Milford School District’s preliminary budget gets a few changes in advance of a final vote next month, including the removal of a proposed technology tax which caused heartburn for some board members.
One thing that has changed since Board of Education members last saw a preliminary budget earlier this month is the rise in property values, according to district Chief Operating Officer Tammy Smith.
“Luckily, the growth that the district has had in property values since then, it's actually higher than what I showed you last month, and that it's higher than last year as well,” she told board members.
Also helping the district’s budgeting are changes to the state’s budget put in by state lawmakers, although those changes still have to pass in the General Assembly and be signed by Governor Meyer.
“All of that has been able to free up funds that we were otherwise giving back either in dollars or positions for the past many years to be used for technology and other needs of the district,” Smith said.
Those factors combined mean that the district was able to do away with a proposed new tax for technology upgrades, allowing the district to participate in a state matching program. Among the four taxes the district collects - current expenses, debt service, tuition, and minor capital - two will change slightly. While the tax for minor capital has grown a little, the district is saving money in debt service, thanks to no new borrowing and paying down its existing loans. The net result, Smith said, is an overall tax rate that remains unchanged from the current year’s.
“Luckily, the math worked out that those, the decrease and the increase, offset each other,” she explained. “And then our current expense, of course, stays the same because that can only be changed in referendum or reassessment. And then tuition rate stays the same.”
The Board of Education will consider a final version of the budget on July 6.
