2015-16Budget Development Goals
1. Maintain (as many of) the academic and extracurricular opportunities (for students) as financially possible.
2. Identify (creative) solutions to our financial dilemma while causing the least amount of impact for our taxpayers.
District ProfileGradeRange
Student Enrollment
Total Teachers
TotalOther
ProfessionalStaff
Total Para-
Professional
Staff
PK-12 365 35 6
3
Attendance Rate (Lyme): 95%Graduation Rate: (Lyme): 96%
Per Pupil Expenditure
Average Total Expenditures Per Pupil:
Lyme CSD Similar Districts StaTe
$20, 213 $20,204 $21,118
Financial Challenges to Overcome
Over the past 6 years, LCS has experienced State Aid Reductions totaling OVER 1.6 million dollars!
Insufficient Funding has resulted in our EXPENSES being greater than our REVENUE creating a significant Budget Deficit
RESERVE FUNDS (Savings) have been utilized (annually) and are NOW dangerously low
More and more UNFUNDED MANDATES negatively impact our operating costs
Funding Restoration
Gap Elimination Adjustment
($$ returned to district): $65,509• We are still owed $1,337
State Aid Increase (foundation aid)
$8,400
Cultivating and Sustaining our Future…
Some of the Cost-Saving MeasuresImplemented in (2014-15)
Superintendent Share Transportation (Busing, Director, Mechanic) Share Shared Fuel Facility with Town of Lyme Automatic Shut-down of all District Computers Implementation of 4-day Summer Work Week Teacher Retirement/Covered Internally Custodial Position/Covered Internally Conservative Budgeting Acquiring and Utilizing Grant Funds Energy Savings Through School Cooperative Group
Three-Part Budget Summary
Expenditures 2014-15 Budget 2015-16 Budget
Program Budget $5,593,649 $5,729,567
Admin. Budget $786,192 $784,122
Capital Budget $1,486,411 $1,473,584
Total Budget: $7,866,252 $7,987,273 1.54% increase from 2014
2015-2016 Budget numbers…
2015-16 Revenues:Total State Aid:
$3,615,574Other Revenue sources:
$350,000Fund Balance:
$62,817Reductions: (cut from budget)
$210,430Local Tax Levy:
$3,958,882
2015-2016 Spending PlanTotal Budget: $7,987,273
Spending Increase: 1.54% or $121,021
Tax Levy Increase: 2.54% or $98,176(est.)
Tax on true or tax/$1000: $9.80
Proposed Budget Proposition: Bus: $103,810 One BOE Seat Annual Lyme Free Library: $43,870
Effects of a Contingency Budget:(If our Budget Doesn’t Pass…)
Tax Levy (revenue) would be frozen at 2014-15 level forcing additional cuts totaling $98,176
No Equipment Purchases
No Free Facility Use by Non-school Organizations
Non-contractual staff salaries are frozen
Significant Reductions (programs and staffing) as necessary to reduce expenses