Budget / Overview

On June 14, 2012 the School Board approved the 2012-2013 final budget comprised of $110,334,406 in anticipated spending needed for operations, a $10,387,537 transfer of fund balance to the capital reserve fund and $5,150,000 in contingencies, totaling $125,871,943. Establishing a budgetary contingency or reserve allows the administration to respond to unexpected operational needs after passage of the budget, such as teaching positions that result from increases in student enrollment. The 2012-2013 anticipated spending of $110,334,406 reflects an increase of 2.9% over the 2011-2012 projected actual spending of $107.2 million. Funding for the $110,334,406 in anticipated spending will come from projected revenues totaling $109,176,818 and the use of $1,157,588 from existing reserves. The projected revenues include an increase in property tax millage of .6154, or 3.3%, that will generate revenue in the amount of $2,998,916, using the property tax collection rate of slightly over 97%. This tax rate increase translates to an annual increase of $155 on an average T/E home assessed at $252,601. The total tax rate for 2012-2013 will be 19.2628 mills.