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Preliminary Levy Certification�and budget update

September 26, 2023

School Board Presentation

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Purpose

The purpose of this presentation is to:

  1. review the preliminary Pay 2024 tax levy for St. Louis Park Public Schools in preparation for School Board action to certify the levy at maximum.
  2. provide information regarding budget data gathering

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September 26, 2023 School Board Meeting

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Three Fiscal Years

Fiscal Year

Dates

Topic(s)

FY 2023

July 1, 2022 – June 30, 2023

FY2023 Audit

FY 2024

July 1, 2023 – June 30, 2024

FY2024 Fall Enrollment & Budget Impact

FY 2025

July 1, 2024 – June 30, 2025

FY2025 Preliminary Pay 2024 Levy

September 26, 2023 School Board Meeting

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September 26, 2023 School Board Meeting

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September 26, 2023 School Board Meeting

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Fiscal Year 2023: Audit

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September 26, 2023 School Board Meeting

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FY 2023: Audit Information

  • Audit – final field work began September 25
  • Audit acceptance scheduled for December 12 School Board meeting

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September 26, 2023 School Board Meeting

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Fiscal Year 2024: Enrollment/Budget

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September 26, 2023 School Board Meeting

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FY 2024: Budget Adjustment

  • Fall budget adjustment
    • Grants and federal funds
    • Unbudgeted revenue/expenditures resulting from 2023 legislative session
    • Scheduled for November 21 school board meeting
  • Spring budget adjustment
    • Beginning fund balance (from FY 2023 audit)
    • Revenue/expenditure with new trend data
    • Enrollment projections with new trend information
    • Scheduled for April 23 school board meeting

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September 26, 2023 School Board Meeting

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FY 2024: projected enrollment

September 26, 2023 School Board Meeting

FY 2024 (Fall 2023) Enrollment Projection

School

K

1

2

3

4

5

6

7

8

9

10

11

12

K-12

Aquila

95

81

88

79

99

83

​

​

​

​

​

​

​

525

Peter Hobart

58

49

67

66

101

81

​

​

​

​

​

​

​

422

Susan Lindgren

81

69

80

60

75

61

​

​

​

​

​

​

​

426

Park Immersion

96

96

92

88

86

85

​

​

​

​

​

​

​

543

Elem Total

330

295

327

293

361

310

-

-

-

-

-

-

-

1,916

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

SLP Middle

​

​

​

​

​

​

311

329

320

​

​

​

​

960

SLP Senior

​

​

​

​

​

​

​

​

​

353

356

379

389

1,477

Secondary Total

-

-

-

-

-

-

311

329

320

353

356

379

389

2,437

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

K-12 Total

330

295

327

293

361

310

311

329

320

353

356

379

389

4,353

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FY 2024: preliminary enrollment

September 26, 2023 School Board Meeting

9/19/2023 - current enrollment

FY 2024 (Fall 2023) Actual Enrollment

School

K

1

2

3

4

5

6

7

8

9

10

11

12

K-12

Aquila

81

73

91

76

93

87

​

​

​

​

​

​

​

501

Peter Hobart

79

52

69

67

96

88

​

​

​

​

​

​

​

451

Susan Lindgren

68

67

89

58

70

60

​

​

​

​

​

​

​

412

Park Immersion

90

91

94

84

82

86

​

​

​

​

​

​

​

527

Elem Total

318

283

343

285

341

321

-

-

-

-

-

-

-

1,891

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

SLP Middle

​

​

​

​

​

​

324

329

322

​

​

​

​

975

SLP Senior

​

​

​

​

​

​

​

​

​

334

364

384

389

1,471

Secondary Total

-

-

-

-

-

-

324

329

322

334

364

384

389

2,446

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

K-12 Total

318

283

343

285

341

321

324

329

322

334

364

384

389

4,337

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FY 2024: preliminary enrollment

September 26, 2023 School Board Meeting

9/19/2023 - current enrollment

FY 2024 (Fall 2023) Actual vs. Projection

School

K

1

2

3

4

5

6

7

8

9

10

11

12

K-12

Aquila

(14)

(8)

3

(3)

(6)

4

​

​

​

​

​

​

​

(24)

Peter Hobart

21

3

2

1

(5)

7

​

​

​

​

​

​

​

29

Susan Lindgren

(13)

(2)

9

(2)

(5)

(1)

​

​

​

​

​

​

​

(14)

Park Spanish Immersion

(6)

(5)

2

(4)

(4)

1

​

​

​

​

​

​

​

(16)

Elem Total

(12)

(12)

16

(8)

(20)

11

-

-

-

-

-

-

-

(25)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

SLP Middle

​

​

​

​

​

​

13

-

2

-

​

​

​

15

SLP Senior

​

​

​

​

​

​

​

​

​

(19)

8

5

-

(6)

Secondary Total

-

-

-

-

-

-

13

-

2

(19)

8

5

-

9

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

K-12 Total

(12)

(12)

16

(8)

(20)

11

13

-

2

(19)

8

5

-

(16)

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Fiscal Year 2025: Preliminary Tax Levy

September 26, 2023 School Board Meeting

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Overview of Preliminary Levy Payable in 2024

Total = $43,799,176; Increase from Pay 2023 of $695,082 or 1.6%

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September 26, 2023 School Board Meeting

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Pay 2024 Tax Levy Overview

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Preliminary Pay 2024 Levy

Final Pay

2023 Levy

Change in Dollar Levy

General

$ 23,591,750

$ 22,891,074

$700,676

3.1%

Community Service

$ 1,036,235

$1,057,458

$ (21,223)

(2.0%)

Debt Service

$ 19,171,190

$ 19,155,562

$ 15,629

0.1%

Total

$ 43,799,176

$ 43,104,094

$ 695,082

1.6%

September 26, 2023 School Board Meeting

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Pay 2024 Tax Levy – General Fund

September 26, 2023 School Board Meeting

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Pay 2024 Tax Levy – Community Service Fund

September 26, 2023 School Board Meeting

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Pay 2024 Tax Levy – Debt Service Fund

September 26, 2023 School Board Meeting

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Preliminary – Declining Pay 2024 Tax Rate

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Total Levy +1.6%

Property Values

+2% to +3%

Decreasing Tax Rate

Divided by

Result

September 26, 2023 School Board Meeting

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Pay 2024 Tax Levy Next Steps

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September 26, 2023

Board approves preliminary levy at maximum

By October 2, 2023

Preliminary levy due to Hennepin County/MDE

By November 24, 2023

Parcel specific notices mailed by Hennepin County

December 12, 2023

Truth in taxation meeting and certify final levy

September 26, 2023 School Board Meeting

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Pay 2024 Tax Levy Overview

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Preliminary Pay 2024 Levy

Final Pay

2023 Levy

Change in Dollar Levy

General

$ 23,591,750

$ 22,891,074

$700,676

3.1%

Community Service

$ 1,036,235

$1,057,458

$ (21,223)

(2.0%)

Debt Service

$ 19,171,190

$ 19,155,562

$ 15,629

0.1%

Total

$ 43,799,176

$ 43,104,094

$ 695,082

1.6%

September 26, 2023 School Board Meeting