Lansing Central School DistrictBudget Update

January 10, 2011

Dr. Stephen L. Grimm, Superintendent Ms. Mary June King, Business Administrator

TAX RATE HISTORY FYE 05-11

LEVY AND STATE AID FYE 05-11

BUDGET HISTORY

2006-07 2007-08 % ∆ 2008-09 % ∆ 2009-10 % ∆ 2010-11 % ∆

TAX RATE

18.782 20.1136 7.1% 17.760 -11% 17.599 - 1% 18.484 5.0%

TAX LEVY

13,384,558 14,409,148 7.7% 15,188,370 5.4% 15,546,406 2.4% 15,994,067 2.9%

STATE AID

5,737,672 6,564,990 14.4% 7,021,266 7.0% 7,243,709 3.2% 6,510,023 -10%

TOTAL BDGT

21,366,871 22,564,863 5.6% 22,838,912 1.2% 23,944,315 4.8% 24,377,906 1.8%

RESERVES FYE 07-112006-07 2007-08 2008-09 2009-10 2010-11

TAX CERT 80,405 0 400,000 400,000 400,000

ERS 0 0 600,007 600,007 600,007

EBALR 250,000 200,000 320,000 320,000 320,000

CAPITAL RESERVE 550,000 550,000 1,022,671 1,022,671 0

UNEMPLOYMENT RESERVE 0 0 0 0 200,000

APPROPRIATED 0 0 0 368,000 1,371,000

UNAPPROPRIATED 158,705 18,745 933,356 953,000 975,000

TOTAL RESERVES 1,039,110 768,745 3,644,034 3,685,678 3,866,007

FUTURE CONSIDERATIONS

PROJECTION CONSIDERATIONS• EARLY BUDGET PROJECTION = $25,168,051

- Calculated salaries, benefits, debt service, BOCES (est.), all other expenses held constant.

• EARLY GAP PROJECTION = $ 1,961,329– Revenues: State aid constant, loss of federal

stimulus $, taxable properties increase by 1%, AES PILOT decrease by $10 million

• LEVY: – Strategic plan holds combined levy to CPI + 1%

• = max levy increase of 2.1%– Current projection holds levy constant

Projected Budget/Revenue 2011-2012 Gap: January, 2011Projected

FYE12$25,168,051

790,145

Budget 2010-2011

$24,377,906 $ 1,961,329

1,171,184

Revenue for 2011-2012

$23,206,722

LEVY SHARE CHANGES

2010-2011

1.40% 15.22%

84.70%

LEVY SHARE

PILOTS

AES

HOMES

2011-2012

1.40%13.99%

85.19%

LEVY SHARE

PILOTS

AES

HOMES

STATE AID 09/10 through 11/12

EXPECTED NYS AID

w/o BLDG(1)

NYS AID w/

REDUCTION(2)

FEDERAL STIMULUSinc. ARRA+

(3)

SUM =[TOT AID]

(2) + (3)

REDUCTION AS % OF LEVY

IN THAT FY

ARRA AS % OF

LEVY IN THAT FY

‘09-10 $ 6,171,539 5,157,771 1,194,473 6,342,245 6.4% 6.4%

‘10-11 $ 6,590,225 5,247,605 455,847 5,703,452 8.5% 2.9%

‘11-12 $ 6,635,090 5,292,464 0 5,292,464 8.5% 0%

FEDERAL AID

• STIMULUS FUNDING CLIFF, 2011-2012– Revenue loss = $ 603,812

• POLITICAL CLIMATE– Current NCLB and IDEA salaries = $ 484,165

• EDUCATION JOBS FUND– Revenue = $ 381,542– Can be used in 2010-2011 or 2011-2012– Consider property tax cap (special aid fund)– Consider availability (see “Political Climate”)

PRELIMINARY BOCES BUDGET

• ..\..\Budget Documents 2011-2012\BOCES\BOCES-BUDGET.xls

• CAVEATS:– PRICES INCOMPLETE– CHANGES STILL BEING MADE

DEBT SERVICEBUS

PURCHASE BOCES ROOF PHASE I & REFUNDING ROOF EPC

2010-2011 $ 287,000 $ 33,500 $ 1,155,600 $ 0 $ 237,000

2011-2012 $ 240,000 $ 32,300 $ 1,494,300 $ 34,450 $ 437,800

STATE AID $ 240,000 $ 1,036,900 $ 35,000 $ 210,000(+$ 250,000 ges)

FISCAL RESOURCE PLANNING 11/12• ERS RESERVE OF $600,000:

– 2010-2011 INCREASE EST. 140,000• TAX CERT RESERVE OF $400,000:

– COULD USE SOME TO OFFSET AES REDUCTION – COULD ‘FREE’ SOME

• EDUCATION JOBS FUNDS– $351,000 CAN BE USED IN FYE11 OR FYE12

• UNAPPROPRIATED FUND BALANCE– Fully funded– Early Fund Balance projection = $400,000

FISCAL RESOURCE PLANNINGLONG-TERM

• UTILIZE ERS RESERVE TO OFFSET DRAMATIC RATE INCREASES

• MAINTAIN/UTILIZE TAX CERT RESERVE FOR APPROPRIATE TIME

• RE-ESTABLISH CAPITAL RESERVE FOR FUTURE PROJECTS

• APPROPRIATE MONIES AS ABLE TO OFFSET POSSIBLE TAX INCREASES

• OPERATE TO MAINTAIN FULL UNAPPR FUND BALANCE

• CREATE OTHER RESPONSIBLE RESERVES AS ABLE