Current Finances
Here is the most recent Spring 2025 Community Update presented at all township and village meetings. Our plan is to visit these meetings twice per year (fall and spring) to give an update on our schools and gather feedback/information from our community.
End of June 2025, our bank balances were:
- Daily Operations = $1,688,674.51
- Investments = $1,959,913.83
Now that we have closed the fiscal year, I have requested tax advances from Clinton and Warren Counties to hold us over until we receive our fall tax settlements.
Due to the 2023 reappraisal year for Clinton County and 2024 reappraisal from Warren County, our tax collections increased almost $1.3 million dollars than the 23-24 school year.
Our bond millage rate has decreased from 1.5 to 1.2 and will remain at 1.2 for this year. The bond will come off the books December 2028. Due to refinancing three times, we have shaved essentially 3 years of payments off the original cost of the construction bond from 2001.
We no longer receive money from the 0.5 mill maintenance levy, which is why we will be putting 25% of the new 1% earned income tax revenue toward permanent improvements.
To give you a frame of reference, it costs our district an average of $485,000 for each payroll (semimonthly), $245,000 for our insurance each month (District side only), and $13,000 for Medicare each month (District side only).
Granted, we get about $385,000 twice a month from State Funding (which in addition covers our STRS/SERS [pensions] each month ~$142,000).
For our income tax, we get quarterly payments at the ends of January, April, July, and October. 2024 was the last year your income will be taxed under the 0.5% earned income tax levy that was passed in May 2019. 2026 will be the first year your income will be taxed under the 1% earned income tax levy passed in May 2025. We are projecting to receive about $200k in April of 2026.