Peshtigo School Board approves 2024-2025 budget

PESHTIGO - The Peshtigo School Board held their annual budget meeting and open session on Monday, Oct. 28. The meeting began with Superintendent Patrick Rau reviewing important budget highlights.

Due to the 2023-2025 Wisconsin State Budget, the district’s revenue limit increased from $325 to $11,325 per student. The district’s Equalized Property Value increased as well. The 8.5% increase moved the values from $606,451,147 to $657,571,230.

In levy news, the operational levy is $2,425,595 and the referendum approved debt is $2,311,757. This establishes the total levy as $4,737,352.
The mill rate, the amount of property tax dollars levied for each $1,000 of tax property value, stayed nearly the same. It slightly decreased from $7.21/thousand to $7.20/thousand.

A total of $403,893 was levied for the state-wide school choice programs to cover tuition at private schools for children. This is a $54,209 decrease, meaning that vouchers now account for $42/$100,000 instead of $76/$100,000 in an individual’s property taxes.

In enrollment news, total enrollment slightly increased from 1,074 to 1,078. Of the student body, 199 students are currently open enrolled into the district. This will generate an additional $1.7 million in revenue, which is crucial for the district as resident enrollment declines. There were 39 students enrolled out of the Peshtigo School District.

The balance for Fund 46, the funding source for large projects like HVAC, roof, lighting and parking lot improvements, is currently at $1.6 million.

The school district will be maintaining their balanced budget. Total revenue and other financing sources, including funds from taxes, open enrollment and state and federal aid, was approved for $14,127,744. Total expenditures and other financing uses, including instruction, support sources and non-program transactions costs, was approved for $14,127,744.

Special education revenue and expenditures were also balanced at $1,942,914.

To close out the budget hearing, the board passed seven resolutions. This included authorizing necessary payments of board members who travel for their duties, a temporary borrowing order, ability to sell school property, permission to acquiesce real estate, using appropriate funds for school lunch and milk purchases, allowing the school to make purchases as directed by the board and providing prosecution or defense where the school board is interested.

The school board then moved into open session where they approved the local levy of $2,425,595 for the Fund 10 levy, the levy for debt retirement for $2,311,757 and a temporary borrowing of $2,500,000 through Peshtigo National Bank until delayed funds come through. In closing, the 2024-2025 budget was officially approved.

The Peshtigo School Board will meet next on Wednesday, Nov. 6, at 6:00 p.m. at the Peshtigo Elementary School.