1. Budget Presentation 2017-18 Budget Preparation
Midd-West School District
Finance Committee Presentation

2. 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

3. Act 1 2017-18 Timelines 2017-18 adjusted index set at 3.4%
Max millage increase to index is 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, Index resolution adopted
May 31, Deadline to adopt preliminary budget
June 30, Deadline to adopt final budget & homestead/farmstead exclusion

4. From Governor's Executive Budget

5. From Governor's Executive Budget (cont)
From PASBO

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

7. 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

8. SB76 / HB76 – Property Tax Elimination (cont)

9. 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 year
a. RFP for Bank Loan, favorable responses
EJ Football

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

11. High School Budget

12. Athletics Budget

13. WSES Budget

14. MS Budget

15. ME Budget

16. Questions?