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Semelhante a Consolidation Forum -Financial Impact
Semelhante a Consolidation Forum -Financial Impact (20)
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Consolidation Forum -Financial Impact
- 1. “Why We Support the Valdosta City School System in Opposing Consolidation”Community Forum Lowndes County SchoolsWorking Together for Excellence Every Day
- 2. Financial Impactof ConsolidationDr. Troy Davis, Assistant SuperintendentLowndes County Schools Lowndes County SchoolsWorking Together for Excellence Every Day
- 3. ConsolidationA Financial Puzzle
- 4. The following information reflects the current and consolidated local revenue for the Lowndes County School System and the Valdosta City School System.
- 5. Lowndes County Schools Lowndes Millage Rate 14.70 mills Lowndes per Mill Value $1,404,831.00 Lowndes Local Revenue $20,651,018.00
- 6. Valdosta City Schools Valdosta City Millage Rate 16.98 mills Valdosta City per Mill Value $1,476,538.00 Valdosta City Total Local Revenue $25,071,615.00
- 7. Total Local Revenue Both Systems $45,722,633.00
- 8. Lowndes County Schools (To stay as currently funded with consolidation) Consolidated Millage Rate 16.317 mills Consolidated per Mill Value $2,802,088.00 Consolidated Local Revenue $45,722,633.00
- 9. Community Unification for Educational Excellence, Inc. (CUEE) - http://www.cueeinc.com/ What is the request financially? Using CUEE informationto find the answer…..
- 11. In a consolidated system, CUEE is stating that balance will be achieved at the cost of $2,167.00 more per Valdosta City School System student. Total Cost Annually - $16,083,474.00.
- 12. Answer to CUEE’s Question: Using the Community Unification for Educational Excellence, Inc. (CUEE) consolidated projections, one cost required would be $16,083,474.00 or 5.74 additional mills to remain at the same level of expenditures per student for the consolidated Lowndes County School System.
- 13. To meet the requirements of CUEE, the consolidated millage rate would be 22.07 mills. State law restricts the maximum millage at 21 mills.
- 14. The MAXIMUM tax rate of 21 Mills will be insufficient to meet the first financial item on the CUEE list.
- 15. CONSOLIDATED TAX DATA (Tax to meet the demands of CONSOLIDATION) Millage Rate 21.00 mills Mill Value $2,802,088.00 Total Local Revenue $58,843,848.00
- 16. Setting a millage rate of less than 21 mills will result in further loss of programs benefitting our students. There will be winners and losers.
- 19. Consolidation will increase costs NEW CLASSES TRANSPORTATION SOFTWARE TECHNOLOGY BENEFITS SALARIES LEGAL PER PUPIL EXPENDITURES
- 20. Consolidation will decrease: EQUALIZATION FUNDING FEDERAL FUNDING STATE QBE FUNDING TEACHERS ADMINISTRATORS NEW SCHOOLS SUPPORT STAFF SALARIES
- 22. Property Owner
- 23. Renter
- 24. Business Owner
- 25. Citizen
- 27. CONSOLIDATED SCHOOL TAX Taxable Value = $89,972.00 Multiply by Mill Rate X .02100 Current School Tax $1,889.41
- 28. Property Owner Tax Difference Lowndes County School Tax Taxable Value = $89,972.00 Multiply by Mill Rate X .01470 Current School Tax $1,322.59 CONSOLIDATED SCHOOL TAX Taxable Value = $89,972.00 Multiply by Mill Rate X .02100 Current School Tax $1,889.41 TAX INCREASE $1,889.41 - $1,322.59 = $566.82 42%
- 29. Valdosta City School Tax Taxable Value = $106,721.00 Multiply by Mill Rate X .01698 Current School Tax $1,812.12
- 30. CONSOLIDATED SCHOOL TAX Taxable Value = $106,721.00 Multiply by Mill Rate X .02100 Current School Tax $2,241.14
- 31. Property Owner Tax Difference Valdosta City School Tax Taxable Value = $106,721.00 Multiply by Mill Rate X .01698 Current School Tax $1,812.12 CONSOLIDATED SCHOOL TAX Taxable Value = $106,721.00 Multiply by Mill Rate X .02100 Current School Tax $2,241.14 TAX INCREASE $2,241.14 - $1,812.12 = $429.02 23%
- 32. One important key to consolidation is the demand and need for more money. Consolidation will cost more, and we as taxpayers will be expected to pay the bill.
- 33. Lowndes County SchoolsWorking Together for Excellence Every Day