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2014-15 Proposed Budget

2014-15 Proposed Budget. July 1 - June 30 . DISTRICT BUDGET. Budget Approved in August by Finance & SB Budget Hearing/Annual Meeting in Sept . Budget Finalized in October by Board. Actuarial Valuation of Prior Post Employment Benefits

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2014-15 Proposed Budget

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  1. 2014-15 Proposed Budget

  2. July 1 - June 30 DISTRICT BUDGET Budget Approved in August by Finance & SB Budget Hearing/Annual Meeting in Sept. Budget Finalized in October by Board

  3. Actuarial Valuation of Prior Post Employment Benefits • StudentEnrollment - 3rd Friday in September • Property Value – October 1 • State Aid - October 15 • Transfer of Service • Needs of the District Budget Factors

  4. Property Values

  5. Estimated State Aid

  6. Referendum Dollar Usage

  7. BUDGET Revenue Limit: Prior Year Spending, 3 year average of Sept and Summer School Enrollment, Property Value, Transfer of Service, Referendums, Aid. State Aid: District Property Value and prior year average of Sept. and Jan. Enrollment

  8. Budget Revenues: State Aid and Taxes Budget Expenses: Salaries and Fringes Transportation Insurance Supplies and Equipment Maintenance Utilities Contracted Services

  9. GENERAL FUND (FUND 10) • $27,335,396 • DEBT SERVICE (FUND 30) • $322,000 • Maintenance Referendum

  10. CAPITAL PROJECTS (FUND 40) • $0.00 • FOOD SERVICE (FUND 50) • $1,063,813 • COMMUNITY SERVICE (FUND 80) • $0.00 • Swimming Pool: Lease agreement • with the City of Portage

  11. Budget to Taxy Levy To determine the property tax levy: Revenue Limit - minus State Equalization Aid = equals Property Tax Levy

  12. PROJECTED 14-15 LEVY

  13. Each municipality’s share of the levy is determined by its share of the total equalized value. 2013 Values

  14. PROJECTED TAX IMPACT $10.18 Mill Rate $100,000 Home $1018. Tax Amount

  15. Mill Rate – History

  16. Note: • Budget adjustments are made in October • based on student count, actuarial valuation of prior post employment benefits, state aid certification, transfer of service allocation, needs of the district, and property valuations.

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