TWIN VALLEY SCHOOL DISTRICT 2015-16 PRELIMINARY BUDGET
2015-16 Preliminary Budget Revenue
1.1%
22.0% Local State Federal 76.8%
2015-16 Preliminary Budget Expenses 23.9%
Salaries and benefits Debt Other Expenses
11.9% 64.3%
2015-16 Preliminary Budget Budget Drivers
Expense Budget Drivers for the 2015-16 Preliminary Budget include
Pension Rate Increase Employer
PSERS rate increased from 21.40% in 2014-15 to 25.84% in 2015-16 (will be 29.27% in 2016-17)
Health Insurance Rate Increase
Special Education Increases
Other Market Driven Inflationary Increases
All other budgets held static
2015-16 Preliminary Budget Revenue
Expenses
$70.0
$70.0
$60.0
$60.0
$50.0
$50.0
$40.0
Federal State
$30.0
Local
$40.0
Debt $30.0
$20.0
$20.0
$10.0
$10.0
$0.0
$0.0
2014-15
2015-16
Other Expenses
Salaries and benefits
2014-15
2015-16
2015-16 Preliminary Budget is $2.8 Million or 5% over 2014-15 Approved Budget
2015-16 Preliminary Budget Tax Rates
Administration recommends the use of all eligible Act 1 exceptions. If exceptions are not used, there are concerns on the negative compounding effect on future funding.
Eligible for PSERS and Special Education Act 1 Exceptions in 2015-16
R/E Tax Rate (Index + Exceptions)
Berks County
25.7914 mills 5.09% increase
Chester County
28.1134 mills 4.55% increase
REAL ESTATE TAX RATES FOR BERKS COUNTY SCHOOL DISTRICTS DISTRICT Antietam Brandywine Hts. Area Exeter Twp. Fleetwood Area Kutztown Area Wyomissing Area Daniel Boone Area Tulpehocken Area Muhlenberg Schuylkill Valley Hamburg Area Governor Mifflin Conrad Weiser Area Oley Valley Twin Valley Wilson Boyertown Area Reading
2013-14 MILLAGE 34.5600 32.3000 30.8550 29.2100 29.3252 29.0529 28.9620 27.7000 26.8100 26.7900 25.9600 25.6860 25.7800 24.9318 23.8814 24.0000 22.5700 16.9200
2014-15 MILLAGE 35.8600 32.3000 31.2500 30.2100 30.0480 29.4887 28.9620 27.7000 27.5600 26.7900 26.2100 26.0000 25.7800 25.3930 24.5425 24.2500 23.3900 17.4100
REAL ESTATE TAX RATES FOR CHESTER COUNTY SCHOOL DISTRICTS DISTRICT
2013-14 MILLAGE
2014-15 MILLAGE
Octorara Area School District Coatesville Area School District Oxford Area School District Phoenixville Area School District
36.6600 31.1926 30.0502 28.6400
36.6600 32.0036 30.2324 28.8900
Owen J. Roberts School District Kennett Consolidated School District Avon Grove School District Downingtown Area School District Twin Valley School District
27.7395 27.4520 26.7500 27.1820 25.4606
28.2888 27.9406 27.4990 27.1820 26.8903
Unionville-Chadds Ford School District Tredyffrin/Easttown School District
25.7300 19.5902
26.4400 20.2171
Great Valley School District West Chester Area School District
19.5900 18.6700
20.0000 19.2100
2015-16 Preliminary Budget 5 Year Projection Deficit with use of all Act 1 Exceptions
Revenue with all exceptions Expenses * Annual Deficit
2014-15
2015-16
2016-17*
2017-18*
2018-19*
2019-20*
55,830,615 55,830,615
58,600,679 58,600,679
60,928,365 61,297,468
62,981,712 63,264,990
65,089,392 65,296,240
67,216,037 67,418,978
(369,103)
(283,278)
(206,847)
(202,941)
-
-
Deficit with use of only Act 1 Index
Revenue at Act 1 Index Increase Expenses * Annual Deficit
2014-15
2015-16
2016-17*
2017-18*
2018-19*
2019-20*
55,830,615 55,830,615
57,720,153 58,600,679
59,127,587 61,297,468
60,239,516 63,264,990
61,384,125 65,296,240
62,525,549 67,418,978
(2,169,882)
(3,025,474)
(3,912,114)
(4,893,429)
-
(880,526)
*Note: 2016-17 through 2019-20 are projected with no salary increase. True deficit will be higher.
2015-16 Budget Calendar Completed Items
July – Budget Schedule Sept – Act 1 Published, Review Prior Year, Develop staffing budget base line Oct – Develop Budget projection model Oct – Updated projection model
Nov – Central Office Team meet with Directors and Principals Nov – Principals and Directors submitted budgets Dec – Budget Compiled, Presented to Board, Received direction from Board
2015-16 Budget Calendar Going Forward Jan
– Present preliminary budget Feb – Board adopt preliminary budget, apply for exceptions
May
– Present final budget June – adopt final budget
Board will receive updates/changes between Preliminary and Final Budget
