"Splain it to me, Lucy."

More and more people are asking the same question that David Huston has presented to Jan Klein, so I thought I should post it here.   Maybe someone can come forward and explain Jan Klein's math.  I have been told that it has to do with gaming revenue, but we can't figure out how she accounts for it.  As Ricky Ricardo used to say, "Splain it to me, Lucy."

Budget forecast

From: wq3t@hotmail.com
To: jklein@mtlsd.net
CC: tsteinhauer@mtlsd.net
Subject: RE: forecast millage question
Date: Mon, 26 Sep 2011 02:43:50 +0000

Ms. Klein,
  I showed the formulas on the sheet and pointed to the answers. I have attached the same sheet to this message for your review.

Here they are again:
Audited 2009-2010
Real Estate Tax 48,362,461 divided by Assessed Valuation 2,154,641,502 equals 2.24% or 22.4 mills.
Millage rate 24.11 minus previous answer 22.4 mills equals 1.71 mills.
How do you account for the difference of 1.71 mills?

Budgeted 2010-2011
Real Estate Tax 53,570,408 divided by Assessed Valuation 2,170,447,511 equals 2.47% or 24.7 mills.
Millage rate 26.63 minus previous answer 24.7 mills equals 1.93 mills.
How do you account for the difference of 1.93 mills?

Final Budget 2011-2012
Real Estate Tax 53,806,797 divided by Assessed Valuation 2,173,384,611 equals 2.48% or 24.8 mills.
Millage rate 26.63 minus previous answer 24.8 mills equals 1.83 mills.
How do you account for the difference of 1.83 mills?

Let me know if you have any questions.

David Huston

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From: JKlein@mtlsd.net
To: wq3t@hotmail.com
CC: TSteinhauer@mtlsd.net
Subject: FW: forecast millage question
Date: Sun, 25 Sep 2011 15:28:19 +0000

Mr. Huston,

I am not sure what your calculations are, so I can’t respond accurately to your question.

Respectfully,

Jan Klein

Jan Klein

Director of Business

Mt. Lebanon School District

7 Horsman Drive

Pittsburgh, PA  15228

412-344-2098

I prefer the errors of enthusiasm to the indifference of wisdom - Anatole France

From: David Huston [mailto:wq3t@hotmail.com]
Sent: Friday, September 23, 2011 1:58 PM
To: Jan Klein
Subject: forecast millage question

Ms. Klein,
  See attached pdf with question for you.
David Huston