Proposed Exeter-Antietam budget
-
Upload
readingeagle -
Category
Documents
-
view
277 -
download
1
description
Transcript of Proposed Exeter-Antietam budget
-
March 26, 2014
Antietam
School District
&
Exeter Township School District
Projected Merged Budget
2016-17 & 2017-18
1
-
Exeter Township School District
2015-2016 2016-2017 2017-2018
Projected Revenue 69,486,393 71,787,292 73,893,496
Projected Expenditures 71,508,238 75,090,217 77,666,196
Revenue Less Exp (2,021,845) (3,302,925) (3,772,700)
Fund Balance Beg of Year 13,303,002 11,281,157 7,978,232
Increase (Decrease) (2,021,845) (3,302,925) (3,772,700)
Fund Balance End of Year 11,281,157 7,978,232 4,205,532
BUDGET SUMMARY
2
-
Antietam School District
2015-2016 2016-2017 2017-2018
Projected Revenue 16,251,499 16,739,982 17,157,720
Projected Expenditures 16,951,299 17,726,628 18,254,108
Revenue Less Exp (699,800) (986,646) (1,096,388)
Fund Balance Beg of Year 3,970,015 3,270,215 2,283,569
Increase (Decrease) (699,800) (986,646) (1,096,388)
Fund Balance End of Year 3,270,215 2,283,569 1,187,181
BUDGET SUMMARY
3
-
BUDGET SUMMARY Merged District
2016-2017 2017-2018
Projected Revenue 88,527,274 91,051,216
Projected Expenditures 92,816,845 95,920,304
Revenue Less Exp (4,289,571) (4,869,088)
Revenue Adjustments (1,026,782) (1,034,078)
Expenditure Adjustments (749,732) (749,732)
Revenue Less Exp Adjustments (277,050) (284,346)
Net Revenue Less Exp (4,566,621) (5,153,434)
Fund Balance Beg of Year 14,551,372 9,984,751
Increase (Decrease) (4,566,621) (5,153,434)
Fund Balance End of Year 9,984,751 4,831,317 4
-
REVENUE ASSUMPTIONS
Local Revenues Real Estate Taxes increased by the projected adjusted
index of 3% each year Loss of revenue reducing ASD millage to ETSD rate Minimal, if any, increases based on trend data State Revenues Social Security & Retirement driven by wages and
contribution rates Flat funded
Federal Revenues Flat funded
5
-
Exeter Township School District
2015-2016 2016-2017 2017-2018
Assessed Value 1,399,820,252 1,402,619,893 1,405,425,133
Millage 32.5753 33.5526 34.6598
Real Estate Tax 42,239,000 43,645,000 45,232,000
Antietam School District
2015-2016 2016-2017 2017-2018
Assessed Value 261,416,994 261,865,288 262,277,301
Millage 36.5900 37.6800 38.8100
Real Estate Tax 8,630,985 8,917,730 9,236,820
REAL ESTATE TAXES
6
-
REAL ESTATE TAXES ASD Assessed Value at ETSD Millage Rate
2016-2017 2017-2018
Assessed Value 261,865,288 262,277,301
Millage 33.5526 34.6598
Real Estate Tax 7,890,948 8,202,742
Incr/(Decr) (1,026,782) (1,034,078)
Merged Real Estate Taxes
2016-2017 2017-2018
Assessed Value 1,664,485,181 1,667,702,434
Millage 33.5526 34.6598
Real Estate Tax 51,535,948 53,434,742
7
-
General Fund Expense Assumptions: Projections through 2017-2018
Combined District On-going Cost Savings and Increases
Projections through 2017-2018 Wage increase 2% to 2.5%
Attritional Savings: $175k per year
Benefits: HC 9%; PSERs 21.4% to 30.25%; All Other 2% to 2.5%
Supplies, Equipment, Purchased Services 1.9% to 2.5% inflationary factor
Special Education Contracted Services, Tuition 2.5% increase based on trend
Fuel & Utilities 3.5% per year
Insurance 5% per year
Replacement Textbooks 2% per year
Technology Planned cycle of equipment replacement
Debt Service Per payment schedule
Major Repairs & Improvements- Use of general fund commitments or funded with capital project funds
Combined District On-going Cost Savings and Increases ASD EA assumes ETEA contract salary
schedule and benefits
Eliminate staff based on school configuration ; efficient class sizes; school building closures; duplicate administrative and support services.
Increase in Unemployment Compensation
Potential increase in staff due to larger student population in ETSD high school, and more students being transported as well as larger transportation fleet.
Transportation vehicle and operating cost increases due to transporting a portion of ASD students due to school configuration and ETSDs established transportation practices.
Technology cost increases due to additional licensing/maint/renewal, and SHS one-to-one laptop initiative.
Curriculum Addl textbook costs
Building Operation cost savings resulting from closing buildings
Other Included Costs Music Equipment
8
-
Combined School Districts Exeter Township School District & Antietam School District
Close
480
Close
510
600
360
570 570
1620
225
600 675
500
700 625
900
700
1550
0
200
400
600
800
1000
1200
1400
1600
1800
MP Primary Mt. PennElem K-5
Jkwld Lorane K-5 Owatin K-5 Reiffton K-5 AJHSH 6-8 EJH 6-8 ESH 9-12
Enrollment Projections: Source Civic Research Alliance Report
Combined School District Configuration 2016-2017 Enrollment = 4709
Enrollment Decline of 312 students from 2013-14
Projected Enrollment
Building Capacity
9
-
Teacher Contract Changes in a Combined School District ASD to assume ETSD Contract 2016-2017
Teacher Salary Schedule Based on ETSD 2015-16 Contract Schedule compared to 2012-13 ASD schedule with 2% escalation factor per year through 2015-16. 91 ASD Teachers to assume ETSD Salary Schedule
Incremental Wage Increase based on Salary Schedule in 16-17 $435,606
Net Wage related cost increase in FICA and Retirement in 16-17 $ 72,942
Other Benefit enhancements for ASD teachers EXFLEX, Retirement Pay $104,400
Potential Column Movement for ASD staff to M15, M60 $ 87,559
TOTAL $700,507
Note: Impact of status/bargaining unit changes of support personnel are not included in this analysis.
10
-
Staffing Changes in a Combined School District
Eliminate Positions 28.5 FTEs (Full Time Equivalents) (General fund positions only)
Total Cost Savings $2,366,027 Note: The teaching staff reduction figure is a compromise between proposals discussed by Superintendents which ranged from 5 to 27 staff cuts. The average cost savings per teacher is $95,301; 12 cuts saves $1,143,616.. Appropriate staffing will depend upon schedules and anticipated class size. Other positions to be eliminated are the result of (2) school building closures, and duplicate administrative and support services. (Changes to food service staff are not included in the analysis .)
Teachers 12
Buildings & Grounds 4.5
Business Office Staff/Child Accounting 3
Principals 2
Elementary Building Secretaries 2
Superintendent 1
Business Manager 1
Buildings & Grounds Supervisor 1
Superintendent's Secretary 1
Health Assistant 1
28.5
11
-
Staffing Changes in a Combined School District
Add Position 2 FTE Recommended by ASD and ETSD
Total Cost of Recommended Positions $166,901
Unemployment Compensation Cost Increase 2 Years $366,834
Bus Driver wage and benefit costs will increase due to an increase in routes and driver hours but for purposes of this analysis the additional costs related to transportation were aggregated.
Assistant Principal HighSchool 1
Transportation Secretary/Sub Driver 1
12
-
Staffing Changes in a Combined School District
Add Positions 4 FTEs Recommendation proposed by ETSD; rejected by ASD
Total Cost of Recommended Positions $339,460
(Not included in Combined District costs)
Special Ed Supervisor (elem/middle/hs) 1
Student Support/Alt Ed Supervisor 1
Security Support 1
Bus Mechanic 1
13
-
Combined School District Transportation Operations Increased Costs
I. Three-Tier school schedules 9-12; 6-8; K-5
I. Capital Investment: QTY Total
Bus Purchase Cost - 78 Passenger school bus 99,000$ Each 3 297,000$
Wheel Chair Lift Equipped Buses 107,000$ Each 1 107,000$
54 Passenger Buses for Additional Non-Public Transp.
Boundary Requirements
expand when Antietam
7-12 are transported 82,000$ Each 2 164,000$
Add'l Two-way radios 330$ Each 12 3,960$
Total New Vehicle Cost 571,960$
Option to Lease Additional Buses - Annual Payments - 5 yr term; 4.5% 130,300$ (1)
II. Operating Cost:
Additional Regular Routes per day 295.00$ Per Day 3 160,185$
Additional Special Needs Wheel Chair Lift Equipped bus 295.00$ Per Day 1 53,395$
Additional Non-Public Transportation Requirements 295.00$ Per Day 2 106,790$
Add'l Staff - (1) Mechanic Included with Staffing
- (1) Secretary/ Spare Driver Included with Staffing
Additional hours - more square miles to cover on route 60,000$
( 25 vehicles; 30 min; 181 days = 2308 hours
Additional Mileage Fuel - Antietam 5 square miles; 46k miles 17,300$
Total Additional Operating Cost 397,670$ (2)
V. Transportation Subsidy; FICA & Retirement State Reimbursement Increase 170,998$ (3)
Net Increase in General Fund Expense (1) + (2) - (3) 356,972$
Exeter Township SD/Antietam SD Merger Study
Estimate of Transportation Costs
Based on Projected 2016-2017 Costs
14
-
Combined School District Ongoing Increased or Reduced Costs
Technology & Other
Technology Licensing, Maintenance, and Renewal $91,426
Senior High School One-to-One Initiative to include ASD 9-12 students (annual
lease pymt.) $46,200
Musical Instrument Lease $20,000
Facility Operations
Closing Mt.Penn Primary Center and Jacksonwald Elementary will reduce utility, telecommunication, copier rental, repair & maintenance, and cleaning supply costs. Reduction in staff reflected in staffing changes.
Estimated reduction in costs ($141,438)
15
-
One Time Costs
Consultant - 2 Years $ 224,640
Technology $ 209,800
Textbooks $ 153,000
Library Books $ 30,000
Moving Expense $ 100,000
Furniture and Other Bldg Accommodations $ 25,000
Total One Time Costs $ 742,440
16
-
Other Budget Impact Items to Consider in a Combined School District
Compensated Absences
Benefit Waiver
Available Real Estate for lease or sale
Professional Development Costs
Charter School enrollment increase and tuition costs
Textbook purchase costs for schedule changes
Subsidy changes due to combined aide ratio
Funding from state toward implementation of merger
Legal Fees
Unassigned fund balance limitation of 8% of budgeted expenditures will apply in a combined school district
Fund Balance Commitments
Capital Project and Capital Reserve Funds
17
-
Adjustments CombinedProjection Projection Projection Projection Projection Projection Projection Projection Projection Projection
DESCRIPTION 2015-2016 2016-2017 2017-2018 2015-2016 2016-2017 2017-2018 2016-2017 2017-2018 2016-2017 2017-2018REVENUE
Assessed Value 1,399,820,252 1,402,619,893 1,405,425,133 261,416,994 261,865,288 262,277,301 1,664,485,181 1,667,702,434 Local Sources
Millage 32.5753 33.5526 34.6598 36.5900 37.6800 38.8100 33.5526 34.6598
Real Estate Tax 42,239,000 43,645,000 45,232,000 8,630,985 8,917,730 9,236,820 (1,026,782) (1,034,078) 51,535,948 53,434,742 Interim Real Estate Tax 50,060 51,040 51,040 10,000 10,000 10,000 61,040 61,040 Occupational Priviledge Tax 80,100 80,100 80,100 - - - 80,100 80,100 Realty Transfer Tax 407,726 413,841 420,049 65,650 66,307 66,970 480,148 487,019 Earned Income Tax 3,599,807 3,684,807 3,771,807 757,500 765,075 772,726 4,449,882 4,544,533 Mercantile Tax 574,998 583,623 592,377 - - - 583,623 592,377 Delinquent Real Estate Tax 1,255,200 1,258,200 1,261,200 365,000 365,000 365,000 1,623,200 1,626,200 Interest Income 80,000 80,000 80,000 12,000 12,000 12,000 92,000 92,000 Tuition 77,490 77,490 77,490 45,000 45,000 45,000 122,490 122,490 IU Federal funds 653,291 666,356 679,684 181,854 181,854 181,854 848,210 861,538 Misc Other Local Sources 476,700 510,950 551,262 125,500 125,500 125,500 636,450 676,762
Total Local Sources 49,494,371 51,051,408 52,797,009 10,193,489 10,488,466 10,815,870 (1,026,782) (1,034,078) 60,513,092 62,578,801 3% 3% 3% 3% 3% 3%
State Sources
Basic Instructional Subsidy 8,142,874 8,142,874 8,142,874 3,124,782 3,124,782 3,124,782 11,267,656 11,267,656 Special Education Subsidy 1,775,959 1,775,959 1,775,959 495,797 495,797 495,797 2,271,756 2,271,756 Transportation Subsidy 965,690 965,690 965,690 113,000 113,000 113,000 1,078,690 1,078,690 Property Tax Reduction 1,360,000 1,360,000 1,360,000 456,000 456,000 456,000 1,816,000 1,816,000 Rental & Sinking Fund Payments 1,485,787 1,490,121 1,490,121 98,402 98,339 98,360 1,588,460 1,588,481 Revenue for FICA Payments 1,192,850 1,230,875 1,269,875 333,692 342,799 352,165 1,573,674 1,622,040 Revenue for Retirement Payments 4,154,603 4,856,106 5,177,709 1,127,137 1,311,599 1,392,546 6,167,705 6,570,255 Accountability & EAP Grants 180,893 180,893 180,893 50,000 50,000 50,000 230,893 230,893 Misc. Other State Subsidies 206,039 206,039 206,039 65,200 65,200 65,200 271,239 271,239
Total State Sources 19,464,695 20,208,557 20,569,160 5,864,010 6,057,516 6,147,850 - 26,266,073 26,717,010 4% 2% 3% 1% 4% 2%
Federal Sources 525,327 525,327 525,327 194,000 194,000 194,000 719,327 719,327 Other Financing Sources 2,000 2,000 2,000 - - 2,000 2,000
Projected Revenue 69,486,393 71,787,292 73,893,496 16,251,499 16,739,982 17,157,720 (1,026,782) (1,034,078) 87,500,492 90,017,138 3% 3% 3% 2% 3% 3%
Exeter Township School District Antietam School District Adjustments Combined
One Time/ Upfront Costs
Proj Summ Index Tax Inc 18
-
Adjustments CombinedProjection Projection Projection Projection Projection Projection Projection Projection Projection Projection
DESCRIPTION 2015-2016 2016-2017 2017-2018 2015-2016 2016-2017 2017-2018 2016-2017 2017-2018 2016-2017 2017-2018
Exeter Township School District Antietam School District Adjustments Combined
One Time/ Upfront Costs
EXPENDITURES
Salaries 30,336,200 31,303,260 32,295,080 7,393,193 7,594,977 7,802,473 (850,809) (850,809) 38,047,428 39,246,744 3% 3% 3% 3% 3% 3%
Benefits 19,085,178 21,160,715 22,581,023 4,550,745 5,037,701 5,363,527 (272,083) (272,083) 25,926,333 27,672,467 11% 7% 11% 6% 11% 7%
Non-Payroll Expendtures:
300 - Professional & Technical Serv. 2,324,402 2,365,020 2,422,010 523,848 536,944 550,368 2,901,964 2,972,378 324,640 400 - Purchased Property Services 1,778,206 1,830,358 1,884,090 545,900 562,277 579,145 (54,338) (54,338) 2,338,297 2,408,897 500 - Other Purchased Services 5,049,631 5,178,933 5,311,619 1,560,589 1,607,407 1,655,629 37,776 37,776 6,824,116 7,005,024 600 - Supplies, Books, Heat/AC, Fuel 2,339,295 2,402,202 2,466,863 483,313 495,396 507,781 239,422 239,422 3,137,020 3,214,066 183,000 700 - Property 820,035 895,911 907,062 35,000 35,000 35,000 930,911 942,062 234,800 800 - Dues, Interest, Claims 5,342,690 5,338,049 5,316,122 633,711 611,926 585,185 5,949,975 5,901,307 900 - Principal Payment, Reserve 4,349,601 4,463,769 4,478,327 1,225,000 1,245,000 1,175,000 150,300 150,300 5,859,069 5,803,627 430 - Major Maintenance 4,000 4,000 4,000 - 4,000 4,000 450 - Bldg Renovations - - - - 750/760 - Major Improvements 79,000 148,000 - - 148,000 - 900 - Transfer to Capital Reserve
Projected Expenditures 71,508,238 75,090,217 77,666,196 16,951,299 17,726,628 18,254,108 (749,732) (749,732) 92,067,113 95,170,572 742,440
5% 3% 5% 3% 5% 3% Revenue Less Exp (2,021,845) (3,302,925) (3,772,700) (699,800) (986,646) (1,096,388) (277,050) (284,346) (4,566,621) (5,153,434) (742,440)
Fund Balance Beg of Year 13,303,002 11,281,157 7,978,232 3,970,015 3,270,215 2,283,569 14,551,372 9,984,751 Fund Balance End of Year 11,281,157 7,978,232 4,205,532 3,270,215 2,283,569 1,187,181 (277,050) (284,346) 9,984,751 4,831,317
Proj Summ Index Tax Inc 19