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District finance report: federal funds released but equalization aid set to drop $3 million; levy and budget timeline set
Summary
Finance staff told the board federal funds that had been on hold will be released, but the district expects a $3 million reduction in equalization aid and is working toward a 1.21–1.24% decrease in expenses for 2025–26. The board set key budget dates and heard claims totals.
The Norfolk Public Schools finance and facilities presenter reported that most federal funds that had been on hold will now be released, but the district faces a $3 million loss in equalization aid as it develops the 2025–26 budget.
Eric Wilson told the board staff anticipate a “little reduction” in some federal funds for the upcoming year but confirmed funds will be released and the district can plan accordingly. He said the district is already working through reductions and identified actions taken since November — including position reductions and consolidation —…
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