Janesville School Board eyeing increase in state aid
JANESVILLE — The Janesville School District could get 2.4 percent increase in state aid for the 2014-15 school year, but officials warn the funding is just a piece of the district's income.
The district will receive an additional $1.59 million in state funding, according to the Wisconsin Department of Public Instruction.
“It gives us an idea because we still have to put our budget together,” said Keith Pennington, chief financial officer for the district. “But the equalization aid is only part of the revenue.”
He said it's not clear how the aid increase might affect property taxes.
The Janesville School Board will hear details during its meeting Tuesday.
“I will be explaining (to the board) the estimated DPI equalization amount released this week and how it could affect our budget,” Pennington said. “The presentation will have some important details. It will be an important presentation for the board to make decisions down the line.”
Pennington said the precise amount the district will receive won't be certified until Oct. 15. The preliminary numbers are intended to give school districts an idea of where they stand.
Pennington said it is encouraging to see a positive percentage.
“We may receive additional equalization, but the property tax amount may be higher or lower,” Pennington said.
Pennington said equalization aid accounts for about half of the district's budget. The rest comes from property taxes, federal aid and other sources.