The budget now goes to the full school board Monday, Aug. 29 for review and possible changes. The budget will then be presented to the electorate at the budget hearing and annual meeting next month.
This coming year’s budget is skewed significantly because it includes $9,815,407 in long-term bond proceeds that will be used to finance those energy-savings projects at the high school over the next two or three years. That boosts the revenue side to $24,821,084 from the operating budget of $13,915,988 of revenues. The latter comprises $11,278,127 in local property taxes, including $1,089,689 in debt service levy.
Renovation work and equipment replacement by Schneider Electric will draw down that surplus by $5.3 million, Kopp said. That leaves $4,515,407 in total surplus – again due to the bond proceeds and earmarked for future renovation work by Schneider Electric.
In comparison, the 2015-16 expenditures were $14,842,011 with an operating surplus of $523,305. But $2,181,551 in Phase 2 building renovations left the district with a deficit of $1,658,246. The district tapped its general fund balance to cover the deficit.
In the last budget cycle, the district made its last payment of $948,125 for the field house referendum. Kopp laid out the budget assumptions, including a student enrollment of 709. The district will see a reduction of property tax of $431,500 due to levy limits. Expected impact aid will drop to $123,000 from last year’s $425,000.
There are a few staff reductions, mostly cutback in hours. But they don’t plan to replace a math teacher who resigned. The district will also see a 2.5 percent increase in the employees’ health insurance premium next year.
