1022 MPS - Flipbook - Page 5
Where the Money Comes from
State Support (General Fund)
State sources of revenue
generated $23.8 million,
or 22%, of all general fund
revenues. Because of a
relatively high property
valuation and income per pupil,
as well as other demographic
figures, the district is
considered wealthy and
receives much less than the
state average (43%).
In FY20 the state reduced
its funding by approximately
$1,976,127 due to the impact
of the pandemic on the
economy. This reduction only
lasted one year. The state
implemented a new funding
model in FY22, commonly
referred to as the Fair School
Funding Model, which funds
schools directly based on
predetermined costs associated
with educating students across
the state and the number of
students attending the district.
The district saw a decrease in
unrestricted aid (-$2,041,459)
in FY22, but saw an increase
in restricted aid ($1,486,641)
with the new funding model.
The district saw a net decrease
in state aid of $554,818.
Casino Revenue
The state legislature designated
34% of tax receipts generated
from casinos to school districts
across the state starting in
calendar year 2013. As the chart
to the right shows, while this
money is appreciated, it provides
minimal impact.
State Sources of Revenue
Five Year Comparison
Restricted State Aid
Unrestricted State Aid
Homestead and Rollback
$25 million
$20 million
$15 million
$10 million
$5 million
0
2018
2019
2020
2021
2022
CASINO REVENUE
Casino
Revenue
FY18
FY19
FY20
FY21
FY22
$390,566
$400,639
$405,948
$104,454
$454,864
0.39%
0.39%
0.10%
0.43%
Percentage of
Total General
Fund Revenue
0.37%
MENTORSCHOOLS.NET / C FO
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