Understanding Revenue Limits, School Aids, and Property Tax Levies

WASBO Fall Conference 6 October 2022 Revenue Limits Aid = Levy: Understanding Your Worksheets Bob Soldner, Assistant Director School Financial Services Team Ben Kopitzke, Finance Consultant School Financial Services Team

Agenda Recap Line-by-line breakdown Exemptions Over/underlevy Timeline Questions 2/28

Revenue Limits, School Aids, and Property Tax Levies State Aid (General + High Poverty + Computer + Exempt Personal Property) Revenue Limit Property TaxLevy 3/28

What is within Revenue Limits? Regulates Revenues for Funds 10, 38 and 41 General Fund (10) Property Tax Levy General State Aid Computer Aid Non-Referendum Debt Service Fund (38) Property Tax Levy Capital Projects Fund (41) Property Tax Levy 4/28

What is outside the Revenue Limit? Categorical Aids (Special Education, Per Pupil Aid, Library, Transportation, SAGE/AGR, Sparsity, etc.) State and Federal Grants Student Fees, Gate Receipts, and Donations Tax Levy for Referendum Approved Debt Service Fund (39) Tax Levy for Community Service Fund (80) 5/28

DISTRICT: 2022-2023 Revenue Limit Worksheet 1. 2022-23 Base Revenue (Funds 10, 38, 41) 2. Base Sept Membership Avg (2019+.4ss, 2020+.4ss, 2021+.4ss)/3 40,256,461 3. 2022-23 Base Revenue Per Member (Ln 1 / Ln2) 1,443,569 4. 2022-23 Per Member Change (A+B) 1,754,226 2022-23 Low Revenue Ceiling per s.121.905(1): 1,327,105 A. Allowed Per-Member Change for 22-23 315,993,263 B. Low Rev Incr ((Low Rev Ceiling-(3+4A))-4C) NOT<0 3,667,783 C. Value of the CCDEB (22-23 DPI Computed-CCDEB Dists only) 5,000,000 5. 2022-23 Maximum Revenue / Member (Ln 3 + Ln 4) 0 6. Current Membership Avg (2020+.4ss, 2021+.4ss, 2022+.4ss)/3 12,339,595 7. 2022-23 Rev Limit, No Exemptions (Ln7A + Ln 7B) 357,102,812 A. Max Rev/Memb x Cur Memb Avg (Ln 5 x Ln 6) B. Hold Harmless Non-Recurring Exemption 8. Total 2022-23 Recurring Exemptions (A+B+C+D+E) A. Prior Year Carryover B. Transfer of Service C. Transfer of Territory/Other Reorg (if negative, include sign) D. Federal Impact Aid Loss (2020-21 to 2021-22) E. Recurring Referenda to Exceed (If 2022-23 is first year) 9. 2022-23 Limit with Recurring Exemptions (Ln 7 + Ln 8) 10. Total 2022-23 Non-Recurring Exemptions (A+B+C+D+E+F+G+H+I) 26,732 A. Non-Recurring Referenda to Exceed 2022-23 Limit B. Declining Enrollment Exemption for 2022-23 (from left) C. Energy Efficiency Net Exemption for 2022-23 (see pg 4 for details) D. Adjustment for Refunded or Rescinded Taxes, 2022-23 E. Prior Year Open Enrollment (uncounted pupil[s]) F. Reduction for Ineligible Fund 80 Expenditures (enter as negative) G. Other Adjustments (Fund 39 Bal Transfer) H. WPCP and RPCP Private School Voucher Aid Deduction I. SNSP Private School Voucher Aid Deduction 11. 2022-23 Revenue Limit With All Exemptions (Ln 9 + Ln 10) 0 12. Total Aid to be Used in Computation (12A + 12B + 12C + 12D) A. 2022-23 JULY 1 ESTIMATE OF GENERAL AID B. State Aid to High Poverty Districts (not all districts) C. State Aid for Exempt Computers (Source 691) D. State Aid for Exempt Personal Property (Source 691) average used for Per Pupil Aid does not include "New ICS - Independent Charter Schools FTE." The PPA average appears below after data is entered for 2022: (from left) (from left) (with cents) 357,102,812 26,732 13,358.63 DATA AS OF 8/19/2022, 8:45 AM Line 1 Amount May Not Exceed (Line 11 - (Line 7B+Line 10)) of Final 21-22 Revenue Limit 2021-22 General Aid Certification (21-22 Line 12A, src 621) 2021-22 Hi Pov Aid (21-22 Line 12B, Src 628) 2021-22 Computer Aid Received (21-22 Line 12C, Src 691) 2021-22 Aid for Exempt Personal Property (21-22 Line 12D, Src 691) 2021-22 Fnd 10 Levy Cert (21-22 Line 14A, Levy 10 Src 211) 2021-22 Fnd 38 Levy Cert (21-22 Line 14B, Levy 38 Src 211) 2021-22 Fnd 41 Levy Cert (21-22 Line 14C, Levy 41 Src 211) 2021-22 Aid Penalty for Over Levy (21-22 FINAL Rev Lim, June 2022) 2021-22 Total Levy for All Levied Non-Recurring Exemptions* NET 2022-23 Base Revenue Built from 2021-22 Data (Line 1) + + + + + + + - - = 0.00 10,000.00 0.00 0.00 0.00 13,358.63 (from left) (rounded) 0 0 0 0 *For the Non-Recurring Exemptions Levy Amount, enter actual amount for which district levied; (7B Hold Harmless, Non- Recurring Referenda, Declining Enrollment, Energy Efficiency Exemption, Refunded/Rescinded Taxes, Prior Year Open Enrollment Pupils, Reduction for Ineligible Fund 80 Expends, Other Adjustments, Private School Voucher Aid Deduction, Private School Special Needs Voucher Aid Deduction) (rounded) 9,000,000 0 0 0 0 9,000,000 September & Summer FTE Membership Averages Count Ch. 220 Inter-District Resident Transfer Pupils @ 75%. 9,000,000 203,736 Line 2: Base Avg:((19+.4ss)+(20+.4ss)+(21+.4ss)) / 3 = 0 2019 559 224 26,979 236.10 2020 208 83 26,188 299.20 2021 412 165 25,678 345.40 Summer FTE: % (40,40,40) Sept FTE: New ICS - Independent Charter Schools FTE 0 203,736 0 0 0 0 0 Total FTE 27,439 26,570 26,188 9,203,736 37,276,437 Line 6: Curr Avg:((20+.4ss)+(21+.4ss)+(22+.4ss)) / 3 = 34,607,820 1,443,569 2020 208.00 2021 412.00 165 25,678.00 345.40 2022 Summer FTE: % (40,40,40) Sept FTE: New ICS - Independent Charter Schools FTE 0 0 0 0 The Line 6 "Current Average" shown above is used for Revenue Limits. The 83 0 26,188.00 299.20 1,225,048 DISTRICTS MUST USE THE OCT 15 AID CERT WHEN SETTING THE DISTRICT LEVY. 13. Allowable Limited Revenue: (Line 11 - Line 12) (10, 38, 41 Levies) 14. Total Limited Revenue To Be Used (A+B+C) Entries Required Below: Enter amnts needed by purpose and fund: A. Gen Operations: Fnd 10 Src 211 B. Non-Referendum Debt (inside limit) Fund 38 Src 211 C. Capital Exp, Annual Meeting Approved: Fund 41 Src 211 15. Total Revenue from Other Levies (A+B+C+D) A. Referendum Apprvd Debt (Fund 39 Debt-Src 211) B. Community Services (Fund 80 Src 211) C. Prior Year Levy Chargeback for Uncollectible Taxes (Src 212) D. Other Levy Revenue - Milwaukee & Kenosha Only 0 16. Total Fall, 2022 REPORTED All Fund Tax Levy (14A + 14B + 14C + 15) Line 16 is the total levy to be apportioned in the PI-401. 0 Total FTE 26,570.00 26,188 0 Not >line 13 0 0 (Proposed Fund 10) 0 (to Budget Rpt) 0 (to Budget Rpt) Line 10B: Declining Enrollment Exemption = Average FTE Loss (Line 2 - Line 6, if > 0) X 1.00 0 = 0 0 0 0 X (Line 5, Maximum 2022-2023 Revenue per Memb) = Non-Recurring Exemption Amount: (to Budget Rpt) (to Budget Rpt) (to Budget Rpt) Fall 2022 Property Values 2022 TIF-Out Tax Apportionment Equalized Valuation 0 Levy Rate = #DIV/0! CELL COLOR KEY: Worksheet is available at: http://dpi.wi.gov/sfs/limits/worksheets/revenue Auto-Calc DPI Data District-Entered Districts are responsible for the integrity of their revenue limit data & computation. Data appearing here reflects information submitted to DPI and is unaudited. 6/28 Calculation Revised: 8/5/2020. Rounding in Total FTE buckets.

DISTRICT: 2021-2022 Revenue Limit Worksheet DATA AS OF 10/15/2021, 12:00 PM 1. 2021-22 Base Revenue (Funds 10, 38, 41) 2. Base Sept Membership Avg (2018+.4ss, 2019+.4ss, 2020+.4ss)/3 38,526,919 3. 2021-22 Base Revenue Per Member (Ln 1 / Ln2) 1,749,437 4. 2021-22 Per Member Change (A+B) 0 2021-22 Low Revenue Ceiling per s.121.905(1): 726,682 A. Allowed Per-Member Change for 21-22 311,407,617 B. Low Rev Incr ((Low Rev Ceiling-(3+4A))-4C) NOT<0 4,433,030 C. Value of the CCDEB (21-22 DPI Computed-CCDEB Dists only) 5,000,000 5. 2021-22 Maximum Revenue / Member (Ln 3 + Ln 4) 0 6. Current Membership Avg (2019+.4ss, 2020+.4ss, 2021+.4ss)/3 7,295,189 7. 2021-22 Rev Limit, No Exemptions (Ln7A + Ln 7B) 354,548,496 A. Max Rev/Memb x Cur Memb Avg (Ln 5 x Ln 6) B. Hold Harmless Non-Recurring Exemption 8. Total 2021-22 Recurring Exemptions (A+B+C+D+E) A. Prior Year Carryover B. Transfer of Service C. Transfer of Territory/Other Reorg (if negative, include sign) D. Federal Impact Aid Loss (2019-20 to 2020-21) E. Recurring Referenda to Exceed (If 2021-22 is first year) 9. 2021-22 Limit with Recurring Exemptions (Ln 7 + Ln 8) 10. Total 2021-22 Non-Recurring Exemptions (A+B+C+D+E+F+G+H+I) 27,149 A. Non-Recurring Referenda to Exceed 2021-22 Limit B. Declining Enrollment Exemption for 2021-22 (from left) C. Energy Efficiency Net Exemption for 2021-22 (see pg 4 for details) D. Adjustment for Refunded or Rescinded Taxes, 2021-22 E. Prior Year Open Enrollment (uncounted pupil[s]) F. Reduction for Ineligible Fund 80 Expenditures (enter as negative) G. Other Adjustments (Fund 39 Bal Transfer) H. WPCP and RPCP Private School Voucher Aid Deduction I. SNSP Private School Voucher Aid Deduction 11. 2021-22 Revenue Limit With All Exemptions (Ln 9 + Ln 10) 26,744 12. Total Aid to be Used in Computation (12A + 12B + 12C + 12D) A. 2021-22 OCTOBER 15 CERT OF GENERAL AID B. State Aid to High Poverty Districts (not all districts) C. State Aid for Exempt Computers (Source 691) D. State Aid for Exempt Personal Property (Source 691) average used for Per Pupil Aid does not include "New ICS - Independent Charter Schools FTE." The PPA average appears below after data is entered for 2021: (from left) (from left) (with cents) 354,548,496 27,149 13,059.36 Line 1 Amount May Not Exceed (Line 11 - (Line 7B+Line 10)) of Final 20-21 Revenue Limit 2020-21 General Aid Certification (20-21 Line 12A, src 621) 2020-21 Computer Aid Received (20-21 Line 12C, Src 691) 2020-21 Hi Pov Aid (20-21 Line 12B, Src 628) 2020-21 Aid for Exempt Personal Property (20-21 Line 12D, Src 691) 2020-21 Fnd 10 Levy Cert (20-21 Line 14A, Levy 10 Src 211) 2020-21 Fnd 38 Levy Cert (20-21 Line 14B, Levy 38 Src 211) 2020-21 Fnd 41 Levy Cert (20-21 Line 14C, Levy 41 Src 211) 2020-21 Aid Penalty for Over Levy (20-21 FINAL Rev Lim, May 2021) 2020-21 Total Levy for All Levied Non-Recurring Exemptions* NET 2021-22 Base Revenue Built from 2020-21 Data (Line 1) + + + + + + + - - = 0.00 10,000.00 0.00 0.00 0.00 13,059.36 26,744 354,548,496 (from left) (rounded) 349,259,524 5,288,972 (rounded) *For the Non-Recurring Exemptions Levy Amount, enter actual amount for which district levied; (7B Hold Harmless, Non- Recurring Referenda, Declining Enrollment, Energy Efficiency Exemption, Refunded/Rescinded Taxes, Prior Year Open Enrollment Pupils, Reduction for Ineligible Fund 80 Expends, Other Adjustments, Private School Voucher Aid Deduction, Private School Special Needs Voucher Aid Deduction) 8,000,000 0 0 0 0 8,000,000 September & Summer FTE Membership Averages Count Ch. 220 Inter-District Resident Transfer Pupils @ 75%. 362,548,496 9,470,396 Line 2: Base Avg:((18+.4ss)+(19+.4ss)+(20+.4ss)) / 3 = 0 5,289,041 967,958 123,805 139,752 2018 686 274 26,965 199.70 2019 559 224 26,979 236.10 2020 208 83 26,188 299.20 Summer FTE: % (40,40,40) Sept FTE: New ICS - Independent Charter Schools FTE 0 0 Total FTE 27,439 27,439 26,570 2,618,253 331,587 372,018,892 44,781,361 Line 6: Curr Avg:((19+.4ss)+(20+.4ss)+(21+.4ss)) / 3 = 40,256,461 1,443,569 1,754,226 1,327,105 2019 559 224 26,979 236.10 2020 208 83 26,188 299.20 2021 412 165 25,710 348.40 Summer FTE: % (40,40,40) Sept FTE: New ICS - Independent Charter Schools FTE The Line 6 "Current Average" shown above is used for Revenue Limits. The DISTRICTS MUST USE THE OCT 15 AID CERT WHEN SETTING THE DISTRICT LEVY. 13. Allowable Limited Revenue: (Line 11 - Line 12) (10, 38, 41 Levies) 14. Total Limited Revenue To Be Used (A+B+C) Entries Required Below: Enter amnts needed by purpose and fund: A. Gen Operations: Fnd 10 Src 211 B. Non-Referendum Debt (inside limit) Fund 38 Src 211 C. Capital Exp, Annual Meeting Approved: Fund 41 Src 211 405 15. Total Revenue from Other Levies (A+B+C+D) 13,059.36 A. Referendum Apprvd Debt (Fund 39 Debt-Src 211) 5,289,041 B. Community Services (Fund 80 Src 211) C. Prior Year Levy Chargeback for Uncollectible Taxes (Src 212) D. Other Levy Revenue - Milwaukee & Kenosha Only 31,318,432,826 16. Total Fall, 2021 ESTIMATED All Fund Tax Levy (14A + 14B + 14C + 15) Line 16 is the total levy to be apportioned in the PI-401. District-Entered Districts are responsible for the integrity of their revenue limit data & computation. Data appearing here reflects information submitted to DPI and is unaudited. 327,237,531 Total FTE 27,439 26,570 26,223 Not >line 13 0 26,449 0 (Proposed Fund 10) 0 (to Budget Rpt) 0 (to Budget Rpt) Line 10B: Declining Enrollment Exemption = Average FTE Loss (Line 2 - Line 6, if > 0) 5,289,041 405 X 1.00 0 = 0 0 0 0 X (Line 5, Maximum 2020-2021 Revenue per Memb) = Non-Recurring Exemption Amount: (to Budget Rpt) (to Budget Rpt) (to Budget Rpt) Fall 2021 Property Values 2021 TIF-Out Tax Apportionment Equalized Valuation(estimate until Oct, 2021) 0 Levy Rate = 0.00000000 CELL COLOR KEY: Worksheet is available at: http://dpi.wi.gov/sfs/limits/worksheets/revenue Auto-Calc DPI Data 7/28 Calculation Revised: 8/5/2020. Rounding in Total FTE buckets.

Revenue Limits Membership September Pupil Count FTE + 40% Summer School FTE (3YRA) Four-Step Process Step 1: Build the Base Revenue Per Member (Worksheet lines 1-3) Step 2: Calculate New Revenue Per Member (Worksheet lines 4-7) Step 3: Determine Allowable Exemptions (Worksheet lines 8-11) Step 4: Determine Levy (Worksheet lines 13-16) The revenue limit does not include all revenues and it is not a spending limit. 8/40

Line 1: Base Revenue Line 1 Amount May Not Exceed (Line 11 - (Line 7B+Line 10)) of Final 20-21 Revenue Limit 2020-21 General Aid Certification (20-21 Line 12A, src 621) 2020-21 Computer Aid Received (20-21 Line 12C, Src 691) 2020-21 Hi Pov Aid (20-21 Line 12B, Src 628) 2020-21 Aid for Exempt Personal Property (20-21 Line 12D, Src 691) 2020-21 Fnd 10 Levy Cert (20-21 Line 14A, Levy 10 Src 211) 2020-21 Fnd 38 Levy Cert (20-21 Line 14B, Levy 38 Src 211) 2020-21 Fnd 41 Levy Cert (20-21 Line 14C, Levy 41 Src 211) 2020-21 Aid Penalty for Over Levy (20-21 FINAL Rev Lim, May 2021) 2020-21 Total Levy for All Levied Non-Recurring Exemptions* NET 2021-22 Base Revenue Built from 2020-21 Data (Line 1) + + + + + + + - - = 38,526,919 1,749,437 0 726,682 311,407,617 4,433,030 5,000,000 0 7,295,189 354,548,496 9/28

DISTRICT: 2020-2021 Revenue Limit Worksheet Line 1: Base Revenue + 0 2019-20 Aid for Exempt Personal Property (19-20 Line 12D, Src 691) + 2019-20 Fnd 10 Levy Cert (19-20 Line 14A, Levy 10 Src 211) + 2019-20 Fnd 38 Levy Cert (19-20 Line 14B, Levy 38 Src 211) + 2019-20 Fnd 41 Levy Cert (19-220 Line 14C, Levy 41 Src 211) + 2019-20 Aid Penalty for Over Levy (19-20 FINAL Rev Limit Wksht) - 2019-20 Total Levy for All Levied Non-Recurring Exemptions* - NET 2020-21 Base Revenue Built from 2019-20 Data (Line 1) = DATA AS OF 5/28/2021 8:15 AM 1. 2019-20 Base Revenue (Funds 10, 38, 41) 2. Base Sept Membership Avg (2017+.4ss, 2018+.4ss, 2019+.4ss)/3 36,802,018 3. 2019-20 Base Revenue Per Member (Ln 1 / Ln2) 1,749,437 4. 2020-21 Per Member Change (A+B) 2020-21 Low Revenue Ceiling per s.121.905(1): 1,191,029 A. Allowed Per-Member Change for 20-21 ($179, all districts) 299,462,334 B. Low Rev Incr ((Low Rev Ceiling-(3+4A))-4C) NOT<0 5,257,768 C. Value of the CCDEB (DPI Computed-CCDEB Dists only) 5,000,000 5. 2020-21 Maximum Revenue / Member (Ln 3 + Ln 4) 12,348 6. Current Membership Avg (2018+.4ss, 2019+.4ss, 2020+.4ss)/3 2,725,575 7. 2020-21 Rev Limit, No Exemptions (Ln7A + Ln 7B) 346,724,663 A. Max Rev/Memb x Cur Memb Avg (Ln 5 x Ln 6) B. Hold Harmless Non-Recurring Exemption 8. Total 2020-21 Recurring Exemptions (A+B+C+D+E) A. Prior Year Carryover B. Transfer of Service C. Transfer of Territory/Other Reorg (if negative, include sign) D. Federal Impact Aid Loss (2018-19 to 2019-20) E. Recurring Referenda to Exceed (If 2020-21 is first year) 9. 2020-21 Limit with Recurring Exemptions (Ln 7 + Ln 8) 10. Total 2020-21 Non-Recurring Exemptions (A+B+C+D+E+F+G+H+I) 27,406 A. Non-Recurring Referenda to Exceed 2020-21 Limit B. Declining Enrollment Exemption for 2020-21 (from left) C. Energy Efficiency Net Exemption for 2020-21 (see pg 4 for details) D. Adjustment for Refunded or Rescinded Taxes, 2020-21 E. Prior Year Open Enrollment (uncounted pupil[s]) F. Reduction for Ineligible Fund 80 Expenditures (enter as negative) G. Other Adjustments (Fund 39 Bal Transfer) H. WPCP and RPCP Private School Voucher Aid Deduction I. SNSP Private School Voucher Aid Deduction 11. 2020-21 Revenue Limit With All Exemptions (Ln 9 + Ln 10) 27,149 12. Total Aid to be Used in Computation (12A + 12B + 12C + 12D) A. 2020-21 October 15 Certification of General Aid B. State Aid to High Poverty Districts (not all districts) C. State Aid for Exempt Computers (Source 691) D. State Aid for Exempt Personal Property (Source 691) average used for Per Pupil Aid does not include "New ICS - Independent Charter Schools FTE." The PPA average appears below after data is entered for 2020: Line 14 > Line 13 (from left) (from left) (with cents) 346,724,663 27,406 12,651.41 179.00 Line 1 Amount May Not Exceed Line 11 - (Line 7B+Line 10) of Final 19-20 Revenue Limit 2019-20 General Aid Certification (19-20 Line 12A, src 621) 2019-20 Computer Aid Received (19-20 Line 12C, Src 691) 2019-20 Hi Pov Aid (19-20 Line 12B, Src 628) + + 10,000 179.00 0.00 0.00 12,830.41 27,149 348,332,801 (from left) (rounded) 348,332,801 0 *For the Non-Recurring Exemptions Levy Amount, enter actual amount for which district levied; (7B Hold Harmless, Non-Recurring Referenda, Declining Enrollment, Energy Efficiency Exemption, Refunded/Rescinded Taxes, Prior Year Open Enrollment Pupils, Reduction for Ineligible Fund 80 Expends, Other Adjustments, Private School Voucher Aid Deduction, Private School Special Needs Voucher Aid Deduction) (rounded) 6,215,695 0 215,695 0 0 6,000,000 September & Summer FTE Membership Averages Count Ch. 220 Inter-District Resident Transfer Pupils @ 75%. 354,548,496 7,295,189 Line 2: Base Avg:((17+.4ss)+(18+.4ss)+(19+.4ss)) / 3 = 0 3,297,415 957,358 285,658 109,048 2017 674 270 27,070 2018 686 274 26,965 199.7 2019 559 224 26,979 236.1 Summer FTE: % (40,40,40) Sept FTE: New ICS - Independent Charter Schools FTE 0 0 0 Total FTE 27,340 27,439 27,439 2,302,699 343,011 361,843,685 41,003,038 Line 6: Curr Avg:((18+.4ss)+(19+.4ss)+(20+.4ss)) / 3 = 38,526,919 2018 686 274 26,965 199.7 2019 559 224 26,979 236.1 2020 208 83 26,188 299.2 Summer FTE: % (40,40,40) Sept FTE: New ICS - Independent Charter Schools FTE 0 The Line 6 "Current Average" shown above is used for Revenue Limits. The Overlevy if 1,749,437 726,682 REMEMBER TO USE THE OCTOBER 15 AID CERTIFICATION WHEN SETTING THE DISTRICT LEVY. 13. Allowable Limited Revenue: (Line 11 - Line 12) (10, 38, 41 Levies) 14. Total Limited Revenue To Be Used (A+B+C) Entries Required Below: Enter amnts needed by purpose and fund: A. Gen Operations: Fnd 10 Src 211 B. Non-Referendum Debt (inside limit) Fund 38 Src 211 C. Capital Exp, Annual Meeting Approved: Fund 41 Src 211 257 15. Total Revenue from Other Levies (A+B+C+D) 12,830.41 A. Referendum Apprvd Debt (Fund 39 Debt-Src 211) 3,297,415 B. Community Services (Fund 80 Src 211) C. Prior Year Levy Chargeback for Uncollectible Taxes (Src 212) D. Other Levy Revenue - Milwaukee & Kenosha Only 31,454,803,868 16. Total Fall, 2020 ESTIMATED All Fund Tax Levy (14A + 14B + 14C + 15) Line 16 is the total levy to be apportioned in the PI-401. District-Entered Districts are responsible for the integrity of their revenue limit data & computation. Data appearing here reflects information submitted to DPI and is unaudited. 320,840,647 Total FTE 27,439 27,439 26,570 320,840,647 Not >line 13 26,904 311,407,617 (Proposed Fund 10) 4,433,030 (to Budget Rpt) 5,000,000 (to Budget Rpt) Line 10B: Declining Enrollment Exemption = Average FTE Loss (Line 2 - Line 6, if > 0) 3,297,415 257 X 1.00 29,198,945 = 18,494,475 10,638,849 65,621 X (Line 5, Maximum 2020-2021 Revenue per Memb) = Non-Recurring Exemption Amount: (to Budget Rpt) (to Budget Rpt) (to Budget Rpt) 350,039,592 0.01112833 0 Fall 2020 Property Values 2020 TIF-Out Tax Apportionment Equalized Valuation Levy Rate = CELL COLOR KEY: Worksheet is available at: http://dpi.wi.gov/sfs/limits/worksheets/revenue Auto-Calc DPI Data 10/2 Calculation Revised: 8/5/2020. Rounding in Total FTE buckets.

Lines 2 & 6 and Per Pupil Aid September & Summer FTE Membership Averages Count Ch. 220 Inter-District Resident Transfer Pupils @ 75%. Line 2: Base Avg:((18+.4ss)+(19+.4ss)+(20+.4ss)) / 3 = 27,149 2018 686 274 26,965 199.70 2019 559 224 26,979 236.10 2020 208 83 26,188 299.20 Summer FTE: % (40,40,40) Sept FTE: New ICS - Independent Charter Schools FTE Total FTE 27,439 27,439 26,570 Line 6: Curr Avg:((19+.4ss)+(20+.4ss)+(21+.4ss)) / 3 = 26,744 2019 559 224 26,979 236.10 2020 208 83 26,188 299.20 2021 412 165 25,710 348.40 Summer FTE: % (40,40,40) Sept FTE: New ICS - Independent Charter Schools FTE The Line 6 "Current Average" shown above is used for Revenue Limits. The average used for Per Pupil Aid does not include "New ICS - Independent Charter Schools FTE." The PPA average appears below after data is entered for 2021: Total FTE 27,439 26,570 26,223 26,449 11/2

Line 10B: Declining Enrollment Exemption Line 10B: Declining Enrollment Exemption = Average FTE Loss (Line 2 - Line 6, if > 0) 5,289,041 405 405 X 1.00 = 13,059.36 5,289,041 X (Line 5, Maximum 2020-2021 Revenue per Memb) = Non-Recurring Exemption Amount: 10. Total 2021-22 Non-Recurring Exemptions (A+B+C+D+E+F+G+H+I) A. Non-Recurring Referenda to Exceed 2021-22 Limit B. Declining Enrollment Exemption for 2021-22 (from left) C. Energy Efficiency Net Exemption for 2021-22 (see pg 4 for details) D. Adjustment for Refunded or Rescinded Taxes, 2021-22 E. Prior Year Open Enrollment (uncounted pupil[s]) F. Reduction for Ineligible Fund 80 Expenditures (enter as negative) G. Other Adjustments (Fund 39 Bal Transfer) H. WPCP and RPCP Private School Voucher Aid Deduction I. SNSP Private School Voucher Aid Deduction 9,470,396 0 5,289,041 967,958 123,805 139,752 0 0 2,618,253 331,587 12/2

Build the Base Revenue Per Member 1. 2021-22 Base Revenue (Funds 10, 38, 41) 2. Base Sept Membership Avg (2018+.4ss, 2019+.4ss, 2020+.4ss)/3 3. 2021-22 Base Revenue Per Member (Ln 1 / Ln2) (from left) (from left) (with cents) 354,548,496 27,149 13,059.36 Line 1 Amount May Not Exceed (Line 11 - (Line 7B+Line 10)) of Final 20-21 Revenue Limit 2020-21 General Aid Certification (20-21 Line 12A, src 621) 2020-21 Computer Aid Received (20-21 Line 12C, Src 691) 2020-21 Hi Pov Aid (20-21 Line 12B, Src 628) 2020-21 Aid for Exempt Personal Property (20-21 Line 12D, Src 691) 2020-21 Fnd 10 Levy Cert (20-21 Line 14A, Levy 10 Src 211) 2020-21 Fnd 38 Levy Cert (20-21 Line 14B, Levy 38 Src 211) 2020-21 Fnd 41 Levy Cert (20-21 Line 14C, Levy 41 Src 211) 2020-21 Aid Penalty for Over Levy (20-21 FINAL Rev Lim, May 2021) 2020-21 Total Levy for All Levied Non-Recurring Exemptions* NET 2021-22 Base Revenue Built from 2020-21 Data (Line 1) + + + + + + + - - = 38,526,919 1,749,437 0 726,682 311,407,617 4,433,030 5,000,000 0 7,295,189 354,548,496 September & Summer FTE Membership Averages Count Ch. 220 Inter-District Resident Transfer Pupils @ 75%. Line 2: Base Avg:((18+.4ss)+(19+.4ss)+(20+.4ss)) / 3 = 27,149 2018 686 274 26,965 199.70 2019 559 224 26,979 236.10 2020 208 83 26,188 299.20 Summer FTE: % (40,40,40) Sept FTE: New ICS - Independent Charter Schools FTE Total FTE 27,439 27,439 26,570 13/2 Line 6: Curr Avg:((19+.4ss)+(20+.4ss)+(21+.4ss)) / 3 = 26,744 2019 559 224 26,979 236.10 2020 208 83 26,188 299.20 2021 412 165 25,710 348.40 Summer FTE: % (40,40,40) Sept FTE: New ICS - Independent Charter Schools FTE The Line 6 "Current Average" shown above is used for Revenue Limits. The average used for Per Pupil Aid does not include "New ICS - Independent Charter Schools FTE." The PPA average appears below after data is entered for 2021: Total FTE 27,439 26,570 26,223 26,449

Calculate New Revenue Per Member 3. 2021-22 Base Revenue Per Member (Ln 1 / Ln2) 4. 2021-22 Per Member Change (A+B) (with cents) 13,059.36 0.00 2021-22 Low Revenue Ceiling per s.121.905(1): 10,000.00 A. Allowed Per-Member Change for 21-22 B. Low Rev Incr ((Low Rev Ceiling-(3+4A))-4C) NOT<0 C. Value of the CCDEB (21-22 DPI Computed-CCDEB Dists only) 5. 2021-22 Maximum Revenue / Member (Ln 3 + Ln 4) 6. Current Membership Avg (2019+.4ss, 2020+.4ss, 2021+.4ss)/3 7. 2021-22 Rev Limit, No Exemptions (Ln7A + Ln 7B) A. Max Rev/Memb x Cur Memb Avg (Ln 5 x Ln 6) B. Hold Harmless Non-Recurring Exemption 0.00 0.00 0.00 13,059.36 26,744 354,548,496 (from left) (rounded) 349,259,524 5,288,972 14/2

Determine Recurring Exemptions 7. 2021-22 Rev Limit, No Exemptions (Ln7A + Ln 7B) A. Max Rev/Memb x Cur Memb Avg (Ln 5 x Ln 6) B. Hold Harmless Non-Recurring Exemption 8. Total 2021-22 Recurring Exemptions (A+B+C+D+E) A. Prior Year Carryover B. Transfer of Service C. Transfer of Territory/Other Reorg (if negative, include sign) D. Federal Impact Aid Loss (2019-20 to 2020-21) E. Recurring Referenda to Exceed (If 2021-22 is first year) 9. 2021-22 Limit with Recurring Exemptions (Ln 7 + Ln 8) (rounded) 349,259,524 5,288,972 (rounded) 354,548,496 8,000,000 0 0 0 0 8,000,000 362,548,496 15/2

Determine Non-Recurring Exemptions 9. 10. Total 2021-22 Non-Recurring Exemptions (A+B+C+D+E+F+G+H+I) A. Non-Recurring Referenda to Exceed 2021-22 Limit B. Declining Enrollment Exemption for 2021-22 (from left) C. Energy Efficiency Net Exemption for 2021-22 (see pg 4 for details) D. Adjustment for Refunded or Rescinded Taxes, 2021-22 E. Prior Year Open Enrollment (uncounted pupil[s]) F. Reduction for Ineligible Fund 80 Expenditures (enter as negative) G. Other Adjustments (Fund 39 Bal Transfer) H. WPCP and RPCP Private School Voucher Aid Deduction I. SNSP Private School Voucher Aid Deduction 11. 2021-22 Revenue Limit With All Exemptions (Ln 9 + Ln 10) 2021-22 Limit with Recurring Exemptions (Ln 7 + Ln 8) 362,548,496 9,470,396 0 5,289,041 967,958 123,805 139,752 0 0 2,618,253 331,587 372,018,892 NR exemptions are subtracted out when building next year s base! 16/2

Line 10D vs Line 15C Line 10D: Adjustment for Refunded or Rescinded Taxes Property taxpayer contests assessment and value of property is reduced Districts allowed to increase RL by the amount refunded as a result of a valuation re-determination under s. 74.41 DOR computes amounts each fall and sends letters in mid-November; DPI pre-populates this field based on certified amounts provided by DOR Statutes do not permit RL exemption for any other kind of chargeback Line 15C: Prior Year Levy Chargeback for Uncollectible Taxes Municipality unable to collect full amount from property taxpayer after full levied amount provided to district Municipality asks the district to return the uncollectible amount under s. 74.42 District recovers the amount returned to municipality through an outside of the RL chargeback levy instead of an adjustment 17/2

Determine Your Levy 11. 2021-22 Revenue Limit With All Exemptions (Ln 9 + Ln 10) 12. Total Aid to be Used in Computation (12A + 12B + 12C + 12D) A. 2021-22 OCTOBER 15 CERT OF GENERAL AID B. State Aid to High Poverty Districts (not all districts) C. State Aid for Exempt Computers (Source 691) D. State Aid for Exempt Personal Property (Source 691) 372,018,892 44,781,361 40,256,461 1,443,569 1,754,226 1,327,105 DISTRICTS MUST USE THE OCT 15 AID CERT WHEN SETTING THE DISTRICT LEVY. 13. Allowable Limited Revenue: (Line 11 - Line 12) (10, 38, 41 Levies) 327,237,531 18/2

Equalization Aid Factors What affects the amount of a district s Equalization Aid? District Factors (Prior Year Audited) Shared cost Membership (Average of 3rd Friday in September + 2nd Friday in January FTE, plus 100% of Summer FTE, plus other adjustments) Equalized property value State Factors Cost ceilings Guaranteed valuations per member Amount of funding the State puts into the formula 19/2

Equalization Aid Factors WISCONSIN DEPARTMENT OF PUBLIC INSTRUCTION JULY 1 ESTIMATE OF 2022-23 GENERAL AID GUARANTEES FOR JULY 1 AID K-12 UHS K-8 PRIMARY (G1) 1,930,000 5,790,000 2,895,000 SECONDARY (G6) 1,680,549 5,041,647 2,520,823 USING 2021-22 BUDGET REPORT DATA, 2021-22 AUDITED MEMBERSHIP TERTIARY (G11) 2022-2023 JULY 1 ESTIMATE GENERAL AID 755,033 2,265,099 1,132,549 2021 TIFOUT SCHOOL AID VALUE (CERT MAY 2022) & 2016 COMPUTER VALUE (CERT MAY 2017) Madison Metropolitan 3269 PART A: 2021-22 AUDITED MEMBERSHIP A1 3RD FRI SEPT 2021 MEMBERSHIP* (include Challenge Academy) A2 2ND FRI JAN 2022 MEMBERSHIP* (include Challenge Academy) A3 TOTAL (A1 + A2) A4 AVERAGE (A3/2) (ROUNDED) A5 SUMMER 2021 FTE EQUIVALENT* (ROUNDED) A6A FOSTER GROUP + PARTTIME RESIDENT FTE EQUIVALENT (AVE SEPT+JAN) A6B PARTTIME NON-RESIDENT FTE EQUIVALENT (AVE SEPT+JAN) A6C STATEWIDE CHOICE & RACINE PUPILS STARTING IN FALL 15 & AFTER A6D STATEWIDE SPECIAL NEEDS SCHOLARSHIP PROGRAM PUPILS A6E INDEPENDENT CHARTER SCHOOLS (ICS) NEW AUTHORIZERS STUDENTS A7 AID MEMBERSHIP (A4+A5+A6A+A6B+A6C+A6D+A6E) (ROUNDED) * Ch 220 Resident Inter FTE counts only 75%. FTE 25,680.00 25,895.00 51,575.00 25,788.00 412.00 PART E: 2021-22 SHARED COST - CONTINUED E6 PRIMARY COST CEILING PER MEMBER E7 PRIMARY CEILING (A7 * E6) E8 PRIMARY SHARED COST (LESSER OF E5 OR E7) E9 SECONDARY COST CEILING PER MEMBER E10 SECONDARY CEILING (A7 * E9) E11 SECONDARY SHARED COST ((LESSER OF E5 OR E10) - E8) E12 TERTIARY SHARED COST (GREATER OF (E5 - E8 - E11) OR 0) E4 = 405,501,816.55 1,000 26,882,000.00 26,882,000.00 11,005 295,836,410.00 268,954,410.00 0.53 0.00 305.00 27.00 349.00 26,882.00 109,665,406.55 SHARED COST PER MEMBER = $15,085 PART F: EQUALIZED PROPERTY VALUE F1 2021 TIFOUT VALUE (CERT MAY 22) + EXEMPT COMPUTER VALUE (CERT MAY 17) VALUE PER MEMBER = 31,381,752,157 1,167,389 20/2

Determine Your Levy 13. Allowable Limited Revenue: (Line 11 - Line 12) (10, 38, 41 Levies) 14. Total Limited Revenue To Be Used (A+B+C) Entries Required Below: Enter amnts needed by purpose and fund: A. Gen Operations: Fnd 10 Src 211 B. Non-Referendum Debt (inside limit) Fund 38 Src 211 C. Capital Exp, Annual Meeting Approved: Fund 41 Src 211 15. Total Revenue from Other Levies (A+B+C+D) A. Referendum Apprvd Debt (Fund 39 Debt-Src 211) B. Community Services (Fund 80 Src 211) C. Prior Year Levy Chargeback for Uncollectible Taxes (Src 212) D. Other Levy Revenue - Milwaukee & Kenosha Only 16. Total Fall, 2021 ESTIMATED All Fund Tax Levy (14A + 14B + 14C + 15) Line 16 is the total levy to be apportioned in the PI-401. 327,237,531 Not >line 13 0 0 (Proposed Fund 10) 0 (to Budget Rpt) 0 (to Budget Rpt) 0 0 0 0 0 (to Budget Rpt) (to Budget Rpt) (to Budget Rpt) 0 Levy Rate = 0.00000000 21/2

PI-401 22/2

PI-401 23/2

Determine Your Levy 13. Allowable Limited Revenue: (Line 11 - Line 12) (10, 38, 41 Levies) 14. Total Limited Revenue To Be Used (A+B+C) Entries Required Below: Enter amnts needed by purpose and fund: A. Gen Operations: Fnd 10 Src 211 B. Non-Referendum Debt (inside limit) Fund 38 Src 211 C. Capital Exp, Annual Meeting Approved: Fund 41 Src 211 15. Total Revenue from Other Levies (A+B+C+D) A. Referendum Apprvd Debt (Fund 39 Debt-Src 211) B. Community Services (Fund 80 Src 211) C. Prior Year Levy Chargeback for Uncollectible Taxes (Src 212) D. Other Levy Revenue - Milwaukee & Kenosha Only 16. Total Fall, 2021 REPORTED All Fund Tax Levy (14A + 14B + 14C + 15) Line 16 is the total levy to be apportioned in the PI-401. 327,237,531 Not >line 13 324,661,046 315,993,263 (Proposed Fund 10) 3,667,783 (to Budget Rpt) 5,000,000 (to Budget Rpt) 32,242,049 18,622,856 13,440,741 178,452 (to Budget Rpt) (to Budget Rpt) (to Budget Rpt) 356,903,095 0.01139594 0 Levy Rate = LINE 14 < LINE 13 = CARRYOVER* LINE 14 > LINE 13 = AID PENALTY * potentially 24/2

Levy Rate Fall 2021 Property Values 2021 TIF-Out Tax Apportionment Equalized Valuation 31,318,432,826 1. This 2. Divided by this 16. Total Fall, 2021 REPORTED All Fund Tax Levy (14A + 14B + 14C + 15) Line 16 is the total levy to be apportioned in the PI-401. 356,903,095 0.01139594 Levy Rate = 3. Yields your levy rate 25/2

Timeline October 14: Oct. 15th General Aid Certification released (this year) November 1: Deadline for school boards to approve levies November 4: Deadline to submit PI-401 November 10: Deadline for district clerks to inform municipal clerks of their share of the tax levy 26/2

Revenue Limits How can I predict future limits? SFS Home Revenue Limit Worksheets for Budget Planning 2022-23 Pre-Populated Revenue Limit Worksheet Longitudinal Revenue Limit Data 27/2

Questions? DPI School Financial Services Team https://dpi.wi.gov/sfs dpifin@dpi.wi.gov 608-267-9114 Mark Elworthy, Director Bob Soldner, Assistant Director Ben Kopitzke, Finance Consultant 608-266-9534 608-267-9124 608-267-9279 28/2