Budget Presentation 2019 - 2020
Budget Presentation Highlights Include:
General Support $ 3,029,080.63 a 8.358% increase from 2018 - 2019.
Instruction $ 9,904,230.78 a 3.987% increase from 2018 - 2019.
Transportation $ 1,617,265.29 a 14.989% increase from 2018 - 2019.
Community Service $ 150.00 a 0% increase from 2018 - 2019.
Employee Benefits $ 4,807,041.30 a 0.980% increase from 2018 - 2019.
Debt Service $ 1,540,016.00 a 56.502% increase from 2018 - 2019.
Interfund Transfer $ 155,000 a -(3.125%) decrease from 2018 - 2019.
Total General Fund $ 21,052,784 a 7.243% increase from 2018 - 2019.
Total State Aid: $14,518,185 Increase of 9.56% from 2018-19 including 2.06% increase in Foundation Aid
Tax Rates are not set until assessments are finalized over the summer.
However, based on 2018-19 assessments, a 2% levy increase would equate to an increase of $27.00 per year or $2.25 per month on a $100,000 home.
Revenue Major Changes from 2018-19
State Aid: approx. 2% increase in Foundation Aid plus other increases in expense based aid (Building Aid and BOCES Aid) -
Medicaid: increase in reimbursements -
Local Revenues: Solar credits, increases in interest income on district funds and Perry Transportation Charges
Expenditure Major Changes from 2018-19
1620: Operations - increase reflects Solar Field expenses (off-set by revenue credits) and costs for the Building Conditions Survey
1621: Maintenance - increase in repair projects
1680: Central Data Processing - increase in technology expenses run through BOCES
2110: Instructional Salaries General - reflects contractual increases, personnel and placement changes
2250: Special Education - increase reflects changes in student placements and contractual increases
2280: Occupational Education - increase in number of students attending BOCES Career and Technical Education program
5510: Transportation - increase reflects contractual increases, additional bus routes (Perry costs offset by revenue) and bus purchases
9020: Teacher Retirement - decreased costs due to a reduction in the Employer Contribution Rate
9060: Health Insurance - increased premiums (3%)
9711: Principal & Interest - increase due to debt for the 2018 Capital Project (offset by Building Aid increase)
9950: Transfer to Capital - $100,000 capital outlay project to renovate the Elementary Gymnasium
This project will generate Building Aid in 2020-21
2019-20 E-Rate Project -
E-Rate Category 2 Project planned
$142,292
Replace Wi-Fi access points throughout the building and add points in weak areas and outside
70% reimbursable through E-Rate
Remaining 30% part of regular BOCES technology budget (aidable)
No increase in the overall budget to complete this project
Proposition 1 – Budget - $21,052,784 The Board of Education of Letchworth Central School shall be authorized to expend the sum set forth in the proposed budget for the 2019-20 school year in the amount of $21,052,784 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 “2019 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 $3,000,000, 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 Capital Bus Purchase Reserve Funds in an amount not to exceed $349,006.35 for the purchase of three (3) - 65 passenger buses.
Proposition 4 - Library Funding - $202,249.18 Shall the amount of funds raised by taxation to support the four public libraries in the Letchworth Central School District be increased from $198,283.51 to $202,249.18, the increased amount to be distributed as followed: $32,360.03 to the Eagle Free Library, Bliss; $68,764.06 to the Cordelia A. Greene Library, Castile; $60,675.05 to the Gainesville Public Library, Silver Springs; and $40,450.04 to the Pike Library Association, Pike
Vote - May 21, 2019 Noon - 9PM