1. Keyport Public Schools Budget 2018-2019 Budget Basics

2. 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.

3. Family Budget

4. 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.

5. 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

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

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

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

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

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

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

12. Anticipated Revenues and Expenses 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

13. 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

14. 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.

15. Thank You