FROM THE SCHOOL BOARD
Stowe School District
2019-2020 Proposed School Budget
While we pursue legal and legislative solutions regarding the State Board of Education’s forced merger ruling, we have an agreement that allows us to develop budgets for Elmore-Morristown and Stowe respectively and prepare for operations under our current structure. In the event our appeal is successful or there is a delay in the implementation of Act 46, these proposed budgets are the foundations for our operations in support of our students for the coming year. Early voting on board members and budgets for EMUU and Stowe has started, or you may vote on Town Meeting Day, March 5, 2019. Your vote is important!
What is the overall proposed school budget for next year?
The total proposed Stowe school budget is $12,776,450.
How does this compare to the current school budget?
This is $697,175 more than the current budget and represents a 5.8% increase.
Does the proposed budget affect any program offerings?
The proposed FY20 Stowe School District budget maintains current programming and staffing and adds .2 FTE for Art at Stowe Elementary School, and additional 1.0 FTE for an Internship Program at Stowe High School, an increase of .25 FTE Athletic Director and resources added for Artists in Residence to support instrumental music. Also included are additional resources to provide mental health and substance abuse prevention support for K-12 students.
What is Stowe’s spending per pupil?
Stowe’s education spending per equalized pupil for 2019-2020 is $15,805, which is an increase of 5.8% from the FY19 amount.
How will the proposed school budget affect my property taxes?
The projected increase in the Local Homestead Tax Rate is 5.0 cents ($0.0503), or 3.3%, to $1.569. This is an increase of $50.00 per $100,000 of assessed homestead value.
Individuals eligible for Income Sensitivity are expected to see a slight decrease in the maximum amount of Homestead Property Tax of 0.1%. The Non-Homestead Tax Rate is projected to increase by 3.1 cents ($0.031) to $1.673.
Non-Homestead tax rates are not directly affected by our local school budget; they are affected by CLA and statewide education spending.
What is the status of the General Fund and the Capital Fund?
As of June 30, 2018, there was a General Fund balance of $1,128,050. Of this amount, $300,000 was committed as revenue to the FY19 budget and $300,000 was transferred to the Capital Fund in FY19. In FY20, the board recommends applying $300,000 as revenue to offset the proposed FY20 budget. This leaves $228,050 of unassigned fund balance for future expenses with approval of the electorate.
As of July 1, 2018, there is a balance of $975,084 in the Capital Fund. Spending as of December 31, 2018, totals $229,500, bringing the fund balance to approximately $746,000. The proposed budget provides for $150,000 to assist in funding capital needs. The board proposes to use $631,000 for needed repairs at both the Stowe Elementary and Stowe middle/High Schools. At Stowe Elementary, the board is proposing boiler room improvements; roof replacement over the upper wing, gym, and library; and window replacement in the cafeteria. At Stowe Middle/High School priority capital needs for the coming year include replacement of the fire alarm system; refurbishing of siding on the rear of the building; replacement of the outside bleachers; chimney repairs; and replacement of the kitchen cooler.
When and where is the vote on Stowe’s proposed school budget?
The vote on the school budget is by Australian ballot in the Stowe High School Gym, 7:00 A.M. to 7:00 P.M. on Town Meeting Day – Tuesday, March 5, 2019.
Voters may also vote early at the Town Clerk’s Office.