11

EATONTOWN BOARD OF EATONTOWN BOARD OF EDUCATIONEDUCATION

2007 – 2008 2007 – 2008

BUDGET PRESENTATIONBUDGET PRESENTATION

Monday, March 26, 2007Monday, March 26, 2007

22

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)

33

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.

44

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

55

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)

66

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

77

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

88

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

1010

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

1111

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

1212

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))

1313

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

1414

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

1515

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

1616

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

1717

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

1919

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

2020

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

2222

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

2323

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

2424

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

2727

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

2828

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

2929

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.

3030

Please Continue To Support Please Continue To Support Our Children…Vote on April Our Children…Vote on April

1717thth

Eatontown School DistrictEatontown School District