spring finance workshop opeb special education days & hours and more……

Spring Finance Workshop

OPEBSpecial EducationDays & Hoursand more.

OPEB State Categorical AidBeginning with the 2007-08 school year, contributions to a trust must meet certain criteria to be eligible for state categorical aid administered by DPI

(state special education aid, high cost aid, state tuition aid, etc..)

OPEB State Categorical AidBeginning with the fiscal year that the trust is funded, the following criteria must be met.

Year 1 The contribution may be less than or equal to the ARC.

DPI will not enforce any fund 73 balance requirements in order for districts to get used to the process for operating a trust .

OPEB State Categorical AidYear 2 and each fiscal year thereafter The contribution must meet at least one of the following 3 criteria.

The contribution must equal the ARC amount.OR

The contribution must exceed current year expenditures paid from the trust by 5%.OR

The contribution combined with the previous 2 year contributions must exceed current year expenditures combined with the previous 2 year expenditures paid from the trust by 15%.

OPEB State Categorical AidWe have created a spreadsheet that districts can use to determine whether or not their trust contributions are eligible for state categorical aid administered by DPI.

http://www.dpi.wi.gov/sfs/xls/TestOfCategoricalContribution.xls

OPEB State Categorical AidWe encourage districts to review this calculation prior to June 30th, and to be conservative when estimating expenditures.

Contributions may be made anytime during the fiscal year, but MUST be physically made before or on June 30th.

OPEB - GeneralJust a reminder that expenditures for current retiree benefits may not be drawn from the trust prior to the trust being established.

Example:Trust established on June 1st.Contribution to trust made on June 15th.Payment for current retiree benefits from the trust must be for the month of June only.

OPEB - ResourcesInformation related to all aspects of OPEB can be found on the School Financial Services website in the link titled Benefit Trust Fund or directly at:

http://www.dpi.wi.gov/sfs/emp_benefit_trust_fund.html

SPECIAL EDUCATION

Special Education Account Coding Although all elements of an account code are important, the project code is critical in coding special ed expenses. The project code communicates:

the source of the funding (local, state, or federal dollars).

aid status and payee if local dollars are used.

the grant holder if grant funds are used.

Special Education Expense Coding* package programs **only certain expenses. See Special Ed link on website.

General Ledger Account CodingDetailed Project Numbers:

011: Expense is locally funded and eligible for state special education categorical aid

019: Expense is locally funded and not eligible for state special education categorical aid.

340 (341, 347, etc): Expense is funded with the districts IDEA grants (The district files the claim directly with DPI and receives payments directly from DPI.)


315 (state)/317 (federal): Expense is funded by either a state or federal grant that is administered by another school district.

The other district files the claim with DPI, receives the payment from DPI, and transits the grant money to your district.


515 (state)/517 (federal): Expense is funded by either a state or federal grant that is administered by CESA/CCDEB.

CESA/CCDEB files the claim with DPI, receives the payment from DPI, and transits the grant money to your district.


599: Expense is funded with a district grant other than an IDEA grant.

The district files the claim directly with DPI and receives payments directly from DPI.

An example of a grant reported in project code 599 would be an AODA grant or a Drug Free Schools Grant.


091 (CESA)/092 (CCDEB): Expense is funded with local money from a CESA or CCDEB.

This type of arrangement is considered a package program, and the district is is considered a host district. The districts expenses are funded in full.

Relatively few package programs exist in the State.

Special Education Account CodingA fund 27 matrix is available to assist districts with account coding.

http://dpi.wi.gov/sfs/xls/fund_27_matrix.xls

State Spec Ed Aid EligibilityEligible Expenses

Salary & Fringe Benefits for:

most special education teachers & assistants;

speech/physical/occupational therapists;

psychologists, social workers, nurses, guidance counselors

special education administrative staff

special transportation

State Spec Ed Aid EligibilityAppropriate Licensure

The staff member must hold the appropriate licensure for the function he/she is being charged to.

http://dpi.wi.gov/sfs/doc/valid_code_se.doc

State Spec Ed Aid EligibilityEntities complete the PI 1202 fall staffing report identifying the staff member, FTE, and assignment (including function). This report is static and does not get updated during the year.

Teacher licensing compares the staff assignment from the PI 1202 report against the staff members license.

State Spec Ed Aid EligibilityAuditors are required to identify the amount of salary and benefits paid for each staff member listed on the no valid license list.

The identified salary and benefit amounts are withheld in the categorical aid calculation.

Aid is withheld until the DPI special education licensing team approves the individuals license status.

State Spec Ed Aid EligibilityAppropriate Allocation

Salaries and benefits of these professionals must be allocated between regular education (fund 10) and special education (fund 27) based on time and costs.

psychologistssocial workersnurses (registered nurses, licensed by WI Dept of Regulation and Licensing)guidance counselorshttp://www.dpi.wi.gov/sfs/ltrjan12_06.html

State Spec Ed Aid EligibilityAuditors will verify that staff time/costs have been:

done on an annual basis for each individual staff member claimed;

documented for review by the entitys auditor and potentially DPI;

based on a method that is both rational and defensible.

State Spec Ed Aid Eligibility

Auditors are required to identify the amount of salary and benefits paid for each staff member that has been inappropriately allocated.

The identified salary and benefit amounts are withheld in the categorical aid calculation.

Aid is withheld until the DPI pupil services team approves the individuals license status.

State Spec Ed Aid EligibilitySTAY TUNED!!!

A pending law will alter the process you use to allocate guidance, nurse, psychologist, and social work positions to fund 27.

We will provide you detailed information as soon as we have it!


Purchased Services (Directly Aidable)

Occupational/Physical Therapywhen paying an individual or entity that is not eligible for state categorical aid

Homebound Travel

Special Transportation

Out of State Tuition (special approval required)


Supplies

Only supplies for the special transportation vehicle


Equipment

Only equipment for the special transportation vehicle

Special permission is required to purchase a bus and apply for state special education aid.


Insurance

Property insurance for the special transportation vehicle

Unemployment insurance for the cost of unemployment checks issued to former special education staff within one year IMMEDIATELY following termination


Dues & Fees

Special Transportation - specifically any entry fees to activities for special education students on field trips

http://dpi.wi.gov/sfs/doc/se_claim_directions.doc

Special Education ReportDistricts are required to complete 2 annual reports with fund 27 information.

SAFR Annual report Summarized fund 27

Special Education Annual Report Detailed fund 27 (project numbers)

THESE 2 REPORTS SHOULD MATCH!!!

Special Education ReportInput Spec Ed Expenses

Only those functions with the potential for aidable costs are entered in detail.

If you have an expense that does not have a detail line, and the function begins with a 1, then report the expenses in function 199999.

If you have an expense that does not have a detail line, and the function begins with a 2, then report the expenses in function 299999.

Special Education ReportInput Spec Ed Expenses

Although nurse and guidance salary/benefit expenses have the potential to be aidable, there is no detail line on the report for data entry.

If you have aidable guidance and nurse expenses coded to project code 011 on your ledger, please enter these expenses in function 299999, project 019.

Special Education ReportInput selected revenue accounts

Enter revenue for source 346 and 347

These two revenue accounts are the only ones requested because they are used in the maintenance of effort calculation.

Special Education ReportIdentify entities to whom youve made grant payments

Not only do you need to report the payment in the correct account number, you also need to identify who you paid and how much.

If you paid another entity using grant money, you need to answer yes to this question!

If you paid another entity using grant funds, then you need to identify the entity and how much you paid them.

Special Education ReportIdentify any Deductible Receipts

A deductible receipt is created when an entity incurs an aidable expense (coded to project 011) that is ultimately reimbursed by another entity with grant funds.

Since DPI calculates aid based on expenses coded to project code 011, you need to tell me if some of those expenses have already been reimbursed by grant money.

If someone paid you for an expense that you coded to project code 011, then you must answer yes to this question.

Identify the deductible receipt amount in the function the project code 011 expense was initially charged.

Identify the entity that paid you using grant funds as well as record the amount of their payment that was for an expense coded to project 011. The dollar amount on this screen should match the amount in the 27D function lines.

Special Education ReportJust a reminder that the flat rate amount of an open enrollment tuition is not considered a deductible receipt. Any additional student specific open enrollment tuition may be a deductible receipt if the original expense was coded to project 011.

Special Education ReportReport submittal involves sending an email to the department with a text file attached.

If you need to report project code 011 guidance and nurse expenses, then additional information must be included in the body of the email. (wording is available on the web)

http://www.dpi.wi.gov/sfs/se_report.html

Aid Calculation & PaymentsNormal aid calculation involves:

Aid Calculation/PaymentsBecause payments start before data auditing is finished, aid eligibility and therefore aid payment amounts may constantly change.

Districts can see aid payments, aid computations, and aid adjustments at the following link.

http://www.dpi.wi.gov/sfs/sped_worksheets.html

Whats New on the Horizon?

JASPER!!!!!!(Jewel for Special Education Reporting)We are planning to roll out a new on-line special education report beginning with the 2008-09 budget!!!!!!!!!!!

It will be what we consider Phase 1 of the entire special education redesign process.

DAYS & HOURS OF INSTRUCTION

Days of InstructionDistricts must schedule at least 180 days of instruction.

A school day that contains fewer instructional hours than a full schedule is considered a school day; however, only the hours of instruction provided may be counted towards meeting the hours requirement.

Days of InstructionOf the 180 days, 5 of these days may be used for parent-teacher conferences or for inclement weather.

Districts cannot count as 2 days toward the 180 day requirement a situation in which students attend school during the day with parent/teacher conferences in the evening. A 24 hour time period can only be counted once.

Days of Instruction ExampleThe District schedules 178 days of actual instruction and 2 days of parent teacher conferences in lieu of 2 days of actual instruction.

Does this meet the 180 day requirement? What happens if the district has 4 inclement weather days?The district will need to make up at least one day.Yes

Days of Instruction ExampleThe District schedules 179 days of actual instruction and 2 nights of parent teacher conferences after the school day ends.

Does this meet the 180 day requirement?No. A day may only be counted once. The evening parent conferences are not counted towards meeting the 180 day requirement. They may however, be counted as a day for your local teacher contract purposes.

Hours of InstructionThe district must schedule the following hours of instruction.

437 hours for kindergarten

437 hours + 87.5 hours of outreach if intending to claim .6 FTE for membership purposes

1,050 hours for grades 1 6

1,137 hours for grades 7 - 12

Days/Hours of InstructionDays of instruction and hours of instruction are two separate standards that districts must meet.

A district might meet the days of instruction standard, yet be short in meeting the hours of instruction standard.

Many districts schedule the total required number of hours within 175 days of instruction.

SUMMER SCHOOL

Summer SchoolIssues to think about when planning for summer school.

Schedule classes with academic purpose.

Asses appropriate fees.

Verify summer school minute computations are correct.

http://www.dpi.wi.gov/sfs/summ_sch.html

Summer SchoolAuditors review summer school computations and fees if the district has a membership audit.

Summer School findings are sent to DPI.

DPI reviews both the class offerings as well as the associated fees.

If findings can not be explained or resolved, the district may lose FTE for both revenue limit and equalization aid purposes.

WUFAR CHANGES

WUFAR Account ChangesRequired Object Codes

211 Retirement Employees Share212 Retirement Employers Share218 Contribution to EEee Benefit Trust219 Other Employee Benefits

Required Source Codes

951 District contribution to Trust952 Plan member contribution to Trust

WUFAR Account ChangesNew Source Code

692 Aid for High Poverty School Districts (reported in source 619 in the budget report)

Expanded Source Definition

699 Other State Revenue to include Project Lead the Way grants

Full list of changes at: http://www.dpi.wi.gov/sfs/wufar.html

Medicaid Auditing

Medicaid AuditingAs directed by DHFS, Medicaid receipts will be audited for the first time beginning in 2007-08 if:

the District already has a federal single audit;

the District receives over $100,000 in Medicaid receipts.

Districts will need to have completed their PI 1505 Special Education Annual Report for auditor fieldwork.

Medicaid AuditingAfter the initial audit, the Medicaid audit will take place every 3 years, assuming receipts remain over $100,000.

Specific object codes are available via WUFAR to assist in accounting for Medicaid expenses. (See WUFAR Revision #9)

http://www.dpi.wi.gov/sfs/wufar.html

Spring Finance Workshop

Revenue LimitsEqualization AidMembershipand more.

Revenue LimitsAdvanced Concepts&Potential Pitfalls

..how can there be self-help groups?

Revenue LimitsSection 1: Successfully Getting from One Year to the Next

Section 2: Unintended Consequenceof the Line 7 Hold HarmlessCalculation

Section 3: Using Line 7 in 5-Year Projections

Section 4: Equalized Tax Rates, Assessed Tax Rates, and Assessment Ratios

Section 5: Whats (New) On The Net?

Revenue LimitsSection 1: Successfully Getting from One Year to the Nexthow these all work togetherRecurring ExemptionsNon-Recurring ExemptionsNew-Year BaseCarryoverUnderlevy

Revenue LimitsRecurring Exemptions (Lines 8A-E) are base-building that is, if the district taxes for any of this additional authority, the levy amount is automatically included in the succeeding years base. Any unused Recurring authority is eligiblefor 100% carryover into the next year.

Non-Recurring Exemptions (Lines 10A-C) are not base-building that is, if a district taxes for any of these exemptions, the amount is not included in the succeeding years base.Any unused Non-Recurring authority is not eligible for carryover in the next year districts have one, and only one opportunity to use Non-Recurring exemptions.

Revenue LimitsRecurring Exemptions

Prior-Year CarryoverTransfer of ServiceTransfer of TerritoryFederal Impact Aid LossRecurring Referenda to Exceed (if year 1 of authority)

Non-Recurring Exemptions

Non-Recurring Referenda to ExceedDeclining EnrollmentOther

Revenue LimitsDPI is specifically directed to ensure non-recurring exemption authority is not included in the subsequent years base:121.91(4)(f)2 states: Any additional revenue received by a school district as a result of subds. 1. and 1m. shall not be included in the base for determining the school districts limit under sub. (2m)(e) for the following school year.

1. is the 100% declining enrollment exemption for all districts.1m. is the 100% declining enrollment exemption for both Shawano and Gresham.Declining Enrollment Authority:

Revenue Limits121.91(7) states: If an excess revenue is approved under sub. (3) for a nonrecurring purpose, the excess revenue shall not be included in the base for determining the limit for the next school year for purposes of this section.Non-Recurring Referendum:121.91(8) states: Any additional revenue received by a school district as a result of this subsection shall not be included in the base for determining the school districts limit under sub. (2m) for the following school year.Line 7 Hold Harmless:

Revenue LimitsLine 7 Hold Harmless DefinedLine 7 = Line 5 multiplied by Line 6.But, wait, $8,700 x 759 = $6,603,300 - NOT $6,627,600!

A new provision in the 07-09 Biennial budget allows districts to use Line 1 if Line 5 multiplied by Line 6 is less than the Line 1 amount. The extra amount of $24,300 is known as theLine 7 Hold Harmless exemption.Its a non-recurring exemption!

Revenue LimitsSo, how does this really work when districts can have any combination of recurring and non-recurring exemptions, Line 7 hold harmless, plus an underlevy?

Whats in the base in the next year?

Whats the carryover?

The answers might change the fiscal decisions you make!.lets look at a number of examples.

Base$10,000,000$10,000,000Inflationary IncreaseTransfer of ServiceRecurring ReferendumPrior Year Aid plusLevies

(no backouts)#1 - Recurring Exemptions, Levied to Max2007-082008-09

Aid+Levy

Base

This district used all of its authority and has no carryover authority in 08-09, Line 8A.

Base$10,000,000$800,000Inflationary IncreaseTransfer of ServiceRecurring ReferendumPrior Year Aid plusLevies

(no backouts)#2 - Recurring Exemptions, Under-levy2007-082008-09

Aid+Levy

Base

This district will have $200,000 of carryover authority in 2008-09 in Line 8A.Underlevied by $200,000

BaseInflationary IncreaseDecl Enroll - $150,000Prior Year Aid plusLeviesminus$150,000#3 - Non-Recurring Exemptions, Levied to Max2007-082008-09

Aid+Levy

Base

This district will have no carryover authority in 2008-09 in Line 8A.

BaseInflationary IncreaseLine 7 - $46,000Prior Year Aid plusLeviesminus$46,000#4 - Line 7 Hold Harmless (non-recurring), Levied to Max2007-082008-09

Aid+Levy

Base

This district will have no carryover authority in 2008-09 in Line 8A.

BaseInflationary IncreaseLow Revenue IncreaseLine 7 - $46,000Prior Year Aid plusLeviesminus$36,000#5 - Line 7 Hold Harmless (non-recurring), Recurring, Under-levy2007-082008-09

Aid+Levy

Base

This district will have no carryover authority in 2008-09 in Line 8A.Underlevied by $10,000Transfer of Service

BaseInflationary IncreaseTransfer of ServiceLine 7 - $46,000Prior Year Aid plusLevies

(no backout)#6 - Line 7 Hold Harmless (non-recurring), Recurring, Under-levy2007-082008-09

Aid+Levy

Base

This district will have $10,000 in carryover authority in 2008-09 in Line 8A.Underlevied by $56,000

BaseInflationary IncreaseLine 7 - $40,722Rec Ref - $252,707Prior Year Aid +Levies#7 - Line 7 Hold Harmless (non-recurring), Recurring, Non-Recurring & Under-levy2007-082008-09

Aid+Levy

Base

Plus, this district will have $43,955 of carryover authority in 2008-09 in Line 8A.Decl Enroll - $168,030Underlevied by $252,707$43,955

Revenue Limits (repeated slide)Recurring Exemptions (Lines 8A-E) are base-building that is, if the district taxes for any of this additional authority, the levy amount is automatically included in the succeeding years base. Any unused Recurring authority is eligiblefor 100% carryover into the next year.

Non-Recurring Exemptions (Lines 10A-C) are not base-building that is, if a district taxes for any of these exemptions, the amount is not included in the succeeding years base.Any unused Non-Recurring authority is not eligible for carryover in the next year districts have one, and only one opportunity to use Non-Recurring exemptions.

Revenue LimitsSection 2: Unintended Consequenceof the Line 7 Hold HarmlessCalculation

Revenue LimitsPrior to the implementation of the newLine 7 Hold Harmless provision in 07-08, if a district was in declining enrollment, and a membership revision AFTER setting the levy increased a districts Current 3-Year Average:

- Line 7 would increase accordingly. - The declining enrollment exemption would decrease.- Because of the 75% declining enrollment exemption, the district may end up underlevying as a result. (and have no carryover from the declining enrollment exemption)

Revenue Limits (06-07 and previous)Line 1Line 6

Line 7

Line 10B

Line 11$4,961,897

499 (512,502,483)

$4,964,122

$99,481

$5,143,401Increase in MembershipLine 1Line 6

Line 7

Line 10B

Line 11$4,961,897

499 (512,502,485)

$4,974,070

$99,481

$5,143,401Decrease in Membership485500$4,974,070$89,533SAME498481$4,954,174$109,430$5,143,402

Revenue Limits (beginning with 07-08)Line 1Line 6

Line 7

Line 10B

Line 11$5,043,920

483 (502,483,465)

$5,043,920

$165,955

$5,208,467Increase in MembershipLine 1Line 6

Line 7

Line 10B

Line 11$5,043,920

483 (502,483,465)

$5,043,920

$165,955

$5,208,467Decrease in Membership466484$155,583482462$176,327$5,218,839$5,198,095

Revenue LimitsSection 3: Using Line 7 in 5-Year Projections

Revenue Limits

Revenue LimitsSection 4:Equalized Tax Rates,Assessed Tax Rates, and Assessment Ratios

Revenue LimitsTaxpayer (angrily): My property assessment did not change from last year, and I remember you telling us that the schools levy rate decreased. How could my taxes have gone up?Hint: The answer is NOT that that the other taxing units increased their levies.

(It could be, but in this case, its not.)

Revenue Limits2006 Taxes2007 Taxes

Revenue LimitsSection 5: Whats (New) On The Net?SFS Homepage > District Budget Dev & Planning > Revenue Limit > 7-Year Revenue Limit Surveyhttp://dpi.wi.gov/sfs/index.htmlSFS Homepage > District Budget Dev & Planning > Revenue Limit > 07-08 Revenue Limit Authority Sources

Equalization AidAdvanced Concepts&Potential Pitfalls

Equalization Aid

Marginal Cost Sharing at 3rd Tiervs. Overall Cost Sharing

07-08 Oct 15

2007-2008 CERTIFICATION (October 15, 2007)

SIMPLIFIED PERCENTAGE METHOD OF CALCULATING EQUALIZATION AID

Guarantees Using 2006-07 1506AC

UHS / K8, enter 2 or 3

1=K-12; 2=UHS; 3=K-81

Local Factors:State Factors:

A7: 06-07 Aid Membership938Primary cost ceiling:$1,000

E5: 06-07 Total Shared Cost$8,913,578Secondary cost ceiling:$8,522

F1: 2006 TIF-Out School Aid +Comp Value (5/07 Cert)$406,787,712Primary guarantee:$1,930,000

Shared Cost per Pupil$9,503Secondary guarantee:$1,330,187

Equalized Value Per Pupil$433,676Tertiary guarantee:$528,306

Primary LevelSecondary LevelTertiary Level

District Shared Cost per Pupil$1,000$7,522$981

District Value Per Pupil$433,676$433,676$433,676

Guaranteed Value Per Pupil$1,930,000$1,330,187$528,306

Percent Local Share*22.47%32.60%82.09%

Local Share Per Pupil**$224.70$2,452.37$805.08

State Share Per Pupil$775.30$5,069.63$175.67

Percent State Share77.53%67.40%17.91%

Total Equal Aid (G5,G10,G15)$727,228.91$4,755,311.97$164,779.27

H1: Calculated Aid (not < 0)$5,647,320Aid as a % of Cost:63.4%

Guarantees

This sheet is protected. Unprotecting and changing these guarantees will compromise the validity of your aid estimate.

Estimated K-12 GuaranteesDistrict Type Multiplier

19300001

13301871

5283061

Equalization Aid vs. Levy CreditTax-relief programs can either:

- provide relief by focusing on holding down levies (relief is pre-levy). (Equalization Aid)

- provide relief directly to taxpayers by reducing the amount owed on their property tax bills (relief is post-levy or below-the line). (Levy Credit)

Equalization Aid vs. Levy Credit

Equalization Aid vs. Levy CreditEither way, its State money that alleviates the taxpayers bottom line tax burden.

.but, the distribution methodology between the 2 is different, so a taxpayer in any single district can experience a different effect, depending on the path the State uses to distribute the money.

Equalization Aid vs. Levy CreditEqualization Aid is distributed to districts in inverse proportion to the districts value per member.***The poorer the district,the greater the amount of Equalization Aid received;and the richer the district,the lesser amountof Equalization Aid received.

Equalization Aid vs. Levy CreditSchool Levy Tax Credit is allocated to municipalities based on their proportionate share of statewide school levies during the previous 3 years.***So, the larger the levy, the greater the amount of School Levy Tax Credit received;and the smaller the levy, the lesser amount of School Levy Tax Credit received.

Membership & Other TopicsAdvanced Concepts&Potential Pitfalls

MembershipPresent: The pupil is in attendance for instruction on the count date.

Absent: The pupil is absent for instruction on the count date. If any pupils are absent on the count date, they can still be counted if they have attended at least one day during the school year prior to the count date, at least one day during the school year after the count date, and have remained a resident of the district during the period of absence. Students reported in the "absent" column must have returned to school in order to be included in the PI 1563 Pupil Count Report. If the student returns after the initial submission of the report, the report should be amended to include the student in the pupil count.

Membership

X .5 = 2.5X .6 = 19.80X .5 = .5

X 1 = 37

X 1 = 561

= 3=20

=37.5=38

= 561

TOTAL = 622Remember to convert to FTE !!!!!!!

MembershipThe dreaded editWhat Does This Really Mean?Review Your Answers > Summary of 4 YK

STEP 1STEP 2STEP 3STEP 4(in seats)(subtract non-residents)(subtractineligible residents)(addresidents)

Open Enrollment VerificationIn mid-March, open enrollment verification lists were sent to all districts. (..lists of kids names and whether they are an open enrolled in/out of your district)

Your final aid payments for 07-08 will be monetarily adjusted based on the open enrollment child numbers.Carefully review all names, determining each childs status i.e. are they still enrolled/attending where the list indicates?....did they move? When? Where? Communicate with surrounding districts to determineeach childs status.

Tax Incremental FinancingEach spring, municipalities consider adding a TIF district, and districts ask about the effect of a TIF district on state aid.

The answer is not much, if any, until the TIF district is ended.

The aid calculation uses the TIF-Out equalized value of a district to determine its aid eligibility. The value of the TIF district (for aid purposes) remains the same as the day the TIF was created.

Because the increasing value of the TIF district is not included in the equalized value, school district aid is not affected by the increasing value of the TIF district.Tax Incremental Financing

Tax Incremental FinancingWhen the TIF district dissolves after 20+ years, the districts equalized value reflects the increased value of the TIF district, and its aid is then affected. Many times, the TIF district will generate more money than is necessary to pay off the initial loan.

That money is then distributed to the underlying taxing districts in the form of a TIF closeout, is outside the revenue limits and is treated similar to a tax levy in the aid formula.

Questions? Visit our web site:

http://dpi.wi.gov/sfs/index.html

Or call:Brad Adams, Consultant, 267-3752Lori Ames, Consultant, 266-3464Karen Kucharz, Consultant, 267-9707Jerry Landmark, Assistant Dir., 267-9209Gene Fornecker, Auditor, 267-7882Natalie Rew, Auditor, 267-9212 Kathryn Guralski, Auditor, 266-3862David Carlson, Director, 266-6968

We are in the design process and are including other entities such as school districts and CESAs in our discussions.In its equalization process, the DOR looks at recent sales prices (every year) to determine actual market value of property. If the assessed value of a property which sold for $150,000 was $140,000, the assessment ratio is said to be 93% (140,000/150,000). Revenue does this for all sales in the district to determine a new municipal-wide assessment ratio each year. Its pretty unlikely that a municipalitys assessment ratio would remain the same from year to year because different properties are selling in different economic climates from year to year.

This assessment ratio went from 1.0221 (indicating the total fair market value came in less than assessed for that year) to .987257273 (indicating the total fair market value came in more than assessed for that year).

So, it certainly be the case that a lower equalized rate applied to a constant assessed value can create a property tax increase, but its got to do with the assessment ratio.

It is also common that although the equalized values are re-evaluated each year, the assessed value can go unchanged for a few years, in which case the assessment ratio would continue to drop as the market value increases.Present: The pupil is in attendance for instruction on the count date.Absent: The pupil is absent for instruction on the count date. If any pupils are absent on the count date, they can still be counted if they have attended at least one day during the school year prior to the count date, at least one day during the school year after the count date, and have remained a resident of the district during the period of absence. Students reported in the "absent" column must have returned to school in order to be included in the PI 1563 Pupil Count Report. If the student returns after the initial submission of the report, the report should be amended to include the student in the pupil count.Perform a physical head count as of the count date. Identify all students receiving services, regardless of residency and state aid eligibility, by those who are present and those who are absent, but considered enrolled, on the count date. If any pupils are absent but considered enrolled on the count date, they can still be counted if they have been present for instruction at least one day during the school year prior to the count date, at least one day during the school year after the count date, and have remained a resident during the time of absence. Students reported in the "absent" column must have returned to school in order to be included in the PI 1563 Pupil Count Report. If the student returns after the initial submission of the report, the report should be amended to include the student in the pupil count.

spring finance workshop opeb special education days & hours and more……

Documents

trust contributions

opeb state categorical

opeb state categorical

year contributions

state tuition aid

current year expenditures

school year

fiscal year