Skip To Main Content

Budget Assumptions

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

 DEBT SERVICE FUND
BUDGET ASSUMPTIONS
OCTOBER 20, 2022

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:
    • G.O. Bonds ($5,815,000) to support CPF projects and technology projects
    • G.O. Bonds ($6,105,000) for the building and miscellaneous projects
  • Elimination of bonds (last payment in 2021):
    • 2020 G.O. Bonds ($5,170,000) to support CPF and technology projects
    • 2021 G.O. Bonds ($5,500,000) to support CPF and technology projects
  • Approximately $104,473 in interest on Tax Warrants
  • Approximately $207,000 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 2023 as they were in 2022.
  • The tax rate is computed on State Form 4. The levy will be whatever is required to raise needed revenue.