By Jalen Maki
Tomahawk Leader Co-Editor
TOMAHAWK – Tomahawk School District Administrator Terry Reynolds provided an update on the district’s 2019-2020 budget in a release from Wednesday, Oct. 23. The School Board approved the budget and levy in their meeting on Tuesday, Oct. 22.
The district’s FTE enrollment, which is directly related to how much a school district may levy each year, decreased by eight FTE students.
“However, the revenue limits are based on a three year FTE average,” Reynolds explained. “Our FTE enrollment count (three yr. avg.) this year is 1,180 (last year’s three year average was 1,199). We continue to experience a decline in our FTE enrollment for revenue limit purposes.”
A 2019-2020 budget of $19,848,488, a 3.86% increase from last year, was developed to cover “the total costs to educate our students this year,” Reynolds stated. The district will see a $140,184.00 decrease in State general aids, down 15.5% from last year.
A tax levy of $14,021,134 was also approved by the Board, a 1.18% increase from last year. The District levy rate decreased by five cents from last year to $9.31 per $1,000. “The decrease in the levy rate is mainly attributed to the increase in equalized value of $24,712,970,” Reynolds said.
Reynolds also stated that, with the passage of the 2017 Operational Referendum, the District‘s debt service was able to be paid off in January of 2018, and that the budget is balanced.
“This will be the second year since the 2014-15 school year in which the district has not needed to deficit spend in order to maintain current student programming and provide the necessary educational supports for students in the district,” he said. “This positive financial position can be attributed to the successful operational referendum which was passed in the District in April of 2017.”
Reynolds added that any Fund 10 reserves this year would be used to offset budget deficits that are projected in the near future and to pay for ongoing building maintenance and equipment needs.
Questions regarding the budget can be directed to Reynolds at 715-453-5555.