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Iredell‑Statesville board hears budget shortfall risks as state budget remains unsettled
Summary
Finance staff told the committee the district faces pressure on fund balance, rising retirement and health‑insurance costs, and enrollment declines that will reduce state revenue; a budget resolution will be voted on at next week’s meeting.
Adam Steele, who presented the district’s 2025–26 budget materials, told the Iredell‑Statesville Schools Committee of the Whole that the district’s total budget is roughly $274,000,000 and that the state portion is about $153,000,000. "Your total budget this year is around 274,000,000 currently," Steele said during the Nov. 3 meeting.
Steele laid out key cost pressures: the employer retirement rate rising from 24.04% to 24.67%, health‑insurance costs per covered person increasing from about $8,095 to $8,500, and continuing upward pressure on substitutes, supplies and utilities. He…
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