The Lancaster Central School District (LCSD) held its first budget work session Monday night. The budget work session was attended by two residents.
Operations and Maintenance - Walter Foltarz and Jamie Phillips (Asst Superintendent for Business & Support Services)
Operations
$5.053 million
$73,800 (1.48%) increase in budget from 2014-15 entirely due to non instructional salary increases.
Maintenance
$2.03 million
$26,649 increase (1.33%) - $23,376 due to salary increases
Transportation – R. Mowery/ Jamie Phillips
$5.75 million
$112,524increase (2.00%) from last budget - $85,814 from salary increases, $$13,161 fleet insurance increase, $6,606 equipment
Bus Garage Building
$192,819
$1,386 increase (0.72%) from 2014-15 budget – from salary increases
Contract Transportation - Contractual Expenses
$674,617
$25,947 increase (4.0%)
Total Transportation
$6.62 million
$139,667 increase from 2014-15 budget (2.16%)
Employee Benefits
$27.11 million
Budget / Increases and decreases:
$5.28 million: (-) $793,032 Teacher Retirement decrease (13.07%) – as the Stock market continues doing well LCSD now paying 13.5% of teacher staff salaries into the NYSTRS system instead of 17.75%
$3.14 million: $320,175 increase (11.35%) in employee retirement system (NYSERS -non instructional) contributions – LCSD will now contribute 18% of staff salary to the system instead of 20.4%
$4.09 million: $119,000 increase (3%) for Social Security – from contractual increases in salaries
$1.26 million: $370,471 increase (41.45%) in Workers Compensation – state adopted new formula rating system (LCSD rated experienced) that changed calculations and increased premium expense. LCSD looked at self funding, but not feasible at this time.
$10.65 million: $429,000 increase (4.20) in Hospital and Medical expenses – would have been higher but offset by 1% increase in employee contributions
$1.79 million: $162,000 increase (10%) for dental insurance – industry standard
$180,503: increase of $18,050 (10%) – industry standard
Total budget increase of $634,301 (2.40%) from 2014-15 budget
Debt Service
$5.69 million
$491,152 increase (9.45%). LCSD expects that to be offset by state building aid and use of debt service reserves. The 9.45% increase on paper is covered on the revenue side. Principal payment and interest due next year for current project issue. BAN just financed in June to pay down the current $19 million building project. The state aid for that project also kicks in next year.
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