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 2020):
- G.O. Bonds ($4,800,000) to support CPF projects and technology projects
- G.O. Bonds ($3,400,000) to for land purchases and traffic improvements at MGES
- Elimination of bonds (last payment in 2019):
- 2017 G.O. Bonds ($2,000,000) to support CPF projects
- 2017 G.O. Bonds ($2,000,000) to support technology projects
- 2017 G.O. Bonds ($1,985,000) for miscellaneous building improvement projects
- Approximately $186,000 in interest on Tax Warrants
- Approximately $218,000 in un-reimbursed textbook fee collection
Tax Rate/Levy Assumptions:
- All funding comes from local sources.
- FIT, CVET, Excise, and LOIT taxes are projected to be about the same percentage in 2020 as they were in 2019.
- The tax rate is computed on State Form 4. The levy will be whatever is required to raise needed revenue.
