2020 Winter Falls Pride Fall Magazine-2 - Flipbook - Page 18
FALLS PRIDE | PAGE 17
2020-2021 PROPERTY
TAX LEVY
General Fund Levy is 85% of the Total Levy; and is impacted most by changes in State (Aid)
Funding Levels.
13%
$5,083,259
85%
$33,269,109
General Fund
2%
$825,000
What is a revenue limit?
It's a limit on the money a district brings in
from state and local taxes. The state legislature
voted "yes" to it in 1993 to reduce tax burden,
and it has been in place ever since. This limit is
chiefly based on headcount, so the more
students a school district has, the higher its
revenue limit. When enrollment goes down, so
does the revenue limit.
How does our changing enrollment impact
our district's funding?
In the 1970s, our district served 8,200 students.
Currently, we serve around 4,000 students. For
the last several years, we have seen our
enrollment level out which will help with future
budgets.
OUR BUDGET PROCESS
The process of creating and approving a
budget for the school district is
actually a year-round process. After the
2020-21 budget was provided to our
municipality in November, the board
began working on future budget priorities
as soon as December or January.
FINANCIAL QUICK FACTS
Financial audit opinion continues as
unqualified (‘clean audit opinion’)
Multi-year budget planning and
implementation of cost control
strategies will help provide for future
financial stability
99% of the $32.7 million in facility
projects are now complete (>80
projects completed under budget
and ahead of pre-referendum
schedule)
Enrollments ahead of projections
which will help soften future budget
gaps
Annual budget process continues to
improve five-year budget forecast
Take an in-depth look at our budgets, visit
our website: www.fallsschools.org/board/budget