Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
Laurel School District board hears FY27 budget showing $1.3 million projected deficit
Summary
The board reviewed a preliminary FY27 budget that projects a $1.3 million shortfall and reserves declining to about $1.7 million unless revenue or state aid changes; the board approved the tax warrant and the preliminary budget by roll call.
The Laurel School District Board of Education heard a finance presentation showing a preliminary FY27 budget with a projected $1.3 million deficit and approved the districttax warrant and the FY27 preliminary budget by roll call.
Finance presenter (Speaker 11) told the board the district projects about $6.8 million in local tax revenue for FY27 and a net increase in total revenue of roughly $280,000 compared with the prior year. The presenter said operating expenses are largely flat, salary projections include a 5% increase to account for step increases and full staffing, and the district is facing collection shortfalls that contributed to higher debt-service needs.
"For this year, for 2026, we're looking at a about a $1,400,000 deficit, and then we'll have a $1,300,000 deficit next year is what the projection is showing," the finance presenter said. The presenter added the district assumes receipt of about 90% of expected state funds in the projections and flagged a 4% shortfall in collections as a driver of the higher debt-service requirement.
During questions, a board member asked how low reserves would fall under the current projections. Speaker 11 said reserves would be "down to about 1,700,000 at the end of next year." The presenter also noted a potential state action that, if approved, could add about $420,000 but stressed that was not yet finalized.
Board members asked whether the district receives a list of delinquent property taxpayers from the county; Speaker 11 said the district does not get a Laurel-specific list and that obtaining property-specific delinquencies would require a FOIA request or other public-record process. The presenter said collection shortfalls could reflect appeals, exemptions (such as senior tax credits or farmland exemptions), or late payments handled through county processes.
Despite the projected deficit, the board voted to approve the FY27 preliminary budget as submitted and approved the tax warrant, which included the county property tax rate shown in the warrant. The vote was recorded by roll call; no public speakers were signed up to comment during the financial presentation.
The preliminary budget was described as that: a working document that the board approved to move the process forward. Additional hearings or adjustments could follow as state funding and other variables become clearer.
