Board Approves 20-21 Budget With No Tax Increase

Board Approves 20-21 Budget With No Tax Increase
Posted on 07/03/2020

Budget Approved

The Final General Fund Budget for 2020-2021 was adopted by the School Board on Tuesday, June 30, 2020 without the need for a tax increase as projected in all earlier drafts of the budget. When the proposed draft of the budget was presented in May there was a $3.5 million deficit (partially being closed through the use of fund balance) even with a 3.4% tax increase. Over the past month, additional changes were made to the budget in order to reduce the deficit to under $3 million (fully covered by the use of fund balance) with no tax increase (the equivalent of $740,000 in revenue). Some necessary items for 2020-2021 were purchased in the 2019-2020 school year in order to produce budget savings. In addition, increased grant funding helped the District accomplish the goal of adopting a budget with no tax increase. The coronavirus pandemic had a significant impact on the 2020-2021 budget. Total budgeted revenue for 20-21 is over $1 million less than the revenue budgeted for 19-20. Growing by only 1.6%, the 20-21 budgeted expenditures were minimized as much as possible. Yet, no staffing reductions were required in the General Fund budget.

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