Madison School DistrictMadison School DistrictExtracurricular Tax CreditsExtracurricular Tax Credits

Governing Board Meeting09/06/2011

Tax Credit ContributionsTax Credit Contributions

For Each Dollar Contributed (up to For Each Dollar Contributed (up to $200/$400), Donor Receives an $200/$400), Donor Receives an Equal Credit Against Their Tax Equal Credit Against Their Tax Liability Liability

Tax Credit Contributions Can Be Used Tax Credit Contributions Can Be Used to Offset Any Extracurricular Fee to Offset Any Extracurricular Fee (including the Student Activity Fee)(including the Student Activity Fee)

Tax Credit UsesTax Credit Uses

Extracurricular Activities Any optional, noncredit, educational or

recreational activity which supplements the education program of the school, whether offered before, during or after regular school hours

Character Education Programs

Current State of Current State of Extracurricular Tax Extracurricular Tax

CreditsCredits

2010/11 Revenue2010/11 Revenue

$0

$20,000

$40,000

$60,000

$80,000

$100,000

$120,000

District Total - $ 413,764

Revenue CategoriesRevenue Categories Donors Designated 22 CategoriesDonors Designated 22 Categories Top Categories (>2% of total Top Categories (>2% of total

revenue)revenue) GeneralGeneral $ 241,907$ 241,907 55thth Grade Grade $ 36,375$ 36,375 66thth Grade Grade $ 9,975$ 9,975 AthleticsAthletics $ 37,816$ 37,816 REACH/GiftedREACH/Gifted $ 18,978$ 18,978 Field TripsField Trips $ 16,601$ 16,601 Odyssey of the MindOdyssey of the Mind $ 30,982$ 30,982

2010/11 Expenditures2010/11 Expenditures

0

20000

40000

60000

80000

100000

120000

Madison#1

Camelview Simis Rose Lane Park Meadows Heights MTA

District Total - $ 388,418

Expenditure CategoriesExpenditure Categories Top Categories Top Categories (>2% of total expenditures(>2% of total expenditures))

55thth Grade Grade $ 38,892$ 38,892 66thth Grade Grade $ 8,928$ 8,928 AthleticsAthletics $ 74,044$ 74,044 After-Cool FitnessAfter-Cool Fitness $ 57,320$ 57,320 REACH/GiftedREACH/Gifted $ 16, 794$ 16, 794 Fine ArtsFine Arts $ 29,352$ 29,352 AssembliesAssemblies $ 9,132$ 9,132 Field TripsField Trips $ 51,635$ 51,635 Odyssey of the MindOdyssey of the Mind $ 31,031$ 31,031 Extended Learning TimeExtended Learning Time $ 21,714$ 21,714

Cash Balances Cash Balances

MadisMadison #1on #1

CamelviCamelviewew

SimisSimis Rose Rose LaneLane

Cash Cash 07/01/1007/01/10

$ $ 5,9515,951

$ 44, $ 44, 689689

$ $ 40,05740,057

$ $ 27,28027,280

RevenuesRevenues 69,03069,030

15,66115,661

85,20585,205

41,96241,962

ExpendituExpendituresres

53,11253,112

2,4182,418

80,74780,747

55,46255,462

Cash Cash 06/30/1106/30/11

$ $ 20,86920,869

$ $ 57,93257,932

$ $ 44,51544,515

$ $ 13,78013,780

Increase Increase /(Decrease/(Decrease) )

$14,91$14,9188

$ $ 13,24413,244

$ $ 4,4584,458

($ ($ 13,500)13,500)

Cash Balances Cash Balances

ParkPark MeadowMeadowss

HeightHeightss

MTAMTA

Cash Cash 07/01/1007/01/10

($ ($ 3,438)3,438)

$ $ 19,63419,634

$ $ 79,95479,954

$ $ 41,30341,303

RevenuesRevenues 42,62642,626

106,769106,769

24,91024,910

28,60028,600

ExpendituExpendituresres

24,70224,702

100,621100,621

25,97725,977

45,37845,378

Cash Cash 06/30/1106/30/11

$ $ 14,48614,486

$ $ 25,78225,782

$ $ 78,88778,887

$ $ 24,52424,524

Increase Increase /(Decrease/(Decrease) )

$ $ 17,92417,924

$ $ 6,1486,148

($ ($ 1,067)1,067)

($ ($ 16,778)16,778)

Student Activity Fee Student Activity Fee ProceduresProcedures

Inconsistency in Collection of $50 Inconsistency in Collection of $50 FeeFee Some schools request feeSome schools request fee

Some track donors; some do not Some track donors; some do not Some schools with greater collection not Some schools with greater collection not

askingasking

Next StepsNext Steps

Consistency in Requesting $50 FeeConsistency in Requesting $50 Fee Standard Letter Standard Letter

SchoolsSchools Track Payment of Extracurricular Tax Track Payment of Extracurricular Tax

CreditsCredits Can be used to off-set extracurricular fees Can be used to off-set extracurricular fees

(including student activity fee, athletic fee, (including student activity fee, athletic fee, etc.)etc.)

Reminder LettersReminder Letters

You Will Be Amazed!