08-12-2002 Council Packet - Laserfiche WebLink

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1. Why (s tiM l«vy r»fT»ndum iMC*ssaryT The Sch(M>l Board is taking steps to balance the budget, which means that $1.1 million ol cost reductions must be made unless other funding is made available. Passage of the levy will bring additional operating funds to the sch(M)l district, reducing the amount of pn>jected budget cuts required in the future. The pn>po.sal asks voters to choo.se between two le\ els of cuts. 1 ) A .succe.ssful levy vole will provide an estimated $8(N).(NX) in additional revenue for 2(KM-2(K)4. The School Board has identified the remaining $.t(Kt.O(K) in cuts that would result in a balanced budget for 2003-2004. These nils will lake plat e even ij ihe vole passes. See Appendix I) for the list of the Stage One cuts totaling $.3(M).(KX). 2) An additional S800.(XX) in budget cuts will be required to balance the budget if the levy fails. The Sch(H)l Board has identified those additional cuts and is now taking steps to communicate the information to the public to help voters make a decision. .See Appendix H for the list of the Stage Two cuts totaling S8(X).000. 2. Wlwr» can I gat mora inffarmatian abaut tha lavy? • Check the District Web site, www.westonka.kt2.mn.us • Call the Levy Hotline at ‘).S2.4m .8443 • E-mail welislen(^wesunika.k12.nin.us • Attend one or more of the Levy Ouestion and Answer sessions: •’Hiesday, August 20.10 a.m.. at the Gillespie Center -'niesday, August 20,7:30 p.ni., at the Early Childhood Center. Hilltop Primary. Shirley Hills Primary. Grandview Middle SchtHil. and Mound Westonka High SchiHil •Monday, August 26,7:30 p.m., in the Little Theater of Mound Westonka High SchiKil (in conjunction with Schmil Board Study Session) •Wednesday, September 4,7:30 p.m., at Hilltop Primary. Shirley Hills Primary. Grandview Middle SchiMil. and Mound Westonka High Schinil i 3. How imich will it coot? The owncrof a home valued at SIDO.IKM) will sec an estimated Sch(M>l District referendum levy tax increa.se of $33 in 2(X)3 ($2.75 per month). Estimated tax impacts for the first and finel years of ’ the levy arc below. i Market CufrentRef.EsL Proposed Esl Proposed vyuB Ta?«2QQ2 Ret. Taxes 2(X)3 $100.(XX)$100 S133 $137 S200.000 200 266 274 S300.(X)0 300 399 411 $500.0(X)500 665 685 (Figures assume 5.5% annual increase in properly values and no net gain in number of students.) See Appeiulix 4 for tleiaih on esihnaletl levy refeienthtnt Ul\ increase payable in 2lK).f See Ap/H’ihlix H for esihnaletl levy referentinni tax ineretises year by yettr over ilie ten-year levy periotl. 4. Why io tho lovy roquoot for ton yoaro? A ten-year levy, the maximum permitted by law. allows school dLstricts to inject some stability into long-term budget planning that is highly dependent on short-term (two-year) state funding cycles. 5. What happons H tho otato providoo incroasos in oducation fundbigT Tlie proposed levy is designed to accommodate state funding increases if and when they are approved by the Legislature. As state funding changes, the state- imposed limit on local levies ("the levy cap") changes, as well. This proptisal allows the local levy cap to adjust (or “float") along with state funding increares. The ScluH>l Board recognizes its duty to use levy authority responsibly. 6. How many iocai lovios and bonds arc in placo now? Whon arc thoy up for il? year 1993 Type 20-year bond for building and technology projects ExiJires 2013 Plans for Renewal no 1995 10<year operating levy 2005 yes 1999 6*year operating levy (brought up to levy cap) 2005 yes 2001 5-year bond 2006 yes for maintenance and technology Questions? Please call 952.491.8443 or e-mail wellsten@we5tonka.k12.mn.u5 3