New London School property tax levy will drop significantly
By STEPH TAHTINEN
MP Pleasant News
NEW LONDON — Property owners in the New London Community School District will be paying $2.39 less per $1,000 taxable valuation in property taxes for fiscal year 2014, according to the proposed budget.
The proposed budget shows a tax rate of 14.83527 per $1,000 in taxable valuation. This is a decrease of 2.38651 from the fiscal year 2013 rate of 17.22178 per $1,000 in taxable valuation.
To put this in perspective, a property valued at $50,000 will pay $741.76 in property taxes to the school district, over $100 less than the $861.09 the property owner paid in fiscal year 2013.
For the district, this lower tax rate means a decrease of $163,683 in property tax revenue — $1,512,228 in fiscal year 2014, compared to $1,675,911 in fiscal year 2013.
Total revenues for the proposed budget are listed at $9,052,818, which is $1,147,104 less than the total revenues of $19,199,922 from fiscal year 2013.
One area which hurt the school district in terms of funds was an increase in enrollment. The head count for fiscal year 2014 is 521.7, which is an increase of 11.8 or 2.3 percent over fiscal year 2013’s head count of 509.9.
This increase in enrollment is a double-edged sword for the district in terms of funding from the state. On one hand, in the general fund it brings in an additional $70,812 for the regular program district cost funding from $3,180,350 in 2013 to $3,130,722 in fiscal year 2014.
However, the district will experience a decrease of $152,244 in the budget guarantee funding it had in fiscal year 2013.
“That’s a decrease of 100 percent. That’s the ugly side,” said Superintendent Steve McAllister. “It’s difficult. You always want an increase in enrollment, but that budget guarantee hurt us.”
Total expenditures are listed at $6,916,363 for fiscal year 2014, a decrease of $1,124,007 from the $8,040,370 expenditures in fiscal year 2013.
The beginning fund balance is listed at $2,159,552. The ending fund balance is listed at $2,136,455.
The final budget is scheduled to be approved after a public hearing to be held on Thursday, April 11 at 7 p.m.
In other business, the board:
• Approved meal prices of $2.00 for kindergarten through fifth grade, $2.10 for sixth to 12th grade and $3.20 for adults in fiscal year 2014. Breakfast prices will remain the same at $1.25 for kindergarten through 12th grade and $1.60 for adults.
• Voted to keep the driver’s education fee the same at $335.
• Approved a transportation director job description and an agreement to share a transportation director with Mediapolis School District.
• Approved sharing agreements with Danville School District for high school boys and middle school co-ed soccer and middle school and high school co-ed cross country.
• Approved the resignation of Megan O’Neill as kitchen custodian.
• Approved the appointment of Courtney Troutman as middle school 1:1 special education associate.