By Megan Kelley
Review Writer
LAKE ORION — Lake Orion Community Schools held its annual Truth in Budget and Taxation Hearing and approved the tax levy, as presented.
The hearing during the regular school board meeting on June 1 served as an opportunity for members of the community to voice their opinions on the districts 2021-22 Draft-2 General Fund Budget and the underlying tax levy supporting it. No one spoke.
District documents show the following millage levies and estimated tax revenues:
General Fund Revenue Estimate will levy 18 mills with an estimated revenue of $9,832,821.
Building and Site Sinking Fund Estimate will levy at 1.8862 mills with an estimated revenue of $4,467,786.
Debt Service Fund(s) Revenue Estimate will have a levy of 7.491 mills with an estimated revenue of $17,743,710.
The total estimated tax revenue that will be applied to applicable qualifying property as of July 1 of this year is $32,044,317.
According to district documents, the total revenue expected for the 2022-23 fiscal year is $94,715,128, which includes the per pupil allowance from the State of Michigan.
After expenditures, the district is looking at an ending fund balance of $9,627,919.