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COATESVILLE AREA SCHOOL DISTRICT 2014 – 2015 Preliminary Budget Dr. Leonard Fitts, Acting Superintendent Ronald Kabonick, Business Administrator Presented:

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Presentation on theme: "COATESVILLE AREA SCHOOL DISTRICT 2014 – 2015 Preliminary Budget Dr. Leonard Fitts, Acting Superintendent Ronald Kabonick, Business Administrator Presented:"— Presentation transcript:

1 COATESVILLE AREA SCHOOL DISTRICT 2014 – 2015 Preliminary Budget Dr. Leonard Fitts, Acting Superintendent Ronald Kabonick, Business Administrator Presented: January 14, 2014

2 It is all right to disagree with one another as long as we respectfully disagree with one another Regardless of socio-economic background, children have the ability to achieve It's less about the amount of money and more about the value system a child grows up in. Money doesn’t solve all of our problems

3 Resource of Information

4 Budget Requirements  Follow the Act 1 regulations  Adopt a budget by June 30, 2014  Follow PA Department of Education Regulations  Adopt the budget on the Required PDE Form PDE-2028

5 Understanding The Act 1 Index The base index is calculated by averaging the percent increases in the Pennsylvania statewide average weekly wage and the Federal employment cost index for elementary/secondary schools. Additionally, for school districts with a market value/personal income aid ratio (MV/PI AR) greater than , the value of their index is adjusted upward by multiplying the base index by the sum of 0.75 and their MV/PI AR. Coatesville = 2.1% x ( ) = 2.6%

6 Act 1 Index History

7 Preliminary Budget Assumptions Level funding of basic education and special education state subsidies PSERS rate increased of 4.5% No line item allowances for future bargaining agreements being negotiated Anticipated tax increase is included within the revenues Keystone To Opportunity Grant is not included

8 Funding The Budget

9 Revenue Sources

10 Where Does The Money Go?

11 Expenditures by Object

12 Services Provided

13 Future Challenges  Cost of Special Education Services  Funding of Charter Schools  Unfunded Mandates  Limited Resources  PA School Employees Retirement System

14 PA School Employee Retirement System (PSERS) Rate

15 PSERS Projections

16 Revenue Value of The Act 1 Index

17 Understanding The Anticipated Tax Increase How do I calculate the 2.6% anticipated tax increase? Current Mills Increase of 2.6% Total Mills What does this mean to the average taxpayer? Average AssessedPer $1,000 of Residential ValueAssessed Value $106,264.79$1,000 Mill0.001 Millage Increase Projected Median AV Tax Increase$86.18$0.81 Does a 2.6% tax increase mean my tax bill will increase by 2.6%?YES Without Tax Inc.With Tax Inc. Assess Value$106, Mill0.001 Millage Total Face Value of Tax Bill$3, $3, Tax Increase in Dollars $86.18 Tax Increase In Percentage ($86.18 / $3,314.68) 2.6%

18 Chester County School Districts

19 Budget Calendar

20 QUESTIONS AND CONCERNS?


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