2018 - 2019 Public Hearing Budget Presentation

Proposed 2018 - 2019 Budget Document

Highlights Include:

2018 - 2019 Proposed Budget $ 2,795,433.99 that is a -.0484% change from 2017 - 2018.

Total Instruction Cost $ 9,524,532.41 that is a 0.400% change from 2017 - 2018.

Total Transportation Cost $ 1,406,455.37 that is a 3.374% change from 2017 - 2018.

Total Community Service Cost $150 that is a -86.957% from 2017 - 2018.

Total Employee Benefits Cost $ 4,760,398.23 that is a 3.267% increase from 2017 - 2018.

Total Debt Service (Includes Serial Bonds - Principal, Serial Bonds - Interest, Bond Anticipation Notes - Interest, Revenue Anticipation Notes - Interest) Cost $ 984,024 an increase of 25.560%.

Total Interfund Transfers (Includes Transfer to Special Aid Fund, Transfer to Capital Fund) that is a 0% change.

Total General Fund $ 19,630,994.00 that is a 2.187% increase from 2017 - 2018.

Total Revenues $ 19,630,994 that is a 2.19% increase from 2017 - 2018.

Revenue Major Changes from 2017 - 2018

• Interfund Transfers: BAN Interest from the Capital Fund
• Medicaid: increase in reimbursements
• Appropriated Reserves: - $40,079 from the Unemployment Reserve

2018-19 Property Tax Cap: 3.68%

2018-19 Proposed Tax Levy Increase: 0.0% ($165,312 below the cap)

Simple Majority Vote Required to Pass the Budget

Major Changes from 2017-18

• 1310: Business Administration - reduction in personnel costs
• 1620: Operations - reflects a full-time SRO contract with the Wyoming County Sheriff’s Department
• 1621: Maintenance - reduction in personnel costs
• 2020: Supervision - reduction in personnel costs
• 2110: Instructional Salaries General - reflects contractual increases, personnel and placement changes, inter-municipal agreement contractual expense with Keshequa CSD for .5 Art teacher (a reduction of 1.0 FTE Teaching Asst.)
• 2250: Special Education - reflects changes in student placements, staff assignments and allocation of salaries to grants and special programs
• 2630: IT Supplies and Materials - reduction in printing costs
• 2820: School Psychologist - added a school psychologist and a reduction of an intern
• 9020: Teacher Retirement - increased costs due to a increase in the Employer Contribution Rate (8.5% increase)
• 9040: Workers’ Comp - increased premiums (34%)
• 9060: Health Insurance - increased premiums (3.5%)
• 9731: BAN Interest - funded through interfund transfer
• 9950: Transfer to Capital - $100,000 capital outlay project to upgrade cameras at entrances and throughout the building

This project will generate Building Aid in 2019-20

Proposition 1 – Budget - $19,630,994

The Board of Education of Letchworth Central School shall be authorized to expend the sum set forth in the proposed budget for the 20187-19 school year in the amount of $19,630,994 and to levy the necessary tax therefore.

Proposition 2 - Establish a Capital Reserve Fund

Be it resolved that the Board of Education of the Letchworth Central School District is hereby authorized to establish a Capital Reserve Fund pursuant to Section 3651 of the Education Law (to be known as the “2018 Building Capital Reserve Fund”), with the purpose of such fund being to finance site work, construction or reconstruction and equipping of school buildings and facilities that would be eligible for financing under the Local Finance Law, and costs incidental thereto, the ultimate amount of such fund to be $2,000,000, plus earnings thereon, the probable term of such fund to be 10 years, but such fund shall continue in existence until liquidated in accordance with the Education Law or until the funds are exhausted, and the sources from which the funds shall be obtained for such Reserve are (i) an initial deposit of $500,000 to be transferred from the existing Retirement Contribution Reserve, and (ii) amounts from budgetary appropriations from time to time, and (iii) unappropriated fund balance made available by the Board of Education from time to time, and (iv) New York State Aid received and made available by the Board of Education from time to time, all as permitted by law.

Proposition 3 - Bus Purchase Reserves

Be it resolved that the Board of Education of the Letchworth Central School District shall be authorized to expend funds from the 2017 Transportation Vehicles Capital Reserve Fund, established by the voters on May 16, 2017 under Section 3651 of Education Law, for the purchase of four (4) - 65 passenger buses and one (1) - 30 passenger mini bus; not to exceed the total sum of $489,618.86.

Proposition 4 - Vehicle Purchase from Reserve

Be it resolved that the Board of Education of the Letchworth Central School District shall be authorized to expend funds from the 2015 Maintenance Vehicles/Equipment Reserve Fund, established by the voters on May 19, 2015 under Section 3651 of Education Law, for the purchase of one (1) - one-ton dump truck; not to exceed the total sum of $50,000.00.

Proposition 5 - Library Funding - $198,283.51

Vote - May 15, 2018 Noon - 9PM