In preparation for the upcoming school year the Board of Education will have more discussion regarding the 2024-25 School Budget, at their August 12th Regular Meeting. In addition, they will also be discussing and voting whether to allow the district to increase its tax asking an additional 7% above the 3% allowed without the board’s vote. This is the second year for this requirement, which is an additional legal limitation of the school’s taxation authority, beyond the statutory limitation of the longstanding levy limit of $1.05 (SPS 2023-24 levy was $.67). The board of education did vote to allow the access of the additional 7% last year.
For this year I am recommending that the board approve the access of the additional 7% ($248,000) to help the district deal with a loss in state aid (-$182,000) and increased operation costs. Furthermore, the additional revenue will help ensure an adequate cash-flow for the school district throughout the next fiscal year, while we do our best to navigate uncertain economic conditions, marked by inflation and our state government’s commitment to perhaps significantly change the ways K-12 schools are funded.
As many of you know, Governor Pillen is committed to significantly decreasing the amount of funding for K-12 schools that is generated through property taxes, by shifting a considerable amount of the tax liability to sales tax, which would also include the elimination of some of the current sales tax exemptions. Needless to say, this proposed tax shift, is fairly complex. Be that as it may, the job facing the school board and I is to maintain our school’s current financial stability as we cope with what is, and what may come to be.
In closing I would like to extend an invitation to any of the district patrons who would like to learn more about the upcoming budget and the financial condition of the school district. Please call the school at 308-636-2252, and we can set up a time. Otherwise, I would recommend that you plan to attend the Regular Meeting on August 12th at 7pm in the school library. If you have specific questions, you might raise them at the public speaking portion of the meeting, which would give us an opportunity to address them specifically during the budgetary discussion on the agenda.