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Board adopts FY2027 budget and sets levies just under maximum
Summary
The Lead-Deadwood board approved the FY2027 budget and set levies close to but below the statutory maximum, noting targeted fund-balance drawdowns and a capital-outlay cap tied to per-student limits.
The Lead-Deadwood School District 40-1 board approved the FY2027 proposed budget and set tax levies based on numbers presented by district finance staff. Administration said the levies requested are slightly under the maximum permitted and that the budget incorporates adjustments since the May proposal.
Finance staff explained changes between the proposed and final budgets: a modest decrease in the general fund appropriation, an increase in capital outlay to cover necessary projects, and special education funding at or near the maximum levy permitted. Administrators said the district plans to use part of its fund balance to balance FY2027 — an estimated draw between $150,000 and $200,000 depending on final figures — and aim to maintain a cash balance near 27–28 percent rather than previous levels around 29–30 percent.
Board members moved and seconded approval of the final budget and levies. One member opposed the separate motion to set levies but the budget and levies were adopted as presented. Administrators noted statutory caps on capital outlay per student and that student counts used in levy calculations are taken from the September headcount of the prior year.
The board recorded the approval during discussion of budget changes and the FY2027 adoption process.
