2010-11 school levy is $27.8 million
With the final numbers now calculated in Madison, the Hudson School District budget and tax levy for 2010-11 is final. The numbers will stay the same as approved at the district's annual meeting in September.
The 2010-11 levy of $27,828,892 is the same amount levied last year. However, the district property valuation dropped by almost 8 percent which caused the mill rate to rise by more than 8 percent from $7.67 last year to $8.31 per $1,000 of property value for 2010-11.
The Hudson School District budget for the current school year is $51.9 million. Last year's unaudited budget was $47.7 million. The district's administration and the school board took several steps to keep the levy the same as last year including cuts in the operating budget, $600,000 from the fund balance for operating costs and the use of $810,000 of the $1.5 million received from the Federal Education Jobs Fund.
The final budget was approved by the Board of Education at a special meeting last week. In addition to the $600,000 taken from the general fund to offset the levy, the board had also voted to take $1 million from it to cover half of the cost of the Hudson Middle School addition. The remaining $1 million of the $2 million project is being funded by federal interest-free school construction bonds.
District Financial Services Director Tim Erickson said the amount of the tax levy is under the limit allowed by law by more than $8.9 million.
District property valuation, according to estimates provided by the Wisconsin Department of Revenue, has dropped by about $282 million since last year. The biggest decrease appears to be in the Town of Hudson where values fell by 10.6 percent, followed by 8.8 percent in North Hudson and around 7 percent in the city of Hudson and St. Joseph Township. The lowest drop was in the Town of Troy at just over 1 percent.
For more information contact the district's office of Financial Services at (715) 377-3704 or go to www.hudson.k12.wi.us.