At its October 24th business meeting the Board of Education made the final approval for the 2011-2012 budget and local tax levy. Three pieces of information were needed before the final budget and tax levy could be adopted: enrollment, state aid, and property values. Enrollment increased over our Annual Meeting estimate; the 4K program is experiencing strong support from families and the community. In addition, our kindergarten class size shows that we may have reversed the trend of declining enrollment. Early state aid estimates were very close to the actual amount we will receive, a reduction from the prior year of approximately $1.5M. Property values have declined for the second year resulting in the calculation of a higher mil rate while the tax levy increases less than one percent. The Board of Education adopted the recommended tax levy of $21,697,911 in support of the students and educators of DASD.
Highlights of the current year budget approval include:
- Reflects a $575 reduction in revenue allocation per student from the state of WI
- Reflects a $1.5 million dollar reduction in state aid from last year
- Reflects a reduction in the DASD total equalized property value of -1.67%, or -$31,766,583
- Reflects a final state established revenue limit of $32,385,572 (+.7% adjusted from annual meeting estimate due to increased enrollment with 4K and transfer in of high cost special education students)
- Reflects a final local tax levy of $21,697,911 (.7% adjusted from annual meeting estimate)
- Results in a mil rate change dependent upon the overall equalized value of each municipality and the individual property owners assessed property value
- No change in budget center allocations established at the Annual Meeting
- A balanced budget
Additional information about the 2011-12 budget planning process is available HERE, including an explanation of the tax levy.