School districts across Iowa are busy working on budgets for the 2013-14 school year or Fiscal Year 2014. School administrators will be presenting budgets to school boards for preliminary discussion, to set publication and hearing dates in March meetings. School budgets must be certified by April 15th and the Benton Board will approve the FY 14 budget at the regular meeting of the Board on April 10, 2013.
The budget guarantee provides school districts the flexibility to adopt a resolution to provide for a 101% budget adjustment or 1% more revenue than the current budget year. This budget adjustment if approved is generated through levying property taxes. This is one of the reasons why the legislature providing adequate allowable growth is so important to local school districts.
Below are the numbers for Benton Community based on four allowable growth scenarios. Unless the legislature acts on allowable growth soon, the published budget for consideration will be based on zero allowable growth for next year.
Budget Guarantee Amounts:
Zero Allowable Growth $330,093
2% Allowable Growth $150,981
3% Allowable Growth $61,425
4% Allowable Growth $0
