COATESVILLE AREA SCHOOL DISTRICT 2014 – 2015 Preliminary Budget Dr. Leonard Fitts, Acting Superintendent Ronald Kabonick, Business Administrator Presented: January 14, 2014
It is all right to disagree with one another as long as we respectfully disagree with one another Regardless of socio-economic background, children have the ability to achieve It's less about the amount of money and more about the value system a child grows up in. Money doesn’t solve all of our problems
Resource of Information
Budget Requirements Follow the Act 1 regulations Adopt a budget by June 30, 2014 Follow PA Department of Education Regulations Adopt the budget on the Required PDE Form PDE-2028
Understanding The Act 1 Index The base index is calculated by averaging the percent increases in the Pennsylvania statewide average weekly wage and the Federal employment cost index for elementary/secondary schools. Additionally, for school districts with a market value/personal income aid ratio (MV/PI AR) greater than , the value of their index is adjusted upward by multiplying the base index by the sum of 0.75 and their MV/PI AR. Coatesville = 2.1% x ( ) = 2.6%
Act 1 Index History
Preliminary Budget Assumptions Level funding of basic education and special education state subsidies PSERS rate increased of 4.5% No line item allowances for future bargaining agreements being negotiated Anticipated tax increase is included within the revenues Keystone To Opportunity Grant is not included
Funding The Budget
Revenue Sources
Where Does The Money Go?
Expenditures by Object
Services Provided
Future Challenges Cost of Special Education Services Funding of Charter Schools Unfunded Mandates Limited Resources PA School Employees Retirement System
PA School Employee Retirement System (PSERS) Rate
PSERS Projections
Revenue Value of The Act 1 Index
Understanding The Anticipated Tax Increase How do I calculate the 2.6% anticipated tax increase? Current Mills Increase of 2.6% Total Mills What does this mean to the average taxpayer? Average AssessedPer $1,000 of Residential ValueAssessed Value $106,264.79$1,000 Mill0.001 Millage Increase Projected Median AV Tax Increase$86.18$0.81 Does a 2.6% tax increase mean my tax bill will increase by 2.6%?YES Without Tax Inc.With Tax Inc. Assess Value$106, Mill0.001 Millage Total Face Value of Tax Bill$3, $3, Tax Increase in Dollars $86.18 Tax Increase In Percentage ($86.18 / $3,314.68) 2.6%
Chester County School Districts
Budget Calendar
QUESTIONS AND CONCERNS?