News and information for staff members and the Madison community
Vol. II No. 5 - February 27, 2007
The preparation of the MMSD budget for 2007-08 continues. In mid-January, the Board of Education was informed by administration that the budget forecast for next year projects a gap of $10,547,777.
This is the projected gap between what state-imposed revenue limits allow the district to raise from the property tax levy and the "cost to continue" budget, i.e. providing the same services and programs next year as is provided this year.
The budget cuts necessary to balance the budget will be released on Friday, March 9. These proposed cuts represent the administration's recommendations to meet the $10.5 million shortfall.
The full balanced budget will be released in mid-April, when the Board will begin to consider changes.
In past years, the Board has approved a tentative budget in late May or June. In October, the budget will be finalized after adjustments are made based on actual numbers.
Projections for the next five years indicate that enrollment will increase by 948 students. Such an enrollment increase will contribute to the projected long-term budget deficits because the revenue limit formula does not give us full credit for each new student until that student has been enrolled for three consecutive years.
For more information about the 2007-08 MMSD budget, click here.
Last Updated: Mon Apr 2 14:44:11 2007
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