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Home My Public Portal AboutFY22 Budget Presentation 2.25.21FY22 Operating Budget Cape Cod Tech Finance Committee Anthony Tullio –Wellfleet (chair) David Bloomfield –Mashpee Dr. Normand Michaud –Yarmouth Stefan Galazzi –Orleans Paul Hebert -Barnstable FY22 Enrollment by Town Enrollments Students FY22 Students FY21 Change Barnstable 169 194 -25 Brewster 41 29 12 Chatham 15 10 5 Dennis 73 73 0 Eastham 23 22 1 Harwich 51 58 -7 Mashpee 44 48 -4 Orleans 13 12 1 Provincetown 11 14 -3 Truro 11 6 5 Wellfleet 16 13 3 Yarmouth 159 137 22 Total 626 616 10 FY22 Enrollment *Enrollment as of 10/1/2020 Student Enrollment Trend FY18 Students % FY19 Students % FY20 Students % FY21 Students % FY22 Students % Barnstable 183 29.5%179 30.3%176 30.9%194 31.5%169 27.0% Brewster 43 6.9%41 7.0%36 6.1%29 4.7%41 6.55% Chatham 10 1.6%7 1.2%8 1.4%10 1.6%15 2.40% Dennis 67 10.8%61 10.4%68 11.6%73 11.9%73 11.66% Eastham 15 2.4%22 3.7%22 3.7%22 3.6%23 3.67% Harwich 77 12.4%77 13.1%67 11.4%58 9.4%51 8.15% Mashpee 57 9.2%53 9.0%45 7.7%48 7.8%44 7.03% Orleans 15 2.4%11 1.9%9 1.5%12 1.9%13 2.08% Provincetown 5 0.8%7 1.2%11 1.9%14 2.3%11 1.76% Truro 3 0.5%6 1.0%6 1.0%6 1.0%11 1.76% Wellfleet 9 1.5%13 2.2%12 2.0%13 2.1%16 2.56% Yarmouth 137 22.1%114 19.4%110 18.7%137 22.2%159 25.4% Out-of-District 621 591 570 616 626 Six Year History The FY22 Budget Fiscal Year Budget FY16 4.49%* FY17 -.50% FY18 1.89 % FY19 1.44 % FY20 0.96 % FY21 2.76%/1.34% 1.99% $15,812,000 An increase of $308,000 over the original FY21 Budget Where Does the Money Come From? FY22 Revenue Sources Assessments $ 12,647,853 State Aid $ 2,699,147 Local Revenue $ 465,000 Revenue Source vs. The Operating Budget Revenue Source vs. The Operating Budget Fiscal Year Operating Budget State Aide Assessments Local Revenue 2015 13,908,300 2,490,657 11,166,643 251,000 2016 14,532,300 2,413,040 11,885,260 234,000 2017 14,459,000 2,466,487 11,844,513 148,000 2018 14,732,000 2,538,847 12,043,153 150,000 2019 14,944,000 2,634,067 12,159,933 150,000 2020 15,087,000 2,659,133 12,137,867 290,000 2021 (org)15,504,000 2,699,147 12,464,853 340,000 2021 (rev)15,289,584 2,193,718 12,137,867 958,000 2022 15,812,000 2,699,147 12,647,853 465,000 What is the Money Used For? WHAT IS THE MONEY FOR? Building Leadership $447,061 2.8% Teachers Salaries $5,671,185 35.9% Retirement $449,201 2.8% Insurance Benefits $1,651,878 10.4% Library $89,194 0.6% Retiree Benefits $834,708 5.3% Educational Materials $201,600 1.3% Guidance $546,406 3.5% Transportation $875,525 5.5% Support Services $1,440,581 9.1% Administration $943,321 6.0% General Insurance $288,545 1.8% Plant Operations $1,518,601 9.6% District-Wide Supervision $439,194 2.8% Capital Requirements $415,000 2.6% FY22 Operating Assessment Town of Barnstable $3,417,605 Town of Brewster $825,363 Town of Chatham $301,962 Town of Dennis $1,469,547 Town of Eastham $463,008 Town of Harwich $1,026,670 Town of Mashpee $978,770 Town of Orleans $261,700 Town of Provincetown $221,438 Town of Truro $221,438 Town of Wellfleet $322,092 Town of Yarmouth $3,138,260 As of 6/30/20 the certified balance is $467,349 This is 3.1% of the allowable 5% that can be held In 2015, Cape Cod Tech joined the Plymouth County OPEB Trust, an IRC Section 115 multiple-employer, irrevocable trust program established by Plymouth County and the County Treasurer to assist public entities in Plymouth County and neighboring counties pre-fund retiree healthcare liabilities. This provides the benefit of a lower liability and large investment pool. Unfunded Actuarial Accrued Liability (2020 GASB Audit) $21,511,658 Balance of OPEB Reserve 12.31.20 $1,813,270 Proposed FY22 Funding $200,000 Principal Interest Total P&I 2020 2,935,000 4,682,300 7,617,300 2021 3,320,000 2,940,700 6,260,700 2022 3,485,000 2,770,575 6,255,575 2023 3,485,000 2,596,325 6,081,325 2024 3,485,000 2,422,075 5,907,075 2025 3,485,000 2,247,825 5,732,825 2026 3,485,000 2,073,575 5,558,575 2027 3,485,000 1,899,325 5,384,325 2028 3,485,000 1,725,075 5,210,075 2029 3,485,000 1,550,825 5,035,825 2030 3,485,000 1,376,575 4,861,575 2031 3,485,000 1,202,325 4,687,325 2032 3,485,000 1,045,500 4,530,500 2033 3,485,000 906,100 4,391,100 2034 3,485,000 766,700 4,251,700 2035 3,485,000 627,300 4,112,300 2036 3,485,000 487,900 3,972,900 2037 3,485,000 348,500 3,833,500 2038 3,485,000 209,100 3,694,100 2039 3,485,000 69,700 3,554,700 $68,985,000 $31,948,300 $100,933,300 In FY19 Cape Tech issued a Bond in the amount of $68,985,000 at 3.32% for 20 Years Fixed Principal FY22 Capital Debt Assessment Town of Barnstable $1,688,805 Town of Brewster $409,710 Town of Chatham $149,894 Town of Dennis $729,484 Town of Eastham $229,837 Town of Harwich $509,639 Town of Mashpee $439,689 Town of Orleans $129,908 Town of Provincetown $109,922 Town of Truro $109,922 Town of Wellfleet $159,887 Town of Yarmouth $1,588,876 $6,255,575 Operating Debt Total Town of Barnstable $3,417,605 $1,688,805 $5,106,410 Town of Brewster $825,363 $409,710 $1,235,073 Town of Chatham $301,962 $149,894 $451,856 Town of Dennis $1,469,547 $729,484 $2,199,031 Town of Eastham $463,008 $229,837 $692,845 Town of Harwich $1,026,670 $509,639 $1,536,309 Town of Mashpee $978,770 $439,689 $1,418,459 Town of Orleans $261,700 $129,908 $391,608 Town of Provincetown $221,438 $109,922 $331,360 Town of Truro $221,438 $109,922 $331,360 Town of Wellfleet $322,092 $159,887 $481,979 Town of Yarmouth $3,138,260 $1,588,876 $4,727,136 $12,647,853 $6,255,573 $18,903,426 The FY22 “House 1” Budget allows districts to use a portion of their ESSER II funds to satisfy Increases in local contribution requirements Members may deem a proportional share of 75% of the regional district’s ESSER II grant ward toward increases in required contribution, equal to the municipality’s share of the district’s total required contribution. Eight (8) of Twelve (12) sending towns qualified for this credit calculated by the State These towns will be receiving a credit in on their 1st Assessment for FY22 Brewster $20,730 Chatham $7,584 Dennis $26,029 Eastham $11,629 Orleans $6,573 Truro $5,562 Wellfleet $8,090 Yarmouth $78,352 $164,549 Total ESSER II offset to local minimum contributions