Solanco School District Preliminary 2014-15 Budget April 28, 2014
description
Transcript of Solanco School District Preliminary 2014-15 Budget April 28, 2014
![Page 1: Solanco School District Preliminary 2014-15 Budget April 28, 2014](https://reader034.fdocuments.us/reader034/viewer/2022051622/56815107550346895dbf2655/html5/thumbnails/1.jpg)
Solanco School DistrictPreliminary 2014-15 Budget
April 28, 2014
![Page 2: Solanco School District Preliminary 2014-15 Budget April 28, 2014](https://reader034.fdocuments.us/reader034/viewer/2022051622/56815107550346895dbf2655/html5/thumbnails/2.jpg)
2014-15 Revenue Budget Highlights
• Property Assessments: Low but steady growth• Earned income tax recovering to pre-
recession; 1.25 % estimated growth from 13-14 to 14-15 (Est $80K)
• State Ready to Learn Grant ($431K) vs Basic Education Allocation ($0 proposed)– Total state revenues equate to Pension increase
only• Federal; Medical Assistance and Title I
![Page 3: Solanco School District Preliminary 2014-15 Budget April 28, 2014](https://reader034.fdocuments.us/reader034/viewer/2022051622/56815107550346895dbf2655/html5/thumbnails/3.jpg)
2014-15 Expenditure Highlights• Pension Increase: $1,086,000, which is 2.1% of
the 3.04% total budget-to-budget increase• Salaries: An Estimated 1% increase • Special Education increase: Continued cost
pressures; student services estimated at $400,000 increase
• Vocational Education: Total estimated increase at $98,000 inclusive of tuition and final bond issuance
• Physical Plant and Transportation: Fuels / Utilities
![Page 4: Solanco School District Preliminary 2014-15 Budget April 28, 2014](https://reader034.fdocuments.us/reader034/viewer/2022051622/56815107550346895dbf2655/html5/thumbnails/4.jpg)
Assessment Growth: Estimated at just over ½ of 1%
Month / Year Assessment Increase Increase % FY Period
11/1/2011 1,799,842,500 7/1/2012 1,823,609,700 23,767,200 1.3%7/1/2013 1,848,930,400 25,320,700 1.4% Full FY
11/1/2013 1,852,411,700 3,481,300 0.2%Est June 2014 1,860,000,000 7,588,300 0.4%
Full FY
1/2 FY
Assessment Growth: School District Fiscal Year (FY)
![Page 5: Solanco School District Preliminary 2014-15 Budget April 28, 2014](https://reader034.fdocuments.us/reader034/viewer/2022051622/56815107550346895dbf2655/html5/thumbnails/5.jpg)
Earned Income Tax: Slow Recovery
2007-08 Audit
2008-09 Audit
2009-10 Audit
2010-11 Actual
2011-12 Audit
2012-13 Audit
2013-14 Est
2014-15 Budget
$4,000,000
$4,500,000
$5,000,000
$5,500,000
$6,000,000
$6,500,000
$7,000,000
$7,500,000
Solanco EIT: Fiscal Year Total:2014-15 return to 2008-09 level
![Page 6: Solanco School District Preliminary 2014-15 Budget April 28, 2014](https://reader034.fdocuments.us/reader034/viewer/2022051622/56815107550346895dbf2655/html5/thumbnails/6.jpg)
State Budget Pension and Ready to Learn
• Solanco Property Tax increase and Local share of mandated Pension Increase offset each other (Approx. $525,000)
• Total State Estimated Revenue covers the other ½ of the mandated Pension increase
• State Gambling funds remain static• Est State Revenue Growth $835 M; Pension at
$610 M. ----Plus Est $900 M in one time funds
![Page 7: Solanco School District Preliminary 2014-15 Budget April 28, 2014](https://reader034.fdocuments.us/reader034/viewer/2022051622/56815107550346895dbf2655/html5/thumbnails/7.jpg)
Ready to Learn• ABG money can be used for Ready to Learn initiatives, but
Ready to Learn money can’t be used for ABG initiatives unless you are a Tier 4 District
• $100 Million of ABG funds (unchanged from 2013-14)• $240 Million new proposed to be distributed to Districts
and Charter Schools via formula.• Approximately $221 million to Districts, $19 million to
charters• Proposing ability to deduct this grant on PDE-363• $1 million in competitive grant funds for Pennsylvania’s
high-performing public schools to analyze and publish best practices that have proven to increase student achievement (Governor’s Expanding Excellence Grant Program)
![Page 8: Solanco School District Preliminary 2014-15 Budget April 28, 2014](https://reader034.fdocuments.us/reader034/viewer/2022051622/56815107550346895dbf2655/html5/thumbnails/8.jpg)
Ready to Learn Permitted Uses by District SPP Score
![Page 9: Solanco School District Preliminary 2014-15 Budget April 28, 2014](https://reader034.fdocuments.us/reader034/viewer/2022051622/56815107550346895dbf2655/html5/thumbnails/9.jpg)
Special EducationAfter 6 years of flat-funding at $1.026 billion, the proposed budget recommends a $20 million increase to the line item, nearly a 2% increase.
2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 $940,000
$960,000
$980,000
$1,000,000
$1,020,000
$1,040,000
$1,060,000
$980,619
$1,010,038
$1,026,815 $1,026,815 $1,026,815 $1,026,815 $1,026,815 $1,026,815
$1,046,815
Special Education Line Item
Am
ount
s in
thou
sand
s
![Page 10: Solanco School District Preliminary 2014-15 Budget April 28, 2014](https://reader034.fdocuments.us/reader034/viewer/2022051622/56815107550346895dbf2655/html5/thumbnails/10.jpg)
• Authority Rentals and Sinking Fund Requirements: The PlanCon line item was again level-funded at $296 million.
PlanCon
2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15$270,000,000
$280,000,000
$290,000,000
$300,000,000
$310,000,000
$320,000,000
$330,000,000
$340,000,000
$296,483,000
$308,368,000
$315,500,000
$330,000,000
$314,937,000
$296,198,000 $296,198,000 $296,198,000 $296,198,000
PlanCon State Appropriation
10%Decrease
![Page 11: Solanco School District Preliminary 2014-15 Budget April 28, 2014](https://reader034.fdocuments.us/reader034/viewer/2022051622/56815107550346895dbf2655/html5/thumbnails/11.jpg)
Only One Third of Slot Machine Revenue Goes to Property Tax Relief
![Page 12: Solanco School District Preliminary 2014-15 Budget April 28, 2014](https://reader034.fdocuments.us/reader034/viewer/2022051622/56815107550346895dbf2655/html5/thumbnails/12.jpg)
Act 1 Index Forecast
Source: Independent Fiscal Office Analysis of Senate Bill 76 and House Bill 76
Fiscal Year SAWW ECI Act 1 Base Index
2006-07 4.2% 3.5% 3.9%2007-08 2.8 4.0 3.42008-09 4.3 4.5 4.42009-10 4.6 3.6 4.12010-11 2.7 3.0 2.92011-12 0.9 1.9 1.42012-13 2.1 1.3 1.72013-14 2.0 1.4 1.72014-15 2.6 1.6 2.12015-16 2.3 2.5 2.42016-17 2.3 2.6 2.42017-18 2.2 2.9 2.62018-19 2.7 2.9 2.8
History and Forecast of the Act 1 Base Index (and Components)