Middletown Board of Education
2002-2003 School Budget - Final
					2001-2		2002-3
				Budget	Revised Budget	2001-2	Base Budget	Dollar Change	Percent Change
			Category	Account Code	Through 2/28/02	Estimated	Proposed	vs. Budgeted	vs. Budgeted
Expenses
General Fund:
	Current Expense:
		Instruction		11-1XX-100-XXX-XX-XXX	39,009,610	39,009,610	40,063,157	1,053,547	2.7%
		Special Education		11-2XX-XXX-XXX-XX-XXX	8,638,752	8,638,752	9,329,538	690,786	8.0%
		Basic Skills		11-230-100-XXX-XX-XXX	945,536	945,536	919,283	(26,253)	-2.8%
		Co-Curricular		11-401-XXX-XXX-XX-XXX	406,086	406,086	411,000	4,914	1.2%
		Athletics		11-402-XXX-XXX-XX-XXX	1,053,412	1,053,412	1,059,218	5,806	0.6%
		Undistributed:
			Tuition	11-000-100-XXX-XX-XXX	4,618,985	4,618,985	5,674,404	1,055,419	22.8%
			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	1,317,568	1,317,568	1,352,061	34,493	2.6%
			Speech Services	11-000-216-XXX-XX-XXX	839,585	839,585	876,161	36,576	4.4%
			Guidance	11-000-218-XXX-XX-XXX	2,225,792	2,225,792	2,310,881	85,089	3.8%
			Child Study Team	11-000-219-XXX-XX-XXX	2,309,269	2,309,269	2,376,290	67,021	2.9%
			Supervision of Instr.	11-000-221-XXX-XX-XXX	375,828	375,828	397,070	21,242	5.7%
			Library/Media	11-000-222-XXX-XX-XXX	446,267	446,267	719,912	273,645	61.3%
			Staff Training/Curric.	11-000-223-XXX-XX-XXX	241,500	241,500	287,500	46,000	19.0%
			General Admin.	11-000-230-XXX-XX-XXX	2,148,993	2,148,993	2,175,366	26,373	1.2%
			School Admin.	11-000-240-XXX-XX-XXX	4,657,690	4,657,690	4,807,550	149,860	3.2%
			Operations/Maint.	11-000-26X-XXX-XX-XXX	10,050,309	10,050,309	10,396,472	346,163	3.4%
			Transportation	11-000-270-XXX-XX-XXX	7,623,704	7,623,704	8,059,505	435,801	5.7%
			Business Services	11-000-290-XXX-XX-XXX	1,644,973	1,644,973	1,609,235	(35,738)	-2.2%
			Unallocated Benefits	11-000-291-XXX-XX-XXX	12,216,743	12,216,743	13,364,439	1,147,696	9.4%
			Subtotal Undistributed		50,754,066	50,754,066	54,445,136	3,691,070	7.3%
			Total Current Expense		100,807,462	100,807,462	106,227,332	5,419,870	5.4%
	Capital Outlay:
		Equipment		12-XXX-73X-XXX-XX-XXX	297,668	297,668	419,500	121,832	40.9%
		Facilities		12-000-400-XXX-XX-XXX	3,000,347	3,000,347	4,104,278	1,103,931	36.8%
			Subtotal Capital Outlay		3,298,015	3,298,015	4,523,778	1,225,763	37.2%
	Transfers to Charter Schools			10-XXX-XXX-XXX-XX-XXX	20,000	20,000	30,000	10,000	50.0%
	Transfers to Capital Reserve (per EFCFA)  10-604				200,000	200,000	-	(200,000)	-100.0%
			Total General Fund		104,325,477	104,325,477	110,781,110	6,455,633	6.2%
							110,781,110	cap
		General fund original budget					-	under/(over)
Special Revenue
	Federal Programs			20-XXX-XXX-XXX-XX-XXX	2,538,537	2,538,537	2,033,547	(504,990)	-19.9%
	State Programs			20-XXX-XXX-XXX-XX-XXX	1,364,925	1,364,925	1,364,925	-	0.0%
	Local Programs			20-XXX-XXX-XXX-XX-XXX	143,214	143,214	143,214	-	0.0%
			Total Special Revenue		4,046,676	4,046,676	3,541,686	(504,990)	-12.5%
Debt Service
	Interest			40-701-510-834-00-000	3,616,508	3,616,508	3,765,679	149,171	4.1%
	Principal			40-701-510-910-00-000	1,475,000	1,475,000	1,398,000	(77,000)	-5.2%
			Total Debt Service		5,091,508	5,091,508	5,163,679	72,171	1.4%
			Total Budget		113,463,661	113,463,661	119,486,475	6,022,814	5.3%
Revenues (Gen/Spec Rev)
General Fund:
	Fund Balance Appropriated				775,000	775,000	775,000	-	0.0%
	Miscellaneous				1,050,000	1,050,000	1,050,000	-	0.0%
	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			51,392	51,392	65,192	13,800	26.9%
		Stabilization Aid			6,627,266	6,627,266	6,709,865	82,599	1.2%
		Supp Stabilization Aid			1,250,000	1,250,000	1,250,000	-	0.0%
		Aid for Adult and Post Grad			46,176	46,176	53,276	7,100	15.4%
		Academic Achiev Award			140,262	140,262	140,262	-	0.0%
		Grants in accordance with EFCFA			1,750,000	1,750,000	872,823	(877,177)	-50.1%
			Subtotal State Aid		19,473,860	19,473,860	18,700,182	(773,678)	-4.0%
			Subtotal General Fund		21,298,860	21,298,860	20,525,182	(773,678)	-3.6%
Special Revenue:
	State Grants:
		Distance Learning Aid			461,674	461,674	461,674	-	0.0%
		Non-public Textbook			165,212	165,212	165,212	-	0.0%
		Non-public Nursing			201,012	201,012	201,012	-	0.0%
		Non-public Technology			116,720	116,720	116,720	-	0.0%
		Non-public Aux (Chp 192)			139,838	139,838	139,838	-	0.0%
		Non-public Handi (Chp 193)			280,469	280,469	280,469	-	0.0%
			Subtotal State Grants		1,364,925	1,364,925	1,364,925	-	0.0%
	Federal Grants:
		Title I			448,639	448,639	381,343	(67,296)	-15.0%
		Title II			43,223	43,223	36,740	(6,483)	-15.0%
		Title IV			95,129	95,129	80,859	(14,270)	-15.0%
		Title VI			53,552	53,552	45,519	(8,033)	-15.0%
		IDEA			1,751,866	1,751,866	1,489,086	(262,780)	-15.0%
		Class Size Reduction			146,128	146,128	-	(146,128)	-100.0%
			Subtotal Federal Grants		2,538,537	2,538,537	2,033,547	(504,990)	-19.9%
	Local:
		Hockey in Middletown			62,214	62,214	62,214	-	0.0%
		Coca-Cola (Athletic Facilities Upgrades)			81,000	81,000	81,000	-	0.0%
			Subtotal Local Grants		143,214	143,214	143,214	-	0.0%
			Subtotal Special Revenue		4,046,676	4,046,676	3,541,686	(504,990)	-12.5%
			Subtotal All Gen/Spec Rev Aid		25,345,536	25,345,536	24,066,868	(1,278,668)	-5.0%
General Expense and Special Rev					108,372,153	108,372,153	114,322,796	5,950,643	5.5%
General to be raised by taxation					83,026,617		90,255,928	7,229,311
Revenues (Debt Service)
Debt Service:
	Fund Balance Appropriated				-	-	400,000	400,000	#DIV/0!
	Transfer from Capital Projects				1,300,000	1,300,000	350,000	(950,000)	-73.1%
	Debt Service Aid				1,652,874	1,652,874	1,720,851	67,977	4.1%
			Subtotal Debt Service Revenue		2,952,874	2,952,874	2,470,851	(482,023)	-16.3%
Debt Service Expense					5,091,508	5,091,508	5,163,679	72,171	1.4%
Debt Service to be raised by taxation					2,138,634		2,692,828	554,194
Total to be raised by taxation					85,165,251		92,948,756	7,783,505
					divided by		divided by
Net Taxable Valuation					4,759,274,383		4,795,110,275
Estimated Current Year Tax Rate (Per $100)					1.789		1.938
Prior Year Tax Rate (Per Tax Bill, Per $100)					1.750		1.789
Increase/(Decrease)					0.039		0.149
			Assessed Valuation:
			100,000	Taxes =	1,789		1,938	149	8.3%
			150,000	Taxes =	2,684		2,907	223	8.3%
			200,000	Taxes =	3,578		3,876	298	8.3%
			250,000	Taxes =	4,473		4,845	372	8.3%
			300,000	Taxes =	5,367		5,814	447	8.3%
Tax Rate Detail:
General fund budget					1.744		1.882	0.138	7.9%	Rate Components
Debt service					0.045		0.056	0.011	24.4%	Rate Components
Total					1.789		1.938	0.149	8.3%
								cent increase:
Analysis of Increase/(Decrease):					Total	Total	Total	Total
			Assessed Valuation:		School Tax	Increase	Per Month	Per Day
			100,000	Taxes =	$1,789	$149	$12.42	$0.41
			150,000	Taxes =	$2,684	$223	$18.58	$0.61
			200,000	Taxes =	$3,578	$298	$24.83	$0.82
			250,000	Taxes =	$4,473	$372	$31.00	$1.02
			300,000	Taxes =	$5,367	$447	$37.25	$1.22