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Huron Valley Schools Fiscal Facts V. PowerPoint Presentation Fall 2004. General Fund Revenues by Source. Fiscal Facts V, page 32. Foundation Allowance. (. 1) Amount was reduced by $53 in 02/03 due to State’s budget concern, a reduction of $548,000 to Huron Valley Schools

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huron valley schools fiscal facts v

Huron Valley SchoolsFiscal Facts V

PowerPoint Presentation

Fall 2004

general fund revenues by source
General Fund Revenues by Source

Fiscal Facts V, page 32

foundation allowance
Foundation Allowance


1) Amount was reduced by $53 in 02/03 due to State’s budget concern, a reduction of $548,000 to Huron Valley Schools

(2) Amount was reduced by $74 in 03/04 due to State’s budget concern, a reduction of $791,000 to Huron Valley Schools

(3) Preliminary

Fiscal Facts V, page 12

sources of state local revenues
Sources of State & Local Revenues

Fiscal Facts V, page 5

changes in tax policy
Changes in Tax Policy
  • “Income tax policy changes enacted from 1994 to 2002 resulted in a $155 million loss of revenue for the School Aid Fund for Fiscal Year 2002.
  • Sales and use tax policy changes from 1994 to 2002 resulted in an $85.7 million reduction in SAF revenues for Fiscal Year 2002.
  • Changes in tax policies for property taxes from 1994 to 2002 resulted in a reduction of $145 million in reduced SAF revenues for 2002.

Fiscal Facts V, page 7

changes in tax policy continued
Changes in Tax Policy (continued)
  • Miscellaneous tax policies (Renaissance Zones, Brownfields and other changes targeted at economic development) resulted in a reduction of SAF revenue of $163 million. (That is after netting out reimbursements paid for certain Renaissance Zone exemptions.)
  • The total impact of the aforementioned tax policy changes resulted in$549 million lessfor 2002 than would have otherwise been available.”
  • Source: MSBO Email “What is Happening in Lansing” October 30, 2003

Fiscal Facts V, page 7

one time revenue sources
One-Time Revenue Sources

Fiscal Facts V, page 9


Fiscal Facts V, page 17

huron valley schools budget cuts
Huron Valley Schools Budget Cuts
  • Examples of HVS budget cuts:
    • ___ management positions between 1999/00 and 2004/05
    • Elimination of elementary and special education para-educators
    • Reduction in custodial services
    • Initiation of pay-to-participate at middle school and high school levels
    • Increased lunch prices

Fiscal Facts V, page 18

effectively positioning hvs for the state economic downturn
Effectively Positioning HVS for the State Economic Downturn
  • Educated staff and community on Proposal A
  • Supported Intermediate School District special education millage resulting in over $2.6 million for Huron Valley
  • Eliminated need to borrow; saved interest expense of approximately $30,000 each year for 2002/03, 2003/04 and 2004/05
  • Reduced budget 4 of the last 6 years, totaling approximately $11 million
  • Expanded health care options at reduced cost to district
  • Worked in consortiums and with other groups for various purchases
    • Natural gas
    • Electricity
    • Paper
    • Financial software

Fiscal Facts V, page 21

safeguarding our financial future
Safeguarding our Financial Future
  • Lead efforts for community-wide partnership in lobbying the State for full funding of K-12 programs
  • Initiate programs and services that draw new students to the district
  • Develop health care/benefit options for staff
  • Maintain adequate stabilization fund balance
  • Develop program/service reduction contingencies
  • Implement budget process which includes gathering input from stakeholders

Fiscal Facts V, page 23

protecting teaching learning
Protecting Teaching & Learning


Fiscal Facts V, page 25

what can you do
What Can You Do?
  • Volunteer as a member of the Huron Valley Schools Financial Task Force
  • Write letters to your legislators indicating support of full funding for K-12 education
  • Talk to your friends and neighbors about the crisis in the State’s K-12 funding and encourage them to get involved

Fiscal Facts V, page 28