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Getting Numbers Ready for a Referendum. Presented by the IASBO Principles of School Finance Committee March 1, 2007. How to Determine Budget Reductions. Meet with Administrative Team Review District’s goals Consider outsourcing: Custodial/maintenance Security Transportation

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getting numbers ready for a referendum

Getting Numbers Ready for a Referendum

Presented by the IASBO

Principles of School Finance Committee

March 1, 2007

how to determine budget reductions
How to Determine Budget Reductions
  • Meet with Administrative Team
  • Review District’s goals
  • Consider outsourcing:
    • Custodial/maintenance
    • Security
    • Transportation
  • Consider postponing non-critical capital projects
  • Do not fill staff positions left vacant from retirements & resignations
other revenue options
Other Revenue Options
  • General state aid – review district’s processes to insure maximum amount is being received
  • Review all state & federal grant options
    • www.isbe.net - FY 08 ISBE budget for description of available grants
  • Developer fees
  • If self-funded, increase employee contributions to health care (e.g., deductions & co-pays).
  • Increase student fees
    • Most taxpayers don’t have children in your schools & may prefer having parents pay more of the costs first.
    • Participation fees (e.g., athletics), AP exams, parking
how much of a tax increase is needed
How Much of a Tax Increase is Needed?
  • Taxpayers want to be assured that the district has cut as much as possible without hurting programs and have maximized their revenue.
  • What are the district’s goals?
  • Politics are involved
    • What do you want to communicate to your community?
    • Will successful referendum sustain the district through 5 or 10 years of fiscal solvency?
tax increase cont
Tax Increase (cont.)
  • Prepare financial forecasts for at least 5 years
  • Consider:
    • Enrollment
    • EAV growth
    • Tax increment financing (TIF) being added back to the tax rolls as new property
    • Employee retirements may slow down salary increases as they’re replaced with less expensive staff.
county agency tax rate reports
County Agency Tax Rate Reports
  • Meet with your county extension office to understand:
    • Financial impact your referendum will have on your district
    • Rate increase factor
    • Phase-in effects of referendum
  • There are still going to be unknowns in projecting property tax revenue
    • EAV
    • New property growth