1 / 12

Solanco School District Preliminary 2014-15 Budget April 28, 2014

Solanco School District Preliminary 2014-15 Budget April 28, 2014. 2014-15 Revenue Budget Highlights. Property Assessments: Low but steady growth Earned income tax recovering to pre-recession; 1.25 % estimated growth from 13-14 to 14-15 (Est $80K)

garren
Download Presentation

Solanco School District Preliminary 2014-15 Budget April 28, 2014

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Solanco School DistrictPreliminary 2014-15 BudgetApril 28, 2014

  2. 2014-15 Revenue Budget Highlights • Property Assessments: Low but steady growth • Earned income tax recovering to pre-recession; 1.25 % estimated growth from 13-14 to 14-15 (Est $80K) • State Ready to Learn Grant ($431K) vs Basic Education Allocation ($0 proposed) • Total state revenues equate to Pension increase only • Federal; Medical Assistance and Title I

  3. 2014-15 Expenditure Highlights • Pension Increase: $1,086,000, which is 2.1% of the 3.04% total budget-to-budget increase • Salaries: An Estimated 1% increase • Special Education increase: Continued cost pressures; student services estimated at $400,000 increase • Vocational Education: Total estimated increase at $98,000 inclusive of tuition and final bond issuance • Physical Plant and Transportation: Fuels / Utilities

  4. Assessment Growth: Estimated at just over ½ of 1%

  5. Earned Income Tax: Slow Recovery

  6. State Budget Pension and Ready to Learn • Solanco Property Tax increase and Local share of mandated Pension Increase offset each other (Approx. $525,000) • Total State Estimated Revenue covers the other ½ of the mandated Pension increase • State Gambling funds remain static • Est State Revenue Growth $835 M; Pension at $610 M. ----Plus Est $900 M in one time funds

  7. Ready to Learn • ABG money can be used for Ready to Learn initiatives, but Ready to Learn money can’t be used for ABG initiatives unless you are a Tier 4 District • $100 Million of ABG funds (unchanged from 2013-14) • $240 Million new proposed to be distributed to Districts and Charter Schools via formula. • Approximately $221 million to Districts, $19 million to charters • Proposing ability to deduct this grant on PDE-363 • $1 million in competitive grant funds for Pennsylvania’s high-performing public schools to analyze and publish best practices that have proven to increase student achievement (Governor’s Expanding Excellence Grant Program)

  8. Ready to Learn Permitted Uses by District SPP Score

  9. Special Education After 6 years of flat-funding at $1.026 billion, the proposed budget recommends a $20 million increase to the line item, nearly a 2% increase.

  10. PlanCon • Authority Rentals and Sinking Fund Requirements: The PlanCon line item was again level-funded at $296 million.

  11. Only One Third of Slot Machine Revenue Goes to Property Tax Relief

  12. Act 1 Index Forecast History and Forecast of the Act 1 Base Index (and Components) Source: Independent Fiscal Office Analysis of Senate Bill 76 and House Bill 76

More Related