Finance

Public school revenues are derived directly or indirectly from state and local taxes. The state support for the education fund and part of the operations fund is generated from sales tax and income tax. Local taxes received by schools are from the collection of property taxes and auto license excise taxes. 

Four funds divide the annual budget. Data is reviewed and presented at the annual budget hearing in September. Each fund is described briefly below:

EDUCATION FUND:  The largest of the four funds which finances the instruction and instructional support of the schools including personnel salaries, fringe benefits, and supplies.

OPERATIONS FUND:  This fund finances the operations of the schools including salaries, fringe benefits, utilities, building maintenance, capital improvements, transportation, and bus purchases.

DEBT SERVICE FUND:  This fund is used primarily for financing buildings through lease rental agreements and bond obligations.

REFERENDUM DEBT SERVICE FUND:  This fund is used primarily for financing buildings through lease rental agreements and bond obligations that have been approved through the referendum process.

The Budget

EXPENDITURES - 2020        

Education Fund Expense Budget      Operations Fund Expense Budget  
         
 Salaries 69.93 %     Salaries 35.27 %
 Fringe Benefits 24.55 %   Fringe Benefits 17.41 %
 Supplies   3.95 %   Supplies and Equipment 18.74 %
 Services   1.44 %   Services 16.53 %
 Miscellaneous     .13 %   Utilities 11.41 %
      Miscellaneous     .64 %


Education Fund   $46,072,397
Operations Fund   $15,634,852
Debt Service Fund
  $14,164,866
Referendum Debt Fund
  $2,450,000

 

NACS 2021 assessed valuation: $2,664,905,770

NACS 2021 tax rate is as follows: 

Operations Fund
   $ .4006
Debt Service Fund
   $ .5386
Referendum Debt Fund
   $ .0920
Total tax rate
    $1.0312