Lansing Central School District Budget Update December 9, 2013 Ms. Mary June King, Business Administrator 1

BUDGET DRIVERS TRS Increase: – rate =.1625 per dollar paid – Estimate is TRS rate will be between.1725 and.1775 per dollar paid – Budget Estimate at.1775 per dollar paid – 9.23% increase in rate: 1,493, ,553,169 (if no increase in rate) 1,493, ,696,538 (with rate increase to.1775) $ 203,224 increase is 0.77% increase from budget

BUDGET DRIVERS Health Insurance: – Average incr from 2000 = 8.08 % – Fund Balance challenges for consortium in current operations (large claims) – Consortium meeting in Jan 2014 will include discussion of rate increase for budget. - Current estimate at 8.00% premium rate increase $ 303,616 increase is 1.14% increase from total budget amount YEAR% INCREASE FROM PREV YR % % % % % % %

BUDGET DRIVERS Salaries: – Instructional Salaries increase: $ 369,390 equals approximately 1.39% of budget amount – Non-Instructional Salaries increase: $ 166,055 equals approximately 0.63% of budget amount

BUDGET DRIVERS TRS, Health Insurance, Salaries increases amount to approximately a $1M budget increase* This is a 3.93% increase budget to budget. Numbers that will help our planning: – TRS rate – Health insurance premium rate increase – BOCES budget finals

REVENUE DRIVERS Power Plant – Loss in value of $14M = loss in tax revenue of approx $290,000 (at tax rate) – With no budget increase and no change in other revenue sources, tax levy increase = 2.12% Other Revenue characters seem stable planned fund balance approp of $1,265,000 now projecting at $820,000

DECISION TIMELINES FOR BOE Best raw budget projection available in late January/early February Best revenue projection available in late January/early February February: Will need BOE to indicate funding choices Appropriations Levy/ Tax Rate Increase (Budget amount)

DISCUSSION