As promised earlier, I intend to provide our district residents with an update regarding our current budget and some estimates for next year’s budget.
To begin, February is an excellent time to take an in depth look at our district’s current financial situation largely because it is roughly half way through the budget year. Basically, it allows us to gauge fairly accurately where were are now (in terms of revenues and expenditures) and allows us to more easily predict what the remainder of the fiscal year holds. Clearly, we closely monitor all spending throughout the year, but the half- way point provides a degree of focus. With that said, after conducting and in depth evaluation of our budget we are on track with where we should be for this time of year; although this is what was expected, it is always good to see that things are going as planned. It also indicates that we can continue with our plans for facility maintenance, upkeep, and improvements as promised in our most recent referendum plans. There have been several projects completed, several underway and several yet to come.
In addition to an evaluation of this year’s budget, we have also started the beginning stages of budget development and planning in preparation for 2014-2015. As it stands now, we are predicting a balanced budget with a projected mill rate in the range of 11.0 to 12.8. Why the large range at this point? This is due to the fact that there are multiple “moving parts” that remain moving until next fall when we receive our equalized property values and our certification of State aid in October. With that said, we do have the ability to fairly accurately predict where we will likely be based on three main factors: 1) student numbers, 2) equalized property value, and 3) amount of State aid. The issue (and the primary reason for the range) is as a result of the fact that these three factors are unfortunately not finalized until October as mentioned above; however, we are quite certain that the budget will be balanced and that we will continue to meet our obligations to our students, staff and community.
As always, please feel free to contact me at any time.
Craig G. Broeren
715-537-5612 ext. 402