By: Seth Kinker, email@example.com
During their Jun. 10 meeting the Dexter Board of Education unanimously voted to adopt the tax levies and budget for the 2019/20 year.
The tax rate on all non-homestead properties will be 18.000 mills and the debt levy on all properties will be 8.5000 mills.
The projected fund balance equals $7,694,084. Instructional services (74%) continue to be the biggest program that expenses are allocated for, while salaries for teachers and substitutes/paraprofessionals (54%) account for the largest type of expense.
With that projected fund balance, the recommended budget projects $422,330 revenue over expense but employee group bargaining contracts are still being negotiated and that change will be reflected in the fall.
Board of Education member Dick Lundy clarified the passing of the budget is compliant with state law to pass a budget by the end of June but the final budget will come after the beginning of the next school year when funding becomes clearer. The three major variables that will have the largest impact are student count, state foundation, and state categorical grants.
Superintendent Chris Timmis added they were still waiting on budget proposals from the senate, the house, and the governor that could have an effect on funding.
One increased source of revenue next year will be from the state foundation allowance, up $106 per student from last year, now equaling $8,223 as Dexter schools projects continued growth in student count. Another highlight from the adopted budget means continued state categorical funding at the 2018/19 amounts.
Board President Michael Wendorf broke down the budget making process, which began in March, before thanking the finance committee for the work they put in.