Presentation on theme: "NEPTUNE CITY SCHOOL DISTRICT"— Presentation transcript:
1 NEPTUNE CITY SCHOOL DISTRICT BudgetPublic HearingNEPTUNE CITY SCHOOL DISTRICT
2 2014 – 2015 Budget FactsThe School Budget supports not only the elementary school, but tuition for high school students and out-of-district special education placements. Transportation is also budgeted for Vocational High School and Special Education Students.
3 2014 – 2015 PROJ. ENROLLMENT N.C. Elementary School 407 High School Students 180Mon Cty Vocational Schools 10Special Need Placement 18Charter School/St. FacilityTotal StudentsCharter 3, NHS 124, RBR 33
4 2014 – 2015 Budget N.C. Elementary School Maintains all current academic programsEliminates extra-curricular activitiesRetains Integrated Preschool Program and Full Day KindergartenAverage grade size is approx. 23.
5 2014 –2015 Revenues to Equal the Appropriations Revenues come from four sources:Fund Balance $ 609,556Tax Levy $5,566,358State Aid $2,159,028Miscellaneous revenues $ ,500TOTAL $8,369,442
6 STATE AIDGeneral State Aid was increased by 0.6% over last year. Over the last 10 years State Aid increased approximately $53,000 per year.This year we were awarded $12,100 more than last year.In addition, we will be applying for Extraordinary Aid and have anticipated receiving $120,000.
7 Revenue Comparison Total Revenues 2011-2012 $7,725,605 Increase $ 643,837
8 2014 – 2015 BUDGET HIGHLIGHTSIncreased cost of Special Needs Students sent to Out of District Placements;Significant increase in High School tuition due to the # of HS students and the rate per studentIncrease in Student Related ServicesIncrease in Health InsuranceDecrease in Administrative Expenses
9 2014 – 2015 Expenditures High School Costs Tuition – Public Schools $2,371,605- Tuition-Vocational HS ,000Transportation ,000Special Education Out of DistrictTuition & Services $1,431,406Transportation ,000Total Out of District Expenses $4,094,011
10 2011 – 2012 Expenditures High School Costs Tuition – Public Schools $1,533,886- Tuition-Vocational HS ,200Transportation ,000Special Education Out of DistrictTuition & Services $1,145,010Transportation ,000Total Out of District Expenses $3,069,096
11 2014 –2015 ExpendituresThe Board has little control over 95% of the Budget:Salaries ($2,611,900) and Benefits ($1,128,000) make up 45% of the budget;Tuition and Transportation for students sent out of district make up 48% of the budget;Utilities and Insurance account for almost 2%Operational and Educational Expenses make up the remaining 5%
12 Comparative Budgeting In the most recent report prepared by the NJ Dept. of Education, the Neptune City School District ranked as second lowest in the State for budgeted per pupil appropriations ($11,391.) for K-8 school districts.The State average for all districts is $14,506.
13 2014 Tax RateThe tax levy increase (excluding debt service payments) over is $211,658.Tax Levy for School Purposes was $5,354,700;Tax Levy is $5,566,358.Minimum Required Tax Levy per NJ Dept. of Education is $5,354,700.
14 Tax Levy CAPFor the school year, the State of NJ has imposed a 2% CAP with minor adjustments, on the allowable tax levy increase. This CAP imposes a maximum tax levy of $5,558,858.
15 Tax Rate - Calendar Year Average Assessed Value of a Home in Neptune City is $210,000.The total assessed valuation of the Borough decreased from $434,764,100 in 2013 to $432,338,868 in 2014.The average homeowner will see a $ annual increase in the school tax (exclusive of the debt service portion previously voted on and approved)
16 How is the Tax Rate for School Purposes Calculated? The Borough Tax Rate is set on a calendar year; the School District operates on a fiscal year-July 1st – June 30th.The Tax Rate for 2014 is made up of:School Year 2013/2014 General Fund Tax Levy and the Debt Service Tax divided by( the Borough’s Total Assessed Valuation divided by 100) 2014 Tax LevyGen'l FundDebt Service14-15 budget5,566,358535,261Calendar Year 2014 Tax Rate1.287.124
17 Future ImplicationsFund Balance - it is becoming highly unlikely that we can replenish the amount required by law to be anticipated as revenue to offset appropriations. The increase permitted in the tax levy will not be sufficient to offset the decrease in available fund balance in future budgets.
19 Will the community have an opportunity to speak at the Public Hearing? Yes, the public can ask questions prior to final adoptionWill all Art, Music and Spanish classes be removed from the curriculum?No, students will still receive Art, Music and Spanish. Teachers of these subjects will have non-instructional time removed from their schedules.
20 Are after school activities being cut? Yes, all “non-essential programs” have been cut from the budget in order to keep the instructional program consistent.If the district receives more Federal funds than anticipated can we use that to reinstate extra-curricular programs?No, Federal funding is expressly granted to provide services to special needs students.
21 How many students attend charter schools? Currently two. Anticipate three inHow much is the tuition to Neptune HS and Red Bank Regional?NHS $12, RBR $13,000Why is the Fund Balance declining?The mandate of the State of NJ is for a school district to utilize all fund balance in excess of 2% of appropriations or $250,000
22 Can we use more Fund Balance? Yes, but that would cause the district to have a more serious budget problem inWhy is the budget causing issues?The budget must be submitted balanced. Revenues must = Appropriations. Fund Balance accumulated from a prior year and anticipated in the current year is a revenue. The loss of Fund Balance cannot be made up by the allowable increase in tax levy.
23 Has “Pay-to-Play been considered for sports? Yes, the cost to each player would be quite large. Almost 50% of our enrollment is considered “low income” and may not be able to afford the payment.Why is the tax levy increasing by more than 2% if there is a “CAP”?There are some allowable modifications such as adjustments for enrollment that we were eligible for and utilized.
24 Has the Board looked into grants? Yes, we have applied for a few within the last couple years. We formed a consortium with our neighboring districts for a grant but were unsuccessful twice. We also have applied for a safety grant and just tonight approved the submission of another safety grant.
25 What does the future hold? We can assure you that our efforts to see that the children of Neptune City are provided with a quality education will continue to be ongoing.
26 Thank you for coming to the 2014-2015 Public Budget Hearing In accordance with the State Law, the budget is not required to be subject to a vote.Voting for Board of Education members will take place at the regular general election in November.