bus costs COVID grant funded items back to General Fund Non-budgeted items from current year budget

5. Revenue State Aid Decrease in foundation aid of $122,342 Taxes Initial tax cap calculation of $15,103,357 = 3.50% 2.0% CPI Increase for calculation We have remained at or under the tax cap since enactment Other Decrease in Wynantskill tuition (less students picking our district) Increase in interest revenue COVID grant funds to end 9/30/2024

6. Tax Cap Tax Increase Year % CPI for tax cap of 2.0% 2023-24 2.58% 2022-23 1.99% 2021-22 2.75% Capital exclusion due to expenses that are greater than revenues 2020-21 2.99% 2019-20 4.25% 2018-19 2.82% 2017-18 1.50% 2016-17 0.89% Highest increase without super majority is 3.50% 2015-16 1.96% 2014-15 1.82% 2013-14 4.49% Increase of $510,455 2012-13 2.49% 2.54% Average

7. Regular Education Budget Area 2024-25 2023-24 $5,839,633 Change $329,569 Salaries Instruct* $6,169,202 Salaries Non** Tuitions Materials & Supplies $125,550 Contractual Textbooks BOCES TOTAL $178,860 $130,000 $138,591 $130,000 $113,900 $43,500 $47,000 $96,000 $6,429,624 $40,269 $0 $11,650 $950 $0 ($12,500) $348,938 $44,450 $47,000 $83,500 $6,778,562 *Positions from COVID funds back to General Fund **Non-budgeted increases to support staff

8. Special Education Area 2024-25 $1,897,270 2023-24 $1,838,082 Change $59,188 Salaries Materials & Supplies Contractual Private Tuitions BOCES Tuitions Public Tuition Charter Tuition BOCES TOTAL $7,750 $67,500 $523,527 $673,090 $75,000 $12,000 $30,000 $3,286,137 $7,750 $67,500 $481,000 $802,000 $75,000 $12,000 $30,000 $3,313,332 $0 $0 $42,527 ($128,910) $0 $0 $0 ($27,195)

9. Other Instructional Area 2024-25 $879,091 2023-24 $752,368 Change $126,723 Occupational Education Drivers Ed Library Guidance* Health Services Psychology Social Work Co-Curricular $8,000 $220,648 $297,934 $178,783 $137,206 $99,486 $55,200 $8,000 $218,958 $242,061 $168,289 $164,492 $96,040 $55,500 $0 $1,690 $55,873 $10,494 ($27,286) $3,446 ($300) *Elementary School Counselor from COVID funds to General Fund

10. Budget to Budget as of 2/15/24 2024-25 $29,181,613 $1,404,805 Increase 5.06% increase 2023-24 $27,776,808

11. Budget Gap Budget = $29,181,613 Revenue = $27,311,774 GAP = $1,869,839 Fund Balance = $500,000 Reserves = $300,000 GAP = $1,069,839

12. Whats next? How much fund balance and reserves do we want to use? What tax increase do we want our tax payers to support? How do we close the budget/revenue gap?