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February 1, 2010

2010-2011 Madison School District Budget Projection, Identifies $587,000 in Efficiencies to date from the 2009-2010 $418,415,780 Budget

Superintendent Dan Nerad 80K PDF.:

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 and utilizing fund balance. The State 2009- 2011 budget impacted the district funding significantly in the fall of 2009-2010 and will again have an impact on the 2010-2011 projections.

The district and PMA Financial Network, Inc., worked to prepare a financial forecast for 2010- 2011.

The $3.8 trillion budget blueprint President Obama plans to submit to Congress on Monday calls for billions of dollars in new spending to combat persistently high unemployment and bolster a battered middle class. But it also would slash funding for hundreds of programs and raise taxes on banks and the wealthy to help rein in soaring budget deficits, according to congressional sources and others with knowledge of the document.

To put people back to work, Obama proposes to spend about $100 billion immediately on a jobs bill that would include tax cuts for small businesses, social safety net programs and aid to state and local governments. To reduce deficits, he would impose new fees on some of the nation's largest banks and permit a range of tax cuts to expire for families earning more than $250,000 a year, in addition to freezing non-security spending for three years.

Despite those efforts, the White House expects the annual gap between spending and revenue to approach a record $1.6 trillion this year as the government continues to dig out from the worst recession in more than a generation, according to congressional sources. The red ink would recede to $1.3 trillion in 2011, but remain persistently high for years to come under Obama's policies.

Posted by Jim Zellmer at February 1, 2010 1:25 AM
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