Transparency in Action: Janesville CSD Releases Financial Plan for Upcoming Year
/Janesville CSD is committed to transparency and accountability, and as part of that commitment, we are pleased to release our financial plan for the upcoming year. This breakdown provides insight into enrollment, income vs expense, net cash position, and property tax breakdown.
In the coming days you will receive a notice in the mail regarding the school portion of your property taxes for FY26. It will be titled “Notice of Public Hearing - Proposed Property Tax Levy.” This is a new requirement from the state. In this BLOG post, I would like to provide an overview of the financial picture of JCSD.
School finance is a topic that is often misunderstood. I would like to provide our community with the basics of how we are doing, and invite feedback and questions from the public. The information provided is intended to be the “big rocks”.
Enrollment
Student enrollment is the single most important factor in predicting fiscal health. Janesville CSD has been incredibly fortunate as our enrollment has increased tremendously over the past 15 years, while many similar communities have not. There are two enrollment numbers reported to the public.
Certified Enrollment - The total number of resident students in the district.
Served Enrollment - The number of students who actually attend in the district (bodies in chairs).
Enrollment numbers do not include most preschool students. Preschool students who are 4 are counted as .5 for the purpose of enrollment. Preschool students who are 3 are not reflected in this chart.
Income vs. Expense
While enrollment is the single greatest predictor of financial health of a district, how we spend the money is second. Generally speaking, JCSD receives $7,866 for each student we educate. There are exceptions for special education, preschool, dual enrollment etc. We also receive general fund dollars through the Instructional support levy, miscellaneous income (interest earned, OE in etc.), special education weighting and more. Here is how we have done managing our expenditures against our income:
There is one unseen obstacle. Schools do not receive on-time funding. Income comes a year after expenses. This can create challenges, especially when unforeseen circumstances arise.
Net Cash Position
This unspent cash creates a district surplus. It is important for districts to have some surplus dollars in case of years of declining enrollment, or unforeseen fiscal challenges.
We almost certainly will “overspend” this year, but that was projected last year when our enrollment was down, placing us on the budget guarantee, and will level off this fiscal year.
There are a few more fiscal metrics that can be important to people. Our solvency ratio is 25%, for example, but that is a result of our fiscal management. We have $3,569,885 in unrealized spending authority, but have no reason to levy that much cash through a cash reserve levy.
Local Property Tax Breakdown
I will close with the property tax ask on behalf of the school district. It breaks down like this:
General Fund Levy Formula Driven $8.01
Instructional Support Levy Board Approved $0.25
Physical Plant/Equipment Levy Board Approved $0.33
Debt Service/GO Bond Repayment Voter Approved $3.27
Management Board Approved $1.69
The document that you received in the mail requires us to report the highest the property tax rate could be, which is $14.13. The actual rate will be closer to $13.55 (pending board approval). Below you will find a history of the school portion of your property taxes over the past several years.
If you ever have any questions, or would like more information of the financial picture of the school district, please do not hesitate to contact me at bj.meaney@janesvilleschools.net.