Middletown Board of Education
2004-2005 FINAL School Budget
					2003-4	2003-2004	2004-5	Dollar Change	Percent Change
				Budget	Original	Revised Budget	Base Budget	vs. Revised	vs. Revised
			Category	Account Code	Budget	Through 02/1/04	Proposed	Budget	Budget
Expenses
General Fund:
	Current Expense:
		Instruction		11-1XX-100-XXX-XX-XXX	40,328,999	40,460,345	41,875,435	1,415,090	3.5%
		Special Education		11-2XX-XXX-XXX-XX-XXX	10,409,611	10,363,011	11,130,067	767,056	7.4%
		Basic Skills		11-230-100-XXX-XX-XXX	995,258	995,258	1,052,919	57,661	5.8%
		Co-Curricular		11-401-XXX-XXX-XX-XXX	486,000	486,000	520,185	34,185	7.0%
		Athletics		11-402-XXX-XXX-XX-XXX	1,062,709	1,062,709	1,129,790	67,081	6.3%
		Undistributed:
			Tuition	11-000-100-XXX-XX-XXX	5,344,708	5,344,708	5,730,219	385,511	7.2%
			Attendance	11-000-211-XXX-XX-XXX	36,860	36,860	38,290	1,430	3.9%
			Health Services	11-000-213-XXX-XX-XXX	1,461,136	1,507,736	1,545,978	38,242	2.5%
			Speech Services	11-000-216-XXX-XX-XXX	914,414	914,714	958,083	43,369	4.7%
			Guidance	11-000-218-XXX-XX-XXX	2,417,214	2,417,214	2,437,885	20,671	0.9%
			Child Study Team	11-000-219-XXX-XX-XXX	2,543,971	2,543,971	3,098,065	554,094	21.8%
			Supervision of Instr.	11-000-221-XXX-XX-XXX	405,301	402,327	78,800	(323,527)	-80.4%
			Library/Media	11-000-222-XXX-XX-XXX	816,110	812,028	846,373	34,345	4.2%
			Staff Training/Curric.	11-000-223-XXX-XX-XXX	299,700	301,355	299,700	(1,655)	-0.5%
			General Admin.	11-000-230-XXX-XX-XXX	2,208,487	2,208,487	1,721,430	(487,057)	-22.1%
			School Admin.	11-000-240-XXX-XX-XXX	4,991,945	4,991,945	5,412,318	420,373	8.4%
			Business Services	11-000-251-XXX-XX-XXX	-	-	1,347,863	1,347,863	#DIV/0!
			Info Tech	11-000-252-XXX-XX-XXX	-	-	797,798	797,798	#DIV/0!
			Operations/Maint.	11-000-26X-XXX-XX-XXX	10,639,635	10,697,452	11,068,289	370,837	3.5%
			Transportation	11-000-270-XXX-XX-XXX	8,402,538	8,410,338	8,649,488	239,150	2.8%
			Business Services	11-000-290-XXX-XX-XXX	1,632,880	1,632,880	-	(1,632,880)	-100.0%
			Unallocated Benefits	11-000-291-XXX-XX-XXX	14,499,257	14,434,757	16,362,280	1,927,523	13.4%
			Subtotal Undistributed		56,614,156	56,656,772	60,392,859	3,736,087	6.6%
			Total Current Expense		109,896,733	110,024,095	116,101,255	6,077,160	5.5%
	Capital Outlay:
		Equipment		12-XXX-73X-XXX-XX-XXX	304,500	177,138	180,138	3,000	1.7%
		Facilities		12-000-400-XXX-XX-XXX	3,400,221	3,400,221	3,278,630	(121,591)	-3.6%
			Subtotal Capital Outlay		3,704,721	3,577,359	3,458,768	(118,591)	-3.3%
	Transfers to Charter Schools			10-XXX-XXX-XXX-XX-XXX	40,000	40,000	50,000	10,000	25.0%
	Transfers to Capital Reserve (per EFCFA)  10-604				-			-
			Total General Fund		113,641,454	113,641,454	119,610,023	5,968,569	5.3%
		General fund original budget
Special Revenue
	Federal Programs			20-XXX-XXX-XXX-XX-XXX	2,287,367	3,412,941	2,901,000	(511,941)	-15.0%
	State Programs			20-XXX-XXX-XXX-XX-XXX	917,944	939,514	939,514	-	0.0%
	Local Programs			20-XXX-XXX-XXX-XX-XXX	154,962	158,993	166,478	7,485	4.7%
			Total Special Revenue		3,360,273	4,511,449	4,006,992	(504,456)	-11.2%
Debt Service
	Interest			40-701-510-834-00-000	4,327,757	4,327,757	4,057,078	(270,679)	-6.3%
	Principal			40-701-510-910-00-000	1,400,000	1,400,000	1,475,000	75,000	5.4%
			Total Debt Service		5,727,757	5,727,757	5,532,078	(195,679)	-3.4%
			Total Budget		122,729,484	123,880,659	129,149,093	5,268,434	4.3%
Revenues (Gen/Spec Rev)
General Fund:
	Fund Balance Appropriated				1,500,000	1,500,000	1,375,000	(125,000)	-8.3%
	Miscellaneous				1,010,000	1,010,000	800,000	(210,000)	-20.8%
	State Aid:
		Transportation Aid			3,127,720	3,127,720	3,127,720	-	0.0%
		Special Ed Aid			6,481,044	6,481,044	6,481,044	-	0.0%
		Bilingual Ed Aid			65,192	65,192	65,192	-	0.0%
		Stabilization Aid			6,709,865	6,709,865	6,709,865	-	0.0%
		Supp Stabilization Aid			1,250,000	1,250,000	1,250,000	-	0.0%
		Aid for Adult and Post Grad			-	-	-	-	#DIV/0!
		Academic Achiev Award			-	-	-	-	#DIV/0!
		Consolidated Aid			1,144,380	1,144,380	1,707,726	563,346	N/A
		Extraordinary Aid				-	176,335	176,335	N/A
		Grants in accordance with EFCFA			-	-		-	#DIV/0!
			Subtotal State Aid		18,778,201	18,778,201	19,517,882	739,681	3.9%
			Subtotal General Fund		21,288,201	21,288,201	21,692,882	404,681	1.9%
Special Revenue:
	State Grants:
		Distance Learning Aid			-	-	-	-	#DIV/0!
		NJ Character Education			-		-	-	#DIV/0!
		Non-public Textbook			164,209	180,557	180,557	-	0.0%
		Non-public Nursing			197,131	240,560	240,560	-	0.0%
		Non-public Technology			116,080	121,000	121,000	-	0.0%
		Non-public Aux (Chp 192)			146,593	129,795	129,795	-	0.0%
		Non-public Handi (Chp 193)			293,931	267,602	267,602	-	0.0%
			Subtotal State Grants		917,944	939,514	939,514	-	0.0%
	Federal Grants:
		Title I			397,927	489,687	416,234	(73,453)	-15.0%
		Title IIA & IID			222,966	223,545	190,014	(33,532)	-15.0%
		Title III			8,194	-	-	-	#DIV/0!
		Title IV			44,869	55,706	47,350	(8,356)	-15.0%
		Title V			28,690	94,259	80,120	(14,139)	-15.0%
		IDEA			1,584,721	2,549,745	2,167,283	(382,462)	-15.0%
			Subtotal Federal Grants		2,287,367	3,412,941	2,901,000	613,633	18.0%
	Local:
		Hockey in Middletown			73,962	77,993	85,478	11,516	14.8%
		Coca-Cola (Athletic Facilities Upgrades)			81,000	81,000	81,000	-	0.0%
		Other			-		-	-
			Subtotal Local Grants		154,962	158,993	166,478	11,516	7.2%
			Subtotal Special Revenue		3,360,273	4,511,449	4,006,992	646,719	14.3%
			Subtotal All Gen/Spec Rev Aid		24,648,474	25,799,650	25,699,874	1,051,400	4.1%
General Expense and Special Rev					117,001,727	118,152,902	123,617,015	6,615,288	5.6%
General to be raised by taxation					92,353,253	92,353,253	97,917,141	5,563,888	6.0%
Revenues (Debt Service)
Debt Service:
	Fund Balance Appropriated				-	-	75,000	75,000	#DIV/0!
	Transfer from Capital Projects				75,000	75,000	-	(75,000)	-100.0%
	Debt Service Aid				1,716,414	1,716,414	1,658,747	(57,667)	-3.4%
			Subtotal Debt Service Revenue		1,791,414	1,791,414	1,733,747	(57,667)	-3.2%
Debt Service Expense					5,727,757	5,727,757	5,532,078	(195,679)	-3.4%
Debt Service to be raised by taxation					3,936,343	3,936,343	3,798,331	(138,012)	-3.5%
Total to be raised by taxation					96,289,596	96,289,596	101,715,472	5,425,876	5.6%
					divided by		divided by
Net Taxable Valuation					4,822,943,763		4,865,627,966	42,684,203	0.9%
Estimated Current Year Tax Rate (Per $100)					1.996		2.090
Prior Year Tax Rate (Per Tax Bill, Per $100)					1.938		1.996
Increase/(Decrease) - CENTS PER $100					0.058		0.094
			Assessed Valuation:
			100,000	Taxes =	1,996		2,090
			150,000	Taxes =	2,994		3,135
			200,000	Taxes =	3,992		4,180
			250,000	Taxes =	4,990		5,225
			300,000	Taxes =	5,988		6,270
Tax Rate Detail:
General fund budget					1.914		2.012	0.098	5.1%
Debt service					0.082		0.078	(0.004)	-4.9%
Total					1.996		2.090	0.094	4.7%
								cent increase:
Analysis of Increase/(Decrease):					Current	Total	Total Proposed	Total Increase	Total Increase
			Assessed Valuation:		School Tax	Increase	School Tax	Per Month	Percentage
			100,000	Taxes =	$1,996	$94	$2,090	$7.83	4.7%
			150,000	Taxes =	$2,994	$141	$3,135	$11.75	4.7%
			200,000	Taxes =	$3,992	$188	$4,180	$15.67	4.7%
			250,000	Taxes =	$4,990	$235	$5,225	$19.58	4.7%
			300,000	Taxes =	$5,988	$282	$6,270	$23.50	4.7%