USD 383 school board members will consider three options for a proposed 2014 budget during their regular meeting Wednesday.
The discussion, which is expected to result in approval of one of the options, follows up on discussions during the board’s July 24 meeting. Board members must determine how to fund $1.6 million in additional spending they committed to during the year. Those commitments include money to fund additional planning time the board promised to elementary teachers, and it also includes average 2.5 percent salary increases and $750 additions to base pay negotiated between the board and the teachers union.
Here’s a summary of the impacts of the three options expected to be considered Wednesday:
Option Two: This option would increase the local option levy to 27.55 percent, raising $922,397, and would draw $115 per student from district reserve funds to reach the needed $1.6 million. It would translate to a 3.4 percent increase in the district’s budget, and to a 2.271 mill increase in the property tax levy. Factoring in valuation increases, this option is projected to involve $449 in taxes per $100,000 of assessed value for residential property owners, an increase of $54.22 from last year.
Option Three: This option would increase the local option levy to 27.45 percent, and would borrow $120 per student from reserve funds to make up the difference. It would represent a 3.3 percent budget increase, increasing the tax bill to $558.85 per $100,000 of property.
That’s an increase of $53.64 from last year using the same valuation growth assumptions.
Option Four: This option would involve raising the local option levy to 27.2 percent, and would borrow $135 per student from reserve funds. It would represent a 3.3 percent overall budget increase and a 2.095 increase in the levy.
Residential taxes would increase to $557.11 per $100,000 in property value, an increase of $51.90 from last year using the same valuation growth assumptions.
Assuming board members settle on one of the options, that option is expected to be the subject of a public hearing prior to final approval Aug. 21. The meeting will be at 6:30 p.m. Wednesday at Robinson Education Center.