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Middletown City School District

Middletown City School District. Five-Year Forecast Presentation Kelley Thorpe, Treasurer. Presented May 5, 2014. May 2014 Five-Year Forecast UPDATE. Still missing some critical and necessary information Pieces of the puzzle – Negotiations and programmatic changes

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Middletown City School District

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  1. Middletown City School District

    Five-Year Forecast Presentation Kelley Thorpe, Treasurer Presented May 5, 2014
  2. May 2014 Five-Year Forecast UPDATE Still missing some critical and necessary information Pieces of the puzzle – Negotiations and programmatic changes Forecast is designed to be a fluid document that can be modified with changes in the economic environment Does not represent the entire financial picture – only considers the General Fund
  3. Forecast Assumptions Revenues: This forecast assumes small operating revenue increase for FY15; but not beyond Increase from ODE is planned Decrease in property values and real estate taxes
  4. Forecast Assumptions Expenditures: This forecast assumes a slight decrease in expenses All budget managers given a 2% reduction for FY15 Increase in severance due to retirements (STRS Changes) Have Included a 12% increase for health insurance for FY15 and 15% increase for outlying years
  5. Revenue Details
  6. Revenue Details
  7. Expenditure Details
  8. Expenditure Details
  9. Comparison to October
  10. Bottom Line Important Puzzle Pieces: 1. In negotiations with MTA; no increases to base salary included in this forecast 2. Tomorrow’s election; if fail – will need to increase expenses for maintenance/repairs 3. Programmatic changes – know we need to do something different with alternative education due to Union Day closing – but decisions have not yet been finalized
  11. Questions
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