2020-2021 Budget Update – State Budget
January 27, 2020 | Board of Education Meeting
Updates from Original Rollover Budget
- MTA Contract Settled
- Tax Caps Factors Finalized
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- 1.81% for State CPI
- 1.33% Local Growth Factor
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- Some Finalized Health Insurance
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- CDPHP – 9.6% increase
- Secure Blue – 0% increase
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- Workers’ Compensation Contribution Finalized
- Governor’s Budget
Unknown Factors
- Other Health Insurance Rates
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- Prescription – trending lower than recent years, but final rate unknown
- MVP rates
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- Final Contribution Rate for Teachers Retirement System (TRS)
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- Projected rate of 9.25% – 10.25%
- Current year rate is 8.86%
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- General Liability and Auto Insurance
- BOCES
- Special Education Placements (Private and Public)
- MTA Retirements
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- Estimated breakage of $14,000 – $17,000 per retirement in 2020-21
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- Submitted Budgets from Principals and Directors
- Enrollment Shifts
State Aid
View the chart in the accompanying PowerPoint. If you would like an accessible version of this chart, please contact communications@mohonasen.org.
Updated Projections for 2020-21 Budget
Original Rollover
- $825,000 deficit
Updated Rollover
- $450,000 deficit
Next Steps
Expenses
- Incorporate requests from district, buildings and departments from submitted budgets
- Update all known staffing information; will be continuous throughout budget process
- Update employee benefits as factors become known (insurance, TRS final rate, prescriptions, etc)
Revenue
- Final adopted legislative budget
- Review all other revenues for potential changes