Keystone Oaks budget presentation shows roughly $4.45 million deficit; millage may rise to 22.7122 mills

Joe, the district budget presenter (speaker S2), told the Keystone Oaks School District board the proposed final General Fund budget projects roughly $50,740,000 in revenues and about $55,200,000 in expenditures for the coming year, leaving an estimated deficit of approximately $4,450,000. He said the numbers remain preliminary and will be revised before the board’s scheduled June vote.

The presenter said the tax index (AFI/index) was set at 3.5% and that raising millage to that index would bring the district’s millage to about 22.7122 mills. Under a 94.5% collection-rate assumption — which S2 described as the district’s current post‑COVID estimate — that 3.5% index increase would generate about $741,438 for the district; S2 noted one mill equates to roughly $283,000 in revenue.

Why it matters: the district’s spending is heavily weighted to personnel. S2 said salaries account for roughly 44% of the budget and benefits about 29%. He…