NEW GLARUS - Under the New Glarus school district's 2012-2013 budget, residents can expect a levy decrease of $182,000, or 3.87 percent, compared to last year, and a slight dip in their actual tax rate.
The school board approved the budget at its annual meeting Monday, Aug. 27.
The $4.52 million tax levy will create a tax rate of $11.85 per $1,000 of property value. The rate is about 1 percent less than the $11.97 tax rate under the 2011-12 budget.
The new tax rate means the owner of a $150,000 home will pay about $1,778 in school taxes for 2013, $19 less than last year, for school taxes. The owner of a $200,000 home will pay $24 less than previously, or about $2,370.
The total budget is $16.9 million for all funds, an increase of $1.8 million, or about 12 percent more than last year's revised budget of $15.1 million.
There is an anomaly to this year's budget, according to Tammy Marty, business manager, due to the construction and renovation project, which passed under a referendum last year.
Capital projects make up $4.36 million, or 26 percent, of the total budget this year.
The general fund (Fund 10) at $9.78 million and special education fund (Fund 27) at $1.32 million, which Marty considers the "operational pieces" of the budget, make up only 66 percent of the budget, whereas in other years, it is normally 85 percent.
The referendum debt service (Fund 39) contributes $856,000, or about 5 percent. Food service requires $450,000 or 2.7 percent. Special trust fund, non-referendum debt and community service fund, combined, make up less than 1 percent of the budget.
The district is expecting an increase in state aid of about $450,000. The increase in state aid is due to increased enrollment, increase in aid allotment from the state, and largely due to the construction project expenditures. State aid of $4.96 million is a 10-percent increase from aid of $4.51 million last year, and nearly equal to 2010-11 state aid of $5 million. State aid is based on prior year expenditures for the general fund and the non-referendum/referendum debt.
Because of an increase in enrollment, the district is seeing an increase in its total revenue-limit authority, resulting in an $83,000 increase in the revenue limit, compared to last year. But because of the increase in state aid, the district's allowable revenue limit dropped by $367,000.
The total allowable revenue limit is $8.63 million; minus the state aid of $4.96 million, that leaves the district with $3.67 million for its allowable revenue to pay for expenditures in the general fund and non-referendum debt service. Allowable revenue is down 10 percent, or $367,000, from last year.
The tax levy figures show all of that decrease in revenue limit hit the general fund, which is $3.61 million, down from $3.98 million last year. The non-referendum debt service remained steady at $55,000.
The remaining tax levy comes from the referendum-approved debt service of $851,000 and community service funding at $11,000.
Of the $11.85 per $1,000 value, $9.45 goes toward for the general fund, $2.23 for the referendum-approved debt service, 14 cents for the non-referendum debt service and 3 cents for community service.
The tax rate for 2012-13 could have rivaled 2010-11 tax rate of $11.47, if the district's equalized property values had not fallen by nearly 3 percent in 2011, from $393 million to $382 million.
The school board approved the budget at its annual meeting Monday, Aug. 27.
The $4.52 million tax levy will create a tax rate of $11.85 per $1,000 of property value. The rate is about 1 percent less than the $11.97 tax rate under the 2011-12 budget.
The new tax rate means the owner of a $150,000 home will pay about $1,778 in school taxes for 2013, $19 less than last year, for school taxes. The owner of a $200,000 home will pay $24 less than previously, or about $2,370.
The total budget is $16.9 million for all funds, an increase of $1.8 million, or about 12 percent more than last year's revised budget of $15.1 million.
There is an anomaly to this year's budget, according to Tammy Marty, business manager, due to the construction and renovation project, which passed under a referendum last year.
Capital projects make up $4.36 million, or 26 percent, of the total budget this year.
The general fund (Fund 10) at $9.78 million and special education fund (Fund 27) at $1.32 million, which Marty considers the "operational pieces" of the budget, make up only 66 percent of the budget, whereas in other years, it is normally 85 percent.
The referendum debt service (Fund 39) contributes $856,000, or about 5 percent. Food service requires $450,000 or 2.7 percent. Special trust fund, non-referendum debt and community service fund, combined, make up less than 1 percent of the budget.
The district is expecting an increase in state aid of about $450,000. The increase in state aid is due to increased enrollment, increase in aid allotment from the state, and largely due to the construction project expenditures. State aid of $4.96 million is a 10-percent increase from aid of $4.51 million last year, and nearly equal to 2010-11 state aid of $5 million. State aid is based on prior year expenditures for the general fund and the non-referendum/referendum debt.
Because of an increase in enrollment, the district is seeing an increase in its total revenue-limit authority, resulting in an $83,000 increase in the revenue limit, compared to last year. But because of the increase in state aid, the district's allowable revenue limit dropped by $367,000.
The total allowable revenue limit is $8.63 million; minus the state aid of $4.96 million, that leaves the district with $3.67 million for its allowable revenue to pay for expenditures in the general fund and non-referendum debt service. Allowable revenue is down 10 percent, or $367,000, from last year.
The tax levy figures show all of that decrease in revenue limit hit the general fund, which is $3.61 million, down from $3.98 million last year. The non-referendum debt service remained steady at $55,000.
The remaining tax levy comes from the referendum-approved debt service of $851,000 and community service funding at $11,000.
Of the $11.85 per $1,000 value, $9.45 goes toward for the general fund, $2.23 for the referendum-approved debt service, 14 cents for the non-referendum debt service and 3 cents for community service.
The tax rate for 2012-13 could have rivaled 2010-11 tax rate of $11.47, if the district's equalized property values had not fallen by nearly 3 percent in 2011, from $393 million to $382 million.