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Business manager warns Homestead Credit Act will squeeze operations fund by about $900,000
Summary
Paul Federle, the district business manager, told the Richland‑Bean Blossom school board the Homestead Credit Act will reduce operations‑fund revenue and that the district plans to use cash reserves in 2026, creating greater financial risk in 2027–28 and prompting calls to lobby state legislators.
Paul Federle, the district’s business manager, told the Richland‑Bean Blossom Community School Corporation board on Dec. 16 that a change in state policy under the Homestead Credit Act will reduce the district’s operations‑fund revenue by roughly $900,000 next year and that the district is funding the shortfall from its cash balance.
“We’re going to lose $900,000 next year in that operations fund,” Federle said, adding that the budget approved for 2026 assumes using cash balances to cover the gap. He warned that while the…
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