Kirkwood School Board reviews projected $1.2M revenue increase for next fiscal year

The Kirkwood School District Board of Education meeting on May 19, 2025, highlighted a significant projected increase in revenue for the upcoming fiscal year, with an anticipated rise of $1.2 million based on preliminary property assessments. This increase is crucial as it directly impacts the district's debt service fund, which currently has a tax levy of 27 cents. However, officials caution that these assessments may change before final numbers are confirmed in September.

The board discussed the implications of this revenue boost, particularly regarding the management of the district's debt. With expenditures projected at $5.7 million—an increase of $153,000 primarily due to principal and interest on Prop R bonds—the board faces a decision in the next two years: either pay off debt early or reduce the debt service tax levy. This decision will be critical as the district's reserves are expected to grow, potentially reaching $6 million.

Board members expressed a preference for paying off debt early to save on interest costs, a strategy the district has successfully employed in the past. The discussion also touched on the ongoing construction projects funded by Prop R, including a cell antenna system across the district, which is nearing completion.

In addition to the debt service discussions, the board reviewed the Kirkwood Early Childhood Center Fund, which is self-sustaining and projected to see a revenue increase due to a recent tuition hike. The center is expected to add staff to accommodate growing enrollment in its adventure club program, which provides before and after school care.

Overall, the board's financial outlook appears positive, with a projected ending fund balance of approximately $61.9 million for the next year, reflecting a 9.1% increase. This meeting underscored the district's commitment to fiscal responsibility while planning for future educational needs.