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Somerset School District reports midyear spending in line as revenues lag until property-tax receipts
Summary
At the March 2 board meeting, Business Department presenter Rod told trustees the district had spent about 35% of its budget through Dec. 31—similar to last year—but had received only 18.4% of annual revenue because property-tax receipts post later; trustees asked questions and were told a fuller picture will come after the third-quarter report.
At its March 2 meeting the Somerset School District board heard a midyear budget update showing overall expenditures close to last year’s pace while revenues lagged until property-tax receipts posted.
"We spent 35.3% of our budget as of December 31," Rod, the business-department presenter, told the board, and contrasted that with last year’s 35.8% for the same period. He explained payroll timing drives early-year percentages: about 34% of support-staff payroll is paid during the first half of the fiscal year while year‑round positions show about 50% expended.
The presentation separated…
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