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Budget Assumptions

2018 CGCSC Budget
 
Introduction
General
Debt Service
Capital Projects
Transporation
Bus Replacement
Budget Assumptions
Revenue Estimate
Spending Plan
Cash Flow
Miscellaneous

 

DEBT SERVICE FUND
October 26, 2017


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 2018):
    • O. Bonds ($1,990,000) to support technology projects
    • O. Bonds ($1,990,000) to support CPF projects
    • O. Bonds ($1,990,000) to support miscellaneous renovations
  • Elimination of bonds (last payment in 2017):
    • 2010 G.O. Bonds ($1,970,000) for technology
    • 2011 G.O. Bonds ($490,000) for science textbooks & technology
    • 2014 G.O. Bonds ($1,970,000) for the IT Center
    • 2015 G.O. Bonds ($1,990,000) to support CPF projects
    • 2015 G.O. Bonds ($1,990,000) to support technology projects
    • 2015 G.O. Bonds ($1,990,000) for PGES renovations
  • Refinancing of bonds
    • None in 2017 or 2018
  • Approximately $62,000 in interest on Tax Warrants
  • Approximately $197,000 in un-reimbursed textbook fee collection

Tax Rate/Levy Assumptions:

  • All funding comes from local sources.
  • FIT, Excise, and CVET taxes are projected to be about the same in 2018 as they were in 2017.
  • The tax rate is computed on State Form 4. The levy will be whatever is required to raise needed revenue.