Decorah School Board approves 2011-12 budget

The Decorah Community School Board approved the 2011-12 budget at their regular April meeting on Monday night. The $48,788,188 budget includes $12 million in high school renovation expenditures and over $3 million in debt service.  The only tax increase in the budget is related to the voter approved bonds for the high school renovation, which will bring the tax rate per $1,000 assessed valuation to $16.73514. This increase is about 92 cents per $1,000 and less than the $1.00 that was projected because of lower than estimated bond rates. That low interest rate will also result in a shortened payment schedule by one year.

No public comments were received regarding the budget. The budget was based on zero allowable growth. In the unlikely event that the legislature approves any allowable growth, there will not be any additional tax levy and cash reserves would be utilized.