• Introduction
  • Education
  • Operations
  • Debt Service
  • Budget Assumptions
  • Revenue Estimate
  • Spending Plan
  • Cash Flow
  • Misc.
    OCTOBER 21, 2021

    Revenue Assumptions:

    • The tax rate will be set to generate the funds needed for the revenue plan.
    • The state has developed a formula for determining what our year-end cash balance can be. We have shown this calculation on the Debt Service Worksheet.

    Expenditure Assumptions:

    • See DLGF worksheet
    • Addition of new bonds (first payment in 2022):
      • G.O. Bonds ($5,500,000) to support CPF projects and technology projects
      • G.O. Bonds ($5,500,000) for PGES Phase II and miscellaneous building improvement projects
      • Bonds ($5,170,000) for construction of the Emergency Operations Center
    • Elimination of bonds (last payment in 2021):
      • 2019 G.O. Bonds ($4,800,000) to support CPF and technology projects
      • 1996 Common School Loan ($1,800,000) to remodel the high school
    • Approximately $81,000 in interest on Tax Warrants
    • Approximately $161,000 in un-reimbursed textbook fee collection

    Tax Rate/Levy Assumptions:

    • All funding comes from local sources.
    • FIT, CVET, and Excise taxes are projected to be about the same percentage in 2022 as they were in
    • The tax rate is computed on State Form 4. The levy will be whatever is required to raise needed revenue.