2011-2012 Budget Public Hearing

Last Day to apply by mail

for an Absentee Ballot

is April 20th,

2011

Election Day is WEDNESDAY, April 27th

Polling Hours are 4 pm to 9 pm

Absentee Ballots must be received

by the County Bd. of Elections prior to the close of the

polls at9 pm

April 27, 2011

NEPTUNE CITY SCHOOL

DISTRICT

2011 – 2012 Budget Facts

• The School Budget supports not only the elementary school, but tuition for high school students, outside special education placements, and transportation for Vocational High School and Special Education Students.

2011 – 2012PROJ. ENROLLMENT

N.C. Elementary School 388

High School Students 157

Mon Cty Vocational Schools 15

Special Need Placement 20

Charter School 3

Total Students 583

2011 – 2012 Budget N.C. Elementary School

• Maintain all current programs;

• Continues 2 Sections in all grade levels;

• Integrated Preschool Handicapped Program and Full Day Kindergarten; and

• Average grade size is approx. 22.

2011 –2012 Revenues to Equal the Appropriations

•Revenues come four sources:

•Fund Balance $ 862,619

•Tax Levy $5,033,670

•State Aid $1,754,727

•Miscellaneous revenues $ 74,589

•TOTAL $7,725,605

STATE AID

•General State Aid was increased by 4.6% over last year. Over the last 10 years State Aid increased by an average of 1.7% per year or approximately $25,000 per year.

•This year we were awarded $78,082 more than last year.

2011 – 2012BUDGET HIGHLIGHTS

• Increased cost of Special Needs Students sent to Out of District Placements;

• Significant increase in High School tuition rate per student

• Reduction in Student Related Services

• Reduction in Transportation

• Reduction in Regular Instruction

2011 – 2012 Expenditures

• High School Costs– Tuition – Public Schools $1,533,886

- Tuition-Vocational HS 88,200

– Transportation 142,000

• Special Education Out of District– Tuition & Services $1,145,010

– Transportation 160,000

• Total Out of District Expenses $3,069,096

2011 –2012 Expenditures

•The Board has little control over 91% of the Budget:

•Salaries and Benefits are contractual and make up 48% of the budget;•Tuition and Transportation for students sent out of district, make up 43% of the budget;

•Operational and Educational Expenses make up the remaining 9% and is the area that the Board has the greatest control over.

Comparative Budgeting

• In a report prepared by the NJ Dept. of Education, the Neptune City School District ranked as fourth lowest in Monmouth County for 2011-2012 budgeted per pupil appropriations ($11,401).

• The County average for all districts is $14,472.

2011 Tax Rate

•The 2011-12 tax levy increase (excluding debt service payments) over 2010-11 is $116,290.

•2010-2011 Tax Levy for School Purposes was $4,917,380;

•2011-12 Tax Levy is $5,033,670.

•Minimum Required Tax Levy per NJ Dept. of Education is $4,917,380

Tax Levy CAP

• For the 2011-2012 school year, the State of NJ has imposed a VERY strict 2% CAP with minor adjustments, on the allowable tax levy increase. This CAP imposes a maximum tax levy of $5,033,673.

Tax Rate -Calendar Year

Average Assessed Value of a Home in Neptune City is $210,000.

The total assessed valuation of the Borough decreased from $433,412,900 in 2010 to $433,139,120 in 2011.

The average homeowner will see a $58.00 annual increase in the school tax (exclusive of the debt service portion previously voted on and approved)

How is the Tax Rate for School Purposes Calculated?

The Borough Tax Rate is set on a calendar year; the School District operates on a fiscal year-July 1st – June 30th.

• The Tax Rate for 2011 is made up of:– of School Year 2011/2012 General Fund Tax Levy and the

Debt Service Tax divided by( the Borough’s Total Assessed Valuation divided by 100)

 2011 Tax Levy Gen'l Fund Debt Service

11-12 budget 5,033,670 534,324

Cal Year 11 Tax Rate 1.16 .123

Future Implications

• Our fund balance (surplus) has diminished and it is becoming highly unlikely that we can replenish the amount being required by law to anticipate as revenue to offset appropriations. The increase permitted in the tax levy will not be sufficient to offset the decrease in available fund balance.

Questions???

Thank you for coming to the 2011-2012 Public Budget Hearing

•Last Day to apply by mail for an Absentee Ballot is April 20th, 2011

Election Day is Wednesday, April 27th

Polling Hours are 4 pm to 9 pm

•Voting will be at your Regular Polling Place

•Absentee Ballots must be received by the County Bd. of Elections prior to the close of the polls at 9 pm on April 27th, 2011.