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SCHOOL
DATA & REPORTS:
EXCESS SPENDING THRESHOLD
(Updated 10/16/07)
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| Under Act 68, a district with an education spending amount per equalized pupil (less approved construction costs) greater than the excess spending threshold incurs an additional tax for the amount over the threshold. The threshold amount is based on statewide data from the prior year. |
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OVERVIEW
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With the passage of Act 68 in 2003, the Vermont Legislature included an excess spending provision to encourage districts with high per pupil costs to examine why costs were so high. This provision set a threshold over which any spending was deemed to be in excess. Districts spending over the annual threshold are taxed a second time on the excess spending amount. The threshold amount is calculated annually using statewide data from the prior fiscal year, multiplied by a given percentage.
The prior year data used for the threshold are the totals for statewide education spending, equalized pupils and approved construction costs. These data are used to calculate the statewide average education spending number per equalized pupil, less approved construction costs. Approved construction costs also include eligible principal and interest payments a district currently pays. Approved costs are considered to be costs for projects eligible for state construction aid as defined in chapter 123 of Title 16.
A statutory percentage of 125% is used to increase the prior year education spending per equalized pupil (less approved construction costs) to determine the threshold amount. Act 68 provides a transition period, however, with the applicable percentage being 135% in FY 2005, 130% in FY 2006 and 125% in FY 2007 and thereafter.
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FY 2009 EXCESS SPENDING THRESHOLD (Added 10/16/07)
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FY 2008 statewide education spending per equalized pupil less approved construction costs |
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$10,629.71 |
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Percentage for FY 2009 |
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125% |
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Excess Spending Threshold |
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$10,629.71 x 125% |
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Excess Spending Threshold FY 2009 |
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$13,287 (rounded to zero decimal places) |
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FY 2008 EXCESS SPENDING THRESHOLD
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FY 2007 statewide education spending per equalized pupil less approved construction costs |
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$10,075.34 |
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Percentage for FY 2008 |
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125% |
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Excess Spending Threshold |
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$10,075.34 x 125% |
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Excess Spending Threshold FY 2008 |
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$12,594 (rounded to zero decimal places) |
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FY 2007 EXCESS SPENDING THRESHOLD
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FY 2006 statewide education spending per equalized pupil less approved construction costs |
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$9,382.21 |
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Percentage for FY 2007 |
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125% |
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Excess Spending Threshold |
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$9,382.21 x 125% |
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Excess Spending Threshold FY 2007 |
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$11,728 (rounded to zero decimal places) |
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FY 2006 EXCESS SPENDING THRESHOLD
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FY 2005 statewide education spending per equalized pupil less approved construction costs |
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$8,728.64 |
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Percentage for FY 2006 |
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130% |
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Excess Spending
Threshold |
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$8,728.64 x 130% |
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Excess Spending
Threshold
FY 2006 |
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$11,347 (rounded to zero decimal places) |
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FY 2005 EXCESS SPENDING THRESHOLD
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FY 2004 statewide education spending per equalized pupil less approved construction costs |
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$8,066.05 |
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Percentage for FY 2005 |
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135% |
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Excess Spending Threshold |
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$8,066.05 x 130% |
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Excess Spending Threshold
FY 2005 |
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$10,889 (rounded to zero decimal places) |
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