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Maximum Levy Certification – September 2013

posted Sep 25, 2013, 11:35 AM by Communications ISD 709

  Below is a preliminary estimate updated with additional information from the Minnesota Department of Education. The estimates are provided in preparation for the maximum levy certification process required by the Minnesota Department of Education, which took place at the September Board meeting.

   These continue to be preliminary estimates - a final levy will be calculated and presented to the School Board for approval in December and will include results of the November 5 education levy ballot.

    According to the preliminary estimate:

·        The General Fund levy is projected to see a decrease or remain flat depending upon the outcome of the November 5 Education Levy Referendum.

·        The Community Education levy is projected to see a decrease.

·        The Debt Service levy is projected to see an increase related to slow property sales. Debt service could be adjusted downward in the future based on income realized from property sales.

Preliminary FY 2014 Estimates:

 

 

 

 

Pay 2013 Levy

Pay 2014 Levy

General Fund:

 

 

 

 

 

 

 

 

 

Prior Year Levy:

 

 

$11,231,837

 

 

 

 

 

 

Changes:

Referendum

($4,272,263)

 

 

 

Location Equity

$1,925,681

 

 

 

OPEB

($913,582)

 

 

 

Reemployment Insurance

($941,883)

 

 

 

Student Achievement

$241,345

 

 

 

Operating Capital

($395,500)

 

 

 

Other

($145,026)

 

 

 

Total Changes

($4,501,228)

 

 

 

 

-41.6%

 

 

FY 14 Levy (estimated):

 

 

 

$6,730,609

 

 

 

 

 

Community Education:

 

 

 

 

 

 

 

 

 

Prior Year Levy:

 

 

$1,100,709

 

 

 

 

 

 

Changes:

Other

($56,096)

 

 

 

Total Changes

($56,096)

 

 

 

 

-5.1%

 

 

FY 14 Levy (estimated):

 

 

 

$1,044,613

 

 

 

 

 

Debt Service:

 

 

 

 

 

 

 

 

 

Prior Year Levy:

 

 

$16,592,862

 

 

 

 

 

 

Changes:

Elim of Planned Property Sales

$3,812,224

 

 

 

Other

$40,857

 

 

 

Total Changes

$3,853,081

 

 

 

 

23.2%

 

 

FY 14 Levy (estimated)

 

 

 

$20,445,942

 

 

 

 

 

Total Levy (DRAFT)

 

 

$28,925,408

$28,221,164

 

 

 

 

($704,243)

 

 

 

 

-2.4%

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