School Budget Meeting Highlights Unsustainable Mill Rate and Bond Interest for Bus Purchases

The Nezinscot Budget Information Meeting held by RSU 10 on May 19, 2025, focused on critical discussions regarding the proposed school budget and its implications for local taxpayers. A significant concern raised was the proposed mill rate, which is set to increase from last year's 6.67% to a staggering 15.1%. This nearly tripling of the mill rate has been deemed unsustainable by community members, prompting discussions about the financial impact on taxpayers.

Participants sought clarity on how the mill rate is determined, noting that it is influenced by various factors, including the school budget, municipal budget, and state evaluations. The conversation highlighted the complexities of budget allocations, particularly regarding cost centers. Attendees inquired whether funds could be transferred between these centers, especially in cases of over-expenditure, such as unexpected costs in special education.

The meeting also addressed the district's capital reserve, which currently stands at $150,000, and the financial implications of purchasing new school buses. It was noted that the district would incur approximately $26,000 in interest over three years for two bonds taken out to finance these buses. While the state reimburses the district for bus purchases, attendees expressed concerns about the timing of these reimbursements and the immediate financial burden on taxpayers.

Additionally, comparisons were made with neighboring school districts regarding budget increases and local tax impacts, with RSU 10's proposed increase highlighted as one of the more significant in the region. The meeting concluded with a commitment to continue addressing community concerns and providing further information as the budget process unfolds.