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Galloway Township Schools

2014-2015 Budget Budget Update February 24, 2014. Galloway Township Schools. Fund balance 13-14 3,520,222 14-15 2,799,192 (excess @ 6/30/12) 721,030 (or 1.3% of 13-14 budget) High renewal projection for health benefits Continuing to fund capital reserve. Current Budget Issues.

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Galloway Township Schools

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  1. 2014-2015 Budget Budget Update February 24, 2014 Galloway TownshipSchools

  2. Fund balance • 13-14 3,520,222 • 14-15 2,799,192 (excess @ 6/30/12) • 721,030 (or 1.3% of 13-14 budget) • High renewal projection for health benefits • Continuing to fund capital reserve Current Budget Issues

  3. Explanation of Tax Levy Cap • 2% base cap (1% on the budget - $585k) • Health benefit adjust (approx $164k) • Banked Cap • 13-14 $ 0 • 12-13 $ 879,118 • 11-12 $ 0 • Split Year Levy – effect on rate • Township Property Revaluation Tax Levy Cap

  4. No details available • Current budget assumes flat state aid • 2013-14 Calculated Aid – $28,766,318 • 2013-14 Actual Aid – $23,572,868 • Governor’s Budget Address 2/25 2PM • State aid released 48 hours later State Aid

  5. Awaiting SDA grant offers for awarded projects • Priority is roofs at Roland and S’ville • 18 months to accept grant offer • Total SDA grants amount to $2.4 mil • Local share amounts to $2.66 mil • SDA meeting Wednesday 2/26 in Robbinsville • Summer 2013 completed Rann roof and parking lot Capital Projects

  6. Committee meeting held this past week • Updated committee on progress • Security Film • Recommendations for budget include: • School Resource Officer • Camera expansion (door and school-wide) • Long term planning – entryway reconfiguration School Safety and Security

  7. Continued requirements related to • Common Core • PARCC • Principal and Teacher Evaluation • Instructional Technology • iPads 3-5 • Laptops 6-8 • Additional Technology Teachers Curriculum Instruction and Assessment

  8. Class Size

  9. Budget Revenues

  10. Budget Components

  11. Governor’s Budget Address 2/25 • State Aid Released 2/27 • Committee meetings if necessary • Budget Update (w/state aid) 3/17 • Submission of Budget to DOE 3/17 • Regular public meeting 4/14 • Public Budget Hearing 4/28 Next Steps

  12. Questions / Comments

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