Idea Transcript
Great Valley School District
2017‐2018 Budget June 5, 2017
Great Valley School District Proposed Final Budget 2017‐2018 $120.00
$95.65
4.34% Increase
$99.8
$100.00 $12.20
$13.35
$80.00 $60.00 $40.00
Pension Costs $83.45
$86.45
$20.00 $0.00 2016‐2017 Final Budget 2017‐2018 Proposed Final Budget
Remander of Budget
Great Valley School District Proposed Final Budget 2017‐2018 Federal, $0.6 Reserves, $3.6
Revenue
State, $14.9 Local State Reserves Federal Local, $80.7
Great Valley School District Proposed Final Budget 2017‐2018 Expenditures
Debt, 9.30%
Transportation, 4.60%
Operating Costs, 5.40% Other Schools, 7.70%
Budget Reserve/Planned Transfers, 0.70%
Staffing, 68.80%
Infrastructure, 3.50%
Great Valley School District Preliminary Budget 2017‐2018 Millage Rate 25.00 20.80
0.0% Increase
20.80
20.00
15.00 2017‐2018 Proposed Final 2016‐2017 Final 10.00
5.00
‐
Staffing Adjustments • No Retirements • 9 positions will be filled from within (replacing teachers on leave) – Net reduction in Staff of 6 teaching positions – 3 will be used to support the STEAM iniative in the Elementary Schools
Great Valley School District Capital Project Fund Sources & Uses (10 Year Plan) 2015‐2016 2016‐2017 2017‐2018 2018‐19 Budget Budget Budget Budget
2019‐2020 2020‐2021 Budget Budget
2021‐22 Budget
2022‐27 Budget
2017‐27 Totals
Sources 1Capital Reserve Fund Balance General Fund Transfer/Other 2Revenue* 3Interest Revenue
4Total Sources
8,607,646 7,243,538 2,145,337 1,377,407 3,263,234 2,709,153 2,709,153
8,067,151 20,271,436
2,000,000 1,930,000 1,930,000 5,330,000 5,330,000 5,330,000 5,330,000
26,650,000 49,900,000
16,806
14,487 15,385
15,836
4,408 26,984
27,997
10,624,452 9,188,025 4,090,722 6,723,243 8,597,642 8,066,138 8,067,151
60,000
150,610
34,777,151 70,322,047
Uses 5Maintenance/Capital Assets
1,249,290 4,644,000 944,800
4,669,500 2,657,750 2,131,162 2,131,162
6Technology 7Activities 8Land Acquisition 1 2Other (Debt Reduction, Etc.)
2,093,842 1,427,000 1,034,500 1,466,000 2,342,000 2,202,000 1,327,000 37,782 40,000 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐
75,061,000 87,595,374 8,380,001 16,751,501 ‐ ‐ ‐ ‐ ‐
‐
1 3Total Uses
3,380,914 6,111,000 1,979,300 6,135,500 4,999,750 4,333,162 3,458,162
83,441,001 104,346,875
1 4Capital Reserve Fund Balance
7,243,538 3,077,025 2,111,422 587,743
(48,663,850)(34,024,828)
3,597,892 3,732,976 4,608,989
Act 1 Index vs. Millage Rates vs. Social Security Increases Fiscal Year
Act 1 Index
GV Millage Increase (%)
2017‐2018
2.5%
0.0%
0.3%
2016‐2017
2.4%
2.4%
0.0%
2015‐2016
1.9%
1.6%
1.7%
2014‐2015
2.1%
2.1%
1.5%
2013‐2014
1.7%
0.0%
1.7%
2012‐2013
1.7%
2.9%
3.6%
2011‐2012
1.4%
2.9%
0.0%
2010‐2011
2.9%
1.5%
0.0%
2009‐2010
4.1%
1.6%
5.8%
2008‐2009
4.4%
2.7%
2.3%
2007‐2008
3.4%
2.7%
3.3%
2.59%
1.85%
1.84%
Averages
*CPI Increase
*Social Security Cost‐Of‐Living Adjustments – Bureau of Labor Statistics
Comparison of Avg. Annual Tax Increase for Chester County Schools Since Act 1 2016‐17 Tax Rate
Octorara 38.63
1.026
Coatesville 33.4598
0.776
Kennett 29.241
0.767
Oxford 30.84
0.759
Unionville‐Chadds Ford 27.69
0.720
Owen J Roberts 29.6305
0.636
Phoenixville 29.15
0.603
Tredyffrin‐Eastown 21.7423
0.524
Avon Grove 29.04
0.522
West Chester 20.0982
0.494
Downingtown 27.182
0.403
Great Valley 20.80
0.383
0.000
0.200
0.400
0.600
0.800
10 Year Average Annual Millage Increases
1.000
1.200
2016‐2017 Tax Rates Chester County Schools 45.0000 40.0000 38.6300 35.0000
33.4598 30.8400
30.0000 25.0000 20.0000
29.6305 29.2410 29.1500 29.0400
27.6900 27.1820 21.7423 20.8000 20.0982
15.0000 10.0000 5.0000 0.0000
* District with no Earned Income Tax Revenue
Tax Revenue Re‐Captured by District Initiated Tax Appeals Fiscal Year
Total
Total Commercial Parcels Appealed
Tax Revenue Re‐Captured
2015‐2016
14 Parcels
$1,661,251
2016‐2017
12 Parcels
$674,157
2017‐2018
20 Parcels
$833,671
46 Parcels
$3,169,079
Impact of District Initiated Tax Appeals on Median Great Valley Taxpayer Fiscal Year
Actual Tax Increase
Act 1 Index
Total Millage
Additional Millage Needed with No Tax Appeals
Savings for Median Great Valley Taxpayer (Assessment 201,000)
2015‐2016
1.6%
1.9%
20.32
0.45
$90.45
2016‐2017
2.4%
2.4%
20.80
0.18
$36.18
2017‐2018
0.0%
2.5%
20.80
0.23
$46.23
Cumulative Impact
4.0%
6.8%
0.86
$172.86*
(Avg. 1.33 % per year)
(Avg. 2.67 % per year)
*This is the total that the Median Taxpayer in Great Valley is saving as a result of the School Board insuring that all commercial property is fairly assessed
On the Budget Calendar: 2017‐2018 Budget Meetings • June 5: Special Board Mtg. – Final budget adoption (must be before June 30) – We adopt in early June to enable taxpayers to pay in installments …First installment is due July 15th, so this give us time to print bills and mail ..so that people have 30 days before the first installment