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District finance staff warns teacher raises will widen FY26 general‑fund deficit
Summary
Chief Financial Operations Officer Corey Sassy told the Rapid City Area Schools board that fiscal year 2026 revenue projections and multiple pay‑increase scenarios produce a general‑fund deficit in every modeled case, and that larger salary increases would deepen the shortfall.
Chief Financial Operations Officer Corey Sassy told the Rapid City Area Schools Board of Education on the district’s Zoom meeting that fiscal year 2026 revenue projections and several compensation scenarios point to a growing general‑fund shortfall.
Sassy said the district is modeling its budget assuming a 1.25% target teacher‑salary increase recommended by the governor and reflected in pending state aid proposals. “At this point, after discussing with the finance committee where we’re at and where we’re going, we’re going to proceed with the assumption that the target teacher salary will increase 1.25%,” Sassy said.
The nut graf: the district projects a year‑over‑year revenue decline driven largely by enrollment decreases and state‑aid changes;…
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