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School Newsletter


School Newsletter

February 2010

Andes Central School District

News From the Desk of the Superintendent


Financial Health Update:

District in Good Shape, but Challenges Ahead

Ongoing planning is a must for schools shaping a good financial future. Andes Central School District started the 2009-2010 school year in good health financially. The Andes Board of Education must consider a variety of financial challenges as it begins to shape the 2010-2011 school budget proposal. 

Long-range financial planning is one of the school board’s goals. Such planning includes assuring the district has adequate reserves, maintaining a sufficient undesignated fund balance, securing good credit ratings and, clean audit reports, and operating educational programming within its voter-approved budget. According to our Business Administrator Greg Beall, Andes met all of these markers of good financial health at the start of the current school year. Next year we are likely to face unique challenges.

State Aid Cuts

Every Andes School District budget depends on state aid as a major source of revenue. New York State and the nation are facing a severe economic crisis. State aid projections show a reduction of $90,000.00 for Andes Central School next year.

Mandated Increases

In addition to the State Aid cuts, the District will experience substantial increases in their required contribution rates to employee retirement systems. The Employees’ Retirement System covers non-instructional school district employees such as bus drivers, maintenance workers, secretaries, and food services staff members. The ERS contribution rates will increase from 7.2 percent to 11.5 percent. The Teachers’ Retirement System covers instructional school district employees will increase from 6.19 percent to 8.62 percent. These increases will drive expenses upwards of $50,000.00. The Board will also be considering the initial bond payment for the new building addition, social security costs, as well as increased healthcare costs.   

The district is positioned well as we tackle the first phase of the financial crisis. Sound financial planning has left us with adequate savings to help offset the impact of this crisis.

To present a fiscally sound budget next year, will require that the Board and Superintendent make meaningful reductions and the conservative use of some of our savings. 

In March you will receive another news update regarding our budget projections, reductions, and how Andes will stay true to its mission and its commitment to children.

“Give me six hours to chop down a tree and I will spend the first four sharpening the axe.” Abraham Lincoln


 

 


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