In November of 2008 the district was given voter approval for a three year operating referendum: $5 million in 2009-2010, $4 million in 2010-2011, and $4 million in 2011-2012, The approved operating referendum has a shared cost plan between property tax payers and the district.
During the fall adoption of the 2009-2010 budget the Board of Education worked to reduce the impact for property tax payers by eliminating costs, implementing new revenues, and utilizing fund balance (see Appendix A). The Wisconsin State 2009-2011 budget impacted the district funding significantly in the fall of2009-2010 and will again have an impact on the 2010-2011 projections.
The district and PMA Financial Network, Inc, have worked to prepare a five year financial forecast beginning with the 2010-2011 budget year, which is attached in pgs 1-2.
2010-2011 Projection Assumptions:
The following items are included in the Budget Projection:
1. The budget holds resources in place and maintains programs and services.
2. October enrollment projections
3. Salary and Benefits – Teacher salary projections are based on their current settlement, and all other units are at a projected increase consistent with recent contract settlements.
4. Supplies & Materials – A 1% (~$275,000) projection was applied to supply and material budgets each year
5. Revenues – The district utilized revenue limit and equalization aid calculations based on the 2009-2011 State Budget. All other revenues remained constant.
6. Grants – Only Entitlement Grants are included in the forecasted budget. Example ARRA funds are not included as they are· not sustainable funds.
7. Debt – The forecast includes a projection for the WRS refinancing as of January 26th Attached on pgs 3-4 is a current Debt Schedule for the District which includes thecurrently restructured debt and the estimated WRS refinanced debt.
8. The 4-k program revenues, expenditures and enrollment have been added to the
projections beginning in 2011-2012.
Much more on the budget, including some total budget numbers via a Board Member’s (Ed Hughes) comment. The recent State of The District presentation lacked total budget numbers (it presented property taxes, which are certainly important, but not the whole story). There has not been a 2009-2010 citizen’s budget, nor have I seen a proposed 2010-2011 version. This should be part of all tax and spending discussions.