GARWOOD BOARD OF EDUCATION Together Everyone Achieves More Annual Public Hearing on Proposed Budget for the 2017-2018 Fiscal Year May 2, 2017

Introduced Budget GENERAL FUND BUDGET $ 8,363,629 (Increase of $36,334) SPECIAL REVENUE $125,045 ($4,659) DEBT SERVICE $519,850 $1,450

Revenues 2016-17 2017-18 GENERAL FUND: Local Tax Levy $ 7,506,145 $ 7,506,145 $ 7,648,762 Tuition $ $ 15,057 Miscellaneous $ 45,500 $ 47,000 State Aid $ 517,799 $ 502,810 Fund Balance/Reserves $ 257,851 $ 150,000 TOTAL OPERATING BUDGET $ 8,327,295 $ 8,363,629 SPECIAL REVENUE (Grants) $ 129,704 $ 125,045 DEBT SERVICE: $ 518,400 $ 519,850 Fund Balances/Other Funds TOTAL DEBT SERVICE TOTAL REVENUE $ 8,975,399 $ 9,008,524

SOURCE OF REVENUE Local Tax Levy 90.7% $ 8,168,612 State Aid 5.6% $ 8,168,612 State Aid 5.6% $ 502,810 Fund Balance/Tuition Reserve 1.6% $ 150,000 Federal Grants 1.4% $ 125,045 Miscellaneous .7% $ 62,057 $ 9,008,524

State Aid State Aid Flat – no increase (excluding Extraordinary Aid) Assessment for SDA Grant payback 2016-17 2017-18 CHANGE State Aid $ 455,236 $ -0- Extraordinary Aid $ 62,563 $ 47,574 $ (14,989) SDA Assessment $ (29,677) $ (29,677) TOTAL STATE AID $ 488,122 $ 473,133

Appropriations 2016-17 2017-18 $ Change % Instruction $2,311,614 $2,336,393 $24,779 1.1% Tuition $2,669,846 $2,577,345 $(92,531) -3.5% Support Services $592,445 $607,391 $14,946 2.5% Administration $574,146 $588,916 $14,770 2.6% Facilities $694,773 $741,009 $46,236 6.7% Transportation $412,061 $376,675 $(35,386) -8.6% Benefits $1,072,380 $1,135,900 $63,520 5.9% TOTAL GF BUDGET $8,327,295 $8,363,629 $36,334 .4%

Instructional Highlights Continued alignment and mapping strategies for implementation of New Jersey Learning Standards Restructuring of the basic skills program to better address the needs of our student population IXL Program Read 180 Implementation of a three year cycle for middle school use of chrome books

Budgetary Per Pupil Costs The budgetary per pupil cost is considered the most comparable, most inclusive measure of comparison Garwood’s 15-16 pp cost is the 6th lowest of the 75 K-8 districts with 0 – 400 students (16-17 data not yet available) $ 15 - 16 K-8 State Median $ 15,570 cost per pupil 15 - 16 Garwood BOE K-8 $ 13,211 cost per pupil Difference ($ 2,359) LESS

Continuing Budget Efficiencies Garwood Borough: Custodial Services, Solid Waste disposal, and snow plowing assistance LEAs and Union County ESC: Special Education Services Clark BOE and Union County ESC: transportation coordination Purchasing Cooperatives: EdData and Middlesex Regional ESC, Energy purchasing through ACES Insurance Cooperatives – State Health Plan, Workers Compensation and Property/Casualty coverages Shared Business Administrator with Mountainside

School Year Tax Impact OPERATING BUDGET tax levy is below Cap – up $142,617 or 1.9% NO USE OF Banked CAP – additional $243,223 was available 2016-17 2017-18 $ CHANGE % CHANGE General Fund Tax Levy $ 7,506,145 $7,648,762 $ 142,617 1.90% Debt Service Tax Levy $ 518,400 $ 519,850 $ 1,450 .28% Total Tax Levy $ 8,024,545 $8,168,612 $ 144,067 1.79%

Calendar Year Tax Impact 2016 2017 $ CHANGE % CHANGE Total Tax Levy $ 7,978,023 $ 8,103,554 $ 125,531 1.57% Net Taxable Valuation $ 186,738,985 $ 186,801,557 $ 62,572 .03% Total Tax Rate 4.27% 4.34% .07%

2017 Tax Impact on Home Value Assuming Home Assessment = $100,000 Total School Tax Levy = $4,338 Increase from Prior Year = $66

Future Considerations Cost Growth in Excess of 2% tax levy cap Chapter 78 Health Benefits Contributions have Capped Out