The issue we have is that the state sales tax, motor vehicle collections, and a grindingly slow recovery are just not helping to drive the State Aid formula upwards. As we stated
in the April Finance Report, we are in for a long, slow road. We need to budget in the loss of the additional 1017 funding through the end of the year at the rate that we have seen over the past four months and prepare for the potential drop in funds for FY 18.
While negative news is flowing, there is one other item we must bring up. In October of 2016, there was a recovered amount of money due to an austerity budget in the spring of FY 16. It is only human nature that we count on past performance being an indicator of future performance. Don’t count on this. Act like those funds were never sent to the district, and fight the temptation to budget the funds into the revenue budget. If the funds occur that’s great, but if they don’t appear, that could make for a very difficult rest of the year.
The Chargeable Report with each district’s chargeables through April payment will be sent out this week. We will add in a May report by the 20th of the month for your budgeting purposes for next year. If we can help you in any manner please feel free to contact me by