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LOYAL SCHOOL DISTRICT BUDGET APPROVED
Tuesday, September 13th, 2011 -- 11:36 am
Posted by Riley Hebert-News Director
The Loyal School District approved their 2011-12 budget Monday night, but it’s subject to change.
Superintendent Cale Jackson says residents approved a $1.24 million tax levy; that’s down 17% from the current year’s budget, but he cautions the school board will likely have to increase it as they get more information from the state. He still expects the tax levy will go down about 7%.
The district won’t get its property values until mid-October, so the mil rate won’t be known until then. If property values hold steady, the tax rate might drop from $8.50 to around $8 per thousand dollars of property.
Loyal was projected to be one of the few districts in the state that would actually see an increase in state aid under the Republican budget, but Jackson says it now looks like their equalization aide will be down about $150,000 from this year.
On paper, the district will have to spend about $60,000 of their “cash on hand” to balance the budget, but that could change thanks to concessions made by teachers.
Jackson expects the district will spend about $400,000 less on wages and benefits next year due to those concessions and the elimination of about 1.6 teaching positions.
Loyal’s overall budget is about $6.3 million.
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