LOCS holds Truth in Budget and Taxation hearing

By Megan Kelley

Review Writer

The Lake Orion Community Schools Board of Education held their annual Truth in Budget and Taxation public hearing during their regularly scheduled meeting on June 2.

There were no members of the public who wished to voice their own comments during the hearing.

Assistant Superintendent of Business and Finance John Fitzgerald led the discussion regarding the district’s proposed 2021-22 fiscal year general fund budget and the underlying tax levy that supports it.

“What we’re really discussing is the upcoming tax levy the district is planning to levy for this coming fiscal year’s operations,” said Fitzgerald.

“The funding for the district’s public schools are predominantly funneled through state aid, but there’s still an element of property tax direct payment into the operations of the district as far as the general fund and the direct levy of property taxes for supporting sinking fund and debt service fund operations.”

The property tax the district is expected to levy for the general fund is 18 mills with an estimated generation of $9,280,850.

The building and site sinking fund will be 1.9078 mills with an estimated generation of $4,232,100 and the debt service fund(s) revenue expects to levy 7.491 mills with an estimated generation of $16,617,400. The estimated total tax levy is $30,130,350.

The LOCS school board approved the tax rate levy unanimously.

 

Leave a Reply

Your email address will not be published.