At the Sept. 9 meeting, the District 161 Board of Education continued a discussion about the proposed 2024-25 school year budget.
The board considered three options presented by Associate Superintendent Frances LaBella. The first option was to freeze the 2024 property tax levy and reduce budgeted revenues. The second option was to increase the property tax levy by a consumer price index (CPI) of 3.4% and keep budgeted revenues as they are currently. The third option offered by LaBella was to keep the budget as it stands presently, wait until October to evaluate the situation with the Property Tax Relief Grant (PTRG), and decide on the 2024 levy process when they know more.
“There’s a really good chance that we’re going to qualify for the next round of the [PTRG]. We were so high up on the list for last year that I have a hard time believing that we’ll fall off of it for this next round of funding,” Labella told the board members. “We’re just waiting for the list to come out.”
LaBella said that if the state awards District 161 the PTRG, it would reduce the levy by another $2 million.
At the last meeting in August, LaBella told the board that the budget has an operating surplus of approximately $1.3 million. When they account for planned construction projects budgeted for more than $2 million, this amounts to a total deficit of $1.2 million. A CPI increase applied to the levy would increase the district’s already healthy general fund balance.
At the Sept. 9 meeting, she told the board that she would like them to give her an idea of which budget they would like to approve at the next meeting.
The board members discussed how much a 3.4% CPI increase would cost the average taxpayer and how they would spend a budget surplus. Neither effort resulted in concrete answers. They planned to discuss the district’s priorities at upcoming board meetings and seek community input.
After careful consideration, the board selected the third option, which keeps the budget as it currently stands. The board will wait until October to assess the situation with the PTRG before making a final decision during the normal 2024 levy process. The board will likely vote to make the decision official at the upcoming budget hearing scheduled for Sept. 23.