central dauphin school district · 5/22/2017 · central dauphin school district 2017-2018 budget...

CentralDauphinSchoolDistrict2017-2018BudgetPresenta<on#14

May22,2017

2017-2018BudgetTimeline Approve the Resolution NOT to exceed 2.9% tax increase (no later than 1/26/2017)

Adopt the BALANCED Preliminary Final Budget (no later than 5/31/2017)

Adopt the Final Budget (no later than 6/30/2017)

PosttheProposedPreliminaryBudgetwithataxincreaseincludingavailableexcep<ons(1/26/2017)

Adver<seano<ceofintenttoadoptthePreliminaryBudgetANDano<cetoseekreferendumexcep<onsfromPDE(nolaterthan10dayspriortoadop<on)

ApprovethePreliminaryBudgetwithataxincreaseincludingexcep<ons(nolaterthan2/15/2017)

NO

YES

BudgetPressures

Pension

SpecialEduca<on EnglishasaSecondLanguage

HomelessStudentsPoverty

LackofStateFunding

UncertaintyinFederalFunding

Popula<onGrowth

AidRa<oComparison

0.3000

0.3200

0.3400

0.3600

0.3800

0.4000

0.4200

1994-1995

1995-1996

1996-1997

1997-1998

1998-1999

1999-2000

2000-2001

2001-2002

2002-2003

2003-2004

2004-2005

2005-2006

2006-2007

2007-2008

2008-2009

2009-2010

2010-2011

2011-2012

2012-2013

2013-2014

2014-2015

2015-2016

2016-2017

MarketValueAidRa<o PersonalIncomeAidRa<o

MarketValue/PersonalIncomeAidRa<o

0.3000

0.3200

0.3400

0.3600

0.3800

0.4000

0.4200

1994-1995

1995-1996

1996-1997

1997-1998

1998-1999

1999-2000

2000-2001

2001-2002

2002-2003

2003-2004

2004-2005

2005-2006

2006-2007

2007-2008

2008-2009

2009-2010

2010-2011

2011-2012

2012-2013

2013-2014

2014-2015

2015-2016

2016-2017

AidRa<os

•  MarketValueAidRa<o2014-2015 0.34942015-2016 0.35412016-2017 0.3907

•  PersonalIncomeAidRa<o2014-2015 0.40752015-2016 0.43152016-2017 0.4467

AidRa<os

•  MV/PIAidRa<o–UsedtocalculateAct1Index2014-2015 0.37262015-2016 0.38502016-2017 0.4130

TotalPopula<onIncrease

10400

10600

10800

11000

11200

11400

11600

StudentEnrollment Year Population Variation

2011-2012 10,8312012-2013 10,946 1152013-2014 10,916 -302014-2015 11,059 1432015-2016 11,285 2262016-2017 11,491 206

TotalGrowth 660TotalGrowthasaPercentage 6.1%

PDEProjec<onsDataReleased07/2012

Year PDEProjections CDSDActual Variance Variance(%)2011-2012 10,637 10,831 194 1.8%2012-2013 10,716 10,946 230 2.1%2013-2014 10,810 10,916 106 1.0%2014-2015 10,976 11,059 83 0.8%2015-2016 11,139 11,285 146 1.3%2016-2017 11,299 11,491 192 1.7%2017-2018 11,4652018-2019 11,6632019-2020 11,8342020-2021 12,0292021-2022 12,237

SpecialEduca<on

100011001200130014001500160017001800


2011-2012 1,3672012-2013 1,468 1012013-2014 1,412 -562014-2015 1,501 892015-2016 1,633 1322016-2017 1,756 123


SpecialEduca<on

$15

$17

$19

$21

$23

$25

$27

$29

Millions

SpecialEduca<onExpendituresYear

TotalExpenditures Variance

2011-2012 18,079,758$2012-2013 20,231,043$ 11.9%2013-2014 22,544,017$ 11.4%2014-2015 25,168,947$ 11.6%2015-2016 27,969,012$ 11.1%

EnglishasaSecondLanguage

350380410440470500530560590620


2011-2012 4062012-2013 420 142013-2014 434 142014-2015 485 512015-2016 497 122016-2017 607 110


HomelessStudents

0

20

40

60

80

100

120

140


2012-2013 472013-2014 80 332014-2015 119 392015-2016 127 82016-2017 120 -7


PSERSEmployerContribu<onRate

0

5

10

15

20

25

30

35

40

45

2000-01

2001-02

2002-03

2003-04

2004-05

2005-06

2006-07

2007-08

2008-09

2009-10

2010-11

2011-12

2012-13

2013-14

2014-15

2015-16

2016-17

2017-18

2018-19

2019-20

2020-21

2021-22

2022-23

2023-24

2024-25

2025-26

FederalFunding•  CutstoSupplementalNutri<onAssistanceProgram(SNAP)–  ≈$193billionover10years;morethana25%cut–  Currently42millionpeopleareeligible–  CutstothisprogramwillflowthroughtotheCommunityEligibilityProgramfor12schools;thefutureofthisprogramremainsindoubt,butweareproceeding

•  CutstoMedicaid–  ≈$800billioncutinsubsidy–  Costsshidedtostates

20

(AIE=AverageInstruc<onalExpense)


•  Fiscalyear2000-01•  PSERSemployercontribu<onratewas1.9%ofgrosswages

•  $77milliongrosswages•  ≈$1,400,000CDSDcontribu<ontoPSERS

Source:June30,2016PSERSActuarialValua<on

HistoryandProjec<onofContribu<onRatesandFundedRa<os

PSERSStabiliza<onAccount

•  2013-14 $1,726,907•  2014-15 $3,417,059•  2015-16 $3,423,376•  2016-17 $3,078,448•  2017-18 $2,884,962

•  TotalAmountfromStabiliza<on$14,530,752

EnergySavings

Electricsavings $3,576,040Naturalgassavings 1,041,900Water/Sewersavings199,069Totalsavings $4,817,009

SWAPTransac<ons

•  2009-10 $566,009•  2010-11 $699,474•  2011-12 $764,214•  2012-13 $804,795•  2013-14 $785,283•  2014-15 $1,418,089

•  TotalEarningsonSWAPs $5,037,864•  TotalAmountavailableforuse $3,686,009

DebtRefinancing

Series2016:NPVSavings=$11,941,860(16.1%oftheprincipalrefunded)

Series2016A:NPVSavings=$2,071,431(6.8%oftheprincipalrefunded)

TotalSavings=$14,013,291

DebtRefinancing

DebtService/SWAPStrategy

0

2000000

4000000

6000000

8000000

10000000

12000000

14000000

16000000


0

2000000

4000000

6000000

8000000

10000000

12000000

14000000

16000000 •  ApplyingtheuseoftheSWAPsavingstosmoothannualdebtservicepaymentsun<ltheydropin2020-21–  $1,185,000–  $1,250,000–  $1,250,000


0

2000000

4000000

6000000

8000000

10000000

12000000

14000000

16000000

0

2000000

4000000

6000000

8000000

10000000

12000000

14000000

16000000

FundsGenerated

EarningsonSWAPs $5,037,864EnergySavings $4,817,009PSERSStabiliza<on $14,530,752DebtRefinancing $14,013,291TotalFundsGenerated $38,398,916

MillageRateHistory

Year Millage Increase

2008-2009 13.5480 0.00%2009-2010 13.8600 2.30%2010-2010 13.8600 0.00%2011-2012 13.8600 0.00%2012-2013 14.3173 3.30%2013-2014 14.3173 0.00%2014-2015 14.6008 1.98%2015-2016 14.8622 1.79%2016-2017 15.2188 2.40%

Avg Tax Increase 1.30%

10

11

12

13

14

15

16

Millage15YearHistory

TaxIncrease

Baserealestatetaxmillage 15.2188Act1Index 2.90%SpecialEduca<on2.43%PSERS .57%TotalTaxIncrease5.90%Proposedrealestatetaxmillage 16.1160

TaxIncrease

•  MedianAssessedValue(May1,2017)-$116,100

•  Homeassessedvalue$150,000at5.89%– $134.58peryear– $11.22permonth

Ques<ons

central dauphin school district · 5/22/2017 · central dauphin school district 2017-2018 budget...

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