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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