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MOSHANNON VALLEY SCHOOL DISTRICT

MOSHANNON VALLEY SCHOOL DISTRICT

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MOSHANNON VALLEY SCHOOL DISTRICT

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  1. MOSHANNON VALLEY SCHOOL DISTRICT 2015-2016 PROPOSED BUDGET 4-20-15

  2. 2015-16 Timeline • Oct ‘14 – PDE issues 2015-16 adjusted index (2.8%) • Nov ‘14 – Approve resolution not to increase taxes above index (2.43 Mills) • Dec ‘14– 15-16 Budget request forms forwarded to staff • Jan ‘15 – Budget requests forwarded to principals for review • Feb ‘16 - Approved requests forwarded to district office • Feb-May ‘15- Begin annual bid process & schedule Finance comm. mtgs. • May ‘15 – Approve Proposed 15-16 budget (begin public display) • June ‘15 – Advertise intent to adopt final 15-16 budget • June ‘15 – Adopt final 15-16 budget; release purchase orders

  3. Fund Balance Projection 6-30-16 General Fund 10 • Unassigned $1,448,153 • Less 15-16 deficit ($191,218) • Balance $1,256,935 • Assigned • Health Ins,Ret, Energy $3,425,631 Bldg. Projects $1,730,000 ********************************************** Capital Reserve Fund 22 (Restricted) • Capital Projects ESCO $1,028,358

  4. Revenue PROJECTION 2015-16 $13,616,319 14-15: $13,663,658 (projected) 13-14: $13,821,922(actual) 12-13: $13,293,570 (actual) 4 yr avg $13.5 M

  5. State Subsidy $9,722,442 Basic Education Funding $6,974,374 +2% Special Education $767,068 + Transportation $720,000 - Rental & Sinking fdpmts $206,000 Retirement $500,000 (25.84%) Other $555,000

  6. www.schoolsthatteach.com

  7. Local Revenue $3,518,877 • Revenue source – RE Taxes, PC Taxes, Delinquent Taxes & Interest • Local control – Real Estate • 87.8 mills +1 mil • District collects approx 88% of RE taxes • Est. 2015-16 RE $2,405,777 • Est. Property Tax Relief: • $327,000 - Lowers RE taxes $164 (est.) • 1 mill equals approximately $30,000 Average Property Value $39,668

  8. 1 Mill Impact on Property Owners $30,000 property - $7.50 increase $50,000 property - $12.50 increase $75,000 property - $19.63 increase $100,000 property - $25.00 increase $125,000 property – $31.25 increase $150,000 property - $37.50 increase Our last increase was 1 mill in 2008-09 Seven years ago

  9. Coal Lease Will add to our Local Revenue $5,000 received and deposited Not sure when operations will begin Added $3000 to local rev for 15-16 Start budgeting royalties in 16-17 Different than tax revenue, has a beginning and end Use for 1 time purchases

  10. Federal $375,000 est • Title I (School wide) $265,000 • Reading, Math • Title II $50,000 • Professional Development • Access $60,000 • Based on billing forEligible Services

  11. Debt Service Schedule 2009 Series – Paid off in 2015 $1,032,574 bond payment in 15-16 2012 Series - $16,000,000The refinance savings ends 2017, payments will increase by approx. $218,000 in 2018. (until 2032)

  12. New 15-16 Special Education Teacher $53,300 Increased Minimum Wage to $10/hr $55,154 (Custodians/Aides) Cafeteria Transfer ?

  13. OptimizeStudent Achievement 2015-16 Expenditures with Available Resources

  14. Expenditures by Function$13,807,537

  15. Expenditures by Object$13,807,537

  16. 15-16 Instruction (1000) Expenditures $7,889,908 70 Employees; 2.8% Salary increase; 0% Health Insurance Increase; Retirement – 25.84%; TTT-Cyber-Charter Tuition, Prof Svc-S4T, CIU, OT

  17. Support (2000) Expenditures $4,440,084 45 Employees, 2.7-3% wage increase, 0% Medical Ins Increase, TTT-Pupil Transportation, Prof Svcs.-Technology, training, legal, auditors, Athletic Trainer, BldgSvcs.-Maintenance Agreements

  18. 3000 STUDENT ACTIVITIES4000 BUILDING5000 BOND PAYMENTS Student Activities $372,471 Building Improvements $30,000 Bond Debt $1,075,074