Anderson School District One Board members approved the budget for the upcoming 2021-22 school year during their meeting Tuesday. There were a few minor changes from the draft budget recently presented.
The budget includes a tax millage increase of 10 mills. Current millage for District One has remained the same for the last three years at 153.4 mills. The budget proposes an increase to 163.4 mills, slightly less than originally proposed in the draft budget. The tax increase will fall primarily on businesses, rental properties and automobiles. Revenue generated from the millage increase will amount to $1,220,700. The average state operating mills for schools is 188.
A mill in Anderson County is currently valued at $242,819. The adjusted valued of a mill increased by about $100 to $122,070.
According to Finance Director Travis Thomas, the budget includes a projected increase in enrollment of 100 students on day 45 which which will result in additional revenue of $203,500 with the current base student cost at $2,500 per student.
Other changes in revenue include an expecting overall decrease of $82,889 in State EFA Support (base student cost) and a decrease of $20,000 in investment revenue due to low interest rates. Positive changes in revenue include: Ad Valorem (property tax) to increase by $2,825,353; Fee in Lieu of Taxes to increase by $350,000; Employer & Retiree (Fringe) contributions to increase by $662,918 and County Equalization to increase by $300,000. Other revenue adjustments will result in an increase of $1,865,569. Total change in revenue over last year is budgeted at $5,060,322
With the millage increase, the projected property/auto tax (Ad Valorem) will bring in total revenue of $19,175,095 (An ad valorem tax is a tax based on the assessed value of an item (millage) such as real estate or personal property. The most common ad valorem taxes are property taxes levied on real estate. The Latin phrase ad valorem means “according to value.” So all ad valorem taxes are based on the assessed value of the item being taxed.)
Other projected total revenues include: Fee in Lieu $2,050,000; Employer and Retiree contributions $15,254,168; Investments $115,000; County Equalization $3,800,000; and other revenue adjustments $17,051,166 and State EFA $27,104,095.
The District is reducing Elementary teachers by 3 and adding one support staff. One new Middle School teacher is being added. One new High School teacher is being added. Special Ed/ESOL will have 8.5 new teachers and 2 support positions. The District also added administrative postion, Director of Instruction.
Overall the District is adding 8.5 new teachers and 3 support positions.
Based on staffing needs, salary increases, retirement and health insurance increases, certification upgrades and other anticipated expenses, expenses are expected to increase by $4,420,000.
Budget expense increases include: Employee Salary increase of $2,850,000; Growth positions $940,000; Retirement (1 percent increase mandated) $475,000; Health Insurance (.8 percent increase mandated) $35,000 and Certification Upgrades (mandated) $120,000.
Total Expenses include: Salaries $49,873,451; Fringe Benefits $23,961,423; Purchases Services $5,849,113; Supplies and materials $3,888,115; Equipment/Capital Purchases $864,154; Transfers and other objects $897,375.
Total expenses are budgeted at $85,333,631.
Total revenues are budgeted at $85,333,631.
The budget was approved unanimously by the Board. No one spoke during the public hearing.