Preliminary Budget Update

1
Marple Newtown School District

• Preliminary Budget Update
• March 10, 2015

2
Timeline

• January 29, 2015 Deadline - Preliminary Budget
  Available for Public inspection ( At least 110
  days before primary election)
• January 13, 2015 Special Voting Meeting
• Vote to Make Preliminary Budget available
• Vote on Resolution not to exceed the Index
• February 6, 2015 Deadline to give Public
  notice of intent to Adopt Preliminary Budget -
  10 days prior (January 30, 2015)
• February 18, 2015 Deadline to Vote on Prelim.
  Budget
• Special Voting - February 10, 2015 Budget and
  Finance Meeting
• 20 Days Public Inspection with 10 Days Published
  Notice
• February 26, 2015 Deadline to publish Public
  Notice of intent to file for referendum
  exceptions
• March 5, 2015 Deadline to Submit requests for
  Referendum exceptions to PDE.

3
Timeline

• March 20, 2015 Deadline to submit referendum
  question
• April 28, 2015 Proposed Final Budget Adoption
  (Tentative)
• April 29, 2015 Proposed Final Budget made
  available for public inspection and notice of
  intent to adopt is published.
• June 23, 2015 Final Budget and Resolution
  Adoptions - (tentative)
• The regular meeting on May 26, 2015 is too early
  to adopt final budget. Need at least 30 days
  after Preliminary is adopted.
• The latest date for Proposed Final Budget
  adoption is May 29, 2015 and June 30, 2015 for
  Final Budget.

4
Act 1

• Index
• 2015-2016 - 1.9 _at_1,088,000
• Average of ECI and SAWW Rate
• Resolution not to Exceed the Index
• Exceptions
• Grandfathered Debt Exception? 2015-2016
• Special Education costs increases that exceed
  index less increase in state funding?
• 2015-2016 - 584,096
• PSERS payments if the increase is greater than
  index
• New Salary Base Set - cannot increase
• Lower of 2010-2011 or 2011-2012
• Exception 620,000 Estimated
• Actual 622,110

5
Major Revenue highlights

• Local Revenue
• Assessment Growth
• Preliminary - 362,000
• Proposed Final 148,000
• 2013-2014 Assessed Value 3,297,119,741 July
  2013
• 2014-2015 Assessed Value 3,325,431,975 -
  November 2013
• 2014-2015 Assessed Value 3,334,586,359 -
  January 2014
• 2014-2015 Assessed Value 3,355,926,359
  November 2015
• 2015-2016 Assessed Value 3,363,501,823 -
  January 2015
• Interim, Transfer, Delinquent Taxes
• Current Projections Under Review
• State Revenue
• Retirement Subsidy 808,000
• Social Security Subsidy 30,000
• Total Additional Revenue - _at_1,348,000

6
Major Cost Drivers

• Budgetary Reserve Policy 1
• Salaries - 642,000
• No Retirements Final Budget
• Benefits - 1,880,000
• Medical 1st look - 0.26
• 2nd Look (2.45)
• Prescription - 187,000 _at_ 13
• PSERS - 1,616,000
• Net 808,000
• Computer Leases 70,000
• Debt Service - 318,000

7
Preliminary Budget Summary

• Revenue 73,600,000
• Expenses 75,700,000
• Amt. To Balance 2,100,000 _at_3.67
• Act 1 Index 1,088,106
• Est. Exceptions 1,206,206
• Est. Total 2,294,312
• Shortfall 0.00

8
Next steps

• Workshops and Presentations
• Staffing Projections
• Staff/Program needs
• Attritional Savings - Retirements
• Building/Department Budgets
• Textbook Adoption
• Updated Projections Revenue and Expenses

9
Questions and Discussion