This updated projection dropped its projected shortfall by over $355,000 compared to what the district projected in April for FY 2025-26.
The overview
Compared to FY 2024-25, updated projections show revenues would increase by over $2 million, and expenses would increase by over $3.3 million, according to budget documents.
Among the rise in expenses, the total cost for salaries is projected to increase by over 5%, or over $2.8 million, compared to FY 2024-25, according to budget documents.
While salary expenses are not yet set for FY 2025-26, the district presented the board with two potential salary scenarios:
- Scenario 1: $2,500 increase for teachers with three to four years of experience, $5,000 increase for teachers with five or more years of experience and it would break up existing five-year salary groups
- Scenario 2: $2,500 increase for teachers with zero to two years of experience and a 1% increase for all other non-administrative staff
The district also projected a tax rate decrease by $0.02 per $100 valuation of a home. The new projected rate could come in at $1.02, according to budget documents.
How the new projected tax rate will affect the average homeowner has not been relayed yet.
Salaries for FY 2025-26 will be considered by the board in July in order for the budget and tax rate to be adopted in August, officials said.
