Loyal has three months to make call on next referendum
Just like they did four years ago before the Loyal School District passed its first revenue cap exemption referendum, the budget projection numbers going forward don’t look very healthy. And just like it did four years ago, the district Board of Education is planning to ask taxpayers for more money to bring the revenue and expenditure budget lines closer together.
The Board got its first look last week at some possible referendum numbers that could define a revenue cap exemption question on the Nov. 6 ballot. It still has three months to decide if it will, in fact, put a referendum question on the fall general election ballot, and, if so, for how much. Either way, the district’s current exemption has just one year remaining, and budget projections show the district could be facing a deficit of more than $800,000 annually in a few years if it doesn’t approve another one.
In November 2014, Loyal residents approved a 5-year revenue cap exemption that helped the district make ends meet without cutting programs. In the first year of that referendum the school taxed an extra $195,000 to cover some maintenance needs, and that annual exemption jumped to $395,000 in each of the succeeding four years to cover operational expenses. The 2018-19 fiscal year is the last to be covered by that approval, so the Board needs to again ask for more revenue or else once again face discussions of significant cutbacks.
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