MONROE - Local taxpayers can expect to pay about 3.5 percent more than they did last year to fund the Monroe School District this school year. The total amount Monroe property owners are expected to have to pay is $11,917,000 - that's the amount not covered by state and federal funding.
Business Manager Ron Olson unveiled the district's preliminary spending plan Monday. Final budget numbers will be presented for approval at the district's annual meeting Monday, Oct. 19.
The proposed budget includes an increase of 0.9 percent in the general education fund - an indication of the district's fiscal responsibility, Olson said. Besides holding the budget down, he said, the district will continue to try to end the year under budget as it did last year.
In all, the general fund budget for 2009-2010 totals about $30,310,000. The total budget for the district is $43,287,000, an increase of 1.5 percent from last year's budget of $42,625,000. However, if compared to the $40,227,000 the district actually spent last year, the increase in the total budget is about 7.6 percent.
The proposed spending plan includes about $175,000 in federal stimulus money for general education and about $625,000 for special education.
The levy forecast is better than the district was expecting last spring, when it was anticipating a reduction in the state aid formula would deliver a financial blow. At that time, Olson said, he was projecting a tax levy increase as high as 18.5 percent. The district fared better than other districts have in getting state aid; Olson said it's not uncommon to see school districts having levy increases of up to 20 percent to make up for lack of state funding. Monroe also has been helped by recently refinancing its debt.
Olson said the budget plan does not use almost $1.3 million of the $2.3 million referendum authority the district has. This is in addition to the $500,000 in referendum authority the district didn't use last year. While most districts use the full amount they are allowed to levy under referendum, Olson said in this case, the district is opting to only exceed revenue limits by what is absolutely necessary.
"The district is very cognizant of our current economic times and the impact it is having on our community," he said. "We're not going to levy if we don't need things."
Estimates of the mill rate, or the amount property owners pays based on the value of their property, won't be available until final equalized value numbers are available in a few weeks, Olson said.
Business Manager Ron Olson unveiled the district's preliminary spending plan Monday. Final budget numbers will be presented for approval at the district's annual meeting Monday, Oct. 19.
The proposed budget includes an increase of 0.9 percent in the general education fund - an indication of the district's fiscal responsibility, Olson said. Besides holding the budget down, he said, the district will continue to try to end the year under budget as it did last year.
In all, the general fund budget for 2009-2010 totals about $30,310,000. The total budget for the district is $43,287,000, an increase of 1.5 percent from last year's budget of $42,625,000. However, if compared to the $40,227,000 the district actually spent last year, the increase in the total budget is about 7.6 percent.
The proposed spending plan includes about $175,000 in federal stimulus money for general education and about $625,000 for special education.
The levy forecast is better than the district was expecting last spring, when it was anticipating a reduction in the state aid formula would deliver a financial blow. At that time, Olson said, he was projecting a tax levy increase as high as 18.5 percent. The district fared better than other districts have in getting state aid; Olson said it's not uncommon to see school districts having levy increases of up to 20 percent to make up for lack of state funding. Monroe also has been helped by recently refinancing its debt.
Olson said the budget plan does not use almost $1.3 million of the $2.3 million referendum authority the district has. This is in addition to the $500,000 in referendum authority the district didn't use last year. While most districts use the full amount they are allowed to levy under referendum, Olson said in this case, the district is opting to only exceed revenue limits by what is absolutely necessary.
"The district is very cognizant of our current economic times and the impact it is having on our community," he said. "We're not going to levy if we don't need things."
Estimates of the mill rate, or the amount property owners pays based on the value of their property, won't be available until final equalized value numbers are available in a few weeks, Olson said.