Central Dauphin School District · 5/22/2017 · Central Dauphin School District 2017-2018 Budget...
Transcript of Central Dauphin School District · 5/22/2017 · Central Dauphin School District 2017-2018 Budget...
CentralDauphinSchoolDistrict2017-2018BudgetPresenta<on#14
May22,2017
2017-2018BudgetTimeline Approve the Resolution NOT to exceed 2.9% tax increase (no later than 1/26/2017)
Adopt the BALANCED Preliminary Final Budget (no later than 5/31/2017)
Adopt the Final Budget (no later than 6/30/2017)
PosttheProposedPreliminaryBudgetwithataxincreaseincludingavailableexcep<ons(1/26/2017)
Adver<seano<ceofintenttoadoptthePreliminaryBudgetANDano<cetoseekreferendumexcep<onsfromPDE(nolaterthan10dayspriortoadop<on)
ApprovethePreliminaryBudgetwithataxincreaseincludingexcep<ons(nolaterthan2/15/2017)
NO
YES
2017-2018BudgetTimeline Approve the Resolution NOT to exceed 2.9% tax increase (no later than 1/26/2017)
Adopt the BALANCED Preliminary Final Budget (no later than 5/31/2017)
Adopt the Final Budget (no later than 6/30/2017)
PosttheProposedPreliminaryBudgetwithataxincreaseincludingavailableexcep<ons(1/26/2017)
Adver<seano<ceofintenttoadoptthePreliminaryBudgetANDano<cetoseekreferendumexcep<onsfromPDE(nolaterthan10dayspriortoadop<on)
ApprovethePreliminaryBudgetwithataxincreaseincludingexcep<ons(nolaterthan2/15/2017)
NO
YES
2017-2018BudgetTimeline Approve the Resolution NOT to exceed 2.9% tax increase (no later than 1/26/2017)
Adopt the BALANCED Preliminary Final Budget (no later than 5/31/2017)
Adopt the Final Budget (no later than 6/30/2017)
PosttheProposedPreliminaryBudgetwithataxincreaseincludingavailableexcep<ons(1/26/2017)
Adver<seano<ceofintenttoadoptthePreliminaryBudgetANDano<cetoseekreferendumexcep<onsfromPDE(nolaterthan10dayspriortoadop<on)
ApprovethePreliminaryBudgetwithataxincreaseincludingexcep<ons(nolaterthan2/15/2017)
NO
YES
2017-2018BudgetTimeline Approve the Resolution NOT to exceed 2.9% tax increase (no later than 1/26/2017)
Adopt the BALANCED Preliminary Final Budget (no later than 5/31/2017)
Adopt the Final Budget (no later than 6/30/2017)
PosttheProposedPreliminaryBudgetwithataxincreaseincludingavailableexcep<ons(1/26/2017)
Adver<seano<ceofintenttoadoptthePreliminaryBudgetANDano<cetoseekreferendumexcep<onsfromPDE(nolaterthan10dayspriortoadop<on)
ApprovethePreliminaryBudgetwithataxincreaseincludingexcep<ons(nolaterthan2/15/2017)
NO
YES
BudgetPressures
Pension
SpecialEduca<on EnglishasaSecondLanguage
HomelessStudentsPoverty
LackofStateFunding
UncertaintyinFederalFunding
Popula<onGrowth
AidRa<oComparison
0.3000
0.3200
0.3400
0.3600
0.3800
0.4000
0.4200
1994-1995
1995-1996
1996-1997
1997-1998
1998-1999
1999-2000
2000-2001
2001-2002
2002-2003
2003-2004
2004-2005
2005-2006
2006-2007
2007-2008
2008-2009
2009-2010
2010-2011
2011-2012
2012-2013
2013-2014
2014-2015
2015-2016
2016-2017
MarketValueAidRa<o PersonalIncomeAidRa<o
MarketValue/PersonalIncomeAidRa<o
0.3000
0.3200
0.3400
0.3600
0.3800
0.4000
0.4200
1994-1995
1995-1996
1996-1997
1997-1998
1998-1999
1999-2000
2000-2001
2001-2002
2002-2003
2003-2004
2004-2005
2005-2006
2006-2007
2007-2008
2008-2009
2009-2010
2010-2011
2011-2012
2012-2013
2013-2014
2014-2015
2015-2016
2016-2017
AidRa<os
• MarketValueAidRa<o2014-2015 0.34942015-2016 0.35412016-2017 0.3907
• PersonalIncomeAidRa<o2014-2015 0.40752015-2016 0.43152016-2017 0.4467
AidRa<os
• MV/PIAidRa<o–UsedtocalculateAct1Index2014-2015 0.37262015-2016 0.38502016-2017 0.4130
TotalPopula<onIncrease
10400
10600
10800
11000
11200
11400
11600
StudentEnrollment Year Population Variation
2011-2012 10,8312012-2013 10,946 1152013-2014 10,916 -302014-2015 11,059 1432015-2016 11,285 2262016-2017 11,491 206
TotalGrowth 660TotalGrowthasaPercentage 6.1%
PDEProjec<onsDataReleased07/2012
Year PDEProjections CDSDActual Variance Variance(%)2011-2012 10,637 10,831 194 1.8%2012-2013 10,716 10,946 230 2.1%2013-2014 10,810 10,916 106 1.0%2014-2015 10,976 11,059 83 0.8%2015-2016 11,139 11,285 146 1.3%2016-2017 11,299 11,491 192 1.7%2017-2018 11,4652018-2019 11,6632019-2020 11,8342020-2021 12,0292021-2022 12,237
SpecialEduca<on
100011001200130014001500160017001800
StudentEnrollment Year Population Variation
2011-2012 1,3672012-2013 1,468 1012013-2014 1,412 -562014-2015 1,501 892015-2016 1,633 1322016-2017 1,756 123
TotalGrowth 389TotalGrowthasaPercentage 28.5%
SpecialEduca<on
$15
$17
$19
$21
$23
$25
$27
$29
Millions
SpecialEduca<onExpendituresYear
TotalExpenditures Variance
2011-2012 18,079,758$2012-2013 20,231,043$ 11.9%2013-2014 22,544,017$ 11.4%2014-2015 25,168,947$ 11.6%2015-2016 27,969,012$ 11.1%
EnglishasaSecondLanguage
350380410440470500530560590620
StudentEnrollment Year Population Variation
2011-2012 4062012-2013 420 142013-2014 434 142014-2015 485 512015-2016 497 122016-2017 607 110
TotalGrowth 201TotalGrowthasaPercentage 49.5%
HomelessStudents
0
20
40
60
80
100
120
140
StudentEnrollment Year Population Variation
2012-2013 472013-2014 80 332014-2015 119 392015-2016 127 82016-2017 120 -7
TotalGrowth 73TotalGrowthasaPercentage 155.3%
PSERSEmployerContribu<onRate
0
5
10
15
20
25
30
35
40
45
2000-01
2001-02
2002-03
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
2013-14
2014-15
2015-16
2016-17
2017-18
2018-19
2019-20
2020-21
2021-22
2022-23
2023-24
2024-25
2025-26
FederalFunding• CutstoSupplementalNutri<onAssistanceProgram(SNAP)– ≈$193billionover10years;morethana25%cut– Currently42millionpeopleareeligible– CutstothisprogramwillflowthroughtotheCommunityEligibilityProgramfor12schools;thefutureofthisprogramremainsindoubt,butweareproceeding
• CutstoMedicaid– ≈$800billioncutinsubsidy– Costsshidedtostates
19
20
(AIE=AverageInstruc<onalExpense)
PSERSEmployerContribu<onRate
• Fiscalyear2000-01• PSERSemployercontribu<onratewas1.9%ofgrosswages
• $77milliongrosswages• ≈$1,400,000CDSDcontribu<ontoPSERS
PSERSEmployerContribu<onRate
• Fiscalyear2000-01• PSERSemployercontribu<onratewas1.9%ofgrosswages
• $77milliongrosswages• ≈$1,400,000CDSDcontribu<ontoPSERS
• Fiscalyear2017-18• PSERSemployercontribu<onratewas32.57%ofgrosswages
• $77milliongrosswages• ≈$25,000,000CDSDcontribu<ontoPSERS
Source:June30,2016PSERSActuarialValua<on
HistoryandProjec<onofContribu<onRatesandFundedRa<os
PSERSStabiliza<onAccount
• 2013-14 $1,726,907• 2014-15 $3,417,059• 2015-16 $3,423,376• 2016-17 $3,078,448• 2017-18 $2,884,962
• TotalAmountfromStabiliza<on$14,530,752
EnergySavings
Electricsavings $3,576,040Naturalgassavings 1,041,900Water/Sewersavings199,069Totalsavings $4,817,009
SWAPTransac<ons
• 2009-10 $566,009• 2010-11 $699,474• 2011-12 $764,214• 2012-13 $804,795• 2013-14 $785,283• 2014-15 $1,418,089
• TotalEarningsonSWAPs $5,037,864• TotalAmountavailableforuse $3,686,009
DebtRefinancing
Series2016:NPVSavings=$11,941,860(16.1%oftheprincipalrefunded)
Series2016A:NPVSavings=$2,071,431(6.8%oftheprincipalrefunded)
TotalSavings=$14,013,291
DebtRefinancing
DebtService/SWAPStrategy
0
2000000
4000000
6000000
8000000
10000000
12000000
14000000
16000000
DebtService/SWAPStrategy
0
2000000
4000000
6000000
8000000
10000000
12000000
14000000
16000000 • ApplyingtheuseoftheSWAPsavingstosmoothannualdebtservicepaymentsun<ltheydropin2020-21– $1,185,000– $1,250,000– $1,250,000
DebtService/SWAPStrategy
0
2000000
4000000
6000000
8000000
10000000
12000000
14000000
16000000
0
2000000
4000000
6000000
8000000
10000000
12000000
14000000
16000000
FundsGenerated
EarningsonSWAPs $5,037,864EnergySavings $4,817,009PSERSStabiliza<on $14,530,752DebtRefinancing $14,013,291TotalFundsGenerated $38,398,916
MillageRateHistory
Year Millage Increase
2008-2009 13.5480 0.00%2009-2010 13.8600 2.30%2010-2010 13.8600 0.00%2011-2012 13.8600 0.00%2012-2013 14.3173 3.30%2013-2014 14.3173 0.00%2014-2015 14.6008 1.98%2015-2016 14.8622 1.79%2016-2017 15.2188 2.40%
Avg Tax Increase 1.30%
10
11
12
13
14
15
16
Millage15YearHistory
TaxIncrease
Baserealestatetaxmillage 15.2188Act1Index 2.90%SpecialEduca<on2.43%PSERS .57%TotalTaxIncrease5.90%Proposedrealestatetaxmillage 16.1160
TaxIncrease
• MedianAssessedValue(May1,2017)-$116,100
• Homeassessedvalue$150,000at5.89%– $134.58peryear– $11.22permonth
Ques<ons