The district’s board of trustees approved the total $67.89 million budget during an Aug. 18 meeting in a 6-0 vote with Trustee Leigh Ann Artho absent. The budget accounts for general operating needs, child nutrition services and paying off district debt and interests.
The district also approved a tax rate of $1.1727 per $100 of assessed value, which is just under four pennies less than last fiscal year, Chief Financial Officer Liz Stewart said.
A closer look
The general fund has $68.94 million in projected revenue and $67.89 million in expenses, creating a surplus of nearly $1.05 million.
The $68.94 million budgeted for general fund revenue is a 12.8% increase over the $61.13 million for the FY 2024-25 amended budget.
According to a district presentation, general fund expenses have been trending up since the 2019-2020 fiscal year. In FY 2023-24, the district spent $54.79 million and expenses for the 2024-25 fiscal year are expected to total $60.62 million.
Of the total $67.89 million in expenses, the largest portion of $41.27 million will be spent on instruction, according to district documents.
“If you're not spending more on instruction than you are anywhere else, we might want to rethink what we're doing,” she said.
The maintenance and operations tax rate is $0.6727 per $100 of assessed value, which is a decrease from the 2024-25 fiscal year. The interest & sinking tax rate remains the same as the previous fiscal year at $0.5000 per $100 valuation. This brings the overall tax rate to $1.1727 per $100 of assessed value, which is a decrease of a little over 3 cents year over year.
The budget also includes:
- $3.74 million in child nutrition expenditures
- $100,000 in the technology fund
- $38.17 million in the debt service fund
Per district documents, key priorities for the upcoming FY 2025-26 fiscal year include:
- Compensation
- Class size ratios
- Instructional support positions
- Maintaining a balanced budget
If enrollment continues to grow and class sizes increase, the district has the ability to add teaching positions that are already built into the budget. Stewart said the district may need to consider portable buildings as a contingency for space.
