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HALF HOLLOW HILLS SCHOOL DISTRICT of Huntington and Babylon

2013‐14 Budget Update March 4, 2013


Budget Status HALF HOLLOW HILLS SCHOOL DISTRICT  All figures estimated as of March 1, 2013 (A)

$        221,918,299 

2012‐13 approved budget

(B)

$        236,620,199 

2013‐14 projected "rollover" budget

(C)

$        226,951,556 

2013‐14 proposed budget @ 2.97% property tax levy increase

(D)

$             9,668,643 

Reductions needed to 2013‐14 projected "rollover" budget (B) ‐ (C)

(E)

$             7,655,906 

Total value of reductions Board of Ed has already agreed to as of 2/15/2013

Reduction of approximately $7,655,906 assumes the following:  $                440,410  Elementary Enrichment $                105,957  Athletics $                317,237  Drivers' Education $             1,513,997  Elementary Enrollment Decline (reduction of approximately 250 students) $                218,584  Elementary Health Teachers $                730,884  Secondary Enrollment Decline (reduction of approximately 175 students) $             3,738,424  Middle School Eight Period Day $                451,342  Net savings from retirement positions which require replacements $                139,071  Clerical Retirements without replacements

Total value of reductions still needed to be made and/or additional use of reserves (D) ‐ (E) 2 2013‐14 Budget Update – March 4, 2013 (F)

$             2,012,737 


2013‐14 Revenue Assumptions • Property Tax Levy  2.97% increase as determined by State formula

• State Aid lower than 2012‐13  High Tax Aid reduction   Building Aid rate recalibration

• Use of fund balance and reserves equal to 2012‐13 • PILOTs slightly higher than 2012‐13 • “Other” revenue lower than 2012‐13  Loss of Medicare Part D Reimbursement 2013‐14 Budget Update – March 4, 2013

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2013-2014 Budget Update – March 4, 2013