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New Facility Funding

New Facility Funding. The Rules: The Good News. The state allows kids to be counted as an additional .25 of a student for two years if the student attends in a new facility

salvador-perkins
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New Facility Funding

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  1. New Facility Funding

  2. The Rules: The Good News • The state allows kids to be counted as an additional .25 of a student for two years if the student attends in a new facility • If we did so, we would be able to claim about 68 students (this year’s numbers) at $4,433 per student (2008-2009 base aid) • Could also count students in Vo. Ag. classes • The total would be about $300,000 per year.

  3. The Rules: The Bad News • In order to be eligible, a school district must have a Local Option Budget (local property taxes) equal to 25% of its General Fund Budget (state funding). • The maximum LOB is 31% • Our LOB is 15.6% • That would mean a property tax increase for two years

  4. Other Rules • The official count of students occurs on September 20th. If we aren’t sure we’ll be in the building by then, we would have to wait until the 2009-2010 school year. • Whenever we start, we only have two years to get New Facility Funding. Therefore, funding couldn’t be used for continual expenses (like salaries).

  5. How Much Would it Cost? • The exact mill increase is difficult to determine because we don’t know what our General Fund will be, how much property values will increase, etc… • Our best guess is it would cost about six mills. • A mill is $1 dollar of tax for every $1,000 of assessed property value • All revenues are estimated • All tax costs are estimated • All spending costs are rounded and estimated

  6. The Annual Impact of a Six Mill Increase (estimated) *For farm land, we used 2006 estimate for three mills, doubled that, and added 20% for property value increases • $100,000 Home: $69 • $100,000 Commercial: $150 • 160 Acres Dryland Farm: $67.22 • 160 Acres Native Grass: $25.22

  7. How Does Our LOB Compare to Nearby Districts?: 2007 LOB % of General Fund • Riley County: 27.3% • Manhattan: 24.6% • Wamego: 24.8% • Vermillion: 26.1% • Kaw Valley: 30% • Onaga: 20.4% • Mill Creek: 21.4% • Silver Lake: 30% • Blue Valley: 21.7% • Rock Creek: 15.6%

  8. How Does Our LOB/Capital Outlay Mill Levy Compare to Nearby Districts? • Riley County: 20 • Manhattan: 16 • Wamego: 19 • Kaw Valley: 14 • Vermillion: 15 • Onaga: 24 • Mill Creek: 22 • Silver Lake: 23 • Blue Valley: 21 • Rock Creek: 10

  9. How Much Will We Gain Over the Two-Year Period? • Local Contribution to LOB increase: $590,000 • General Fund Increase for New Facility Weighting: $600,000 • State aid for LOB increase: $790,000

  10. How Much Will We Gain Over the Two-Year Period? • Total Local Contribution: $590,000 • Total State Contribution: $1,390,000 • Two Year Grand Total: $1,980,000 • Rate of return on local taxes: 235%

  11. Spending Plan • What should we spend the money on? • Things that aren’t necessary yet but will need to be done at some point • WES Renovations, Transportation, Technology • Transportation and Technology items allow us to catch up on or get ahead of future needs

  12. Spending Plan: Renovations to WES • Central air for older part of the building: $255,000 • Replace windows: $182,500 • Other Upgrades/Renovations (next Slide): $79,500 • Total WES Renovation Costs: $517,000

  13. Spending Plan: Renovations to WES • Insulate Gym • Paint Gym • Gym Exhaust Fan • Replace Gym Windows • Replace Damaged Exterior Wall Panels • Update Exit Signs/Emergency Lights • Clean and Paint Roof Corbels

  14. Spending Plan: Transportation • Replace 3 Buses: $210,000 • Replace 3 Vans: $70,000 • Driver’s Ed. Car: $20,000 • Total Transportation: $300,000

  15. Spending Plan: Technology in the Classroom • Three Wireless Mobile Computer Labs: $110,000 • Twenty Ceiling-Mounted Computer Projectors: $50,000 • Total Technology: $160,000

  16. Spending Plan • Grand Total of Expenditures: $977,000 • Amount remaining: $1,003,000 • The BOE reserves the right to change spending plans based on circumstances

  17. Potential Uses for Remaining Funds • Capital Outlay Fund for future building additions • Contingency Reserve Fund for increased expenditures (i.e. insurance, utilities) at new SGE • Baseball/Softball Fields • Grounds renovations (i.e. resurfacing RC parking lot, etc…) • Upgraded Alternatives to new SGE or vocational building • Unknown budget restraints call for flexibility in regard to spending forecasts • The BOE and administration will continue to assess our facility needs and budget priorities

  18. The Process • The BOE would like public comments (note cards) • The BOE will discuss the issue over the next few months • The BOE will decide in the spring

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