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School Board Prepares Maximum Levy Certification

posted Sep 16, 2013, 3:28 PM by Communications ISD 709   [ updated Sep 16, 2013, 3:54 PM ]

    During the September Business Committee meeting, ISD 709 administrators provided a preliminary levy estimate to the school board, emphasizing that the numbers would be adjusted as the district receives more information from the Minnesota Department of Education.

    The estimates were developed in preparation for the maximum levy certification process required by the Minnesota Department of Education, which takes place at the September Board meeting.  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 referendum. 

    According to the preliminary estimate, the General Fund would see a decrease or remain flat depending upon the outcome of the November 5 education levy referendum.  Community Education would see a decrease.  Debt service would 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 Levy Estimates:

 

 

 

 

Pay 2013 Levy

Pay 2014 Levy

General Fund:

 

 

 

 

 

 

 

 

 

Prior Year Levy:

 

 

$11,231,837

 

 

 

 

 

 

Changes:

Referendum

($4,295,672)

 

 

 

Location Equity

$1,925,681

 

 

 

OPEB

($913,582)

 

 

 

Reemployment Insurance

($941,883)

 

 

 

Student Achievement

$241,345

 

 

 

Operating Capital

($363,181)

 

 

 

Other

($321,999)

 

 

 

Total Changes

($4,669,291)

 

 

 

 

-41.6%

 

 

FY 14 Levy (estimated):

 

 

 

$6,562,546

 

 

 

 

 

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

$28,053,101

 

 

 

 

($872,306)

 

 

 

 

-3.0%

 

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