TWIN VALLEY SCHOOL DISTRICT - tvsd.org

Unionville-Chadds Ford School District 25.7300 26.4400 Tredyffrin/Easttown School District 19.5902 20.2171 Great Valley School District 19 ... 2015-16...

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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