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Budget Assumptions

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

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.