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Falls City School Board approves budget

By John Nixon

09/14/2022

(KLZA)-- The Falls City Board of Education conducted budget and property tax hearings Monday evening.

Following the hearings, the Board approved the budget proposal and the property tax request resolution for the 2022-23 Fiscal Year as published.

The General fund budget will increase 4 percent over the previous year to $15,400,136.

The property tax levy was set at a dollar and 1.8173 cents per $100 of assessed valuation, which will bring in $9,754,571, a 2.6 percent increase over the 2021 property tax request.

The Special Building Fund remains unchanged at $404,040.

The total assessed value of property within School District 56 increased by 2.96 percent over 2021 to $958,046,107, an increase of just over $27.5 million.

83% of the he General Fund budget directly supports classroom instruction and students. The largest increase in expense will be a three percent increase in faculty and staff wages and fringe benefits.

The Special Building Fund Budget is decreasing by 43 percent and reflects the 2021-22 expenditure of ESSER II and III Federally funded projects which are no longer in the budget.

The total operating budget compared to the 2021-22 budget for School District 56 is a decrease of 4.36 percent.

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