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GFW School Board sets levy

by Doug Hanson
The GFW School District held its regular monthly meeting on December 18th to certify its levy. Michael Hoheisel of RW Baird & Co of the Twin Cities reviewed the District’s levy and school funds.
During 2023-24, revenue is expected to outpace expenditures. He pointed out that there are not a lot of things that a school board can control about levies when it comes to market value, class rates, tax capacity and programs authorized or mandated by legislature.
Director Emilee Stehr asked about the post employment benefit levy in which the annual levy is enough to pay the principal and interest plus five percent. She also asked about the school budget that has a revenue of $15,105,000 and expenditures of $12,330,900 with a difference of $2.7 million. She added does the District really need to increase the levy by $1.9 million. Hoheisel stated yes because the Board is reviewing the 2024 year but levying for the 2025. Adding that the expenditure budget will be higher in the Debt Service Fund for 2025 than the District has this year.

For the complete story, check out the January 3 issue of the Winthrop News.

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