The total budget increases expenditures by 11.41% over the previous school year, which includes one-time federal and local COVID-19-related funding. The district expects a 4.5% increase in general state aid, or $40.2 million, even though the state provided no increase in the revenue limit. Enrollment, used to calculate the amount of state aid given to the district, was down 405 students during 2021-22 compared to the previous school year. The district’s total tax collections are a 1.96% increase from last year.
The Madison School Board approved a $538 million budget for the 2021-22 school year Monday night.
The budget is a $55 million increase over last year’s actual expenditures, but includes $18.9 million from federal COVID relief funds and about $20 million in unspent money that had been budgeted last year but was not needed for things like unfilled staff positions or transportation costs.
“This budget relies on re-evaluating prior year budgets and repurposing existing funds to new uses,” interim chief financial officer Ross MacPherson told the School Board Monday.
It also comes with a tax rate increase.
The tax rate had been projected in this summer’s approved preliminary budget to drop to $10.87 per $1,000 of property value from last year’s rate of $11.13. Instead, it will rise to $11.40, as the city of Madison’s equalized value unexpectedly dropped by 1.1%, even as surrounding municipalities saw a rise in valuation.
MacPherson said he is working with city officials and state Department of Revenue staff to determine why this happened, but even if they determine it was a mistake, nothing could change in time for this year’s budget.
“While we have no control over equalized valuation, we continue to work with the city of Madison and the Department of Revenue to identify the cause of this trend in future budget years,” he said.
The 27-cent jump from last year equals $81 more for the owner of a $300,000 home in the MMSD portion of their property tax bill.
WORT looks at the City of Madison’s budget.
Taxpayer supported Madison School District tax & spending history.
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