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PRINCETON REGIONAL SCHOOLS 2012-2013 PROPOSED BUDGET

PRINCETON REGIONAL SCHOOLS 2012-2013 PROPOSED BUDGET. MAINTAINING EXCELLENCE WITHIN A CONSERVATIVE BUDGET. GOALS OF THE BUDGET 2012-2013. Goals of the 2012-2013 budget are: Work within a 2% tax levy cap Maintain focus on teaching and learning

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PRINCETON REGIONAL SCHOOLS 2012-2013 PROPOSED BUDGET

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  1. PRINCETON REGIONAL SCHOOLS2012-2013PROPOSED BUDGET MAINTAINING EXCELLENCE WITHIN A CONSERVATIVE BUDGET

  2. GOALS OF THE BUDGET2012-2013 Goals of the 2012-2013 budget are: • Work within a 2% tax levy cap • Maintain focus on teaching and learning • Support opportunities for our students’ intellectual, social and emotional growth • Use every dollar wisely in order to maximize the community’s investment in our schools and our children Princeton Regional School District is synonymous with: Excellence.

  3. A quick look backward… • Of the over $2 million loss of state aid in 2010-2011 all but $440,000 has been returned to the district revenue lines as of the 2012-2013 state aid allocations. • As per state legislation the tax levy cap for 2011-2012 budget was 2%, and will remain at a 2% tax levy cap for the 2012-2013 budget. • THANK YOU to the many donors whose contributions continue to support programs that would not have been possible this year without your generosity.

  4. “Adequacy” vs. Excellence • New Jersey’s most recent funding formula for public education is based on an “adequacy” formula. • Princeton is considered an “over-adequacy” district. • The State goal is to move all districts toward “median” spending levels. • This will be a battleground for Princeton for at least the foreseeable future.

  5. Where Did We Start? • The state reduced aid by 54% in February 2010 which greatly impacted the 2010-2011 budget negatively. • The state, in February 2011, returned $741,409 of that lost aid to support the 2011-2012 budget. • August 2011 the state released additional aid to districts to support budgets. Princeton received $741,409. This second release of aid replenished the district’s loss to all but $547,600 of the 2009-2010 aid level.

  6. Where Did We Start? • January 2012 we were hopeful that the balance of lost aid would be returned to the district. We were disappointed to learn only $107,606 of aid would be returned. • The district is still operating with a $440,000 deficit below the 2009-2010 aid level. • On a positive note we were able to balance the budget with no layoffs or program deterioration.

  7. CHARTER SCHOOLS’ COSTS • We will continue to support the Princeton Charter school in 2012-2013. Princeton Charter School expense is up 1.6% above prior year in order to cover an increase in tuition to that school. • Princeton Charter School costs = $4,777,482 in 2012-2013. • It is still not confirmed as to whether the new Princeton International Academy Charter School will open in September 2012. • If the PIACs charter school opens, our district budget could be drained of funds in excess of $400,000 and the drain will continue to grow each year. • The charter school tuition expense is budgeted in the tax levy question.

  8. Where are we now on March 27th? • No “planned” layoffs…but there are still some unknown factors • Budget funding levels set for a balanced budget • Plans for personnel and instructional programs for 2012-2013 are in progress • Implementation of new laws governing health benefit contributions

  9. PROPOSED BUDGET 2012-2013 • School and department budgets remain at 2011-2012 levels • Efforts to stabilize utility bills through controls and efficiencies will continue • Decreases in out-of-district tuitions have been maximized

  10. BASIC BUDGET FACTS 2012-2013 • The operating budget is heavily impacted by state mandates and contractual salaries and benefits. • The impact of these constraints on the operating expenses, combined with decreases in major categories, generates a budget which is 1.00%higher than the 2011-2012 general fund budget. CONSERVATIVE is the label for this budget.

  11. BASIC BUDGET FACTS 2012-2013 • The operating budget is supported primarily by local taxes. • The proposed general fund tax levy increase of 2.00%, will support the 2012-2013 budget without further program deteriorations, and will continue to address the over-crowding of core classes at the high school, expanded academics & co-curricular opportunities at JW, & low class sizes at the elementary schools.

  12. REVENUES: OPERATING BUDGET 2012-2013 Taxes to be requested $63,434,108* Fund Balance $ 3,145,119 Tuition & Revenues (below PY) $ 4,416,465 State aid ($1,589,000 returned) $ 3,337,049 Extra-Ordinary Aid (budgeted) $ 350,000 Other Revenues(budgeted) $ 574,365 Capital Reserve transfer$ 350,000 Total Operating Revenues$75,607,106 Total Operating Expenses $75,607,106 *Tax excludes amount for debt payment.

  13. EXPENSES: OPERATING BUDGET 2012-2013 2012-2013$Change%Change Instruction $31,567,330 $ 1,034,866 3.4% Tuitions S&R $ 4,005,969 $ (2,440) (.06%) Student Support Services $ 9,036,565 $ 391,080 4.5% Administration $ 4,406,237 $ 170,271 4.0% Operations $ 6,087,676 $ 7,143 0.1% Transportation $ 3,089,384 $ ( 69,015) (2.2%) Continued:

  14. EXPENSES: OPERATING BUDGET 2012-2013 2012-2013$Change%Change Benefits – ALL $11,929,787$ (620,142) (4.9%) Cap Reserve $ 350,000 $ ( 50,000) (12.5%) Withdraw Capital Expenditure $ 356,676 $ (111,607) (23.8%) Charter School$ 4,777,482$ (6,099)(.12%) Total Expenses $75,607,106 $ 744,057 2011-2012 $74,863,049 Budget Increase .99%

  15. SCHOOL TAX 2012-2013 SHARE 2011-20122012-2013Increase Borough $20,719,499 $21,057,121 $ 337,622 Township $41,470,803 $42,376,987 $ 906,184 Total Tax School Year $62,190,302 $63,434,108 $1,243,806 Growth of General Fund Tax as a percent: 2.00%

  16. TAX IMPACT OF TAX YEAR 2012 Average 2012 assessed Borough home value: $748,155.00 Average 2012 assessed Township home value: $822,263.00 Average ‘estimated’ tax increase that the 2012-2013 budget generates is: Borough $141 Township $211 Ratable values in the Township decreased in 2012.

  17. MUNICIPALITIES’ TAX SHARE Percentage Share of Local Tax Levy: This is an imposed percentage share which is calculated in the Mercer County Division of Finance Office, using home sales data collected by the Tax Board. This is the last year there will be a split as the communities are consolidating. 2006-072007-082008-092009-20102010-112011-12 2012-13 Borough Share 30.5% 32% 32.8% 33.3%33.6%33.32% 33.20% Township Share 69.5% 68% 67.2% 66.7%66.4% 66.68% 66.80% Total 100% 100% 100% 100% 100% 100% 100%

  18. Where should resources ( dollars and personnel) INCREASE in order to promote growth in future years? • TECHNOLOGY, Technology, Technology • Power Up Campaign ~ on going! • Professional Learning • Capital Projects: a separate referendum question to address deferred capital projects will soon be necessary.

  19. PRINCETON PUBLIC SCHOOLS • Due to the consolidation of Princeton Borough and Township the school district will no longer be a ‘regional’ school district. • Effective July 1st 2012 the district that serves the children of Princeton will officially change it’s name to • Princeton Board of Education • The Board of Education will also be known as the • Princeton Public Schools • We will continue to enjoy our sending receiving relationship with Cranbury.

  20. What can we project for 2013-2014? • Expect the continuation of a 2.0% cap on the 2013 tax levy question. This cap will greatly increase the need to restructure programs, seek additional revenue streams, and approach traditional systems differently as future budgets are developed. • Larger contributions towards health benefit costs from all staff will assist in balancing the budget • Possibly more outsourcing

  21. WHAT CAN COMMUNITY MEMBERS DO? • CONTACT LEGISLATORS, THE GOVERNOR AND THE COMMISSIONER OF EDUCATION TO MAKE YOUR VOICES HEARD IN SUPPORT OF REGULAR PUBLIC SCHOOL DISTRICTS • VOTE ON APRIL 17th (TUESDAY) OR VIA ABSENTEE BALLOT • SEEK PRIVATE FUNDING SOURCES AND SUPPORT PEF’S GREAT EFFORTS • VOLUNTEER

  22. SCHOOL BOARD ELECTION “LEADERSHIP MATTERS” Borough – Two Seats Open Candidates: Rebecca Cox (incumbent) Martha Land Dudley Sipprelle Township – One Seat Open Candidate: Patrick Sullivan Vote: Tuesday April 17st, 2012 * 12:00 PM – 9:00 PM*

  23. “AND HOW ARE THE CHILDREN?”

  24. Here in our district, by so many measures, our children are excelling….Advanced Placement Exams, NJASK scores, SAT results, college and university admissions, performing arts, athletics….and the list goes on and on! But our goals are for every child, and for every year. Your involvement and engagement in this, one of our nation’s best districts, is needed and invaluable.

  25. Public Forum: Questions & Comments ______________________________ Website: www.prs.k12.nj.us for budget information, links to our legislators and voting information. Follow the PRS Board of Education’s Facebook page!

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