Franklin School District voters at the Wednesday's annual meeting approved the 2009-10 budget that includes a property tax levy increase of an estimated 3.9 percent.
About 25 district residents approved the $30.6 million levy. Because some factors have not yet been determined, the budget could change between now and when it becomes official later this fall.
Some of those aspects still up in the air are total enrollment, finalized state aid numbers, the assessed valuation of the city and the value of the growth of tax-incremental financing districts, which allow municipalities to borrow money for improvements at blighted or environmentally damaged sites.
The tax rate is expected to increase 2.9 percent, to $11.35 per $1,000 of assessed property value. That means an owner of a $200,000 home would pay an additional $62.46 in school property taxes.
The district's total operating budget will be about $49 million.
School Board President Dave Szychlinski said it was a tough budget to prepare in light of the recession, especially given many residents' own financial battles.
"We know that people are struggling, many people in our community have lost their jobs, yet we have an obligation to prepare our young people for their futures," he said.
The district was forced to make some tough decisions because of losses in state aid, Szychlinski said, and made about $833,500 in reductions to the 2009-10 budget.
E-mail Newsletter
Your link to the biggest stories in the suburbs delivered Thursday mornings.
Enter your e-mail address above and click "Sign Up Now!" to begin receiving your e-mail newsletter
Get the Newsletter!
More from News and Features
- Police Notes: Jan. 31
- News & Notes: Jan. 31
- The little prairie by the schoolhouse (1)
- Franklin School Board candidates discuss age-old facility topic (23)
- Police Report: Jan. 31
- Community Calendar
- Joint meeting will focus on Delphi and civic center redevelopment (2)
- News & Notes: Jan. 24
- Police Report: Jan. 24
- Police Notes: Jan. 24
0 COMMENTS