001now and we are recording. >> Okay, I will call the meeting to order at 5:00 pm. And do we have any public comments? >> I don't have anybody in a waiting room. Okay. Um, consent agenda. We have the minutes and the warrants, which there's no warrants. Um, Alan got the minutes to us today. Eric, did you get a chance to look at them? >> Yes, I did. >> Okay. Thank you. Um, can I have a motion to approve the consent agenda? >> I'll make a motion to approve. >> Thank you, Eric. >> Thank you, Alan. All in favor say I. >> I. Passed. Okay. All right. Finance. You FY27 budget update. Bnee. Let me share my screen. Um, I can't tell from my screen what you're seeing. Is it the spreadsheet of the expenditures and
002revenues? It is. >> Okay, great. All right, so um from draft one, um just a couple of things I wanted to note. Um I have included the column um that was requested for where we're projecting. Uh we're going to end FY26. So I have that shaded just a little bit differently to differentiate that. >> Okay. Um the FY27 proposed column still um for the most part includes actually yeah for the most part does include estimated tuitions. I did see that Takonic in green um has announced at 21,000. So the um those lines that I have in are short by $210 each. Um so we can make that adjustment or we can let it ride. um it's not going to account for a whole lot. Um we do have uh placeholders in uh that I had
003mentioned with draft one um three for prek. One questionable for elementary. I think we are using that one right now for the student um at Floodbrook. Two placeholders um in the budget for secondary students. So, um, all in all, um, pretty much all of that stayed the same. Um, the biggest change was in the Southwest Tech announced tuition came in, um, I think it was either the beginning of last beginning of this week or the end of last week. Um, it was up more than I had expected. However, um, your six um, six semester FTE average has, um, is about a third less than what it was this current year. So that ended up being a pretty significant reduction um in the budget. So while we looked at draft one and we're looking at almost
004a little over a 15% increase, we've cut that about in half right now. So um it's about 7.6% increase. When I um jump over to the the tax calculation, um the long-term weighted ADM um we have uh Tim has gone ahead and certified that number. So that is actually an increase of almost 10 as you can see over what it is currently for this year. Now, while our actual ADM has dropped, um the long-term weighted ADM takes last year and this year, averages them together. Um but what we've seen is actually an increase um in the poverty counts and so those weights are adding um to that increase in ADM along with a couple um additional weights for sparity. So, uh, when we factor that in, um, with the estimated property yield that was recommended
005by the tax commissioner, our estimated equalized homestead rate is nearly the same. It's actually a little bit lower um, than what it is this year. When we get to the next line, line eight, our CLA has actually dropped by 9 and a half%. So with that, uh, the projected tax rate increase over the current, um, is just under 10%. Um, I did also, um, run the calculation for a penny on the tax rate is $12,200. So, I am happy to take any questions. I know I went through that pretty quickly, but basically the the tuition counts, we're um counting for all the kids that we currently have. We do have um three students that are currently 12th graders, so factoring them out. Um the three that we have in prek right now coming in, maintaining
006a three placeholder in prek. Um, and then you really at this point have two placeholders um that you can tinker with if you if you so choose. Um, we can leave them in. We can make changes. I can update, you know, based on the announced tuition for uh to green. Um, but I mean if you update for the announced tuition, I mean, you're still not changing like you said. couple hundred dollars, you'd have to change it by 12,200 to change it by a penny. >> Yeah. >> Right. >> And last year, I mean, as you're well aware, there was a significant decrease, right? So, we had a over FY25, the the tax rate went down to almost a dollar. So, we were at a $144 the year before that. So, we were at 102 for
007this current year and then it looks like it'll be about 112. Um, you know, the the uh governor has already announced that he's planning to buy down taxes again. So, what that means is we'll probably see an increase to that property yield number. Um, so that'll help bring the estimated tax rate down a little bit, but I can't venture as to what that impact is going to be and if it's actually going to be the 75 million that he's speculated. >> Um, or if it'll be more or less, >> right? [clears throat] >> Can I just Can I >> I'm sorry. Go ahead. >> Yeah. So comparing first budget to second budget, we're down about $98,000 in expenditure. Is that correct? >> I looked at it by percentages, not by [laughter] dollars. >> Oh, no,
008no, no, no. From the first from our meeting in December. >> Yeah. Yeah. You you had come down we're the 14 the the 1,ion425 is we were at like 1,ion525. >> Oh yeah, we were at 152479. >> Yeah. So, so [snorts] that's that's down um >> like 100,000 >> almost 100,000. And then we're we're from our approved budget of 26 to what we're projecting. We're projecting a $35,000 surplus left over from this year. >> No, not a surplus, a deficit. Actually, >> we budgeted, according to this sheet, we budgeted 1,325 and we're projecting 1,290. >> But when we compare that to what's actually coming in for revenue. So, what I um I pulled from the >> Oh, so the 35902 down below, I have to look at that. >> Correct. Right. >> I got you.
009Okay. >> Yeah. So, I I use the preliminary cash flows um from the AOE to to input what's in that general state support grant. Um >> Okay. >> Yeah. And that's where we are. >> Okay. [clears throat] So, and then where do we get the 52,972 offsetting revenue? That is the the current available fund balance of 48,972 plus um an estimated $4,000 in interest income. >> Okay. >> I can pull it back up if it's helpful. >> I'm just I'm just trying to digest the numbers here. >> Yeah. Um, and we we have a a balance of about 228,000 in our special reserve fund. >> Um, Sandy did make the transfers. So, yes, the tuition fund is 228 now. Um, and your bus fund is 113,000 [clears throat] roughly. Not exactly, but >> okay. because
010at the last meeting we had talked about maybe taking some of that 228 and applying it to the budget to reduce taxes, but I'm not sure that's necessary at this point. >> Yeah. I mean, if you wanted to reduce the tax rate, I would I mean, I think we could probably pull out one of those placeholders, possibly even the two, and just budget for the kids that we know of as of today. Um, >> and then just use that 228 if we have any >> going forward. >> Right. [clears throat] >> I'm sorry if if Alan already asked this question, but when I look at the adopted budget for FY26 for revenues, we have a fund balance that we were going to use of 76,092. >> So why isn't it un using why isn't it
011under the projected actuals for FY? It isn't it isn't actual money that comes in and gets counted as a revenue that just helps to offset the amount of money that we're actually raising from the general state support grant. So, it's money that you kind of have in the bank, but I can't necessarily count it in here as additional money that's come in. >> Okay. All right. Mhm. [clears throat] >> Um, so what do you guys think about removing those two placeholder kids? >> I think I'd be in favor of that before we take some of the 228 and apply it to the budget. >> Because your placeholder kids, how much are we talking about in money? Like 40,000? >> Yes, I can tell you exactly. Um yes 42,746 is what those two are that I
012have in um at the secondary level. >> Right. So that's about three and change >> since reducing right. >> Yep. So if you can do that and then also make the correction for the um takonic and green >> um uh what is the debt service that we're proposing $500 for? We can come that can come out if you want to. It's just been a placeholder that's been there and carries over from year to year. If Sandy ever had to borrow, which she never does. Um it would be interest that in an interest expense if she needed to take out like a line of credit or anything, >> right? But again, that's not >> that honestly if you if you want to. >> Guys, what do you think? I don't think $500 is a huge impact
013one way or the other on >> Yeah, it's a leave it in, take it out. It's a >> Yeah, >> probably makes more sense for us to leave it in, I think, just in case. >> Yeah. And honestly, you know, if we there was some kind of expense that we incurred with um you know, if the town wanted us to chip in a little bit towards the annual report printing or anything along those lines, you could use that money, >> right? >> For that or any printing like if they wanted us to chip in for printing of ballots or [clears throat] >> Okay. 9.6% were under the governor's projected 12%. So, we're doing well, >> Right. So, what do we do we need to vote on this, Renee? >> If you would like to do
014that, I could actually make these changes on the fly right now if you wanted me to. >> Just Just give me some numbers that were I think we vote on. Our vote is to approve a budget to bring to the voters and then we ultimately approve the budget from the floor on the annual day of the annual meeting. [clears throat] >> Right. Um so do you want me to shift the placeholder that I have? Um, the elementary one I had sitting at the village school, but I could throw it on Floodbrook at the 21,000 and that would be kind of dialing you in more accurately. >> Sure. Okay. And we'll take that one out. So, that brings me to I'll pull this up on the screen for you to see. So, I just I pulled
015out the two secondary um placeholders. [clears throat] So, the budget then comes to 1,382,235. which is an increase over the current budget of 4.28%. And then if I jump over to the tax calculation, that brings your estimated tax rate down to 10857 or about a 6.2 cent increase over the current So the expenditure budget that you would be asking the voters to consider would be the the 1,382 235. [clears throat] >> Can you do a tell me what the education spending increases from last year to this year? >> Yep. 6.73%. >> Okay. All right. Um, do I have a motion to approve the budget as presented or amended, I should say? >> Eric, >> thank you. >> Second. >> Thank you. Any further discussion? No. Okay. All in favor of the budget to bring to
016the voters say I. >> I. Thank you. So, I'll draft the warning. Um, and just make sure I'll have Sandy take a look at it, too. just need to know when you would want to meet to I mean it's going to take you all of probably 2 minutes to review it and ratify it. Um but we just need to get that on the calendar. The I need to have it to Sandy. Um it has to be posted um the first day it could be posted is the 22nd of January and then the last day which ends up being a Sunday is February 1st. So you don't have to meet within that time frame. I just I need to get the the draft warning prepared and then you would just need to meet to approve it.
017And then I think Celeste I think I've just sent it to you via email and then you've circulated getting signatures on it maybe. >> Yep. >> A number. >> Yep. [snorts] >> I can do that. Um yeah I the only day I can't do anything is next Wednesday. So, um, but any other date or time would work, especially if we're doing it remotely. >> Yeah. >> You know, um, okay. Uh, policies. >> So, this is board member conflict of interest. It's policy number 7205. This is a required policy. We've checked in with VSBA to make sure of that and we are just bringing it to uh Arlington Sandgate Emmy Elementary because the last time this was adopted uh was in 2011 and we are in a different configuration now. So we're just asking for this
018board to uh adopt this policy. >> Um okay so that tonight we are adopting it. That's correct. Uh that is a good question. Do I have >> it says warn on the agenda but I don't >> but if you're all right can we just start with warned so I don't jump over myself. >> Sure. >> Okay. >> I don't So we're approving it to be warned for adoption. Is that the language? >> I believe so. >> Okay. Do I have a motion to approve the policy as presented for adoption at a future meeting? >> So moved. >> Um, so Alan, we'll go Eric for second. Thank you. Any discussion? >> Nope. [snorts] I looked at the policy, compared it to VSBAs. It the language is all the same. All that's different really is formatting. So,
019you know, nothing's changed. Um, so all in favor of approving the wall policy to be warned, >> I thank you. Passed. >> Thank you. >> Okay. Anything for FYI, Tim? >> Um, I would like you to know that um because we won't see each other until probably the end of the month, but um there's a legislative breakfast this Monday uh at central office. There will be a there's a remote link for that. So, if you'd like to participate, it'll be interesting to see who shows up. As you know, the session has started. The other thing for the good of this order is uh Senator Bongart's reached out and I have a an invitation to testify next Tuesday. There will be a there's a list of superintendent. It's not only me. Um but the general question
020is you know what would you like to have us focusing on in um the current uh session around ed reform? Uh and uh there will be an email tomorrow. Celeste, I thought it would be important to write down my thoughts so that all board members will see that prior to my testimony on Tuesday. >> Okay. Thank you. >> Okay. >> Anybody have anything else? Renee, can you send out the updated um budget with so that I I I'm going to write the report and then I will have accurate figures to go from. >> Sure. I will. >> If you could send that out to me, that would be awesome. >> Yep. >> Thank you. >> All right. [clears throat] Sounds good, folks. I'll uh move to ajourn at 5:21. We all good? >> All good.
021>> Thank you guys. >> Thanks everybody. Have a good evening.