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 - 2022        

Education Fund Expense Budget      Operations Fund Expense Budget  
         
 Salaries 68.58 %   Salaries 35.31 %
 Fringe Benefits 25.72 %   Fringe Benefits 19.02 %
 Supplies   4.31 %   Supplies and Equipment 10.66 %
 Services   1.28 %   Services 20.88 %
 Miscellaneous     .11 %   Utilities 13.00 %
      Miscellaneous   1.03 %


Education Fund   $51,408,441
Operations Fund   $17,337,596
Debt Service Fund
  $16,274,669
Referendum Debt Fund
  $2,650,000

 

NACS 2023 assessed valuation: $3,374,401,079

NACS 2023 tax rate is as follows: 

Operations Fund
   $ .3674
Debt Service Fund
   $ .4416
Referendum Debt Fund
   $ .0707

Total tax rate

 

 $  .8797