Financial Statements & Graphic
- Our fund balances remain strong. I project we will have around $3.3 million in reserves at the end of this fiscal year.
- I project we will have around $750,000 of reserves in the Building Fund at the end of this fiscal year.
- Our local levy increases remain low.
- Our school tax rate projects to be at a 4-year low this year and continues to be the lowest around.
- Earnings on investments are at an all-time high.
- Total food service revenue is at an all-time high.
- We have secured $144,400 in building grants from the state over the course of the last few years.
- We have received $575,301 in Knox County penny sales tax revenue since voters approved the tax. This money can only be used for capital improvements.
- In my first year, Building Fund expenditures were at their lowest level since 2010. Only after we had over $1 million surplus in the Building Fund did we decide to begin strategically spending down the balance on much needed building upgrades.
- Technology expenditures since my arrival have risen out of need. That said, 58% of this investment ($66,041) has been made with federal grant money. This strategy was highlighted by the United States Department of Education in their 2016 National Education Technology Plan.
Audited numbers to support the statements above are included in the graphic below. The information contained within the graphic can be found in our annual financial reports located online HERE.
- How does the local levy work? Each December our school district submits a levy request to the County Clerk. The County Assessor submits local property values to the Clerk as well. Those two values combine to determine the local school tax rate. We levy based upon projected expenditures, cash on hand, and stability of other revenue streams (e.g., state funding). Our annual levy goal is to have the lowest tax rate around while maintaining as consistent a rate as possible for our local tax payers. At the end of the day, we are solely responsible for the amount of money we levy and indirectly responsible for the tax rate (the rate is also dependent on property values, homeowner exemptions, etc.).
- How does our school tax rate compare to others in the area? Our rate projects to be $4.22 for the 2015 taxing year. Our's went down, everyone else's went up. See below for previous year's rates from some of our neighbors. (UPDTAED 2/6/16)
- Williamsfield $4.22 (2015)
- ROWVA $4.55 (2014)
- Knoxville $4.56 (2014)
- Galva $4.72 (2014)
- Brimfield $4.73 (2014)
- Farmington $5.13 (2014)
- Elmwood $5.28 (2014)
- Princeville $5.72 (2014)
- What is a STEM Center? A STEM Center is a collaborative lab space with equipment and materials to help students build skills in the areas of Science, Technology, Engineering, and Mathematics (STEM). Our proposed STEM Center will be located adjacent to the MS Science classrooms a short walk from the Chemistry/Physics and Agriculture/Construction classrooms. The Center would contain wet labs, working gas, proper exhaust, proper safety equipment, and engaging tools to help all kids build skill. This space would be accessible to all students in grades PK-12. Elementary STEM (each grade has STEM once/week), 5th-8th grade Science, and HS Science courses will directly utilize the space for courses. Our STEM team will also utilize the space and it will be available for other uses as well.
- Why not just renovate the current Life Science lab and the current Chemistry/Physics lab? Space for space, it would be more expensive than transforming the current district office. The 50+ year old Life Science lab would need a complete overhaul to add an exhaust hood, an eye wash station, and an emergency shower. Both locations would require Chemical resistant lab tops in order to conduct proper experiments. Neither lab would be directly available for PK-5 or Agricultural course use.
- Why move/consolidate offices? Moving the district office allows us to utilize the current district office space for the STEM Center. Moving the main office to the currently under-utilized old locker room space will increase security within our building. Visitors will be viewable prior to entry and be able to check in right as they enter the building. Our current check-in location is in the middle of the building, which for security reasons, is not ideal. Also, with our current set-up visitors to the Principal's Office are frequently exposed to student health and discipline issues. Efficiency in administrative processes and one location for parents/visitors to go for information will also be ideal.
Tim Farquer, Superintendent/Curriculum Director