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1 EATONTOWN BOARD OF EDUCATION 2007 – 2008 BUDGET PRESENTATION Monday, March 26, 2007.

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Presentation on theme: "1 EATONTOWN BOARD OF EDUCATION 2007 – 2008 BUDGET PRESENTATION Monday, March 26, 2007."— Presentation transcript:

1 1 EATONTOWN BOARD OF EDUCATION 2007 – 2008 BUDGET PRESENTATION Monday, March 26, 2007

2 2 MISSION STATEMENT Eatontowns vision and mission is to develop a community of lifelong learners where children have healthy self-esteem, respect and compassion for others (Contd)

3 3 MISSION STATEMENT (continued) essential and technical knowledge, and the creative problem-solving skills needed to meet the challenges of successful citizen in an ever changing multi-cultural global society. essential and technical knowledge, and the creative problem-solving skills needed to meet the challenges of successful citizen in an ever changing multi-cultural global society.

4 4 Eatontown Board of Education 2007-2008 Timeline DatesActivity March 12 March 13 March 26 – 7:30 PM April 17 Preliminary Budget Adoption Meeting with Municipal Body Rep. Public Hearing School Budget/Board Election

5 5 New Legislation Impacting 2007-2008 Budget Assembly Bill – 1 The Tax Levy Cap Law Limits the increase in the tax levy to 4% Automatic and Commissioner Approved tax levy adjustments Allows for the creation of a Current Expense Emergency Reserve Account (contd) (contd)

6 6 New Legislation Impacting 2007-2008 Budget Assembly Bill – 1 The Tax Levy Cap Law Some loosening of surplus restrictions Allows for no tax levy cap adjustment for non- recurring revenue for 2007-2008 New rule changes for second ballot (above cap) questions

7 7 Tax Levy Cap Calculation 2006-07 Tax Levy $12,689,970.00 Less 2006-2007 Capital Outlay Cap Adjustment $ 0 Pre-Budget year Tax Levy $12,689,970.00 Pre-Budget year adjusted Tax Levy inflated by 4% $13,197,569.00

8 8 The 2007-2008 Budget Provides For: The 2007-2008 Budget Provides For: Strong academic programs based on the State Core Curriculum Content Standards Professional growth and development of the teaching staff Hiring of additional personnel: one basic skills teacher, one van driver and van aide, four part-time office aides Implementation of the following new curricula: 1. Language Arts Literacy 1. Language Arts Literacy 2. Visual & Performing Arts 2. Visual & Performing Arts 3. Comprehensive Health & 3. Comprehensive Health & Physical Education Physical Education

9 9 The 2007-2008 Budget Provides (Continued) Funding for the 2 nd of a 4 year lease/purchase of 300 notebook computers Programs to meet special and individual student needs Purchase of a new 16 passenger/two wheelchair & lift handicapped van Continuation of the 3 & 4 year-old Preschool Program Building improvements and upkeep

10 10 Major Factors Impacting Tax Levy Personnel Insurance Increases: a) Medical b) Property/Casualty Energy Capital Equipment

11 11 General Fund Revenues 2006-2007 Original Revenues 2007-2008 Proposed Revenues State Aid $3,817,049$3,933,576 Impact Aid $400,000250,000 Fund Balance $488,457$1,112,720 Unrestricted Miscellaneous Revenue $112,120$112,120 Tax Levy $12,689,970$13,197,569 Total General Fund $17,507,596$18,605,985

12 12 General Fund State Aid A 3% increase ($116,527) in general fund state aid Additional Targeted At Risk Aid (TARA) in the amount of $143,500 will be provided to the district upon submission of an application/program implementation plan This new additional aid, by state directive can not be utilized for tax relief in the 2007-2008 budget (Contd)

13 13 General Fund State Aid 2006-20072007-2008 Transportation Aid $301,183$301,183 Special Education Aid $972,177$972,177 Bilingual Education $35,058$35,058 Consolidated Aid $126,851 $126,851 Stabilization Aid $2,381,780$2,381,780 Additional Formula Aid $0$116,527 Total$3,817,049$3,933,576

14 14 General Fund Balance: What Is It? In essence the Boards Savings Account Limited by law to the greater of $250,000 or 2% of the general fund budget Fluctuates from year to year

15 15 General Fund: Other Revenues and the Tax Levy Investment Income: $112,120 Tax Levy: $13,197,569 This is the amount residents vote upon April 17, 2007

16 16 General Fund Revenue

17 17 General Fund Appropriations 2006-2007 Original Appropriations 2007-2008 Proposed Appropriations Total Current Expense $17,302,131$18,483,965 Total Capital Outlay $205,465$122,020 Total General Fund $17,507,596$18,605,985

18 18 Advertised Appropriations Instruction 2007– 2008 Appropriations Regular Program $6,216,995 Special Education $1,413,784 Basic Skills/Remedial $530,362 Bilingual Education $113,550 Co/Extra-Curricular Activities & School Sponsored Athletic Activities $140,818

19 19 Advertised Appropriations Continued 2007-2008 Appropriations Tuition – Grades K-8 and Special Education $578,984 Other Support Services- Guidance $ 165,120 Health Services $265,792 Other Support Services- Regular Education-e.g.. Speech Svcs. $337,411 $337,411 Other Support Services –Special Education $683,998 Improvement of Instructional Services $133,200 Educational Media Services $472,864

20 20 Advertised Appropriations Continued 2007 -2008 Appropriations Instructional Staff Training $56,840 General Administration $581,754 School Administration $700,015 Central Service & Admin Info Technology $440,641 Operation & Maintenance $1,894,597 Transportation$1,083,713 Emergency Reserve $77,625 Employee Benefits $2,595,902

21 21 Breakdown of Employee Benefits Category 2007 -2008 Appropriations PERS Social Security Contributions $127,355 PERS Pension Contribution $45,800 Workmens Compensation $101,346 Health Benefits $2,211,901 Tuition Reimbursement $40,000 Other$69,500 Total Employee Benefits $2,595,902

22 22 Salaries and Benefits Salaries and Benefits represent 72.2% of the 2007-2008 Tentative Budget

23 23 2007 -2008 Proposed Capital Outlay Appropriations - Equipment School/DepartmentDescription $ Amount Memorial Middle School Electric Piano $2500 Woodmere Elementary Cafeteria Tables $34,400 Curriculum Program Learning Centers-LAL $15,000 Transportation 16 pass./2 wheelchair lift handicapped van $55,000 Facilities Grounds Equipment-Toro tractor/mower $15,000

24 24 How Are My Tax Dollars Spent? Instructional & Instructional Support Programs Include: I. Salaries Of our instructional personnel including teachers, nurses, aides, etc. This category also includes staff development, library books, textbooks. Teaching supplies, as well as tuition for our out-of district placements and K-8 regular ed students Other Support includes: I. School/Central Administration, operation and maintenance of school facilities, transportation costs, employee health benefits, and capital outlay Total General Fund Budget $18,605,985

25 25 Budget Summary Comparison 2006-2007 vs. 2007-2008 Original 2006- 2007 Proposed 2007- 2008 $ Diff. General Fund Tax Levy $12,689,970$13,197,569$507,599 Assessed Valuation $2,634,312,382 Revaluation Year $2,490,880,992$(143,431,390) General Fund- Tax Rate: Per $100 of Assessed Value $0.4820$0.5298$0.0478*$0.019 *This would be the increase in the tax rate if there was no change in assessed valuation

26 26 Tax Impact- Proposed 2007-2008 Budget Annual Tax on a Budget Year Increase Home with the following: 2006-20072007-20082007-2008 Average Residential Assessment $399,055$399,055 Annual Tax $1,923.45$2,114.19$190.75/year$15.90/month Annual Tax with no change in the assessed valuation $1,923.45$1,999.27$75.82/year$6.32/month

27 27 Calculating Your Taxes (Assessed Value / 100) X School Tax Rate Example using average residential assessment: ($399,055 / 100) X.5298 Equals $2,114.19

28 28 Budget Accomplishments Reasonable, Fiscally Responsible, while addressing the needs of all students Maintains current educational and extra/co-curricular programs Continues the implementation of new curriculum Meets state mandates Provides needed staff/development Progress towards completing projects in the districts Long Range Facilities Plan and 3 Year Comprehensive Maintenance Plan

29 29 Annual School Election Polling Places Polling Districts Community Center 1 & 2 *St. Dorotheas 3, 4, & 9 Memorial School 5 & 6 * Eatontown Library 7 & 8 The Annual School Election will be held on Tuesday, April 17, 2007 between the hours of 3:00 pm and 9:00pm., prevailing time, as follows: * The polling locations for Districts 3,4,9, 7 & 8 have been changed.

30 30 Please Continue To Support Our Children…Vote on April 17th Eatontown School District


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