MONTICELLO - Monticello School District voted for a $2.39 million tax levy for the 2014-15 school year at its annual meeting Sept. 22. That's about $49,000, or 2.02 percent, less than last year.
Based on current data, the school administration is estimating a tax rate of $13.39 per $1,000 of property value, down from $13.68 last year.
That means the owner of a $150,000 home will pay $2,009 in school taxes next year, about $43 less than this year. The owner of property valued at $250,000 will pay $3,348 or $73 less.
The school district's total budget comes to $6.93 million, which is 20.7 percent more last year. But School Administrator Allen Brokopp pointed out that the capital project fund is responsible for most of the increase. Without the borrowed money in that fund, the remaining budget increased 4.88 percent.
The school ended last year with $276,000 to add to the fund balance.
Other revenues for the district include $2.26 million in general state aid, up $16,000 from last year, and $44,000 in categorical state aid, a decrease of about $1,600.
The school also anticipates receiving $250,000 in payments for services.
The general fund for operations totals $4.86 million, up from $4.51 million last year. Of that amount, instruction and curriculum takes $2.14 million, up from $2.06 million last year. Support services, which includes administration, takes $1.88 million, up from $1.65 million. Instructional services purchased uses about $400,000.
Special instructional projects funding totals $628,000, up about 4,000 from last year.
Debt service will total about $356,000 in the school year. Refinancing expenses of almost $675,000 last year are not in this year's budget, and long-term capital debt is about $200,000 less.
The school has set aside $906,000 for capital projects, a significant increase from $58,000 last year.
The passage of the district most recent referendum in April authorizes the district to exceed revenue limits set by state statutes by $820,000 per year, for a total of $5.85 million during the next eight years. The additional funding adds an estimated $56 of taxes on $100,000 of property.
Brokopp reported the school borrowed money after the referendum at low interest rates. Projects in line for the money include roofing, HVAC, Tech Ed and Agriculture updates, playground equipment, technology, buses and vans.
Based on current data, the school administration is estimating a tax rate of $13.39 per $1,000 of property value, down from $13.68 last year.
That means the owner of a $150,000 home will pay $2,009 in school taxes next year, about $43 less than this year. The owner of property valued at $250,000 will pay $3,348 or $73 less.
The school district's total budget comes to $6.93 million, which is 20.7 percent more last year. But School Administrator Allen Brokopp pointed out that the capital project fund is responsible for most of the increase. Without the borrowed money in that fund, the remaining budget increased 4.88 percent.
The school ended last year with $276,000 to add to the fund balance.
Other revenues for the district include $2.26 million in general state aid, up $16,000 from last year, and $44,000 in categorical state aid, a decrease of about $1,600.
The school also anticipates receiving $250,000 in payments for services.
The general fund for operations totals $4.86 million, up from $4.51 million last year. Of that amount, instruction and curriculum takes $2.14 million, up from $2.06 million last year. Support services, which includes administration, takes $1.88 million, up from $1.65 million. Instructional services purchased uses about $400,000.
Special instructional projects funding totals $628,000, up about 4,000 from last year.
Debt service will total about $356,000 in the school year. Refinancing expenses of almost $675,000 last year are not in this year's budget, and long-term capital debt is about $200,000 less.
The school has set aside $906,000 for capital projects, a significant increase from $58,000 last year.
The passage of the district most recent referendum in April authorizes the district to exceed revenue limits set by state statutes by $820,000 per year, for a total of $5.85 million during the next eight years. The additional funding adds an estimated $56 of taxes on $100,000 of property.
Brokopp reported the school borrowed money after the referendum at low interest rates. Projects in line for the money include roofing, HVAC, Tech Ed and Agriculture updates, playground equipment, technology, buses and vans.