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Keystone Central finance committee reviews preliminary budget, millage options and adequacy risk
Summary
District staff presented a preliminary 2025–26 budget showing a projected shortfall and options for 1.78% and 3.55% millage increases that would yield about $490,000 and $980,000 respectively; the committee discussed fund balance, the state "local effort" adequacy supplement and planned reductions in spending and staffing.
The Keystone Central School District finance committee reviewed a preliminary budget update that projects a structural shortfall and outlines options to close part of it through modest millage increases, spending reductions and use of fund balance.
Joanie, a staff member presenting the budget, told the committee the district’s starting point showed a deficit that had been reduced from roughly $4.5 million to about $4.1 million through additional cuts and one-time actions. She presented two millage scenarios: a 1.78% increase that would yield about $490,000 (an average taxpayer impact at the district median assessed value of $98,400 of about $25–$26 per year) and a 3.55% increase that would yield about $980,000 (about $50 per year for the median-assessed homeowner). Joanie also said those increases would help maintain the district’s fund balance while addressing rising health-care costs and…
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