Budget Assumptions
BUDGET REPLACEMENT FUND
October 26, 2017
Revenue Assumptions:
- Miscellaneous taxes will be the same as 2017
- The maximum levy increases each year based on a growth quotient, which is 4.0%.
- Revenue is estimated to be $1,060,000, which is less than what is required to fund requested replacements
Expenditure Assumptions:
- We have assumed 5% inflation in the cost of buses each year
- Replacement buses needed in 2018, as identified in the 12-year plan:
- $918,000 to replace 10 buses in 2018 at a cost of $108,000 each for 78-passenger buses,
and $54,000 for smaller buses
- $918,000 to replace 10 buses in 2018 at a cost of $108,000 each for 78-passenger buses,
- Additional bus needs in 2018:
- Two 78-passenger buses
- Total cost of the above 11 buses is $1,134,000
Tax Rate/Levy Assumptions:
- Tax rate is computed on State Form 4. The maximum levy will be based on the growth quotient.