INDEPENDENT SCHOOL DISTRICT No. 318 TRUTH IN TAXATION MEETING TAXES PAYABLE YEAR 2017 BUDGET YEAR 2016-2017

PROPOSED LEVY $ 11,449,111.08 Last Year = $10,384,643.85 Increase of $1,064,467.23 or 10.25%

PROPOSED LEVY $ 11,449,111.08 Last Year = $10,384,643.85 Increase of $1,064,467.23 or 10.25%

CHANGES FROM LAST YEAR Local Option Levy increased from $290 to the Maximum of $424 per student (+$543,000) Lease Levy decreased due to final payment on Forest Lake portable classrooms (-$90,000) Student Achievement Levy formula changed by State (-$70,000) Operating Capital Formula Change (-$169,000) LTFM – increased to Max (+$940,000)

LEVY BY FUND DEBT SERVICE – MS BLDG. BONDS – end Feb 2018 2016 Levy was $2,853,051.97 2017 Levy will be $778,294.30 (VOTER APPROVED LINE ON TAX STATEMENT) DEBT SERVICE – OPEB BONDS 2016 Levy was $2,393,363.08 2017 Levy will be $4,521,571.83 NET INCREASE of $53,451.08 Levy spread on Net Tax Capacity, Major capital projects Debt schedule ending in 2018

LEVY BY FUND COMMUNITY SERVICE FUND Components BASIC COMMUNITY EDUCATION $ 207,075.45 EARLY CHILDHOOD FAMILY ED 144,684.42 SCHOOL AGE CARE 10,000.00 HOME VISITS 4,835.00 TACONITE LEVY REPLACEMENT -366,594.87 TOTAL $ 0.00

RECAP LEVY BY FUND DEBT SERVICE $ 778,294.30 GENERAL – RMV 3,543,602.17 GENERAL – NTC 2,605,642.78 COMMUNITY SERVICE 0.00 OPEB DEBT SERVICE 4,521,571.83 TOTAL LEVY $11,449,111.08

WHAT CAN CHANGE LEVY ? Reduce Local Optional Tax – RMV Under levy Long Term Facilities Maintenance - NTC Refinance OPEB BONDS - NTC

Budget Information Because approval of the budget lags certification of the tax levy by six months, the state requires only current year budget information be presented at this hearing.

ISD 318 REVENUE SOURCE 2016-17

Next Steps Tonight – The public is invited and allowed to speak and to ask questions concerning the budget and proposed property taxes. After closing the public hearing tonight, the School Board will consider the information and vote on the final certified tax levy payable in 2017, at their December 19, 2016 meeting.