Public school revenues are derived directly or indirectly from state and local taxes. The state support for the education fund and part of the operations fund is generated from sales tax and income tax. Local taxes received by schools are from the collection of property taxes and auto license excise taxes.
Four funds divide the annual budget. Data is reviewed and presented at the annual budget hearing in September. Each fund is described briefly below:
EDUCATION FUND: The largest of the four funds which finances the instruction and instructional support of the schools including personnel salaries, fringe benefits, and supplies.
OPERATIONS FUND: This fund finances the operations of the schools including salaries, fringe benefits, utilities, building maintenance, capital improvements, transportation, and bus purchases.
DEBT SERVICE FUND: This fund is used primarily for financing buildings through lease rental agreements and bond obligations.
REFERENDUM DEBT SERVICE FUND: This fund is used primarily for financing buildings through lease rental agreements and bond obligations that have been approved through the referendum process.
The Budget
EXPENDITURES - 2023
| Education Fund Expense Budget |
|
|
Operations Fund Expense Budget |
|
| |
|
|
|
|
| Salaries |
68.92 % |
|
Salaries |
32.74 % |
| Fringe Benefits |
25.45 % |
|
Fringe Benefits |
16.61 % |
| Supplies |
4.17 % |
|
Supplies and Equipment |
18.32 % |
| Services |
1.35 % |
|
Services |
19.81 % |
| Miscellaneous |
.11 % |
|
Utilities |
12.04 % |
| |
|
|
Miscellaneous |
1.03 % |
| Education Fund |
|
$54,878,775 |
| Operations Fund |
|
$19,619,004
|
Debt Service Fund
|
|
$16,965,956
|
Referendum Debt Fund
|
|
$2,649,000 |
NACS 2024 assessed valuation: $3,786,107,865
NACS 2024 tax rate is as follows:
Operations Fund
|
|
$ .3405 |
Debt Service Fund
|
|
$ .4752 |
Referendum Debt Fund
|
|
$ .0640 |
Total tax rate
|
|
$ .8797
|