Truth in Taxation Report ISD 51, Foley, Minnesota December 14, 2010 Presenter: Michelle Czech, Director of Finance
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- 1. Truth in Taxation Report ISD 51, Foley, Minnesota December 14, 2010 Presenter: Michelle Czech, Director of Finance
- 2. Truth in Taxation Law
- Minnesotas Truth in Taxation Law requires that cities, counties and school districts follow certain steps before adopting a tax levy for the following year. One important part of that law requires a mailed notice to each property owner in the county, which describes the tax levies proposed by the city, county and school district and what percent increase (decrease) such a levy would mean in dollars.
- 3. Truth in Taxation Public Hearing
- Part 2 of the law - Truth in Taxation
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- Public hearing for each taxing jurisdiction
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- Specific type of public notice
- Tonight is the school districts public hearing
- 4. Requirements of Truth in Taxation Hearing
- 1. Tax levy must be for taxes payable 2011
- 2. Discussion must include:
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- Current budget
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- Proposed percent increase/decrease of levy
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- Reasons for the increase/decrease
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- 4. Public must be given time to comment
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- Minnesota Statute 275.065
- 5. Judge Randy Peterson Former Senator Education Finance
Committee
- As a practical matter, school districts really dont have very much authority, any meaningful authority anyway, over their local taxing decisions. With the exception of decisions to build school buildings and the excess-levy referendums...school district taxing decisions are pretty much a matter of state law...
- 6. School District Budget Current School Year 2010-2011
- 7. School District Funds
- General Fund
- Community Education Fund
- Food Service Fund
- Building Fund
- Debt Service Fund
- 8. Budget 2010-2011
- 9. General Fund
- Based on student enrollment
- Local operating levies
- Transportation
- Special Education
- Capital
- Health and Safety
- Federal Grants
- 10. End of Year Adjusted Average Daily Membership
- 11. General Fund by Department
- 12. General Fund Salaries
- 13. Community ED Fund
- Based on the adult population in the District
- Early Childhood is based on the number of children under 5 years of age
- Participation Fees
- 14. FOOD SERVICE FUND
- Based on Federal Grant of free/reduced lunch
- Based on student participation
- 15. Other District Funds
- Building Fund
- One day bond sales
- Elementary building project
- DEBT SERVICE FUND
- Based on Maximum Effort Loan through 2019
- Pay the Districts Bond Payments
- 16. Schools District Levy
- 2010 Payable 2011
- 2011-2012 School Year
- 17. Authority for School Levies
- Set by State Formula
- Board Approved within State Law
- Voter Approved
- 18. How Your School Taxes Are Spent
- 19. Levy is Increasing by $71,403 Or 1.94%
- 20. Levy Percentage by Fund
- 21. Levy Changes for Pay 2011
- Increase of $132,452 in Debt Service
- Decrease of $40,726 in Health & Safety- General Levy
- 22. General Education Aid & Levy
- 23. Detail of General Fund $ 14,806,779.00 $ 806,975.52 $ 14,314,616.00 TOTAL $ 13,852,275.00 4% $ 497,087.39 $ 13,655,620.00 UNRESERVED+BASIC SKILLS $ 88,169.00 $ - $ 65,000.00 ALT LEARNING CENTER $ - $ - $ - SEVERANCE-DESIGNATED $ 185,000.00 $ - $ - ACTIVITIES-DESIGNATED $ 50,500.00 $ - $ - STAFF DEVELOPMENT-BLDG $ 23,139.00 $ - $ 23,139.00 GIFTED AND TALENTED $ - $ - $ - DISABLED ACCESS $ 57,996.00 100% $ 57,766.80 $ 58,530.00 SAFE SCHOOLS $ 7,000.00 83% $ 62,244.50 $ 75,101.00 DEFERRED MAINTENANCE $ 476,500.00 40% $ 149,988.84 $ 373,235.00 OPERATING CAPITAL $ 66,200.00 100% $ 39,887.99 $ 63,991.00 HEALTH & SAFETY EXPENDITURES LEVY SUPPORT REVENUE DESCRIPTION 2011 2011 PROPERTY TAX 2011
- 24. COMMUNITY EDUCATION $ 440,343.00 21% $ 98,424.47 $ 461,060.00 TOTAL $ 346,010.00 19% $ 67,962.38 $ 357,861.00 COMMUNITY EDUCATION $ 94,333.00 30% $ 30,462.09 $ 103,199.00 ECFE EXPENDITURES LEVY SUPPORT REVENUE 2011 2011 PROPERTY TAX 2011
- 25. Debt Service Aid & Levy
- 26. Causes of Property Tax +/-
- 1. Changes in market values.
- 2. Changes in class rates/history.
- 3. Changes in state formula.
- 4. Voter approved Referendums.
- 27. Changes in Market Value
- Market Values are final
- Discussed at:
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- Local Board Review
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- County Board of Equalization
- Final Taxable Market Value
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- May reflect a reduction (limited value law)
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- May exclude improvements to property
- 28. ISD 51 Resolution
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