New Davenport School Budget Finished
Millions of dollars in budget cuts, but no change in the tax rate - those are some of the key features of next year's budget for the Davenport schools. Monday night, the school board gave its final approval so it could be submitted to the state by the deadline - this Friday (4/15).
Chief Financial Officer, Marsha Tangan, says the budget totals 263 million dollars, but to stay within state spending limits, the district will cut spending by 4.3 million dollars.
Other savings will come from lower energy costs and early retirements.
Tangan says the property tax rate will stay at this year's level - 15-dollars and 67-cents per 1,000 dollars assessed value.
Using a formula that goes back several decades, the Davenport district may spend more than the state allows by as much as one million dollars. The fiscal year ends June 30th, but final figures won't be known until September.
District officials have been asking the Iowa legislature to change the funding formula so it can use reserves and other funds to increase spending, but so far no changes have been approved, and it's been forced to spend up to 175 dollars less per student than some neighboring districts.