main content starts here2020-2021 Budget Update – State Budget

January 27, 2020 | Board of Education Meeting

Updates from Original Rollover Budget

  • MTA Contract Settled
  • Tax Caps Factors Finalized
      • 1.81% for State CPI
      • 1.33% Local Growth Factor
  • Some Finalized Health Insurance
      • CDPHP – 9.6% increase
      • Secure Blue – 0% increase
  • Workers’ Compensation Contribution Finalized
  • Governor’s Budget

Unknown Factors

  • Other Health Insurance Rates
      • Prescription – trending lower than recent years, but final rate unknown
      • MVP rates
  • Final Contribution Rate for Teachers Retirement System (TRS)
      • Projected rate of 9.25% – 10.25%
      • Current year rate is 8.86%
  • General Liability and Auto Insurance
  • BOCES
  • Special Education Placements (Private and Public)
  • MTA Retirements
      • Estimated breakage of $14,000 – $17,000 per retirement in 2020-21
  • 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