District Budget on Solid Ground

The Board of Education approved the final 2010-11 district budget at its Aug. 24 meeting, and despite a 3% drop in our local tax base and cuts in state funding, the budget is balanced.

During the board meeting, Supt. Todd White acknowledged the individual sacrifices that were made including salary freezes, employee cost-sharing of health insurance and nearly $9 million in operating expense reductions.

The Board also honored its promise to taxpayers to hold the tax rate at the current level of $5.89. Oppenheimer, the district bond underwriter, negotiated a profitable refinancing of district bonds which avoided a $1.5 million funding gap that otherwise would have resulted in a tax rate hike on the debt service.