The Paola USD 368 has done something that a vast majority of organizations in Kansas have not been able to do. The School Board has approved a revenue neutral budget for next school year. Board members unanimously approved the budget during their August 12th meeting, following a public hearing and presentation by Jimmy Hay, the District’s Director of Finance and Business. No members of the public spoke during the budget hearing. According to the Miami County Republic, the school district’s total mill levy, which is the rate in which property taxes are collected, will drop from 49.546 to 47.968 in order to keep the budget revenue neutral, because the district’s assessed valuation increased about 5.7%. Hay says this year’s increase in assessed valuation amounts to a loss of $421,397 in state aid, and that’s after a loss of about $343,218 last year.
Hay says the increase in assessed valuation is both a blessing and a curse, as it reduces the district’s state aid because of USD 368’s increasing relative wealth compared to other school districts in Kansas.
