Budget Presentation 2017-18 Budget Preparation Midd-West School District 2-27-17 Finance Committee Presentation

Presentation Outline Act 1 2017-18 Timelines Governor's Proposed Budget PlanCon J Details SB76 / HB76 – Property Tax Elimination Unknown Impacts High School Budget Athletics Budget WSES Budget MS Budget ME Budget

Act 1 2017-18 Timelines 2017-18 adjusted index set at 3.4% Max millage increase to index is 2.3838 mills 2016 assessment currently at $ 174,808,640 (subject to change) Max additional revenue to index = $416,709 Pursuant to the resolution passed, the District may not increase tax rates by more than its index when preparing the final budget Timeline per Act 1 December 5, 2016 - Index resolution adopted May 31,2016 - Deadline to adopt preliminary budget June 30, 2016 - Deadline to adopt final budget & homestead/farmstead exclusion

From Governor's Executive Budget

From Governor's Executive Budget (cont) From PASBO

PlanCon J Submission Details From ME H Below, $26,961,723 on J From MWHS H Below, $40,730,356 on J

SB76 / HB76 – Property Tax Elimination Eliminates school property taxes (leaves enough to cover current debt payments until completely paid) PT tax replaced with higher sales (7%, up 1%, and broadened categories) and personal income tax (4.95, up 1.88%) Business property tax now paid by consumers and wage earners District will rely on state for 78%-80% of funding, which the funding will increase by CPI Referendum for tax increases above CPI or school building projects, either EIT or PIT This year debt amounts and PT collection amounts locked in by proposed bill to become future funding

SB76 / HB76 – Property Tax Elimination (cont)

Unknown Impacts At This Point PlanCon Phase II, lump sum of future bond subsidy revenue a. PlanCon advisory committee report due in May Busing adjustments with ride length and possible schedule adjustments a. Transfinder due to release project results in April Federal political environment and grant (Title I,II) revenue a. New Education Secretary confirmed by U.S. Senate School property tax elimination bill a. No official bill yet 2017 Bank Qualified Bond Part II, and any savings in the 2017-18 year a. RFP for Bank Loan, favorable responses EJ Football

Selected Budget Review High School Budget Athletics Budget WSES Budget MS Budget ME Budget

High School Budget

Athletics Budget

WSES Budget

MS Budget

ME Budget

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