001All right, we're add our assistant superintendent of business due to the budget [Music] presentation. Is it still echoing? All right. He's looking for a clicker. That's okay. I'll talk about a few things before we get to the clicker part. So, um, I presented the budget. Now, this will be my third time. Um, not a lot has changed, but I want to put some things or preface some things. As most of you may or may not know, the governor and the legislative body have not approved a budget for the state. What does that mean for us? Um, not really a lot. Um, from what I'm hearing from all the people that I know with their ear to the ground, um, both the assembly and the senate also wanted to increase foundation aid schools just like the
002governor. So, the likelihood of us having more in foundation aid is high and very unlikely we would. So, that is the only area that would be affected by the state um budget. So, we're going to go forward with what the original governor's budget was at this time. If we get more, it'll go towards our fund balance just like it has in the past. If we get less, we'll make adjustments to our spending. Um, you can go to the next. Um, all right. Just to bring us all back to center, why we are here, why why do we have a budget? It's our mission, our vision, and we're here for students. Um, I won't read it for you because we've seen it before, but that's why we're here. What do we support? Student programs. These are
003the different things that we've been working on to make sure we can keep continue to support and integrate into our budget as a governor. So, I changed this to say projected because this is what we are presenting as a recommendation for the board to adopt. Um we are projecting 80,470 1116 just an increase of about 2.32. Um we did have some late breaking expenses that I mentioned the last time I presented those are still the same. Um and our revenue projections are still the same as well. So then we look at our breakdown of the budget summary. our projected expenditures as we said on the the slide before and then our revenues. What does that include? It includes our property tax levy which the board um has approved for me to go forward with the
0044.16% increase that is captured here. So this is 4.16% higher than last year uh which is yielding about $1.8 8 million, almost $2 million. Our state aid, which is obviously estimated. Again, like I said at the beginning, the governor's budget is what we utilized. And then other miscellaneous things are going to be things like interest, interest on taxes collected, tuition, and things of that nature for a total projected revenue of 76 million, which leaves us a gap or a shortfall of about 4 million. And we're proposing to use appropriated fund balance, so leftover savings from this year, and um about a million dollars, which is $400,000 less than last year. It's current year 2425 in reserves, which will get us to a zero deficit. Can I just ask a question? You mind uh putting on
005spot? So, if you don't know, just wondering what was the uh the increase of 1.8 8 million. What uh what expenditures were like the largest expenditures for that? Are you talking about on Oh, no. That's property tax, right? Are you talking about this increase? Yes. The 2.32 the increase in expenditures. Um that's going to be primarily our salary. Yep. Contractual obligation. Thank you. Yep. So this is the state aid that was projected. The middle column is going to present what the governor had presented to us in January. Again, these numbers may change a little bit. I will say as an aside and some preliminary projections that I was able to utilize through some of our state agencies that help support us to project um our building aid that we have captured at a higher rate
006does in fact show a higher rate um when we get to our final state aid uh numbers. So we will see this increase not as bad not as high as this but we won't see as low as that. Um to bring everybody back to remember why is this highlighted? Uh we did our $64 million project. It's not entirely complete. The documentation that we completed was completed in December. These numbers are based on numbers we've reported to the state in November. So that month difference didn't allow for it to be captured here. Therefore, we use our you can't see that here, but Rick Tims Incorporated is our final or fiscal advisors. uh they look at all of our debt and project out what we would get in state aid. And this is their number based on
007submitting of final cost reports in December. This is our property tax cap calculation. There's a lot of factors that go into it. Um we have our growth factor. So up here, you may not notice up here, this is our current year tax levy, what we levied in 2425. We grow it by 2.24% that is set by the state brings us to the 45 million. We add in the pilots that we received this current year and subtract out the um exclusions we had last year to get our base to grow by our 2% 002%. Gets us here minus our pilots we're expecting. Pilots are payments in lie of taxes. Therefore, it comes out of the tax levy, reduces it. Add in our this year's exclusions, which are a little bit higher because we have a little
008bit more debt on the books, brings us to our allowable um increase of 4671816, which is a change of 1.8 or almost $2 million. 4.16. That's what's behind this box. For the people in the room, you can't see it. People on the TV might be able. What does that mean to the taxpayer? That's what the bottom line is, right? What does this mean for me? I live in the town of Marble Town. I don't actually, but if I did, um, and my tax rate in 2425 was 19.327673, my annual taxes would have been 5,798 on a $300,000 assessed home, fully assessed home with current equalization rates. Equalizations rate helps to make it fair for everybody. No exemptions are considered in these numbers. If I increase that by the 4.16, your new tax rate will be
00920.13208 approximately, which will bring you to $6,000 on a $300,000 house, which is an annual change of $242 broken down by the month, about $20 a month. What makes up our expenditures is kind of what you were asking me earlier. Um what is probably my most prized thing to say and thing we should always tout is 75% of our budget goes to program. 75% of our budget is supporting students. The other percentage supports administrative and our debt. This is the breakdown of the three parts. Program component what it what it includes. As you can see across the board, total program increase is 3% which is less than the 2.2 or higher than the 2.32. It's because we look at all three parts together. The program is what's driving our increase though. Here you'll see a
010negative 1%. This includes also our buildings and grounds and anything that has to do with our facilities. And then this is our central services, instructional supervision, curriculum and employee benefits for those people in those realm. And that's a 5% increase. These are our reserve balances. As I mentioned earlier, we are proposing to use a million dollars out of reserves to help support the gap. In this current year, we put out for 1.4 million out of these reserves. Once that money has been utilized in the 2425 year, this is what the projected balance is remaining. If we take out the money as suggested, we'll have a million dollars left. I'll point out that there was another presentation where I had a lower number here. These numbers are what was on our financial statements published on our
011website. This So you don't mean we'll have a million dollars left. That means we're taking a million this year. Means we'll have about 15 million left. Correct. We have 16 million to start in July. We're going to take a million out. My intention, however, is if we have more left over, we would put back into reserves. That will be at the next budget um and audit committee meeting. I want to put out a plan for the reserves. That's my question. And you're still Sorry, D. No, no, that's fine. You're still anticipating that we'll have a a pretty healthy fund balance at the end of this year, correct? 5 million roughly. Yes, just about. Thank you. Yep. We're using three of it to support the budget and I don't project us to have that in the
012206 25 26 school year. So, we'll have to make different conversations as we get to it. But, this is where we're starting. And if we get additional foundation aid, then that would go back to the fund balance you're saying. Correct. And we would roll that into the 2526 budget. Yep. We'll make adjustments as we see money moving for sure. Oops. Sorry. So, we're making it pretty far in our budget timeline. We're getting there. This is where we are today. Um, and we have just about a few weeks left and then we'll be v voting on our our budget. Um, so as long as the board adopts this evening, we will keep moving forward. Any questions other than what I've already heard? No, I just I would just like to reiterate um thank you um to
013you, to Paul, to the administration. I know that this is a challenge um and and we thank you very much for putting it together having it ready early uh enough for us to meet today and um and really the clarity that you've projected in this each each time. Thank you. Just to add to that I think the fact that we have had what two meet three meetings already where we've gone through this level of detail and I think that's the reason at the board we don't have any questions tonight because we've already had our budgets answered. You made adjustments along the way. Really well done. I think budget planning issue. But thank you to you, Tabitha, but also the budget committee as well. Appreciate it. We do it together. Yep. Well done. Good thinking. Budget
014adoption. recommend a motion that the board of education adopt the budget for the 25% school year in the amount of give the exact number that is 80,470,16 as presented I'll make the motion second any discussion all in favor. Any oppose? Motion carries. Thank you everyone. recommend a motion that the board of education approve personnel report has presented. Make the motion. Second. Any discussion? All in favor? Any oppos? Motion carries. Motion carries. Re motion that the board of education approve the administrative leave of absence for employee number 00712 as presented. I'll make the motion. I'll second. Any discussion? All in favor? Any oppose? Motion carries. Clerical substitute approval rate recommend motion upon the recommendation of the superintendent of schools to appoint employee at a substitute rate of $22 per hour for technical knowledge effective April 9th
0152025 from July 31st 2025 as presented. Make a motion second. Any discussion? All in favor? I. Any oppose? Motion carries. I recommend motion that the board of education approve the revised 2425 school calendar as presented. Make a motion. A second. Any discussion? Does this have the half day um on it? I I don't have I didn't look at it with the half days. Yes. Do we want to add them so that it's done? Yes. Um so just for the I'm sorry. What? It's just for the element. But do we want to add that on here? Yes. It'll be a separate motion. We have another meeting too. We can do it then on that. It doesn't go on that type. Okay. Okay. Perfect. Thank you. Sorry. All in favor? Any oppose? Motion. Motion carries. Um recommend
016a motion that board of education move into executive session to discuss the employment issue of particular individual motion. No board action will take place after executive session. Make the motion. Any discussion? All in favor? Any opposed? Motion carries. Thank you.