Thursday, August 24, 2017

Unit 5 Looking at A Structural Deficit

Unit 5 is starting its new school year on uncertain financial footing, as state lawmakers haven't approved a school funding formula. The Board of Education is considering a tentative 2017-2018  budget, which includes a $1.2 million structural deficit in its Education Fund. Superintendent Dr. Mark Daniel says the district had high Equalized Assessment Value in the past, which dropped and leveled off, meaning there is less revenue from property taxes coming in. There's still a chance this year's budget could be balanced, if the state gives Unit 5 its final categorical payment that is owed from last year. But Daniel says the district will still have some tough decisions to make in the future.

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