Keyport Public Schools Budget 2018-2019 Budget Basics

What is a School Budget? The budget provides school districts an opportunity to justify the collection and expenditure of public funds. The budget is the district’s plan for the upcoming year as it relates to revenues and expenditures.

Family Budget

School Budget Very similar to a family budget, just on a much larger scale. There are hundreds of entry lines for appropriations and dozens of entry lines for revenues.

Major Appropriation Lines Total Regular Program Instruction Total Special Education Instruction Total Basic Skills/Bilingual Instruction CST Guidance Custodial and Maintenance Administration Co-curricular Activities Athletics

Major Appropriation Lines Summer School Out of District Tuitions Technology Utilities Transportation Employee Benefits

Major Appropriation Lines Pre-School Education Title I,II and III Programs Capital Projects Debt Service

Major Revenue Sources Local Tax Levy State Aid Tuition Federal Aid Solar Budgeted Fund Balance Reserves Debt Service Aid Enterprise Accounts

Balancing Act Revenues must equal Expenses. The budget must balance.

Challenge Increasing Expenses (Salaries, Benefits, Transportation, Insurances,Utilities,etc.) Flat or Decreasing Revenues Likely( State Aid and Federal Aid)

Debt Payments 2018-2019 Interest and Principal=$669,320 Roughly $670,000 through 2020 Then Roughly $370,000 through 2024

Anticipated Revenues and Expenses 2018-2019 2018-2019 Budget will be between $19 and $21 Million dollars* depending on factors that are still undetermined. Undetermined Revenues: State and Federal funding, use of reserves, tuition and tax increases. Undetermined Expenses: Capital projects, cost of benefits, etc. * Approximations

Pertinent Information Taxes can be increased 2% each year without requiring a public vote. 2% is approximately $188,000. We have another $208,000 available in banked cap. District Employee Salaries will increase by $269,954 (2.49%) in 2018-2019

Budget Calendar Might change ? ? Governor Murphy’s Budget Address has been pushed back. March 7th- Workshop- Budget Presentation with Revenue and Expenses March 14th- Regular- Approve Tentative Budget for County April 11th- Workshop- Final Review of Budget before Public Hearing April 25th- Regular Meeting- Public Hearing-Budget Adoption Sources report we should get State Aid numbers on March 15. This would force change in our budget calendar.

Thank You