HYDE PARK CENTRAL SCHOOL DISTRICT

PARAMETERS For Developing the 2012-2013 Budget Items to be Considered Revenue: The district will continue to maximize all revenues. State operating aid will likely continue to be cut for the next school year. The investment vehicle will yield the highest possible interest rates. Due to the continued severe downturn in the economy, district investments will continue to yield less. Investments are bid monthly. The District may benefit on future borrowings based on a continual steady Moodys Credit rating, despite the economic times. Grants may decrease. The fund balance contribution for 2012-13 will be drastically reduced. Education Jobs Funds of $982,000 will be eliminated for the 2012-13 school year. The District continues to monitor all economic indicators.

Expenditures: A continued reorganization of expenditures in several departments will be analyzed to support critical needs without increasing these budgets. These reallocations continue to be based on historical budget data. Enrollment will continue to decline. Data will continue to be collected. We will be negotiating three contracts this year. Employee benefit costs, including health insurance and TRS & ERS, are predicted to increase by double digits. Utility and fuel costs will increase and the District will continue to monitor costs.

-overAdopted by the Board of Education 11-10-11

We will begin the budget process by looking at actual expenditures and prior history. We will maintain our adherence to the State cap of 4% allowed for fund balance. The district may re-organize programs / personnel and reallocate portions of the budget as deemed necessary by the superintendent and recommended to the board.

Parameters for Developing the 2012-2013

The district may decide to hold an additional budget vote. Clear information will be shared as to what will occur if the budget does not pass. All district and board approved plans will continue based on the ability to fund them. Fund balance will be managed and monitored; recommendations including establishing a capital reserve fund, and management of the existing reserves will be made to the board. The district may hold a district vote on the establishment of a capital reserve fund. Special aid and school lunch funds will be closely monitored. The district will create a responsible budget, balancing critical needs with what the community can support.

Adopted by the Board of Education 11-10-11