2018-19 Budget Planning February 14, 2018 Board of Education meeting

Estimated Expenditures vs. Revenue Adopted Budget Budget - Proposal Dollar Per Cent 2017-18 2018-19 Change Rollover Tentative Estimated Expenditures $69,511,563 $71,408,126 $0 $1,896,563 2.73% Repair Reserve $1,045,000 Estimated Revenue Other Revenue $1,565,000 $1,479,000 ($86,000) -5.50% Other Tax Items $2,573,346 $2,651,240 $77,894 3.03% State Aid $45,221,643 $46,735,643 $1,514,000 3.35% Tax Levy $20,875,122 0.00% Total Est. Revenue & Tax Levy $70,235,111   $71,741,005 $1,505,894 2.14% Expenditures over Revenue $321,452 ($332,879) Appropriated Fund Balance Remaining shortage /(overage)

Tax Levy Limit (Property Tax Cap) Must follow an eight-step formula determined by New York state Result of the formula determines the amount that property taxes can increase/decrease, setting a threshold for voter approval If tax increase is less than or at the tax cap threshold amount, budget passes with 50% or more of the voters voting “yes” If tax increase is greater than the threshold amount, budget passes with 60% or more of the voters voting “yes” If budget is ultimately defeated, no increase in the tax levy is permitted

2018-19 GASD Tax Levy Limit Calculation PRIOR YEAR TAX LEVY:   $ 20,875,122 DISTRICT TAX BASE GROWTH FACTOR: x 1.0242 PILOTS RECEIVABLE - PRIOR YEAR: + $ 2,261,833 TAXES LEVIED FOR EXEMPTIONS DURING PRIOR YEAR: CAPITAL EXPENDITURES NET OF STATE AID - $ 209,478 ALLOWABLE TAX LEVY GROWTH FACTOR (2% OR CPI): 1.0200 SUBTOTAL GROWTH ADJUSTED TAX LEVY = $ 23,901,308 PILOTS RECEIVABLE - COMING YEAR: $ 2,313,741 AVAILABE CARRYOVER FROM PRIOR YEAR (Computed as a maximum of 1.5% of prior year text levy limit, and only applicable if the district levied a tax less than the prior year's tax levy limit, not the district's maximum allowable tax levy) $ - TAX LEVY LIMIT: $ 21,587,567 EXEMPTIONS FOR PENSION COST INCREASES: COMING SCHOOL YEAR CAPITAL EXEMPTIONS: $ (295,937) MAXIMUM ALLOWABLE TAX LEVY AMOUNT $ 21,291,630 INCREASE(DECREASE) FROM PRIOR YEAR LEVY $ 416,507 PERCENTAGE 2.00%

Proposed 2018-19 Revenue Budget   2017-2018 Budget 2018-2019 Proposed Change Local Sources $ 1,465,000 $ 1,379,000 -5.9% Interfund Transfers $ - $ - 0.0% State Aid & Medicaid $ 43,279,438 $ 46,835,643 8.2% Payment in Lieu of Taxes $ 2,235,846 $ 2,313,740 3.5% Other Property tax items $ 337,500 $ 337,500 Property Taxes (Tax Levy) $ 20,875,122 $ 20,875,122 Appropriated Fund Balance $ 596,069 -100.0% Total $ 68,788,975 $ 71,741,005 4.3%

Revenue at a glance

Proposed 2018-19 Expense Budget 2018-2019 Expenditures at a Glance   2017-2018 Proposed 2018-2019 Proposed Change Salaries (professional) $ 23,831,344 $ 24,750,181 3.9% Salaries (support) $ 5,005,410 $ 5,219,801 4.3% Employee benefits $ 16,310,165 $ 17,153,224 5.2% Equipment $ 76,005 $ 76,005 0.0% Supplies & textbooks $ 1,208,531 $ 1,294,942 7.2% Contract Services $ 6,800,227 $ 6,833,129 0.5% BOCES Services $ 8,313,934 $ 8,545,381 2.8% Debt Service $ 7,578,944 $ 7,345,463 -3.1% Interfund transfers $ 190,000 $ 190,000 Total $ 69,314,560 $ 71,408,126 3.0%

Expenditures at a glance

Pension Contribution Rates Teachers Retirement System (TRS) is projecting rates will increase from 9.8% of salaries to 10.5-11% in 2018-19 Employees Retirement System (ERS) rate will decrease from 15.3% of salaries to 14.9% in 2018-19. No TRS or ERS exclusions in the tax cap calculations.

Some final thoughts The budget will be driven by the GASD Theory of Action, as presented by the Superintendent Primary focus for the 2018-2019 school year is to ensure an academic and supportive environment. Waiting for information from the Legislators and Governor Cuomo.

Next steps Budget presentation posted on website Next BOE meeting is Wednesday, March 21, 6 p.m. Wednesday, April 18: Board will vote on tentative proposed budget Tuesday, May 1: Public hearing Tuesday, May 15: Annual Budget Vote and BOE Election

Questions