By Kelsie Hoitomt
GLENWOOD CITY – The Glenwood City Board of Education presented their yearly Budget Hearing and Annual Meeting on Monday night.
Due to an increase in pupils and student based needs, the mill rate is projected to increase from $9.86 in 2013-14 to $10.12 per $1,000 in 2014-15.
The total proposed levy is then currently projected at $2,210,363, which is up from $2,153,837 last year.
This makes for a total increase on the levy of $56,528 and an increase on the mill rate of $0.26.
There is also a slight increase in equalized value amongst the City of Glenwood and the Townships and Villages in the district with the figure trending around the $218,000,000 mark for 2013 and 2014.
Superintendent Tim Johnson stated that even though there is this slight increase, this is a good thing because it means the student population is increasing at Glenwood City.
The projected number of Full Time Equivalents (FTEs) in 2014-15 is at 756 (based on the September count), but there is still about a 25 student difference between the Open Enrollment Out and Open Enrollment In ratio.
The district has their doors wide open in terms of accepting students in order to close that gap as there is a negative or behind balance of $200,000 on expenditures with that open enrollment out count.
In terms of the budget, this will be the fourth straight school year that the district has not borrowed money. Since 2012 there has been zero dollars spent on short term borrowing.
The 2015-16 Budget Hearing and Annual Meeting was approved to be on September 14, 2015.