To maintain educational excellence that is rich in academic, arts and athletic opportunities, we strive to provide our residents with an exceptional school system, that takes pride in Educating for Success and Inspiring Excellence. However, the cost to maintain our educational commitment to excellence is a constant challenge.
When we started with our budget preparations for the 2020-21 school year in the fall, the Parkland School District revenues continued to trend in a positive direction. The annual audit of our 2018-2019 school year outlined a positive financial picture and reinforced the administration’s belief in the positive trends we were projecting. Positive trends in revenue included an increase in the assessment value of real estate which translates into a higher value per mill.
The School Board and the Administration made the conscious decision in January of 2020 to operate within the state-assigned Act 1 Index, which would have allowed us to raise taxes by a maximum of 2.6% for the 2020-21 fiscal year. However, since the COVID-19 outbreak, our budget preparation took a drastic but necessary turn. Because of the economic environment and the negative impact this virus is having upon family income and businesses in the Parkland School District, we made the difficult decision to keep taxes steady in our community. To do this, we had to appropriate approximately $8.7 Million of fund balance to reach the goal of NO INCREASED TAX RATE for the Parkland taxpayers to balance the 2020-2021 Parkland General Fund Budget. Appropriated fund balance was the only way we could achieve a 0% tax increase as the 2020-21 budget of $192,387,354 represents a 3.17% increase over 2019-20 expenditures.
The 2020-21 school year budget represents a comprehensive plan and includes the most essential educational needs of our students while considering our current economic climate and the ability and willingness of our community to support a quality, comprehensive educational program. Enclosed is an overview of the final budget for your point of reference. Please feel free to contact me with any questions.
2020-2021 Proposed Final Budget
The Proposed General Fund Budget for the 2020 – 2021 school year in the amount of $194,164,262 was approved by the Parkland Board of School Directors during the regularly scheduled Board meeting on Tuesday, May 19, 2020. The Proposed Budget represents an increase of 0.00 mills for a total mill rate of 15.71. As per legal requirements, this document must remain on public display for 30 days until final adoption at the June 23, 2020 Board meeting. Please address any questions or comments to John Vignone, Director of Business Administration, at firstname.lastname@example.org.