From the Board of Education: Budget 2022-23

During our budget hearing and annual meeting on September 26, 2022, community members received a detailed review of the school district’s 2022-2023 budget and voted to adopt it as presented. During the meeting on October 24, 2022, the Board of Education approved a budget of $105,726,920 in revenues and $199,653,933 in expenditures. On the expenditures side, $93,337,003 are due to the capital projects funded by the April 2021 facilities referendum. Facilities updates can be found at: http://hssdschools.org/community/facilities-update. Roughly 67% of the general expenditures are invested in employee salaries and benefits.

On the revenue side, the primary building blocks of school funding are property taxes and state aid. Revenue limits cap the amount of funding a district can generate and in 2022-23 there was no increase in the revenue limits, meaning if state aid goes up, levies tend to be reduced, and vice
versa.

For the 2022-23 school year, state aid for the Howard-Suamico School District has been certified at $40,747,004. This is a 4.64% increase over 2021-22. The tax levy rate has been reduced by 30 cents to $8.69 resulting in revenues of $34,702,982. Core drivers in the reduction of the levy rate were the increase in property valuations and the increase in state aid, considering the unchanged Revenue Limit.

The Board of Education will continue to consider investment avenues for scholastic achievement and excellence. For more information about the Howard-Suamico School District budget please visit our website at www.hssdschools.org.