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  • FOIA Tuition Tax Calc FY17

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    KevinOhlandt
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    This document provides calculations to determine the tuition tax rate for Appoquinimink School District for Fiscal Year 2017. It shows the total funds needed for tuition payments to other districts and private schools is projected to be $10,434,215 for FY2017 and $11,303,509 for FY2018. The minimum amount needed to be raised through the tuition tax is $10,402,547. Given the projected tax collection amount of $205,761 per penny, a tax rate increase of 7.76 cents to 50.56 cents per $100 of assessed property value is recommended.

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    Appoquinimink FOIA Tuition Tax Calculation FY2017, 7/21/2016

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    This document provides calculations to determine the tuition tax rate for Appoquinimink School District for Fiscal Year 2017. It shows the total funds needed for tuition payments to other districts and private schools is projected to be $10,434,215 for FY2017 and $11,303,509 for FY2018. The minimum amount needed to be raised through the tuition tax is $10,402,547. Given the projected tax collection amount of $205,761 per penny, a tax rate increase of 7.76 cents to 50.56 cents per $100 of assessed property value is recommended.

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    © All Rights Reserved
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    4K views1 page

    FOIA Tuition Tax Calc FY17

    Uploaded by

    KevinOhlandt
    This document provides calculations to determine the tuition tax rate for Appoquinimink School District for Fiscal Year 2017. It shows the total funds needed for tuition payments to other districts and private schools is projected to be $10,434,215 for FY2017 and $11,303,509 for FY2018. The minimum amount needed to be raised through the tuition tax is $10,402,547. Given the projected tax collection amount of $205,761 per penny, a tax rate increase of 7.76 cents to 50.56 cents per $100 of assessed property value is recommended.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 1

    Appoquinimink School District

    Tuition Tax (Appr 91050) Rate Calculation


    FY 2017
    Total Funds Needed for Year:
    Christina School District (Sterck)
    Christina School District (Autism Program)
    Colonial School District (Leach/Inclusion)
    Colonial School District (PreK)
    Colonial School District (Wallace Wallin)
    Red Clay SD (First State School)
    Red Clay SD (ILC)
    Red Clay SD (Meadowwood)
    NCC Consortium
    Private Placement - DOE bill**
    **Advoserv, Benedictine, High Road, Devereux
    Kids Peace (Private Placement)
    Maryland School for the Blind
    Shorehaven
    Centra Health
    Specialized Education of Delaware
    Other outside placements/transportation
    Tuition Tax used in Charter Payments
    Tuition Tax supporting Choice students
    99970020/99999 Needs Based
    99970020/99999 ADD Middle Skillbuilders
    Total Local Funds Projected for Budget:

    To be billed
    Actual final
    To Date
    6/27/2016
    FY16
    413,090
    1,101,172
    80,793
    48,287
    10,582
    27,457
    176,180
    219,062

    Total
    Projected
    FY16
    413,090
    1,101,172
    80,793
    48,287
    10,582
    27,457
    176,180
    219,062

    Actual
    FY14
    228,712
    736,085
    76,754
    2,660
    33,526
    4,615
    163,834
    210,591

    Actual
    FY15
    248,101
    1,117,033
    104,543
    (6,127)
    166,448
    288,376

    94,060
    117,682
    7,124
    123,967
    4,706,203
    -

    81,789
    40,931
    111,514
    2,903
    130,667
    5,356,316
    -

    74,093
    41,462
    105,011
    4,662
    43,407
    480
    95,556
    7,148,711
    -

    6,505,813

    7,642,494

    9,590,006

    Total Tuition Tax Funds Needed:

    Projected
    FY17
    433,745
    1,156,231
    84,833
    50,701
    11,111
    28,830
    184,989
    230,015

    Projected
    FY18
    455,432
    1,214,042
    89,074
    53,236
    11,667
    30,271
    194,239
    241,516

    74,093
    41,462
    105,011
    4,662
    43,407
    480
    95,556
    7,148,711
    -

    77,798
    43,535
    110,262
    4,895
    45,577
    3,000
    105,112
    7,863,582

    81,688
    115,775
    47,856
    3,150
    115,623
    8,649,941
    -

    9,590,006

    10,434,215

    11,303,509

    9,590,006

    10,434,215

    11,303,509

    Actual Tuition Fund (91050) Balance 6/27/2016:


    Projected Collections Through Jun 30:
    Less Estimated Expenses Remainder of FY:
    Projected Tuition Fund Balance, July 1, 2016:

    89 (incl encumbered funds)


    31,579
    0
    31,668

    Estimated FY17 Needs:


    * Estimated FY18 Needs thru Oct 2016 (33% of Est Needs Based):
    Less Projected Tuition Fund Balance, July 1, 2016:
    MINIMUM amount needed to raise:
    Tuition Tax Rate Needed:
    Rate for Prior Year:
    Total Increase from Prior Year:
    One Cent Incr in Tax Rate Generates:
    Less 0% for delinquencies yields:

    10,402,547

    divided by

    $205,761

    10,434,215
    * Not Collecting for FY17
    (31,668)
    10,402,547
    requires

    cents

    205,761 NCC annual assessment report


    205,761 Del C. 14 Sec 1913(a) allows fixing rate allowing for up to 10% delinquencies

    * Carryover goal: We should try to carry over enough to cover expenses in Needs Based through October.
    RECOMMENDATION:
    Increase rate by 7.76c to 50.56c/100

    50.56
    42.80
    7.76

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