UPDATED 1-17-2017: I have updated my original post dated December This past Wednesday, the SAU handed to our school board a proposed budget for school year 2017-2018. proposed-budget-12-7-16
The proposed budget is $7.9 Million ($7,908,122). I emailed Kathleen Sargent, SAU finance director and asked what the anticipated amount of State/Federal Adequacy Education funding for 2017-2018 will be. Mrs. Sargent says that currently, the State expects only a slight increase in the State’s Adequacy Education Grant ($31,000 final adjustments in April 2017). sargent-email-2017-18-adequacy-funding
Last year’s property tax rate of $12.89/$1,000 assessed value of your home, on the approved $7.4 Million budget raised $5,089,533 M.(read SAU financial report here)
With State/Federal adequacy income expected to be flat, our property tax rate will increase to $14.02/$1,000 assessed value of your home, in order to raise $5,538,298 M to pay for the proposed $7.9M budget. (adequacy grant formula)
- RSA 198:40-d Consumer Price Index Adjustment. – Beginning July 1, 2017 and every biennium thereafter, the department of education shall adjust the cost of an adequate education under RSA 198:40-a based on the average change in the Consumer Price Index for All Urban Consumers, Northeast Region, using the “services less medical care services” special aggregate index, as published by the Bureau of Labor Statistics, United States Department of Labor. The average change shall be calculated using the 3 calendar years ending 18 months before the beginning of the biennium for which the calculation is to be performed.(read here)
How do you feel about a 9.0% (NINE PERCENT) property tax rate increase just for schools?
Considering the comprehensive report from the Road Management committee regarding the condition of our roads, the mandatory commitment to upgrade of Hall Avenue’s infrastructure (water, waste water and road surface) do to the “cost us nothing” Safe Route to School Grant, how will all of this be paid for?
If my calculations are inaccurate please let me know and I will correct them.