School Budget Includes 57-Cent Tax Rate Decrease
ANKENY, Iowa (April 6, 2018) - Ankeny Community School District’s fiscal year (FY) 2019 budget was approved by the Board of Education at their April 2 meeting, following a public hearing for budget adoption. The budget includes a 57-cent reduction in the current school tax rate. The budget levy of $17.95 per $1,000 taxable valuation is anticipated to decrease taxes for a home owner $11.46 per month for a house valued at $250,000. For the eighth consecutive year, the school’s portion of the tax rate has decreased, bringing the total reduction to $4.40. School districts are required by law to submit their budgets to the state by April 15.
“Ankeny Schools is committed to excellence, part of that commitment is our continued financial responsibility to Ankeny taxpayers,” said Dr. Bruce A. Kimpston, Superintendent.
Several key highlights of the district’s budget include:
- Student enrollment growth continues to be a primary driving force in the district’s budget. Ankeny’s 2017-2018 certified student enrollment of 11,548 represents a growth of 355 students in one year. Ankeny is the sixth largest district in the state.
- The legislature has set 1.0% as the FY2019 Supplemental State Aid (or allowable growth) increase. The Ankeny cost per student for current FY2019 budget is $6,736.
- Student programming needs are being served without requiring budget cuts to the classroom.
- The school district is one of nine taxing entities in the Ankeny community. The school district’s current tax rate represents 44.2% of the total property tax bill, down from more than 53% several years ago.
- The district can legally request $5,909,673 in cash reserve for the FY2019 budget, it is requesting the full amount, which is significantly down from the previous year of $9,394,818.
- At the end of Fiscal Year 2017, the district’s Financial Solvency Ratio was 14.6%.
- The FY2018 debt rate of $2.37 placed Ankeny 62nd in the state of 333 school districts for debt rate. $4.05 is the statutory limit on debt for Iowa schools.