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%