What is inside millage? It refers to property tax by local governments without voter approval. Called "inside" because it falls within the statutory millage limit and doesn't require taxpayer approval. Often used for essential services and operations of local government.
The Ohio Senate recently passed House Bill 33, which determines the biennium budget. The Fair School Funding Plan, which for Miamisburg, creates a slight increase in revenue from the state. This change does not significantly impact the school district's Five Year Forecast.
Ohio House Bill 1, being considered by the Ohio House of Representatives, would make changes to the state's tax code. School districts where property taxes account for a significant amount of revenue, the proposed changes have the potential to create challenges to our funding.
Did you know? The school district’s fiscal year begins on July 1 and runs through June 30 of the following year. For example, the fiscal year 2024 runs from July 1, 2023, through June 30, 2024.
Did you know? The Assessed Value of your property is a percentage that determines how much tax you pay.
Homeowners are taxed on 35% of the true market value of their property.
Did you know? The most significant budgeted fund is a school district's General Fund.
Monies in a District’s General Fund can be used to cover employee salaries and benefits, materials and services, and the overall operation and maintenance of district facilities.
Did you know? The budget of the Miamisburg School District follows Ohio law and uses cash receipts, disbursements, and encumbrances to account for specific transactions.
In other words, a school district cannot budget more money in expenses than anticipated receipts.
Did you know?
The amount of money received from the state per student is based on the district’s ADM - Average daily membership or the number of students enrolled who are either in attendance or have an excused absence in the first full weeks of October and February.
Did you know? News from the Ohio House indicates major changes to the biennium budget for schools.
Those Changes include an update on calculations used to determine the per-student base cost and a minimum teacher salary increase to $40,000.
Hello, this is our new Treasurer's office twitter. Please follow us for updates. Go Vikings!
What is Title I?
Title I Part A is a federal grant program that provides financial assistance to schools with high percentages of children from low-income families.
How do schools qualify for School-wide Title I Status?
Completion of a five step process, including verification that at least 40 percent of the student population is from low-income families (living below the poverty level), which is submitted to the Ohio Department of Education for approval.
@burgschools utilizes the district's Permanent Improvement (PI) fund for items that have a useful life of more than 5 years. This includes roofing projects, paving projects, and even curriculum purchases. #MCSFinanceFriday #FinanceAndFacilities
Finance Fact: @burgschools utilizes our permanent improvement fund for building maintenance and curriculum purchases. PI funds can be utilized for expenditures that have a useful life of 5 years or more. #MCSFinanceFriday #FinanceAndFacilities
Finance Fact: a mill is defined as one-tenth of a cent or a milli-dollar. Learn more about @burgschools future property valuation projections by visiting the Treasurer's webpage containing the Five Year Forecast: shorturl.at/djADZ
#MCSFinanceFriday #FinanceAndFacilities
HB920 affects school districts and their ability to capture growth when property values increase. Check out the @burgschools Treasurer webpage to learn more about this legislation passed in the 1970s. shorturl.at/inxU0
#MCSFinanceFriday
@burgschools completes Five Year Forecasts in November and May of each year. These forecasts include 3 years of historical years as well as 5 years of projected expenses and revenues. Check out the Treasurer's webpage to see the most current forecast. #MCSFinanceFriday
@burgschools utilizes automated budget reports to ensure all department leaders and administrators have the most up-to-date financial information available. #MCSFinanceFriday #FinanceAndFacilities
@burgschools uses live birth data from the department of health as well as real time data from Ohio Department of Education to make operational decisions for the district. This allows MCS to use data to look forward and plan for our future Vikings #MCSFinanceFriday
Happy Thanksgiving!
#Thankful
@burgschools is proud to partner with @BonefishSystems to protect public funds. This partnership allows us to vet vendors and payments using fraud detecting analytics. #MCSFinanceFridays #FinanceAndFacilities
