Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
Davenport board hears budget update as published levy lands at $12.97 per $1,000
Summary
Finance staff told the board the district's published FY27 budget shows a combined property tax levy of $12.97 per $1,000; earlier tonight a separate public hearing listed a proposed levy of 13.07078 per $1,000, but the state budget-guarantee adjustment lowered the published figure. Staff highlighted solvency risks and large near-term capital spending tied to recent bond proceeds.
The Davenport Community School District board received a detailed budget presentation showing the FY25 actuals, FY26 re-estimates and the FY27 proposed budget across general, capital, debt and special revenue funds.
Kevin, the district's finance lead, told the board that the published FY27 combined tax levy in the Department of Management form is $12.97 per $1,000 of taxable valuation. He explained that an earlier levy figure presented at the hearing (13.07078 per $1,000) changed after the state applied a budget-guarantee adjustment: "This budget shows a $12.97 tax levy," he said.
Why it matters: the levy affects local property owners and the district's ability to maintain reserves. Kevin said the board directly controls about $3.14 of the combined levy; most of the remainder is driven by state formulas and mandated levies. He also flagged short-term cash timing and solvency: the monthly report showed roughly $40 million in bank balances but an $11 million year-to-date spending variance caused by timing of tax receipts and expenditures.
Key budget details presented
- The district is reporting FY26 revenues close to FY25 levels after ESSER-era distortions have subsided. - The capital-projects balance was shown at roughly $16.5 million in February, with large bond receipts and planned project spending to follow; the presentation noted the first $80 million of bond funds is nearly spent and the second tranche will shift the appearance of balances in March. - Debt-service outlays tied to recent bond issuances were estimated at about $13 million per year going forward (roughly two equal bond-issuance payments of ~ $6 million each). - Salaries and benefits remain the largest operating cost (around 80% of general-fund spending), a driver for future budget choices.
Staff stressed that published budget reports combine many funds (all funds less the internal-service fund) in the Department of Management form and that some large swings on charts come from timing of bond proceeds and capital spending. Kevin urged caution about future cash-reserve needs and said some budget lines (for example, instructional-support state aid) appear in the state form even when the state typically reduces or removes them in practice.
Next steps and community context
Board members asked for comparative historical levies and for a clearer breakout of the components the board can control; Kevin agreed to provide an attachment for the next meeting that outlines the tax breakouts and prior-year comparisons. The board will consider the budget and any required actions at forthcoming board sessions; staff emphasized the presentation was intended to inform the board before the formal adoption process.
