Skip To Main Content

Budget Assumptions

alt-text
 
Introduction
Education Fund
Operations Fund
Debt Service Fund
Budget Assumptions
Revenue Estimate
Spending Plan
Cash Flow
Miscellaneous

 DEBT SERVICE FUND
BUDGET ASSUMPTIONS
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
    2021.
  • The tax rate is computed on State Form 4. The levy will be whatever is required to raise needed revenue.