Schools
School Taxes Rising 2 Percent in Budget Proposal
The School Board approved it preliminary budget Monday, and district residents will vote on the proposal Sept. 9 at the annual meeting.
After an 18-month process of crunching numbers and countless meetings, the School Board is prepared to present its budget to the community for a vote.
So down to brass tacks. The changes in the budget’s bottom line are largely due to another consecutive school year with a 15 percent reduction in state aid. The total tax levy increased 2.21 percent to approximately $39.2 million.
That means the tax rate will jump from $11.78 to $12.04 per $1,000 of assessed value. So, the owner of a $250,000 will have a school tax bill of $3,009.15. That’s an increase of $65, or $0.26 per $1,000, as compared to last year.
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State lawmakers approved Wisconsin’s Biennial Budget earlier in summer, and increased the revenue limit to $75 per pupil. The revenue limit controls the maximum level of funding the district can receive from the state and local levies. When state aid drops, as it did this year, increasing the local the tax levy makes up the difference.
“The budget process from meeting to meeting almost becomes anticlimactic. As the board sets the stage for next year’s parameters we’ve yet again worked through pretty significant budget challenges over the past 9 months,” said Falls Superintendent Patricia Greco. “The leadership team and business department have done a good job preparing the schools for the next year.”
Find out what's happening in Menomonee Fallswith free, real-time updates from Patch.
School district residents will vote on the preliminary budget at the annual meeting Sept. 9.
The district trimmed expenditures by 1 percent to $47.8 million. The district let go 4.8 full-time equivalent employees. They also cut expenses by switching to a self-funded insurance model, reduced transportation costs, and reduced out-of-district placements for special education.
Though the budget was once again tight, the district’s fund balance held steady at 17 percent. A strong fund balance helps the district borrow at competitive rates.
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