ALBANY - Albany School District's 2014-15 budget shows its tax rate for next year is expected to be about $12.25 per $1,000 of property value, up 4 cents from $12.21 last year.
The estimated rate is calculated on the same amount of equalized property value as last year. Property values in the district last year totaled about $210 million.
The new rate means a property owner will pay next year about $1,838 in school taxes on a $150,000 house, about $6 more than this year. The owner of $250,000 of property will pay $3,062, or about $11 more.
The district is levying about $2.57 million through property tax revenue, just $7,800, or 0.3 percent, more than it did for the 2013-14 school budget.
Of the levied amount, the general fund will use $2.23 million, which is $46,000, or 2.1 percent, less than the previous year. Debt service will need $442,000, up $73,800, or 20 percent, more than the previous year. The Community Service Fund will not receive any tax revenue this time around; it received $20,000 in 2013-14.
General state aid to the district is expected to be about $2.44 million, which is about $94,800, or 4 percent, more than the district received last year. Categorical state aid for specific programs will be about $87,000, about $32,700 or 60.2 percent more than in 2013-14.
DPI special project grants are increasing $39,200 compared to 2013-14. The district is looking at $269,200, 17 percent more than last year.
Medical service reimbursement is expected to be $45,000, or $49,000 lower.
Compared to last year, the district is beginning the year with its general fund balance $158,000 lower than in 2013. Its reserved and designated fund balances are also $60,000 lower.
Overall, general fund revenue is expected to be up just 1.28 percent, or about $67,000.
The expenditure column is $31,000 less than last year, just 0.58 percent lower, with $5.38 million for general education spending.
The district lowered funds to vocational curriculum by 8.6 percent or $25,000; co-curricular activities by 5.3 percent or $10,000; gifted and talented by 97 percent or $29,000; and undifferentiated curriculum by 12 percent or $80,800. Undifferentiated curriculum retains $597,000; gifted and talented is left with just $800; co-curricular holds on to $180,800; and vocational keeps $265,000.
The regular curriculum funding was increased by $99,400 or 8.8 percent, to $1.22 million.
School building administration and business administration funds were lower this year by 2.4 and 1.1 percent, respectively, to end at $258,000 and $653,000. General administration was up just 0.1 percent or $300, to $324,800.
The district plans to spend $595,000 for instructional services, 14.6 percent or $76,000 more than last year.
The district will pay out $461,000 in debt service for 2014-15. Community Service Fund expects to spend $25,400.
The district held its annual meeting Aug. 11.
The estimated rate is calculated on the same amount of equalized property value as last year. Property values in the district last year totaled about $210 million.
The new rate means a property owner will pay next year about $1,838 in school taxes on a $150,000 house, about $6 more than this year. The owner of $250,000 of property will pay $3,062, or about $11 more.
The district is levying about $2.57 million through property tax revenue, just $7,800, or 0.3 percent, more than it did for the 2013-14 school budget.
Of the levied amount, the general fund will use $2.23 million, which is $46,000, or 2.1 percent, less than the previous year. Debt service will need $442,000, up $73,800, or 20 percent, more than the previous year. The Community Service Fund will not receive any tax revenue this time around; it received $20,000 in 2013-14.
General state aid to the district is expected to be about $2.44 million, which is about $94,800, or 4 percent, more than the district received last year. Categorical state aid for specific programs will be about $87,000, about $32,700 or 60.2 percent more than in 2013-14.
DPI special project grants are increasing $39,200 compared to 2013-14. The district is looking at $269,200, 17 percent more than last year.
Medical service reimbursement is expected to be $45,000, or $49,000 lower.
Compared to last year, the district is beginning the year with its general fund balance $158,000 lower than in 2013. Its reserved and designated fund balances are also $60,000 lower.
Overall, general fund revenue is expected to be up just 1.28 percent, or about $67,000.
The expenditure column is $31,000 less than last year, just 0.58 percent lower, with $5.38 million for general education spending.
The district lowered funds to vocational curriculum by 8.6 percent or $25,000; co-curricular activities by 5.3 percent or $10,000; gifted and talented by 97 percent or $29,000; and undifferentiated curriculum by 12 percent or $80,800. Undifferentiated curriculum retains $597,000; gifted and talented is left with just $800; co-curricular holds on to $180,800; and vocational keeps $265,000.
The regular curriculum funding was increased by $99,400 or 8.8 percent, to $1.22 million.
School building administration and business administration funds were lower this year by 2.4 and 1.1 percent, respectively, to end at $258,000 and $653,000. General administration was up just 0.1 percent or $300, to $324,800.
The district plans to spend $595,000 for instructional services, 14.6 percent or $76,000 more than last year.
The district will pay out $461,000 in debt service for 2014-15. Community Service Fund expects to spend $25,400.
The district held its annual meeting Aug. 11.