0923 MPS - Flipbook - Page 5
where the money Comes from
State Support (General Fund)
State Sources of Revenue
State sources of revenue generated
$24.2 million, or 21.98%, of all
Five Year Comparison
general fund revenues. Because of
a relatively high property valuation
Restricted State Aid
and income per pupil, as well as
other demographic figures, the
Unrestricted State Aid
district is considered wealthy and
receives much less than the state
Homestead and Rollback
average (43% of annual general
operating revenue).
$25 million
In FY20, the state reduced
its funding by approximately
$1,976,127 due to the impact of
the pandemic on the economy.
$20 million
This reduction only lasted one
year. The state implemented
a new funding model in FY22,
commonly referred to as the Fair
$15 million
School Funding Model, which
funds schools directly based on
predetermined costs associated
with educating students across the
$10 million
state and the number of students
attending the district. The district
saw an increase in unrestricted
aid ($443,903) in FY23, but saw
$5 million
a slight decrease in restricted aid
(-$93,281) with the new funding
model. The district saw a net
0
increase in state aid of $350,622.
Casino Revenue
2019
2020
2021
2022
2023
Casino Revenue
The state legislature designated
34% of tax receipts generated
from casinos to school districts
FY19
FY20
FY21
FY22
FY23
$400,639
$405,948
$104,454
$454,864
$462,640
across the state starting in
calendar year 2013. As the
chart shows, while this money
is appreciated, it provides
minimal impact.
Percentage of Total General Fund Revenue
0.39%
0.39%
0.10%
0.43%
0.42%
M E N TO R S C H O O L S . N E T / C F O
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