Richland City School District Funding Overview
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FY2018 Revenue Sources
•
$8,548,221 - General Property Taxes
– Class I (Residential and Agricultural)
and Class II (Mineral, Industry and Commercial)
•
$3,504,847 - Unrestricted State Aid
– Funding based on student data
•
$2,976,714 - Other Operating revenue
– Open enrollment, Tuition, Excess
Cost, Interest, Donations, Medicaid
•
$922,401 - Property Tax Reimbursements
– Homestead, Rollback and
Owner Occupied reductions
•
$916,053 - Public Utility Personal Property
– Public Utility Property
•
$55,202 - Restricted State Aid
– Career and Economically disadvantaged
Funing
•
$32,670 - Other
– Miscellaneous rebates and refunds
•
$16,956,109 - Total General Fund Revenue for Fiscal Year 2018
Millage
•
A mill is $1.00 in taxes for every $1,000 of assessed (taxable) value.
•
Inside Millage
– These mills increase revenue as valuation increases.
•
Voted Millage
– The rate of these mills are adjusted each year to keep the amount of revenue the
same as when it was voted. Growth of revenue in voted millage comes only from new sources
such as new construction and now oil & gas drilling.
•
There is a “20 mill floor”. The collection rate can not go lower than 20 mills.
•
Example of Residential Property Tax : A home valued at $100,000 is only taxed on 35% which is
$35,000. So the assessed (taxable) value is $35,000. This value is then divided by $1,000, which is
35, then multiplied times the effective millage rate. The current building project is asking for 8.56
mills so 35 times 8.56 equals $299.60. So the cost of the 8.56 mill levy to a homeowner of a
$100,000 home is $299.60 per year or $24.96 a month. This example does not include any
deductions that may be applicable.
PropertyTaxes
•
Class I
– Residential and Agriculture
•
Class II
– Mineral, Industrial and Commercial
•
PUPP
– Public Utility Personal Property
•
Almost 50% of a Levy would be paid by business
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Tax Increment Financing – Funds that are usually collected as property taxes
are placed in a fund to pay for infrastructure.
•
The District entered into two TIFs.
•
One with the City for the infrastructure needed for the St. Clairsville Commons Senior
Suites and is limited to two parcels.
•
The second was with the County for the Mall loop and overpass and is limited to $35
million of new valuation.
•
The Goal is New Growth
•
Good News
-
New School Millage was excluded from both of the TIFs
-
Both TIFs has mechanisms built-in to potentially pay the School
their full amount of revenue through direct payments should certain
conditions be met.
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State Per Pupil Funding is
$6,020.00
•
The State also funds other categories such as special education, gifted, and
transportation.
•
All of these funds are multiplied times our State Share Index of
13.85%.
•
Therefore we are funded at $6,020.00 * .138511365 = $833.84 per pupil.
•
However, St. Clairsville is on the
Guarantee
. The Guarantee is additional
funding so that you receive at least the same funding as a prior year.
•
Open Enrollment is a significant revenue source. When a student comes
from another District to our District we collect $6,020.00 for that student
and vice versa. St. Clairsville netted $593,029.61 in open enrollment in
fiscal year 2018. $1,500,558.37 was received for students that open
enrolled into our District and $907,528.76 was deducted for student that
open enrolled out.
Richland City School District's FY2018 revenue sources include property taxes, state aid, and other income streams. The breakdown of funds showcases contributions from various sectors, emphasizing the district's financial structure and allocation strategies.
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Presentation Transcript
School Funding 101 School Funding 101 Clairsville- -Richland City School District Richland City School District St. St. Clairsville
St. St. Clairsville Clairsville- -Richland City School District Richland City School District FY2018 General Fund Revenue Sources FY2018 General Fund Revenue Sources Other Financing, $32,670.00 , 0% Other Operating, $2,976,714.00 , 18% Property Reimbursements, $922,401.00 , 6% General Property , $8,548,221.00 , 50% Restricted State Aid, $55,202.00 , 0% Unrestricted State Aid, $3,504,847.00 , 21% PUPP, $916,053.00 , 5%
FY2018 Revenue Sources $8,548,221 - General Property Taxes Class I (Residential and Agricultural) and Class II (Mineral, Industry and Commercial) $3,504,847 - Unrestricted State Aid Funding based on student data $2,976,714 - Other Operating revenue Open enrollment, Tuition, Excess Cost, Interest, Donations, Medicaid $922,401 - Property Tax Reimbursements Homestead, Rollback and Owner Occupied reductions $916,053 - Public Utility Personal Property Public Utility Property $55,202 - Restricted State Aid Career and Economically disadvantaged Funing $32,670 - Other Miscellaneous rebates and refunds $16,956,109 - Total General Fund Revenue for Fiscal Year 2018
Millage A mill is $1.00 in taxes for every $1,000 of assessed (taxable) value. Inside Millage These mills increase revenue as valuation increases. Voted Millage The rate of these mills are adjusted each year to keep the amount of revenue the same as when it was voted. Growth of revenue in voted millage comes only from new sources such as new construction and now oil & gas drilling. There is a 20 mill floor . The collection rate can not go lower than 20 mills. Example of Residential Property Tax : A home valued at $100,000 is only taxed on 35% which is $35,000. So the assessed (taxable) value is $35,000. This value is then divided by $1,000, which is 35, then multiplied times the effective millage rate. The current building project is asking for 8.56 mills so 35 times 8.56 equals $299.60. So the cost of the 8.56 mill levy to a homeowner of a $100,000 home is $299.60 per year or $24.96 a month. This example does not include any deductions that may be applicable.
PropertyTaxes Class I Residential and Agriculture Class II Mineral, Industrial and Commercial PUPP Public Utility Personal Property FY2018 General Property Taxes $916,053.00 PUPP 10% $4,926,707.00 Class I 52% $3,543,489.00 Class II 38% Almost 50% of a Levy would be paid by business
TIF TIF Tax Increment Financing Tax Increment Financing Tax Increment Financing Funds that are usually collected as property taxes are placed in a fund to pay for infrastructure. The District entered into two TIFs. One with the City for the infrastructure needed for the St. Clairsville Commons Senior Suites and is limited to two parcels. The second was with the County for the Mall loop and overpass and is limited to $35 million of new valuation. The Goal is New Growth Good News - New School Millage was excluded from both of the TIFs - Both TIFs has mechanisms built-in to potentially pay the School their full amount of revenue through direct payments should certain conditions be met.
State Funding State Funding State Per Pupil Funding is $6,020.00 The State also funds other categories such as special education, gifted, and transportation. All of these funds are multiplied times our State Share Index of 13.85%. Therefore we are funded at $6,020.00 * .138511365 = $833.84 per pupil. However, St. Clairsville is on the Guarantee. The Guarantee is additional funding so that you receive at least the same funding as a prior year. Open Enrollment is a significant revenue source. When a student comes from another District to our District we collect $6,020.00 for that student and vice versa. St. Clairsville netted $593,029.61 in open enrollment in fiscal year 2018. $1,500,558.37 was received for students that open enrolled into our District and $907,528.76 was deducted for student that open enrolled out.
