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Budget presenter outlines tax-levy calculation, proposed levy and capital propositions
Summary
The district's budget presenter reviewed the tax-levy cap methodology and proposed a 1.84% tax levy under a 1.85% cap; presenters described a recommended new capital reserve and a package of summer projects funded through a mix of reserves and an indicated transfer from the general fund.
Mr. Manuel, the board's budget presenter, walked through the tax-levy cap calculation and the district budget summary, noting the calculation includes growth factors and a capital-exclusion component that reduced the capital exclusion this year from $1,500,000 to $665,000. He said the district's proposed tax levy is 1.84% compared with a computed cap of 1.85%.
Manuel also summarized revenue sources and the budget-to-budget increase (presented as 2.83%) and highlighted proposed capital projects for the coming summer. He described a proposal to create a new capital reserve and explained that setting a reserve requires board resolutions and later voter authorization to spend the funds. On schedule, the board was told the budget adoption is set for March 26, with voter consideration in May. "March 26 is the adoption of the budget by the board of ed," Manuel said.
