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Lexington 04 advances 2026–27 general fund budget on first reading, staff recommends no millage increase
Summary
Staff recommended — and the board advanced on first reading — a balanced 2026–27 Lexington 04 general fund budget built around a no‑millage increase (Option 1). The plan prioritizes a $2,000 teacher pay increase where possible, step increases required by law, and maintaining a multi‑month fund balance.
Lexington 04 board members advanced the district’s proposed 2026–27 general fund budget on first reading after a staff presentation that recommended no increase in millage.
Sean (presenter) told the board the recommended budget follows board policies BDD and DB and aims to balance instructional and operational needs with long‑term fiscal sustainability. He said roughly 72% of the district’s general‑fund revenue now comes from state sources and about 26% from local taxes, making the district more sensitive to state revenue shifts and sales‑tax volatility.
The presentation laid out three revenue options for the board: Option 1, a no‑millage increase that staff estimated would yield roughly $912,000 in additional general‑fund revenue; Option 2, an 8.4‑mill increase (the CPI +…
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