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Superintendent and finance director outline enrollment trends, tax rate, debt reduction and pending state legislation
Summary
Superintendent and finance staff reported on enrollment declines, a tax rate decline to one of the county’s lowest, substantial debt reduction, operating revenue sources, investment earnings, and pending state bills affecting open enrollment and substitute teacher retirement authorization.
During the HILLSBORO R-III Board of Education meeting, the superintendent and the district finance presenter reviewed enrollment trends, the district’s fiscal position, and several state bills relevant to K–12 operations.
The superintendent reported that enrollment has declined year over year and is expected to continue declining in the near term, though new housing developments may affect future numbers. He noted advocacy work in Jefferson City and said House Bill 711 (open-enrollment bill) had passed the Missouri House; he said he would follow up with the board on the measure’s status in the Senate. He also referenced House Bill 607, which he said had passed the House and extends substitute teacher retirement authorization until 2030 and includes provisions designed to prevent inclement-weather days from reducing state aid for districts with certain calendar lengths.
On finances, the district’s presenter said operating revenue is a mix of local, state and federal sources, with local tax effort accounting for roughly 49% of operating revenue and state aid covering the remainder. He reported total general obligation debt at about $6.2 million, down from $29 million in 2019, and said the district’s tax levy had fallen from $4.61 in 2021 to $3.73 (most recent figure cited), which the presenter described as the lowest in Jefferson County. The presenter noted that salaries and benefits consume about 77%–80% of operating funds.
The finance presenter also detailed strong investment earnings this fiscal year — multiple months with tens or hundreds of thousands in interest, and nearly a million dollars in total investment earnings year to date — and cautioned that interest rates have declined from earlier months. He said the capital projects fund had increased due to completion of a learning center and that the district was planning budgets with a two-year view. No budget action was taken at the meeting; the financial reports were part of the consent agenda that the board approved.
