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I-S School Board approves budget

The Iola-Scandinavia School Board proposed a total property tax levy of $4.017 million at a special meeting on Monday, Oct. 28.

This represents an increase of $126,755 or 3.3 percent over the 2012-13 levy. The proposed levy is $48,861 or 1.22 percent less than what was presented at the annual meeting in August.

The school district mill rate for 2013-14 is $10.09, which is 39 cents per $1,000 less than what was presented at the annual meeting.

District property values now total $398 million, according to the Department of Revenue. This is an increase in evaluation of $4.57 million.

The adjustments decrease the projected deficit by $5,045, bringing a total budget deficit of $82,301 for the 2013-14 school year with a projected ending balance of $2.4 million. Overall, the approved 2013-14 budget expenditures reflect a decrease of 0.11 percent when compared to 2012-13 audited figures.

A presentation was made by Scott Gralla, senior financial advisor of PMA Financial Network.

Gralla talked about the importance of five-year budget forecast modeling and the benefits to the district.

“Forecast modeling allows you to prepare for your future,” said Gralla. “It’s data driven and allows you to know things well in advance.”

“It’s a tool that I would definitely use,” said Sarah Theil, district business manager. “It helps you see the big picture of how things will play out down the road.”

“I had talked with Jon Novak about this and he had reached out to Scott,” said District Administrator David Dyb. “Jon thought this was a good idea and had budgeted money for this.”

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