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Iowa City Community School District previews FY27 tax rate near $16.70; auditors and new CFO cited as stabilizing factors
Summary
District staff told the board the proposed FY2027 levy would be about $16.70–$16.71, that audit work is advancing and borrowing needs appear smaller than earlier models suggested; a new chief financial officer is due to begin May 13.
Matt, the district update lead, told the board the proposed FY2027 tax rate would be about $16.70 or $16.71 and that the figure is lower than the FY2025 rate of 16.81 but higher than last year’s rate.
"FY '27 tax rate of $16.70 or $16.71," Matt said, and attributed most of the change to decisions about the management fund portion of the levy and a state budget-guarantee adjustment that reduced the rate by about four cents.
The district reported FY24 audit fieldwork is complete and expects a draft audit report in mid-May; FY25 reconciliation is largely finished. Leadership said they expect the FY25 audit to be delivered by December, which would help the district…
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