Janesville51.4°

Edgerton School District budget

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Gazette Staff
October 28, 2008

Highlights:


-- The tax rate is up slightly from the preliminary budget presented in August because the district overestimated the increase in property value, Business Manager Mark Worthing said. The district estimated 7.5 percent growth, but property values actually grew by 5.8 percent.


-- The district will have to pay about $50,000 more than expected in interest on its short-term borrowing this year. Districts are having trouble borrowing money during the credit crunch and as a result are paying higher rates, Worthing said.


-- The district cut 0.75 staff positions this year because of a decrease in state aid and expected enrollment decline.


-- The district will use $240,000 in fund balance this year, Worthing said.


Total budget


This year: $24.9 million


Last year: $24.2 million


Increase: 2.7%


Tax levy


This year: $7.8 million


Last year: $7.9 million


Decrease: 1.5%


Tax rate


(Per $1,000 of equalized valuation)


This year: $7.71


Last year: $8.28


Decrease: 6.9%


Note: Percent changes calculated on whole numbers.



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