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Solanco School District Preliminary 2014-15 Budget April 28, 2014.

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Presentation on theme: "Solanco School District Preliminary 2014-15 Budget April 28, 2014."— Presentation transcript:

1 Solanco School District Preliminary 2014-15 Budget April 28, 2014

2 2014-15 Revenue Budget Highlights Property Assessments: Low but steady growth Earned income tax recovering to pre- recession; 1.25 % estimated growth from 13- 14 to 14-15 (Est $80K) State Ready to Learn Grant ($431K) vs Basic Education Allocation ($0 proposed) – Total state revenues equate to Pension increase only Federal; Medical Assistance and Title I

3 2014-15 Expenditure Highlights Pension Increase: $1,086,000, which is 2.1% of the 3.04% total budget-to-budget increase Salaries: An Estimated 1% increase Special Education increase: Continued cost pressures; student services estimated at $400,000 increase Vocational Education: Total estimated increase at $98,000 inclusive of tuition and final bond issuance Physical Plant and Transportation: Fuels / Utilities

4 Assessment Growth: Estimated at just over ½ of 1%

5 Earned Income Tax: Slow Recovery

6 State Budget Pension and Ready to Learn Solanco Property Tax increase and Local share of mandated Pension Increase offset each other (Approx. $525,000) Total State Estimated Revenue covers the other ½ of the mandated Pension increase State Gambling funds remain static Est State Revenue Growth $835 M; Pension at $610 M. ----Plus Est $900 M in one time funds

7 Ready to Learn ABG money can be used for Ready to Learn initiatives, but Ready to Learn money can’t be used for ABG initiatives unless you are a Tier 4 District $100 Million of ABG funds (unchanged from 2013-14) $240 Million new proposed to be distributed to Districts and Charter Schools via formula. Approximately $221 million to Districts, $19 million to charters Proposing ability to deduct this grant on PDE-363 $1 million in competitive grant funds for Pennsylvania’s high-performing public schools to analyze and publish best practices that have proven to increase student achievement (Governor’s Expanding Excellence Grant Program)

8 Ready to Learn Permitted Uses by District SPP Score

9 Special Education After 6 years of flat-funding at $1.026 billion, the proposed budget recommends a $20 million increase to the line item, nearly a 2% increase.

10 Authority Rentals and Sinking Fund Requirements: The PlanCon line item was again level-funded at $296 million. PlanCon

11 Only One Third of Slot Machine Revenue Goes to Property Tax Relief

12 Act 1 Index Forecast Source: Independent Fiscal Office Analysis of Senate Bill 76 and House Bill 76 Fiscal YearSAWWECIAct 1 Base Index 2006-07 4.2%3.5%3.9% 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 History and Forecast of the Act 1 Base Index (and Components)

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