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2023-2024 School Budget

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CURRENT SITUATION

  • Current Projected Appropriations: $30,258,914
  • Current Projected Revenue: $29,739,217
    • State Aid under Governor’s* Budget: $17,555,433
    • Tax Revenue with 3.06% tax increase: $9,125,593
    • Debt Service Transfer: $1,087,700
    • Local Sources: $1,970,491
  • Fund Balance necessary to balance: $519,697

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*Subject to change pending final state budget approval

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PROPOSED EXPENDITURES

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Category

Amount

Special Ed

$5,868,513

Instructional Ed

$7,882,926

Info. Tech.

$575,373

Fringe Benefits

$5,606,024

Transportation

$1,236,009

Debt Service

$4,810,400

Athletics & Extracurricular

$333,378

Administration

$2,241,096

O&M

$1,540,195

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EXPENDITURE HIGHLIGHTS

  • Overall 5.50% Expenditure Increase
    • Enrollment Increase in BOCES programs:
      • Career & Technical Education (CTE)
        • 15 students in ‘22-’23 (up from 12 in ‘21-’22)
      • STEM High School
        • 3 students in ‘22-’23 (up from 1 in ‘21-’22)
    • Preparing for Fiscal Cliff
      • Impact of ARP Funding ending
    • Impact of Inflation
      • Cost of supplies, materials, & equipment has gone up

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REVENUE SOURCES

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Funding Source

Amount

State & Federal Aid*

$17,555,433

Local Property Tax

$ 9,125,593

Local Sources

$ 1,970,491

Fund Balance & Reserves

$ 1,607,397

*Subject to change pending final state budget approval

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2023-2024 PROPOSED BUDGET�$30,258,914

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ON THE RIGHT TRACK

  • Fiscal Position
    • Relying on Fund Balance less
    • Gaining Stability & Sustainability
    • More normalized tax levy

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TAX LEVY HISTORY

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2.68% Drop in Tax Levy

Avg.

2.32%

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FUND BALANCE HISTORY�CONTINUE OUR STRATEGY TO REDUCE LOSS OVERTIME & INCREASE SUSTAINABILITY

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FULL VALUE TAX RATE HISTORY

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*2024 fiscal year tax rate subject to voter approval & final 2023 tax roll

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WHAT DOES 3.06% MEAN?�**USING TENTATIVE TAXABLE VALUES**

  • Your Tax Rate Will Actually Decrease!!

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ESTIMATED

 

ESTIMATED

ESTIMATED

House Value

2022 Taxes

Proposed 2023 Taxes

 

Tax Reduction

Weekly Savings

 

 

 

 

 

 

$100,000

$1,565

$1,468

 

($97)

($1.86)

WITH STAR

$1,135

$1,037

 

($98)

($1.88)

Enhanced STAR

$579

$451

 

($128)

($2.47)

 

 

 

 

 

 

$150,000

$2,347

$2,202

 

($145)

($2.79)

WITH STAR

$1,917

$1,771

 

($146)

($2.81)

Enhanced STAR

$1,362

$1,185

 

($177)

($3.40)

 

 

 

 

 

 

$200,000

$3,129

$2,936

 

($194)

($3.72)

WITH STAR

$2,699

$2,505

 

($195)

($3.74)

Enhanced STAR

$2,144

$1,919

 

($225)

($4.33)

 

 

 

 

 

 

$250,000

$3,912

$3,670

 

($242)

($4.65)

WITH STAR

$3,482

$3,239

 

($243)

($4.67)

Enhanced STAR

$2,926

$2,653

 

($273)

($5.26)

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RECOMMENDED BUDGET

  • Current Projected Appropriations: $30,258,914
  • Current Projected Revenue (3.06% Tax Levy): $29,739,217
  • Fund Balance necessary to balance: $ 519,697
  • Fund Balance necessary in 2022-2023: $ 805,690

    • Reducing the Annual Reliance on Fund Balance
    • Managing Reserves to Reduce Taxpayer Impact

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BUDGET VOTE:�MAY 16, 2023�AUDITORIUM FOYER �12PM – 9PM

  • What you are voting on:
    • Proposed budget of $30,258,914 for 2023-2024

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WHAT WILL THE BALLOT LOOK LIKE?

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Front

Back

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www.rcsd.k12.ny.us

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