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Elm Heights School Board adopts $69.5 million 2026–27 budget; tax-rate decision delayed
Summary
The Elm Heights School Board on June 17 approved a balanced 2026–27 budget of about $69.51 million and agreed to set tax rates later this summer as bond payments and appraisal values are finalized. Trustees discussed compensation, one-time retention payments and the timing of special-education funding.
The Elm Heights School Board of Trustees on June 17 adopted a balanced fiscal 2026–27 general fund budget of roughly $69,510,000 and agreed to return to tax-rate adoption in August and September after updated appraisal and bond information is finalized.
"We have a balanced budget of 69,510,000," Matthew Strager told the board as he reviewed revenue and expense projections and explained that enrollment remains flat and per-student revenue is projected at about $19,861 for 2027. Strager said the food-service program shows a small shortfall covered by fund balance and donated food and that debt-service revenues are currently estimated at about $23.5 million against roughly $24.3 million in existing bond payments.
Board discussion highlighted two near-term constraints: unknown state adjustments to special-education funding that likely won’t be finalized until fall 2027, and the need to set an INS (interest and sinking/debt service) tax rate once updated property-value and bond-issuance information is available. Strager told trustees the district will return in August with additional detail and seek formal tax-rate adoption in September.
Trustees also discussed personnel and benefit items embedded in the budget. The package includes one-time retention payments, a $500 retention bonus for each employee (totaling about $337,000), increased employee health-care contributions to fully cover an employee-only plan (budgeted at $576,000), and roughly $1 million in revenue-directed teacher-incentive allotment funds allocated for teacher compensation tied to student growth and performance. The budget reflects last year’s market adjustments and targeted additional allocations to bring some positions within roughly 93% of market median pay.
Trustees asked about the treatment of unspent funds at year-end. The board discussed options including rolling surplus into the fund balance or returning some savings to staff as compensation, with no policy change adopted at the meeting.
A motion to approve the 2026–27 budget "as presented" was moved and seconded; the board voted by voice and the motion carried.
Next steps: staff will return in August with updated tax-rate scenarios and a report on bond-issuance plans; the formal tax-rate adoption is expected in September.
