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DELANCO BOARD OF EDUCATION BUDGET HEARING MARCH 24, 2011 7:30 P.M.

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Presentation on theme: "DELANCO BOARD OF EDUCATION BUDGET HEARING MARCH 24, 2011 7:30 P.M."— Presentation transcript:

1 DELANCO BOARD OF EDUCATION BUDGET HEARING MARCH 24, :30 P.M.

2 SCHOOL BUDGET TOTAL OPERATING BUDGET increased by $25,463 General Fund Tax levy Increased By $ 108,415 [State mandated cap of 2%] State Aid increase of $83,545

3 SURPLUS SHORTFALL SURPLUS BUDGETED IN = $706,824 SURPLUS BUDGETED IN = $561,728 SURPLUS BUDGETED IN = $318,382 SURPLUS SHORTFALL = $243,346 Surplus Taken By State During school year = $ 650,049

4 Operating Budget up $ 25K / Tax Levy up $108K How Does That Happen?? Surplus Shortfall = $ 243,346 State Aid Increase = - $ 83,545 Sub-total $159,801 Federal Ed Jobs Aid = - $ 76,290 Sub Total $ 83,511 Operating Budget Increase = + $ 25,463 Miscellaneous Revenue changes = - $ 559 Tax Levy increase = $108,415

5 INCREASES / DECREASES Increases Special Education Tuition Fuel costs Health Benefits costs Math textbooks [WSS] CST/OT/PT costs\ BCIT Tuition Decreases 1.5 Teaching positions Riverside tuition Teaching supplies frozen General Administration

6 SPECIAL EDUCATION TUITION Twenty-four students [K-12] are in out-of- district placements Tuitions range from $13,500 to $ 52,500 Schools include Public schools, Private Schools and Special Services School Total budgeted for = $875,986 Almost 10 % of total district budget

7 RATABLES ?? RATABLES ARE THE TOTAL ASSESSED VALUE OF DELANCO. IF RATABLES GO UP THE TAX RATE GOES DOWN. IF RATABLES GO DOWN THE TAX RATE GOES UP

8 RATABLES EXAMPLE District tax levy =approx $5,900,000 If ratables are 500,000,000 then tax rate is $ 1.18 per hundred of assessment On a $200,000 house tax would be $2360 Same budget with ratables of 492,000,000 the tax rate is $ 1.20 Same $200,000 house would pay $2400

9 Tax Impact of Budget Township ratables reduced by $7,720,907 Tax rate increase 4.6 cents per hundred Increase if ratables were stable= 2.8 cents/hundred Impact on home assessed at; $200,000 = $92.49/yr [$7.71/ mo] $239,500 = $110.76/yr [$9.23/mo] $250,000 = $115.61/yr [$9.63/mo]

10 BUDGET SUMMARY

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12 WHAT HAPPENS NEXT ELECTION HELD ON Wednesday, APRIL 27 TH FROM 2:00 TO 9:00 P.M. IF BUDGET PASSES REDUCTIONS and INCREASES STAND IF BUDGET FAILS – Township Committee has option to make further reductions


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