School District Efficiency StudyMorrisville-Eaton Central SchoolDistrict Advisory Committee MeetingFINANCESAUGUST 20, 2014 Castallo and Silky Education Consultants Jessica Cohen & Alan Pole, Consultants
Follow Up From Previous Meetings Castallo & Silky-Education Consultants
Follow-up from Previous Meetings • Enrollment projections
Enrollment Projections Update • 2013 Live Birth Data = 47 • Projection based on 5 year average was 57 • Changes K – 12 enrollment projections for 2018 to 2020 2018-19 from 744 to 733 2019-20 from 752 to 741 2020-21 from 765 to 752
School District Finances • School district finances are like personal finances in many ways……..they have money coming in (income/revenues), they have money going out (expenses/expenditures), and they have (hopefully!) savings accounts (savings/reserves)
Financial Summary • Program $0 • Transportation $0 • Staffing -$170,560 • Facilities $1,100,000 • Net Increase $929,440
Tax Impact of Building Addition • The district does not have any money in a capital reserve account • 1% increase in taxes generates $35,000 in additional revenue for the district • $929,440/$35,000 =26.6% increase in taxes to fund the addition
Something to Remember! • Even if the district decides not to move the elementary school to the middle/high school campus, the 2010 building condition survey identifies the following work to be considered: • Middle/High School-$3,889,264 • Elementary School - $4,469,806 $8,480,838
Study Recommendation • It is recommended that the Morrisville-Eaton Central School District not close the Edward R. Andrews Elementary School and move the elementary grades to the middle/high school campus. • It is recommended that the district's facilities committee reconvene to review the building condition survey and provide input to the Board of Education regarding future capital needs.
“Take Aways” • Approximately 93% of school district revenue comes from state aid and local taxes • The school district budget has remained relatively constant over the past 5 years • The district is receiving less state aid today than it was 5 years ago • The district has continued to use more of its fund balance to control taxes in each of the past 5 years
“Take Aways” • It would cost approximately $1,100,000/year for the next 20 years to move the elementary school to the middle/high school campus • After accounting for program savings, the net cost of moving the elementary school would be approximately $929,440/year or an increase in taxes of 26.6% • Whether or not the district decides to move the elementary school, there will be facilities improvements to be considered of approximately $8,480,838
“Take Aways” • It is recommended that the district not close the Edward R. Andrews Elementary School and move the elementary grades to the middle/high school campus • It is recommended that the district's facilities committee reconvene to review the building condition survey and provide input to the Board of Education regarding future capital needs.