Truth in Taxation MeetingDecember 10th, 2018

Hermantown Community Schools

• Property owners pay taxes for 3 units of government.

• The County, City and School District each have a section on your property tax statement.

• This meeting is for the School District portion of your tax statement only.

Which Property Owners Pay Taxes to School Districts?

There are 2 general categories that determine how the county auditor calculates the School

District taxes owed by each parcel of property.

Net tax Capacity (NTC)

Referendum Market Value (RMV)

Hermantown Community Schools

• NTC includes all parcels of property in the school district. Formulas take into consideration the classification of property (class rate), such as Homestead,Commercial / Industrial, Agricultural, Seasonal Recreational, etc, along with Taxable Market value to come up with an NTC value.

Hermantown Community Schools

• Referendum Market Value has certain properties that are excluded from paying school based levies.

• Some exclusions include:

• The remainder of agricultural property after the house, garage and 1 acre.

• Non-homestead agricultural Land

• Managed forest land

• Noncommercial seasonal recreational

Levy Information• 2018 Payable 2019

-Levied in 2018, Paid in 2019• Process

-September 2018, Board sets Proposed Levy

-November 2018, County mailed“Proposed Property Tax Statements” to property tax owners

-December 2018, Board approves Certified Levy

-District recognizes revenue for the 19-20 fiscal year

Hermantown#0700

Levy Summary by Fund18 Pay 19 18 Pay 19

Fund Amount on Statements With Under Levy

General 3,155,367.19$ 3,140,554.69$ 14,812.50$

Cummunity Service 176,792.33$ 176,792.33$ -$

Debt Service 3,384,720.33$ 3,384,720.33$ -$

Total Levy 6,716,879.85$ 6,702,067.35$ 14,812.50$

Proposed under levy for the adjustment to the Lease Levy. New Certificate of ParticitationDebt Schedule is lower due to favorable interest rates at sale of certificates.

Hermantown #0700

Levy Comparison by Levy CategoryPayable 2018 Final – Payable 2019 proposed

General - RMVVoter

General - RMVOther General NTC Voter

General NTCOther

CommunityService Debt Serv. Voter Debt Serv. Other OPEB Bonding Total Levy

Pay18 Levy $- $1,839,821.76 $- $877,117.07 $172,720.39 $3,394,048.40 $- $- $6,283,707.62Pay19 Levy $- $1,863,230.73 $- $1,277,323.96 $176,792.33 $3,384,720.33 $- $- $6,702,067.35 Change Pay18 to Pay19 $- $23,408.97 $- $400,206.89 $4,071.94 $(9,328.07) $- $- $418,359.73Percent Change 0.00% 1.27% 0.00% 45.63% 2.36% -0.27% 0.00% 0.00% 6.66%

$-

$1,000,000

$2,000,000

$3,000,000

$4,000,000

$5,000,000

$6,000,000

$7,000,000

$8,000,000

Levy Categories Pay 2018 Pay 2019 $ Inc (Dec)

General FundOperating Referendum 500,756.57$ 506,861.99$ 6,105.42$ Equity 371,787.64$ 389,110.84$ 17,323.20$ Local Optional 967,277.55$ 967,257.90$ (19.65)$ Operating Capital 139,664.07$ 168,463.35$ 28,799.28$ Reemployment 15,574.16$ 32,354.29$ 16,780.13$ Safe Schools 88,034.04$ 82,146.60$ (5,887.44)$ Ice Arena Levy 41,563.00$ 42,810.00$ 1,247.00$ Career & Technical Levy 23,191.95$ 24,185.27$ 993.32$ OPEB Pay As You Go Levy 177,014.00$ 140,330.00$ (36,684.00)$ Health & Safety Adjustments (127.69)$ -$ 127.69$ Deferred Maintenance Adjustments 11,199.36$ -$ (11,199.36)$ LTFM 370,226.33$ 477,055.60$ 106,829.27$ Building/Land Lease Levy 12,640.28$ 327,736.49$ 315,096.21$ Tree Growth 639.17$ 639.17$ -$ NTC Capital Adjustments (21,088.02)$ (14,758.09)$ 6,329.93$ NTC Adjustments & General Abatements 18,586.42$ (3,638.72)$ (22,225.14)$

General Fund Total 2,716,938.83$ 3,140,554.69$ 423,615.86$

Community Service FundBasic Community Education 92,344.80$ 93,009.25$ 664.45$ Early Childhood Family Education (ECFE) 50,674.86$ 53,721.46$ 3,046.60$ Home Visiting 831.83$ 1,010.05$ 178.22$ School Age Care 26,726.97$ 29,526.73$ 2,799.76$ Abatement Adjustments 2,141.93$ (475.16)$ (2,617.09)$

Community Service Total 172,720.39$ 176,792.33$ 4,071.94$

Debt Service FundVoter Approved Debt Service 3,350,984.00$ 3,383,429.00$ 32,445.00$ Debt Excess -$ -$ -$ Abatement Adjusts 43,064.40$ 1,291.33$ (41,773.07)$

Debt Service Total 3,394,048.40$ 3,384,720.33$ (9,328.07)$

Total Levy 6,283,707.62$ 6,702,067.35$ 418,359.73$

Sheet1

Limitation Components:16 Pay 1717 Pay 18% Change18 Pay 19Change

General RMV Voter - JOBZ Exempt$ - 0$ - 0$ - 0$ - 0

General RMV OTHER - JOBZ Exempt$ 1,726,565.95$ 1,839,821.76$ 1,863,230.73$ 23,408.97

General NTC Voter - JOBZ Exempt$ - 0$ - 0$ - 0$ - 0

Gener NTC OTHER + GEN ED - JOBZ Exempt$ 898,244.78$ 877,117.07$ 1,292,136.46$ 415,019.39

Comm. Service NTC OTHER - JOBZ Exempt$ 159,560.28$ 172,720.39$ 176,792.33$ 4,071.94

DEBT Service - NTC Voter - Nonexempt$ 2,900,168.60$ 3,394,048.40$ 3,384,720.33$ (9,328.07)

DEBT Service - NTC OTHER - Nonexempt$ - 0$ - 0$ - 0$ - 0

OPEB Debt - NTC Voter - Nonexempt$ - 0$ - 0$ - 0$ - 0

OPEB Debt - NTC OTHER - Nonexempt$ - 0$ - 0$ - 0$ - 0

$ 5,684,539.61$ 6,283,707.6210.54%$ 6,716,879.85$ 0.07

Limitation by Fund:

General Fund (01, 03, 05)$ 2,624,810.73$ 2,716,938.83$ 3,155,367.19$ 438,428.36

Community Service Fund (04)$ 159,560.28$ 172,720.39$ 176,792.33$ 4,071.94

Debt Service Fund (07)$ 2,900,168.60$ 3,394,048.40$ 3,384,720.33$ (9,328.07)

OPEB Debt Service Fund (47)$ - 0$ - 0$ - 0$ - 0

$ 5,684,539.61$ 6,283,707.6210.54%$ 6,716,879.85$ 0.07

$ 433,172.23

General RMV Voter

Operating Referendum Tier 1$ - 0$ - 0$ - 0$ - 0

Operating Referendum Tier 2$ - 0$ - 0$ - 0$ - 0

Operating Referendum Tier 3$ - 0$ - 0$ - 0$ - 0

Operating Referendum Unqualized$ - 0$ - 0$ - 0$ - 0

Adjustments$ (8.10)$ - 0$ - 0$ - 0

Offset Adjustments$ 8.10$ - 0$ - 0$ - 0

Taconite & Max Effort Adjustments$ - 0$ - 0$ - 0$ - 0

$ - 0$ - 0$ - 0

General RMV Other

Local Optional$ 905,200.00$ 962,649.60$ 961,886.40$ (763.20)

Local Optional Adjusts$ (840.00)$ 4,627.95$ 5,371.50$ 743.55

Equity$ 354,473.60$ 355,632.72$ 379,990.50$ 24,357.78

Equity Adjusts$ 10,884.14$ 16,154.92$ 9,120.34$ (7,034.58)

Transition$ - 0$ - 0$ - 0$ - 0

Transistion Adjusts$ - 0$ - 0$ - 0$ - 0

Board Approved Referendum$ 458,600.22$ 483,796.22$ 507,529.47$ 23,733.25

Board Approved Referendum Adjustments$ (1,743.91)$ 16,960.35$ (667.48)$ (17,627.83)

Misc Adjusts$ - 0$ - 0$ - 0$ - 0

Offset Adjustments$ (8.10)$ - 0$ - 0$ - 0

Taconite & Max Effort Adjustments$ - 0$ - 0$ - 0$ - 0

$ 1,726,565.95$ 1,839,821.766.56%$ 1,863,230.73$ 0.01

General NTC Voter$ 1,839,821.76$ 901,344.33

Capital Projects Referendum$ - 0$ - 0$ - 0

Adjusts$ - 0$ - 0$ - 0

$ - 0$ - 0

HERMANTOWN

General NTC OTHER + Gen Ed16 Pay 1717 Pay 18% Change18 Pay 19Change

Student Achievement$ 22,230.15$ - 0$ - 0$ - 0

Operating Capital$ 179,601.12$ 139,664.07$ 168,463.35$ 28,799.28

Operating Capital Adjustments$ 3,543.24$ (21,088.02)$ (14,758.09)$ 6,329.93

Capital Facilities & Equipment Bond Adjust$ - 0$ - 0$ - 0$ - 0

Alt Teacher Comp (Q-Comp)$ - 0$ - 0$ - 0$ - 0

Q-Comp Adjustments$ - 0$ - 0$ - 0$ - 0

Achievement & Integration$ - 0$ - 0$ - 0$ - 0

Achievement & Integration Adjustments$ - 0$ - 0$ - 0$ - 0

Reemployment$ 5,000.00$ 10,000.00$ 8,000.00$ (2,000.00)

Reemployment Adjustments$ (4,875.35)$ 5,574.16$ 24,354.29$ 18,780.13

Safe Schools$ 81,468.00$ 81,734.40$ 81,669.60$ (64.80)

Safe Schools Adjustments$ 6,688.08$ 6,299.64$ 477.00$ (5,822.64)

Judgment Levy$ - 0$ - 0$ - 0$ - 0

Ice Arena Levy$ 40,352.00$ 41,563.00$ 42,810.00$ 1,247.00

Career & Technical Levy$ 15,542.42$ 24,082.00$ 24,626.96$ 544.96

Career & Technical Levy Adjustments$ (847.93)$ (890.05)$ (441.69)$ 448.36

OPEB Pay As You Go Levy$ 155,452.00$ 177,014.00$ 140,330.00$ (36,684.00)

OPEB Pay As You Go Levy Adjustments$ - 0$ - 0$ - 0$ - 0

Health & Safety$ - 0$ - 0$ - 0$ - 0

Health & Safety Adjustments$ (69,177.69)$ (127.69)$ - 0$ 127.69

Alternative Facilities$ - 0$ - 0$ - 0$ - 0

Alternative Facilities Adjustments$ - 0$ - 0$ - 0$ - 0

Deferred Maintenance$ - 0$ - 0$ - 0$ - 0

Deferred Maintenance Adjustments$ (0.06)$ 11,199.36$ - 0$ (11,199.36)

LTFM Equalized$ 328,555.15$ 427,533.17$ 478,804.99$ 51,271.82

LTFM Unequalized$ - 0$ - 0$ - 0$ - 0

LTFM Adjustments$ 125,301.41$ (57,306.84)$ (1,749.39)$ 55,557.45

Disabled Accessibility Levy$ - 0$ - 0$ - 0$ - 0

Building/Land Lease Levy$ 9,800.00$ 12,640.28$ 327,736.49$ 315,096.21

Building/Land Lease Levy Adjustments$ - 0$ - 0$ - 0$ - 0

Health Benefits$ - 0$ - 0$ - 0$ - 0

Health Benefits Adjustments$ - 0$ - 0$ - 0$ - 0

Other Levy (MEMO)$ - 0$ - 0$ - 0$ - 0

Severance$ - 0$ - 0$ - 0$ - 0

Tree Growth$ 639.17$ 639.17$ 639.17$ - 0

Economic Development Abatement$ - 0$ - 0$ - 0$ - 0

Abatement Adjustments$ (1,026.93)$ 18,586.42$ (3,638.72)$ (22,225.14)

Offset Adjustments$ - 0$ - 0$ - 0$ - 0

Taconite & Max Effort Adjustments$ - 0$ - 0$ - 0$ - 0

Student Achievement$ 22,230.15$ - 0-100.00%$ - 0ERROR:#DIV/0!

NTC Other$ 876,014.63$ 877,117.070.13%$ 1,277,323.96$ 0.46

$ 400,206.89HERMANTOWN

Community Service16 Pay 1717 Pay 18% Change18 Pay 19Change

Basic Community Education$ 92,344.80$ 92,344.80$ 93,009.25$ 664.45

Early Childhood Family Education (ECFE)$ 52,019.51$ 50,723.45$ 53,812.69$ 3,089.24

ECFE Adjustments$ - 0$ (48.59)$ (91.23)$ (42.64)

Home Visiting$ 793.19$ 831.83$ 1,010.05$ 178.22

Home Visiting Adjustments$ (88.00)$ - 0$ - 0$ - 0

Adults with Disabilities$ - 0$ - 0$ - 0$ - 0

Adults with Disabilities Adjustments$ - 0$ - 0$ - 0$ - 0

School Age Care$ 10,000.00$ 15,000.00$ 20,000.00$ 5,000.00

School Age Care Adjustments$ 4,606.74$ 11,726.97$ 9,526.73$ (2,200.24)

Other Community Ed (MEMO)$ - 0$ - 0$ - 0$ - 0

Abatement Adjustments$ (115.96)$ 2,141.93$ (475.16)$ (2,617.09)

Offset Adjustments$ - 0$ - 0$ - 0$ - 0

Taconite & Max Effort Adjustments$ - 0$ - 0$ - 0$ - 0

$ 159,560.28$ 172,720.398.25%$ 176,792.33$ 0.02

Debt Service Voter

Debt Service - Aid Eligible$ 3,316,859.00$ 3,350,984.00$ 3,383,429.00$ 32,445.00

Debt Service - Aid Ineligible$ - 0$ - 0$ - 0$ - 0

Natural Disaster Debt$ - 0$ - 0$ - 0$ - 0

Debt Excess$ (418,298.54)$ - 0$ - 0$ - 0

Other Adjusts (MEMO)$ - 0$ - 0$ - 0$ - 0

Abatement Adjusts$ 1,608.14$ 43,064.40$ 1,291.33$ (41,773.07)

Offset Adjustments$ - 0$ - 0$ - 0$ - 0

Taconite & Max Effort Adjustments$ - 0$ - 0$ - 0$ - 0

$ 2,900,168.60$ 3,394,048.4017.03%$ 3,384,720.33$ (0.00)

Debt Service OTHER

Debt Service - Aid Eligible$ - 0$ - 0$ - 0$ - 0

Debt Service - Aid Ineligible$ - 0$ - 0$ - 0$ - 0

LTFM Debt Service & Adjustments$ - 0$ - 0$ - 0$ - 0

Debt Excess & LTFM Adjustments$ - 0$ - 0$ - 0$ - 0

Other Adjusts (MEMO)$ - 0$ - 0$ - 0$ - 0

Abatement Adjusts$ - 0$ - 0$ - 0$ - 0

Offset Adjustments$ - 0$ - 0$ - 0$ - 0

Taconite & Max Effort Adjustments$ - 0$ - 0$ - 0$ - 0

$ - 0$ - 0$ - 0

OBEB Debt Serivce$ - 0

Debt Service$ - 0$ - 0$ - 0$ - 0

Debt Excess$ - 0$ - 0$ - 0$ - 0

Other Adjusts (MEMO)$ - 0$ - 0$ - 0$ - 0

Abatement Adjusts$ - 0$ - 0$ - 0$ - 0

Offset Adjustments$ - 0$ - 0$ - 0$ - 0

Taconite & Max Effort Adjustments$ - 0$ - 0$ - 0$ - 0

$ - 0$ - 0$ - 0

Tie Out Per Line Item:$ 5,684,539.61$ 6,283,707.6210.54%$ 6,702,067.35$ 0.07

Levy Total:$ 5,684,539.61$ 6,283,707.62$ 6,716,879.85$ 433,172.23

$ - 0$ - 0$ 14,812.50

$ 3,140,554.69

Sheet2

Levy CategoriesPay 2018Pay 2019$ Inc (Dec)

General Fund

Operating Referendum$ 500,756.57$ 506,861.99$ 6,105.42

Equity$ 371,787.64$ 389,110.84$ 17,323.20

Local Optional$ 967,277.55$ 967,257.90$ (19.65)

Operating Capital$ 139,664.07$ 168,463.35$ 28,799.28

Reemployment$ 15,574.16$ 32,354.29$ 16,780.13

Safe Schools$ 88,034.04$ 82,146.60$ (5,887.44)

Ice Arena Levy$ 41,563.00$ 42,810.00$ 1,247.00

Career & Technical Levy$ 23,191.95$ 24,185.27$ 993.32

OPEB Pay As You Go Levy$ 177,014.00$ 140,330.00$ (36,684.00)

Health & Safety Adjustments$ (127.69)$ - 0$ 127.69

Deferred Maintenance Adjustments$ 11,199.36$ - 0$ (11,199.36)

LTFM $ 370,226.33$ 477,055.60$ 106,829.27

Building/Land Lease Levy$ 12,640.28$ 327,736.49$ 315,096.21

Tree Growth$ 639.17$ 639.17$ - 0

NTC Capital Adjustments$ (21,088.02)$ (14,758.09)$ 6,329.93

NTC Adjustments & General Abatements$ 18,586.42$ (3,638.72)$ (22,225.14)

General Fund Total$ 2,716,938.83$ 3,140,554.69$ 423,615.86

Community Service Fund

Basic Community Education$ 92,344.80$ 93,009.25$ 664.45

Early Childhood Family Education (ECFE)$ 50,674.86$ 53,721.46$ 3,046.60

Home Visiting$ 831.83$ 1,010.05$ 178.22

School Age Care$ 26,726.97$ 29,526.73$ 2,799.76

Abatement Adjustments$ 2,141.93$ (475.16)$ (2,617.09)

Community Service Total$ 172,720.39$ 176,792.33$ 4,071.94

Debt Service Fund

Voter Approved Debt Service$ 3,350,984.00$ 3,383,429.00$ 32,445.00

Debt Excess$ - 0$ - 0$ - 0

Abatement Adjusts$ 43,064.40$ 1,291.33$ (41,773.07)

Debt Service Total$ 3,394,048.40$ 3,384,720.33$ (9,328.07)

Total Levy$ 6,283,707.62$ 6,702,067.35$ 418,359.73

Hermantown#0700

Payable 2019 Proposed Levy by Voter Approved or Other

Hermantown#0700

Payable 2019 Proposed Levy by Taxing Classification

ISD 700 - Hermantown

1,262,086,745 Pay 2018 Final RMV1,351,636,366 Pay 2019 Est. RMV

7.10% Est. Change in RMV

15,797,497 Pay 2018 Final NTC16,928,680 Pay 2019 Est. NTC

7.16% Change in NTC

Information below prior to any available State disparity aid reductions with General Fund Underlevy

Final Pay 2018 Prelim Pay 2019 Change %

Change EMV Home Value 250,000.00 250,000.00 0.00 0.00%

Class Res Hstd Res Hstd

GENERAL 5006 2,716,938.83 3,140,554.69 423,615.86 15.59%COMMUNITY SERVICE 5011 172,720.39 176,792.33 4,071.94 2.36%

GENERAL DEBT SERVICE 5022 3,394,048.40 3,384,720.33 (9,328.07) -0.27%TOTAL 6,283,707.62 6,702,067.35 418,359.73 6.66%

School-Voter Approved 514.01 470.46 (43.55) -8.47%School - Other Local Levies 512.34 546.74 34.40 6.71%

School Portion Total 1,026.35 1,017.19 (9.15) -0.89%

VALUATION CHANGES IN ISD 700 - Hermantown

TAX BASE

ISD 700

ISD 700 - Hermantown

1,262,086,745 Pay 2018 Final RMV 15,797,497 Pay 2018 Final NTC1,351,636,366 Pay 2019 Est. RMV 16,928,680 Pay 2019 Est. NTC

7.10% Est. Change in RMV 7.16% Change in NTC

Final Pay 2018 Prelim Pay 2019 Change Final Pay 2018 Prelim Pay 2019 Change EMV Home Value 238,600.00 238,600.00 0.00 238,600.00 258,800.00 20,200.00

Property Value Increase 0.0% 8.47%Class Res Hstd Res Hstd Res Hstd Res Hstd

RMV Home Value 238,600.00 238,600.00 0.00 238,600.00 258,800.00 20,200.00NTC Home Value 2,228.00 2,228.00 0.00 2,228.00 2,449.00 221.00

St. Louis County 1,551.36 1,550.73 (0.62) 1,551.36 1,704.55 153.20City of Hermantown 920.83 943.54 22.70 920.83 1,037.13 116.29

ISD 700School-Voter Approved 486.71 445.47 (41.24) 486.71 489.65 2.95

School - Other Local Levies 487.86 522.23 34.37 487.86 569.26 81.39

School Total 974.57 967.70 (6.87) 974.57 1,058.91 84.34School Portion Only Change -0.70% School Portion Only Change 8.65%

Tax Increment District - - - - Other Special Taxing Districts 26.69 25.78 (0.91) 26.69 28.33 1.64

Total Property Tax 3,473.45 3,487.75 14.30 3,473.45 3,828.92 355.48

% Chg excluding any Special Assessments 0.4% % Chg excluding any Special Assessments 10.2%

Property ID - 395001009131 - Prior to Disparity Aid Reductions

NO VALUATION CHANGE PROPOSED

INDEPENDENT SCHOOL DISTRICT 700 - HERMANTOWNOutstanding Debt Payments (General Obligation plus Certificates of Participation)Date prepared: December 5, 2018

Fiscal Year

G.O. Refunding Bonds, Series

2006B

G.O. School Building Bonds,

Series 2014A

G.O. Alternative Facilities Capital

Appreciation Bonds, Series

2015A

Certificates of Participation, Series 2018A

Total Principal & Interest

2019 343,200.00 2,848,212.50 3,191,412.50 2020 3,222,312.50 314,500.00 3,536,812.50 2021 3,258,512.50 319,000.00 3,577,512.50 2022 3,289,650.00 316,600.00 3,606,250.00 2023 3,321,850.00 319,000.00 3,640,850.00 2024 3,355,250.00 316,000.00 3,671,250.00 2025 3,389,650.00 317,800.00 3,707,450.00 2026 3,424,850.00 319,200.00 3,744,050.00 2027 3,455,450.00 315,200.00 3,770,650.00 2028 3,492,650.00 316,000.00 3,808,650.00 2029 3,525,050.00 316,400.00 3,841,450.00 2030 3,562,650.00 316,400.00 3,879,050.00 2031 3,597,250.00 316,000.00 3,913,250.00 2032 3,634,250.00 315,200.00 3,949,450.00 2033 3,668,000.00 319,000.00 3,987,000.00 2034 3,708,250.00 317,200.00 4,025,450.00 2035 3,744,250.00 3,744,250.00 2036 3,780,750.00 3,780,750.00 2037 2,882,250.00 940,000.00 3,822,250.00 2038 3,575,000.00 3,575,000.00 2039 1,132,095.25 1,132,095.25

Annual Principal and Interest Summary of Payments

Hermantown#0700

Levy History

Year Levy % Change

2013 13Pay14 4,753,702.40$ 115.55%

2014 14Pay15 4,819,911.05$ 1.39%

2015 15Pay16 5,251,154.99$ 8.95%

2016 16Pay17 5,684,539.61$ 8.25%

2017 17Pay18 6,283,707.62$ 10.54%

2018 18Pay19 6,702,067.35$ 6.66%

Regional Proposed LevyInformation

Other Factors• Changes in individual property value• Changes in the total value of all property• Changes in legislation• Changes in enrollment

-Affects levy calculations and equalization formulas• Homestead Exclusion

-For a homestead valued at $76,000 or less, the exclusion is 40 percent of market value -For a homestead valued between $76,000 and $413,800, the exclusion is $30,400 minus 9% of the market value over $76,000

Hermantown #0700

Hermantown#0700

Fund REVENUE EXPENSE Projected Surplus/(Deficit)

01,03,05 General Fund (inc. Trans. & Op. Cap) 22,102,382.00$ 21,835,404.00$ $266,978.0002 Food Service Fund 731,900.00$ 720,156.00$ $11,744.0004 Community Service Fund 907,845.00$ 855,335.00$ $52,510.0006 Building Construction Fund -$ -$ $0.0007 Debt Redemption Fund 3,404,380.00$ 3,195,413.00$ $208,967.0008 Trust Fund 5,000.00$ 500.00$ $4,500.0009 Agency Fund -$ -$ $0.0020 Internal Service Fund 162,500.00$ 161,000.00$ $1,500.0025 OPEB Revocable Trust Fund -$ -$ $0.0045 OPEB Irrevocable Trust Fund -$ -$ $0.0047 OPEB Debt Service Fund -$ -$ $0.00

Total All Funds: 27,314,007.00$ 26,767,808.00$ $546,199.00

2018-19 Expense and Revenue Budget Comparison

PRO (local source codes may be different) REVENUE % of Total Budget All Funds001-099601-622 Local Sources 8,411,254.00$ 30.79%200-399 State Sources 18,109,042.00$ 66.30%400-599 Federal Sources 793,711.00$ 2.91%631-649 Other Local Sources -$ 0.00%

Total Revenues All Funds 27,314,007.00$

Hermantown#0700

2018-19 Revenues by SOURCE Code

Hermantown#0700

Payable 2018 Final Levy as a component of Revenue Budget

Hermantown #0700

PRO EXPENSE % of Total Budget All Funds

100-199 Salaries & Wages 13,368,263.00$ 49.93%200-299 Employee Benefits 4,500,977.00$ 16.81%300-399 Purchased Services 2,770,938.00$ 10.35%400-499 Supplies & Materials 2,037,846.00$ 7.61%500-599 Capital Expenditures 875,621.00$ 3.27%700-799 Debt Service 3,195,413.00$ 11.94%800-899 Other Expenditures 23,250.00$ 0.09%900-999 Other Financing Uses -$ 0.00%

Total Expenses All Funds 26,772,308.00$

2018-19 Expense by OBJECT Area ALL Funds

THANK YOU!

Truth in Taxation MeetingHermantown �Community Schools�Which Property Owners Pay Taxes to School Districts?Hermantown �Community SchoolsHermantown �Community SchoolsLevy InformationHermantown�#0700�Levy Summary by FundHermantown �#0700�Levy Comparison by Levy Category�Payable 2018 Final – Payable 2019 proposedSlide Number 9Hermantown �#0700�Payable 2019 Proposed Levy by Voter Approved or OtherHermantown�#0700�Payable 2019 Proposed Levy by Taxing Classification Slide Number 12Slide Number 13Slide Number 14Slide Number 15Slide Number 16Hermantown�#0700�Levy HistoryRegional Proposed Levy�InformationOther FactorsHermantown �#0700Hermantown�#0700Slide Number 22Hermantown�#0700�Payable 2018 Final Levy as a component of Revenue BudgetHermantown �#0700THANK YOU!