Newman Grove School Board adopted the 2019-20 school budget during its regular meeting Monday night, Sept. 9.
The board also approved two motions pertaining to the sports cooperative with Boone Central.
There were significant changes in the school budget this year. Total property tax request for 2019-20 is listed at $3,433,902, an increase of $464,739 or 15.65 percent from last year’s total property tax request of $2,969,162.
Property tax to support the general fund is listed at $2,731,663, an increase of $515,026 from last year’s property tax request of $2,216,637.
Budgeted disbursements and transfers for the general fund for 2019-20 are listed at $3,464,977, with $706,631 in resources before property taxes. Last year’s general fund disbursements and transfers were $3,416,000, with $1,290,821 in resources before property taxes.
The bond fund for 2019-20 lists disbursements and transfers at $755,217, with $160,000 in cash reserves. Bond fund property tax requirement for 2019-20 is $601,220, or about eight percent less than last year’s requirement of $752,525.
Last year, there was no tax levy for the special building fund, which had disbursements and transfers listed at $662,323, with available resources in the same amount.
For 2019-20, the special building fund lists disbursements and transfers of $8,446,194 due to the construction project, with a property tax levy of $101,010.
The district’s total property tax rate last year (2018-19) was .475979 per $100 of assessed valuation. For the coming year (2019-20) the total tax rate is .550481 per $100.
The board approved an amended current cooperative agreement (2018-20) with Boone Central Schools. This agreement adds boys golf to the available co-op sports for the two schools in the spring of 2020.
The board also approved the next two-year (2020-22) sports co-op agreement with Boone Central.
Under the 2020-22 agreement, the name of the co-op will change from Boone Central/Newman Grove to Boone Central. This agreement also adds girls golf to the available co-op sports beginning in the fall of 2020.