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

Revenue Assumptions:

  • The tax rate will be increased to provide funding 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 ($6,105,000) for the building and miscellaneous projects

  • Elimination of bonds (last payment in 2023):
  • 2022 G.O. Bonds ($6,010,000) to support CPF and technology projects
  • Approximately $211,650 in interest on Tax Warrants
  • $0 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 2024 as they were in 2023.
  • The tax rate is computed on State Form 4.  The levy will be whatever is required to raise needed revenue.