The Two Rivers School Board Monday night tentatively approved the operating budget for the 2020-21 school year at $21.4 million. Finance Director Mary Kay Slattery says they are also looking at a decrease in the tax levy as huge amounts of debt comes off the books. “The debt that was with the high school was actually for 20 years, and we paid that off in March,” Slattery explained. “We’re also looking at this year, paying off the debt that was associated with our boiler project.”
That project, which started in 2015, saw the boilers at LB Clarke Middle and McGee Elementary Schools get upgraded.
Slattery adds that the District is looking at an increase in state aid. That is important because, in her words, “For our operating budget, what is not paid in state aid, ends up being paid in the tax levy. So the more that the state picks up, that means the less that the tax payers have to pay.”
The District’s designated fund balance is projected to be $4.7 million which is looked on favorably by bonding agencies in regards to cash flow and unexpected expenses.
The budget is expected to be finalized and passed during the second Board meeting next month.
