Bradley Beach Board of Education 2018-2019 Budget Presentation Tuesday April 24, 2018

Bradley Beach of Education 2018-2019 Budget Timeline   March 20: Preliminary Budget Adoption March 27: Executive County Superintendent Approval April 24: Public Hearing

Legislation Impacting 2018-2019 Budget The Tax levy Cap Law Limits the increase in the tax levy to 2% Automatic tax levy waivers are available to districts to increase their tax levy above 2% for such things as increase in enrollment, health benefits and utilization of bank cap

Banked Cap Allows a district to increase it’s tax levy more than 2% Districts that have not increased their tax levy in prior years to 2% can save (bank) the difference between the maximum 2% and the amount that the district did raise Bank Cap is available for three years after being created

2018-2019 Cap Banking Eligibility Generated in 2015-2016 Generated in 2016-2017 Generated in 2017-2018 Generated in 2018-2019 Bank Cap Available $0 $18,770 $80,555 Amount Expiring 2018-2019 Available Banked Cap Carried Forward Bank Cap Available in 2019-2020 $99,325

The 2018-2019 Budget Provides Commitment to the improvement of facilities, as we will have a bid on Stairwell #1 Further development and support of the One-to-One Program, as well as providing classroom teachers secondary supplies such as Elmos and projectors Commitment to the development of Writer’s Workshop through the purchase of materials and training Development of Reader’s Workshop through the purchase of materials and training Commitment to the ongoing Strategic Plan with the purchase of a new Math program, as well as the purchase of the second half of the Science program

The 2018-2019 Budget Provides (continued) Supporting the proposed goals for the Five Year Strategic Plan Facilities – Fixing stairwell #1. Purchases to continue to supply classrooms with Smart technology, as well as secondary technology Curriculum – Supports writing curriculum for Science, Language Arts, and Mathematics. Supports the development of new Science program supplies, new Math program, and development of Reader’s and Writer’s Workshop Maintains Small Class Sizes Maintains all athletics and arts program Maintains the expanded Pre-School program

State Aid Calculation 2018-2019 State Aid Categorical Special Education Aid $221,110 Categorical Security Aid 134,097 Categorical Transportation Aid 85,575 Adjustment Aid 652,777 Total 2018-2019 State Aid $1,093,559

General Fund Balance In essence the Board’s Savings Account Limited by law to the greater of $250,000 plus allowable adjustments or 2% of the general fund budget plus allowable adjustments Fluctuates from year to year

General Fund: Other Revenue and the Tax Levy Miscellaneous Revenue: $10,000 Tuition From Individuals: $15,250 Tax Levy: $5,977,008

2017-2018 Revised Revenues (as of 2/1/18) General Fund Revenues 2017-2018 Revised Revenues (as of 2/1/18) 2018-2019 Proposed Revenues State Aid $1,050,018 $1,093,559 Fund Balance 255,824 201,835 Unrestricted Miscellaneous Revenue 14,750 10,000 Tuition From Individuals 15,250 Adjustment for Prior Year Encumbrances 6,584 n/a Tax Levy 5,859,812 5,977,008 Total General Fund $7,202,238 $7,297,652

General Fund Appropriations 2017-2018 Revised Appropriations (as of 2/1/18) 2018-2019 Proposed Appropriations Total Current Expense $7,170,977 $7,271,490 Total Capital Outlay 31,261 26,162 Total General Fund $7,202,238 $7,297,652

Advertised Appropriations Description/Activity 2018-2019 Appropriations Regular Program $2,125,068 Special Education $30,010 Basic Skills $1,000 Bilingual Education $57,937 Co/Extra-Curricular Activities $41,602 School Sponsored Athletic Activities $42,880 Before/After School Program/Summer $30,230

Advertised Appropriations Description/Activity 2018-2019 Appropriations Tuition – Grades 9-12 and Special Education $1,930,708 Attendance and Social Work Services $59,060 Health Services $75,663 Student Related & Extraordinary $135,931 Child Study Team $272,291 Improvement of Instructional Services $111,717 Instructional Staff Training Service $8,000

Advertised Appropriations Description/Activity 2018-2019 Appropriations General Administration $285,153 School Administration $15,407 Central Service $172,542 Admin Info Technology $27,160 Operation & Maintenance $609,239 Transportation $257,441 Employee Benefits $982,451

Advertised Capital Outlay Appropriations Description/Activity 2018-2019 Appropriations Assessment on SDA Project $21,662 Equipment $3,500 Interest on Capital Reserve $1,000

Budget Summary Comparison 2017-2018 vs 2018-2019 $ Diff. General Fund Tax Levy $5,859,812 $5,977,008 $117,196 Assessed Valuation $1,151,140,100 $1,89,084,100 $37,944,000 General Fund Tax Rate per $100 of Assessed Value $0.5090 $0.5027 $(0.0063) Total School Tax Rate (General Fund & Debt) Per $100 of Assessed Value $0.5241 $0.5173 $(0.0068)

Tax Impact 2018-2019 Budget Annual Tax on a Home with the following: 2017-2018 Example 1 Example 2 2018-2019 Example 3 Difference Example 3 & 1 Example 3 & 2 Average Residential Assessment $520,121 $546,917 Using 18-19 average residential assessment $26,796 $0.00 Annual General Fund Tax $2,647.42 $2,783.81 $2,749.35 $101.93 $(34.46) Annual School Tax (General & Debt) $2,725.95 $2,866.39 $2,829.20 $103.25 $(37.19)

Budget Accomplishments Ensures fiscal responsibility, while addressing the needs of all students Begins the process of necessary facility upgrades Supports and further develops the One-to-One Program Continues the development and implementation of new curriculum Meets state mandates Provides for continued staff development Maintains current educational programs, athletics, and arts