News and information for staff members and the Madison community
Vol. III No. 6 - June 2, 2008
For the first time since the 1993-94 school year, the Board of Education (BOE) passed a budget without cuts to programs and services. The one-time revenue limit reprieve occurred because the city closed a Tax Incremental Finance district, providing a $5.7 million payment to the district for the 2008-09 budget.
Due to state-imposed revenue limits, the district has cut over $60 million in programs and services and eliminated over 700 positions in the last 14 years. While district programs were spared this year, budget estimates show a $9.2 million revenue cap gap in the 2009-10 school year.
Revenue caps limit the amount of resources a district can take from the local property taxpayers. The revenue cap gap estimates for MMSD indicate a shortfall of $6.1 million in 2010-11, $5.1 million in 2011-12 and $4.9 million in 2012-13. BOE members have informally discussed the possibility of a referendum.
The budget for 2008-09 will be approximately $367.6 million. The 2008-09 budget will receive final approval in October, based on enrollment figures and state aid.
Last Updated: Wed Nov 26 07:34:14 2008
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