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New London OKs school budget

2022-23 property tax rate to drop

By Robert Cloud

The New London School Board approved a $37.47 million budget on Sept. 12.

The 2022-23 budget will be supported by a Fund 10 property tax levy of nearly $7.2 million, a Fund 38 tax levy of $$1.02 million and a Fund 80 levy of $125,000.

Joe Marquardt, director of business services for the school district, told board members that the district’s tax levy is being reduced by 5.7% while the tax rate is projected to drop by 12%.

Marquardt estimated that the district’s tax rate would drop from $6.67 per $1,000 of property valuation to $5.84 per $1.000.

The decreased tax rate is due to the 7.8% increase in property values in the district.

Because of state revenue limits, the increase in property values in the district does not lead to increased revenues.

Marquardt said the district’s revenue limit has been frozen at $10,000 per pupil.

At the same time, the district’s overall spending is increasing by 8.8%.

Marquardt said the increase in total spending is related to the use of fund balance in the long-term capital fund (Fund 46) to pay for work on the intermediate/middle school.

“This is outside the general operational budget and does not impact taxes,” Marquardt said.

Capital fund

Marquardt noted that the capital fund was started as a way to save for capital projects.

Fund 10 is for the district’s general operations. More than 80% of spending flows through this fund.

Fund 38 is for nonreferendum debt within the district’s revenue limits. The district currently has two outstanding Fund 38 debts.

Fund 80 is designated for activities that serve the community.

Items in Fund 80 include the Racing for Education program, the fitness center, after school programs, 4K coordinators, the spring/summer play and police liaison officers.

In addition to the levy, Fund 80 also received revenues from after school fees.

ESSER II funding

Another major source of revenues for the 2022-23 budget is the federal Elementary and Secondary Emergency Relief (ESSER) funds.

New London plans to spend $489,411 in ESSER II funding to cover a school social worker, professional learning communities activities, virtual and digital learning connections and project-based and hands-on learning materials.

An estimated $1.9 million funds remain in ESSER III funding. The district has budgeted $384,000 for piloting unit one of a K-8 literacy program.

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