At each school board meeting, Milton School District Director of Business Services Carey Bradley has been giving a presentation on school finance. She’s taking it one topic at a time.
She began Jan. 27 with “Responsibly funding our schools.” Other topics have included revenue and revenue limits, and revenue exemptions.
Bradley, who joined the Milton School District in November, is presenting her audiences (in person and online) with the basics.
Monday she began with a review. Looking at General Fund (Fund 10) Revenue, she said 85% is controlled revenues.
• “The revenue limit does not include all revenues and it is not a spending limit – but it does control a significant portion of the district’s budget.”
• “Authority to exceed the revenue limit (except for exemptions identified by law) is given by a referendum.”
These points are important because the $2.5 million operational referendum approved by voters in November 2016 ends with the 2020-21 school year.
Bradley presented a timeline of deadlines and possible election dates that will be important if the school board chooses to again go to referendum. To be included in the fall primary election, the board would need to adopt and file resolution(s) by June 2.
“This is, as much as anything, a heads up,” she said, “and then as we continue to work on the budgets in the next couple months, we’ll bring some more information forward with regard to need.”