Lebanon Borough School 2013/2014 Budget Hearing March 21,2013
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Lebanon Borough School 2013/2014 Budget Hearing March 21,2013 Heather Spitzer-Business Administrator Tim O’Brien-Superintendent
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Lebanon Borough School 2013/2014 Budget Hearing March 21,2013. Heather Spitzer-Business Administrator Tim O’Brien-Superintendent. Budget Process 2013 . Needs based Priorities set by administration and BOE Mandates and Costs Savings & Revenue Enrollment Year Over Year Comparisons - PowerPoint PPT Presentation
Transcript of Lebanon Borough School 2013/2014 Budget Hearing March 21,2013
Lebanon Borough School2013/2014 Budget Hearing
March 21,2013
Heather Spitzer-Business AdministratorTim O’Brien-Superintendent
Budget Process 2013
• Needs based• Priorities set by administration and BOE• Mandates and Costs• Savings & Revenue• Enrollment • Year Over Year Comparisons• State Aid Summary• Tax Rate Calculations & Tax Impact
Needs & Goals
• Student Achievement
• Safety & Security
• Maintain community investment in Facilities
• Fiscal Responsibility
Unfunded Mandates
• PARCC (online testing)• Teacher & Principal
Evaluations• State Curricular
Changes with Mandated Timelines
• HIB
• Special Education Law and ADA compliance(504)- example: there is no funding for any 504 requirements.
Summary of 13-14 State Aid 12/13
State Aid13/14
State AidChange in State Aid
Transportation Aid 12,469
12,988 519
School Choice Aid
99,632
38,478 (61,154)
Special Education Aid 64,973
64,267 (706)
Security Aid
7,929
7,997 68
Adjustment Aid 61,273 61,273
185,003
185,003 0
Budget HighlightsFacility• Security System Upgrade• HVAC Project
Unfunded State Mandates• Staff and Student Information
System
• Teacher Evaluation System
Curriculum & Programs• Professional Development – New
CCCS• Instructional Hardware / Supporting
Technology• Benchmark Testing Preparation• Art – increase in time 1 day per week• Establish Gifted & Talented Program• After School Activities
Tax Impact
• Total Net Tax Levy decrease of ($96,038) or (4.62%).
• Tax decrease of ($8.40) per $100,000 of assessed home value OR (1.01%).
How to Calculate the Tax Rate:
2012/2013 BUDGET
2013/2014 PROJECTION
% CHANGE
ANNUAL INCREASE
(DECREASE)
TAX LEVY based on Proposed BudgetTax
RateTax
Rate
Tax Levy - General Fund $2,268,599 $0.83 $2,172,561 $0.79 4.62% ($96,038)
Tax Levy - Debt Service $0 $0.00 $0 $0.00 0% 0
TOTAL LOCAL SCHOOL TAX LEVY: $2,268,599 $2,172,561 (4.62%) ($96,038)
LOCAL SCHOOL TAX:* $0.83 $0.79 ($0.04)*per $100 of assessed valuation
ASSESSED VALUATIONS $272,346,679 $273,448,103 (4.62%) ($96,038)
*Local School Tax Levy/Assessed Valuations Source: Preliminary Equalization Table, County of Hunterdon for the year 2012
-0.00032
What does that tax rate calculation mean to me?
• The tax rate is based on average assessed property values. The average assessed property values have increased $1,101,424 or 0.40% and the tax levy has decreased ($96,038) or (4.62%) resulting in a tax saving per household.
• Example: 2012 House Value (Tax Assessment): $100,000• 2013 Home Value (Tax Assessment): $104,000 (.40% increase)• 2012 Tax Rate of 0.83 per $100 of assessed Values• 2013 Tax Rate of 0.79 per $100 of assessed Values
So• 2012 Property Tax Dollar Amount: $830.00 ($100K @ $0.83 rate)• 2013 Property Tax Dollar Amount: $821.60 ($104,000 $0.79 rate)• Actual Dollar Decrease: $8.40, or 1.01%
Questions & Thank You
Additional questions may be sent to the Superintendent, Mr. O’Brien at:[email protected]
