MONROE - Taxpayers in the Monroe school district could see a $41 reduction on their property tax bill compared to last year as the school board moves closer to approving a final 2013-14 budget.
The school board unanimously approved a total $28.5 million budget that includes a $1.8 million deficit at the district's annual meeting Monday, Oct. 21. Last year's budget was $27.4 million.
The proposed budget includes a total levy of $11.6 million, a 0.69 percent increase based on last year's property valuation. However, with $521,480 more state aid than originally projected coming in, Monroe Business Manager Ron Olson said when the board votes on a final adjusted budget as early as next week, it will include an estimated $11.1 million total levy. That represents a 3.18 percent decrease compared to last year.
Olson estimated that school taxes on a $100,000 house will be $1,124.13, a 3.52 percent decrease or $41 less than last year. District leaders had projected in the preliminary budget that school taxes on a $100,000 house would be $1,173.18, a 0.69 percent increase.
The adjusted mill rate would be $11.24 per $1,000 of assessed value, compared to $11.65 last year.
The decline in the levy and property taxes for school district residents stems from the district receiving $521,000 more in estimated state aid than what the district initially projected, including an estimated $106,034 in aid as part of Gov. Scott Walker's recent $100 million tax cut that is being dispersed to school districts to bring local levies down.
"It's not new money for educational programs," Olson said of the property tax relief. "It won't change the revenue limit. The levy and aid numbers will look better when we set the final budget. Next week when we approve it will be a better story for us."
Olson said the district has lost about $1,000 per child through the revenue limit the last three years and it has changed the revenue limit $2.5 million during that time.
"Before it was supposed to go up $200 per child," he said.
The district gets $12,873 per student and the state average is $12,590, Olson said.
Olson said expenditures are projected to be $28.5 million and revenues are expected to be $26.7 million, about $1,819 less than last year.
The district has $500,000 in capital projects it was planning on paying for through Fund 80, the community service fund. However, the state froze the community service funding so the district is planning on using a portion of the $7.3 million in fund balance to cover the costs of the capital projects and deficit.
Olson said the district has to maintain at least $6 million in the fund balance to avoid short-term cash borrowing and the interest rates it includes.
The capital projects are two new chemistry labs at Monroe High School; the new elevator at the Monroe Public Library that provides access to district offices; a new security camera system at the high school; and asphalt projects across the district.
Monroe is the only district in the state that funds a public library. Olson said the district is working with the library and it may cover part of the costs of the new elevator.
District leaders estimated an enrollment of 2,450, reported to the state the third Friday in September. Monroe's enrollment was 2,468, which is 18 more students over last year, leading to an increase in state categorical aid.
After a decline in enrollment the last few years, Olson said he expects the enrollment to stay consistent the next three years.
The school board unanimously approved a total $28.5 million budget that includes a $1.8 million deficit at the district's annual meeting Monday, Oct. 21. Last year's budget was $27.4 million.
The proposed budget includes a total levy of $11.6 million, a 0.69 percent increase based on last year's property valuation. However, with $521,480 more state aid than originally projected coming in, Monroe Business Manager Ron Olson said when the board votes on a final adjusted budget as early as next week, it will include an estimated $11.1 million total levy. That represents a 3.18 percent decrease compared to last year.
Olson estimated that school taxes on a $100,000 house will be $1,124.13, a 3.52 percent decrease or $41 less than last year. District leaders had projected in the preliminary budget that school taxes on a $100,000 house would be $1,173.18, a 0.69 percent increase.
The adjusted mill rate would be $11.24 per $1,000 of assessed value, compared to $11.65 last year.
The decline in the levy and property taxes for school district residents stems from the district receiving $521,000 more in estimated state aid than what the district initially projected, including an estimated $106,034 in aid as part of Gov. Scott Walker's recent $100 million tax cut that is being dispersed to school districts to bring local levies down.
"It's not new money for educational programs," Olson said of the property tax relief. "It won't change the revenue limit. The levy and aid numbers will look better when we set the final budget. Next week when we approve it will be a better story for us."
Olson said the district has lost about $1,000 per child through the revenue limit the last three years and it has changed the revenue limit $2.5 million during that time.
"Before it was supposed to go up $200 per child," he said.
The district gets $12,873 per student and the state average is $12,590, Olson said.
Olson said expenditures are projected to be $28.5 million and revenues are expected to be $26.7 million, about $1,819 less than last year.
The district has $500,000 in capital projects it was planning on paying for through Fund 80, the community service fund. However, the state froze the community service funding so the district is planning on using a portion of the $7.3 million in fund balance to cover the costs of the capital projects and deficit.
Olson said the district has to maintain at least $6 million in the fund balance to avoid short-term cash borrowing and the interest rates it includes.
The capital projects are two new chemistry labs at Monroe High School; the new elevator at the Monroe Public Library that provides access to district offices; a new security camera system at the high school; and asphalt projects across the district.
Monroe is the only district in the state that funds a public library. Olson said the district is working with the library and it may cover part of the costs of the new elevator.
District leaders estimated an enrollment of 2,450, reported to the state the third Friday in September. Monroe's enrollment was 2,468, which is 18 more students over last year, leading to an increase in state categorical aid.
After a decline in enrollment the last few years, Olson said he expects the enrollment to stay consistent the next three years.