River Valley School District 20082009 Tax Levy Certification

1
River Valley School District2008-2009Tax Levy
Certification

• October 27, 2008

2
Tax Levy

• The 2008-2009 allowable tax levy to support this
  years budget will be 7,814,687 which equates to
  a 8.74 mill rate per 1000 of property
  valuation. This is an increase of .15 cents mill
  rate per 1000 of property valuation from the
  2007-2008 school years which was 8.59.
• As always, the district was extremely cautious at
  this years Annual Meeting on September 11, 2008
  when presenting tax impact estimates to the
  public. Although the districts seven year
  property valuation increase averages 5.57, the
  district used a conservative property valuation
  increase estimate of 3 to minimize this unknown.
  Table 1.0 reflects the comparisons of the actual
  tax impact from last fiscal year (2007-08) to
  this fiscal year (2008-09) for varying property
  values.

3
ESTIMATED PROPERTY VALUE TAX IMPACT 2007-08

• Table 1.0 depicts the individual home owners tax
  impact compared to last year.

4
Tax Impact on Property Valuation
Table 1.0
5
Actual General Aid Certification Comparison to
Annual Meeting Projection

• At this years Annual Meeting it was estimated
  that district general aid certification would be
  7,314,868. Actual October Aid Certification is
  7,311,176. Table 2.0 reflects this difference.

• Table 2.0
• General Aid Est. Annual Meeting Actual
  General Aid Change
• (September 11, 2008)
  (October 27, 2008)______________
• 7,314,868 7,311,176
  (3,692)

6
If You Recall

• The estimated actual district tax mill rate per
  1000 of property valuation is 4 cents lower than
  projected at the Annual Meeting. As I stated at
  the Annual Meeting, I took a conservative
  approach when estimating the districts property
  valuation with an increase of 3. At this time I
  indicated that I was cautiously optimistic that
  the districts property valuation would increase
  more than projected and our mill rate would be
  better. When overall district equalized property
  valuation actual figures were certified by the
  State, district property valuation increased by
  3.5, thus the districts mill rate dropped from
  the Annual Meeting estimate of 8.78 to 8.74 per
  1000 of property valuation. Table 2.1 depicts
  this difference while Table 2.2 shows the
  districts historical property valuation increases.

7
Mill Rate(Table 2.2)

• 8.74 Actual October 27, 2008
• 8.78 Annual Meeting September 11, 2008
• ____________________________________
• (0.04) Difference

8
Historical Property Valuation Increases(Table
2.2)
9
Membership Count

• School finance regulations specify the amount of
  dollars the district is permitted to raise from
  property taxes and general state aid. This
  amount is called the revenue limit. Student
  enrollment, which is based upon a three year
  average, is a major component to the revenue
  limit calculation, specifically the districts
  Third Friday count and Summer School count.

10
Membership Implications

• As I indicated at this years Annual Meeting the
  district anticipated a decrease in student
  enrollment from the prior year of 53 students.
  The districts actual 2008-2009 September and
  Summer School enrollment decreased by 47 students
  from 2007-2008 a difference of 6 students. Table
  2.3 reflects this difference.

• Table 2.3
• Enrollment  
• 3rd Friday Summer School Count
• 2007-2008 2008-2009 Difference
  1447 1400 (47)

11
(No Transcript)
12
Mill Rate Analysis

• 2004-2005 9.23
• 2005-2006 8.11
• 2006-2007 8.94
• 2007-2008 8.59
• Actual
• 2008-2009 8.74

13
(No Transcript)
14
Budget Change Request
15

• Claiborne Pell once said
• The strength of the United States is not the
  gold at Fort Knox or the weapons of mass
  destruction that we have, but the sum total of
  the education and the character of our people.

16
While we need to attend to financial numbers, in
the bigger picture of what we are all about it
can even be more than owing an education to our
children.We can help to open the mind and heart
to

• lifes mysteries to be told
• wondrous possibilities that life holds
• the awesome potential in each to unfold

17
Herein Lies The Real Gold
18
Questions?