1022 MPS - Flipbook - Page 4
Where the Money Comes from
General Fund Revenue
General Fund Revenue FY22
Local Property Taxes include
residential, commercial, and public
utility property taxes and tax
incremental financing proceeds.
State Support includes aid based on
the Fair School Funding Formula, the
Homestead (owner-occupied) and
Rollback credits, and the district’s
portion of Casino Revenue. All Other
Operational Revenue includes tuition,
student activity fees, rental charges,
investment income, and donations.
The district received the majority of its
revenue — 76% — from Local Property
Taxes. The burden on local taxpayers is
likely 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 7.0% is from public utility. The
district does not receive any local
income tax.
State Support
22.5%
Federal Funding
1%
Other
0.5%
Local Property Taxes
76.1%
Local Property Taxes
This graph shows the amount of cash
collections received by the district
from real and personal property taxes.
Property taxes provide the majority of the
local revenue to operate and maintain our
schools. This district accounts for these
collections in two funds:
General Fund (Operating Levy):
Tax dollars are received by the district for
day-to-day operations, which primarily
entail employee salaries and benefits.
Property Tax Revenue
The Two District Funds
General Fund
Permanent Improvement
$80 million
$60 million
$40 million
Permanent Improvement:
Tax dollars are received by the district
and can be used only for repairs,
improvements to buildings 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.
4
$20 million
M EN TOR P U B L I C S CH OO LS 2022 C O MM U NITY F INA NC IAL REPORT
0
2018
2019
2020
2021
2022
