Embed Size (px)
DESCRIPTION
Operating Levy Renewal - 2013. Levy versus Bond. Levy = Learning. Bond = Building. Student enrollment is the key driving factor for revenue from the State of Minnesota and revenue generated by local operating levies. Declining Enrollment . Number of Hastings Students. 5100 Students. - PowerPoint PPT Presentation
Citation preview
Operating Levy Renewal - 2013
Levy versus BondLevy =
LearningBond = Building
Declining Enrollment
Student enrollment is the key driving factor for revenue from the State of Minnesota and revenue generated by local operating levies.
Number of Hastings Students
5100Student
s
4600Student
s
Back to the Classroom
Teachers returned to the classroom:Year Teachers2005 2822013 306
In 2003, the Hastings School District was operating in the red. We made a promise that we would lower class sizes when we became financially stable. Our enrollment has continued to decline and we have continued to add teaching staff. We have kept our promise!
2009/10 2016/17$28,300,000
$28,400,000
$28,500,000
$28,600,000
$28,700,000
$28,800,000
$28,900,000
Question: How does an extra $78 per pupil from the State of Minnesota result in less money for our district?
Answer: We have fewer students.
Note: The taxes have increased an average of $8.86 each year, over a thirteen year period. During that time the Hastings Community supported the following projects:
2001 $43.6 Million High School - Bond2003 Operating Levy2004 $5.4 Million Electrical & HVAC improvements at JFK and
Pinecrest Elementary - Bond2005 Operating Levy2006 $1.2 Million Library/Media Center at JFK Elementary – Bond2009 $19.2 Million Low Interest Bond Projects – Bond2011 Renewal of Operating Levy
School District - Property Tax History 2000 vs. 2013
Referendum Revenue
The State of Minnesota will help to pay for our operating levies more than ever before. School District Property taxes will not increase with a “Yes” vote on the renewal of the operating levy.
Local Tax Burden
Local Tax Burden
State Aid = $209,143
State Aid =
$1,150,045
Taxpayer Burden
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
6,000,000
6,500,000
7,000,000
7,500,000
8,000,000
8,500,000
Taxpayer Burden
The school district has structured the operating levy to increase by the state rate of inflation (estimated at 1.5% - 1.8%) annually.
Because the State of Minnesota is helping with the tax burden, it will take an estimated 8 years, for the tax burden to reach the level taxpayers were responsible for in 2012.
Current Taxpayer Burden $8.1 Million
What this means to Taxpayers…
Tax Impact of the State Equalization Formula Impact on the Taxpayers
Declining Enrollment/City Growth
Question: Student enrollment has declined while the population of the City has increased, what does this mean for the taxpayers? Answer: There are more people to share the cost of the tax burden.
2003 20130
5,000
10,000
15,000
20,000
25,000
5,100
4,600
19,692
22,246City of Hastings Population
School District Enrollment
2013 Ballot
Language
School District Taxes will decrease with a yes vote. However, legally the ballot has to state that there is a tax increase because the levy amount will increase by the state inflationary rate over the life of the levy.
You decide…
Ballot Question Tax Impact
