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Meeting Date:
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10/31/2024 - 5:30 PM
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Category:
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REPORTS AND COMMUNICATIONS FROM THE BOARD CLERK/CHIEF OFFICER, OFFICE OF BOARD GOVERNANCE
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Type:
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Info
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Subject:
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2. Report with Possible Action on Legislative Matters Concerning Milwaukee Public Schools
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Strategic Plan Compatibility Statement:
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Goal 1 Academic Achievement Goal 2 Student, Family and Community Engagement Goal 3 Effective and Efficient Operations
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Attachments
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2023 School Levy Tax Credit - Milwaukee
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File Attachment:
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Background:
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Gov. Tony Evers and the Wisconsin Department of Administration announced the state of Wisconsin ended Fiscal Year (FY) 2024 with a positive balance of $4.6 billion. In addition, the state saw its ‘rainy day’ fund (Budget Stabilization Fund) increase to a record-high $1.9 billion. An additional state fiscal update will be provided in November. The Department of Public Instruction's state budget proposal is also expected in November.
In 2023 The School Levy Tax Credit related to MPS was $68,569,045.91. The credit effectively reduces the school district's levy impact by that amount as is applied after the school district sets its levy.
Statewide the levy credit will increase by about 6%. A 6% increase applied to the Milwaukee school district levy credit, would put the credit in the neighborhood of $72 million in 2024. The school levy credit is delivered to municipalities on November 20.
Local and State level updates will be provided as warranted.
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Fiscal Impact Statement:
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This item does not authorize expenditures.
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Implementation and Assessment Plan
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The district will continue to pursue appropriate support for students as part of the MPS Legislative Agenda.
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Recommendation:
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Approvals:
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Recommended By:
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Signed By:
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Chris Thiel - Legislative Policy Specialist
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Signed By:
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Dr. Tina Owen-Moore - Board Clerk
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