001Hello everyone. My name is Matt Clark. I serve as the director of business and finance for the Sun Prairie Area School District. I'm here talking about the um 2526 tax levy that is up for um the board's vote and hopefully approval um again for the 2526 fiscal year. So um part one of this budget process that we're finalizing now is um approving the 2526 budget. So um once we've done that then we move on to the approval of the 2526 tax levy. So um attachment one in this situation report is um the same attachment um the 6590 budget format that was um in the last agenda item that I attached um going through all the budgeted numbers by fund and by function. Um, and with that then comes the tax levy that we're proposing um
002for approval at 93,96,896. Again, this um number is increased by about $860,000 um since the annual meeting um due to new information as the budget was being finalized for approval um in large part due to the decrease um in expected equalized aid. um from the July 1 aid estimate to the October 15th certification. So that decrease in aid um again is due to um a number of things um in large part to the state budget decision not to increase any funding to the state aid bucket as well as some late financial statements that were submitted um by other districts to the DPI which then um go into that aid estimate and and kind of throws everyone else off. So, um, attachment one, again, you've seen before. Um, attachment two, um, is a really good look
003at our five-year history, um, with state aid. So, um, the state aid formula has a lot of different components to it. Um, and as you can see, we have seen relatively large increases from the 2122 fiscal year um, up until until now. So we're seeing a smaller increase from 2425 to 2526. But from 2324 to 2425, we saw a relatively large increase due to um increased enrollment as well as increased spending or shared costs um due to our referendum planning. So that's a really good visual. um as well as attachment three, which is a list of all of our municipalities that the Sun Prairie Area School District um taxes. So, um this is a really good look at the um changes in each municipality in terms of equalized value. Again, that grand total amount of
0049 bill198 um was the number that was shown on that revenue limit worksheet from my prior um screen recording. Again, the total equalized value change from last year to this year um was an increase of 7.88%. Um but this visual gives you um an individualized look at each municipality within our school district. Um and then attachment four again is that same look at the um equalized values for each municipality and then it gives you a look at the percentage of that municipality that makes up our school district. So predominantly the city of Sun Prairie and the city of Madison make up most of our district and most of our taxing authority. But as you can see um this visual also shows you kind of how the other municipalities um shake out in terms of the
005percent of our district. This visual also will give you a look at our levy that will be spread across these municipalities and the mill rate which will help um the individual taxpayers determine um their school-based tax payment. Um, we have some some helpful links too in terms of navigating your property taxes. Um, it's a pretty complex um, tax as far as school tax and how it shows up on everyone's tax bill um, each year. So, some helpful links there. Um, and then when we look at dividing the tax levy by that equalized value, this then produces our mill rate. And our mill rate that is um shown in our um financials and some of these final documents and presentations will be $1021. And attachment five um gives you a look at our 10-year mill rate
006history, which can be really helpful. Um, sometimes you can look at a a growth from a smaller period of time, one or two years, and you think you kind of have the whole story, but looking 10 years at kind of where our mill rates been and and where it is now um is helpful context for everybody. Then down here, I've listed the um separate levies um from last fiscal year to now this fiscal year 2526. the difference in those levies, not only in terms of a dollar amount, but a percent. Um, that can show you that, um, you know, our our total levy is going to be increasing by a little over 8%, 8.45% to be exact. Um, our equalized values increasing by that 7.88%. And then our mill rate um, increasing um, slightly by
0075 cents. Um, and just another thing I want to note, I know I brought it up in my last video. Um, the mill rate that we had communicated to our public during the referendum planning was $10.74. Um, now we're able to present a a final mill rate um of $1021 for the 2526 fiscal year. Um, which is great. So, um, if you have any questions about any of this information, again, please feel free to reach out. Um, I invite you to look at all these attachments. Um, some really good information there. Um, but feel free to give me a call or shoot me an email um, if I can help answer um, any questions um, from you. So, thank you and have a good night.