School board to designate extra $150,000
As the Janesville school board prepares to adopts the district's tax levy, it could use an extra $150,000 to lower taxes.
Keith Pennington, the school district's chief financial officer, says the district received $150,000 more that what was in its budget. When the school board adopted its budget two weeks ago, the tax equalization funding was an estimate. That estimate was off $150,000. Pennington says the school board can designate the extra funds how it likes. He says he's not aware of restrictions on the funding.
Pennington will also give a brief overview of the district's fund balance at Tuesday's meeting. He expects to make a recommendation regarding the fund balance over the next month.
Tuesday's meeting starts at 6pm at the Educational Services Center.