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Finance director: federal funds released but district faces $3 million drop in equalization aid; budget schedule set
Summary
Finance staff told the board federal education funds are being released, but the district expects about $3 million less in equalization aid and is planning a zero-based budget with a small expense reduction for 2025–26. The board set dates for a budget preview, tax hearing and budget adoption.
The district's finance staff reported that several federal funds previously on hold are being released, but Norfolk Public Schools is projecting a roughly $3 million reduction in equalization aid for the 2025–26 budget year.
"We know that we are losing $3,000,000 in equalization aid," the finance report said, and the district is working through the impact as the board develops its budget. The report described a zero-based budgeting…
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