Budget Presentation.pdf - Auburn School District

AUBURN ENLARGED CITY
SCHOOL DISTRICT
2013-2014 BUDGET
March 12, 2013

Budget Components
2013-2014 % 2012-2013 %
Program $47,988,173 70.8% $46,273,973 70.6%
Capital 12,364,296 18.2% 12,119,282 18.5%
Administrative 7,441,966 11.0% 7,183,485 10.9%
Total $67,794,435 100% $65,576,740 100%

Where we are now
Estimated Revenues $ 65,283,226
Appropriations (67,794,435)
Preliminary Budget Shortfall ( 2,511,209)
Options:
• Appropriation of Fund Balance/Reserves
• Additional State Aid Possibility
• Tax Levy Increase

Prior Year Tax Levy (2012-13) $27,958,849
Tax Growth Factor (set by NYS) x 1.0 (new construction)
$27,958,849
Prior Year PILOT Revenue (12-13) +702,228
Prior Year Capital Tax Levy (12-13)
-446,719 (local share of debt)
ADJUSTED PRIOR YEAR TAX LEVY $28,214,358
Allowable Levy Growth Factor x 1.02 (lesser of CPI or 2%)
$28,778,645
Expected PILOT Revenue (13-14) - 640,784
Available Carryover from Prior Year 0
TAX LEVY LIMIT (before exclusions) $28,137,861
Pension Exclusion: TRS +597,680 (2.41% of TRS salaries)
Capital Tax Levy (2013-14)
+405,239 (local share of debt)
MAXIMUM ALLOWABLE TAX LEVY $29,140,780
FOR SIMPLE MAJORITY APPROVAL 4.23%

Tax Increase Options
$50K $75K $100K $150K $200K
Tax
House House House House House
Incr $ Incr $ Incr $ Incr $ Incr $ Incr
No Star 18.09 27.14 36.19 54.28 72.37
2% Basic Star 7.09 16.14 25.19 43.28 61.37
Enhanced Star 0.00 6.14 15.19 33.28 51.37
No Star 27.14 40.71 54.28 81.42 108.56
3% Basic Star 16.14 29.71 43.28 70.42 97.56
Enhanced Star 0.00 19.71 33.28 60.42 87.56
No Star 36.19 54.28 72.37 108.56 144.74
4% Basic Star 25.19 43.28 61.37 97.56 133.74
Enhanced Star 0.00 33.28 51.37 87.56 123.74

Where that Gets us
Preliminary Budget Shortfall $(2,511,000)
Use of Prior Year Prepaid Expenses 1,200,000
Additional Tax Levy (from 2.0 to 2.9%) 250,000
Use of Retirement Reserve 215,000
Additional State Aid (???) 300,000
Shortfall (Use of Fund Balance) $ 546,000

3-Year Budget Projection
2013-14 2014-15 2015-16
Total Revenues $ 65,283,226 $ 66,591,141 $ 67,918,528
Salaries $ 27,846,546 $ 28,370,843 $ 29,009,187
Benefits 16,694,634 18,254,097 20,079,507
BOCES 9,754,715 10,377,276 10,896,140
Contractual/Supplies 5,948,606 6,070,193 6,204,796
Equipment 93,213 95,077 96,979
Debt Service 7,326,721 7,326,721 7,326,721
Interfund Transfers 130,000 135,000 135,000
Total Expenditures $ 67,794,435 $ 70,629,207 $ 73,748,330
Projected Deficit $ 2,511,209 $ 4,038,066 $ 5,829,802

Remaining Budget Timeline
• Public Workshop: March 19th
• Budget Recommendation: March 26th
• Adoption of Final Budget: April 9th
• Mailing of Budget Newsletter: May 7th
• Budget Hearing: May 14th
• Budget Vote: May 21st