Sunday, May 5, 2013

Chapter 70 info sent from Jeff B

      
As town meeting gets closer, it is time for taxpayers to arm themselves with information that will help them in voting on articles they will asked to decide. MGL chapter 70 says if net school spending is not met, a town's tax rate may not be set by DOR and loss of state aid may be possible. Check out the information below from DESE and see if that net spending was met last year.


 4/12/2013

       Massachusetts Department of Elementary and Secondary Education
        Office of School Finance
        Chapter 70 Net School Spending Compliance, Budgeted FY13
720 NARRAGANSETT
School Committee
City/Town
Total
1
Administration (1000)
689,377
0
689,377
2
Instruction (2000)
8,948,783
0
8,948,783
3
Attendance-Health (3100, 3200)
272,110
0
272,110
4
Food Services (3400)
0
0
 0
5
Athletics/Student Activities/Security(3500, 3600)
197,820
0
197,820
6
Maintenance (4000)
     1,504,587
0
1,504,587
7
Employer Retirement Contributions (5100)
403,109
0
403,109
8
Insurance (5200)
1,768,385
0
1,768,385
9
Retired Employee Insurance (5250)
          537,637
0
537,637
10
Rentals (5300)
   74,616
0
74,616
11
Short Term Interest (5400)
           8,000
0
8,000
12
Tuition (9000)
2,074,229
0
2,074,229
13
FY13 Budgeted School Spending (lines 1 through 12)
16,478,653
0
16,478,653
14
FY13 Budgeted School Revenues
14a) FY13 Budgeted School Revenues
   1,263,633
0
1,263,633
14b) FY13 Charter Reimb (local districts)
         0
0
0
14c) Subtotal, NSS Revenues (36a+36b)
     1,263,633
0
1,263,633
15
FY13 Net School Spending (13 minus 14)
15,215,020
16
FY13 Chapter 70 Required Net School Spending
14,385,505
17
Carryover from FY12
0
18
Total FY13 Requirement (16 + 17)
14,385,505
19
Shortfall in Budgeted FY13 Net School Spending (18 - 15)
0

20
Carryover/Penalty Calculation, Percent Unexpended (19 / 16)
 0.00%



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