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District CFO reports quarter‑two finances: MLO proceeds increase local revenue but state equalization shortfall lowers state revenue
Summary
CFO Tori Arcure told the board that Q2 projections show higher local property‑tax receipts (about $30M) driven by MLO proceeds, but state equalization is projected about $4.1M below budget; purchased services are running significantly over budget and the district expects a smaller-than-projected deficit by year end.
At the February 2025 Harrison School District No. 2 board meeting, Chief Financial Officer Tori Arcure presented the district’s quarter‑two financial report and highlighted several budgetary drivers the district is tracking ahead of next year’s budget cycle.
Arcure said the projection for local property‑tax revenue is roughly $30,000,000 compared with an original budget figure near $20,000,000; she attributed the difference to Mill Levy Override (MLO) proceeds expected in the spring. She also reported that state equalization revenue is projected to come in at about $128.8 million — roughly $4.1 million…
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