How is the economic downturn impacting the state of Kansas and the Spring Hill School District?
The declining state economy impacts the state’s revenue, including funds raised from sales and property taxes and state income tax. It is anticipated that a budget shortfall of $150 million will occur this fiscal year, which ends June 30, 2009. Current estimates are that Kansas faces a $1 billion deficit in next year’s projected general fund budget of $6 billion. It is important to note that the state is required by law to balance its budget. As the majority of the Spring Hill School District’s funding comes from the state, any decrease impacts our district’s budget.
