Board of Education Budget Quick NotesMarch 24, 2016
Last night, the Town Council unanimously approved the following BOE budget for the 2016-17 fiscal year:
Operating $74,150,362 (1.99% annual increase)
Health Insurance $12,090,482 (15.15% increase in insurance)
Total BOE Operating Budget of $86,240,844 (3.65% overall annual increase)
Capital Budget $750,035March 16, 2016
Town Council, BOE Budget Review and Regular Meeting | Town HallThe Town Council heard public statements.
Dr. Bryan Luizzi and Dr. Joanne Keating reviewed that after the district’s insurance consultant further reviewed claim history and the revised teacher contract, he was able to decrease the operating budget by $454K.
Dr. Bryan Luizzi reviewed the current retirements. The district has been informed of seven retirements, while the operating budget (including the $300,000 reduction taken by the Board of Finance) is based upon 11-12 retirements (at an estimated savings of $36,000 per retiree due to the differential between anticipated retirements and their replacements).
Upcoming Budget Meeting:
Town Council Meeting
Wednesday, 3/23/16 | 7:00 PM @ Town Hall, Final Vote on Budget
March 2, 2016Town Council, BOE Budget Review and Regular Meeting | Town Hall
The Town Council heard public statements.
Dr. Bryan Luizzi and Dr. Joanne Keating announced that after the district’s insurance consultant further reviewed claim history and the revised teacher contract, he was able to decrease the insurance budget projections. This is due to savings from changes made to the insurance program in the most recent teacher’s contract ($200K) and improved claims experience ($254K) for a total reduction in the operating budget of $454K.
Dr. Luizzi and administration reviewed a list of previously submitted Q&A posted here.
Upcoming Budget Meetings:Town Council MeetingsWednesday, 3/16/16 | 7:00 PM @ Town Hall, Meeting RoomSession: Budget Public Hearing and Overall Review
Wednesday, 3/23/16 | 7:00 PM @ Town Hall, Meeting RoomSession: Vote on Budget and Regular MeetingFebruary 25, 2016
Board of Finance - Public Hearing, Vote on Budget, and Regular Meeting | Town Hall
The Board of Finance heard public statements.
The following changes were made to the initially proposed BOE 2016-17 Budget:
- For the capital budget, the BOF elected to fund $1,009,300 from current year (2015-2016) fund balance. The remaining capital budget for 2016-2017 is $629,035 for technology and $121,000 for facilities.
- Operating budget reduced by $300K
Operating Budget $86,730,631
Capital Budget $750,035
Budget will now move to the Town Council.
Upcoming Budget Meetings:
Town Council Meetings
Wednesday, 3/2/16 | 7:00 PM @ Town Hall, Meeting RoomSession: BOE
Wednesday, 3/16/16 | 7:00 PM @ Town Hall, Meeting RoomSession: Budget Hearing and Overall Review
Wednesday, 3/23/16 | 7:00 PM @ Town Hall, Meeting RoomSession: Vote on Budget and Regular MeetingFebruary 23, 2016
Board of Finance - Public Hearing | Town Hall
The Board of Finance heard public statements in support of the BOE budget.
The total proposed changes to the budget are summarized below:
1) Reduce Capital budget by approximately $800,000 to be funded by current year to date operating fund balance
2) Reduce Operating budget by $300,000 from salaries, due to the differential between anticipated retirements and their replacements.
Upcoming Board of Finance meeting:Thursday, 2/25/16 | 7:00 PM @ Town Hall, Meeting Room
Session: Vote on Budget and Regular Meeting.
Note: There will be an opportunity for public comment at this meeting.February 11, 2016
Board of Finance BOE Budget Follow-up and Review | Town Hall
Dr. Bryan Luizzi and administration reviewed a list of previously submitted Q&A posted here.Other substantial discussion items included 1. increasing retirement savings assumption (salaries) and covering through the town's general fund balance (excess tax reserves) as needed and 2. reducing the capital budget given the recent Saxe building appropriation.
Upcoming Budget Meetings:
Board of Finance
Tuesday, 2/23/16 | 7:00PM @ Town Hall, Meeting Room
Session: Budget Public Hearing and ReviewThursday, 2/25/16 | 7:00PM @ Town Hall, Meeting Room
Session: Vote on Budget and Regular MeetingFebruary 2, 2016Joint Presentation to the Board of Finance & Town Council | Town Hall
Dr. Bryan Luizzi and administration presented the proposed Board of Education operating and capital budgets. Throughout the presentation, they fielded questions and captured requests for further detail. The budget will now proceed to the Board of Finance.Upcoming Budget Meetings:Board of FinanceTuesday, 2/9/16 | 7:00PM @ Town Hall, Meeting RoomSession: Regular Meeting and Budget Follow UpThursday, 2/11/16 | 7:00PM @ Town Hall, Meeting RoomSession: BOE/ Budget Follow Up and ReviewJanuary 25, 2016
The Board of Education unanimously approved the superintendent's proposed budget for 2016-2017.
The budget will now proceed to the town funding bodies for review/approval.
BOE Proposed Budget 2016-2017:
Operating: $87,030,631 (4.6% annual increase)*
*Note this represents a decrease of $1,545,631 from original superintendent's budget, as the town has committed to replenish the healthcare insurance reserves in the current year, per town policy. The budget increase excluding prior year healthcare funding shortfall of $1.1 MM would be 3.3%. BOE added $35,000 for club sports financial assistance.
Operating Budget Variance Drivers:
1.) Healthcare Insurance ($2.2MM includes $1.1 MM prior year funding shortfall and 6.5% premium increase)
2.) Contractual Salary Increases ($2.1MM)
3.) Other Salary Adjustments ($0.5MM includes 6 additional teachers and 1 additional Special Education Administrator due to higher enrollment and mandates)
Key Capital Projects:
1.) Various district maintenance & repairs, all schools ($2MM)
2.) Special Education vehicles ($184k)
3.) Technology equipment leases ($629k)Upcoming Budget Meetings:
February 2 | Joint BOF/TC Presentation | 7:00 PM | Town Hall