What’s the status of the revenue and budget situation for the current school year?
Current revenue projections indicate that SPS will be right at budget for the current year; this assumes that payments not yet received come in close to budget and the state does not make further funding cuts. An increase of about $800,000 in local property tax revenues should balance out an anticipated reduction of $830,000 in state sales tax and funding formula reductions. There are still several unknowns. The district is still waiting on significant payments from local, county, state and federal sources. The State Budget Director has indicated a possible reduction of 1.4% ($600,000) in current year state funding, though legislators have indicated support for continuing to fully fund the formula.
