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WELCOME TO THE 2007 - 2008 BUDGET HEARING AND ANNUAL MEETING OF THE SCHOOL DISTRICT OF PowerPoint Presentation
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WELCOME TO THE 2007 - 2008 BUDGET HEARING AND ANNUAL MEETING OF THE SCHOOL DISTRICT OF

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WELCOME TO THE 2007 - 2008 BUDGET HEARING AND ANNUAL MEETING OF THE SCHOOL DISTRICT OF - PowerPoint PPT Presentation

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WELCOME TO THE 2007 - 2008 BUDGET HEARING AND ANNUAL MEETING OF THE SCHOOL DISTRICT OF

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  1. WELCOME TO THE 2007 - 2008 BUDGET HEARING AND ANNUAL MEETING OF THE SCHOOL DISTRICT OF SOUTH MILWAUKEE

  2. THE 2007-08 SCHOOL YEAR • Continued work to improve academic achievement through high standards and rigorous curriculum • $820,561 in budget reductions- the gap between revenues and expenditures • Infrastructure work including: • PLTW tables for the High School Tech Ed Department • Walkway at Luther Elementary • Projection systems at Middle & High School • Security Systems at Blakewood, Lakeview & Luther Elementary Schools • Battery backup connected to generator for Technology Department • Maintenance vehicle for the Operations Department • Basketball hoops for the High School

  3. WHY $820,561 IN REDUCTIONS? • (The Gap Between Revenues & Expenditures) • Revenue limits control the total amount of taxes and general state aid a school district can collect • This amount is allowed to increase annually by the CPI, the 2007 increase is 2.8% • State mandates and guidelines often limit the District’s ability to balance the budget

  4. FUTURE BUDGETS • As long as revenue limits are in place and expenses increase at a greater rate than revenues, the district will be facing a budget gap. • We expect to see continued reductions for the 2008-09 school year.

  5. 2007-08 REDUCTION SUMMARY • The $820,561 gap between revenue and expenditures was addressed as follows: • Staff reductions • Copy center lease changes • Budget reductions at all schools and departments that include employee travel, paper, postage, dues/fees and supplies • Revenue increases in special education aid, school fees and open enrollment

  6. 2007 - 08 BUDGET INCREASE SUMMARY 2007 Actual 2008 Proposed Inc/(Dec) TOTAL Costs + $894,470 $34,008,000 $34,902,470 (Fund 10 & 27) 2.6 % 1. Salaries $ 946,223 2. Fringe Benefits $420,904 3. Purchased Services ($365,046) 4. Supplies and Equipment ($117,957) 5. Debt Retirement $24,844 6. District Insurance ( $39,465) 7 . Other Misc. (Debt, Fees, Etc.) ($32,218) 8. Interfund Transfers $ 57,185 TOTAL EXPENDITURE INCREASE $894,470

  7. Mill Rate Comparison(2006-07)

  8. Mill Rate History

  9. 1993-2006 Tax Levy History (All Funds)

  10. SUMMARY • Budget reductions made primarily due to revenue limits and declining enrollments • Projected mill rate of $9.57 – remains lower than 2006-07 • Budget will change after 3rd Friday enrollment count, final certification of state aid and property valuation • Rising costs of insurance and utility costs will continue even with controls • Future state legislation uncertain • 2008-09 will likely see another year of reductions

  11. Questions & Answers