South Sanpete board approves final FY26, adopts tentative FY27 budget and certifies tax rate

The South Sanpete School District board on June 22 approved the district's final fiscal year 2026 budget, adopted the tentative fiscal year 2027 budget and certified the FY27 tax rate following a budget presentation by Jake.

Jake told the board the report covered the year through May 31 (about 92% of the fiscal year). "We spent the year to date, 47,700,000, and we received 53,700,000," he said, walking members through object‑code and fund‑level totals and explaining timing differences tied to reimbursements and payroll. He flagged that the capital outlay and child nutrition funds appeared overspent on the report but said reimbursements due after year end would reconcile those balances.

The presentation included the district's debt schedule. Jake noted the district will make a final $4,000,000 bond payment on Feb. 27, 2027, reducing the outstanding debt, and that the remaining bond series is expected to be paid off in March 2029. He explained how local tax effort and state equalization interact: by meeting a local effort target the state makes up the difference for districts with low assessed valuation.

Chair moved the motion to accept the final FY26 budget, tentative FY27 budget and certified tax rate; the motion was seconded and the board approved it by voice vote. Board members were told the district will prepare audit documents in September and continue to monitor reimbursements and fund balances.

The board's approval covers all funds shown in the packet, including the district's main operating fund (Fund 10), student activity funds, capital projects and the child nutrition program. Jake said detailed fund pages and the certified tax rate will be posted on the district website for public review.