News and information for staff members and the Madison community
Vol. I No. 5 - March 29, 2006
The district is annually confronted with having to cut its "cost-to-continue" budget in order to comply with state-imposed revenue limits. This year the "revenue limit gap" (the difference between how much the district can take from the property tax levy and the amount needed to support the "cost-to-continue" budget) is projected to be $7.96 million.
Revenue limits allow the district to increase its budget by about 2.6%. However, state law also requires school district to offer wage/benefit package increases of at least 3.8% (Qualified Economic Offer) to avoid arbitration. Education is extremely personnel intensive, and personnel costs account for 86% of the district's entire budget. The revenue limit law, the QEO, and under-funded state mandates (special education, bilingual) are the primary factors that require the district to annually cut its "cost-to-continue" budget.
Since revenue limits began in 1993, the district has eliminated over 526 positions and cut nearly $45.8 million from its "cost-to-continue" budget.
The administration will send its recommended budget to the Board of Education in late April, followed by public hearings in May. The BOE will give preliminary budget approval in June. In the fall, adjustments will be made commensurate with 2006-07 enrollment figures, with the final adoption of the budget and levy certification scheduled for October.
Last Updated: Wed Apr 26 07:48:49 2006
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