Information released by the School District of Fort Atkinson Friday notes that its board of education, on Thursday, approved a proposed budget for the 2023-24 school year.
The 2023-24 budget will next be presented for final approval at the district’s annual meeting on Thursday, Aug. 17.
The proposed budget includes an estimated 10% decrease in the property tax levy rate for next year, the release stated.
The proposal was approved following a presentation made by the district’s Director of Business Services Nathan Knitt.
According to the release, the proposed budget sets the tax levy rate at $9.78 per $1,000 of assessed property value, which the release stated, makes it “the lowest rate in over a decade.”
Additionally, the release noted that the total revenue for the 2023-24 fiscal year is projected at $36,754,865, with total expenditures estimated at $39,534,993, which leaves an operating deficit of $2,780,128.
District leaders and the school board are exploring a potential operational referendum to appear on the ballot in the spring of 2024 to help address the shortfall, the release stated.
School District of Fort Atkinson Superintendent Rob Abbott, within the release, noted: “We are pleased to move forward with a budget that provides a property tax decrease for our residents while maintaining the short-term fiscal health of our school district.
“At the same time, our district faces pressing longterm financial challenges that require the attention of our community. Above all else, our promise is to maintain financial discipline while ensuring our students continue to have access to a top-quality educational experience.”
Within the release, the district pointed to the state of Wisconsin’s school funding formula, citing it as causing “limited aid to schools over the past several years.”
As a result, the release continued, “the School District of Fort Atkinson is facing looming budget shortfalls. This past spring, several staff positions were reduced through attrition, resignations, retirements and non-renewals for the 2023-24 school year.”
The full budget proposal is found here: https://bit.ly/sdfabudgetproposal07272023.
The School District of Fort Atkinson Board of Education Thursday receives a presentation made by the district’s Director of Business Services Nathan Knitt regarding school financing for the 2023-24 school year. Screen shot photo.
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