FINANCIAL INFORMATION

This bond will have no impact on the tax rate. Due to the recently approved school finance bill from legislature, the district’s M&O tax rate has decreased by 10 cents. Additionally, the district has reduced the I&S rate by 2 cents, resulting in an overall tax reduction of 12 cents for Brock residents. 

Resources

Click here for more information regarding our budget, finances, and tax rate. As always, feel free to contact us if we can clarify any questions you may have regarding taxes.

What is an M&O tax rate versus an I&S tax rate? 

A school district's budget is generated from three sources: federal, state, and local funding. Local funding from property taxes makes up the largest source for school districts.  

A school district's total tax rate is primarily funded by local property taxes and made up of two parts: the maintenance and operations (M&O) rate and the interest and sinking (I&S) rate. Each has a designated purpose and budget. 

The M&O budget is used for daily operations of the district, including utilities, salaries,

furniture, supplies, food, gas, and regular maintenance items.

The I&S budget is used to repay debt for capital improvements through voter-approved bonds. These improvements include new construction, renovations, HVAC and roofing replacements, land purchase, furniture, and technology.

Bond elections only affect the I&S tax rate. Funds from a bond CANNOT be used as part of the M&O budget or to increase salaries. 

EARLY VOTING is October 21 - November 1, 2019  | 
ELECTION DAY is November 5, 2019

Register to vote by October 7, 2019.

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