A major day in deciding what school funding will look like for the next school year is coming up.
The Joint Appropriations committee will hear revenue projections on Wednesday, February 12 and adopt revenue projections for the upcoming fiscal year the following day. Those figures will assuredly play a role in whether or not or how much of an increase schools receive in state aid.
Recent figures for have pointed to potentially positive news in revenue and the January numbers maintain that optimism.
For Fiscal Year 2020, revenue figures year-to-date for Gov. Kristi Noem’s revised budget and the legislature’s adopted figures are performing higher than projected. Gov. Noem’s revised budget is $4.8 million higher than projected while the legislature’s adopted figures are $6.8 million ahead.
Any additional dollars will be needed as it will assist in providing a two percent increase, which is inflation and what’s prescribed by state law for schools to receive, to school districts next year and would cost around $20 million.
“Revenue continuing to outpace what was projected for the current fiscal year will be beneficial for next year’s budget because it will give our legislators some wiggle room in preparing for next year’s budget without facing a possible deficit,” ASBSD Executive Director Wade Pogany said.
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