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Park City School District finance staff presents budget snapshot and multi-year salary increases
Summary
District finance staff reviewed a working budget snapshot, explained recent multi-year salary schedule changes and how property-tax increments affect revenue, and said the current projected operating shortfall has narrowed from about $600,000 to roughly $2.68 million as of the presentation.
District staff delivered a budget overview and detailed how multi-year salary agreements have changed pay scales across teacher, administrative and classified salary schedules.
The presentation, given during the district’s work session, outlined property-value history, the local levy rate and how a single “increment” on the district’s tax rate translates to revenue. The presenter said the district’s assessed value for tax-rate math is $36,000,000,000 and that, on that base, one increment generates about $3,600,000.
District staff explained that the board approved a levy for the current fiscal year and noted the district has gone through truth-in-taxation proceedings the last three years. The presenter said the…
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