Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
Liberty Elementary board adopts FY26–27 expenditure budget after truth‑in‑taxation hearing
Summary
The Liberty Elementary District governing board held a required truth‑in‑taxation hearing and voted 4–0 to adopt the FY26–27 expenditure budget. Administrators said the budget reflects a 2% M&O base increase, projected student growth, and carryforward funds; a revised budget will be presented in September.
The Liberty Elementary District governing board on July 14 adopted the district's fiscal year 2026–27 expenditure budget after a public hearing and a question‑and‑answer period with staff.
At the hearing, interim director of operations Kevin Hegarty said the district's maintenance and operations base increased about 2%, which he estimated would generate roughly $631,000, while a related override increase was projected at about $105,000. Hegarty also said the district's projected weighted average daily membership growth of about 58 students would add an estimated $300,000 in revenue. "We're proposing the budget on June 8 and met statutory requirements," Hegarty said during the presentation, adding that administration will present a revised "Number 1" in September once enrollment and county tax data are finalized.
Anita Purcell, executive director of business services, walked the board through fund balances and closeout items for June. Purcell said the classroom site fund rate will move from $8.42 to $8.83 next year, an adjustment she estimated would generate about $200,000. She reported the district's classroom site fund net allocation runs about $4.4 million and that interest income in that fund rose from about $130,000 in May to roughly $151,000 in June.
Board members pressed administrators on several assumptions, including whether one‑time legislative funds might roll into base funding in 2027–28. Hegarty said the statutory language appears to roll the funds into the general fund but that the district had not yet received formal confirmation. He reiterated that the adopted forms were prepared under the auditor general's templates and that final tax rates will depend on county data.
Purcell and Hegarty also reviewed carryforward projections: the district carried forward $641,000 from 2024–25 into 2025–26 and currently projects between about $808,100 and $900,000 rolling into 2026–27 depending on encumbrance clearance.
After discussion, a motion to adopt the FY26–27 expenditure budget passed unanimously on a recorded vote of 4–0. Administrators said the board will see a revised budget (Number 1) in September that will reflect updated enrollment and county tax information.
