District sets 2022-2023 levy at $5.22 per $1,000 in equalized property value for area

Meeting Monday Oct. 24 in the high school library at Stanley, the Stanley-Boyd Area School Board approved a school tax levy in the amount of $5.22 per $1,000 in equalized property value for the 2022-23 school year, rounded up.

The total school budget for 2022-23 includes $18,385,257 and $20,561,870 in expenditures, due to projects being listed in expenditures but not revenue. Those projects if undertaken will be paid for out

Education and the budget levy of district savings, and include a remodel along with other ongoing plans.

The portion funded by local levy for the present year total $2,671,870, with other sources federal and state also factoring into the final number. The approved district budget includes $110,000 in Fund 80 for the Community Service Fund, and $2,561,870 for Fund 10, otherwise known as the “General Fund.”

As to the budget levy, the lion’s share of equalized property value is shouldered by Stanley with $732,338 in equalized property taxes, followed in decreasing order by Colburn, Edson, Delmar, the Town of Thorp, Boyd, Wilson, Worden, Taft, and Butler, the last coming out with $1,699 as pertains to Stanley-Boyd. That portion of Butler Township within Stanley- Boyd Schools includes a single 40-acre square bordered on the west by Fernwall Avenue and on the north by Popple River Road.

As to particulars for the just approved budget, it calls for a general budget total of $15,515,577, with 2,023,79 in the Spe- cial Projects Fund, zero in Debt Service, $2,150,000 in Capi – tal Projects, $748,487 in the Food Service Fund, $163,567.97 in the Community Service Fund, and zero in the Package and Cooperative Program Fund, for a total district budget of $20,637,411.98.

As for Special Projects, the designation encompass – es both Fund 21 and Fund 27. The majority of revenue and expense spending in this budget comes from Fund 27, with $2,023,279.09 in revenue and expenses.

The rest comes from Fund 21, where student activity accounts reside. The district does not budget for student activity accounts, with a potential of $500 spent on Legacy Trees if any are done this year, per Superintendent Jeff Koenig.

“Fund 21 is where all student activity accounts reside,” he said. “It also contains Legacy Trees and the Oriole Park Fund. We don’t budget for the student activity accounts. We are budgeting for revenue to those two accounts but only $500 for Legacy Trees if we do any this year.”

The total ending fund balance in Special Projects after Fund 21 is taken into account stands at $437,168.35 for the coming fiscal year. This represents a net gain in fund balance of $15,500 for student activity accounts. As to the Food Service Fund (Fund 50), Koenig shared that the program was reimbursed at a higher rate that the district charged for student meals the past two years.

“Fund 50 has a balance because we were reimbursed at a higher rate in the last two years than we normally charge for student meals,” he said. “If Fund 50 is short, money is transferred from Fund 10 to make it balance. It is a one-way street meaning money cannot flow back to Fund 10 from Fund 50. Since we have a balance, it will operate at a loss until the Fund is back in balance.”

The 2022-2023 mill rate for Stanley-Boyd is thew lowest in 20 years. Chart prepared from distirct budget handbook.