As most of you already know the Equalization Aid formula has continued to be a major “hot” button for me. Today, I had a very nice conversation with Jerry Landmark, Director of Student Finance Service at the Wis DPI (Wisconsin Department of Public Instruction). He answered a few questions I had regarding the formula, as well as, educating me on what could impact our numbers.
I realize for some this might be well over the head, it has been quite complicated for me to understand. But to simplify the information, somewhat, I have compiled a spreadsheet outlining the two key factors that go into determining the amount of aid Beloit has received in the past. He (Jerry) also stated that the risk we face of having this number dramatically shifting in the years to come is pretty slim. This was also confirmed by reps from Tim Cullen and Amy Loudenbeck’s offices.
From what I have gathered there are two ways our percentage could decrease.
First, if the districts cost sharing amount were to decrease per member/student, which it hasn’t in any year.
The second way is if our property value per member/student were to rise faster than all other districts throughout the state.
I have compiled factual information from the DPI website which outlines the last 14 years. I have also included the property value figures for Beloit Turner as a comparison. Also, for those “naysayers” that state the State will cut funding due to a decrease in tax revenues I have included historical data on the Gross Domestic Product numbers for the entire State over this same period of time. All of the numbers are pretty compelling.
We have one week to to continue to garner support, it is time to speed up our efforts to pass this Referendum. I hope I don’t get you too dizzy with all of the numbers.
John C. Wong, CFP
Senior Financial Advisor, Vice President…