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SANDWICH SCHOOL FINANCEt <br /> ;Y <br /> A Report for the Sandwich Public Schools <br /> Budget Trends, FY 94 and 95 <br /> In Thousands of Dollars <br /> FY 95 FY 96 %Ch FY 97 % Ch FY 98 % Ch FY 99 % Ch <br /> Gross Stannard of Effort 150448 5,955 3.3% 16479 3.3% 17,019 3.3% 171577 3.3% <br /> Standard v€Er�ort 13,152 14,498 X0.2% 15,501 fi.9% 15,8T7 $.9% 17,577 4. % <br /> � <br /> Standard of Effort Cap 953 11035 <br /> Local Contribution <br /> Prem in 14,922 3.3% 15,412 3.3°I 15,924 3.3% 16,543 3.3% <br /> 7 <br /> 93 116 <br /> f; Overburden <br /> Total 141448 149922 3.3% 15,418 3.3% 161017 3.9% 16,559 4.0% <br /> Federal Impact Aid 13 13 13 13 13 <br /> State Aid <br /> Base 1,717 111794 11876 1,96 1 21051 <br /> s <br /> 618 <br /> Foundation <br /> overBurden 52 735 918 <br /> i <br /> Minim um 77 82 85 90 94 <br /> Total 11794 11876 4.6% 21012 7.3% 2,787 38.51 31682 32.1% <br /> Net School Spending 16,255 16,811 3.4% 173444 3.8% 187517 7.9% 201354 8.2% <br /> �i <br /> r. <br /> Foundation Budget 15,020 16,387 9.1% 17,475 6.6% 18,941 8.4% 20,354 7.5% <br /> Pupils(Prior Year) 3,073 30271 6.4% 31403 4.0% 3,599 5.7% 3,773 4.8% <br /> I <br /> Foundation per Pups-$s 4,888 5,010 2.5% 51135 2.5% 5,26~3 2.5% 5,395 2.5% <br /> Spending per Pupil 5,290 53139 -2.8% 51126 -0.3% 51229 2.0% 53395 3.2% <br /> P 9P P <br /> Inflation Adjusted 51155 41886 -5.21 4,754 -2.7% 41732 -0.5% 41763 0.7% <br /> f` <br /> 5 endin % Foundation 108.2% 102.6% 99.8% 99.3° 100.0% <br /> P 9 <br /> Local Cont%Standard 109.9% 102.9% 99.5% 94.9% 94.8°l0 <br /> 'i <br /> The icture b s to char e in FY 97. The 3.3%a increase in the preliminary contribution <br /> P � g <br /> and state minimum aid are novo insufficient to keep Sandwich spending above the founda- <br /> tion budget.2Accordingly, a standard of effort gap of$90,000 has opened up. If the town <br /> 4 contributed$90,000 more than the minimum, it would have enough to keep spending at <br /> the foundation amount. <br /> In the long run, Sandwich is expected to raise its local contribution to this standard of of <br /> 4 fort. This <br /> was i <br /> u <br /> reqrement put in the law in fairness to other communities which tax <br /> themselves at their standards of effort and should not be re uired to subsidize Sandwich to <br /> z retain a tai rate lower than that they must maintain. In the short run, however, the state <br /> helps Sandwich fill its standard o f effort gap. The state payment is mown as overburden <br /> gP P � <br /> aid. At least in thea , this aid is tem or ; for eve $4 increase in non-school aid in fu- <br /> ry, P �' �' <br /> 2 The preliminary local contribution is the Prior year minimum plus the growth factor-before any <br /> adjustment for high ta)ing or low spending. <br /> Page 13 <br />