The Menomonee Falls School Board Monday approved the final version of the 2011-12 budget proposal, a $42 million plan that calls for spending about $2.2 million less than last year.
Administrators balanced the budget in per-pupil revenues, roughly a $3.3 million drop in funding.
Administrators maintained class sizes and programs despite the deep cuts to funding and property as a result of the budget, officials say.
General fund revenues, which include state and federal funding, fell by 8.4 percent to $46.8 million.
To match the decrease in funding, the district also tightened its belt and reduced overall general fund expenditures by 4.87 percent, from $44.2 million to $42 million.
Overall, the budget features a slight decrease in the equalized property tax rate, which will fall from $11.71 per $1,000 of value to $11.62. That equates to a property tax bill of roughly $2,904 for a home valued at $250,000. That’s about $24 less than last year.
The total tax levy is $37.9 million, which is 3.3 percent lower than 2010-11.
The district will save $1.2 million by switching from health providers from the WEA Trust plan to Humana. The employee contribution toward retirement opened $1.3 million in savings as well. The district also expects to reduce its energy and gas usage by 38 percent.
By adding 46 seats through open enrollment, the district will generate about $300,000 in additional revenue. It also stashed away $400,000 from the Federal Education Jobs Act fund.
In the long-term, the district was able to lower its post-retirement benefits costs. Future retirement liabilities were reduced from $22 million to $6 million overall through a recent contract agreement with the teachers union.
The began in November and underwent numerous revisions. The proposal approved by the board on Monday will move for approval at the district’s annual meeting, which will begin at 6:15 p.m. Sept. 12. The meeting will be held in the auditorium to accommodate the residents who may choose to attend.
The purpose of the annual meeting is to update the community on the state of the school district, and to allow the public to share its views on the budget. The budget will not be final until the district's property tax levy is certified in November.
The complete budget proposal is attached on the article page as a PDF file.