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Budget and School Finance

Building trust begins with transparency. USD 470 is committed to helping our community understand how school finance works and how district resources are managed to honor your investment in our schools. Whether you're looking for budget documents, answers to common questions, or our Budget Breakdown video series, you'll find it here.

Budget Documents

Budget Profile

Budget at a Glance

Code 99: Notice of Hearing

Form 150

Summary of Expenses

Needs Assessment

Required Postings

Budget Timeline

June

  • County Clerk calculates the Revenue Neutral Rate (RNR).

July

  • By July 20: USD 470 submits its proposed mill levy and budget information to the County Clerk.
  • After July 20: The County Clerk mails Revenue Neutral notices to taxpayers.

August

  • Revenue Neutral Hearing and Budget Hearing are held.

September

  • Budget hearings may continue through Sept. 20.
  • By Sept. 20: The Board adopts the budget, and it is submitted to the Kansas State Department of Education (KSDE).

October

  • By Oct. 1: Final budget, levy certification and Revenue Neutral documents are filed with the County Clerk.
KSDE Performance Accountability Reports logo
blue button for longitudinal achievement reports
Blue button for financial accountability reports

Budget Breakdown Series

Understanding school finance shouldn't require a finance degree.

Our Building Our Future: Budget Breakdown series explains how the USD 470 budget works through short videos, simple graphics, and answers to common questions. Whether you're looking for budget documents or just want to better understand how school funding works, this page is your one-stop resource.

Budget Breakdown Videos

Graphic promoting USD 470’s “Budget Breakdown” video series. The left panel asks, “What is the Revenue Neutral Rate?” and says the video explains what RNR means — and what it does not. It includes a calculator, tax document and chart graphic with a “Watch Now” button. The right panel introduces the series as a way to help the community understand school finance in Kansas and what it means for local schools.
Infographic titled %22Budget Breakdown: Understanding School Finance – Understanding Mill Levies.%22 It explains that one mill equals $1 of property tax for every $1,000 of assessed valuation. A budget fact notes that higher assessed values can generate the same revenue with fewer mills. An example uses an assessed valuation of $25,000, showing that 20 mills generates $500 in taxes, 30 mills generates $750, and 40 mills generates $1,000. A flow diagram illustrates the relationship between appraised
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Budget Breakdown Graphics

Graphic titled %22Budget Fact.%22 A pie chart shows that school funding comes from several sources, not just one. The largest share is state aid, followed by local property taxes, federal funds, grants, and fees and other revenue. A sidebar explains each funding source: state aid is based on student enrollment and need; local property taxes support daily operations, facilities, and voter-approved bonds; federal funds support programs such as special education, nutrition, and Title I; grants provide
Graphic titled %22Budget Fact: Appraised Value vs. Assessed Valuation.%22 It explains that property taxes are based on assessed value, not appraised value. An example shows an appraised home value of $100,000 multiplied by the Kansas residential assessment rate of 11.5% to equal an assessed valuation of $11,500. A note states that the school district receives property tax revenue but does not determine property values or appraisal increases. A diagram at the bottom shows the process: Appraised Value
Graphic explaining mill levies. One mill equals $1 in property tax for every $1,000 of assessed valuation. An example shows that on $25,000 of assessed valuation, 20 mills equals $500, 30 mills equals $750 and 40 mills equals $1,000. A flow chart shows how appraised property value, assessed value and the mill levy determine property tax revenue that supports school services.
Purple, gold and white “Budget Fact” graphic explaining the Revenue Neutral Rate. It outlines four steps: property values increase, the Revenue Neutral Rate is calculated, the Board of Education approves the needed property tax amount, and public notice, a hearing and a board vote are required if the district exceeds revenue neutral. The graphic compares remaining revenue neutral with exceeding revenue neutral to address rising costs. It also notes that new construction and improvements add to t

Frequently Asked Questions

Don't See Your Question?

We're always looking for ways to help our community better understand school finance. Submit your question, and we may answer it in a future Budget Breakdown video or add it to this FAQ.

You can also reach out directly to:

Braden Smith
Assistant Superintendent of Business and Operations

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