Friday, April 14, 2017

CCA FY 18 Certified Budget

At their special meeting on April 12th the Board of education approved the Certified Budget for FY 2018. Districts are required under Iowa law to have their certified budgets approved by April 15.

The top box gives Total Special Program Funding. For CCA these include the Instructional Support Levy (ISL) and the Voted Physical Plant and Equipment Levy (VPPEL). The ISL is a portion of the general fund that is used for instructional materials, staff salaries, etc. The VPPEL is, as the name says, used for the upkeep and improvements of our facilities, technology, vehicle purchases, some band instruments, and other equipment with an individual price over $500. It cannot be used for salaries. A unique characteristic of these levies is that they are funded by a combination of property tax and income surtax.

The second box down shows that the ISL is funded with a 7% income surtax rate, in combination with a property tax rate of $0.02471(Line 7 lower on the page). The VPPEL is funded with a 5% income surtax rate and a property tax rate of $0.05539 (Line 14 lower on the page). These rates are consistent with FY 17.

The bottom box, with numbered lines has the breakdown of CCA property tax rates. The FY 18 rate of $16.95892 is within 100ths of a cent of the FY 17 rate. CCA is unique in that the Amana Library Fund is utilized by our district. The historic Amana district pays a $0.20 higher rate than the rest of the CCA district.  The $16.95 rate is for the historic Amana district, the remainder of CCA pays a rate of $16.75. Our projections show a stable rate over the next five years. Reminder that the property tax you pay each year may go up or down based on your valuation changes, as well as the potentially changing tax rates of other entities.

If you have any questions regarding the CCA certified budget or tax rate, please contact Tim Kuehl or Lori Robertson at the district office: 319-828-4510.

Sincerely,

Tim Kuehl
Superintendent