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Winona schools map $1.2'$1.6M budget gap; district pursuing IRA tax credit tied to geothermal/HVAC work
Summary
Finance staff told the board that to meet an 8'10% fund-balance policy the district faces an estimated $1.2'$1.6 million adjustment, depending on fund definitions and contract settlements. Directors discussed potential revenue including a federal Inflation Reduction Act tax-credit for recent geothermal/HVAC projects and two large prevailing-wage付
Winona Area Public Schools' business staff presented preliminary 2026 budget targets and warned the board that, under current assumptions for salary increases, transportation-contract inflation and the district's desired 8'10% fund balance, the district may need to reduce expenditures by roughly $1.2'$1.6 million to meet board targets.
Key assumptions: the draft budget uses the board's previously adopted assumptions: a 2% salary increase assumption for bargaining units, an increase in the Teachers Retirement Association contribution rate (from 8.75% to 9.5%), and an assumed transportation contract increase (staff used 2.5% as a starting estimate but warned the final settlement could be…
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