Recently, we examined the improving state (NeSA) test scores in the Loup City district,
this week; we take a look at the budget.
Following a public hearing, the LCPS Board approved
a 2012-13 budget resolution calling for a slight decrease in the district’s tax
levy. The district’s total tax request decreased
$72,296 from the 2011-12 tax asking. Patron’s will be taxed at a rate of
$1.0637 per. $100 of assessed valuation, which is down from the $1.0668 rate in
2011-12.
Factors impacting the 2012-13 budgets include:
- The General Fund Budget will increase
.8% over 2012-13. The general fund tax levy shows an increase of $.0121
over 2011-12. The general fund levy is set at $.09735 (up slightly from
$0.9614)
- The Bond Fund requirements will
decrease $30,605 in 12-13, with the bond fund levy decreasing 16.9% compared to 2011-12. The decrease is mainly
due to our bond refinance last year. The bond fund levy is set at $0.0902,
down from $0.1054.
- The Total Tax Asking for 2012-13 shows
an overall decrease of 2.2% from the previous year. The total levy is set at $1.0637, down
from $1.0668
- District Cash Reserves total $2.28m, in the
general fund cash reserve, depreciation fund, and employee benefit fund.
Loup City maintains the maximum cash reserve allowed by state law.
Other Budget Facts:
- District
income is generated mainly (88%) from local property taxes.
- The
greatest expenditure in the general fund budget is for salary and benefits (65%).
- Assessed
valuation in the district increased just over
5% ($13m) this year
- State aid increased
$2,116, to $34,911. The high water
mark for state aid was $1.22m in 2003-04. In the last budget cycle
(2009-11) State aide averaged $639,000.
- The 2012-13
tax levy of $1.0637 is the second
lowest levy since 1995-96. The high-water mark for total tax levy was
$1.62 in 1996-97. As recently as 2003-04, the total levy stood at $1.19.
- The 2012-13
bond fund levy is the second
lowest, since the bond was passed. The highest bond levy was $0.26 in
1996-97.
Through thoughtful foresight, careful planning, and hard
work our Board has been able to maintain our staff, upgrade academic and
activity programs, improve our excellent facilities, and offer increased
opportunities to our students-all while keeping tax levy at near historic lows.
