TOWN OF BELOIT - Turner officials are projecting a 92-cent increase on the district's levy rate in light of the facilities referendum and 2019-2021 state budget.
This would mean a $92 increase on a property assessed at $100,000. Officials originally estimated the taxpayer impact due to the referendum would be $99 for a $100,000 property.
The School District of Beloit Turner Board of Education will review the district's budget and tax levy during the annual meeting. The meeting is set for 7 p.m. Monday at the District Board Room, 1237 Inman Parkway.
The proposed tax levy for the 2019-2020 school year is $5,475,420, which is an increase from last school year's levy of $4,796,600. The total projected levy rate for the 2019-2020 school year is $11.18. The 2018-2019 school year's levy rate was $10.26.
Brad Boll, director of business services, said the proposed budget and tax levy won't be finalized by the board until October. Boll said the levy rate will likely change by the time the board approves it later this year.
"We continue to believe that come October, our levy rate could potentially be even lower, but are continuing to use conservative estimates throughout this process," Boll said.
In terms of open enrollment, Boll said the district is estimating a net gain of $2,575,000. This rough estimate is slightly lower than the unaudited net gain from the 2018-2019 school year, which was $2,656,252. However, Boll said the district is still using conservative estimates.
In terms of the district's general fund, Turner is projecting to have $16,585,420 in revenue and $16,716,662 in expenses. The 2018-2019 unaudited totals are $17,115,199 in revenue and $16,933,000.19 in expenses.
The district's proposed budget also projects the district receiving $8,390,119 in state aid.
"Basically, we estimate that the $175 per student increase in the revenue limit will generate an additional $90,119," Boll said.
The district received $8,289,476 in state aid for the 2018-2019 school year.
Voters approved a $26.485 million facilities referendum plan in November of 2018. The plan calls for renovations to the middle/high school bleachers and gym floor; more secure entrances to be installed at Powers Elementary School and the middle/high school; science, technology, engineering, arts and mathematics (STEAM) renovations and additions at the middle high school; and building a new second-fifth grade elementary school. The plan will move second graders out of Powers Elementary School and close Townview Elementary School.