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Hammondsport Central School. 2016-2017 Budget Information. 16-17 Budget goals and assumptions. In working towards long term fiscal stability, the District needs to reduce reliance on the use of fund balance and reserves as yearly revenue by at least 20%.
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Hammondsport Central School 2016-2017 Budget Information
16-17 Budget goals and assumptions • In working towards long term fiscal stability, the District needs to reduce reliance on the use of fund balance and reserves as yearly revenue by at least 20%. • The Gap Elimination Adjustment will be completely eliminated and we will receive the full amount owed of $78,248 in 16-17. • Our local property tax cap will be between a negative 1.5-2.5%. • The SAS Health Insurance Consortium will use its’ reserves to keep any rate increase to 5% or below. • The decreases in retirement system contribution levels will be offset by the salary increases in those categories allowing us to leave those budget items flat for 16-17.
THE THREE PART BUDGET • The ADMINISTRATIVE component provides for overall general support and management of the operations of the District and includes: Board of Education costs, Central and school administration, Business Operations, curriculum development, BOCES administrative expenses, and benefits for current and retired persons in this category. • The PROGRAM component provides for all expenditures related to the instructional program of the District including special education, support services, co-curricular and athletic programs, counseling and health services, pupil transportation, and benefits for current and retired persons in this category. • The CAPITAL component provides for all costs associated with maintaining facilities and grounds as well as building and equipment repairs, maintenance and custodial supplies and materials, utilities, debt service payments, and benefits for current and retired persons in this category.
Proposed Expenditure Budget • Proposed budget of $13,676,588. • Budget Increase of $231,729 or 1.72% • Largest Budget Increases are in the areas of: • Benefits $247,990 • Transportation Equipment $118,000 • Two Largest Areas = $365,990 budget increase
Projected Revenue 2015-2016 2016-2017 • Projected State Aid • Inclusive of Building Aid: $4,363,452 $4,595,626 • Reserves/Fund Balance: $615,000 $600,000 • Other Revenue $118,000 $155,000 • Total $5,096,452 $5,350,626
Tax Impact on A $100,000 Home (Town of Wayne, urbana, tyrone, or pulteney)
16-17 budget goals and assumptions • In working towards long term fiscal stability, the District needs to reduce reliance on the use of fund balance and reserves as yearly revenue by at least 20%. • Reduction of $15,000 or 2.4%, reduction from $615,000 to $600,000. • The Gap Elimination Adjustment will be completely eliminated and we will receive the full amount owed of $78,248 in 16-17. • The GEA has been eliminated and we will receive $78,248. • Our local property tax cap will be between a negative 1.5-2.5%. • Original tax cap was approximately -1.8%. With the inclusion of the bus purchase, the tax cap increased to .27%.
16-17 budget goals and assumptions • The SAS Health Insurance Consortium will use its’ reserves to keep any rate increase to 5% or below. • There was a 10% rate increase on Feb 1st followed by a 15% increase on July 1st. A total rate increase on all plans of 25% from 15-16 to 16-17. A plan assessment due June 30th is still a possibility. • The decreases in retirement system contribution levels will be offset by the salary increases in those categories allowing us to leave those budget items flat for 16-17. • Funding levels for retirement system contributions have been left flat for 16-17.
Capital outlay project 2016-2017 • Repair exterior structure at leech field pump house. • Counter top replacement in some 7-12 classrooms. • Replacement of some of the small lockers remaining in the 7-12 hallways. • Total cost of project cannot exceed $100,000. District receives $56,700 back in building aid the following year each year a project is completed.
Bus purchase • Due to the savings garnered through the refinancing of long term debt, as well as lower than anticipated interest rates on new borrowing, the District will be seeing a decrease in overall debt service payments in 16-17 of $134,386. • The District has adopted a bus replacement program that will allow for the replacement of the entire fleet by 2024. • A District vote was planned for December 2016 for a replacement 77 passenger bus as a component of that plan. • The savings in debt service enables the District to build the purchase of the new school bus, which is replacing a 2009 bus in our fleet, into the general fund budget. • This will save the costs of financing the bus over time and maintains our current capital bus reserve for later use.
Foundation aid increases 2013-2016 • 2013- $8,669 • 2014- $24,636 • 2015- $10,815 • 2016- $28,651 • 2.5% yearly increase in all salaries: $141,973 • 5% increase in the cost of health insurance benefits: $110,710
Proposition No. 2 – Authorization to Transfer Liability Reserve Funds and to Fund Repair ReserveShall the following resolution be approved by the voters:
Proposition #3 Board of Education Candidate • One five year term will be available • Incumbent Dennis Carlson is running for an additional 5 year term on the Board. One slot is available and is a five-year term.
VOTE • Tuesday, May 17th, 2016 • 12 Noon to 8 PM • **High School Gymnasium • **Paper ballots will be used
