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Lansing Central School District Budget Update December 9, 2013

Lansing Central School District Budget Update December 9, 2013. Ms. Mary June King, Business Administrator. 2014-2015 BUDGET DRIVERS. TRS Increase: 2013-2014 rate = .1625 per dollar paid Estimate is TRS rate will be between .1725 and .1775 per dollar paid

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Lansing Central School District Budget Update December 9, 2013

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  1. Lansing Central School DistrictBudget UpdateDecember 9, 2013 Ms. Mary June King, Business Administrator

  2. 2014-2015 BUDGET DRIVERS • TRS Increase: • 2013-2014 rate = .1625 per dollar paid • Estimate is TRS rate will be between .1725 and .1775 per dollar paid • Budget Estimate at .1775 per dollar paid • 9.23% increase in rate: • 1,493,314 - 1,553,169 (if no increase in rate) • 1,493,314 - 1,696,538 (with rate increase to .1775) $ 203,224 increase is 0.77% increase from 2013-14 budget

  3. 2014-2015 BUDGET DRIVERS • Health Insurance: • Average incr from 2000 = 8.08 % • Fund Balance challenges for consortium in current operations (large claims) • Consortium meeting in Jan 2014 will include discussion of rate increase for 2014-15 budget. - Current estimate at 8.00% premium rate increase $ 303,616 increase is 1.14% increase from 2013-2014 total budget amount

  4. 2014-2015 BUDGET DRIVERS • Salaries: • Instructional Salaries increase: • $ 369,390 equals approximately 1.39% of 2013-14 budget amount • Non-Instructional Salaries increase: • $ 166,055 equals approximately 0.63% of 2013-14 budget amount

  5. 2014-2015 BUDGET DRIVERS • TRS, Health Insurance, Salaries increases amount to approximately a $1M budget increase* • This is a 3.93% increase budget to budget. • Numbers that will help our planning: • TRS rate • Health insurance premium rate increase • BOCES budget finals

  6. 2014-2015 REVENUE DRIVERS • Power Plant • Loss in value of $14M = loss in tax revenue of approx $290,000 (at 2013-14 tax rate) • With no budget increase and no change in other revenue sources, tax levy increase = 2.12% • Other Revenue characters seem stable • 2013-2014 planned fund balance approp of $1,265,000 now projecting at $820,000

  7. DECISION TIMELINES FOR BOE • Best raw budget projection available in late January/early February • Best revenue projection available in late January/early February • February: Will need BOE to indicate funding choices Appropriations Levy/ Tax Rate Increase (Budget amount)

  8. DISCUSSION

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