The Belmont Community School District held their budget hearing, annual school board meeting and a special meeting of the school board consecutively on Monday night, Oct. 28 in order to present the 2013-2014 budget to the public and then officially approve it.
Due to the passing of Act 46, which was signed into law on Oct. 20 and affected the amount of equalization aid that the school received, there were some changes to the budget.
The school board approved the adoption of a total tax levy of 1,529,709 for the 2013-2014 school year with $1,187,959 for the general fund and $341,750 for debt service. The 2013-2014 budget was also formally approved by the board.
Before the changes that came about as a result of Act 46 the Belmont School District was set to receive equalization aid in the amount of $1,1916,890 and the tax levy amount was set to be $1,545,395 with a mill rate of 0.010555.
Now however, after the reevaluated general aid was certified by the Wisconsin Department of Public Instruction on Oct. 23, Belmont School District will be receiving $1,932,578 in equalization aid causing the total tax levy to go down to $1,529,709, a decrease of $15,686. The mill rate also dropped to 0.010447.
Two members of the public were present during the annual meeting.