District finance update: foundation formula below full payout and county senior tax‑relief applications reported

Cindy Sullivan, the district finance presenter, reported revenue benchmarks and recent donations during the finance update.

Sullivan said the state foundation formula currently is being paid at 98 percent; she estimated that a full 100 percent payout would equal roughly $1.4 million more than currently expected. She noted that the 2 percent gap “is about 73 percent of the cost to fund steps for all schedules on a salary schedule.”

On transportation revenue, Sullivan said transportation funding is at 98.54 percent because the entitlement payments exceeded the appropriation; she said the district expects the state Department of Elementary and Secondary Education (DESE) to seek additional appropriation money during the legislative budget process.

Sullivan also reported donation receipts: an anonymous $1,500 gift to the Lewis and Clark Care Plan, $500 to nutrition services for student lunch account balances and $1,000 to the Liberty Oaks Angel Fund. She gave a summary of senior real estate property tax relief application counts in Clay County (reported as 54,100 applications submitted to date in the county publication she reviewed) and said Clay County will continue to provide updated breakdowns; the deadline to complete the county relief application is March 31.

The finance committee reviewed financial statements and had no items to pass to the board at this meeting.