BRODHEAD - Brodhead School District approved a $3.77 million tax levy to meet the district's proposed 2014-15 budget at its annual meeting Monday, with about 10 members of the public in attendance, according to District Administrator Leonard Lueck. The vote was unanimous.
The budget requires a tax levy totaling nearly $3.77 million, which is 0.16 percent more than $3.76 million last year. The additional $6,175 of tax money goes to the general fund.
Thanks to a 2.7 percent increase in equalized property values, the school district's tax rate will be about $9.31 per $1,000 of property value, which is 24 cents less than $9.55 per $1,000 last year. The equalized value of the district was reported as $404.67 million.
The new tax rate translates into a school district tax of $931 on a $100,000 home, compared to $955 last year, a $24 decrease. The owner of property assessed at $150,000 will pay a total of $1,397 in school taxes, about $36 less than last year.
Of the total property tax revenue collected, the district will distribute $3.59 million to the general fund, $175,100 to debt service, and $2,000 to the community service fund.
The budget's total gross expenses of all funds increase by about $488,000 for the year to a total of $14.1 million, compared to $13.6 million last year. Interfund transfers will cover $1.36 million, leaving the proposed budget with a net total expenditure balance of $12.8 million - about 3.02 percent, or $373, 000, more than $12.4 million last year.
According to the proposed budget report, the 3.02 percent increase is primarily due to salary increases of 1.46 percent and the HRA (Health Reim-bursement Arrangements) component of benefits budgeted at 100 percent usage.
The general fund expenditures of $11.4 million is 3 percent higher or about $332,000 more than $11.1 million last year.
Of that increased amount, instruction curriculum and activities increase by $126,670 or 22.8 percent to $5.69 million. Support sources, which include pupil services, teaching staff and administration, increases by $68,000, or 17.4 percent, to $3.97 million. Non-program transactions of $1.75 million, which include the interfund transfers of $1.36 million and $388,000 of instructional services payments, increase by $137,000 or 8.5 percent compared to last year.
Special educational instruction and support will increase 6.3 percent or $110,000 to total $1.87 million for the year.
Debt service expenditures will increase by $50,000, or 18 percent, from $275,100 last year to $325,100 this year. Long-term capital debt expense remains about the same as last year at $78,200, and general obligation debt payments will rise from about $197,000 to $247,000. By the end of the school year, the district's indebtedness will drop from $500,000 to about $200,000.
The community service expenses of $2,000 stay the same as last year.
Revenues to the general fund for the year will total $11.39 million, about $126,350, or about 1.1 percent, less than last year.
Local revenue sources total $3.66 million, which includes $3.6 million in property taxes.
Payments for services to other Wisconsin school districts, which can include open enrollment and co-curricular or contracted instruction costs, will bring in $469,000, up by $107,000 from last year.
State aid sources total $6.97 million, about $27,190, or 0.4 percent, less than last year. General state aid of $6.72 million is down by $45,800, or 0.7 percent, compared to last year.
Categorical state aid, which funds the special education fund, is up by 54.5 percent, from $138,000 to $213,300, about $75,300 more than last year. Federal revenue funding is up by 5 percent, or $13,200, from $260,650 to $273,870.
Other miscellaneous revenues total about $10,000.
The budget requires a tax levy totaling nearly $3.77 million, which is 0.16 percent more than $3.76 million last year. The additional $6,175 of tax money goes to the general fund.
Thanks to a 2.7 percent increase in equalized property values, the school district's tax rate will be about $9.31 per $1,000 of property value, which is 24 cents less than $9.55 per $1,000 last year. The equalized value of the district was reported as $404.67 million.
The new tax rate translates into a school district tax of $931 on a $100,000 home, compared to $955 last year, a $24 decrease. The owner of property assessed at $150,000 will pay a total of $1,397 in school taxes, about $36 less than last year.
Of the total property tax revenue collected, the district will distribute $3.59 million to the general fund, $175,100 to debt service, and $2,000 to the community service fund.
The budget's total gross expenses of all funds increase by about $488,000 for the year to a total of $14.1 million, compared to $13.6 million last year. Interfund transfers will cover $1.36 million, leaving the proposed budget with a net total expenditure balance of $12.8 million - about 3.02 percent, or $373, 000, more than $12.4 million last year.
According to the proposed budget report, the 3.02 percent increase is primarily due to salary increases of 1.46 percent and the HRA (Health Reim-bursement Arrangements) component of benefits budgeted at 100 percent usage.
The general fund expenditures of $11.4 million is 3 percent higher or about $332,000 more than $11.1 million last year.
Of that increased amount, instruction curriculum and activities increase by $126,670 or 22.8 percent to $5.69 million. Support sources, which include pupil services, teaching staff and administration, increases by $68,000, or 17.4 percent, to $3.97 million. Non-program transactions of $1.75 million, which include the interfund transfers of $1.36 million and $388,000 of instructional services payments, increase by $137,000 or 8.5 percent compared to last year.
Special educational instruction and support will increase 6.3 percent or $110,000 to total $1.87 million for the year.
Debt service expenditures will increase by $50,000, or 18 percent, from $275,100 last year to $325,100 this year. Long-term capital debt expense remains about the same as last year at $78,200, and general obligation debt payments will rise from about $197,000 to $247,000. By the end of the school year, the district's indebtedness will drop from $500,000 to about $200,000.
The community service expenses of $2,000 stay the same as last year.
Revenues to the general fund for the year will total $11.39 million, about $126,350, or about 1.1 percent, less than last year.
Local revenue sources total $3.66 million, which includes $3.6 million in property taxes.
Payments for services to other Wisconsin school districts, which can include open enrollment and co-curricular or contracted instruction costs, will bring in $469,000, up by $107,000 from last year.
State aid sources total $6.97 million, about $27,190, or 0.4 percent, less than last year. General state aid of $6.72 million is down by $45,800, or 0.7 percent, compared to last year.
Categorical state aid, which funds the special education fund, is up by 54.5 percent, from $138,000 to $213,300, about $75,300 more than last year. Federal revenue funding is up by 5 percent, or $13,200, from $260,650 to $273,870.
Other miscellaneous revenues total about $10,000.