BELLEFONTE AREA SCHOOL DISTRICT

PROPOSED FINAL BUDGET2014-2015

• Total Revenues $43,415,000• Total Expenditures $46,200,000• Fund Balance Used $ 2,785,000• Ending Fund Balance $ 3,233,037 Board Policy

7.0%

• Tax Millage 48.2513Act 1 Adj. Index 2.7% 1.8%

• Approved Exceptions $ 436,345Amount Used $0

Proposed Final Budget

ACTUAL ACTUAL BUDGET BUDGET INC (DEC) PERCENT % OF EACH11-12 12-13 13-14 14-15 13-14 INC (DEC) CATEGORY

BEGINNING FUND BALANCE $6,076,254 $7,034,746 $8,278,037 $6,018,037 ($2,260,000) -27.3%

REVENUES: 6000 Local Sources 26,895,638 27,801,271 27,705,620 28,457,264 751,644 2.7% 65.5% 7000 State Sources 13,453,602 13,630,771 14,107,379 14,327,136 219,757 1.6% 33.0% 8000 Federal Sources 838,906 1,032,064 677,001 630,600 (46,401) -6.9% 1.5% 9000 Other Sources 691,821 26,911 0 0 0 0.0% 0.0%

TOTAL REVENUE 41,879,967 42,491,017 42,490,000 43,415,000 925,000 2.2% 100.0%

EXPENDITURES:100 Salaries 17,570,802 17,701,602 18,618,586 18,851,760 233,174 1.3% 40.8%200 Benefits 9,033,256 8,776,598 11,455,656 12,383,364 927,708 8.1% 26.8%300 Professional Services 846,706 873,715 848,691 941,729 93,038 11.0% 2.0%400 Purchased Services 873,553 1,715,885 1,280,340 1,358,310 77,970 6.1% 2.9%500 Other Purchased Services 5,200,910 5,812,604 6,067,421 6,023,602 (43,819) -0.7% 13.0%600 Supplies 1,369,037 1,609,487 1,669,949 1,760,519 90,570 5.4% 3.8%700 Property 1,022,059 127,280 304,225 251,100 (53,125) -17.5% 0.5%800 Other Objects 1,763,069 1,367,724 1,630,944 1,592,332 (38,612) -2.4% 3.4%900 Other Uses of Funds 4,113,881 2,062,831 2,874,188 3,037,284 163,096 5.7% 6.6%

TOTAL EXPENDITURES 41,793,273 40,047,726 44,750,000 46,200,000 1,450,000 3.2% 100.0%

CAPITAL EXPENDITURE RESERVE (871,798) 1,200,000

EXCESS/(DEFICIT) OF REVENUEOVER EXPENDITURES 958,492 1,243,291 (2,260,000) (2,785,000) (525,000)

ENDING FUND BALANCE $7,034,746 $8,278,037 $6,018,037 $3,233,037

Real Estate Tax Millage 45.4050 46.4039 47.4107 48.2513 0.8406 1.8%

Fund Balance % 16.8% 20.7% 13.4% 7.0%

Act 1 Base Index 1.4% 1.7% 1.7% 2.1%Act 1 Adjusted Index 1.8% 2.2% 2.2% 2.7%

Allowable Exceptions $427,317 $278,915 $362,333 $436,345 Exceptions Used $0 $0 $0 $0

Increase in salaries of 1.3% Eliminated two LTS positions

PSERS rate increase from 16.93% to 21.40%Health insurance held flat at $6,500,000Basic Ed subsidy decreased by $400,000 or 5%Special Ed subsidy held flat for 7th consecutive yearReduction of Federal monies by approximately 7%ABG is not budgeted; could be $169,000

What is in the Budget?

• ATHLETIC FUND

• Budget of $525,000.

• General fund transfer increased from $425,000 to $442,000.

• Added two assistant junior high soccer coaching positions.

• Using $15,000 of fund balance.

OTHER FUNDS

• FOOD SERIVCE FUND

• Budget of $1,567,000.• • Decrease of $18,809 in cost

of food.

• PSERS increase of $26,511.

• Food service fund will be self-sufficient based on budget.

Elementary Secondary AdultBreakfas

t Lunch Breakfast Lunch Lunch Milk

Bellefonte Area $1.00 $2.20 $1.00 $2.50 $3.25 $0.50 Bald Eagle Area $1.10 $2.30 $1.10 $2.50 $3.60 $0.50 Penns Valley $0.90 $2.00 $1.00 $2.35 $3.00 $0.50 State College $1.30 $2.40 $1.80 $2.95 $3.25 $0.50 Philipsburg-Osceola $0.85 $2.20 $0.85 $2.45 $3.20 $0.50

FOOD SERVICE – Ticket Prices2014-2015 School Year

AVERAGE HOMEOWNER

Average Homeowner Assessed Value $49,504

Real Estate Tax Bill 2013 47.4107 mills $2,347.04 less projected homestead/farmstead credit 185.71

$2,161.33 Real Estate Tax Bill 2014 48.2513 mills $2,388.65 less projected homestead/farmstead credit 186.09

$2,202.56

Annual Change in RE Taxes for Avg. Homeowner $41.23

Monthly Change in RE Taxes for Avg. Homeowner $3.44

Real Estate Tax Bill 2013

Real Estate Tax Bill 2014

$800.00

$1,000.00

$1,200.00

$1,400.00

$1,600.00

$1,800.00

$2,000.00

$2,1

61.3

3

$2,2

02.5

6

IF YOUR HOME IS VALUED AT:

2014-2015 INDEX of 1.8% 2014-2015 INDEX of 2.2% 2014-2015 INDEX of 2.7%

Market Assessed RE TaxGaming $

$ $ chg. RE TaxGaming $

$ $ chg. RE TaxGaming $

$ $ chg.$50,000 $25,000 $1,206.28 $186.09 $20.63 $1,210.85 $186.09 $25.20 $1,217.69 $186.09 $32.04 75,000 37,500 1,809.42 186.09 31.14 1,816.27 186.09 37.99 1,826.53 186.09 48.25

100,000 50,000 2,412.57 186.09   41.65   2,421.69 186.09   50.77   2,435.38 186.09   64.46 125,000 62,500 3,015.71 186.09 52.16 3,027.11 186.09 63.56 3,044.22 186.09 80.67 150,000 75,000 3,618.85 186.09 62.67 3,632.54 186.09 76.36 3,653.06 186.09 96.88 175,000 87,500 4,221.99 186.09 73.17 4,237.96 186.09 89.14 4,261.91 186.09 113.09 200,000 100,000 4,825.13 186.09 83.68 4,843.38 186.09 101.93 4,870.75 186.09 129.30 225,000 112,500 5,428.27 186.09 94.19 5,448.80 186.09 114.72 5,479.59 186.09 145.51 250,000 125,000 6,031.41 186.09 104.69 6,054.23 186.09 127.51 6,088.44 186.09 161.72 275,000 137,500 6,634.55 186.09 115.20 6,659.65 186.09 140.30 6,697.28 186.09 177.93 300,000 150,000 7,237.70 186.09 125.71 7,265.07 186.09 153.08 7,306.13 186.09 194.14 325,000 162,500 7,840.84 186.09 136.22 7,870.49 186.09 165.87 7,914.97 186.09 210.35 350,000 175,000 8,443.98 186.09 146.73 8,475.92 186.09 178.67 8,523.81 186.09 226.56 375,000 187,500 9,047.12 186.09 157.23 9,081.34 186.09 191.45 9,132.66 186.09 242.77 400,000 200,000 9,650.26 186.09 167.74 9,686.76 186.09 204.24 9,741.50 186.09 258.98 425,000 212,500 10,253.40 186.09 178.25 10,292.18 186.09 217.03 10,350.34 186.09 275.19 450,000 225,000 10,856.54 186.09 188.75 10,897.61 186.09 229.82 10,959.19 186.09 291.40 475,000 237,500 11,459.68 186.09 199.26 11,503.03 186.09 242.61 11,568.03 186.09 307.61 $500,000 $250,000 $12,062.83 $186.09 $209.77 $12,108.45 $186.09 $255.39 $12,176.88 $186.09 $323.82

RE Millage 48.2513 0.8406 48.4338 1.0231 48.7075 1.2968

BALD EAGLE BELLEFONTE PENNS VALLEY STATE COLLEGE

Mills % chg. Index Mills % chg. Index Mills % chg. Index Mills % chg. Index2008-09 39.76 41.08 37.87 33.72 2009-10 41.96 5.5% 5.7% 42.97 4.6% 5.4% 38.33 1.2% 5.2% 34.85 3.4% 4.1%2010-11 43.68 4.1% 4.1% 44.61 3.8% 3.8% 40.58 5.9% 3.7% 35.90 3.0% 2.9%2011-12 46.55 6.6% 2.0% 45.41 1.8% 1.8% 41.71 2.8% 1.8% 36.85 2.6% 1.4%2012-13 48.55 4.3% 2.4% 46.40 2.2% 2.2% 43.23 3.6% 2.2% 37.73 2.4% 1.7%2013-14 50.55 4.1% 2.3% 47.41 2.2% 2.2% 43.23 0.0% 2.1% 38.75 2.7% 1.7%2014-15 52.5500 4.0% 2.9% 48.2513 1.8% 2.7% 45.0182 4.1% 2.6% 39.5056 1.9% 2.1%

MILLAGE COMPARISONS

1. State funds education at or above current (2013-14) levels:1. District can use $400,000 or more for either PSERS or Capital Projects

or Deferred Maintenance items2. District can reopen budget and change Millage rate if bills have not

been sent out yet3. Combination of the two depending upon the amount of the increase

2. State funds education below budgeted levels:1. District would need to evaluate current programming and/or decrease

planned expenditures2. District could also use Committed funds for PSERS to offset shortage3. District can reopen budget and change Millage rate if bills have not

been sent out yet and/or use approved exceptions if needed

BUDGET SCENARIOS