The Lisbon School Board approved the fiscal budget for the 2022-23 school year at the April 13 meeting.
The district’s levy rate is slated to decrease from $17.87 per $1,000 this year to $17.178 per $1,000 next year. Lisbon business manager Maher said that taxable valuations of properties in the district have increased by roughly 6 percent this year.
Maher said there are very few funds the district has any direct control over in the budget, as most funds are determined by the formula devised by the state of Iowa.
The budget revenues indicate a 2.5 percent growth for the district, set by the state for supplemental state aid for schools for the coming fiscal year.
Lisbon is maintaining a solvency ratio of more than 20 percent, which means the district will not be able to levy cash reserves from the state.
Maher worked on a document that outlined the different funds the district receives money for, and the proposed expenditures in every fund. The color-coded funds highlights what the funds are used for as well. School board member Allan Mallie said people in the community need to understand that the funds denoted in the document can only be used for expenses in those particular funds, that the streams can not cross dollars over into another.
The district is currently banking surplus levy rate in the $4.05 voter approved general obligation bond to prepay on the general obligation bonds for the recent construction project. By pre-paying amounts on that bond with the extra revenues in the fund, the district is on track to save more than $160,000 on those bonds.