Norwood Public SchoolThink – Lead - Serve

2014-2015 Budget PresentationApril 24, 2014

8:00 PM

Let Your Light

Shine . . .

Board of Education• President: Mr. Michael Sprague• Vice President: Mr. Joel Rubin

• Board Members: Mr. William SnyderMr. Mathew RossMr. Edward CammarataMr. G.C. VaghasiaMs. Sally Diaz

Budget Highlights• The 2014-2015 Budget: – Maintains and expands current academic

programs– Full Time Technology Teacher-PARCC Readiness– Director of Special Services– Leveled Literacy Intervention

• The Norwood General Fund tax levy as proposed is 2%

Tax Impact 13-14 14-15 Increase/

Decrease% change

School Tax Levy $8,839,123 $9,015,905 $176,782 2%

Tax Rate .749 .765 1.6 2.14%

Avg. homeowner(per $100,000 )

$749 $765 $16 2.14%

Average Homeowner

$549,852$4,113/yr)

$549,223($4,201/yr)

($629)$88 2.14%

Foxhill Resident $211,284($1,582/yr)

$211,284($1,616/yr)

-0-$34 2.14%

Budget Categories2013-2014 2014-2015

Instruction – Regular $3,349,434 $3,191,900

Instruction – Special Education $708,003 $716,545

Benefits $1,739,946 $1,758,439

Facilities Operations + Maintenance $829,908 $833,347

Administration $679,080 $688,477

Transportation $238,425 $244,574

Instructional Support/BSI/ESL $164,658 $166,702

Expenses 2013-2014 2014-2015 Increase/

DecreaseGeneral Fund Expenditures

$9,614,234 $9,825,076 $210,824

Capital Expenditures

$477,631 $152,776 ($324,855)

Revenue 2013-2014 2014-2015 increase/

DecreaseState Aid $476,947 $488,947 $12,000

Fund Balance $ 63,650 $ 40,000 ($23,650)

Rentals $263,800 $263,800 $0

Tax Levy $8,839,123 $9,015,905 $176,782

Miscellaneous $ 0 $25,000 $25,000

Norwood Public School

Northern Valley Office of

Curriculum and Instruction

Special Education/ Region III

Valley/Municipal

Develop

Tradition

Foster

Responsibility