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Park Hill leaders say bond sales drive 2025–26 revenue spike; warn of lower recurring revenue next year
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Summary
Dr. Kelly told the board the district expects near $400 million in revenue for 2025–26 driven by one‑time bond sales (Proposition I and O) and that working operational revenue will drop in subsequent years as bond proceeds are spent down; trustees discussed potential impacts from a Platte County homestead freeze and pending state income‑tax changes.
At its April 23 meeting the Park Hill Board of Education received a revenue‑focused budget briefing from Chief Financial Officer Dr. Kelly, who explained why district revenue will look markedly different across the next several years.
Dr. Kelly said the district budgeted $387,000,000 last year but now expects to be ‘‘right at $400,000,000’’ for the 2025–26 year, driven largely by noncurrent (bond) revenue. He described noncurrent revenue as bond proceeds that appear in years different from when the district spends them and said Proposition I (passed April 2022) and Proposition O (approved April 2025) together account for large, one‑time increases in revenue. "Proposition O...we actually sold all of those at the same time, which then takes our revenue very high," he said, adding that the district will spend those dollars down over the next three years and that the board should expect deficit working budgets once the bond proceeds are exhausted.
Dr. Kelly walked trustees through recurring revenue sources (local property taxes, county, state and federal sources) and noted that some state changes increased recorded revenue for 2025–26—for example adjustments to thresholds for ELL and IEP counts that carry weighted funding. He warned that some increases are timing artifacts: a state payment delayed from a prior year was recorded in the current year and therefore appears as growth in 2025–26 but did not reflect new recurring dollars.
During Q&A trustees asked whether a Platte County homestead tax‑freeze measure would affect assessed valuation and the district’s revenue; Dr. Kelly said the district would model the potential effects once state/local data were available and that DESE produces modeling districts can use. Trustees also raised the state income‑tax conversation; board members were told work remains at the legislative level to decide how changes would affect school funding and that the district will monitor and present updated modeling in June prior to board budget adoption.
Board members were reminded that expenditures will be discussed in future meetings (capital projects at a May 1 retreat and general expenditures at a May 14 meeting) and that the district plans a conservative, sustainable approach for next year’s reserves and operating assumptions.
The presentation emphasized that the spike is known and planned: one‑time bond proceeds created the current high‑revenue year, and recurring operational revenue remains much flatter. Trustees directed staff to continue modeling impacts of local tax changes and pending legislative actions.
