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District ends fiscal year with $2.2M cash; state tax changes and Nexus payments weigh on outlook
Summary
The school district closed its fiscal year with about $2.2 million in cash, officials told the board July 16, while one-time Nexus payments and possible state changes to the "20-mill floor" and budget-commission authority could affect future revenue.
Carrie, district finance staff, told the Board of Education on July 16 that the district closed fiscal year 2025 with about $2.2 million in cash, up more than $200,000 from the previous year. The increase reflected higher state aid, a one-time state reimbursement tied to a reading-stipend program of about $239,000, and stronger local property-tax receipts after the district reached the state’s 20-mill floor following a failed levy, Carrie said. Board members heard that local taxes make up the majority of revenue: the district’s real-estate collections were listed at about $35.6 million and public-utility collections near $4.2 million. Carrie said the district realized roughly a $2.9 million increase tied to the half-year of new real-estate money and an…
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