After listening to a handful of local residents speak during public hearings, Paola School Board members unanimously approved the 2023-2024 budget during special Board Meeting recently. The budget is not revenue neutral, with the district estimated to collect about $1.3 million more in property tax revenue than in 22-23, but many questions surrounding that number were answered during a budget presentation made by Jimmy Hay, the district’s Director of Finance and Business.
Hay explained that the proposed budget includes a decrease in the mill levy of about one mill from 50.67 to 49.546, based on the district’s assessed valuation. That increase in assessed valuation can actually have a negative impact on a school district, Hay explained, because it results in a loss of state aid, increasing the district’s reliance on property tax. Hay said USD 368 will lose a total of $343,218 in state aid due to the increase in the district’s assessed value per pupil.
