Watertown School District’s 2024-25 Budget and Levy Resolution of $128 Million Approved – Local News

Watertown School Board Approves 2024-2025 Budget and Levy Resolution

The Watertown School Board has made significant decisions regarding the budget and levy resolution for the upcoming fiscal year. The approved budget of $128,298,839 aims to support the operation of Watertown School District #14-4, with various allocations and highlights.

In terms of the General Fund, the budget includes allocations for salaries, benefits, purchased services, supplies, insurance fees, and dues and other expenses. Notable changes include a decrease in salaries by $184,345, an increase in benefits by $532,115, and an increase in supplies by $173,455.

Property tax levies for different property classifications have also been set, with adjustments for agriculture, owner-occupied, and non-agricultural & utilities properties. Additionally, per student equivalent funding is set to increase from $7,120 to $7,405.

The Capital Outlay budget includes expenditures related to the Athletic Complex, with allocations for buildings, equipment, and debt service. The fund’s ending cash position of $8.8 million will support ongoing construction efforts.

Special Education funding includes increased salaries for special education staff, with the fund’s ending cash position moving closer to the 15% fund balance target.

Lake Area Technical College’s budget includes construction payments for the Archway and Dental Renovations, with revenue sources from State tuition buy-down and Federal Grants. The fund’s cash balance is $7.5 million, with a receivable from the Foundation.

Other funds, such as the Employee Benefit Trust and K-12 Nutrition, also show ending cash balances and typical activity for various services.

Overall, the approved budget and levy resolution reflect the Watertown School Board’s commitment to supporting the district’s operations and ensuring financial stability for the upcoming fiscal year.