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PRINCETON REGIONAL SCHOOLS 2012-2013 PROPOSED BUDGET. MAINTAINING EXCELLENCE WITHIN A CONSERVATIVE BUDGET. GOALS OF THE BUDGET 2012-2013. Goals of the 2012-2013 budget are: Work within a 2% tax levy cap Maintain focus on teaching and learning - PowerPoint PPT Presentation
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PRINCETON REGIONAL SCHOOLS2012-2013
PROPOSED BUDGET
March 2012 1
MAINTAINING EXCELLENCE WITHIN A
CONSERVATIVE BUDGET
GOALS OF THE BUDGET2012-2013
Goals of the 2012-2013 budget are:
Work within a 2% tax levy cap Maintain focus on teaching and learning Support opportunities for our students’
intellectual, social and emotional growth Use every dollar wisely in order to maximize the
community’s investment in our schools and our children
Princeton Regional School District is synonymous with:
Excellence.
March 2012 2
March 2012 3
A quick look backward…
Of the over $2 million loss of state aid in 2010-2011 all but $440,000 has been returned to the district revenue lines as of the 2012-2013 state aid allocations.
As per state legislation the tax levy cap for 2011-2012 budget was 2%, and will remain at a 2% tax levy cap for the 2012-2013 budget.
THANK YOU to the many donors whose contributions continue to support programs that would not have been possible this year without your generosity.
“Adequacy” vs. Excellence
New Jersey’s most recent funding formula for public education is based on an “adequacy” formula.
Princeton is considered an “over-adequacy” district.
The State goal is to move all districts toward “median” spending levels.
This will be a battleground for Princeton for at least the foreseeable future.
March 2012 4
Where Did We Start?
The state reduced aid by 54% in February 2010 which greatly impacted the 2010-2011 budget negatively.
The state, in February 2011, returned $741,409 of that lost aid to support the 2011-2012 budget.
August 2011 the state released additional aid to districts to support budgets. Princeton received $741,409. This second release of aid replenished the district’s loss to all but $547,600 of the 2009-2010 aid level.
March 2012 5
Where Did We Start?
March 2012 6
January 2012 we were hopeful that the balance of lost aid would be returned to the district. We were disappointed to learn only $107,606 of aid would be returned.
The district is still operating with a $440,000 deficit below the 2009-2010 aid level.
On a positive note we were able to balance the budget with no layoffs or program deterioration.
CHARTER SCHOOLS’ COSTS We will continue to support the Princeton Charter school
in 2012-2013. Princeton Charter School expense is up 1.6% above prior year in order to cover an increase in tuition to that school.
Princeton Charter School costs = $4,777,482 in 2012-2013.
It is still not confirmed as to whether the new Princeton International Academy Charter School will open in September 2012.
If the PIACs charter school opens, our district budget could be drained of funds in excess of $400,000 and the drain will continue to grow each year.
The charter school tuition expense is budgeted in the tax levy question.
March 2012 7
Where are we now on March 27th?
No “planned” layoffs…but there are still some unknown factors
Budget funding levels set for a balanced budget
Plans for personnel and instructional programs for 2012-2013 are in progress
Implementation of new laws governing health benefit contributions
March 2012 8
PROPOSED BUDGET 2012-2013
School and department budgets remain at 2011-2012 levels
Efforts to stabilize utility bills through controls and efficiencies will continue
Decreases in out-of-district tuitions have been maximized
March 2012 9
BASIC BUDGET FACTS 2012-2013
The operating budget is heavily impacted by state mandates and contractual salaries and benefits.
The impact of these constraints on the operating expenses, combined with decreases in major categories, generates a budget which is 1.00% higher than the 2011-2012 general fund budget.
CONSERVATIVE is the label for this budget.
March 2012 10
BASIC BUDGET FACTS 2012-2013
The operating budget is supported primarily by local taxes.
The proposed general fund tax levy increase of 2.00%, will support the 2012-2013 budget without further program deteriorations, and will continue to address the over-crowding of core classes at the high school, expanded academics & co-curricular opportunities at JW, & low class sizes at the elementary schools.
March 2012 11
REVENUES: OPERATING BUDGET 2012-2013
Taxes to be requested $63,434,108*Fund Balance $ 3,145,119Tuition & Revenues (below PY) $ 4,416,465State aid ($1,589,000 returned) $ 3,337,049Extra-Ordinary Aid (budgeted) $ 350,000Other Revenues(budgeted) $ 574,365Capital Reserve transfer $ 350,000Total Operating Revenues $75,607,106
Total Operating Expenses $75,607,106*Tax excludes amount for debt payment.
March 2012 12
EXPENSES: OPERATING BUDGET 2012-2013
2012-2013 $Change %ChangeInstruction $31,567,330 $ 1,034,866
3.4%Tuitions S&R $ 4,005,969 $ (2,440) (.06%)Student Support
Services $ 9,036,565 $ 391,080 4.5%
Administration$ 4,406,237 $ 170,271 4.0%Operations $ 6,087,676 $ 7,143
0.1%Transportation$ 3,089,384 $ ( 69,015) (2.2%)
Continued:
March 2012 13
EXPENSES: OPERATING BUDGET 2012-2013
2012-2013 $Change %ChangeBenefits – ALL $11,929,787 $ (620,142)
(4.9%)Cap Reserve $ 350,000 $ ( 50,000) (12.5%)
WithdrawCapital Expenditure $ 356,676 $ (111,607)
(23.8%)Charter School $ 4,777,482 $ (6,099)
(.12%)Total Expenses $75,607,106 $ 744,057
2011-2012 $74,863,049Budget Increase .99%
March 2012 14
SCHOOL TAX 2012-2013 SHARE
2011-2012 2012-2013 Increase
Borough $20,719,499 $21,057,121 $ 337,622
Township $41,470,803 $42,376,987$ 906,184
Total TaxSchool Year $62,190,302 $63,434,108
$1,243,806
Growth of General Fund Tax as a percent: 2.00%March 2012 15
TAX IMPACT OF TAX YEAR 2012
Average 2012 assessed Borough home value:
$748,155.00
Average 2012 assessed Township home value:
$822,263.00
Average ‘estimated’ tax increase that the 2012-2013 budget generates is:
Borough $141Township $211
Ratable values in the Township decreased in 2012.
March 2012 16
MUNICIPALITIES’ TAX SHARE
Percentage Share of Local Tax Levy:
This is an imposed percentage share which is calculated in the Mercer County Division of Finance Office, using home sales data collected by the Tax Board. This is the last year there will be a split as the communities are consolidating.
2006-07 2007-08 2008-09 2009-2010 2010-11 2011-12 2012-13
Borough Share 30.5% 32% 32.8% 33.3% 33.6%
33.32% 33.20%
Township Share 69.5% 68% 67.2% 66.7% 66.4%
66.68% 66.80%
Total 100% 100% 100% 100% 100% 100% 100%
March 2012 17
Where should resources ( dollars and personnel) INCREASE in order to promote
growth in future years?
TECHNOLOGY, Technology, Technology Power Up Campaign ~ on going! Professional Learning Capital Projects: a separate referendum
question to address deferred capital projects will soon be necessary.
March 2012 18
PRINCETON PUBLIC SCHOOLS
Due to the consolidation of Princeton Borough and Township the school district will no longer be a ‘regional’ school district.
Effective July 1st 2012 the district that serves the children of Princeton will officially change it’s name to
Princeton Board of Education The Board of Education will also be known as the
Princeton Public Schools We will continue to enjoy our sending receiving
relationship with Cranbury.
March 2012 19
What can we project for 2013-2014?
Expect the continuation of a 2.0% cap on the 2013 tax levy question. This cap will greatly increase the need to restructure programs, seek additional revenue streams, and approach traditional systems differently as future budgets are developed.
Larger contributions towards health benefit costs from all staff will assist in balancing the budget
Possibly more outsourcing
March 2012 20
WHAT CAN COMMUNITY MEMBERS DO?
CONTACT LEGISLATORS, THE GOVERNOR AND THE COMMISSIONER OF EDUCATION TO MAKE YOUR VOICES HEARD IN SUPPORT OF REGULAR PUBLIC SCHOOL DISTRICTS
VOTE ON APRIL 17th (TUESDAY) OR VIA ABSENTEE BALLOT
SEEK PRIVATE FUNDING SOURCES AND SUPPORT PEF’S GREAT EFFORTS
VOLUNTEER
March 2012 21
SCHOOL BOARD ELECTION “LEADERSHIP MATTERS”
Borough – Two Seats OpenCandidates: Rebecca Cox (incumbent)
Martha Land Dudley Sipprelle
Township – One Seat OpenCandidate: Patrick Sullivan
Vote: Tuesday April 17st, 2012 * 12:00 PM – 9:00 PM*
March 2012 22
“AND HOW ARE THE CHILDREN?”
March 2012 23
Here in our district,by so many measures, our children are
excelling….Advanced Placement Exams, NJASK scores, SAT results, college and university admissions, performing arts, athletics….and the list goes on and on!
But our goals are for every child, and for every year. Your involvement and engagement in this, one of our nation’s best districts, is needed and invaluable.
March 2012 24
Public Forum: Questions & Comments
______________________________Website: www.prs.k12.nj.usfor budget information, links to our
legislators and voting information.
Follow the PRS Board of Education’s Facebook page!
March 2012 25
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