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Board hears assessment updates and options to close a budget gap; 2%–4% tax increase remains on the table
Summary
District staff presented revised assessment and revenue projections showing a multi-million-dollar gap that administration narrowed with $3.1M in expenditure reductions; further reductions look limited and staff flagged options including using one-time capital reserves or a 2%–4% tax increase ahead of a final June vote.
Belinda presented updated assessment and revenue figures and told the board that county certification and Homestead/Farmstead adjustments could change revenue estimates ahead of the district's final budget vote.
"At February 17 meeting, we had $37,300,000 of real estate dollars. ... March 2 showed real estate tax collections at $38,000,000," Belinda said, explaining how certified county assessment updates and reductions for state gaming funds reduce the revenue baseline and create a multi-million-dollar gap compared with early projections.
The finance presentation outlined $3,100,000 in expenditure reductions already identified (attrition, re-examined tuition and special-education placements, cyber charter cost adjustments and removal of a prior budgetary reserve). Even after those savings, Belinda said the district will likely need to consider a tax increase unless additional one-time revenues are used; she presented illustrative options and said a 2% to 4% millage increase range is possible depending on May 1 certified numbers and board choices.
Board members raised targeted questions about the gaming funds adjustment and the timing of Homestead/Farmstead certification. Belinda explained state gaming funds are certified around May 1 and the county provides parcel counts; the district will estimate tax impacts for budget planning and update the board as new certified numbers arrive.
Belinda summarized next steps and deadlines: further work sessions in April, public hearings in May (May 4 and May 18 noted) and a planned final adoption action on June 1, when the board would set the exact millage increase and fund-balance appropriations.
The board signaled they will continue budget deliberations at upcoming work sessions and hearings before taking the final vote.
