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2012-13 Draft Budget Highlights Overview: Revenues, Expenses, and Financial Outlook

The 2012-13 draft budget outlines balanced revenues and expenses at $23,478,584.57, indicating a shortfall of $0. State Aid is projected to rise to $11,165,780, a $278,181 increase from last year, but still $1.965 million below the 2009-10 levels. The tax levy limit stands at 2.6%. Proposed expense cuts of approximately $650,000 reflect increased costs in various areas including debt and employee benefits. The budget also notes significant reserve balances and projections for the next five years, emphasizing the need for strategic financial planning.

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2012-13 Draft Budget Highlights Overview: Revenues, Expenses, and Financial Outlook

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  1. DRAFT 2012-13 AprilBUDGET HIGHLIGHTS Revenues $23,478,584.57 Expenses $23,478,584.57 Shortfall $ 0 Revenue issues: State Aid is $11,165,780 or $278,181 more than last yr. This is still $1.965 million less than we received in 09-10. Tax Levy Limit is currently at 2.6% before exclusions this is a simple majority vote. BOE can increase or decrease Fund Balance is suggested at 650,000 from debt service BOE can determine more or less Expense issues: Suggested cuts equal approximately $650,000 Debt, Trans Fuel, BOCES and Benefits lines items have increased

  2. 2012-13 Draft Revenue Budget – April2012 Categories Budget Budget 2012-13 2011-12 State Aid $11,166,000 $10,883,000 Local Levy $10,888,750 $10,600,000 Other $173,850 $373,400 Fund Balance Debt Service Capital Fund Appropriated Unemployment $650,000 $700,000 $250,000 $500,000 $500,000 $100,000 $109,200 Total $23,478,600 $23,415,600

  3. 2012-13 Draft Expense Budget – April2012 Budget Budget Categories 2012-13 2011 - 12 $ 9,991,775 $ 10,378,450 Salaries Benefits 5,331,998 5,157,000 BOCES 2,762,800 2,447,300 Capital Assets 1,910,000 1,870,000 Materials/supplies 389,775 464,250 Other 881,252 935,100 Transportation 1,381,000 1,369,000 Utilities 830,000 794,500 Total $ 23,478,600 $ 23,415,600

  4. H.S. Guidance position not replaced

  5. Five Year Budget Plan Draft 4-3-12 Equals $2.5 mil to cut Equals 19fte still to cut .9 .7 .7 .5 .4 .2 Equals $1.8debt service fund Leaves .7 in Debt Serv.

  6. Breakdown to Balance Budget 2012-13 DRAFT – 4-3-12 Reserve Balances as of 6/30/11 Est. 2016-17 Workers Comp $ 811,380.07 850,000 Unemployment 436,581.41 38,000 Encumbrances NA Retire. Contributions 458,649.44 400,000 Employee Benefit 367,033.95 350,000 Insurance 727,722.02 750,000 04 Cap Projects 1,286,655.23 0 07 Cap Projects 4,105,725.77 1,000,000* 11 Cap Projects 200,000.00 1,000,000 Debt Service 3,246,779.33 700,000 Historical Range Yr. End FB FIVE YEAR PLAN 10-11 11-12 12-13 13-14 14-15 15-16 16-17 BUDGET 23.8 23.4 23.5 23.4 23.5 23.5 23.6 Fd/Res Bal 1.4 1.7 1.2 1 .9 .7 .5 Levy 9.9 10.6 10.9 11 .1 11.3 11.5 11.8 St Aid 12.2 11 11.2 11.2 11.2 11.2 11.2 Other .1 .2 .1 .1 .1 .1 Tax Inc. % 2.57 6 2.6 2 2 2 2 Tax/1000 24.25 25.5 26.2 26.5 27 27.5 28 $ Cuts needed .8 1.2 .8 .5 .5 .7 .8 Unappropriated fund balance at 4% or $936,624.73* Note: all figures in millions except where labeled * Assume a capital project for cash done beginning 2015

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