Castallo and Silky Education Consultants Jessica Cohen & Alan Pole, Consultants

1. School District Efficiency StudyMorrisville-Eaton Central SchoolDistrict Advisory Committee MeetingFINANCESAUGUST 20, 2014 Castallo and Silky Education Consultants Jessica Cohen & Alan Pole, Consultants

2. Follow Up From Previous Meetings Castallo & Silky-Education Consultants

3. Follow-up from Previous Meetings • Enrollment projections

4. Enrollment Projections Update • 2013 Live Birth Data = 47 • Projection based on 5 year average was 57 • Changes K – 12 enrollment projections for 2018 to 2020 2018-19 from 744 to 733 2019-20 from 752 to 741 2020-21 from 765 to 752

7. FINANCES

8. School District Finances • School district finances are like personal finances in many ways……..they have money coming in (income/revenues), they have money going out (expenses/expenditures), and they have (hopefully!) savings accounts (savings/reserves)

9. School District Revenue Sources

10. School District Expenses

11. History of School District Budgets

12. History of School District Budgets

13. School District Audit for 2012-13

14. History of State and Federal Aid

15. History of Reserves

16. Fund Balance to Reduce Taxes

17. Current Outstanding Bonds

18. Current Outstanding Bonds

19. History of True Value Tax Rates

20. Tax Rates of Area Districts

21. Bond Schedule for $24M Addition

22. Financial Summary • Program $0 • Transportation $0 • Staffing -$170,560 • Facilities $1,100,000 • Net Increase $929,440

23. Tax Impact of Building Addition • The district does not have any money in a capital reserve account • 1% increase in taxes generates $35,000 in additional revenue for the district • $929,440/$35,000 =26.6% increase in taxes to fund the addition

24. Something to Remember! • Even if the district decides not to move the elementary school to the middle/high school campus, the 2010 building condition survey identifies the following work to be considered: • Middle/High School-$3,889,264 • Elementary School - $4,469,806 $8,480,838

25. Study Recommendation • It is recommended that the Morrisville-Eaton Central School District not close the Edward R. Andrews Elementary School and move the elementary grades to the middle/high school campus. • It is recommended that the district's facilities committee reconvene to review the building condition survey and provide input to the Board of Education regarding future capital needs.

26. “Take Aways” • Approximately 93% of school district revenue comes from state aid and local taxes • The school district budget has remained relatively constant over the past 5 years • The district is receiving less state aid today than it was 5 years ago • The district has continued to use more of its fund balance to control taxes in each of the past 5 years

27. “Take Aways” • It would cost approximately $1,100,000/year for the next 20 years to move the elementary school to the middle/high school campus • After accounting for program savings, the net cost of moving the elementary school would be approximately $929,440/year or an increase in taxes of 26.6% • Whether or not the district decides to move the elementary school, there will be facilities improvements to be considered of approximately $8,480,838

28. “Take Aways” • It is recommended that the district not close the Edward R. Andrews Elementary School and move the elementary grades to the middle/high school campus • It is recommended that the district's facilities committee reconvene to review the building condition survey and provide input to the Board of Education regarding future capital needs.

29. Questions