2023-24 & 2024-25 Cost Containment
The district has faced a budget shortfall due to:
- The on-going financial impact caused by the pandemic, including decreased student enrollment in the 2020-21 school year.
- The fact that state funding for education has not kept pace with inflation for several decades. To emphasize this point, the general education per pupil funding formula increased by only 2% for the FY 2022-23. Special education has also been underfunded for decades.
- Additional inflationary pressures for some operational functions impacting the district, such as the transportation budget increasing by about 13% in FY23.
In the 2022-23 school year, we shared that a multi-year cost containment process would be necessary to provide on-going, future stability to the school district’s General Fund budget. The cost containment process has allowed us to:
- Address a number of funding challenges, including decreased student enrollment, caused by the pandemic;
- Maintain the district’s General Fund Balance at a minimum of 7%, an amount consistent with School Board policy; and
- Operate within the parameters of the funds we receive from the state and through our voter-approved tax levies. These are our two primary sources of funding.