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Kent Local Board Approves Appropriation Resolution as Finance Staff Warns of Multi‑Year Shortfall
Summary
Board approved a permanent appropriation and the fall forecast showing flat near‑term revenues, a projected erosion of the general fund from about $8.7 million in FY26 to under $4.5 million by FY29, and state funding losses tied to higher local property wealth and AGI changes.
The Kent Local Board of Education voted to act on the district’s permanent appropriation resolution and reviewed a fall forecast that warns of a growing multi‑year budget gap.
Finance staff told the board the district’s assessed property values rose from $468,000,000 in 2022 to $610,000,000 in 2024, and that residential valuation for the 2024 tax year was listed at $299,000,006.51. The presenter said those valuation changes, combined with a near‑term decline in state aid and modest enrollment shifts, are driving a complicated revenue picture.
“Last year we collected $30,700,000. Pretty much…
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