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Lansing Central School District Budget Update January 10, 2011

Lansing Central School District Budget Update January 10, 2011. Dr. Stephen L. Grimm, Superintendent Ms. Mary June King, Business Administrator. TAX RATE HISTORY FYE 05-11. LEVY AND STATE AID FYE 05-11. BUDGET HISTORY. RESERVES FYE 07-11. FUTURE CONSIDERATIONS. PROJECTION CONSIDERATIONS.

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Lansing Central School District Budget Update January 10, 2011

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  1. Lansing Central School DistrictBudget UpdateJanuary 10, 2011 Dr. Stephen L. Grimm, Superintendent Ms. Mary June King, Business Administrator

  2. TAX RATE HISTORY FYE 05-11

  3. LEVY AND STATE AID FYE 05-11

  4. BUDGET HISTORY

  5. RESERVES FYE 07-11

  6. FUTURE CONSIDERATIONS

  7. PROJECTION CONSIDERATIONS • EARLY BUDGET PROJECTION = $25,168,051 • Calculated salaries, benefits, debt service, BOCES (est.), all other expenses held constant. • EARLY GAP PROJECTION = $ 1,961,329 • Revenues: State aid constant, loss of federal stimulus $, taxable properties increase by 1%, AES PILOT decrease by $10 million • LEVY: • Strategic plan holds combined levy to CPI + 1% • = max levy increase of 2.1% • Current projection holds levy constant

  8. Projected Budget/Revenue 2011-2012 Gap: January, 2011

  9. LEVY SHARE CHANGES 2010-2011 2011-2012

  10. STATE AID 09/10 through 11/12

  11. FEDERAL AID • STIMULUS FUNDING CLIFF, 2011-2012 • Revenue loss = $ 603,812 • POLITICAL CLIMATE • Current NCLB and IDEA salaries = $ 484,165 • EDUCATION JOBS FUND • Revenue = $ 381,542 • Can be used in 2010-2011 or 2011-2012 • Consider property tax cap (special aid fund) • Consider availability (see “Political Climate”)

  12. PRELIMINARY BOCES BUDGET • ..\..\Budget Documents 2011-2012\BOCES\BOCES-BUDGET.xls • CAVEATS: • PRICES INCOMPLETE • CHANGES STILL BEING MADE

  13. DEBT SERVICE

  14. FISCAL RESOURCE PLANNING 11/12 • ERS RESERVE OF $600,000: • 2010-2011 INCREASE EST. 140,000 • TAX CERT RESERVE OF $400,000: • COULD USE SOME TO OFFSET AES REDUCTION • COULD ‘FREE’ SOME • EDUCATION JOBS FUNDS • $351,000 CAN BE USED IN FYE11 OR FYE12 • UNAPPROPRIATED FUND BALANCE • Fully funded • Early Fund Balance projection = $400,000

  15. FISCAL RESOURCE PLANNINGLONG-TERM • UTILIZE ERS RESERVE TO OFFSET DRAMATIC RATE INCREASES • MAINTAIN/UTILIZE TAX CERT RESERVE FOR APPROPRIATE TIME • RE-ESTABLISH CAPITAL RESERVE FOR FUTURE PROJECTS • APPROPRIATE MONIES AS ABLE TO OFFSET POSSIBLE TAX INCREASES • OPERATE TO MAINTAIN FULL UNAPPR FUND BALANCE • CREATE OTHER RESPONSIBLE RESERVES AS ABLE

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