0923 MPS - Flipbook - Page 4
where the money Comes from
General Fund Revenue
General Fund Revenue FY2023
Local property taxes include
residential, commercial and public
utility property taxes and tax
incremental financing proceeds.
State support includes aid based on
State Support
the Fair School Funding Formula, the
21.98%
Homestead (owner-occupied) and
Rollback credits, and the district’s
Federal
Funding*
portion of Casino Revenue. All
Other Operational Revenue includes
0.58%
tuition, student activity fees, rental
Other
charges, investment income and
0.47%
donations. The district received
the majority of its revenue — 76%
Local Property
Taxes
— from local property taxes. The
burden on local taxpayers is likely
76.97%
to grow as state aid is expected
to remain steady. Approximately
69.3% of property taxes are
generated from residential, 23.7%
from commercial and 7% from
public utility. The district does not
receive any local income tax.
* This represents only Federal Funds receipted into the general fund. The district received
$6,023,338 in non-food service funds in FY23 and an additional $1,385,745 in food
service reimbursements that are receipted into non-general fund accounts.
Property Tax Revenue
Local Property Taxes
The Two District Funds
This graph shows the amount of
cash collections received by the
district from real and personal
General Fund
property taxes. Property taxes
Permanent Improvement
provide the majority of the local
revenue to operate and maintain our
schools. This district accounts for
$100 million
these collections in two funds:
General Fund (Operating Levy):
Tax dollars are received by the
$80 million
district for day-to-day operations,
which primarily entail employee
salaries and benefits.
$60 million
Permanent Improvement:
Tax dollars are received by the
district and can be used only for
repairs, improvements to buildings
$40 million
and grounds, technology, vehicles,
textbooks and other capital assets
with a useful life of five years or
more. These funds cannot be used
for employee salaries and benefits.
$20 million
0
2019
4
M E N TO R P U B L I C S C H O O L S 2 0 2 3 C O M M U N I T Y F I N A N C I A L R E P O R T
2020
2021
2022
2023
