ESD Approves Proposed Budget for 2021-22 - Certifies Tax LevyFri, 11 Jun 2021 06:02:02 EDT
As required by state law, The Alpena Montmorency Alcona Educational Service District (AMA-ESD Board ) held a public hearing Thursday, approved their proposed budget for the 2021-22 fiscal year, and certified their 2021-22 tax levy.
The approved general fund budget calls for almost 4 point 3 million dollars ($4,267,932.00) in revenues and more than 4 point 4 million dollars ($4,368,643.00) in expenses. That would result in a deficit of just under 101 thousand dollars ($100,711.00).
The board is expected to have a nearly 1 point 4 million dollar surplus ($1,375,009.00) saved up, bringing the new balance to nearly 1 point 3 million ($1,274,298.00) after other committed and assigned funds are factored in.
In the special education fund, revenues of almost 8 point 8 million dollars ($8,775,684.00) would be under expenses of nearly 9 point 1 million ($9,062,564.00) resulting in a deficit of less than 287 thousand ($286,880.00). Officials explained the AMA-ESD has a surplus of almost 4 point 8 million dollars ($4,790,134.00) saved, so the end balance would come to more than 4 point 5 million dollars ($4,503,254.00).
The board also certified the 2021-22 tax levy, which showed a tax rate of point 2 mills (.2134) in the general fund. That generates just over 431 thousand dollars ($431,460.00). A tax rate of one point nine (1.9698) mills will result in less than 4 million dollars ($3,982,603.00) for the special education fund.
WebReadyTM Powered by WireReady®NSI