RSU Reports 13.3% Increase in Town Valuations Amid Fund Balance Decline

The RSU 22 Budget Workshop Meeting held on May 14, 2025, focused on significant financial updates and projections for the upcoming fiscal year. Key discussions included a notable increase in property valuations across the four towns served by the district, with Hampden seeing a 13.3% rise, Winterport at 12.9%, Newburgh at 13.4%, and Frankfurt at 14.2%.

The meeting highlighted that these valuation increases are based on state-provided data and are not finalized until an audit is completed. Currently, the district's fund balance has decreased significantly, with just under $7.5 million in unallocated funds remaining. This reduction follows the use of over $1 million from reserves in the previous year and the allocation of $3 million as carry-forward money.

The budget breakdown presented indicated that local funding is divided based on a long-standing agreement, with 80% allocated according to town valuations and 20% based on student enrollment. The total budget request for the fiscal year 2025 amounts to $16,826,472.14, which has raised concerns among board members and community members due to the higher percentages compared to previous years.

The meeting concluded with an acknowledgment of the financial challenges ahead and the need for careful consideration of the budget as the district prepares for the upcoming fiscal year. Further discussions and adjustments are expected as the board continues to refine the budget in response to community feedback and financial realities.