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Troy City School District draft budget shows $4.1 million gap; board discusses using one-time capital aid and attrition
Summary
District staff presented Draft 1 of the budget showing a $4,100,000 deficit, outlined options including transferring $3.6 million in one-time small-city capital outlay aid to capital projects and relying on attrition rather than layoffs for 30 federally funded positions; the board scheduled further budget discussions before the May 20 vote.
District staff reviewed Draft 1 of the Troy City School District budget and told the board the district currently faces a $4,100,000 gap in the draft presentation.
The staff member presenting the financials said state aid in the slides was $90,500,000 and that the district’s foundation aid increase for the year was shown as $1,200,000. On the tax cap, the presenter explained that although the consumer price index is 2.95 percent this year, the tax cap calculation currently yields 2.57 percent and “2.57 generates about…
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