PCS: A Financial Snapshot

It can be difficult to understand how NYS aid to schools impacts the costs. The following snapshot of the 2010-11 school year at the PCSD should help clarify the major areas of spending and the aid received.

For  2010-11 

        (approximately)

$10,400,000...................Salaries

$ 6,700,000....................Benefits

$ 1,500,000....................Special Ed. (The cost before NYS aid was $3.9 million.)

$       308,000.........................Debt Service (Cost before building aid was $3.4 million.)*

$       100,000.........................Transportation (Cost before aid was $1 million.)

$       311,000..........................Athletics

$        52,000...........................Extracurricular Activities

~ On the Special Education costs of $3.9 million, NYS reimbursed the PCSD $2.4 million.

~ On the Debt Service of $3.4 million, NYS reimbursed the district $3 million. (Aid was 91%) * The building aid received on debt service varies.

~ On the Transportation Costs of $1million, NYS paid $900,000. (Aid was 90%)

• Education is a people business. Thus, the major cost drivers are salaries (for employees) and benefits (for employees and retirees). 
• There have been significant decreases in NYS aid to schools (for the last several years).
•  There have been significant increases in the costs of contractual obligations (negotiated locally between the superintendent and the unions).
• The primary place to realize savings, unfortunately, lies in cutting jobs.
•  The causes of the financial problems at the PCSD are the result of both local contract agreements and State cuts in funding. 

What comprises the $6.7 million in benefit costs?

           (approximately)

1.  $4.3 million.......Health Insurance
2.  $ 849,000..........TRS (Teachers' Retirement System)
3.  $ 799,000..........Social Security
4.  $ 333,000..........ERS (Employee Retirement System for CSEA)
5.  $ 165,000..........Administration of Health Ins. Plan
6.  $ 100,000..........Unemployment Insurance
7.  $  86,000...........Workers' Compensation Ins.
8.  $  22,000...........Workers' Compensation Administration
9.  $   8,000............Flex Plan and 403b fees