2019-2020

Fourth Draft Budget

April 2, 2019

Evolution of the State Budget January 2019 April 2019 – Final Budget

NYS 2019-2020 Budget What is in it for Kings Park?

Net Foundation Aid increase of $82,260 (0.75%) from 2018-2019 allocation

$54,840 increase above the Governor’s Proposal in January

(Source: 1/15/19 & 3/30/19 State of New York Aid

Projections)

Tax Cap is now permanent, and still contains verbiage that connects it to inflation (CPI)

Ability to create a TRS Reserve

2019-2020 Fourth Draft Budget

2018-2019 Adopted Budget $92,168,700

2019-2020 Fourth Draft Budget $93,880,803

Budget to Budget Increase 1.86%

Revenue $93,880,803

Tax Levy Increase 2.47%

Current Budget Gap $0

We left off last time with a budget gap of $258,223.

Fourth Draft – What’s Changed?

Small amount of additional State Aid

Additional applied fund balance

Other expense code adjustments BOCES charges

Health insurance

Professional development

Unemployment

Foster tuition

Dental insurance

Life insurance

Revenue Projections

Revenue2018-2019

Budget

Projected

2019-2020

Budget

$

Difference

%

Difference

State Aid Excluding Building Aid 15,859,814 16,255,291 395,477 2.49%

Building Aid 3,053,297 3,312,569 259,272 8.49%

Total Aid 18,913,111 19,567,860 654,749 3.46%

Interest Earnings 75,000 110,000 35,000 46.67%

Rental Income - San Remo 243,860 251,175 7,315 3.00%

Compensated Absence Reserve 250,000 0 -250,000 N/A

Workers Compensation Reserve 250,000 0 -250,000 N/A

Debt Service Reserve 250,000 0 -250,000 N/A

Other Revenue 215,000 240,000 25,000 11.63%

Fund Balance 2,318,345 2,336,167 17,822 0.77%

Subtotal 22,515,316 22,505,202 -10,114 -0.04%

Tax Levy (2.47% increase) 69,653,384 71,375,601 1,722,217 2.47%

92,168,700 93,880,803 1,712,103 1.86%

2019-2020 Working Budget

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About $93.9M

Capped at 2.47%

EXPENDITURES REVENUES

Other Revenue

Allows for maintenance of current programs & services

3.46%Increase

Tax Levy Impact

Average

Taxpayer

Estimated tax rate: $147.61

The tax levy increase of 2.47% corresponds to the following tax increases per current assessed valuation:

This analysis assumes that assessed valuation for all property in Kings Park remains at the current level.

For questions on your tax bill, visit: http://www.smithtownny.gov/index.aspx?NID=180 or call Deanna Varricchio, Receiver of Taxes, at: (631) 360-7610.

Assessed

Valuation of

Home

2018-2019

School Taxes

Estimated

2019-2020

School

Taxes

Estimated

2019-2020 Tax

Increase per

Homeowner

Estimated

Monthly Tax

Increase per

Homeowner

2000 $2,881.02 2,952.18 71.16 5.93

3000 $4,321.53 4,428.27 106.74 8.90

4000 $5,762.04 5,904.36 142.32 11.86

5000 $7,202.55 7,380.45 177.90 14.83

6000 $8,643.05 8,856.54 213.49 17.79

7000 $10,083.56 10,332.63 249.07 20.76

8000 $11,524.07 11,808.72 284.65 23.72

9000 $12,964.58 13,284.81 320.23 26.69

10000 $14,405.09 14,760.90 355.81 29.65

11000 $15,845.60 16,236.99 391.39 32.62

12000 $17,286.11 17,713.07 426.96 35.58

Budget Overview This budget supports:

Maintaining the curriculum and programs that support academic excellence and the District’s Mission

Maintaining extracurricular activities, art, music, and sports

Technology enhancements – including year one of a multi-year Chromebook initiative

Mental Health – one additional psychologist

Class Size Reduction

Safety and Security – additional vestibules at PF, FS, and RJO, as well as a new security booth at KPHS

School bus purchases (4 small gas vans, 2 wheelchair accessible gas vans, and 1 large propane bus)

Proposed tax levy increase that is within tax cap limitations

May 21 PropositionsPROPOSITION 1

School District Budget

PROPOSITION 2

Creation of a new Capital Reserve Fund

The approval of this proposition and fund does NOT have any impact on the 2019-2020 budget or tax levy.

Proposition 2Creation of Capital Reserve Fund

The proposed capital reserve fund, known as the “Facilities Improvement Program 2019,” is needed to provide for facilities improvements that are not covered by the district’s multi-year facilities/bond plan.

Capital reserve funds require voter approval to create, and then voter approval to spend.

Much like a dedicated bank account, should the residents approve this fund, the district would transfer monies into this account as we are able.

Capital Reserve Would Support Potential construction, repair, and remodeling at the

bus garage

Potential propane fuel filling station

ADA and handicapped accessibility district-wide

Lighting, electrical, and switchbox upgrades

Roof repair and replacement

Gymnasium floor repair and replacement

Security enhancements

Paving and parking lot maintenance, repair, and construction

Transportation BuildingsJoseph C. Merola Transportation Center

Bus Garage (1981) Transportation Trailer (25+ years old)

Challenges:• Deteriorating trailer and facilities• Two mechanics bays insufficient• Storage space

Historical Budget DataSchool Year

Budget Amount

Percent Increase

Tax Levy Amount

Percent Increase

2010-2011 $77,759,349 2.11% $57,938,037 1.87%

2011-2012 $79,111,079 1.74% $59,629,828 2.92%

2012-2013 $80,832,817 2.18% $61,120,249 *2.50%

2013-2014 $82,874,728 2.53% $63,259,458 *3.50%

2014-2015 $83,562,788 0.83% $64,344,245 *1.71%

2015-2016 $84,729,293 1.40% $65,631,130 *2.00%

2016-2017 $86,655,918 2.27% $66,420,917 *1.20%

2017-2018 $88,547,572 2.18% $67,801,784 *2.08%

2018-2019 $92,162,200 4.08% $69,653,384 *2.73%

2019-2020 $93,880,803 1.86% $71,375,601 *2.47%

*Denotes years in which the tax cap law was in effectNOTE: 2019-2020 budget amount is not yet final/adopted

Important Dates

Budget Adoption Tuesday, April 16, 2019

Budget Hearing Tuesday, May 14, 2019

Budget Vote Tuesday, May 21, 2019

KINGS PARK SCHOOLS, A SMART INVESTMENT

KPCSD

Athletics

Heritage

Museum

Transportation

Aides & Security

WTRMS

Teachers

Special Education

kpHS

Clericals

Fort Salonga

PTA

TA’s & Nurses