1
School District Efficiency Study Morrisville-Eaton Central School
District Advisory Committee Meeting
FINANCESAUGUST 20, 2014
Castallo and Silky Education ConsultantsJessica Cohen & Alan Pole, Consultants
2
Follow Up From Previous Meetings
Castallo & Silky-Education Consultants
3
Follow-up from Previous Meetings
• Enrollment projections
4
Enrollment Projections Update
• 2013 Live Birth Data = 47– Projection based on 5 year average was 57
• Changes K – 12 enrollment projections for 2018 to 2020
2018-19 from 744 to 7332019-20 from 752 to 7412020-21 from 765 to 752
5
6
7
FINANCES
8
School District Finances• School district finances are like personal
finances in many ways……..they have money coming in (income/revenues), they have money going out (expenses/expenditures), and they have (hopefully!) savings accounts (savings/reserves)
9
School District Revenue Sources
State & Federal Sources-64.9%
Property Taxes & STAR-27.7%
Operating Grants-5.4%
Charges for Services-1.0%
Other-1.0%
10
School District Expenses
Instruction-68.7%
General Support-16.7%
Pupil Transportation-9.0%
Food Service Program-3.1%
Debt Service-2.5%
11
History of School District Budgets
12
History of School District Budgets
2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-1512,000,000
12,500,000
13,000,000
13,500,000
14,000,000
14,500,000
15,000,000
15,500,000
13,300,254
14,075,370
14,545,182
15,061,255
14,378,569
14,821,982
15,246,424
15,025,042
History of School District General Fund Budgets
13
School District Audit for 2012-13
14
History of State and Federal Aid
15
History of Reserves
16
Fund Balance to Reduce Taxes
2008-09 2009-10 2010-11 2011-12 2012-130
50,000
100,000
150,000
200,000
250,000
300,000
350,000
90,000
125,000
200,000
250,000
300,000
History of Assigned Fund Balance to Reduce Taxes
17
Current Outstanding Bonds
18
Current Outstanding Bonds
19
History of True Value Tax Rates
2009-10 2010-11 2011-12 2012-13 2013-14$13.50
$14.00
$14.50
$15.00
$15.50
$16.00
$14.39 $14.52
$15.03 $15.24
$15.70
History of True Value Tax Rates
20
Tax Rates of Area Districts
21
Bond Schedule for $24M Addition
22
Financial Summary
Program $0
Transportation $0
Staffing -$170,560
Facilities $1,100,000
Net Increase $929,440
23
Tax Impact of Building Addition
The district does not have any money in a capital reserve account
1% increase in taxes generates $35,000 in additional revenue for the
district$929,440/$35,000 =26.6% increase in taxes
to fund the addition
24
Something to Remember!
• Even if the district decides not to move the elementary school to the middle/high school campus, the 2010 building condition survey identifies the following work to be considered:– Middle/High School-$3,889,264– Elementary School - $4,469,806
$8,480,838
25
Study Recommendation
• It is recommended that the Morrisville-Eaton Central School District not close the Edward R. Andrews Elementary School and move the elementary grades to the middle/high school campus.
• It is recommended that the district's facilities committee reconvene to review the building condition survey and provide input to the Board of Education regarding future capital needs.
26
“Take Aways”• Approximately 93% of school district revenue
comes from state aid and local taxes• The school district budget has remained
relatively constant over the past 5 years• The district is receiving less state aid today
than it was 5 years ago• The district has continued to use more of its
fund balance to control taxes in each of the past 5 years
27
“Take Aways”• It would cost approximately $1,100,000/year for the
next 20 years to move the elementary school to the middle/high school campus
• After accounting for program savings, the net cost of moving the elementary school would be approximately $929,440/year or an increase in taxes of 26.6%
• Whether or not the district decides to move the elementary school, there will be facilities improvements to be considered of approximately $8,480,838
28
“Take Aways”• It is recommended that the district not close
the Edward R. Andrews Elementary School and move the elementary grades to the middle/high school campus
• It is recommended that the district's facilities committee reconvene to review the building condition survey and provide input to the Board of Education regarding future capital needs.
29
Questions
